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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenue:        
Room $ 74,736 $ 73,357 $ 211,438 $ 196,086
Food and beverage 1,494 1,345 4,728 3,866
Other 2,699 2,698 7,689 7,126
Cost reimbursements from unconsolidated real estate entities 804 928 2,728 2,645
Total revenue 79,733 78,328 226,583 209,723
Hotel operating expenses:        
Room 15,068 13,430 43,453 37,126
Food and beverage 1,280 1,042 3,703 2,862
Telephone 449 412 1,300 1,237
Other hotel operating 563 638 1,790 1,826
General and administrative 5,652 5,430 16,848 15,415
Franchise and marketing fees 6,157 6,092 17,293 16,146
Advertising and promotions 1,203 1,324 3,899 3,735
Utilities 2,684 2,733 7,301 7,159
Repairs and maintenance 3,084 2,887 9,443 8,564
Management fees 2,558 2,588 7,171 6,601
Insurance 318 288 993 874
Total hotel operating expenses 39,016 36,864 113,194 101,545
Depreciation and amortization 11,997 12,559 36,753 36,146
Property taxes, ground rent and insurance 5,417 4,349 15,454 12,688
General and administrative 2,992 2,792 9,076 8,375
Hotel property acquisition costs and other charges 49 623 359 1,406
Reimbursed costs from unconsolidated real estate entities 804 928 2,728 2,645
Total operating expenses 60,275 58,115 177,564 162,805
Operating income 19,458 20,213 49,019 46,918
Interest and other income 7 31 43 191
Interest expense, including amortization of deferred fees (7,082) (7,031) (21,211) (20,696)
Loss on early extinguishment of debt 0 0 (4) 0
Income from unconsolidated real estate entities 1,051 1,467 1,346 2,543
Loss on sale from unconsolidated real estate entities 0 0 (8) 0
Income before income tax expense 13,434 14,680 29,185 28,956
Income tax benefit (expense) 12 (274) (167) (299)
Net income 13,446 14,406 29,018 28,657
Net income attributable to noncontrolling interests (91) (91) (195) (181)
Net income attributable to common shareholders $ 13,355 $ 14,315 $ 28,823 $ 28,476
Income per Common Share - Basic:        
Net income attributable to common shareholders (in dollars per share) $ 0.35 $ 0.37 $ 0.75 $ 0.75
Income per Common Share - Diluted:        
Net income attributable to common shareholders (in dollars per share) $ 0.34 $ 0.37 $ 0.74 $ 0.74
Weighted average number of common shares outstanding:        
Basic (in shares) 38,307,382 38,212,028 38,293,704 37,818,340
Diluted (in shares) 38,768,638 38,614,360 38,726,998 38,221,940
Distributions per common share: (in dollars per share) $ 0.33 $ 0.3 $ 0.97 $ 0.9