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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenue:        
Room $ 72,768 $ 67,698 $ 136,702 $ 122,729
Food and beverage 1,726 1,355 3,234 2,522
Other 2,637 2,492 4,990 4,427
Cost reimbursements from unconsolidated real estate entities 870 869 1,924 1,717
Total revenue 78,001 72,414 146,850 131,395
Hotel operating expenses:        
Room 14,574 12,755 28,385 23,696
Food and beverage 1,245 973 2,423 1,820
Telephone 430 416 851 825
Other hotel operating 638 661 1,227 1,188
General and administrative 5,700 5,330 11,196 9,971
Franchise and marketing fees 5,948 5,560 11,136 10,055
Advertising and promotions 1,344 1,192 2,696 2,411
Utilities 2,235 2,100 4,617 4,426
Repairs and maintenance 3,158 2,856 6,359 5,677
Management fees 2,384 2,197 4,613 4,013
Insurance 338 285 675 586
Total hotel operating expenses 37,994 34,325 74,178 64,668
Depreciation and amortization 12,281 12,063 24,756 23,586
Property taxes, ground rent and insurance 5,014 4,254 10,037 8,339
General and administrative 2,972 2,156 6,084 5,583
Hotel property acquisition costs and other charges 298 524 310 784
Reimbursed costs from unconsolidated real estate entities 870 869 1,924 1,717
Total operating expenses 59,429 54,191 117,289 104,677
Operating income 18,572 18,223 29,561 26,718
Interest and other income 15 166 36 160
Interest expense, including amortization of deferred fees (7,092) (6,852) (14,129) (13,665)
Loss on early extinguishment of debt 0 0 (4) 0
Income from unconsolidated real estate entities 942 1,333 295 1,077
Loss on sale from unconsolidated real estate entities (8) 0 (8) 0
Income before income tax expense 12,429 12,870 15,751 14,290
Income tax expense (179) (25) (179) (25)
Net income 12,250 12,845 15,572 14,265
Net income attributable to noncontrolling interests (82) (82) (104) (90)
Net income attributable to common shareholders $ 12,168 $ 12,763 $ 15,468 $ 14,175
Income per Common Share - Basic:        
Net income attributable to common shareholders (in dollars per share) $ 0.32 $ 0.33 $ 0.40 $ 0.37
Income per Common Share - Diluted:        
Net income attributable to common shareholders (in dollars per share) $ 0.31 $ 0.33 $ 0.40 $ 0.37
Weighted average number of common shares outstanding:        
Basic (in shares) 38,299,132 38,211,833 38,286,790 37,618,234
Diluted (in shares) 38,734,987 38,618,824 38,704,693 38,022,675
Distributions per common share: (in dollars per share) $ 0.33 $ 0.3 $ 0.64 $ 0.6