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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Operating revenue        
Room revenue $ 262,240 $ 259,447 $ 494,799 $ 465,472
Food and beverage revenue 29,587 27,481 58,580 50,848
Other operating department revenue 9,425 8,119 18,278 15,100
Total revenue 301,252 295,047 571,657 531,420
Operating expense        
Room expense 55,207 54,136 109,293 101,657
Food and beverage expense 20,492 18,746 41,256 35,619
Management and Franchise Fee expense 31,677 31,052 59,719 55,865
Other operating expense 59,228 59,837 119,809 116,213
Total property operating expense 166,604 163,771 330,077 309,354
Depreciation and amortization 37,778 35,422 74,981 68,298
Impairment of Real Estate   0 0 0
Property tax, insurance and other 18,281 17,938 38,324 35,190
General and administrative 10,393 10,135 20,792 20,264
Transaction and pursuit costs 853 2,411 988 3,895
Total operating expense 233,909 229,677 465,162 437,001
Operating income 67,343 65,370 106,495 94,419
Other income 456 405 546 515
Interest income 363 962 808 1,285
Interest expense (12,335) (14,142) (25,843) (28,788)
Income from continuing operations before income tax expense 55,827 52,595 82,006 67,431
Income tax expense (89) (494) (464) (788)
Income from continuing operations 55,738 52,101 81,542 66,643
Gain (loss) on disposal of hotel properties 672 1,260 22,970 (1,297)
Net income 56,410 53,361 104,512 65,346
Net (income) loss attributable to noncontrolling interests        
Noncontrolling interest in consolidated joint venture (46) (79) 23 (45)
Noncontrolling interest in common units of Operating Partnership (373) (378) (694) (465)
Net income attributable to common shareholders $ 55,991 $ 52,904 $ 103,841 $ 64,836
Basic per common share data:        
Net income per share attributable to common shareholders (in dollars per share) $ 0.43 $ 0.42 $ 0.79 $ 0.52
Weighted-average number of common shares (in shares) 130,670,629 125,260,607 130,969,957 123,510,507
Diluted per common share data:        
Net income per share attributable to common shareholders (in dollars per share) $ 0.42 $ 0.42 $ 0.78 $ 0.52
Weighted-average number of common shares (in shares) 131,618,693 126,475,051 131,947,932 124,696,925
Amounts attributable to the Company’s common shareholders        
Income from continuing operations $ 55,324 $ 51,652 $ 81,028 $ 66,124
Gain (loss) on disposal of hotel properties 667 1,252 22,813 (1,288)
Net income attributable to common shareholders 55,991 52,904 103,841 64,836
Comprehensive income        
Unrealized gain (loss) on interest rate derivatives 5,919 (6,913) (3,484) (8,274)
Comprehensive income 62,329 46,448 101,028 57,072
Comprehensive (income) loss attributable to the noncontrolling interest in consolidated joint venture (46) (79) 23 (45)
Comprehensive income attributable to the noncontrolling interest in the Operating Partnership (373) (378) (694) (465)
Comprehensive income attributable to the Company $ 61,910 $ 45,991 $ 100,357 $ 56,562