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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Total revenues $ 285,129 $ 276,520 $ 850,832 $ 811,320
Operating Expenses:        
Depreciation and amortization 28,356 27,683 84,542 82,995
Impairment losses 1,596 0 1,596 941
Corporate expenses 7,660 7,526 45,083 23,677
Business interruption insurance income 0 (537) 0 (647)
Total operating expenses, net 242,169 233,765 744,421 688,253
Interest expense 16,986 15,973 49,434 48,712
Interest (income) and other (income) expense, net (1,001) (772) (3,265) (1,717)
Total other expenses, net 15,985 15,201 46,169 46,995
Income before income taxes 26,975 27,554 60,242 76,072
Income tax expense (418) (224) (696) (420)
Net income 26,557 27,330 59,546 75,652
Less: Net income attributable to noncontrolling interests (125) (58) (256) (259)
Net income attributable to the Company 26,432 27,272 59,290 75,393
Distributions to preferred stockholders (2,454) (2,454) (7,362) (7,362)
Net income attributable to common stockholders $ 23,978 $ 24,818 $ 51,928 $ 68,031
Earnings per share:        
Earnings per share available to common stockholders—basic (in dollars per share) $ 0.11 $ 0.12 $ 0.25 $ 0.32
Earnings per share available to common stockholders—diluted (in dollars per share) $ 0.11 $ 0.12 $ 0.25 $ 0.32
Comprehensive Income:        
Net income $ 26,557 $ 27,330 $ 59,546 $ 75,652
Other comprehensive income:        
Unrealized (loss) gain on interest rate derivative instruments (4,237) 150 (4,631) 3,533
Unrealized gain (loss) on Rabbi Trust assets 298 (178) 650 269
Comprehensive income 22,618 27,302 55,565 79,454
Comprehensive income attributable to noncontrolling interests (106) (89) (240) (272)
Comprehensive income attributable to the Company 22,512 27,213 55,325 79,182
Rooms        
Revenues:        
Total revenues 192,471 186,334 559,465 544,325
Operating Expenses:        
Operating expenses 47,919 45,773 139,472 131,092
Food and beverage        
Revenues:        
Total revenues 65,787 64,723 212,279 192,869
Operating Expenses:        
Operating expenses 47,319 45,428 145,275 134,486
Other        
Revenues:        
Total revenues 26,871 25,463 79,088 74,126
Operating Expenses:        
Operating expenses 67,357 65,952 199,774 193,365
Management fees        
Operating Expenses:        
Operating expenses 7,093 7,323 20,411 19,196
Franchise fees        
Operating Expenses:        
Operating expenses 10,117 8,913 29,710 26,393
Other property-level expenses        
Operating Expenses:        
Operating expenses $ 24,752 $ 25,704 $ 78,558 $ 76,755