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Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues:        
Room $ 255,269 $ 221,978 $ 698,759 $ 628,982
Other 21,202 18,577 59,835 56,299
Total revenue 276,471 240,555 758,594 685,281
Expenses:        
Operating 69,082 59,024 187,370 170,781
Hotel administrative 20,866 17,684 57,921 52,248
Sales and marketing 21,329 18,524 59,244 53,502
Utilities 10,543 9,505 25,862 25,222
Repair and maintenance 10,478 9,245 29,167 27,771
Franchise fees 11,834 10,360 32,212 29,069
Management fees 9,205 8,491 26,189 24,081
Property taxes, insurance and other 14,787 10,450 40,315 33,727
Ground lease 2,615 2,496 7,587 7,504
General and administrative 2,623 5,175 12,511 14,421
Transaction costs 36,452 842 37,861 7,891
Loss on impairment of depreciable real estate assets 5,471 0 5,471 0
Depreciation 37,343 32,351 104,651 94,205
Total expenses 252,628 184,147 626,361 540,422
Operating income 23,843 56,408 132,233 144,859
Interest and other expense, net (10,156) (9,302) (28,519) (24,265)
Gain on sale of real estate 0 0 0 15,358
Income before income taxes 13,687 47,106 103,714 135,952
Income tax benefit (expense) 7 (138) (616) (872)
Net income 13,694 46,968 103,098 135,080
Other comprehensive income (loss):        
Unrealized gain (loss) on interest rate derivatives 4,261 (5,978) (7,934) (6,437)
Cash flow hedge losses reclassified to earnings 0 0 0 785
Comprehensive income $ 17,955 $ 40,990 $ 95,164 $ 129,428
Basic and diluted net income per common share (in Dollars per share) $ 0.07 $ 0.27 $ 0.57 $ 0.74
Weighted average common shares outstanding - basic and diluted (in Shares) 190,563 175,069 180,004 182,247