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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Total revenues $ 345,744 $ 334,406 $ 1,039,451 $ 1,005,869
Expenses        
Operating Costs and Expenses 223,595 213,539 661,898 626,387
Depreciation and amortization 44,892 44,727 134,045 134,648
Property tax, insurance and other 24,156 26,936 80,743 76,268
General and administrative 12,781 14,747 41,826 43,030
Transaction costs 209 2 299 26
Total operating expenses 305,633 299,951 918,811 880,359
Other income, net 791 1,921 4,669 3,506
Interest income 4,286 5,302 13,191 13,977
Interest expense (28,643) (24,833) (83,150) (73,506)
Gain (loss) on sale of hotel properties, net 4,755 16 8,301 (28)
Loss on extinguishment of indebtedness, net (129) 0 (129) (169)
Income before equity in (loss) income from unconsolidated joint ventures 21,171 16,861 63,522 69,290
Equity in (loss) income from unconsolidated joint ventures (149) (186) 239 315
Income before income tax expense 21,022 16,675 63,761 69,605
Income tax expense (379) (332) (1,081) (1,028)
Net income 20,643 16,343 62,680 68,577
Net (income) loss attributable to noncontrolling interests:        
Noncontrolling interest in the Operating Partnership (49) (50) (216) (238)
Noncontrolling interest in consolidated joint ventures 8 137 181 131
Net income attributable to RLJ 20,602 16,430 62,645 68,470
Preferred dividends (6,279) (6,279) (18,836) (18,836)
Net income attributable to common shareholders $ 14,323 $ 10,151 $ 43,809 $ 49,634
Basic per common share data:        
Net income per share attributable to common shareholders - basic $ 0.09 $ 0.06 $ 0.28 $ 0.31
Weighted-average number of common shares - basic (in shares) 153,070,639 154,563,284 153,226,734 156,805,643
Diluted per common share data:        
Net income per share attributable to common shareholders - diluted $ 0.09 $ 0.06 $ 0.28 $ 0.31
Weighted-average number of common shares - diluted (in shares) 153,240,169 155,081,645 153,830,754 157,280,206
Comprehensive income:        
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 20,643 $ 16,343 $ 62,680 $ 68,577
Unrealized gain (loss) on interest rate derivatives (13,336) (2,180) (13,827) (1,038)
Comprehensive income 7,307 14,163 48,853 67,539
Noncontrolling interest in the Operating Partnership (49) (50) (216) (238)
Noncontrolling interest in consolidated joint ventures 8 137 181 131
Comprehensive income attributable to RLJ 7,266 14,250 48,818 67,432
Accumulated Other Comprehensive Income        
Comprehensive income:        
Unrealized gain (loss) on interest rate derivatives (13,336) (2,180) (13,827) (1,038)
Room Revenue        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax 283,614 277,088 853,896 833,416
Expenses        
Operating Costs and Expenses 74,558 71,278 217,885 207,662
Food and Beverage Revenue        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax 36,983 34,181 113,515 105,601
Expenses        
Operating Costs and Expenses 29,348 27,430 88,279 81,604
Other Revenue        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax 25,147 23,137 72,040 66,852
Expenses        
Operating Costs and Expenses 92,350 87,736 272,951 254,567
Management And Franchise Fee Expense        
Expenses        
Operating Costs and Expenses $ 27,339 $ 27,095 $ 82,783 $ 82,554