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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Hotel operating revenues $ 199,719 $ 525,290 $ 700,578 $ 1,521,368
Rental income 96,776 73,619 294,432 210,509
FF&E reserve income 0 863 201 3,365
Total revenues 296,495 599,772 995,211 1,735,242
Expenses:        
Hotel operating expenses 174,801 377,895 492,906 1,076,011
Other operating expenses 3,705 1,707 11,029 4,419
Depreciation and amortization 122,204 103,160 377,557 301,721
General and administrative 12,295 12,464 37,621 36,906
Loss on asset impairment 10,248 0 55,502 0
Total expenses 323,253 495,226 974,615 1,419,057
Gain (loss) on sale of real estate 109 0 (9,655) 159,535
Gain on insurance settlement 0 0 62,386 0
Dividend income 0 0 0 1,752
Unrealized gains (losses) on equity securities, net 5,606 (3,950) 4,409 (43,761)
Interest income 6 688 283 1,774
Interest expense (including amortization of debt issuance costs and debt discounts and premiums of $3,877, $2,689, $10,651 and $7,829, respectively) (80,532) (52,375) (223,679) (151,742)
Loss on early extinguishment of debt 0 (8,451) (6,970) (8,451)
Income (loss) before income taxes and equity in earnings of an investee (101,569) 40,458 (152,630) 275,292
Income tax (expense) benefit 296 (467) (16,706) (1,266)
Equity in earnings (losses) of an investee (1,369) 83 (4,305) 617
Net income (loss) (102,642) 40,074 (173,641) 274,643
Other comprehensive income (loss):        
Equity interest in investee’s unrealized gains (losses) 63 (46) 63 91
Other comprehensive income (loss) 63 (46) 63 91
Comprehensive income (loss) $ (102,579) $ 40,028 $ (173,578) $ 274,734
Weighted average common shares outstanding (basic) (in shares) 164,435 164,321 164,397 164,294
Weighted average common shares outstanding (diluted) (in shares) 164,435 164,348 164,397 164,332
Net income per common share (basic and diluted) (in dollars per share) $ (0.62) $ 0.24 $ (1.06) $ 1.67