XML 13 R4.htm IDEA: XBRL DOCUMENT v3.22.2
Consolidated Statements of Operations and Comprehensive Income - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues        
Total revenues $ 330,501,000 $ 194,254,000 $ 573,400,000 $ 313,806,000
Expenses        
Operating Costs and Expenses     349,558,000 209,584,000
Depreciation and amortization 46,922,000 46,915,000 93,787,000 93,858,000
Impairment losses 0 0 0 5,946,000
Property tax, insurance and other 22,949,000 24,048,000 45,462,000 44,129,000
General and administrative 13,348,000 12,133,000 27,482,000 22,934,000
Transaction costs 136,000 195,000 198,000 255,000
Total operating expenses 273,873,000 204,411,000 516,487,000 376,706,000
Other income (expense), net 721,000 (9,720,000) 8,006,000 (9,255,000)
Interest income 347,000 220,000 519,000 604,000
Interest expense (23,855,000) (26,366,000) (48,416,000) (54,261,000)
(Loss) gain on sale of hotel properties, net (364,000) 103,000 1,053,000 1,186,000
Loss on extinguishment of indebtedness, net 0 (6,207,000) 0 (6,207,000)
Income (loss) before equity in income (loss) from unconsolidated joint ventures 33,477,000 (52,127,000) 18,075,000 (130,833,000)
Equity in income (loss) from unconsolidated joint ventures 283,000 60,000 405,000 (238,000)
Income (loss) before income tax expense 33,760,000 (52,067,000) 18,480,000 (131,071,000)
Income tax expense (558,000) (154,000) (748,000) (268,000)
Net income (loss) 33,202,000 (52,221,000) 17,732,000 (131,339,000)
Net (income) loss attributable to noncontrolling interests:        
Noncontrolling interest in the Operating Partnership (125,000) 268,000 (21,000) 664,000
Noncontrolling interest in consolidated joint ventures (111,000) 506,000 7,000 1,242,000
Net income (loss) attributable to RLJ 32,966,000 (51,447,000) 17,718,000 (129,433,000)
Preferred dividends (6,279,000) (6,279,000) (12,557,000) (12,557,000)
Net income (loss) attributable to common shareholders $ 26,687,000 $ (57,726,000) $ 5,161,000 $ (141,990,000)
Basic per common share data:        
Net income per share attributable to common shareholders - basic (in dollars per share) $ 0.16 $ (0.35) $ 0.03 $ (0.87)
Weighted-average number of common shares - basic (in shares) 163,539,446 163,996,003 163,857,785 163,911,475
Comprehensive income (loss):        
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 33,202,000 $ (52,221,000) $ 17,732,000 $ (131,339,000)
Unrealized gain (loss) on interest rate derivatives 13,380,000 5,375,000 47,573,000 22,095,000
Reclassification of unrealized losses (gains) on discontinued cash flow hedges to other income (expense), net   10,658,000 (5,866,000) 10,658,000
Comprehensive income (loss) 46,582,000 (36,188,000) 59,439,000 (98,586,000)
Noncontrolling interest in consolidated joint ventures (111,000) 506,000 7,000 1,242,000
Noncontrolling interest in the Operating Partnership (125,000) 268,000 (21,000) 664,000
Comprehensive income (loss) attributable to RLJ 46,346,000 (35,414,000) 59,425,000 (96,680,000)
Accumulated Other Comprehensive Income        
Comprehensive income (loss):        
Unrealized gain (loss) on interest rate derivatives 13,380,000 5,375,000 47,573,000 22,095,000
Reclassification of unrealized losses (gains) on discontinued cash flow hedges to other income (expense), net 0 10,658,000 (5,866,000) 10,658,000
Room Revenue        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax 280,676,000 166,554,000 486,455,000 269,326,000
Expenses        
Operating Costs and Expenses 65,793,000 42,898,000 119,621,000 72,325,000
Food and Beverage Revenue        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax 31,154,000 12,983,000 52,055,000 19,225,000
Expenses        
Operating Costs and Expenses 21,770,000 8,709,000 37,939,000 13,265,000
Other Revenue        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax 18,671,000 14,717,000 34,890,000 25,255,000
Expenses        
Operating Costs and Expenses 76,888,000 56,883,000 145,542,000 106,003,000
Management And Franchise Fee Expense        
Expenses        
Operating Costs and Expenses 26,067,000 12,630,000 $ 46,456,000 $ 17,991,000
Hotel [Member]        
Expenses        
Operating Costs and Expenses $ 190,518,000 $ 121,120,000