XML 13 R4.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Total revenues $ 334,406 $ 318,071 $ 1,005,869 $ 891,471
Expenses        
Operating Costs and Expenses 213,539 199,180 626,387 548,738
Depreciation and amortization 44,727 46,559 134,648 140,346
Property tax, insurance and other 26,936 20,744 76,268 66,206
General and administrative 14,747 13,446 43,030 40,928
Transaction costs 2 (773) 26 (575)
Total operating expenses 299,951 279,156 880,359 795,643
Other income, net 1,921 710 3,506 8,716
Interest income 5,302 1,281 13,977 1,800
Interest expense (24,833) (22,625) (73,506) (71,041)
Gain (loss) on sale of hotel properties, net 16 (57) (28) 996
Loss on extinguishment of indebtedness, net 0 0 (169) 0
Income before equity in (loss) income from unconsolidated joint ventures 16,861 18,224 69,290 36,299
Equity in (loss) income from unconsolidated joint ventures (186) (150) 315 255
Income before income tax expense 16,675 18,074 69,605 36,554
Income tax expense (332) (391) (1,028) (1,139)
Net income 16,343 17,683 68,577 35,415
Net (income) loss attributable to noncontrolling interests:        
Noncontrolling interest in the Operating Partnership (50) (53) (238) (74)
Noncontrolling interest in consolidated joint ventures 137 (36) 131 (29)
Net income attributable to RLJ 16,430 17,594 68,470 35,312
Preferred dividends (6,279) (6,279) (18,836) (18,836)
Net income attributable to common shareholders $ 10,151 $ 11,315 $ 49,634 $ 16,476
Basic per common share data:        
Net income per share attributable to common shareholders - basic (in dollars per share) $ 0.06 $ 0.07 $ 0.31 $ 0.10
Weighted-average number of common shares - basic (in shares) 154,563,284 160,368,297 156,805,643 162,681,840
Diluted per common share data:        
Net income per share attributable to common shareholders - diluted (in dollars per share) $ 0.06 $ 0.07 $ 0.31 $ 0.10
Weighted-average number of common shares - diluted (in shares) 155,081,645 160,784,709 157,280,206 163,064,462
Comprehensive income:        
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 16,343 $ 17,683 $ 68,577 $ 35,415
Unrealized gain (loss) on interest rate derivatives (2,180) 17,211 (1,038) 64,784
Reclassification of unrealized gains on discontinued cash flow hedges to other income, net   0 0 (5,866)
Comprehensive income 14,163 34,894 67,539 94,333
Noncontrolling interest in the Operating Partnership (50) (53) (238) (74)
Noncontrolling interest in consolidated joint ventures 137 (36) 131 (29)
Comprehensive income attributable to RLJ 14,250 34,805 67,432 94,230
Accumulated Other Comprehensive Income        
Comprehensive income:        
Unrealized gain (loss) on interest rate derivatives (2,180) 17,211 (1,038) 64,784
Reclassification of unrealized gains on discontinued cash flow hedges to other income, net 0     (5,866)
Room Revenue        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax 277,088 267,363 833,416 753,818
Expenses        
Operating Costs and Expenses 71,278 68,394 207,662 188,015
Food and Beverage Revenue        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax 34,181 30,600 105,601 82,655
Expenses        
Operating Costs and Expenses 27,430 23,375 81,604 61,314
Other Revenue        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax 23,137 20,108 66,852 54,998
Expenses        
Operating Costs and Expenses 87,736 82,021 254,567 227,563
Management And Franchise Fee Expense        
Expenses        
Operating Costs and Expenses $ 27,095 $ 25,390 $ 82,554 $ 71,846