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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Hotel operating revenues $ 117,356 $ 541,215 $ 500,859 $ 996,078
Rental income 97,584 68,217 197,656 136,890
FF&E reserve income 0 1,130 201 2,502
Total revenues 214,940 610,562 698,716 1,135,470
Expenses:        
Hotel operating expenses 46,957 380,431 318,105 698,116
Other operating expenses 3,565 1,272 7,324 2,712
Depreciation and amortization 127,427 99,196 255,353 198,561
General and administrative 11,302 12,207 25,326 24,442
Loss on asset impairment 28,514 0 45,254 0
Total expenses 217,765 493,106 651,362 923,831
Gain (loss) on sale of real estate (2,853) 0 (9,764) 159,535
Gain on insurance settlement 62,386 0 62,386 0
Dividend income 0 876 0 1,752
Unrealized gains (losses) on equity securities, net 3,848 (60,788) (1,197) (39,811)
Interest income 15 449 277 1,086
Interest expense (including amortization of debt issuance costs and debt discounts and premiums of $3,486, $2,570, $6,774 and $5,140, respectively) (72,072) (49,601) (143,147) (99,367)
Loss on early extinguishment of debt (6,970) 0 (6,970) 0
Income (loss) before income taxes and equity in earnings of an investee (18,471) 8,392 (51,061) 234,834
Income tax (expense) benefit (16,660) 260 (17,002) (799)
Equity in earnings (losses) of an investee (2,218) 130 (2,936) 534
Net income (loss) (37,349) 8,782 (70,999) 234,569
Other comprehensive income (loss):        
Equity interest in investee’s unrealized gains (losses) 0 71 0 137
Other comprehensive income (loss) 0 71 0 137
Comprehensive income (loss) $ (37,349) $ 8,853 $ (70,999) $ 234,706
Weighted average common shares outstanding (basic) (in shares) 164,382 164,284 164,376 164,281
Weighted average common shares outstanding (diluted) (in shares) 164,382 164,326 164,376 164,324
Net income per common share (basic and diluted) (in dollars per share) $ (0.23) $ 0.05 $ (0.43) $ 1.43