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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Total revenues $ 276,520 $ 268,208 $ 811,320 $ 746,448
Operating Expenses:        
Depreciation and amortization 27,683 27,053 82,995 81,097
Impairment losses 0 0 941 2,843
Corporate expenses 7,526 7,516 23,677 22,275
Business interruption insurance income (537) 0 (647) (499)
Total operating expenses, net 233,765 220,419 688,253 620,575
Interest expense 15,973 9,072 48,712 22,866
Interest (income) and other (income) expense, net (772) 152 (1,717) 1,044
Loss on early extinguishment of debt 0 9,698 0 9,698
Total other expenses, net 15,201 18,922 46,995 33,608
Income before income taxes 27,554 28,867 76,072 92,265
Income tax expense (224) (312) (420) (949)
Net income 27,330 28,555 75,652 91,316
Less: Net income attributable to noncontrolling interests (58) (99) (259) (315)
Net income attributable to the Company 27,272 28,456 75,393 91,001
Distributions to preferred stockholders (2,454) (2,454) (7,362) (7,362)
Net income attributable to common stockholders $ 24,818 $ 26,002 $ 68,031 $ 83,639
Earnings per share:        
Earnings per share available to common stockholders—basic (in dollars per share) $ 0.12 $ 0.12 $ 0.32 $ 0.39
Earnings per share available to common stockholders—diluted (in dollars per share) $ 0.12 $ 0.12 $ 0.32 $ 0.39
Comprehensive Income:        
Net income $ 27,330 $ 28,555 $ 75,652 $ 91,316
Other comprehensive income:        
Unrealized gain on interest rate derivative instruments 150 0 3,533 0
Unrealized (loss) gain on Rabbi Trust assets (178) 0 269 0
Comprehensive income 27,302 28,555 79,454 91,316
Comprehensive income attributable to noncontrolling interests (89) (99) (272) (315)
Comprehensive income attributable to the Company 27,213 28,456 79,182 91,001
Rooms        
Revenues:        
Total revenues 186,334 184,994 544,325 510,189
Operating Expenses:        
Operating expenses 45,773 43,899 131,092 120,374
Food and beverage        
Revenues:        
Total revenues 64,723 61,940 192,869 176,294
Operating Expenses:        
Operating expenses 45,428 43,227 134,486 119,919
Other        
Revenues:        
Total revenues 25,463 21,274 74,126 59,965
Operating Expenses:        
Operating expenses 65,952 62,271 193,365 170,328
Management fees        
Operating Expenses:        
Operating expenses 7,323 6,697 19,196 17,029
Franchise fees        
Operating Expenses:        
Operating expenses 8,913 8,709 26,393 23,212
Other property-level expenses        
Operating Expenses:        
Operating expenses $ 25,704 $ 21,047 $ 76,755 $ 63,997