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Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2015
Segment Information |
Schedule of segment information |
|  | For the Three Months Ended September 30, 2015 |
|  | Hotels |  | Travel Centers |  | Corporate |  | Consolidated |
Hotel operating revenues |  | $ | 437,171 |  | $ | - |  | $ | - |  | $ | 437,171 |
Rental income |  |  | 8,199 |  |  | 65,548 |  |  | - |  |  | 73,747 |
FF&E reserve income |  |  | 968 |  |  | - |  |  | - |  |  | 968 |
Total revenues |  |  | 446,338 |  |  | 65,548 |  |  | - |  |  | 511,886 |
Hotel operating expenses |  |  | 308,603 |  |  | - |  |  | - |  |  | 308,603 |
Depreciation and amortization |  |  | 54,100 |  |  | 30,161 |  |  | - |  |  | 84,261 |
General and administrative |  |  | - |  |  | - |  |  | 19,831 |  |  | 19,831 |
Acquisition related costs |  |  | 851 |  |  | - |  |  | - |  |  | 851 |
Total expenses |  |  | 363,554 |  |  | 30,161 |  |  | 19,831 |  |  | 413,546 |
Operating income (loss) |  |  | 82,784 |  |  | 35,387 |  |  | (19,831) |  |  | 98,340 |
Interest income |  |  | - |  |  | - |  |  | 11 |  |  | 11 |
Interest expense |  |  | - |  |  | - |  |  | (36,628) |  |  | (36,628) |
Income (loss) before income taxes and equity in losses of an investee |  |  | 82,784 |  |  | 35,387 |  |  | (56,448) |  |  | 61,723 |
Income tax expense |  |  | - |  |  | - |  |  | (514) |  |  | (514) |
Equity in losses of an investee |  |  | - |  |  | - |  |  | (24) |  |  | (24) |
Net income (loss) |  | $ | 82,784 |  | $ | 35,387 |  | $ | (56,986) |  | $ | 61,185 |
|  | For the Nine Months Ended September 30, 2015 |
|  | Hotels |  | Travel Centers |  | Corporate |  | Consolidated |
Hotel operating revenues |  | $ | 1,243,744 |  | $ | - |  | $ | - |  | $ | 1,243,744 |
Rental income |  |  | 24,339 |  |  | 183,222 |  |  | - |  |  | 207,561 |
FF&E reserve income |  |  | 3,159 |  |  | - |  |  | - |  |  | 3,159 |
Total revenues |  |  | 1,271,242 |  |  | 183,222 |  |  | - |  |  | 1,454,464 |
Hotel operating expenses |  |  | 870,689 |  |  | - |  |  | - |  |  | 870,689 |
Depreciation and amortization |  |  | 159,421 |  |  | 84,391 |  |  | - |  |  | 243,812 |
General and administrative |  |  | - |  |  | - |  |  | 53,820 |  |  | 53,820 |
Acquisition related costs |  |  | 1,986 |  |  | - |  |  | - |  |  | 1,986 |
Total expenses |  |  | 1,032,096 |  |  | 84,391 |  |  | 53,820 |  |  | 1,170,307 |
Operating income (loss) |  |  | 239,146 |  |  | 98,831 |  |  | (53,820) |  |  | 284,157 |
Interest income |  |  | - |  |  | - |  |  | 32 |  |  | 32 |
Interest expense |  |  | - |  |  | - |  |  | (107,918) |  |  | (107,918) |
Income (loss) before income taxes, equity in earnings of an investee and gain on sale of real estate |  |  | 239,146 |  |  | 98,831 |  |  | (161,706) |  |  | 176,271 |
Income tax expense |  |  | - |  |  | - |  |  | (1,445) |  |  | (1,445) |
Equity in earnings of an investee |  |  | - |  |  | - |  |  | 71 |  |  | 71 |
Income (loss) before gain on sale of real estate |  |  | 239,146 |  |  | 98,831 |  |  | (163,080) |  |  | 174,897 |
Gain on sale of real estate |  |  | - |  |  | 11,015 |  |  | - |  |  | 11,015 |
Net income (loss) |  | $ | 239,146 |  | $ | 109,846 |  | $ | (163,080) |  | $ | 185,912 |
|  | As of September 30, 2015 |
|  | Hotels |  | Travel Centers |  | Corporate |  | Consolidated |
Total assets |  | $ | 3,903,957 |  | $ | 2,425,709 |  | $ | 164,884 |  | $ | 6,494,550 |
|  | For the Three Months Ended September 30, 2014 |
|  | Hotels |  | Travel Centers |  | Corporate |  | Consolidated |
Hotel operating revenues |  | $ | 394,973 |  | $ | - |  | $ | - |  | $ | 394,973 |
Rental income |  |  | 8,088 |  |  | 55,749 |  |  | - |  |  | 63,837 |
FF&E reserve income |  |  | 829 |  |  | - |  |  | - |  |  | 829 |
Total revenues |  |  | 403,890 |  |  | 55,749 |  |  | - |  |  | 459,639 |
Hotel operating expenses |  |  | 279,560 |  |  | - |  |  | - |  |  | 279,560 |
Depreciation and amortization |  |  | 54,024 |  |  | 25,625 |  |  | - |  |  | 79,649 |
General and administrative |  |  | - |  |  | - |  |  | 16,798 |  |  | 16,798 |
Acquisition related costs |  |  | 14 |  |  | - |  |  | - |  |  | 14 |
Total expenses |  |  | 333,598 |  |  | 25,625 |  |  | 16,798 |  |  | 376,021 |
Operating income (loss) |  |  | 70,292 |  |  | 30,124 |  |  | (16,798) |  |  | 83,618 |
Interest income |  |  | - |  |  | - |  |  | 13 |  |  | 13 |
Interest expense |  |  | - |  |  | - |  |  | (34,304) |  |  | (34,304) |
Loss on early extinguishment of debt |  |  |  |  |  |  |  |  | (129) |  |  | (129) |
Income (loss) before income taxes and equity in earnings of an investee |  |  | 70,292 |  |  | 30,124 |  |  | (51,218) |  |  | 49,198 |
Income tax expense |  |  | - |  |  | - |  |  | (39) |  |  | (39) |
Equity in earnings of an investee |  |  | - |  |  | - |  |  | 38 |  |  | 38 |
Net income (loss) |  | $ | 70,292 |  | $ | 30,124 |  | $ | (51,219) |  | $ | 49,197 |
|  | For the Nine Months Ended September 30, 2014 |
|  | Hotels |  | Travel Centers |  | Corporate |  | Consolidated |
Hotel operating revenues |  | $ | 1,112,157 |  | $ | - |  | $ | - |  | $ | 1,112,157 |
Rental income |  |  | 24,532 |  |  | 166,427 |  |  | - |  |  | 190,959 |
FF&E reserve income |  |  | 2,673 |  |  | - |  |  | - |  |  | 2,673 |
Total revenues |  |  | 1,139,362 |  |  | 166,427 |  |  | - |  |  | 1,305,789 |
Hotel operating expenses |  |  | 780,955 |  |  | - |  |  | - |  |  | 780,955 |
Depreciation and amortization |  |  | 160,402 |  |  | 76,297 |  |  | - |  |  | 236,699 |
General and administrative |  |  | - |  |  | - |  |  | 41,429 |  |  | 41,429 |
Acquisition related costs |  |  | 237 |  |  | - |  |  | - |  |  | 237 |
Total expenses |  |  | 941,594 |  |  | 76,297 |  |  | 41,429 |  |  | 1,059,320 |
Operating income (loss) |  |  | 197,768 |  |  | 90,130 |  |  | (41,429) |  |  | 246,469 |
Interest income |  |  | - |  |  | - |  |  | 63 |  |  | 63 |
Interest expense |  |  | - |  |  | - |  |  | (104,101) |  |  | (104,101) |
Loss on early extinguishment of debt |  |  | - |  |  | - |  |  | (855) |  |  | (855) |
Income (loss) before income taxes, equity in earnings of an investee and gain on sale of real estate |  |  | 197,768 |  |  | 90,130 |  |  | (146,322) |  |  | 141,576 |
Income tax expense |  |  | - |  |  | - |  |  | (1,110) |  |  | (1,110) |
Equity in earnings of an investee |  |  | - |  |  | - |  |  | 66 |  |  | 66 |
Income (loss) before gain on sale of real estate |  |  | 197,768 |  |  | 90,130 |  |  | (147,366) |  |  | 140,532 |
Gain on sale of real estate |  |  | 130 |  |  | - |  |  | - |  |  | 130 |
Net income (loss) |  | $ | 197,898 |  | $ | 90,130 |  | $ | (147,366) |  | $ | 140,662 |
|  | As of December 31, 2014 |
|  | Hotels |  | Travel Centers |  | Corporate |  | Consolidated |
Total assets |  | $ | 3,748,062 |  | $ | 2,194,682 |  | $ | 39,818 |  | $ | 5,982,562 |

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