XML 18 R4.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Supplemental Income Statement Elements [Abstract]      
Total revenue $ 144,916 $ 328,328 $ 324,230
Hotel operating expenses:      
Total hotel operating expenses 95,498 174,251 170,562
Depreciation and amortization 53,871 51,505 48,169
Impairment loss on investment in unconsolidated real estate entities 15,282 0 0
Property taxes, ground rent and insurance 23,040 24,717 23,678
General and administrative 11,564 14,077 14,120
Other charges 4,385 1,441 3,806
Reimbursable costs from unconsolidated real estate entities 4,045 5,670 5,743
Total operating expenses 207,685 271,661 266,078
Operating (loss) income before gain (loss) on sale of hotel property (62,769) 56,667 58,152
Gain (loss) on sale of hotel property 21,116 (3,282) (18)
Operating (loss) income (41,653) 53,385 58,134
Interest and other income 179 190 462
Interest expense net of amounts capitalized, including amortization of deferred fees (28,122) (28,247) (26,878)
Loss from unconsolidated real estate entities (7,424) (6,448) (876)
(Loss ) income before income tax expense (77,020) 18,880 30,842
Income tax expense 0 0 28
Net (loss) income (77,020) 18,880 30,870
Net (loss) income attributable to non-controlling interest 997 (177) (229)
Net (loss) income attributable to common shareholders $ (76,023) $ 18,703 $ 30,641
(Loss) income per Common Share - Basic:      
Net income attributable to common shareholders (in dollars per share) $ (1.62) $ 0.39 $ 0.66
(Loss) income per Common Share - Diluted:      
Net income attributable to common shareholders (in dollars per share) $ (1.62) $ 0.39 $ 0.66
Weighted average number of common shares outstanding:      
Basic (in shares) 46,961,039 46,788,784 46,073,515
Diluted (in shares) 46,961,039 47,023,280 46,243,660
Distributions per common share (in dollars per share) $ 0.22 $ 1.32 $ 1.32
Room      
Supplemental Income Statement Elements [Abstract]      
Total revenue $ 130,564 $ 296,267 $ 295,897
Hotel operating expenses:      
Total hotel operating expenses 31,883 65,270 63,877
Food and beverage      
Supplemental Income Statement Elements [Abstract]      
Total revenue 2,718 9,824 8,880
Hotel operating expenses:      
Total hotel operating expenses 2,456 8,396 7,312
Other      
Supplemental Income Statement Elements [Abstract]      
Total revenue 7,589 16,567 13,710
Reimbursable costs from unconsolidated real estate entities      
Supplemental Income Statement Elements [Abstract]      
Total revenue 4,045 5,670 5,743
Telephone      
Hotel operating expenses:      
Total hotel operating expenses 1,451 1,638 1,766
Other hotel operating      
Hotel operating expenses:      
Total hotel operating expenses 1,629 4,039 3,296
General and administrative      
Hotel operating expenses:      
Total hotel operating expenses 16,733 25,641 25,567
Franchise and marketing fees      
Hotel operating expenses:      
Total hotel operating expenses 11,608 25,850 24,864
Advertising and promotions      
Hotel operating expenses:      
Total hotel operating expenses 3,983 6,043 6,227
Utilities      
Hotel operating expenses:      
Total hotel operating expenses 9,229 10,867 10,835
Repairs and maintenance      
Hotel operating expenses:      
Total hotel operating expenses 9,799 14,321 14,710
Management fees      
Hotel operating expenses:      
Total hotel operating expenses 5,289 10,822 10,754
Insurance      
Hotel operating expenses:      
Total hotel operating expenses $ 1,438 $ 1,364 $ 1,354