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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenues:    
Total revenues $ 524,908 $ 528,633
Expenses:    
Hotel operating expenses 319,125 314,982
Depreciation and amortization 99,365 99,617
General and administrative 12,235 11,734
Total expenses 430,725 426,333
Gain on sale of real estate 159,535 0
Dividend income 876 626
Unrealized gains and losses on equity securities, net 20,977 24,955
Interest income 637 292
Interest expense (including amortization of debt issuance costs and debt discounts and premiums of $2,570 and $2,478, respectively) (49,766) (47,540)
Income before income taxes and equity in earnings of an investee 226,442 80,633
Income tax expense (1,059) (471)
Equity in earnings of an investee 404 44
Net income 225,787 80,206
Other comprehensive income (loss):    
Equity interest in investee's unrealized gains (losses) 66 (93)
Other comprehensive income (loss) 66 (93)
Comprehensive income $ 225,853 $ 80,113
Weighted average common shares outstanding (basic) (in shares) 164,278 164,199
Weighted average common shares outstanding (diluted) (in shares) 164,322 164,219
Net income per common share (basic and diluted) (in dollars per share) $ 1.37 $ 0.49
Hotel operating revenues    
Revenues:    
Total revenues $ 455,385 $ 445,276
Rental income    
Revenues:    
Total revenues 68,151 81,993
FF&E reserve income    
Revenues:    
Total revenues $ 1,372 $ 1,364