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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
Cash flows from operating activities:          
Net income $ 13,487 $ 5,069 $ 16,353 $ 9,713  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation     23,841 23,611  
Amortization of deferred franchise fees     117 107  
Amortization of deferred financing fees included in interest expense     459 141  
Impairment loss 0 6,663 0 6,663 $ 6,700
Share based compensation     2,114 1,786  
Income from unconsolidated real estate entities (1,004) (927) (250) (842)  
Changes in assets and liabilities:          
Hotel receivables     (2,929) (2,887)  
Deferred tax asset     0 426  
Deferred costs     (147) (44)  
Prepaid expenses and other assets     (1,937) (2,349)  
Accounts payable and accrued expenses     366 321  
Net cash provided by operating activities     37,987 36,646  
Cash flows from investing activities:          
Improvements and additions to hotel properties     (12,760) (12,865)  
Distributions from unconsolidated entities     2,843 719  
Investment in unconsolidated real estate entities     0 (5,037)  
Net cash used in investing activities     (9,917) (17,183)  
Cash flows from financing activities:          
Borrowings on revolving credit facility     59,000 24,000  
Repayments on revolving credit facility     (64,000) (31,500)  
Payments on mortgage debt     (2,425) (2,070)  
Payment of financing costs     (953) 0  
Payment of offering costs     (257) (512)  
Proceeds from issuance of common shares     10,681 16,871  
Distributions-common shares/units     (30,657) (25,634)  
Net cash used in financing activities     (28,611) (18,845)  
Net change in cash, cash equivalents and restricted cash     (541) 618  
Cash, cash equivalents and restricted cash, beginning of period     36,499 37,201 37,201
Cash, cash equivalents and restricted cash, end of period $ 35,958 $ 37,819 35,958 37,819 $ 36,499
Supplemental disclosure of cash flow information:          
Cash paid for interest     12,549 13,297  
Cash paid for income taxes     $ 733 $ 294