XML 22 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
REVENUE    
Rooms $ 67,418 $ 69,251
Food and beverage 24,473 24,865
Other 5,365 5,648
Total hotel revenue 97,256 99,764
Other 40 33
Total revenue 97,296 99,797
Hotel operating expenses:    
Rooms 15,797 15,819
Food and beverage 16,861 17,445
Other expenses 27,731 28,339
Management fees 3,545 3,807
Total hotel expenses 63,934 65,410
Property taxes, insurance and other 5,074 5,043
Depreciation and amortization 11,971 11,904
Advisory services fee 865 2,064
Transaction costs 4,328 0
Corporate general and administrative 3,874 3,923
Total expenses 90,046 88,344
OPERATING INCOME (LOSS) 7,250 11,453
Equity in earnings (loss) of unconsolidated entity 0 (2,650)
Interest income 112 32
Other income (expense) (157) (10)
Interest expense and amortization of loan costs (8,202) (10,634)
Write-off of loan costs and exit fees (1,963) 0
Unrealized gain (loss) on investment in Ashford Inc. 3,091 (1,493)
Unrealized gain (loss) on derivatives (898) 3,533
INCOME (LOSS) BEFORE INCOME TAXES (767) 231
Income tax (expense) benefit 478 (370)
NET INCOME (LOSS) (289) (139)
(Income) loss from consolidated entities attributable to noncontrolling interests 21 (145)
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership 255 150
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY (13) (134)
Preferred dividends (1,673) (894)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (1,686) $ (1,028)
INCOME (LOSS) PER SHARE - BASIC:    
Net income (loss) attributable to common stockholders (in dollars per share) $ (0.07) $ (0.04)
Weighted average common shares outstanding – basic (in shares) 27,267 28,343
INCOME (LOSS) PER SHARE - DILUTED:    
Net income (loss) attributable to common stockholders (in dollars per share) $ (0.07) $ (0.04)
Weighted average common shares outstanding – diluted (in shares) 27,267 28,343
Dividends declared per common share (in dollars per share) $ 0.16 $ 0.10
Ashford Inc. [Member]    
REVENUE    
Total revenue $ 13,013 $ 13,409
Hotel operating expenses:    
Total expenses 15,149 13,921
OPERATING INCOME (LOSS) (2,136) (512)
Unrealized gain (loss) on investment in Ashford Inc. 3,091 (1,493)
Income tax (expense) benefit (630) (640)
NET INCOME (LOSS) (2,723) (8,398)
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership 363 118
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY $ (2,385) $ (1,732)