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Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues:        
Total revenue $ 341,117 $ 344,714 $ 644,904 $ 643,103
Hotel operating expense:        
Hotel operating expense 187,190 186,531 362,639 358,860
Property taxes, insurance and other 18,823 18,681 38,031 35,910
Operating ground lease 423 2,912 828 5,762
General and administrative 8,308 6,721 16,445 13,598
Loss on impairment of depreciable real estate assets 0 3,135 0 3,135
Depreciation and amortization 48,109 45,743 96,059 90,583
Total expense 262,853 263,723 514,002 507,848
Gain (loss) on sale of real estate (161) 0 1,052 0
Operating income 78,103 80,991 131,954 135,255
Interest and other expense, net (15,857) (13,210) (31,351) (25,129)
Income before income taxes 62,246 67,781 100,603 110,126
Income tax expense (156) (151) (362) (314)
Net income 62,090 67,630 100,241 109,812
Other comprehensive income (loss):        
Interest rate derivatives (10,120) 1,740 (16,164) 8,032
Comprehensive income $ 51,970 $ 69,370 $ 84,077 $ 117,844
Basic and diluted net income per common share (in Dollars per share) $ 0.28 $ 0.29 $ 0.45 $ 0.48
Weighted average common shares outstanding - basic and diluted (in Shares) 223,899 230,342 223,915 230,428
Occupancy [Member]        
Revenues:        
Total revenue $ 315,232 $ 319,022 $ 594,702 $ 593,858
Food and Beverage [Member]        
Revenues:        
Total revenue 15,692 16,518 30,707 32,228
Hotel, Other [Member]        
Revenues:        
Total revenue 10,193 9,174 19,495 17,017
Direct Operating [Member]        
Hotel operating expense:        
Hotel operating expense 80,166 81,242 155,746 157,196
Hotel Administrative [Member]        
Hotel operating expense:        
Hotel operating expense 26,967 26,558 52,597 51,660
Sales and Marketing [Member]        
Hotel operating expense:        
Hotel operating expense 30,831 28,168 58,525 53,500
Public Utilities [Member]        
Hotel operating expense:        
Hotel operating expense 9,561 10,247 19,500 20,530
Repair and Maintenance [Member]        
Hotel operating expense:        
Hotel operating expense 13,041 13,476 25,907 25,929
Royalty [Member]        
Hotel operating expense:        
Hotel operating expense 14,752 14,781 27,863 27,514
Management Service [Member]        
Hotel operating expense:        
Hotel operating expense $ 11,872 $ 12,059 $ 22,501 $ 22,531