| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|---|---|---|---|---|---|
Revenues: | ||||||
Revenues | ||||||
1,149,087 | 1,058,207 | 945,277 | 950,160 | 976,144 | 926,666 | 651,871 |
Expenses: | ||||||
Total hotel operating expenses | ||||||
772,857 | 689,762 | 603,700 | 592,981 | 610,656 | 593,303 | 426,633 |
Depreciation and amortization | ||||||
155,128 | 157,838 | 152,977 | 152,418 | 148,009 | 141,807 | 104,229 |
Ground lease expense | ||||||
4,403 | 4,900 | 5,800 | 5,447 | 5,204 | 5,541 | 1,923 |
Real estate taxes, personal property taxes and insurance | ||||||
50,184 | 47,721 | 44,310 | 46,248 | 49,717 | 44,625 | 29,763 |
General and administrative expenses | ||||||
30,732 | 30,460 | 31,552 | 31,374 | 25,142 | 38,895 | 13,445 |
Gain on business interruption insurance | ||||||
823 | 5,043 | 600 | 0 | - | - | - |
Acquisition, terminated transaction and pre-opening expenses | ||||||
954 | 763 | 1,578 | - | - | - | - |
Business management fees | ||||||
- | - | - | - | - | 1,474 | 12,743 |
Acquisition and terminated transaction costs | ||||||
- | - | - | 154 | 5,046 | 1,192 | 2,275 |
Pre-opening and hotel rebranding expenses | ||||||
- | - | - | 0 | 1,411 | 0 | 0 |
Impairment and other losses | ||||||
24,171 | 0 | 2,254 | 10,035 | 0 | 5,378 | 49,145 |
Separation and other start-up related expenses | ||||||
- | - | - | - | 26,887 | 0 | 0 |
Total expenses | ||||||
1,037,606 | 926,383 | 841,660 | 838,657 | 872,072 | 832,215 | 640,156 |
Operating (loss) income | ||||||
111,481 | 131,824 | 103,617 | 111,503 | 104,072 | 94,451 | 11,715 |
(Loss) gain on sale of investment properties | ||||||
-947 | 123,540 | 50,747 | 30,195 | 43,015 | 693 | 0 |
Other income | ||||||
895 | 1,162 | 853 | 3,377 | 4,916 | 324 | -1,113 |
Interest expense | ||||||
48,605 | 51,402 | 46,294 | 48,113 | 50,816 | 57,427 | 52,792 |
Loss on extinguishment of debt | ||||||
-214 | -599 | -274 | -5,155 | -5,761 | -1,713 | 0 |
Equity in losses and gain on consolidation of unconsolidated entity, net | ||||||
- | - | - | - | - | 4,216 | -33 |
Net (loss) income before income taxes | ||||||
62,610 | 204,525 | 108,649 | 91,807 | 95,426 | 40,544 | -42,223 |
Income tax benefit (expense) | ||||||
5,367 | 5,993 | 7,833 | 5,077 | 6,295 | 5,865 | 3,619 |
Net income from continuing operations | ||||||
- | - | - | - | 89,131 | 34,679 | -45,842 |
Net loss from discontinued operations | ||||||
- | - | - | - | -489 | 75,120 | -5,626 |
Net (loss) income | ||||||
57,243 | 198,532 | 100,816 | 86,730 | 88,642 | 109,799 | -51,468 |
Non-controlling interests in consolidated real estate entities | ||||||
- | - | - | -268 | -567 | 0 | - |
Non-controlling interests of Common Units in Operating Partnership | ||||||
- | - | - | 1,143 | 451 | 0 | - |
Net loss (income) attributable to non-controlling interests (Note 1) | ||||||
1,843 | 4,844 | 1,954 | 875 | -116 | 0 | 0 |
Net Income (Loss) Attributable to Parent | ||||||
55,400 | 193,688 | 98,862 | - | 88,758 | 109,799 | -51,468 |
Distributions to preferred stockholders | ||||||
- | - | - | - | 12 | 0 | 0 |
Net (loss) income attributable to common stockholders | ||||||
- | - | - | 85,855 | 88,746 | 109,799 | -51,468 |
Basic and diluted earnings per share | ||||||
Income from continuing operations available to common stockholders (in dollars per share) | ||||||
- | - | - | - | 0.79 | 0.31 | -0.40 |
Income from discontinued operations available to common stockholders (in dollars per share) | ||||||
- | - | - | - | 0.00 | 0.66 | -0.05 |
Net income per share available to common stockholders - basic and diluted (in dollars per share) | ||||||
0.49 | 1.75 | 0.92 | 0.79 | 0.79 | 0.97 | -0.45 |
Weighted average number of common shares, basic (in shares) | ||||||
112,636 | 110,124 | 106,767 | 108,012 | 111,989 | 113,397 | 113,397 |
Diluted earnings per share | ||||||
Weighted average number of common shares, diluted (in shares) | ||||||
112,918 | 110,377 | 107,019 | 108,142 | 112,138 | 113,397 | 113,397 |
Comprehensive (Loss) Income: | ||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ||||||
57,243 | 198,532 | 100,816 | - | - | - | - |
Other comprehensive (loss) income: | ||||||
Unrealized loss on interest rate derivative instruments | ||||||
-14,401 | 4,944 | 3,388 | -322 | 1,543 | 0 | 0 |
Reclassification adjustment for amounts recognized in net (loss) income (interest expense) | ||||||
3,510 | 2,826 | -2,396 | -3,833 | 0 | 0 | - |
Comprehensive income including portion attributable to noncontrolling interest | ||||||
39,332 | 200,650 | 106,600 | 90,241 | 90,185 | 109,799 | -51,468 |
Comprehensive (income) loss attributable to non-controlling interests: | ||||||
Non-controlling interests in consolidated real estate entities | ||||||
- | - | - | -268 | -567 | 0 | - |
Non-controlling interests of Common Units in Operating Partnership | ||||||
- | - | - | 1,188 | 451 | 0 | - |
Comprehensive loss (income) attributable to non-controlling interests (Note 1) | ||||||
1,270 | 4,897 | 2,070 | 920 | -116 | 0 | 0 |
Comprehensive (loss) income attributable to the Company | ||||||
38,100 | 195,800 | 104,500 | 89,321 | 90,301 | 109,799 | -51,468 |
Rooms | ||||||
Revenues | ||||||
686,485 | 659,697 | 623,331 | 653,944 | 663,224 | 631,901 | 443,267 |
Expenses | ||||||
162,853 | 154,716 | 142,561 | 146,050 | 148,492 | 140,128 | 96,444 |
Food and Beverage | ||||||
Revenues | ||||||
382,031 | 335,723 | 266,977 | 246,479 | 259,036 | 235,066 | 168,368 |
Expenses | ||||||
247,487 | 214,935 | 173,285 | 161,699 | 167,840 | 158,243 | 114,011 |
Other | ||||||
Revenues | ||||||
80,571 | 62,787 | 54,969 | 49,737 | 53,884 | 59,699 | 40,236 |
Management and Franchise | ||||||
Expenses | ||||||
46,500 | 45,600 | 43,500 | 47,605 | 49,818 | 52,104 | 37,683 |
Hotel, Other Direct | ||||||
Other direct expenses | ||||||
30,076 | 19,677 | 14,438 | 12,848 | 17,984 | 28,556 | 21,110 |
Hotel, Other Indirect | ||||||
Other direct expenses | ||||||
285,920 | 254,881 | 229,957 | 224,779 | 226,522 | 214,272 | 157,385 |