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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Total revenues $ 309,280 $ 291,247 $ 565,703 $ 534,800
Operating Expenses:        
Depreciation and amortization 27,873 27,840 56,186 55,312
Impairment losses 0 941 0 941
Corporate expenses 28,519 8,284 37,423 16,151
Business interruption insurance income 0 (110) 0 (110)
Total operating expenses, net 268,274 236,646 502,252 454,488
Interest expense 16,202 15,567 32,448 32,739
Interest (income) and other (income) expense, net (1,195) (522) (2,264) (945)
Total other expenses, net 15,007 15,045 30,184 31,794
Income before income taxes 25,999 39,556 33,267 48,518
Income tax expense (1,368) (422) (278) (196)
Net income 24,631 39,134 32,989 48,322
Less: Net income attributable to noncontrolling interests (101) (169) (131) (201)
Net income attributable to the Company 24,530 38,965 32,858 48,121
Distributions to preferred stockholders (2,454) (2,454) (4,908) (4,908)
Net income attributable to common stockholders $ 22,076 $ 36,511 $ 27,950 $ 43,213
Earnings per share:        
Earnings per share available to common stockholders—basic (in dollars per share) $ 0.10 $ 0.17 $ 0.13 $ 0.20
Earnings per share available to common stockholders—diluted (in dollars per share) $ 0.10 $ 0.17 $ 0.13 $ 0.20
Comprehensive Income:        
Net income $ 24,631 $ 39,134 $ 32,989 $ 48,322
Other comprehensive income:        
Unrealized (loss) gain on interest rate derivative instruments (1,354) 3,467 (394) 3,383
Unrealized gain on Rabbi Trust assets 53 210 352 447
Comprehensive income 23,330 42,811 32,947 52,152
Comprehensive income attributable to noncontrolling interests (100) (151) (134) (183)
Comprehensive income attributable to the Company 23,230 42,660 32,813 51,969
Rooms        
Revenues:        
Total revenues 203,487 197,318 366,994 357,991
Operating Expenses:        
Operating expenses 47,585 45,116 91,553 85,319
Food and beverage        
Revenues:        
Total revenues 78,111 68,369 146,492 128,146
Operating Expenses:        
Operating expenses 50,717 45,908 97,956 89,058
Other        
Revenues:        
Total revenues 27,682 25,560 52,217 48,663
Operating Expenses:        
Operating expenses 67,817 65,445 132,417 127,413
Management fees        
Operating Expenses:        
Operating expenses 8,008 6,885 13,318 11,873
Franchise fees        
Operating Expenses:        
Operating expenses 10,567 9,403 19,593 17,480
Other property-level expenses        
Operating Expenses:        
Operating expenses $ 27,188 $ 26,934 $ 53,806 $ 51,051