XML 20 R5.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues      
Total revenues $ 1,193,662 $ 785,664 $ 473,087
Expenses      
Total property operating expenses 744,408 511,523 391,556
Depreciation and amortization 184,875 187,778 194,168
Impairment losses 0 144,845 0
Property tax, insurance and other 86,996 88,852 103,470
General and administrative 56,330 47,526 41,141
Transaction costs (345) 94 (158)
Total operating expenses 1,072,264 980,618 730,177
Other income (expense), net 9,496 (7,614) 1,941
Interest income 4,559 996 4,237
Interest expense (93,155) (106,366) (100,169)
Gain (loss) on sale of hotel properties, net 1,017 (2,378) 2,703
(Loss) gain on extinguishment of indebtedness, net (39) 893 0
Income (loss) before equity in income (loss) from unconsolidated joint ventures 43,276 (309,423) (348,378)
Equity in income (loss) from unconsolidated joint ventures 457 (477) (8,454)
Income (loss) before income tax expense 43,733 (309,900) (356,832)
Income tax expense (1,518) (1,188) (51,970)
Net income (loss) 42,215 (311,088) (408,802)
Net (income) loss attributable to noncontrolling interests:      
Noncontrolling interest in consolidated joint ventures (210) 4,384 2,327
Noncontrolling interest in the Operating Partnership (80) 1,536 2,034
Net income (loss) attributable to RLJ 41,925 (305,168) (404,441)
Preferred dividends (25,115) (25,115) (25,115)
Net income (loss) attributable to common shareholders $ 16,810 $ (330,283) $ (429,556)
Basic per common share data:      
Net income per share attributable to common shareholders - basic (in dollars per share) $ 0.10 $ (2.01) $ (2.61)
Weighted-average number of common shares (in shares) 161,947,807 163,998,390 164,503,661
Diluted per common share data:      
Net income per share attributable to common shareholders - diluted (in dollars per share) $ 0.10 $ (2.01) $ (2.61)
Weighted-average number of common shares (in shares) 162,292,865 163,998,390 164,503,661
Comprehensive income (loss):      
Net income $ 42,215 $ (311,088) $ (408,802)
Unrealized gain (loss) on interest rate derivatives 63,570 41,279 (49,536)
Reclassification of unrealized (gains) losses on discontinued cash flow hedges to other income (expense), net (5,866) 10,658 0
Comprehensive income (loss) 99,919 (259,151) (458,338)
Comprehensive income (loss) attributable to RLJ 99,629 (253,231) (453,977)
Room revenue      
Revenues      
Revenue 1,002,454 667,853 397,754
Expenses      
Total property operating expenses 253,441 177,365 124,063
Food and beverage revenue      
Revenues      
Revenue 117,027 58,994 40,384
Expenses      
Total property operating expenses 87,402 41,790 35,220
Management and franchise fee expense      
Expenses      
Total property operating expenses 95,565 53,276 21,057
Other revenue      
Revenues      
Revenue 74,181 58,817 34,949
Expenses      
Total property operating expenses $ 308,000 $ 239,092 $ 211,216