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Acquisition and Disposition of Hotel Properties
 6 Months Ended
Jun. 30, 2016
Business Combinations [Abstract]  
Acquisitions
Acquisition and Disposition of Hotel Properties

Acquisitions

The Company had no hotel acquisitions during the three and six months ended June 30, 2016. The following unaudited pro forma financial information presents the results of the Company for the three and six months ended June 30, 2016 and 2015 as if the hotels acquired in 2015 were acquired on January 1, 2014. The following hotels' pro forma results are included in the pro forma table below: LaPlaya Beach Resort and LaPlaya Beach Club; and The Tuscan Fisherman's Wharf, a Best Western Plus Hotel. The pro forma results below exclude acquisition costs of $4.3 million and $4.5 million for the three and six months ended June 30, 2015, respectively. The unaudited pro forma results have been prepared for comparative purposes only and do not purport to be indicative of either the results of operations that would have actually occurred had these transactions occurred or the future results of operations (in thousands, except per-share data).
 
For the three months ended June 30,
 
For the six months ended June 30,
 
2016
 
2015
 
2016
 
2015
 
(Unaudited)
 
 
 
 
 
 
Total revenues
$
212,272

 
$
208,893

 
$
408,517

 
$
392,420

Operating income (loss)
45,325

 
42,341

 
75,332

 
64,976

Net income (loss) attributable to common shareholders
69,949

 
26,072

 
76,515

 
32,509

Net income (loss) per share available to common shareholders — basic
$
0.97

 
$
0.36

 
$
1.06

 
$
0.45

Net income (loss) per share available to common shareholders — diluted
$
0.96

 
$
0.36

 
$
1.05

 
$
0.45
Dispositions
Dispositions

On May 5, 2016, the Company sold an excess land parcel adjacent to the Revere Hotel Boston Common for $6.0 million. The Company recognized a gain of $3.3 million related to the sale of this land.

On June 1, 2016, the Company sold the Viceroy Miami for $64.5 million. The Company recognized a gain of $30.5 million related to the sale of this hotel property.

On June 1, 2016, the Company sold the The Redbury Hollywood for $40.9 million. The Company recognized a gain of $6.5 million related to the sale of this hotel property.

For the three and six months ended June 30, 2016, the Company's consolidated statements of operations included operating income of $1.2 million and $4.1 million, respectively, related to the hotel properties sold. For the three and six months ended June 30, 2015, the Company's consolidated statements of operations included operating income of $1.7 million and $4.5 million, respectively, related to the hotel properties sold.

The sales of land and hotel properties described above did not represent a strategic shift in the Company’s business plan or primary markets, and therefore, did not qualify as discontinued operations.