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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Total revenues $ 22,592 $ 442,083 $ 291,699 $ 809,252
Hotel operating expenses:        
Total hotel operating expenses 40,585 251,008 242,039 487,815
Depreciation and amortization 55,520 53,299 111,348 107,601
Real estate taxes, personal property taxes, property insurance, and ground rent 27,460 30,984 57,226 62,421
General and administrative 8,315 9,853 30,928 20,979
Impairment loss 0 0 20,570 0
(Gain) loss on sale of hotel properties 0 0 (117,448) 0
(Gain) loss and other operating expenses 1,403 1,130 2,836 4,690
Total operating expenses 133,283 346,274 347,499 683,506
Operating income (loss) (110,691) 95,809 (55,800) 125,746
Interest expense (24,091) (28,719) (47,682) (58,047)
Other 303 7 327 16
Income (loss) before income taxes (134,479) 67,097 (103,155) 67,715
Income tax (expense) benefit 3,565 (6,579) 14,309 (1,542)
Net income (loss) (130,914) 60,518 (88,846) 66,173
Net income (loss) attributable to non-controlling interests (401) 145 (282) 165
Net income (loss) attributable to the Company (130,513) 60,373 (88,564) 66,008
Distributions to preferred shareholders (8,139) (8,139) (16,278) (16,278)
Net income (loss) attributable to common shareholders $ (138,652) $ 52,234 $ (104,842) $ 49,730
Net income (loss) per share available to common shareholders, basic (in usd per share) $ (1.06) $ 0.40 $ (0.80) $ 0.38
Net income (loss) per share available to common shareholders, diluted (in usd per share) $ (1.06) $ 0.40 $ (0.80) $ 0.38
Weighted-average number of common shares, basic (in shares) 130,563,831 130,484,956 130,559,838 130,458,164
Weighted-average number of common shares, diluted (in shares) 130,563,831 130,595,854 130,559,838 130,662,407
Comprehensive Income:        
Net income (loss) $ (130,914) $ 60,518 $ (88,846) $ 66,173
Other comprehensive income (loss):        
Unrealized gain (loss) on derivative instruments (405) (21,089) (54,670) (30,128)
Comprehensive income (loss) (131,319) 39,429 (143,516) 36,045
Comprehensive income (loss) attributable to non-controlling interests (402) 86 (437) 80
Comprehensive income (loss) attributable to the Company (130,917) 39,343 (143,079) 35,965
Room        
Revenues        
Total revenues 10,801 306,291 187,942 555,277
Hotel operating expenses:        
Total hotel operating expenses 5,430 70,454 59,555 137,829
Food and beverage        
Revenues        
Total revenues 3,089 97,965 70,181 184,715
Hotel operating expenses:        
Total hotel operating expenses 3,707 66,934 55,566 130,291
Other        
Revenues        
Total revenues 8,702 37,827 33,576 69,260
Hotel operating expenses:        
Total hotel operating expenses $ 31,448 $ 113,620 $ 126,918 $ 219,695