XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Total revenues $ 70,249 $ 379,787 $ 397,960 $ 1,158,281
Operating expenses:        
Total hotel operating expenses 86,990 225,696 359,920 680,424
Corporate 7,299 9,404 22,693 26,518
Preopening costs 96 164 1,597 2,274
Gain on sale of assets     (1,261)  
Credit loss on held-to-maturity securities     32,784  
Depreciation and amortization 53,876 53,998 161,232 160,560
Total operating expenses 173,415 323,284 637,111 962,498
Operating income (loss) (103,166) 56,503 (239,151) 195,783
Interest expense (28,127) (35,261) (87,527) (100,840)
Interest income 1,540 2,878 5,765 8,756
Loss on extinguishment of debt   (494)   (494)
Loss from unconsolidated joint ventures (1,767) (308) (5,482) (475)
Other gains and (losses), net 1,729 1,109 (14,831) 857
Income (loss) before income taxes (129,791) 24,427 (341,226) 103,587
Provision for income taxes (86) (3,537) (27,046) (13,743)
Net income (loss) (129,877) 20,890 (368,272) 89,844
Net loss attributable to noncontrolling interest in consolidated joint venture 11,893 1,459 30,280 11,296
Net loss attributable to noncontrolling interest in Operating Partnership 325   325  
Net income (loss) available to common stockholders $ (117,659) $ 22,349 $ (337,667) $ 101,140
Basic income (loss) per share available to common stockholders $ (2.14) $ 0.43 $ (6.14) $ 1.97
Diluted income (loss) per share available to common stockholders $ (2.14) $ 0.43 $ (6.14) $ 1.95
Comprehensive income (loss), net of taxes $ (134,302) $ 13,297 $ (411,323) $ 82,458
Comprehensive loss, net of taxes, attributable to noncontrolling interest 10,793 3,353 37,850 13,190
Comprehensive income (loss), net of taxes, available to common stockholders (123,509) 16,650 (373,473) 95,648
Notes Receivable [Member]        
Operating expenses:        
Interest income 1,500 2,500 4,700 7,700
Bonds B Series [Member]        
Operating expenses:        
Credit loss on held-to-maturity securities 7,811   32,784  
Rooms [Member]        
Revenues:        
Total revenues 24,487 134,950 133,417 411,866
Operating expenses:        
Total hotel operating expenses 10,280 37,116 47,060 108,184
Food and Beverage [Member]        
Revenues:        
Total revenues 16,217 155,173 163,477 499,346
Operating expenses:        
Total hotel operating expenses 19,233 88,584 114,935 270,623
Hotel, Other [Member]        
Revenues:        
Total revenues 17,274 38,134 57,060 111,684
Operating expenses:        
Total hotel operating expenses 56,961 91,608 192,480 273,074
Management Fees [Member]        
Operating expenses:        
Total hotel operating expenses 516 8,388 5,445 28,543
Entertainment [Member]        
Revenues:        
Total revenues 12,271 51,530 44,006 135,385
Operating expenses:        
Total hotel operating expenses $ 17,343 $ 34,022 $ 60,146 $ 92,722