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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Total revenue $ 86,590 $ 79,643 $ 160,623 $ 150,478
Total hotel operating expenses 42,965 39,080 82,655 75,335
Depreciation and amortization 11,921 11,714 23,958 23,718
Impairment loss 0 6,663 0 6,663
Property taxes, ground rent and insurance 6,180 5,573 11,955 10,361
General and administrative 3,547 3,287 7,169 6,555
Other charges 264 15 250 15
Reimbursed costs from unconsolidated real estate entities 2,577 2,402 5,234 4,896
Total operating expenses 67,454 68,734 131,221 127,543
Operating income 19,136 10,909 29,402 22,935
Interest and other income 15 6 17 18
Interest expense, including amortization of deferred fees (6,667) (6,773) (13,298) (13,765)
Loss on sale of hotel property (1) 0 (18) 0
Income from unconsolidated real estate entities 1,004 927 250 842
Income before income tax expense 13,487 5,069 16,353 10,030
Income tax expense 0 0 0 (317)
Net income 13,487 5,069 16,353 9,713
Net income attributable to noncontrolling interests (100) (35) (120) (66)
Net income attributable to common shareholders $ 13,387 $ 5,034 $ 16,233 $ 9,647
Income per Common Share - Basic:        
Net income attributable to common shareholders (in dollars per share) $ 0.29 $ 0.13 $ 0.35 $ 0.25
Income per Common Share - Diluted:        
Net income attributable to common shareholders (in dollars per share) $ 0.29 $ 0.13 $ 0.35 $ 0.25
Weighted average number of common shares outstanding:        
Basic (in shares) 45,867,625 38,525,306 45,811,023 38,443,663
Diluted (in shares) 46,084,688 38,749,661 46,006,561 38,659,189
Distributions declared per common share (in dollars per share) $ 0.33 $ 0.33 $ 0.66 $ 0.66
Room        
Total revenue $ 78,274 $ 72,801 $ 144,525 $ 137,194
Total hotel operating expenses 15,945 15,024 30,499 28,529
Food and beverage        
Total revenue 2,212 1,473 4,310 2,975
Total hotel operating expenses 1,739 1,212 3,479 2,464
Other        
Total revenue 3,527 2,967 6,554 5,413
Cost reimbursements from unconsolidated real estate entities        
Total revenue 2,577 2,402 5,234 4,896
Telephone        
Total hotel operating expenses 415 387 874 795
Other hotel operating        
Total hotel operating expenses 796 710 1,517 1,310
General and administrative        
Total hotel operating expenses 6,781 5,974 12,814 11,628
Franchise and marketing fees        
Total hotel operating expenses 6,575 6,089 12,100 11,391
Advertising and promotions        
Total hotel operating expenses 1,485 1,270 3,050 2,602
Utilities        
Total hotel operating expenses 2,446 2,352 5,146 4,722
Repairs and maintenance        
Total hotel operating expenses 3,637 3,179 7,261 6,431
Management fees        
Total hotel operating expenses 2,807 2,588 5,243 4,835
Insurance        
Total hotel operating expenses $ 339 $ 295 $ 672 $ 628