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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Hotel operating revenues $ 495,550 $ 464,981 $ 1,392,995 $ 1,334,656
Rental income 80,896 77,470 240,274 229,760
FF&E reserve income 1,142 1,065 3,524 3,517
Total revenues 577,588 543,516 1,636,793 1,567,933
Expenses:        
Hotel operating expenses 343,274 322,012 965,546 923,239
Depreciation and amortization 98,205 90,139 286,811 266,192
General and administrative 13,404 37,739 76,097 91,127
Acquisition related costs 0 156 0 885
Total expenses 454,883 450,046 1,328,454 1,281,443
Operating income 122,705 93,470 308,339 286,490
Dividend income 626 626 1,878 1,375
Interest income 211 89 590 227
Interest expense (including amortization of debt issuance costs and debt discounts and premiums of $2,194 and $2,122 and $6,541 and $6,114, respectively) (46,574) (41,280) (135,329) (124,564)
Loss on early extinguishment of debt 0 (158) 0 (228)
Income before income taxes, equity in earnings of an investee and gain on sale of real estate 76,968 52,747 175,478 163,300
Income tax expense (619) (948) (1,761) (3,483)
Equity in earnings of an investee 31 13 533 107
Income before gain on sale of real estate 76,380 51,812 174,250 159,924
Gain on sale of real estate 9,348 0 9,348 0
Net income 85,728 51,812 183,598 159,924
Other comprehensive income:        
Unrealized gain on investment securities 7,273 14,032 19,923 51,253
Equity interest in investee’s unrealized gains 116 80 295 175
Other comprehensive income 7,389 14,112 20,218 51,428
Comprehensive income 93,117 65,924 203,816 211,352
Preferred distributions 0 (5,166) (1,435) (15,498)
Excess of liquidation preference over carrying value of preferred shares redeemed 0 0 (9,893) 0
Net income available for common shareholders $ 85,728 $ 46,646 $ 172,270 $ 144,426
Weighted average common shares outstanding (basic) (in shares) 164,149 157,217 164,131 153,357
Weighted average common shares outstanding (diluted) (in shares) 164,188 157,263 164,168 153,390
Net income available for common shareholders per common share (basic and diluted) (in dollars per share) $ 0.52 $ 0.30 $ 1.05 $ 0.94