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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Total revenue $ 90,226 $ 82,953 $ 250,531 $ 233,431
Total hotel operating expenses 45,549 40,862 128,207 116,181
Depreciation and amortization 11,963 10,944 35,920 34,662
Impairment loss 0 0 0 6,663
Property taxes, ground rent and insurance 5,919 5,349 17,874 15,710
General and administrative 3,649 3,151 10,818 9,706
Other charges 7 (15) 256 0
Reimbursed costs from unconsolidated real estate entities 2,764 2,302 7,679 7,198
Total operating expenses 69,851 62,593 200,754 190,120
Operating income 20,375 20,360 49,777 43,311
Interest and other income 335 9 352 27
Interest expense, including amortization of deferred fees (6,708) (7,065) (20,005) (20,830)
Loss on sale of hotel property 0 0 (18) 0
Income from unconsolidated real estate entities 689 1,189 938 2,031
Income before income tax expense 14,691 14,493 31,044 24,539
Income tax expense 0 0 0 (317)
Net income 14,691 14,493 31,044 24,222
Net income attributable to noncontrolling interests (111) (101) (231) (167)
Net income attributable to common shareholders $ 14,580 $ 14,392 $ 30,813 $ 24,055
Income per Common Share - Basic:        
Net income attributable to common shareholders (in dollars per share) $ 0.31 $ 0.36 $ 0.67 $ 0.62
Income per Common Share - Diluted:        
Net income attributable to common shareholders (in dollars per share) $ 0.31 $ 0.36 $ 0.66 $ 0.61
Weighted average number of common shares outstanding:        
Basic (in shares) 46,149,765 39,298,974 45,925,178 38,731,900
Diluted (in shares) 46,384,969 39,550,494 46,078,558 38,960,455
Distributions declared per common share (in dollars per share) $ 0.33 $ 0.33 $ 0.99 $ 0.99
Room        
Total revenue $ 81,457 $ 76,221 $ 225,983 $ 213,415
Total hotel operating expenses 17,261 15,618 47,759 44,147
Food and beverage        
Total revenue 2,274 1,378 6,584 4,353
Total hotel operating expenses 1,870 1,307 5,350 3,770
Other        
Total revenue 3,731 3,052 10,285 8,465
Cost reimbursements from unconsolidated real estate entities        
Total revenue 2,764 2,302 7,679 7,198
Telephone        
Total hotel operating expenses 442 410 1,316 1,205
Other hotel operating        
Total hotel operating expenses 886 737 2,403 2,047
General and administrative        
Total hotel operating expenses 6,498 5,906 19,318 17,534
Franchise and marketing fees        
Total hotel operating expenses 6,863 6,366 18,962 17,758
Advertising and promotions        
Total hotel operating expenses 1,627 1,353 4,677 3,955
Utilities        
Total hotel operating expenses 3,064 2,708 8,209 7,431
Repairs and maintenance        
Total hotel operating expenses 3,783 3,467 11,043 9,898
Management fees        
Total hotel operating expenses 2,915 2,693 8,158 7,511
Insurance        
Total hotel operating expenses $ 340 $ 297 $ 1,012 $ 925