Segment Information

3 Months Ended

Mar. 31, 2016

Segment Information

Segment Information

Note 9.  Segment Information

We operate in two reportable business segments: hotel investments and travel center investments.

	For the Three Months Ended March 31, 2016
	Hotels		Travel Centers		Corporate		Consolidated
Hotel operating revenues	$	396,503	$	-	$	-	$	396,503
Rental income		8,142		68,117		-		76,259
FF&E reserve income		1,356		-		-		1,356
Total revenues		406,001		68,117		-		474,118
Hotel operating expenses		276,305		-		-		276,305
Depreciation and amortization		55,084		32,187		-		87,271
General and administrative		-		-		16,023		16,023
Acquisition related costs		612		-		-		612
Total expenses		332,001		32,187		16,023		380,211
Operating income (loss)		74,000		35,930		(16,023)		93,907
Interest income		-		-		98		98
Interest expense		-		-		(41,586)		(41,586)
Loss on early extinguishment of debt		-		-		(70)		(70)
Income (loss) before income taxes and equity in earnings of an investee		74,000		35,930		(57,581)		52,349
Income tax expense		-		-		(375)		(375)
Equity in earnings of an investee		-		-		77		77
Net income (loss)	$	74,000	$	35,930	$	(57,879)	$	52,051
	As of March 31, 2016
	Hotels		Travel Centers		Corporate		Consolidated
Total assets	$	3,997,596	$	2,444,150	$	90,394	$	6,532,140

	For the Three Months Ended March 31, 2015
	Hotels		Travel Centers		Corporate		Consolidated
Hotel operating revenues	$	369,596	$	-	$	-	$	369,596
Rental income		8,060		56,691		-		64,751
FF&E reserve income		1,165		-		-		1,165
Total revenues		378,821		56,691		-		435,512
Hotel operating expenses		257,658		-		-		257,658
Depreciation and amortization		52,396		26,573		-		78,969
General and administrative		-		-		21,304		21,304
Acquisition related costs		338		-		-		338
Total expenses		310,392		26,573		21,304		358,269
Operating income (loss)		68,429		30,118		(21,304)		77,243
Interest income		-		-		11		11
Interest expense		-		-		(35,454)		(35,454)
Income (loss) before income taxes and equity in earnings of an investee		68,429		30,118		(56,747)		41,800
Income tax expense		-		-		(291)		(291)
Equity in earnings of an investee		-		-		72		72
Net income (loss)	$	68,429	$	30,118	$	(56,966)	$	41,581
	As of December 31, 2015
	Hotels		Travel Centers		Corporate		Consolidated
Total assets	$	3,892,316	$	2,440,393	$	62,088	$	6,394,797