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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