XML 21 R5.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues:      
Total revenues $ 1,074,867 $ 1,001,503 $ 567,134
Operating expenses:      
Depreciation and amortization 111,302 108,849 102,963
Impairment losses 941 2,843 126,697
Corporate expenses 32,048 31,790 32,552
Business interruption insurance income (647) (499) (705)
Total operating expenses, net 925,404 839,738 723,176
Interest expense 65,072 38,283 37,043
Interest (income) and other (income) expense, net (2,561) 1,404 (947)
Loss on early extinguishment of debt 0 9,766 0
Total other expenses, net 62,511 49,453 36,096
Income (loss) before income taxes 86,952 112,312 (192,138)
Income tax expense (317) (2,607) (3,267)
Net income (loss) 86,635 109,705 (195,405)
Less: Net (income) loss attributable to noncontrolling interests (295) (377) 821
Net income (loss) attributable to the Company 86,340 109,328 (194,584)
Distributions to preferred stockholders (9,817) (9,817) (9,817)
Net income (loss) attributable to common stockholders $ 76,523 $ 99,511 $ (204,401)
Earnings (loss) earnings per share:      
Earnings (loss) per share available to common stockholders—basic (in dollars per share) $ 0.36 $ 0.47 $ (0.96)
Earnings (loss) per share available to common stockholders—diluted (in dollars per share) $ 0.36 $ 0.47 $ (0.96)
Weighted-average number of common shares outstanding:      
Basic (in shares) 211,518,826 212,423,873 212,056,923
Diluted (in shares) 212,304,117 213,188,987 212,056,923
Comprehensive income (loss):      
Net (loss) income $ 86,635 $ 109,705 $ (195,405)
Other comprehensive income (loss):      
Unrealized (loss) on interest rate derivative instruments (2,634) 0 0
Unrealized gain on Rabbi trust assets 591 0 0
Comprehensive income (loss) 84,592 109,705 (195,405)
Comprehensive (income) loss attributable to noncontrolling interests (288) (377) 821
Comprehensive income (loss) attributable to the Company 84,304 109,328 (194,584)
Rooms      
Revenues:      
Total revenues 717,447 681,269 399,055
Operating expenses:      
Operating expenses 176,765 163,062 102,183
Food and beverage      
Revenues:      
Total revenues 259,757 238,234 117,742
Operating expenses:      
Operating expenses 180,546 163,622 89,795
Other      
Revenues:      
Total revenues 97,663 82,000 50,337
Operating expenses:      
Operating expenses 261,536 233,691 158,014
Management fees      
Operating expenses:      
Operating expenses 24,998 23,439 10,208
Franchise fees      
Operating expenses:      
Operating expenses 35,738 32,683 18,665
Other property-level expenses      
Operating expenses:      
Operating expenses $ 102,177 $ 80,258 $ 82,804