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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:        
Hotel operating revenues $ 400,453 $ 338,375 $ 1,116,843 $ 787,463
Rental income 97,798 98,724 290,949 286,742
Total revenues 498,251 437,099 1,407,792 1,074,205
Expenses:        
Hotel operating expenses 318,266 285,233 933,803 723,769
Other operating expenses 3,511 4,437 9,162 11,758
Depreciation and amortization 101,514 124,163 306,147 370,208
General and administrative 11,293 14,231 35,743 40,840
Transaction related costs 0 3,149 1,920 28,934
Loss on asset impairment, net 1,172 0 9,720 2,110
Total expenses 435,756 431,213 1,296,495 1,177,619
Other operating income:        
(Loss) gain on sale of real estate, net (164) 94 44,235 10,934
Unrealized gains on equity securities, net 23,056 24,348 2,737 20,367
Interest income 1,442 203 2,735 485
Interest expense (including amortization of debt issuance costs and debt discounts and premiums of $4,595, $5,877, $15,529 and $15,123, respectively) (81,740) (92,458) (263,904) (273,227)
Loss on early extinguishment of debt 0 0 (791) 0
Income (loss) before income taxes and equity in earnings of an investee 5,089 (61,927) (103,691) (344,855)
Income tax (expense) benefit (390) 55 (1,558) (1,009)
Equity in earnings of an investee 2,801 2,158 4,277 50
Net income (loss) 7,500 (59,714) (100,972) (345,814)
Other comprehensive income:        
Equity interest in investee’s unrealized gains 684 5 734 5
Other comprehensive income 684 5 734 5
Comprehensive income (loss) $ 8,184 $ (59,709) $ (100,238) $ (345,809)
Weighted average common shares outstanding (basic) (in shares) 164,745 164,590 164,697 164,532
Weighted average common shares outstanding (diluted) (in shares) 164,745 164,590 164,697 164,532
Net income (loss) per common share (basic) (in dollars per share) $ 0.05 $ (0.36) $ (0.61) $ (2.10)
Net income (loss) per common share (diluted) (in dollars per share) $ 0.05 $ (0.36) $ (0.61) $ (2.10)
Revenue from contract with customer, product and service, extensible enumeration Hotels Hotels Hotels Hotels
Cost, product and service, extensible enumeration Hotels Hotels Hotels Hotels