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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues        
Total revenues $ 371,124 $ 447,042 $ 1,219,118 $ 1,361,327
Expenses        
Management and franchise fee expense 26,432 34,838 96,376 107,766
Depreciation and amortization 49,295 60,373 162,654 183,429
Property tax, insurance and other 28,798 34,382 90,595 104,418
General and administrative 11,262 11,622 34,187 38,059
Transaction costs (211) 261 773 2,181
Total operating expenses 317,699 380,063 1,028,626 1,157,217
Other income 315 856 939 2,514
Interest income 2,691 1,149 4,935 3,339
Interest expense (23,333) (24,629) (68,632) (78,772)
Gain (loss) on sale of hotel properties, net (1,037) 35,895 (25,872) 32,957
Gain (Loss) on Extinguishment of Debt 0 (1,656) 0 6,010
Income before equity in (loss) income from unconsolidated joint ventures 32,061 78,594 101,862 170,158
Income (Loss) from Equity Method Investments (135) 219 (2,919) 637
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 31,926 78,813 98,943 170,795
Income tax benefit (expense) 529 (4,156) (4,475) (7,852)
Net income 32,455 74,657 94,468 162,943
Net loss (income) attributable to noncontrolling interests:        
Noncontrolling interest in consolidated joint ventures 104 (9) 360 170
Noncontrolling interest in the Operating Partnership (96) (299) (329) (626)
Preferred distributions - consolidated joint venture 0 (374) (186) (1,109)
Redemption of preferred equity - consolidated joint venture 0 0 (1,153) 0
Net Income (Loss) Attributable to Parent 32,463 73,975 93,160 161,378
Preferred dividends (6,279) (6,279) (18,836) (18,836)
Net income attributable to common shareholders $ 26,184 $ 67,696 $ 74,324 $ 142,542
Basic per common share data:        
Net income per share attributable to common shareholders - basic (in dollars per share) $ 0.15 $ 0.39 $ 0.43 $ 0.81
Weighted-average number of common shares - basic (in shares) 170,495,699 174,326,198 171,976,429 174,253,393
Diluted per common share data:        
Net income per share attributable to common shareholders - diluted (in dollars per share) $ 0.15 $ 0.39 $ 0.43 $ 0.81
Weighted-average number of common shares - diluted (in shares) 170,600,787 174,479,341 172,066,473 174,365,101
Comprehensive income:        
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 32,455 $ 74,657 $ 94,468 $ 162,943
Unrealized (loss) gain on interest rate derivatives (5,679) 4,675 (41,460) 29,469
Reclassification of unrealized gain on discontinued cash flow hedges to interest expense 0 0 (2,250) 0
Comprehensive income 26,776 79,332 50,758 192,412
Noncontrolling interest in consolidated joint ventures 104 (9) 360 170
Noncontrolling interest in the Operating Partnership (96) (299) (329) (626)
Preferred distributions - consolidated joint venture 0 (374) (186) (1,109)
Redemption of preferred equity - consolidated joint venture 0 0 (1,153) 0
Comprehensive income attributable to RLJ 26,784 78,650 49,450 190,847
Occupancy [Member]        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax 314,195 377,237 1,030,722 1,138,115
Expenses        
Cost of Goods and Services Sold 80,650 95,161 253,736 279,589
Food and Beverage [Member]        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax 39,447 47,211 133,151 157,850
Expenses        
Cost of Goods and Services Sold 31,425 37,780 101,544 121,450
Hotel, Other [Member]        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax 17,482 22,594 55,245 65,362
Expenses        
Cost of Goods and Services Sold 90,048 105,646 288,761 320,325
Hotel [Member]        
Expenses        
Cost of Goods and Services Sold 228,555 273,425 740,417 829,130
AOCI Attributable to Parent [Member]        
Comprehensive income:        
Unrealized (loss) gain on interest rate derivatives $ (5,679) $ 4,675 (41,460) $ 29,469
Reclassification of unrealized gain on discontinued cash flow hedges to interest expense     $ (2,250)