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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating revenue      
Room revenue $ 985,361 $ 969,402 $ 844,741
Food and beverage revenue 114,818 107,538 97,083
Other operating department revenue 36,161 32,257 28,556
Total revenue 1,136,340 1,109,197 970,380
Operating expense      
Room expense 220,101 213,071 186,667
Food and beverage expense 81,117 75,468 67,945
Management and franchise fee expense 116,462 114,802 99,158
Other operating expense 239,966 243,004 221,337
Total property operating expense 657,646 646,345 575,107
Depreciation and amortization 156,226 144,294 127,231
Impairment loss 1,003 9,200 0
Property tax, insurance and other 76,682 71,443 63,627
General and administrative 37,810 41,671 35,466
Transaction and pursuit costs 3,058 4,850 4,410
Total operating expense 932,425 917,803 805,841
Operating income 203,915 191,394 164,539
Other income 1,598 807 903
Interest income 1,563 1,881 1,665
Interest expense (54,788) (56,810) (64,348)
Gain on foreclosure 0 0 4,863
Income from continuing operations before income tax benefit (expense) 152,288 137,272 107,622
Income tax benefit (expense) 39,126 (1,145) (879)
Income from continuing operations 191,414 136,127 106,743
Income from discontinued operations 0 0 7,436
Gain on disposal of hotel properties 28,398 353 0
Net income 219,812 136,480 114,179
Net income attributable to noncontrolling interests      
Noncontrolling interest in consolidated joint venture (77) (171) (540)
Noncontrolling interest in the Operating Partnership (1,514) (868) (718)
Net income attributable to common shareholders $ 218,221 $ 135,441 $ 112,921
Basic per common share data:      
Net income per share attributable to common shareholders before discontinued operations (in dollars per share) $ 1.69 $ 1.06 $ 0.89
Discontinued operations (in dollars per share) 0.00 0.00 0.06
Net income per share attributable to common shareholders (in dollars per share) $ 1.69 $ 1.06 $ 0.95
Weighted-average number of common shares (in shares) 128,444,469 127,360,669 117,950,066
Diluted per common share data:      
Net income per share attributable to common shareholders before discontinued operations (in dollars per share) $ 1.68 $ 1.05 $ 0.88
Discontinued operations (in dollars per share) 0.00 0.00 0.06
Net income per share attributable to common shareholders (in dollars per share) $ 1.68 $ 1.05 $ 0.94
Weighted-average number of common shares (in shares) 128,967,754 128,293,843 118,738,626
Amounts attributable to the Company’s common shareholders:      
Income from continuing operations $ 190,022 $ 135,090 $ 105,539
Income from discontinued operations 0 0 7,382
Gain on disposal of hotel properties 28,199 351 0
Net income attributable to common shareholders 218,221 135,441 112,921
Comprehensive income:      
Net income 219,812 136,480 114,179
Unrealized loss on interest rate derivatives (2,958) (7,703) (5,941)
Comprehensive income 216,854 128,777 108,238
Comprehensive income attributable to the noncontrolling interest in consolidated joint venture (77) (171) (540)
Comprehensive income attributable to the noncontrolling interest in the Operating Partnership (1,514) (868) (718)
Comprehensive income attributable to the Company $ 215,263 $ 127,738 $ 106,980