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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues:    
Total revenues $ 305,719 $ 258,068
Hotel operating expenses:    
Total hotel operating expenses 214,310 174,360
Depreciation and amortization 58,369 59,100
Real estate taxes, personal property taxes, property insurance, and ground rent 28,904 30,457
General and administrative 9,988 9,708
Impairment 0 60,983
Gain on sale of hotel properties (6,635) 0
Business interruption insurance income (8,089) 0
Other operating expenses 3,670 1,123
Total operating expenses 300,517 335,731
Operating income (loss) 5,202 (77,663)
Interest expense (27,430) (22,572)
Other 183 19
Income (loss) before income taxes (22,045) (100,216)
Income tax (expense) benefit 0 0
Net income (loss) (22,045) (100,216)
Net income (loss) attributable to non-controlling interests 883 (686)
Net income (loss) attributable to the Company (22,928) (99,530)
Distributions to preferred shareholders (10,988) (11,344)
Net income (loss) attributable to common shareholders $ (33,916) $ (110,874)
Net income (loss) per share available to common shareholders, basic (in usd per share) $ (0.27) $ (0.85)
Net income (loss) per share available to common shareholders, diluted (in usd per share) $ (0.27) $ (0.85)
Weighted-average number of common shares, basic (in shares) 125,488,415 130,904,299
Weighted-average number of common shares, diluted (in shares) 125,488,415 130,904,299
Comprehensive Income:    
Net income (loss) $ (22,045) $ (100,216)
Other comprehensive income (loss):    
Change in fair value of derivative instruments (46) 27,367
Amounts reclassified from other comprehensive income (5,825) 4,374
Comprehensive income (loss) (27,916) (68,475)
Comprehensive income (loss) attributable to non-controlling interests 845 (479)
Comprehensive income (loss) attributable to the Company (28,761) (67,996)
Room    
Revenues:    
Total revenues 196,374 168,632
Hotel operating expenses:    
Total hotel operating expenses 56,424 42,463
Food and beverage    
Revenues:    
Total revenues 75,763 62,424
Hotel operating expenses:    
Total hotel operating expenses 58,672 46,050
Other    
Revenues:    
Total revenues 33,582 27,012
Hotel operating expenses:    
Total hotel operating expenses $ 99,214 $ 85,847