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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
REVENUE        
Revenue $ 62,526 $ 64,798 $ 115,247 $ 120,575
EXPENSES AND OTHER        
Operating expense 13,483 14,306 25,990 27,945
Hotel administrative expense 5,569 5,404 10,668 10,726
Sales and marketing 5,257 5,279 9,857 10,075
Repair and maintenance 2,641 2,720 5,245 5,422
Management fees 1,905 2,012 3,471 3,708
Taxes, insurance and other 3,372 3,148 6,173 7,154
General and administrative 2,474 2,103 4,754 3,501
Depreciation expense 7,632 8,416 15,773 17,165
Impairment of investment in real estate 4,457 18,307 18,873 18,307
(Gain) loss on sale of hotel properties (74)   355  
Gain on insurance proceeds (4,300)   (20,361)  
Interest expense, net 9,194 8,821 18,528 18,245
Loss (gain) on derivatives   58   (2)
Income (loss) before income tax (expense) benefit 6,200 (10,702) 6,868 (11,054)
Income tax (expense) benefit (768) 2,150 267 2,848
Net income (loss) 5,432 (8,552) 7,135 (8,206)
Series A Preferred Stock dividends (1,586) (2,011) (3,878) (3,470)
Net income (loss) available for common stockholder $ 3,846 $ (10,563) $ 3,257 $ (11,676)
Basic and diluted net income (loss) per common share        
Basic and diluted net income (loss) per common share available to common stockholder $ 38,460 $ (105,630) $ 32,570 $ (116,760)
Dividends declared per common share $ 54,150 $ 60,000 $ 335,150 $ 100,000
Weighted average common shares outstanding - basic and diluted 100 100 100 100
Room Revenue [Member]        
REVENUE        
Revenue $ 59,708 $ 61,821 $ 109,810 $ 114,361
Other Revenue [Member]        
REVENUE        
Revenue 2,818 2,977 5,437 6,214
Utilities [Member]        
EXPENSES AND OTHER        
Expenses 1,578 1,769 3,289 3,638
Franchise Fees [Member]        
EXPENSES AND OTHER        
Expenses $ 3,138 $ 3,157 $ 5,764 $ 5,745