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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues        
Total revenues $ 369,297 $ 356,960 $ 693,707 $ 671,463
Expenses        
Operating Costs and Expenses 224,826 211,854 438,303 412,848
Depreciation and amortization 44,474 44,925 89,153 89,921
Property tax, insurance and other 28,753 24,684 56,587 49,332
General and administrative 13,940 14,627 29,045 28,283
Transaction costs 76 4 90 24
Total operating expenses 312,069 296,094 613,178 580,408
Other income, net 687 736 3,878 1,585
Interest income 4,118 5,011 8,905 8,675
Interest expense (28,049) (24,543) (54,507) (48,673)
Gain (loss) on sale of hotel properties, net 3,546 (44) 3,546 (44)
Loss on extinguishment of indebtedness, net 0 (169) 0 (169)
Income before equity in income from unconsolidated joint ventures 37,530 41,857 42,351 52,429
Equity in income from unconsolidated joint ventures 154 220 388 501
Income before income tax expense 37,684 42,077 42,739 52,930
Income tax expense (393) (357) (702) (696)
Net income 37,291 41,720 42,037 52,234
Net (income) loss attributable to noncontrolling interests:        
Noncontrolling interest in the Operating Partnership (169) (171) (167) (188)
Noncontrolling interest in consolidated joint ventures (16) (154) 173 (6)
Net income attributable to RLJ 37,106 41,395 42,043 52,040
Preferred dividends (6,279) (6,279) (12,557) (12,557)
Net income attributable to common shareholders $ 30,827 $ 35,116 $ 29,486 $ 39,483
Basic per common share data:        
Net income per share attributable to common shareholders - basic $ 0.20 $ 0.22 $ 0.19 $ 0.25
Weighted-average number of common shares - basic (in shares) 153,641,065 156,424,444 153,305,640 157,945,406
Diluted per common share data:        
Net income per share attributable to common shareholders - diluted $ 0.20 $ 0.22 $ 0.19 $ 0.25
Weighted-average number of common shares - diluted (in shares) 154,105,871 156,741,187 154,151,135 158,381,380
Comprehensive income:        
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 37,291 $ 41,720 $ 42,037 $ 52,234
Unrealized gain (loss) on interest rate derivatives (2,773) 7,558 (491) 1,142
Comprehensive income 34,518 49,278 41,546 53,376
Noncontrolling interest in the Operating Partnership (169) (171) (167) (188)
Noncontrolling interest in consolidated joint ventures (16) (154) 173 (6)
Comprehensive income attributable to RLJ 34,333 48,953 41,552 53,182
Accumulated Other Comprehensive Income        
Comprehensive income:        
Unrealized gain (loss) on interest rate derivatives (2,773) 7,558 (491) 1,142
Room Revenue        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax 303,652 295,496 570,282 556,328
Expenses        
Operating Costs and Expenses 73,941 70,333 143,327 136,384
Food and Beverage Revenue        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax 40,843 38,132 76,532 71,420
Expenses        
Operating Costs and Expenses 30,304 28,037 58,931 54,174
Other Revenue        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax 24,802 23,332 46,893 43,715
Expenses        
Operating Costs and Expenses 90,792 84,207 180,601 166,831
Management And Franchise Fee Expense        
Expenses        
Operating Costs and Expenses $ 29,789 $ 29,277 $ 55,444 $ 55,459