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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues        
Total Revenues $ 205,480 $ 201,793 $ 593,036 $ 589,688
Hotel operating expenses:        
Hotel operating expenses 119,663 116,870 353,814 352,432
Depreciation and amortization 24,765 25,210 74,229 77,456
Real estate taxes, personal property taxes, property insurance, and ground rent 11,206 11,345 35,809 37,095
General and administrative 10,286 4,467 21,465 17,045
Impairment and other losses 74 3,191 1,452 4,240
Gain on insurance settlement (866) 0 (13,954) 0
Total operating expenses 165,128 161,083 472,815 488,268
Operating income (loss) 40,352 40,710 120,221 101,420
Interest income 40 1 162 97
Interest expense (12,647) (8,969) (33,274) (28,015)
Other 3,891 132 29,247 132
Gain on sale of hotel properties 0 290 0 14,877
Income (loss) before income taxes 31,636 32,164 116,356 88,511
Income tax (expense) benefit (1,719) (1,593) (3,628) (181)
Net income (loss) 29,917 30,571 112,728 88,330
Net income (loss) attributable to non-controlling interests 125 128 424 341
Net income (loss) attributable to the Company 29,792 30,443 112,304 87,989
Distributions to preferred shareholders (4,023) (4,023) (12,070) (12,070)
Net income (loss) attributable to common shareholders $ 25,769 $ 26,420 $ 100,234 $ 75,919
Net income (loss) per share available to common shareholders, basic (usd per share) $ 0.37 $ 0.38 $ 1.45 $ 1.08
Net income (loss) per share available to common shareholders, diluted (in usd per share) $ 0.37 $ 0.38 $ 1.44 $ 1.08
Weighted-average number of common shares, basic (in shares) 68,912,185 68,814,805 68,900,402 69,854,618
Weighted-average number of common shares, diluted (in shares) 69,255,858 69,202,920 69,267,098 70,228,074
Comprehensive Income:        
Net income (loss) $ 29,917 $ 30,571 $ 112,728 $ 88,330
Other comprehensive income (loss):        
Unrealized gain (loss) on derivative instruments 829 733 8,119 1,544
Comprehensive income (loss) 30,746 31,304 120,847 89,874
Comprehensive income (loss) attributable to non-controlling interests 128 131 452 346
Comprehensive income (loss) attributable to the Company 30,618 31,173 120,395 89,528
Occupancy [Member]        
Revenues        
Total Revenues 146,907 144,770 411,396 412,862
Hotel operating expenses:        
Hotel operating expenses 34,675 34,453 99,540 102,076
Food and Beverage [Member]        
Revenues        
Total Revenues 43,141 42,839 136,919 134,858
Hotel operating expenses:        
Hotel operating expenses 30,687 29,913 93,611 91,403
Hotel, Owned [Member]        
Revenues        
Total Revenues 15,432 14,184 44,721 41,968
Hotel operating expenses:        
Hotel operating expenses $ 54,301 $ 52,504 $ 160,663 $ 158,953