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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating revenue      
Room revenue $ 1,010,637 $ 985,361 $ 969,402
Food and beverage revenue 111,691 114,818 107,538
Other operating department revenue 37,667 36,161 32,257
Total revenue 1,159,995 1,136,340 1,109,197
Operating expense      
Room expense 228,656 220,101 213,071
Food and beverage expense 79,589 81,117 75,468
Management and franchise fee expense 118,210 116,462 114,802
Other operating expense 241,654 239,966 243,004
Total property operating expense 668,109 657,646 646,345
Depreciation and amortization 162,500 156,226 144,294
Impairment loss 0 1,003 9,200
Property tax, insurance and other 77,281 76,682 71,443
General and administrative 31,516 37,810 41,671
Transaction and pursuit costs 192 3,058 4,850
Total operating expense 939,598 932,425 917,803
Operating income 220,397 203,915 191,394
Other income 303 1,598 807
Interest income 1,695 1,563 1,881
Interest expense (58,820) (54,788) (56,810)
Income from continuing operations before income tax (expense) benefit 163,575 152,288 137,272
Income tax (expense) benefit (8,190) 39,126 (1,145)
Income from continuing operations 155,385 191,414 136,127
Gain on sale of hotel properties 45,929 28,398 353
Net income 201,314 219,812 136,480
Net income attributable to noncontrolling interests      
Noncontrolling interest in consolidated joint venture (55) (77) (171)
Noncontrolling interest in the Operating Partnership (907) (1,514) (868)
Net income attributable to common shareholders $ 200,352 $ 218,221 $ 135,441
Basic per common share data:      
Net income per share attributable to common shareholders - basic (in dollars per share) $ 1.61 $ 1.69 $ 1.06
Weighted-average number of common shares (in shares) 123,651,003 128,444,469 127,360,669
Diluted per common share data:      
Net income per share attributable to common shareholders - diluted (in dollars per share) $ 1.61 $ 1.68 $ 1.05
Weighted-average number of common shares (in shares) 123,879,007 128,967,754 128,293,843
Amounts attributable to the Company’s common shareholders:      
Income from continuing operations $ 154,606 $ 190,022 $ 135,090
Gain on sale of hotel properties 45,746 28,199 351
Comprehensive income:      
Net income 201,314 219,812 136,480
Unrealized gain (loss) on interest rate derivatives 11,700 (2,958) (7,703)
Comprehensive income 213,014 216,854 128,777
Comprehensive income attributable to the Company $ 212,052 $ 215,263 $ 127,738