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Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2015
Business Combinations [Abstract]  
Schedule of Acquired Assets and Liabilities
The following table summarizes the preliminary estimated fair value of the assets acquired and liabilities assumed in our acquisitions (in thousands):
 
 
Shorebreak Hotel
 
Sheraton Suites Key West
Land
 
$
19,908

 
$
49,592

Building and improvements
 
37,525

 
43,030

Furnitures, fixtures and equipment
 
1,338

 
1,378

Total fixed assets
 
58,771

 
94,000

Unfavorable lease liability
 
(349
)
 
—

Other assets and liabilities, net
 
401

 
428

Total
 
$
58,823

 
$
94,428
Pro Forma Operating Information
The following pro forma financial information presents our results of operations (in thousands, except per share data) as if the hotels acquired in 2015 and 2014 were acquired on January 1, 2014 and January 1, 2013, respectively. The pro forma financial information does not include the Hilton Garden Inn Times Square Central, since the hotel opened on September 1, 2014. The pro forma information is not necessarily indicative of the results that actually would have occurred nor does it indicate future operating results.
 
Three Months Ended June 30,
 
Six Months Ending June 30,
 
2015
 
2014
 
2015
 
2014
Revenues
$
254,304

 
$
250,858

 
$
470,247

 
$
466,686

Net income
$
26,073

 
$
53,382

 
39,017

 
66,834

Earnings per share:
 
 
 
 
 
 
 
Basic earnings per share
$
0.13

 
$
0.27

 
$
0.19

 
$
0.34

Diluted earnings per share
$
0.13

 
$
0.27

 
$
0.19

 
$
0.34