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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Operating revenue        
Room revenue $ 277,039 $ 262,240 $ 516,552 $ 494,799
Food and beverage revenue 30,047 29,587 56,601 58,580
Other operating department revenue 10,026 9,425 19,130 18,278
Total revenue 317,112 301,252 592,283 571,657
Operating expense        
Room expense 59,085 55,207 114,113 109,293
Food and beverage expense 20,525 20,492 40,342 41,256
Management and franchise fee expense 32,762 31,677 61,263 59,719
Other operating expense 61,950 59,228 121,971 119,809
Total property operating expense 174,322 166,604 337,689 330,077
Depreciation and amortization 40,849 37,778 81,579 74,981
Property tax, insurance and other 19,302 18,281 39,457 38,324
General and administrative 6,658 10,393 16,307 20,792
Transaction and pursuit costs 80 853 159 988
Total operating expense 241,211 233,909 475,191 465,162
Operating income 75,901 67,343 117,092 106,495
Other Nonoperating Income (Expense) (326) 456 (24) 546
Interest income 414 363 810 808
Interest expense (14,789) (12,335) (29,681) (25,843)
Income from continuing operations before income tax expense 61,200 55,827 88,197 82,006
Income tax expense (2,482) (89) (3,958) (464)
Income from continuing operations 58,718 55,738 84,239 81,542
Gain (loss) on sale of hotel properties 22 672 (150) 22,970
Net income 58,740 56,410 84,089 104,512
Net (income) loss attributable to noncontrolling interests        
Noncontrolling interest in consolidated joint venture (37) (46) 25 23
Noncontrolling interest in the Operating Partnership (256) (373) (370) (694)
Net income attributable to common shareholders $ 58,447 $ 55,991 $ 83,744 $ 103,841
Basic per common share data:        
Net income per share attributable to common shareholders (in dollars per share) $ 0.47 $ 0.43 $ 0.67 $ 0.79
Weighted-average number of common shares (in shares) 123,544,034 130,670,629 123,641,928 130,969,957
Diluted per common share data:        
Net income per share attributable to common shareholders (in dollars per share) $ 0.47 $ 0.42 $ 0.67 $ 0.78
Weighted-average number of common shares (in shares) 123,942,846 131,618,693 124,051,956 131,947,932
Amounts attributable to the Company’s common shareholders:        
Income from continuing operations $ 58,425 $ 55,324 $ 83,894 $ 81,028
Gain (loss) on sale of hotel properties 22 667 (150) 22,813
Comprehensive income:        
Unrealized (loss) gain on interest rate derivatives (5,366) 5,919 (25,614) (3,484)
Comprehensive income 53,374 62,329 58,475 101,028
Comprehensive (income) loss attributable to the noncontrolling interest in consolidated joint venture (37) (46) 25 23
Comprehensive income attributable to the noncontrolling interest in the Operating Partnership (256) (373) (370) (694)
Comprehensive income attributable to the Company $ 53,081 $ 61,910 $ 58,130 $ 100,357