XML 20 R5.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues      
Total revenues $ 1,325,577 $ 1,193,662 $ 785,664
Expenses      
Total property operating expenses 834,667 744,408 511,523
Depreciation and amortization 179,103 184,875 187,778
Impairment losses 0 0 144,845
Property tax, insurance and other 100,229 86,996 88,852
General and administrative 58,998 56,330 47,526
Transaction costs 223 (345) 94
Total operating expenses 1,173,220 1,072,264 980,618
Other income (expense), net 4,364 9,496 (7,614)
Interest income 19,743 4,559 996
Interest expense (98,807) (93,155) (106,366)
(Loss) gain on sale of hotel properties, net (34) 1,017 (2,378)
(Loss) gain on extinguishment of indebtedness, net (169) (39) 893
Income (loss) before equity in income (loss) from unconsolidated joint ventures 77,454 43,276 (309,423)
Equity in income (loss) from unconsolidated joint ventures 419 457 (477)
Income (loss) before income tax expense 77,873 43,733 (309,900)
Income tax expense (1,256) (1,518) (1,188)
Net income (loss) 76,617 42,215 (311,088)
Net loss (income) attributable to noncontrolling interests:      
Noncontrolling interest in consolidated joint ventures 35 (210) 4,384
Noncontrolling interest in the Operating Partnership (247) (80) 1,536
Net income (loss) attributable to RLJ 76,405 41,925 (305,168)
Preferred dividends (25,115) (25,115) (25,115)
Net income (loss) attributable to common shareholders $ 51,290 $ 16,810 $ (330,283)
Basic per common share data:      
Net income per share attributable to common shareholders - basic (in dollars per share) $ 0.32 $ 0.10 $ (2.01)
Weighted-average number of common shares (in shares) 155,928,663 161,947,807 163,998,390
Diluted per common share data:      
Net income per share attributable to common shareholders - diluted (in dollars per share) $ 0.32 $ 0.10 $ (2.01)
Weighted-average number of common shares (in shares) 156,556,414 162,292,865 163,998,390
Comprehensive income (loss):      
Net income $ 76,617 $ 42,215 $ (311,088)
Unrealized (loss) gain on interest rate derivatives (17,929) 63,570 41,279
Reclassification of unrealized (gains) losses on discontinued cash flow hedges to other income (expense), net 0 (5,866) 10,658
Comprehensive income (loss) 58,688 99,919 (259,151)
Noncontrolling interest in consolidated joint ventures 35 (210) 4,384
Noncontrolling interest in the Operating Partnership (247) (80) 1,536
Comprehensive income (loss) attributable to RLJ 58,476 99,629 (253,231)
Room revenue      
Revenues      
Revenue 1,095,028 1,002,454 667,853
Expenses      
Total property operating expenses 277,058 253,441 177,365
Food and beverage revenue      
Revenues      
Revenue 141,625 117,027 58,994
Expenses      
Total property operating expenses 109,707 87,402 41,790
Management and franchise fee expense      
Expenses      
Total property operating expenses 107,417 95,565 53,276
Other revenue      
Revenues      
Revenue 88,924 74,181 58,817
Expenses      
Total property operating expenses $ 340,485 $ 308,000 $ 239,092