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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues        
Total revenues $ 356,960 $ 330,501 $ 671,463 $ 573,400
Expenses        
Operating Costs and Expenses 211,854 190,518 412,848 349,558
Depreciation and amortization 44,925 46,922 89,921 93,787
Property tax, insurance and other 24,684 22,949 49,332 45,462
General and administrative 14,627 13,348 28,283 27,482
Transaction costs 4 136 24 198
Total operating expenses 296,094 273,873 580,408 516,487
Other income, net 736 721 1,585 8,006
Interest income 5,011 347 8,675 519
Interest expense (24,543) (23,855) (48,673) (48,416)
(Loss) gain on sale of hotel properties, net (44) (364) (44) 1,053
Loss on extinguishment of indebtedness, net (169) 0 (169) 0
Income before equity in income from unconsolidated joint ventures 41,857 33,477 52,429 18,075
Equity in income from unconsolidated joint ventures 220 283 501 405
Income before income tax expense 42,077 33,760 52,930 18,480
Income tax expense (357) (558) (696) (748)
Net income 41,720 33,202 52,234 17,732
Net (income) loss attributable to noncontrolling interests:        
Noncontrolling interest in the Operating Partnership (171) (125) (188) (21)
Noncontrolling interest in consolidated joint ventures (154) (111) (6) 7
Net income attributable to RLJ 41,395 32,966 52,040 17,718
Preferred dividends (6,279) (6,279) (12,557) (12,557)
Net income attributable to common shareholders $ 35,116 $ 26,687 $ 39,483 $ 5,161
Basic per common share data:        
Net income per share attributable to common shareholders - basic (in dollars per share) $ 0.22 $ 0.16 $ 0.25 $ 0.03
Weighted-average number of common shares - basic (in shares) 156,424,444 163,539,446 157,945,406 163,857,785
Diluted per common share data:        
Net income per share attributable to common shareholders - diluted (in dollars per share) $ 0.22 $ 0.16 $ 0.25 $ 0.03
Weighted-average number of common shares - diluted (in shares) 156,741,187 163,784,573 158,381,380 164,217,150
Comprehensive income:        
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 41,720 $ 33,202 $ 52,234 $ 17,732
Unrealized gain (loss) on interest rate derivatives 7,558 13,380 1,142 47,573
Reclassification of unrealized gains on discontinued cash flow hedges to other income, net   0 0 (5,866)
Comprehensive income 49,278 46,582 53,376 59,439
Noncontrolling interest in the Operating Partnership (171) (125) (188) (21)
Noncontrolling interest in consolidated joint ventures (154) (111) (6) 7
Comprehensive income attributable to RLJ 48,953 46,346 53,182 59,425
Room Revenue        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax 295,496 280,676 556,328 486,455
Expenses        
Operating Costs and Expenses 70,333 65,793 136,384 119,621
Food and Beverage Revenue        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax 38,132 31,154 71,420 52,055
Expenses        
Operating Costs and Expenses 28,037 21,770 54,174 37,939
Other Revenue        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax 23,332 18,671 43,715 34,890
Expenses        
Operating Costs and Expenses 84,207 76,888 166,831 145,542
Management And Franchise Fee Expense        
Expenses        
Operating Costs and Expenses $ 29,277 $ 26,067 $ 55,459 $ 46,456