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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenue:    
Room $ 64,393 $ 63,934
Food and beverage 1,502 1,508
Other 2,446 2,354
Cost reimbursements from unconsolidated real estate entities 881 1,054
Total revenue 69,222 68,850
Hotel operating expenses:    
Room 13,505 13,812
Food and beverage 1,252 1,178
Telephone 409 421
Other hotel operating 599 589
General and administrative 5,654 5,497
Franchise and marketing fees 5,302 5,187
Advertising and promotions 1,331 1,352
Utilities 2,370 2,382
Repairs and maintenance 3,252 3,201
Management fees 2,247 2,229
Insurance 333 337
Total hotel operating expenses 36,254 36,185
Depreciation and amortization 12,004 12,475
Property taxes, ground rent and insurance 4,788 5,023
General and administrative 3,268 3,112
Hotel property acquisition costs and other charges 0 12
Reimbursed costs from unconsolidated real estate entities 881 1,054
Total operating expenses 57,195 57,861
Operating income 12,027 10,989
Interest and other income 12 21
Interest expense, including amortization of deferred fees (6,993) (7,037)
Loss on early extinguishment of debt 0 (4)
Loss from unconsolidated real estate entities (85) (647)
Income before income tax expense 4,961 3,322
Income tax expense (317) 0
Net income 4,644 3,322
Net income attributable to noncontrolling interests (31) (22)
Net income attributable to common shareholders $ 4,613 $ 3,300
Income per Common Share - Basic:    
Net income attributable to common shareholders (in dollars per share) $ 0.12 $ 0.09
Income per Common Share - Diluted:    
Net income attributable to common shareholders (in dollars per share) $ 0.12 $ 0.08
Weighted average number of common shares outstanding:    
Basic (in shares) 38,361,113 38,274,448
Diluted (in shares) 38,573,928 38,413,354
Distributions per common share: (in dollars per share) $ 0.33 $ 0.31