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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
REVENUE        
Rooms $ 79,449 $ 79,583 $ 146,867 $ 148,834
Food and beverage 27,980 27,051 52,453 51,916
Other 8,626 5,761 13,991 11,409
Total hotel revenue 116,055 112,395 213,311 212,159
Other 37 37 77 70
Total revenue 116,092 112,432 213,388 212,229
Hotel operating expenses:        
Rooms 17,613 17,096 33,410 32,915
Food and beverage 19,263 18,267 36,124 35,712
Other expenses 32,021 30,335 59,752 58,674
Management fees 4,209 4,331 7,754 8,138
Total hotel expenses 73,106 70,029 137,040 135,439
Property taxes, insurance and other 5,370 4,514 10,444 9,557
Depreciation and amortization 13,469 11,263 25,440 23,167
Advisory services fee 3,143 5,835 4,008 7,899
Contract modification cost 5,000 0 5,000 0
Transaction costs 2,066 438 6,394 438
Corporate general and administrative 1,531 9,838 5,405 13,761
Total expenses 103,685 101,917 193,731 190,261
OPERATING INCOME (LOSS) 12,407 10,515 19,657 21,968
Equity in earnings (loss) of unconsolidated entity 0 63 0 (2,587)
Interest income 165 50 277 82
Other income (expense) (113) 0 (270) (10)
Interest expense and amortization of loan costs (9,931) (10,637) (18,133) (21,271)
Write-off of loan costs and exit fees 0 0 (1,963) 0
Unrealized gain (loss) on investment in Ashford Inc.     1,528 (633)
Unrealized gain (loss) on derivatives (100) 2,597 (998) 6,130
INCOME (LOSS) BEFORE INCOME TAXES 865 3,448 98 3,679
Income tax (expense) benefit (479) (1,156) (1) (1,526)
NET INCOME (LOSS) 386 2,292 97 2,153
(Income) loss from consolidated entities attributable to noncontrolling interests (1,614) 80 (1,593) (65)
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership 343 (184) 598 (34)
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY (885) 2,188 (898) 2,054
Preferred dividends (1,707) (978) (3,380) (1,872)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (2,592) $ 1,210 $ (4,278) $ 182
INCOME (LOSS) PER SHARE - BASIC:        
Net income (loss) attributable to common stockholders (in dollars per share) $ (0.09) $ 0.04 $ (0.16) $ 0.00
Weighted average common shares outstanding – basic (in shares) 31,469 27,916 29,380 28,121
INCOME (LOSS) PER SHARE - DILUTED:        
Net income (loss) attributable to common stockholders (in dollars per share) $ (0.09) $ 0.04 $ (0.16) $ 0.00
Weighted average common shares outstanding – diluted (in shares) 31,469 32,418 29,380 28,224
Dividends declared per common share (in dollars per share) $ 0.16 $ 0.12 $ 0.32 $ 0.22
Ashford Inc. [Member]        
REVENUE        
Total revenue $ 19,639 $ 18,152 $ 32,652 $ 31,561
Hotel operating expenses:        
Total expenses 18,221 20,344 33,370 34,265
OPERATING INCOME (LOSS) 1,418 (2,192) (718) (2,704)
Unrealized gain (loss) on investment in Ashford Inc. (1,563) 860 1,528 (633)
Income tax (expense) benefit (8,643) 655 (9,273) 15
NET INCOME (LOSS) (7,231) (1,279) (9,954) (9,677)
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership 332 355 695 473
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY $ (6,709) $ (1,106) $ (9,094) $ (2,838)