v3.22.4
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUE        
Total revenue $ 161,189 $ 116,177 $ 497,963 $ 297,135
Hotel operating expenses:        
Total hotel operating expenses 112,696 77,043 324,916 199,317
Property taxes, insurance and other 8,851 12,622 22,731 27,076
Depreciation and amortization 19,604 18,284 57,616 54,881
Advisory services fee 8,854 4,809 22,481 16,343
(Gain) loss on legal settlements 0 0 (114) (989)
Transaction costs 0 275 0 571
Corporate general and administrative 8,075 2,094 14,008 6,077
Total expenses 158,080 115,127 441,638 303,276
Gain (loss) on insurance settlement and disposition of assets 0 0 0 696
OPERATING INCOME (LOSS) 3,109 1,050 56,325 (5,445)
Equity in earnings (loss) of unconsolidated entity (74) (68) (220) (198)
Interest income 745 13 932 34
Other income (expense) 27 0 27 0
Interest expense and amortization of discounts and loan costs (14,490) (8,364) (33,293) (22,346)
Write-off of loan costs and exit fees (8) (432) (106) (1,960)
Unrealized gain (loss) on derivatives 2,403 142 4,019 64
INCOME (LOSS) BEFORE INCOME TAXES (8,288) (7,659) 27,684 (29,851)
Income tax (expense) benefit (95) (560) (3,783) (766)
NET INCOME (LOSS) (8,383) (8,219) 23,901 (30,617)
(Income) loss attributable to noncontrolling interest in consolidated entities (823) 450 (2,265) 2,546
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership 1,166 823 (647) 3,184
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY (8,040) (6,946) 20,989 (24,887)
Preferred dividends (6,028) (1,977) (13,395) (6,258)
Adjustments to Series Preferred Stock 2,649 0 4,802 0
Gain (loss) on extinguishment of preferred stock 0 (111) 0 (4,595)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (16,717) $ (9,034) $ 2,792 $ (35,740)
INCOME (LOSS) PER SHARE - BASIC:        
Net income (loss) attributable to common stockholders (in dollars per share) $ (0.24) $ (0.15) $ 0.04 $ (0.73)
Weighted average common shares outstanding – basic (in shares) 70,956 59,207 69,213 48,954
INCOME (LOSS) PER SHARE - DILUTED:        
Net income (loss) attributable to common stockholders (in dollars per share) $ (0.24) $ (0.15) $ 0.04 $ (0.73)
Weighted average common shares outstanding – diluted (in shares) 70,956 59,207 69,214 48,954
Total hotel revenue        
REVENUE        
Total revenue $ 161,189 $ 116,177 $ 497,963 $ 297,135
Rooms        
REVENUE        
Total revenue 104,503 77,560 322,222 195,720
Hotel operating expenses:        
Total hotel operating expenses 25,424 17,072 69,742 41,569
Food and beverage        
REVENUE        
Total revenue 37,624 24,494 116,600 60,976
Hotel operating expenses:        
Total hotel operating expenses 31,320 20,252 91,242 50,526
Other hotel        
REVENUE        
Total revenue 19,062 14,123 59,141 40,439
Hotel operating expenses:        
Total hotel operating expenses 50,836 36,124 149,130 98,143
Management fees        
Hotel operating expenses:        
Total hotel operating expenses $ 5,116 $ 3,595 $ 14,802 $ 9,079