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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenues:    
Room $ 125,570 $ 131,404
Food and beverage 43,632 50,696
Other operating 12,976 14,145
Total revenues 182,178 196,245
Hotel operating expenses:    
Room 32,983 32,225
Food and beverage 29,288 34,037
Other direct and indirect 52,168 55,648
Total hotel operating expenses 114,439 121,910
Depreciation and amortization 26,296 25,061
Real estate taxes, personal property taxes, property insurance, and ground rent 13,712 12,465
General and administrative 6,151 6,802
Impairment loss 1,049 0
Total operating expenses 161,647 166,238
Operating income (loss) 20,531 30,007
Interest income 0 625
Interest expense (9,341) (10,801)
Other 64 (1,771)
Equity in earnings (loss) of joint venture 0 (4,915)
Income (loss) before income taxes 11,254 13,145
Income tax (expense) benefit 2,835 3,492
Net income (loss) 14,089 16,637
Net income (loss) attributable to non-controlling interests 55 58
Net income (loss) attributable to the Company 14,034 16,579
Distributions to preferred shareholders (4,023) (5,844)
Issuance costs of redeemed preferred shares 0 (4,169)
Net income (loss) attributable to common shareholders $ 10,011 $ 6,566
Net income (loss) per share available to common shareholders, basic (in usd per share) $ 0.14 $ 0.09
Net income (loss) per share available to common shareholders, diluted (in usd per share) $ 0.14 $ 0.09
Weighted-average number of common shares, basic (in shares) 71,610,994 71,836,815
Weighted-average number of common shares, diluted (in shares) 71,892,820 72,311,081
Comprehensive Income:    
Net income (loss) $ 14,089 $ 16,637
Other comprehensive income (loss):    
Unrealized gain (loss) on derivative instruments 2,104 (11,484)
Comprehensive income (loss) 16,193 5,153
Comprehensive income (loss) attributable to non-controlling interests 62 20
Comprehensive income (loss) attributable to the Company $ 16,131 $ 5,133