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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUE        
Total revenue $ 43,065 $ 415,148 $ 324,942 $ 773,866
Hotel operating expenses:        
Total hotel expenses 66,555 251,693 268,265 480,179
Property taxes, insurance and other 20,700 21,762 41,172 42,159
Depreciation and amortization 65,016 67,511 131,366 134,689
Impairment charges 27,605 6,533 55,218 6,533
Transaction costs 0 2 0 2
Advisory services fee 10,216 16,281 25,515 32,585
Corporate, general and administrative 4,708 2,917 8,200 5,518
Total expenses 194,800 366,699 529,736 701,665
Gain (loss) on sale of assets and hotel properties (6) 328 3,617 561
OPERATING INCOME (LOSS) (151,741) 48,777 (201,177) 72,762
Equity in earnings (loss) of unconsolidated entities (79) (867) (158) (1,930)
Interest income 41 785 652 1,566
Other income (expense) (3,149) (338) (1,627) (654)
Interest expense and amortization of premiums and loan costs (88,082) (67,987) (145,167) (134,153)
Write-off of premiums, loan costs and exit fees (1,935) (90) (2,030) (2,152)
Unrealized gain (loss) on marketable securities 479 598 (998) 1,406
Unrealized gain (loss) on derivatives 192 1,476 4,614 (1,518)
INCOME (LOSS) BEFORE INCOME TAXES (244,274) (17,646) (345,891) (64,673)
Income tax (expense) benefit 2,188 (3,706) 1,885 (3,301)
NET INCOME (LOSS) (242,086) (21,352) (344,006) (67,974)
(Income) loss attributable to noncontrolling interest in consolidated entities 120 (14) 168 12
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership 37,350 5,084 55,021 13,663
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY (204,616) (16,282) (288,817) (54,299)
Preferred dividends (10,644) (10,644) (21,288) (21,288)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (215,260) $ (26,926) $ (310,105) $ (75,587)
Basic:        
Net income (loss) attributable to common stockholders (in dollars per share) $ (20.85) $ (2.73) $ (30.46) $ (7.67)
Weighted average common shares outstanding – basic (in shares) 10,312 9,994 10,162 9,968
Diluted:        
Net income (loss) attributable to common stockholders (in dollars per share) $ (20.85) $ (2.73) $ (30.46) $ (7.67)
Weighted average common shares outstanding – diluted (in shares) 10,312 9,994 10,162 9,968
Total hotel revenue        
REVENUE        
Total revenue $ 42,789 $ 414,025 $ 323,894 $ 771,671
Rooms        
REVENUE        
Total revenue 37,439 328,252 253,246 608,633
Hotel operating expenses:        
Total hotel expenses 12,642 68,179 65,108 128,826
Food and beverage        
REVENUE        
Total revenue 1,197 67,298 49,147 128,359
Hotel operating expenses:        
Total hotel expenses 3,463 44,122 38,364 85,445
Other hotel revenue and expenses        
REVENUE        
Total revenue 4,153 18,475 21,501 34,679
Hotel operating expenses:        
Total hotel expenses 46,061 124,609 149,855 238,136
Other        
REVENUE        
Total revenue 276 1,123 1,048 2,195
Management fees        
Hotel operating expenses:        
Total hotel expenses $ 4,389 $ 14,783 $ 14,938 $ 27,772