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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Hotel Revenues        
Business interruption income $ 345 $ 12,065 $ 812 $ 12,198
Revenues 166,053 167,259 318,244 309,690
Expenses        
Property taxes, insurance, rent and other 18,687 15,839 38,486 31,266
Sales and marketing 15,109 15,020 29,180 29,316
General and administrative 14,026 13,415 27,764 26,491
Repairs and maintenance 5,131 5,126 10,093 9,910
Depreciation and amortization 19,788 19,261 38,743 38,973
Total Hotel Operating Expenses 141,116 134,708 279,074 266,233
Asset management fees to affiliate and other expenses 3,878 3,836 7,609 7,755
Corporate general and administrative expenses 3,806 2,749 6,915 5,716
Gain on hurricane-related property damage (232) (496) 0 (1,065)
Total Expenses 148,568 140,797 293,598 278,639
Operating income before net gain on sale of real estate 17,485 26,462 24,646 31,051
Net gain on sale of real estate 0 0 0 31,929
Operating Income 17,485 26,462 24,646 62,980
Interest expense (16,578) (16,488) (32,987) (33,269)
Equity in earnings of equity method investments in real estate, net 1,401 1,075 860 51
Net loss on extinguishment of debt (136) (188) (136) (188)
Other income 128 244 251 367
Income (loss) before income taxes 2,300 11,105 (7,366) 29,941
Provision for income taxes (983) (3,238) (1,103) (2,531)
Net Income (Loss) 1,317 7,867 (8,469) 27,410
Income attributable to noncontrolling interests (inclusive of Available Cash Distributions to a related party of $469, $0, $2,368 and $972, respectively) (1,018) (146) (5,596) (5,503)
Net Income (Loss) Attributable to CWI Stockholders $ 299 $ 7,721 $ (14,065) $ 21,907
Basic and Diluted (Loss) Income Per Share (usd per share) $ 0.00 $ 0.06 $ (0.10) $ 0.16
Basic and Diluted Weighted-Average Shares Outstanding (shares) 141,339,013 139,297,483 141,016,973 139,040,428
Rooms        
Hotel Revenues        
Hotel Revenues $ 106,064 $ 100,775 $ 202,301 $ 192,566
Expenses        
Costs of services 22,618 22,229 44,611 44,043
Food and beverage        
Hotel Revenues        
Hotel Revenues 45,883 43,147 88,645 83,621
Expenses        
Costs of services 30,085 29,116 59,169 57,026
Other operating revenue        
Hotel Revenues        
Hotel Revenues 13,761 11,272 26,486 21,305
Expenses        
Costs of services 7,295 6,517 14,154 12,782
Management fees        
Expenses        
Costs of services 4,689 4,788 9,488 9,461
Utilities        
Expenses        
Costs of services $ 3,688 $ 3,397 $ 7,386 $ 6,965