| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
Revenue: | |||||||||
Total revenue | |||||||||
328,328 | 324,230 | 301,844 | 295,871 | 276,950 | 197,216 | 126,228 | 100,464 | 73,096 | 25,470 |
Expenses: | |||||||||
Hotel operating expenses: | |||||||||
Total hotel operating expenses | |||||||||
174,251 | 170,562 | 155,679 | 148,777 | 136,994 | 100,961 | 68,596 | 55,030 | 42,167 | 15,025 |
Depreciation and amortization | |||||||||
51,505 | 48,169 | 46,292 | 48,775 | 48,981 | 34,710 | 18,249 | 14,273 | 11,971 | 2,564 |
Impairment loss | |||||||||
0 | 0 | 6,700 | 0 | 0 | - | - | - | - | - |
Property taxes, ground rent and insurance | |||||||||
24,717 | 23,678 | 20,916 | 21,564 | 18,581 | 12,624 | 8,915 | 7,088 | 5,321 | 1,606 |
General and administrative | |||||||||
14,077 | 14,120 | 12,825 | 11,119 | 11,677 | 9,852 | 8,131 | 7,565 | 5,802 | 3,547 |
Other charges | |||||||||
1,441 | 3,806 | 523 | 510 | 1,451 | 10,381 | 3,341 | 236 | 7,706 | 3,189 |
Reimbursable costs from unconsolidated real estate entities | |||||||||
5,670 | 5,743 | 5,908 | 6,190 | 3,743 | 1,992 | 1,635 | 1,622 | 0 | - |
Total operating expenses | |||||||||
271,661 | 266,078 | 248,806 | 236,935 | 221,427 | 170,520 | 108,867 | 85,814 | 72,967 | 25,931 |
Operating (loss) income before gain on sale of hotel property | |||||||||
56,667 | 58,152 | 53,038 | 58,936 | - | - | - | - | - | - |
Loss on early extinguishment of debt | |||||||||
- | - | - | -4 | -412 | -184 | -933 | 0 | 0 | - |
Gain on sale of hotel property | |||||||||
-3,282 | -18 | 3,327 | 0 | 0 | - | - | - | - | - |
Operating (loss) income | |||||||||
53,385 | 58,134 | 56,365 | 58,936 | 55,523 | 26,696 | 17,361 | 14,650 | 129 | -461 |
Interest and other income | |||||||||
190 | 462 | 30 | 51 | 264 | 108 | 132 | 55 | 22 | 193 |
Interest expense, including amortization of deferred fees | |||||||||
28,247 | 26,878 | 27,901 | 28,297 | 27,924 | 21,354 | 11,580 | 14,641 | 8,190 | 932 |
Loss from unconsolidated real estate entities | |||||||||
6,448 | 876 | -1,582 | -718 | -2,411 | 3,830 | 1,874 | 1,439 | 997 | - |
Loss on sale from unconsolidated real estate entities | |||||||||
- | - | - | -10 | 3,576 | 65,750 | 0 | 0 | - | - |
(Loss) income before income tax expense | |||||||||
18,880 | 30,842 | 30,076 | 31,394 | 33,438 | 67,186 | 3,106 | -1,375 | -9,036 | -1,200 |
Income tax expense | |||||||||
0 | -28 | 396 | -301 | 260 | 105 | 124 | 75 | 69 | 17 |
Net (loss) income | |||||||||
18,880 | 30,870 | 29,680 | 31,695 | 33,178 | 67,081 | 2,982 | -1,450 | - | - |
Net (loss) income attributable to noncontrolling interests | |||||||||
177 | 229 | 202 | 212 | 212 | 208 | 0 | 0 | - | - |
Net (loss) income attributable to common shareholders | |||||||||
18,703 | 30,641 | 29,478 | 31,483 | 32,966 | 66,873 | 2,982 | -1,450 | -9,105 | -1,217 |
(Loss) income per Common Share - Basic: | |||||||||
Net income (loss) attributable to common shareholders (Note 11) (in dollars per share) | |||||||||
0.39 | 0.66 | 0.73 | 0.82 | 0.87 | 2.32 | 0.13 | -0.12 | -0.69 | -0.20 |
(Loss) income per Common Share - Diluted: | |||||||||
Net income (loss) attributable to common shareholders (Note 11) (in dollars per share) | |||||||||
0.39 | 0.66 | 0.73 | 0.81 | 0.86 | 2.30 | 0.13 | -0.12 | -0.69 | -0.20 |
Weighted average number of common shares outstanding: | |||||||||
Basic (in shares) | |||||||||
46,788 | 46,073 | 39,859 | 38,299 | 37,917 | 28,531 | 21,035 | 13,811 | 13,280 | 6,377 |
Diluted (in shares) | |||||||||
47,023 | 46,243 | 40,112 | 38,482 | 38,322 | 28,846 | 21,283 | 13,811 | 13,280 | 6,377 |
Distributions per common share (in dollars per share) | |||||||||
1.32 | 1.32 | 1.32 | 1.38 | 1.28 | - | - | - | - | - |
Room | |||||||||
Total revenue | |||||||||
296,267 | 295,897 | 278,466 | 273,345 | 258,137 | 184,926 | 118,169 | 94,566 | 70,421 | 24,743 |
Total hotel operating expenses | |||||||||
65,270 | 63,877 | 59,151 | 57,209 | 50,165 | 37,516 | 25,709 | 20,957 | 16,011 | 5,989 |
Food and beverage | |||||||||
Total revenue | |||||||||
9,824 | 8,880 | 6,255 | 6,221 | 5,536 | 2,764 | 1,311 | 253 | 181 | - |
Total hotel operating expenses | |||||||||
8,396 | 7,312 | 5,342 | 4,928 | 4,127 | 1,966 | 944 | 307 | 197 | - |
Other | |||||||||
Total revenue | |||||||||
16,567 | 13,710 | 11,215 | 10,115 | 9,534 | 7,534 | 5,113 | 4,023 | 2,494 | 727 |
Reimbursable costs from unconsolidated real estate entities | |||||||||
Total revenue | |||||||||
5,670 | 5,743 | 5,908 | 6,190 | 3,743 | 1,992 | 1,635 | 1,622 | 0 | - |
Telephone | |||||||||
Total hotel operating expenses | |||||||||
1,638 | 1,766 | 1,647 | 1,712 | 1,708 | 1,304 | 899 | 718 | 599 | - |
Other hotel operating | |||||||||
Total hotel operating expenses | |||||||||
4,039 | 3,296 | 2,886 | 2,358 | 2,467 | 2,056 | 1,580 | 1,508 | 960 | 9,036 |
General and administrative | |||||||||
Total hotel operating expenses | |||||||||
25,641 | 25,567 | 23,639 | 22,274 | 21,101 | 16,265 | 11,529 | 9,320 | 6,842 | - |
Franchise and marketing fees | |||||||||
Total hotel operating expenses | |||||||||
25,850 | 24,864 | 23,247 | 22,412 | 21,240 | 15,110 | 9,394 | 7,529 | 5,621 | - |
Advertising and promotions | |||||||||
Total hotel operating expenses | |||||||||
6,043 | 6,227 | 5,380 | 5,147 | 5,040 | 3,676 | 2,782 | 2,257 | 2,055 | - |
Utilities | |||||||||
Total hotel operating expenses | |||||||||
10,867 | 10,835 | 9,944 | 9,545 | 9,464 | 7,269 | 4,955 | 4,081 | 3,590 | - |
Repairs and maintenance | |||||||||
Total hotel operating expenses | |||||||||
14,321 | 14,710 | 13,317 | 12,444 | 11,722 | 8,705 | 6,310 | 4,958 | 3,619 | - |
Management fees | |||||||||
Total hotel operating expenses | |||||||||
10,822 | 10,754 | 9,898 | 9,389 | 8,742 | 6,096 | 3,752 | 2,872 | 2,159 | - |
Insurance | |||||||||
Total hotel operating expenses | |||||||||
1,364 | 1,354 | 1,228 | 1,359 | 1,218 | 998 | 742 | 523 | 514 | - |