XML 50 R35.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Acquisitions (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2015
Business Combinations [Abstract] |
Schedule of Acquired Assets and Liabilities | The following table summarizes the estimated fair values of the assets acquired and liabilities assumed in our acquisitions (in thousands):
|  | Shorebreak Hotel |  | Sheraton Suites Key West |  | Inn at Key West |  | Hilton Garden Inn Times Square Central |  | Westin Fort Lauderdale Beach Resort
Land |  | $ | 19,908 |  |  | $ | 49,592 |  |  | $ | 32,888 |  |  | $ | 60,300 |  |  | $ | 54,293 |
Building and improvements |  | 37,525 |  |  | 42,958 |  |  | 13,371 |  |  | 88,896 |  |  | 83,227 |
Furnitures, fixtures and equipment |  | 1,338 |  |  | 1,378 |  |  | 1,241 |  |  | 6,204 |  |  | 11,480 |
Total fixed assets |  | 58,771 |  |  | 93,928 |  |  | 47,500 |  |  | 155,400 |  |  | 149,000 |
Unfavorable lease liability |  | (349 | ) |  | — |  |  | — |  |  | — |  |  | — |
Other assets and liabilities, net |  | 401 |  |  | 500 |  |  | 326 |  |  | 370 |  |  | 12 |
Total |  | $ | 58,823 |  |  | $ | 94,428 |  |  | $ | 47,826 |  |  | $ | 155,770 |  |  | $ | 149,012 |
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 pro forma adjustments for the Hilton Garden Inn Times Square Central because 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.
| Year Ended December 31,
| 2015 |  | 2014
| (unaudited)
Revenues | $ | 942,547 |  |  | $ | 949,110 |
Net income | $ | 89,184 |  |  | $ | 175,638 |
Earnings per share: |  |  |
Basic earnings per share | $ | 0.44 |  |  | $ | 0.90 |
Diluted earnings per share | $ | 0.44 |  |  | $ | 0.89 |

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4845-128472 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration