XML 14 R4.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Total revenue $ 75,679 $ 72,915
Total hotel operating expenses 41,826 39,689
Depreciation and amortization 12,772 12,036
Property taxes, ground rent and insurance 6,166 5,775
General and administrative 3,514 3,622
Other charges 17 (14)
Reimbursed costs from unconsolidated real estate entities 1,491 1,539
Total operating expenses 65,786 62,647
Operating income before loss on sale of hotel property 9,893 10,268
Loss on sale of hotel property 0 (17)
Operating Income 9,893 10,251
Interest and other income 55 2
Interest expense, including amortization of deferred fees (7,197) (6,631)
Loss from unconsolidated real estate entities (1,123) (754)
Income before income tax expense 1,628 2,868
Income tax expense 0 0
Net income 1,628 2,868
Net income attributable to noncontrolling interests (15) (20)
Net income attributable to common shareholders $ 1,613 $ 2,848
Income per Common Share - Basic:    
Net income attributable to common shareholders (in dollars per share) $ 0.03 $ 0.06
Income per Common Share - Diluted:    
Net income attributable to common shareholders (in dollars per share) $ 0.03 $ 0.06
Weighted average number of common shares outstanding:    
Basic (in shares) 46,556,710 45,753,792
Diluted (in shares) 46,734,958 46,022,690
Distributions declared per common share (in dollars per share) $ 0.33 $ 0.33
Room    
Total revenue $ 68,085 $ 66,251
Total hotel operating expenses 15,570 14,553
Food and beverage    
Total revenue 2,427 2,098
Total hotel operating expenses 2,009 1,740
Other    
Total revenue 3,676 3,027
Cost reimbursements from unconsolidated real estate entities    
Total revenue 1,491 1,539
Telephone    
Total hotel operating expenses 433 459
Other hotel operating    
Total hotel operating expenses 939 721
General and administrative    
Total hotel operating expenses 6,167 6,033
Franchise and marketing fees    
Total hotel operating expenses 5,932 5,525
Advertising and promotions    
Total hotel operating expenses 1,533 1,565
Utilities    
Total hotel operating expenses 2,750 2,699
Repairs and maintenance    
Total hotel operating expenses 3,611 3,624
Management fees    
Total hotel operating expenses 2,544 2,437
Insurance    
Total hotel operating expenses $ 338 $ 333