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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Revenues:        
Hotel operating revenues $ 348,908 $ 251,722 $ 990,436 $ 741,775
Rental income 62,731 73,915 186,799 220,863
FF&E reserve income 636 4,431 1,828 12,033
Total revenue 412,275 330,068 1,179,063 974,671
Expenses:        
Hotel operating expenses 249,862 184,566 705,054 527,806
Depreciation and amortization 76,048 66,566 221,926 192,206
General and administrative 13,094 10,336 37,156 32,333
Acquisition related costs 1,090 84 3,180 1,648
Loss on asset impairment 5,837   8,008 889
Total expenses 345,931 261,552 975,324 754,882
Operating income 66,344 68,516 203,739 219,789
Interest income 18 116 97 233
Interest expense (including amortization of deferred financing costs and debt discounts of $1,584, $1,694, $4,620 and $4,648, respectively) (37,986) (34,854) (108,188) (101,660)
Gain on sale of real estate   10,602   10,602
Equity in earnings of an investee 64 115 219 236
Income before income taxes 28,440 44,495 95,867 129,200
Income tax benefit (expense) (873) 163 4,559 (3,908)
Net income 27,567 44,658 100,426 125,292
Excess of liquidation preference over carrying value of preferred shares redeemed (5,627) (5,040) (5,627) (7,984)
Preferred distributions (5,199) (10,138) (21,393) (32,048)
Net income available for common shareholders 16,741 29,480 73,406 85,260
Net income 27,567 44,658 100,426 125,292
Other comprehensive income (loss):        
Unrealized gain (loss) on TravelCenters of America common shares (7,849) 737 8,000 2,820
Equity interest in investee's unrealized gains (losses) 13 35 (68) 31
Other comprehensive income (loss) (7,836) 772 7,932 2,851
Comprehensive income $ 19,731 $ 45,430 $ 108,358 $ 128,143
Weighted average common shares outstanding (in shares) 139,764 123,577 135,030 123,553
Basic and diluted earnings per common shares:        
Net income available for common shareholders (in dollars per share) $ 0.12 $ 0.24 $ 0.54 $ 0.69