v2.3.0.11
Combined Consolidated Statements of Operations (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Hotel operating revenue        
Room revenue $ 183,096 $ 119,402 $ 331,971 $ 217,379
Food and beverage revenue 23,046 16,444 43,668 31,050
Other operating department revenue 5,388 3,562 10,181 6,464
Total revenue 211,530 139,408 385,820 254,893
Hotel operating expense        
Room 39,910 25,551 75,152 48,117
Food and beverage 16,498 11,343 31,629 21,629
Management fees 7,177 4,874 13,115 8,995
Other hotel expenses 60,940 40,981 117,110 78,143
Total hotel operating expense 124,525 82,749 237,006 156,884
Depreciation and amortization 31,685 24,252 64,386 47,930
Property tax, insurance and other 12,615 9,467 24,581 19,017
General and administrative 6,208 4,949 11,222 9,906
Transaction and pursuit costs 634 1,536 3,332 1,983
IPO Costs 10,244   10,244  
Total operating expense 185,911 122,953 350,771 235,720
Operating income 25,619 16,455 35,049 19,173
Other income 69 126 224 234
Interest income 358 68 842 161
Interest expense (28,100) (23,362) (54,164) (45,140)
Loss from continuing operations before income taxes (2,054) (6,713) (18,049) (25,572)
Income tax expense (407) (262) (688) (516)
Loss from continuing operations (2,461) (6,975) (18,737) (26,088)
Income from discontinued operations   21,698   22,503
Net (loss) income (2,461) 14,723 (18,737) (3,585)
Net loss (income) attributable to non-controlling interests        
Noncontrolling interest in joint venture (83)   77  
Noncontrolling interest in common units of Operating Partnership 21   21  
Net (loss) income attributable to the Company (2,523) 14,723 (18,639) (3,585)
Distributions to preferred unitholders (45) (16) (61) (32)
Net (loss) income attributable to common shareholders $ (2,568) $ 14,707 $ (18,700) $ (3,617)
Basic and diluted per common share data:        
Loss from continuing operations (in dollars per share) $ (0.03)   $ (0.23)  
Net loss (in dollars per share) $ (0.03)   $ (0.23)  
Basic weighted average common shares outstanding (in shares) 88,767,570   81,228,975  
Diluted weighted average common shares outstanding (in shares) 88,767,570   81,228,975