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Consolidated Statements of Operations and Comprehensive Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Operating revenue        
Room revenue $ 261,895 $ 221,318 $ 727,367 $ 635,157
Food and beverage revenue 27,076 22,907 77,924 71,206
Other operating department revenue 8,695 7,891 23,795 21,446
Total revenue 297,666 252,116 829,086 727,809
Operating expense        
Room expense 57,012 49,388 158,669 139,550
Food and beverage expense 19,397 16,629 55,016 50,406
Management fee expense 11,569 8,773 32,639 25,524
Other operating expense 83,273 74,482 234,281 213,919
Total property operating expense 171,251 149,272 480,605 429,399
Depreciation and amortization 37,243 31,551 105,541 94,748
Impairment of Real Estate 9,200 0 9,200 0
Property tax, insurance and other 17,874 16,628 53,064 47,873
General and administrative 11,029 8,961 31,293 26,839
Transaction and pursuit costs 480 478 4,375 2,822
Total operating expense 247,077 206,890 684,078 601,681
Operating income 50,589 45,226 145,008 126,128
Other income 48 164 563 334
Interest income 337 241 1,622 777
Interest expense (13,858) (16,511) (42,646) (50,170)
Gain on Acquisition of Investment in Real Estate   4,831   4,831
Income from continuing operations before income tax expense 37,116 33,951 104,547 81,900
Income tax expense (374) (181) (1,162) (752)
Income from continuing operations 36,742 33,770 103,385 81,148
Income from discontinued operations 0 3,158 0 5,349
Gain (loss) on disposal of hotel properties 322 0 (975) 0
Net income 37,064 36,928 102,410 86,497
Net income attributable to non-controlling interests        
Noncontrolling interest in consolidated joint venture (57) (166) (102) (321)
Noncontrolling interest in common units of Operating Partnership (247) (293) (712) (700)
Net income attributable to common shareholders 36,760 36,469 101,596 85,476
Basic per common share data        
Income from continuing operations attributable to common shareholders, including loss on disposal of hotel properties $ 0.28 $ 0.27 $ 0.80 $ 0.68
Discontinued operations (in dollars per share) $ 0.00 $ 0.03 $ 0.00 $ 0.05
Net income per share attributable to common shareholders (in dollars per share) $ 0.28 $ 0.30 $ 0.80 $ 0.73
Weighted-average number of common shares (in shares) 131,106,440 121,594,219 126,070,309 116,697,417
Diluted per common share data        
Net income per share attributable to common shareholders before discontinued operations (in dollars per share) $ 0.28 $ 0.27 $ 0.79 $ 0.67
Discontinued operations (in dollars per share) $ 0.00 $ 0.03 $ 0.00 $ 0.05
Net income per share attributable to common shareholders (in dollars per share) $ 0.28 $ 0.30 $ 0.79 $ 0.72
Weighted-average number of common shares (in shares) 132,386,843 122,750,121 127,297,901 117,797,670
Amounts attributable to the Company’s common shareholders        
Income from continuing operations 36,440 33,334 102,564 80,166
Income from discontinued operations 0 3,135 0 5,310
Gain (loss) on disposal of hotel properties 320 0 (968) 0
Net income attributable to common shareholders 36,760 36,469 101,596 85,476
Comprehensive income        
Unrealized gain (loss) on interest rate derivatives 5,567 (3,155) (1,346) (11,429)
Comprehensive income 42,631 33,773 101,064 75,068
Comprehensive income attributable to consolidated joint venture (57) (166) (102) (321)
Comprehensive income attributable to common units of Operating Partnership (247) (293) (712) (700)
Comprehensive income attributable to the Company     $ 100,250 $ 74,047