XML 14 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Operating revenue        
Room revenue $ 260,659 $ 253,163 $ 777,211 $ 747,962
Food and beverage revenue 26,001 27,027 82,602 85,607
Other operating department revenue 9,599 9,230 28,729 27,508
Total revenue 296,259 289,420 888,542 861,077
Operating expense        
Room expense 59,671 56,310 173,783 165,603
Food and beverage expense 19,135 19,494 59,477 60,750
Management and franchise fee expense 29,607 28,985 90,869 88,704
Other operating expense 62,162 61,676 184,133 181,485
Total property operating expense 170,575 166,465 508,262 496,542
Depreciation and amortization 40,953 39,847 122,532 114,828
Property tax, insurance and other 20,575 19,458 60,032 57,782
General and administrative 7,215 8,249 23,522 29,041
Transaction and pursuit costs 98 2,017 257 3,005
Total operating expense 239,416 236,036 714,605 701,198
Operating income 56,843 53,384 173,937 159,879
Other Nonoperating Income (Expense) 112 557 86 1,103
Interest income 430 373 1,240 1,181
Interest expense (14,552) (14,042) (44,233) (39,885)
Income from continuing operations before income tax expense 42,833 40,272 131,030 122,278
Income tax expense (1,439) (151) (5,397) (615)
Income from continuing operations 41,394 40,121 125,633 121,663
(Loss) gain on sale of hotel properties (5) 812 (155) 23,782
Net income 41,389 40,933 125,478 145,445
Net income attributable to noncontrolling interests        
Noncontrolling interest in consolidated joint venture (32) (49) (7) (26)
Noncontrolling interest in the Operating Partnership (183) (290) (553) (984)
Net income attributable to common shareholders $ 41,174 $ 40,594 $ 124,918 $ 144,435
Basic per common share data:        
Net income per share attributable to common shareholders (in dollars per share) $ 0.33 $ 0.32 $ 1.00 $ 1.10
Weighted-average number of common shares (in shares) 123,621,323 127,663,480 123,635,010 129,855,686
Diluted per common share data:        
Net income per share attributable to common shareholders (in dollars per share) $ 0.33 $ 0.31 $ 1.00 $ 1.10
Weighted-average number of common shares (in shares) 123,836,452 128,143,154 123,859,753 130,410,613
Amounts attributable to the Company’s common shareholders:        
Income from continuing operations $ 41,179 $ 39,788 $ 125,072 $ 120,819
(Loss) gain on sale of hotel properties (5) 806 (154) 23,616
Comprehensive income:        
Unrealized gain (loss) on interest rate derivatives 9,470 (15,166) (16,144) (18,650)
Comprehensive income 50,859 25,767 109,334 126,795
Comprehensive income attributable to the noncontrolling interest in consolidated joint venture (32) (49) (7) (26)
Comprehensive income attributable to the noncontrolling interest in the Operating Partnership (183) (290) (553) (984)
Comprehensive income attributable to the Company $ 50,644 $ 25,428 $ 108,774 $ 125,785