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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Hotel operating revenues $ 412,486 $ 404,327 $ 748,722 $ 739,123
Rental income 100,462 99,452 200,476 193,865
Total revenues 512,948 503,779 949,198 932,988
Expenses:        
Hotel operating expenses 328,247 309,100 633,333 608,666
Net lease operating expenses 4,958 4,372 9,681 8,277
Depreciation and amortization 95,674 94,571 188,781 194,610
General and administrative 10,681 12,420 21,187 23,331
Transaction related costs 0 931 0 1,818
Loss on asset impairment, net 34,887 9,005 37,338 9,005
Total expenses 474,447 430,399 890,320 845,707
(Loss) gain on sale of real estate, net (32) (62) (2,995) 41,836
(Loss) gain on equity securities, net 0 (593) 0 48,837
Interest income 819 3,468 2,781 6,254
Interest expense (including amortization of debt issuance costs, discounts and premiums of $7,466, $6,804, $14,692 and $12,036, respectively) (93,850) (82,503) (185,264) (164,083)
Loss on early extinguishment of debt, net 16,048 238 16,048 282
(Loss) income before income tax expense and equity in (losses) earnings of an investee (70,610) (6,548) (142,648) 19,843
Income tax expense (524) (5,247) (1,531) (1,467)
Equity in (losses) earnings of an investee (2,716) 517 (8,054) (3,704)
Net (loss) income (73,850) (11,278) (152,233) 14,672
Other comprehensive (loss) income:        
Equity interest in investee’s unrealized (losses) gains (192) 215 (536) 1
Other comprehensive (loss) income (192) 215 (536) 1
Comprehensive (loss) income $ (74,042) $ (11,063) $ (152,769) $ 14,673
Weighted average common shares outstanding (basic) (in shares) 165,198 164,902 165,178 164,884
Weighted average common shares outstanding - diluted (in shares) 165,198 164,902 165,178 164,884
Net (loss) income per common share (basic) (in dollars per share) $ (0.45) $ (0.07) $ (0.92) $ 0.09
Net (loss) income per common share (diluted) (in dollars per share) $ (0.45) $ (0.07) $ (0.92) $ 0.09
Revenue from contract with customer, product and service, extensible enumeration Hotel Hotel Hotel Hotel
Cost, product and service, extensible enumeration Hotel Hotel Hotel Hotel