Apple Hospitality REIT, Inc(NYSE:APLE) 
Apple Hospitality REIT, Inc. (NYSE: APLE) is a publicly traded real estate investment trust (?REIT?) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 235 hotels with more than 30,000 guest rooms ...
Website: http://www.applehospitalityreit.com
Founded: 2007
Full Time Employees: 67
Sector: Real Estate
Industry: REIT-Hotel & Motel
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| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-12-31 | 2014-09-30 | 2014-06-30 | 2014-03-31 | 2013-12-31 | 2013-09-30 | 2013-06-30 | 2013-03-31 | 2012-12-31 | 2012-09-30 | 2012-06-30 | 2012-03-31 | 2011-12-31 | 2011-09-30 | 2011-06-30 | 2011-03-31 | 2010-12-31 | 2010-09-30 | 2010-06-30 | 2010-03-31 | 2009-09-30 | 2009-06-30 | 2009-03-31 | 2008-12-31 | 2008-11-09 | 2008-09-30 |
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revenues: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
room | 304,657,000 | 292,984,000 | 339,986,000 | 348,589,000 | 296,864,000 | 300,032,000 | 346,058,000 | 353,689,000 | 298,746,000 | 282,475,000 | 327,121,000 | 331,043,000 | 285,520,000 | 273,150,000 | 315,940,000 | 312,370,000 | 237,976,000 | 231,374,000 | 260,415,000 | 231,166,000 | 148,481,000 | 125,562,000 | 140,116,000 | 76,828,000 | 217,979,000 | 265,208,000 | 307,293,000 | 315,232,000 | 279,470,000 | 270,679,000 | 307,794,000 | 319,022,000 | 274,836,000 | 266,013,000 | 302,298,000 | 306,283,000 | 269,393,000 | 257,360,000 | 255,269,000 | 237,340,000 | 206,150,000 | 192,751,000 | 221,978,000 | 214,991,000 | 192,013,000 | 183,237,000 | 213,831,000 | 213,372,000 | 125,442,000 | ||||||||||||||||||||||
food and beverage | 16,300,000 | 16,257,000 | 15,734,000 | 18,174,000 | 15,511,000 | 17,044,000 | 15,841,000 | 17,857,000 | 15,062,000 | 14,936,000 | 13,576,000 | 15,507,000 | 12,949,000 | 13,657,000 | 11,870,000 | 12,019,000 | 8,464,000 | 7,832,000 | 6,315,000 | 5,088,000 | 2,783,000 | 2,333,000 | 2,235,000 | 839,000 | 11,312,000 | 15,029,000 | 14,079,000 | 15,692,000 | 15,015,000 | 15,743,000 | 14,629,000 | 16,518,000 | |||||||||||||||||||||||||||||||||||||||
other | 16,784,000 | 17,195,000 | 18,158,000 | 17,607,000 | 15,327,000 | 15,960,000 | 16,944,000 | 18,531,000 | 15,704,000 | 15,045,000 | 17,563,000 | 15,080,000 | 12,985,000 | 12,314,000 | 13,340,000 | 13,279,000 | 14,038,000 | 11,382,000 | 10,434,000 | 11,150,000 | 7,449,000 | 6,070,000 | 6,475,000 | 3,411,000 | 8,719,000 | 9,734,000 | 10,350,000 | 10,193,000 | 9,302,000 | 8,833,000 | 9,774,000 | 9,174,000 | 23,553,000 | 23,054,000 | 22,628,000 | 25,421,000 | 23,532,000 | 25,071,000 | 21,202,000 | 20,296,000 | 18,337,000 | 20,282,000 | 18,577,000 | 19,383,000 | 18,339,000 | 19,086,000 | 18,053,000 | 19,196,000 | 11,794,000 | ||||||||||||||||||||||
total revenue | 337,741,000 | 326,436,000 | 373,878,000 | 384,370,000 | 327,702,000 | 333,036,000 | 378,843,000 | 390,077,000 | 329,512,000 | 312,456,000 | 358,260,000 | 361,630,000 | 311,454,000 | 299,121,000 | 341,150,000 | 337,668,000 | 260,478,000 | 250,588,000 | 277,164,000 | 247,404,000 | 158,713,000 | 133,965,000 | 148,826,000 | 81,078,000 | 238,010,000 | 289,971,000 | 331,722,000 | 341,117,000 | 303,787,000 | 295,255,000 | 332,197,000 | 344,714,000 | 298,389,000 | 289,067,000 | 324,926,000 | 331,704,000 | 292,925,000 | 282,431,000 | 276,471,000 | 257,636,000 | 224,487,000 | 213,033,000 | 240,555,000 | 234,374,000 | 210,352,000 | 202,323,000 | 231,884,000 | 232,568,000 | 137,236,000 | 90,779,000 | 100,237,000 | 104,572,000 | 92,403,000 | 86,732,000 | 93,653,000 | 97,110,000 | 88,091,000 | 78,402,000 | 85,668,000 | 89,734,000 | 77,381,000 | 59,592,000 | 49,125,000 | 40,970,000 | 31,773,000 | 28,101,000 | 26,584,000 | 18,683,000 | 179,750 | 719,000 | |
yoy | 3.06% | -1.98% | -1.31% | -1.46% | -0.55% | 6.59% | 5.75% | 7.87% | 5.80% | 4.46% | 5.02% | 7.10% | 19.57% | 19.37% | 23.09% | 36.48% | 64.12% | 87.05% | 86.23% | 205.14% | -33.32% | -53.80% | -55.14% | -76.23% | -21.65% | -1.79% | -0.14% | -1.04% | 1.81% | 2.14% | 2.24% | 3.92% | 1.87% | 2.35% | 17.53% | 28.75% | 30.49% | 32.58% | 14.93% | 9.93% | 6.72% | 5.29% | 3.74% | 0.78% | 53.28% | 122.87% | 131.34% | 122.40% | 48.52% | 4.67% | 7.03% | 7.68% | 4.89% | 10.62% | 9.32% | 8.22% | 13.84% | 31.56% | 74.39% | 119.02% | 143.54% | 112.06% | 84.79% | 119.29% | 15533.38% | 3597.36% | |||||
qoq | 3.46% | -12.69% | -2.73% | 17.29% | -1.60% | -12.09% | -2.88% | 18.38% | 5.46% | -12.79% | -0.93% | 16.11% | 4.12% | -12.32% | 1.03% | 29.63% | 3.95% | -9.59% | 12.03% | 55.88% | 18.47% | -9.99% | 83.56% | -65.94% | -17.92% | -12.59% | -2.75% | 12.29% | 2.89% | -11.12% | -3.63% | 15.53% | 3.22% | -11.04% | -2.04% | 13.24% | 3.72% | 2.16% | 7.31% | 14.77% | 5.38% | -11.44% | 2.64% | 11.42% | 3.97% | -12.75% | -0.29% | 69.47% | 51.18% | -9.44% | -4.15% | 13.17% | 6.54% | -7.39% | -3.56% | 10.24% | 12.36% | -8.48% | -4.53% | 15.96% | 29.85% | 21.31% | 19.90% | 28.95% | 13.07% | 5.71% | 42.29% | -75.00% | |||
expenses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
hotel operating expense: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
operating | 88,665,000 | 89,383,000 | 93,958,000 | 94,143,000 | 84,510,000 | 88,683,000 | 93,350,000 | 91,523,000 | 83,796,000 | 83,311,000 | 85,829,000 | 84,911,000 | 78,663,000 | 79,137,000 | 81,320,000 | 76,064,000 | 64,331,000 | 63,354,000 | 61,954,000 | 53,186,000 | 38,150,000 | 35,239,000 | 33,124,000 | 19,707,000 | 68,029,000 | 75,986,000 | 80,717,000 | 80,166,000 | 75,580,000 | 76,849,000 | 81,318,000 | 81,242,000 | 75,954,000 | 75,282,000 | 79,975,000 | 80,345,000 | 75,154,000 | 75,062,000 | 69,082,000 | 61,459,000 | 56,829,000 | 57,134,000 | 59,024,000 | 57,152,000 | 54,605,000 | 54,809,000 | 58,617,000 | 58,147,000 | 35,256,000 | ||||||||||||||||||||||
hotel administrative | 30,970,000 | 30,887,000 | 32,742,000 | 32,641,000 | 29,673,000 | 30,448,000 | 31,433,000 | 31,453,000 | 29,752,000 | 28,138,000 | 29,172,000 | 29,442,000 | 27,319,000 | 26,685,000 | 27,516,000 | 27,353,000 | 23,842,000 | 22,658,000 | 23,126,000 | 21,538,000 | 17,744,000 | 14,394,000 | 16,625,000 | 13,811,000 | 23,643,000 | 25,307,000 | 25,991,000 | 26,967,000 | 25,630,000 | 24,637,000 | 25,722,000 | 26,558,000 | 25,102,000 | 24,850,000 | 24,842,000 | 25,217,000 | 24,836,000 | 23,178,000 | 20,866,000 | 18,857,000 | 18,198,000 | 17,278,000 | 17,684,000 | 17,408,000 | 17,156,000 | 16,307,000 | 16,627,000 | 16,625,000 | 10,358,000 | ||||||||||||||||||||||
sales and marketing | 29,823,000 | 30,151,000 | 32,994,000 | 33,600,000 | 30,286,000 | 30,450,000 | 33,000,000 | 33,649,000 | 29,839,000 | 28,132,000 | 30,770,000 | 30,936,000 | 27,700,000 | 26,262,000 | 28,533,000 | 27,492,000 | 22,469,000 | 21,551,000 | 23,015,000 | 20,380,000 | 14,888,000 | 13,486,000 | 13,728,000 | 9,430,000 | 24,359,000 | 27,800,000 | 29,764,000 | 30,831,000 | 27,694,000 | 25,069,000 | 27,265,000 | 28,168,000 | 25,332,000 | 25,010,000 | 25,488,000 | 26,270,000 | 24,109,000 | 23,419,000 | 21,329,000 | 19,896,000 | 18,019,000 | 17,507,000 | 18,524,000 | 17,880,000 | 17,098,000 | 16,757,000 | 18,441,000 | 18,273,000 | 11,084,000 | 7,887,000 | 8,369,000 | 8,648,000 | 7,951,000 | 7,734,000 | 7,947,000 | 8,211,000 | 7,371,000 | 6,931,000 | 7,086,000 | 7,040,000 | 6,153,000 | 4,773,000 | 3,688,000 | 3,080,000 | 2,397,000 | 2,063,000 | 1,863,000 | 1,685,000 | 20,000 | 80,000 | |
utilities | 13,232,000 | 12,183,000 | 14,928,000 | 11,844,000 | 12,479,000 | 12,094,000 | 14,787,000 | 11,665,000 | 11,519,000 | 11,151,000 | 13,797,000 | 10,776,000 | 11,698,000 | 10,791,000 | 13,383,000 | 10,553,000 | 10,290,000 | 9,313,000 | 11,410,000 | 9,352,000 | 10,560,000 | 7,947,000 | 9,967,000 | 6,308,000 | 9,190,000 | 9,463,000 | 11,635,000 | 9,561,000 | 9,939,000 | 9,781,000 | 12,163,000 | 10,247,000 | 10,283,000 | 9,927,000 | 12,036,000 | 10,193,000 | 9,753,000 | 9,723,000 | 10,543,000 | 7,719,000 | 7,600,000 | 7,446,000 | 9,505,000 | 7,559,000 | 8,158,000 | 7,851,000 | 9,587,000 | 7,988,000 | 5,390,000 | 3,488,000 | 4,213,000 | 3,535,000 | 3,405,000 | 3,256,000 | 4,074,000 | 3,417,000 | 3,287,000 | 3,227,000 | 4,105,000 | 3,274,000 | 3,208,000 | 2,457,000 | 2,283,000 | 1,573,000 | 1,395,000 | 1,283,000 | 945,000 | 868,000 | 11,750 | 47,000 | |
repair and maintenance | 17,840,000 | 17,655,000 | 18,210,000 | 18,306,000 | 17,142,000 | 17,366,000 | 17,863,000 | 17,626,000 | 16,842,000 | 16,960,000 | 16,336,000 | 16,451,000 | 15,665,000 | 15,261,000 | 15,632,000 | 14,808,000 | 13,028,000 | 12,949,000 | 12,600,000 | 11,886,000 | 10,225,000 | 10,104,000 | 8,842,000 | 6,348,000 | 11,793,000 | 13,358,000 | 13,430,000 | 13,041,000 | 12,866,000 | 12,680,000 | 13,204,000 | 13,476,000 | 12,453,000 | 12,069,000 | 12,199,000 | 12,279,000 | 11,916,000 | 12,082,000 | 10,478,000 | 9,605,000 | 9,084,000 | 9,115,000 | 9,245,000 | 9,357,000 | 9,169,000 | 8,995,000 | 9,073,000 | 9,258,000 | 5,612,000 | 3,658,000 | 3,807,000 | 3,771,000 | 3,558,000 | 3,473,000 | 3,364,000 | 3,293,000 | 3,225,000 | 3,353,000 | 3,302,000 | 3,215,000 | 2,833,000 | 2,350,000 | 1,819,000 | 1,543,000 | 1,232,000 | 1,043,000 | 882,000 | 912,000 | 9,750 | 39,000 | |
franchise fees | 16,039,000 | 14,263,000 | 16,659,000 | 17,075,000 | 14,553,000 | 14,773,000 | 16,963,000 | 17,527,000 | 14,754,000 | 13,908,000 | 15,895,000 | 15,868,000 | 13,644,000 | 12,886,000 | 14,949,000 | 14,800,000 | 11,266,000 | 10,891,000 | 12,274,000 | 10,865,000 | 6,919,000 | 5,871,000 | 6,603,000 | 3,656,000 | 10,257,000 | 12,491,000 | 14,508,000 | 14,752,000 | 13,111,000 | 12,654,000 | 14,326,000 | 14,781,000 | 12,733,000 | 12,319,000 | 13,974,000 | 14,163,000 | 12,474,000 | 12,013,000 | 11,834,000 | 10,933,000 | 9,445,000 | 8,934,000 | 10,360,000 | 9,887,000 | 8,822,000 | 8,326,000 | 9,762,000 | 9,659,000 | 5,716,000 | 3,765,000 | 4,185,000 | 4,301,000 | 3,762,000 | 3,466,000 | 3,642,000 | 3,916,000 | 3,479,000 | 3,159,000 | 3,461,000 | 3,349,000 | 2,828,000 | 2,110,000 | 1,749,000 | 1,367,000 | 1,004,000 | 894,000 | 904,000 | 788,000 | 7,500 | 30,000 | |
management fees | 10,368,000 | 10,406,000 | 12,469,000 | 12,955,000 | 11,227,000 | 10,560,000 | 12,546,000 | 12,848,000 | 10,762,000 | 9,737,000 | 11,911,000 | 12,129,000 | 10,476,000 | 9,875,000 | 11,734,000 | 11,445,000 | 8,776,000 | 8,359,000 | 9,574,000 | 8,203,000 | 5,254,000 | 4,392,000 | 4,873,000 | 2,557,000 | 7,995,000 | 9,779,000 | 11,548,000 | 11,872,000 | 10,629,000 | 10,156,000 | 11,250,000 | 12,059,000 | 10,472,000 | 9,650,000 | 11,315,000 | 11,545,000 | 10,212,000 | 9,397,000 | 9,205,000 | 8,947,000 | 8,037,000 | 6,993,000 | 8,491,000 | 8,085,000 | 7,505,000 | 6,303,000 | 8,083,000 | 8,058,000 | 4,933,000 | 2,897,000 | 3,567,000 | 3,560,000 | 3,202,000 | 2,749,000 | 3,267,000 | 3,173,000 | 3,073,000 | 2,540,000 | 2,935,000 | 2,750,000 | 2,405,000 | 1,651,000 | 1,473,000 | 1,129,000 | 818,000 | 668,000 | 665,000 | 671,000 | 4,000 | 16,000 | |
total hotel operating expense | 206,937,000 | 204,928,000 | 221,960,000 | 220,564,000 | 199,870,000 | 204,374,000 | 219,942,000 | 216,291,000 | 197,264,000 | 191,337,000 | 203,710,000 | 200,513,000 | 185,165,000 | 180,897,000 | 193,067,000 | 182,515,000 | 154,002,000 | 149,075,000 | 153,953,000 | 135,410,000 | 103,740,000 | 91,433,000 | 93,762,000 | 61,817,000 | 155,266,000 | 174,184,000 | 187,593,000 | 187,190,000 | 175,449,000 | 171,826,000 | 185,248,000 | ||||||||||||||||||||||||||||||||||||||||
property taxes, insurance and other | 22,458,000 | 21,053,000 | 22,449,000 | 22,869,000 | 23,361,000 | 20,504,000 | 20,946,000 | 21,940,000 | 20,992,000 | 17,960,000 | 21,678,000 | 19,994,000 | 19,675,000 | 16,397,000 | 19,052,000 | 18,779,000 | 18,679,000 | 17,044,000 | 17,927,000 | 17,321,000 | 19,688,000 | 17,909,000 | 20,523,000 | 18,702,000 | 19,595,000 | 18,623,000 | 19,186,000 | 18,823,000 | 19,208,000 | 19,500,000 | 19,230,000 | 18,681,000 | 17,229,000 | 17,045,000 | 17,598,000 | 17,821,000 | 16,927,000 | 16,545,000 | 14,787,000 | 13,076,000 | 12,452,000 | 12,296,000 | 10,450,000 | 11,716,000 | 11,561,000 | 10,569,000 | 11,121,000 | 11,230,000 | 7,126,000 | 5,226,000 | 4,843,000 | 5,657,000 | 5,132,000 | ||||||||||||||||||
general and administrative | 10,796,000 | 7,473,000 | 7,528,000 | 8,064,000 | 9,228,000 | 11,703,000 | 9,190,000 | 11,065,000 | 10,584,000 | 12,761,000 | 11,079,000 | 12,100,000 | 11,461,000 | 12,248,000 | 10,271,000 | 10,307,000 | 9,638,000 | 11,223,000 | 13,261,000 | 8,435,000 | 8,119,000 | 7,100,000 | 6,726,000 | 6,025,000 | 9,523,000 | 10,726,000 | 9,039,000 | 8,308,000 | 8,137,000 | 7,326,000 | 3,370,000 | 6,721,000 | 6,877,000 | 8,086,000 | 5,350,000 | 6,151,000 | 6,754,000 | 4,521,000 | 2,623,000 | 5,060,000 | 4,828,000 | 5,131,000 | 5,175,000 | 3,699,000 | 5,547,000 | 6,140,000 | 5,627,000 | 6,628,000 | 2,634,000 | 354,000 | 1,778,000 | 2,239,000 | 1,860,000 | 2,147,000 | 2,149,000 | 2,327,000 | 2,604,000 | 2,891,000 | 1,753,000 | 2,011,000 | 1,534,000 | 1,972,000 | 1,425,000 | 1,765,000 | 1,310,000 | 937,000 | 1,059,000 | 839,000 | -490,000 | 394,000 | |
depreciation and amortization | 49,537,000 | 48,564,000 | 48,100,000 | 48,022,000 | 47,941,000 | 47,922,000 | 48,143,000 | 47,715,000 | 46,823,000 | 45,844,000 | 45,498,000 | 45,994,000 | 45,906,000 | 45,916,000 | 45,135,000 | 45,322,000 | 45,324,000 | 45,158,000 | 44,217,000 | 46,386,000 | 48,710,000 | 50,196,000 | 50,171,000 | 49,897,000 | 49,522,000 | 49,294,000 | 47,887,000 | 48,109,000 | 47,950,000 | ||||||||||||||||||||||||||||||||||||||||||
total expense | 289,728,000 | 282,018,000 | 305,761,000 | 299,519,000 | 280,400,000 | 284,662,000 | 301,117,000 | 297,011,000 | 275,663,000 | 273,546,000 | 281,965,000 | 278,601,000 | 262,207,000 | 281,633,000 | 267,525,000 | 256,923,000 | 227,643,000 | 222,500,000 | 229,358,000 | 207,552,000 | 191,011,000 | 168,862,000 | 171,182,000 | 140,823,000 | 233,906,000 | 253,232,000 | 270,597,000 | 262,853,000 | 251,149,000 | ||||||||||||||||||||||||||||||||||||||||||
gain on sale of real estate | 5,179,000 | 4,380,000 | 3,557,000 | 1,529,000 | 449,000 | 17,766,000 | 1,785,000 | -68,000 | 44,000 | -864,000 | 4,484,000 | 2,069,000 | -54,000 | 8,839,000 | 3,969,000 | -161,000 | 1,213,000 | 312,000 | -157,000 | 16,140,000 | -72,000 | -271,000 | 15,629,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
operating income | 48,013,000 | 49,597,000 | 72,497,000 | 84,851,000 | 50,859,000 | 49,903,000 | 77,726,000 | 93,515,000 | 71,615,000 | 38,910,000 | 76,295,000 | 83,029,000 | 49,247,000 | 17,488,000 | 75,410,000 | 80,745,000 | 32,835,000 | 28,020,000 | 47,850,000 | 38,988,000 | -27,814,000 | -32,828,000 | -22,356,000 | -59,799,000 | 12,943,000 | 40,708,000 | 61,125,000 | 78,103,000 | 53,851,000 | 47,241,000 | 75,362,000 | 80,991,000 | 54,264,000 | 9,273,000 | 75,208,000 | 83,574,000 | 46,332,000 | 53,029,000 | 23,843,000 | 64,638,000 | 43,752,000 | -8,827,000 | 56,408,000 | 52,164,000 | 36,287,000 | 29,134,000 | 42,055,000 | 51,683,000 | -90,547,000 | 16,327,000 | 20,817,000 | 26,113,000 | 19,487,000 | 15,213,000 | 19,636,000 | 22,612,000 | 17,968,000 | 9,935,000 | 16,944,000 | 21,594,000 | 15,484,000 | 963,000 | 6,822,000 | 5,538,000 | 3,865,000 | 5,001,000 | 6,892,000 | 1,633,000 | -150,750 | -492,000 | |
yoy | -5.60% | -0.61% | -6.73% | -9.26% | -28.98% | 28.25% | 1.88% | 12.63% | 45.42% | 122.50% | 1.17% | 2.83% | 49.98% | -37.59% | 57.60% | 107.10% | -218.05% | -185.35% | -314.04% | -165.20% | -314.90% | -180.64% | -136.57% | -176.56% | -75.97% | -13.83% | -18.89% | -3.57% | -0.76% | 409.45% | 0.20% | -3.09% | 17.12% | -82.51% | 215.43% | 29.30% | 5.90% | -700.76% | -57.73% | 23.91% | 20.57% | -130.30% | 34.13% | 0.93% | -140.08% | 78.44% | 102.02% | 97.92% | -564.65% | 7.32% | 6.01% | 15.48% | 8.45% | 53.13% | 15.89% | 4.71% | 16.04% | 931.67% | 148.37% | 289.92% | 300.62% | -80.74% | -1.02% | 239.13% | -3417.41% | -1500.81% | |||||
qoq | -3.19% | -31.59% | -14.56% | 66.84% | 1.92% | -35.80% | -16.88% | 30.58% | 84.05% | -49.00% | -8.11% | 68.60% | 181.60% | -76.81% | -6.61% | 145.91% | 17.18% | -41.44% | 22.73% | -240.17% | -15.27% | 46.84% | -62.61% | -562.02% | -68.21% | -33.40% | -21.74% | 45.04% | 13.99% | -37.31% | -6.95% | 49.25% | 485.18% | -87.67% | -10.01% | 80.38% | -12.63% | 122.41% | -63.11% | 47.74% | -595.66% | -115.65% | 8.14% | 43.75% | 24.55% | -30.72% | -18.63% | -157.08% | -654.58% | -21.57% | -20.28% | 34.00% | 28.09% | -22.52% | -13.16% | 25.85% | 80.86% | -41.37% | -21.53% | 39.46% | 1507.89% | -85.88% | 23.19% | 43.29% | -22.72% | -27.44% | 322.05% | -69.36% | |||
operating margin % | 14.22% | 15.19% | 19.39% | 22.08% | 15.52% | 14.98% | 20.52% | 23.97% | 21.73% | 12.45% | 21.30% | 22.96% | 15.81% | 5.85% | 22.10% | 23.91% | 12.61% | 11.18% | 17.26% | 15.76% | -17.52% | -24.50% | -15.02% | -73.75% | 5.44% | 14.04% | 18.43% | 22.90% | 17.73% | 16.00% | 22.69% | 23.50% | 18.19% | 3.21% | 23.15% | 25.20% | 15.82% | 18.78% | 8.62% | 25.09% | 19.49% | -4.14% | 23.45% | 22.26% | 17.25% | 14.40% | 18.14% | 22.22% | -65.98% | 17.99% | 20.77% | 24.97% | 21.09% | 17.54% | 20.97% | 23.28% | 20.40% | 12.67% | 19.78% | 24.06% | 20.01% | 1.62% | 13.89% | 13.52% | 12.16% | 17.80% | 25.93% | 8.74% | -83.87% | -68.43% | |
interest and other expense | -20,072,000 | -19,746,000 | -21,375,000 | -20,963,000 | -19,397,000 | -19,852,000 | -21,217,000 | -19,370,000 | -17,309,000 | -17,884,000 | -17,470,000 | -17,499,000 | -16,004,000 | -11,196,250 | -14,933,000 | -15,198,000 | -14,654,000 | -14,640,000 | -15,977,000 | -18,618,000 | -18,513,000 | -18,352,000 | -18,531,000 | -18,386,000 | -15,566,000 | -15,081,000 | -14,759,000 | -15,857,000 | -15,494,000 | -12,916,000 | -13,140,000 | -13,210,000 | -11,919,000 | -11,753,000 | -12,024,000 | -11,849,000 | -11,717,000 | -11,507,000 | -10,156,000 | -9,560,000 | -8,803,000 | -8,867,000 | -9,302,000 | -7,226,000 | -7,737,000 | ||||||||||||||||||||||||||
income before income taxes | 27,941,000 | 29,851,000 | 51,122,000 | 63,888,000 | 31,462,000 | 30,051,000 | 56,509,000 | 74,145,000 | 54,306,000 | 21,026,000 | 58,825,000 | 65,530,000 | 33,243,000 | 2,540,000 | 60,477,000 | 65,547,000 | 18,181,000 | 13,380,000 | 31,873,000 | 20,370,000 | -46,327,000 | -51,180,000 | -40,887,000 | -78,185,000 | -2,623,000 | 25,627,000 | 46,366,000 | 62,246,000 | 38,357,000 | 34,325,000 | 62,222,000 | 67,781,000 | 42,345,000 | -2,168,000 | 63,027,000 | 87,865,000 | 34,615,000 | 41,369,000 | 13,687,000 | 55,078,000 | 34,949,000 | -17,766,000 | 47,106,000 | 44,667,000 | 44,179,000 | 22,808,000 | 35,715,000 | 44,350,000 | -94,071,000 | 23,622,000 | 18,530,000 | 23,884,000 | 17,302,000 | ||||||||||||||||||
income tax expense | -242,000 | -236,000 | -242,000 | -240,000 | -241,000 | -234,000 | -243,000 | -214,000 | -256,000 | -261,000 | -313,000 | -241,000 | -320,000 | -228,000 | -1,331,000 | -202,000 | -179,000 | -159,000 | -114,000 | -87,000 | -108,000 | -67,000 | -61,000 | -58,000 | -146,000 | -174,000 | -143,000 | -156,000 | -206,000 | -173,000 | -100,000 | -151,000 | -163,000 | -259,000 | -250,000 | -360,000 | -263,000 | -26,000 | -138,000 | -422,000 | -312,000 | -474,000 | -553,000 | -551,000 | -391,000 | -312,000 | -365,000 | -349,000 | -396,000 | ||||||||||||||||||||||
net income | 27,699,000 | 29,615,000 | 50,880,000 | 63,648,000 | 31,221,000 | 29,817,000 | 56,266,000 | 73,931,000 | 54,050,000 | 20,765,000 | 58,512,000 | 65,289,000 | 32,923,000 | 2,312,000 | 59,146,000 | 65,345,000 | 18,002,000 | 13,221,000 | 31,759,000 | 20,283,000 | -46,435,000 | -51,247,000 | -40,948,000 | -78,243,000 | -2,769,000 | 25,453,000 | 46,223,000 | 62,090,000 | 38,151,000 | 34,152,000 | 62,122,000 | 67,630,000 | 42,182,000 | -2,303,000 | 62,824,000 | 87,606,000 | 34,365,000 | 41,554,000 | 13,694,000 | 54,718,000 | 34,686,000 | -17,792,000 | 46,968,000 | 44,245,000 | 43,867,000 | 22,334,000 | 35,162,000 | 43,799,000 | -94,462,000 | 56,616,000 | 18,165,000 | 23,535,000 | 16,906,000 | 13,132,000 | 17,927,000 | 22,558,000 | 21,859,000 | 13,881,000 | 20,762,000 | 20,396,000 | 14,949,000 | 599,000 | 6,559,000 | 5,318,000 | 3,781,000 | 4,699,000 | 6,347,000 | 1,550,000 | 315,500 | 988,000 | |
yoy | -11.28% | -0.68% | -9.57% | -13.91% | -42.24% | 43.59% | -3.84% | 13.24% | 64.17% | 798.14% | -1.07% | -0.09% | 82.89% | -82.51% | 86.23% | 222.17% | -138.77% | -125.80% | -177.56% | -125.92% | 1576.96% | -301.34% | -188.59% | -226.02% | -107.26% | -25.47% | -25.59% | -8.19% | -9.56% | -1582.94% | -1.12% | -22.80% | 22.75% | -105.54% | 358.77% | 60.10% | -0.93% | -333.55% | -70.84% | 23.67% | -20.93% | -179.66% | 33.58% | 1.02% | -146.44% | -60.55% | 93.57% | 86.10% | -658.75% | 331.13% | 1.33% | 4.33% | -22.66% | -5.40% | -13.65% | 10.60% | 46.22% | 2217.36% | 216.54% | 283.53% | 295.37% | -87.25% | 3.34% | 243.10% | 1389.38% | 542.41% | |||||
qoq | -6.47% | -41.79% | -20.06% | 103.86% | 4.71% | -47.01% | -23.89% | 36.78% | 160.29% | -64.51% | -10.38% | 98.31% | 1324.01% | -96.09% | -9.49% | 262.99% | 36.16% | -58.37% | 56.58% | -143.68% | -9.39% | 25.15% | -47.67% | 2725.68% | -110.88% | -44.93% | -25.55% | 62.75% | 11.71% | -45.02% | -8.14% | 60.33% | -1931.61% | -103.67% | -28.29% | 154.93% | -17.30% | 203.45% | -74.97% | 57.75% | -294.95% | -137.88% | 6.15% | 0.86% | 96.41% | -36.48% | -19.72% | -146.37% | -266.85% | 211.68% | -22.82% | 39.21% | 28.74% | -26.75% | -20.53% | 3.20% | 57.47% | -33.14% | 1.79% | 36.44% | 2395.66% | -90.87% | 23.34% | 40.65% | -19.54% | -25.97% | 309.48% | -68.07% | |||
net income margin % | 8.20% | 9.07% | 13.61% | 16.56% | 9.53% | 8.95% | 14.85% | 18.95% | 16.40% | 6.65% | 16.33% | 18.05% | 10.57% | 0.77% | 17.34% | 19.35% | 6.91% | 5.28% | 11.46% | 8.20% | -29.26% | -38.25% | -27.51% | -96.50% | -1.16% | 8.78% | 13.93% | 18.20% | 12.56% | 11.57% | 18.70% | 19.62% | 14.14% | -0.80% | 19.33% | 26.41% | 11.73% | 14.71% | 4.95% | 21.24% | 15.45% | -8.35% | 19.52% | 18.88% | 20.85% | 11.04% | 15.16% | 18.83% | -68.83% | 62.37% | 18.12% | 22.51% | 18.30% | 15.14% | 19.14% | 23.23% | 24.81% | 17.70% | 24.24% | 22.73% | 19.32% | 1.01% | 13.35% | 12.98% | 11.90% | 16.72% | 23.88% | 8.30% | 175.52% | 137.41% | |
other comprehensive income: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest rate derivatives | 2,831,000 | -593,000 | -1,386,000 | -4,323,000 | -7,034,000 | 10,795,000 | -16,588,000 | -2,732,000 | 3,708,000 | -17,007,000 | 1,412,000 | 7,224,000 | -8,106,000 | -1,473,000 | 16,024,000 | 10,619,000 | 27,219,000 | 9,142,000 | 3,426,000 | -1,356,000 | 16,082,000 | 5,518,000 | 2,739,000 | -4,195,000 | -42,166,000 | 5,653,000 | -4,193,000 | -10,120,000 | -6,044,000 | -9,461,000 | 1,657,000 | 1,740,000 | 6,292,000 | 4,560,000 | 259,000 | -1,175,000 | 1,545,000 | ||||||||||||||||||||||||||||||||||
comprehensive income | 30,530,000 | 29,022,000 | 49,494,000 | 59,325,000 | 24,187,000 | 40,612,000 | 39,678,000 | 71,199,000 | 57,758,000 | 3,758,000 | 59,924,000 | 72,513,000 | 24,817,000 | 839,000 | 75,170,000 | 75,964,000 | 45,221,000 | 22,363,000 | 35,185,000 | 18,927,000 | -45,729,000 | -38,209,000 | -82,438,000 | -44,935,000 | 31,106,000 | 42,030,000 | 51,970,000 | 32,107,000 | 24,691,000 | 63,779,000 | 69,370,000 | 48,474,000 | 2,257,000 | 63,083,000 | 86,431,000 | 35,910,000 | 56,134,000 | 17,955,000 | 49,217,000 | 27,992,000 | -13,686,000 | 40,990,000 | 44,845,000 | 43,593,000 | 21,512,000 | 35,919,000 | 42,885,000 | -93,994,000 | |||||||||||||||||||||||
basic and diluted net income per common share | 120 | 130 | 210 | 270 | 130 | 130 | 230 | 310 | 220 | 90 | 260 | 290 | 140 | 10 | 260 | 290 | 80 | 60 | 140 | 90 | -220 | -180 | -350 | -10 | 120 | 210 | 280 | 170 | 150 | 270 | 290 | 180 | -10 | 280 | 390 | 150 | 190 | 70 | 310 | 200 | 185 | 270 | 240 | 120 | -12.5 | 90 | 120 | -380 | 110 | 80 | -10 | 50 | 40 | 40 | 60 | 110 | 30 | ||||||||||||||
weighted-average common shares outstanding - basic and diluted | 236,112,000 | 237,789,000 | 237,072,000 | 237,659,000 | 240,067,000 | 241,258,000 | 240,500,000 | 242,174,000 | 242,408,000 | 229,329,000 | 228,877,000 | 229,041,000 | 229,398,000 | 228,946,000 | 228,991,000 | 228,998,000 | 228,986,000 | 226,361,000 | 228,436,000 | 224,772,000 | 223,733,000 | 223,544,000 | 223,293,000 | 223,278,000 | 224,294,000 | 223,910,000 | 223,901,000 | 223,899,000 | 223,932,000 | 229,659,000 | 230,351,000 | 230,342,000 | 230,515,000 | 223,526,000 | 223,057,000 | 223,052,000 | 223,047,000 | 190,856,000 | 190,563,000 | 174,667,000 | 174,666,000 | 180,261,000 | 175,069,000 | 185,351,000 | 372,892,000 | 342,977,000 | 373,821,000 | 373,889,000 | 248,665,000 | 182,616,000 | 182,784,000 | 182,496,000 | 182,395,000 | 182,222,000 | 182,130,000 | 182,110,000 | 182,361,000 | 182,769,000 | 182,621,000 | 181,609,000 | 144,264,000 | 122,696,000 | 72,310,000 | 58,320,000 | 45,554,000 | 22,580,000 | |||||
impairment of depreciable real estate | 5,724,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other comprehensive loss: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss on impairment of depreciable real estate assets | 724,000 | 2,896,000 | 10,754,000 | 715,000 | 4,382,000 | 6,467,000 | 3,135,000 | 38,000,000 | 7,875,000 | 5,471,000 | 2,388,000 | 8,600,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
comprehensive loss | -30,353,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic and diluted net loss per common share | -210 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
operating ground lease | 405,000 | 425,000 | 423,000 | 405,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ground lease | 2,784,000 | 2,818,000 | 2,912,000 | 2,850,000 | 2,827,000 | 2,831,000 | 2,839,000 | 2,816,000 | 2,822,000 | 2,615,000 | 2,506,000 | 2,466,000 | 2,492,000 | 2,496,000 | 2,507,000 | 2,501,000 | 2,491,000 | 2,489,000 | 2,489,000 | 872,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
transaction and litigation costs | -2,586,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
depreciation | 46,730,000 | 46,169,000 | 45,743,000 | 44,840,000 | 44,729,000 | 44,110,000 | 43,893,000 | 43,767,000 | 43,512,000 | 37,343,000 | 33,824,000 | 33,484,000 | 33,244,000 | 32,351,000 | 31,135,000 | 30,719,000 | 31,704,000 | 31,095,000 | 30,754,000 | 19,559,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
total expenses | 191,170,750 | 256,835,000 | 263,723,000 | 244,125,000 | 279,794,000 | 249,718,000 | 248,130,000 | 246,593,000 | 229,402,000 | 252,628,000 | 192,998,000 | 180,735,000 | 221,860,000 | 184,147,000 | 182,210,000 | 174,065,000 | 173,189,000 | 189,829,000 | 180,885,000 | 227,783,000 | 74,452,000 | 79,420,000 | 78,459,000 | 72,916,000 | 71,519,000 | 74,017,000 | 74,498,000 | 70,123,000 | 68,467,000 | 68,724,000 | 68,140,000 | 61,897,000 | 58,629,000 | 42,303,000 | 35,432,000 | 27,908,000 | 23,100,000 | 19,692,000 | 17,050,000 | -1,307,000 | 1,211,000 | ||||||||||||||||||||||||||||||
income tax benefit | -178,000 | -203,000 | -154,000 | 7,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
transaction costs | 9,465,250 | 36,452,000 | 1,116,000 | 293,000 | 549,000 | 707,000 | 1,776,000 | 2,110,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
unrealized gain on interest rate derivatives | -1,983,500 | 4,261,000 | -1,609,250 | -5,978,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow hedge losses reclassified to earnings | 785,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
unrealized loss on interest rate derivatives | -5,501,000 | -6,694,000 | -185,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
transaction and listing costs | -710,000 | 842,000 | 5,825,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series b convertible preferred share expense | 117,133,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
transaction and potential listing costs | 1,224,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
unrealized gain on interest rate derivative | -274,000 | 77,750 | 757,000 | 468,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest expense | -4,299,250 | -6,340,000 | -7,333,000 | -3,524,000 | -1,745,000 | -2,287,000 | -2,229,000 | -2,185,000 | -2,081,000 | -1,709,000 | -1,579,000 | -1,376,000 | -1,328,000 | -1,310,000 | -1,198,000 | -535,000 | -141,750 | -263,000 | -220,000 | -83,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
unrealized loss on interest rate derivative | -914,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
room revenue | 82,014,000 | 91,936,000 | 95,115,000 | 84,273,000 | 78,110,000 | 85,900,000 | 88,047,000 | 79,553,000 | 70,618,000 | 78,302,000 | 77,069,000 | 65,869,000 | 48,615,000 | 40,028,000 | 32,252,000 | 24,093,000 | 20,420,000 | 19,195,000 | 16,637,000 | 152,250 | 609,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
other revenue | 8,765,000 | 8,301,000 | 9,457,000 | 8,130,000 | 8,622,000 | 7,753,000 | 9,063,000 | 8,538,000 | 7,784,000 | 7,366,000 | 7,323,000 | 6,169,000 | 5,635,000 | 3,754,000 | 3,375,000 | 2,383,000 | 2,242,000 | 2,313,000 | 2,046,000 | 27,500 | 110,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
operating expense | 24,795,000 | 25,800,000 | 25,821,000 | 23,697,000 | 23,290,000 | 24,162,000 | 24,239,000 | 22,412,000 | 21,197,000 | 21,992,000 | 21,120,000 | 18,205,000 | 15,553,000 | 11,845,000 | 9,726,000 | 7,589,000 | 6,385,000 | 5,512,000 | 4,854,000 | 62,500 | 250,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
hotel administrative expense | 7,285,000 | 7,218,000 | 7,220,000 | 6,849,000 | 6,851,000 | 6,616,000 | 6,956,000 | 6,625,000 | 6,460,000 | 6,500,000 | 6,355,000 | 5,658,000 | 4,581,000 | 3,215,000 | 2,708,000 | 2,184,000 | 1,920,000 | 1,619,000 | 1,408,000 | 17,000 | 68,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
acquisition related costs | 74,000 | 3,000 | 430,000 | 31,000 | 852,000 | 75,000 | 1,733,000 | 2,615,000 | 9,253,000 | 4,626,000 | 3,349,000 | 2,151,000 | 2,405,000 | 1,435,000 | 1,028,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
merger transaction costs | 1,135,000 | 1,908,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
depreciation expense | 13,962,000 | 13,732,000 | 13,633,000 | 13,500,000 | 13,410,000 | 13,329,000 | 13,166,000 | 12,843,000 | 12,628,000 | 12,311,000 | 12,778,000 | 11,898,000 | 10,266,000 | 7,934,000 | 6,851,000 | 5,698,000 | 4,004,000 | 3,122,000 | 2,652,000 | 66,750 | 267,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
income from continuing operations | 23,310,000 | 18,165,000 | 23,535,000 | 16,906,000 | 13,132,000 | 17,927,000 | 21,033,000 | 16,592,000 | 8,607,000 | 15,634,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income from discontinued operations | 1,525,000 | 5,267,000 | 5,274,000 | 5,128,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
from continuing operations | 130 | 100 | 130 | 90 | 70 | 100 | 110 | 90 | 40 | 80 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
from discontinued operations | 10 | 30 | 30 | 30 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total basic and diluted net income per common share | 310 | 100 | 130 | 90 | 70 | 100 | 120 | 120 | 70 | 110 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
taxes, insurance and other | 5,143,000 | 5,464,000 | 5,370,000 | 5,173,000 | 5,229,000 | 5,204,000 | 4,515,000 | 4,560,000 | 3,663,000 | 2,246,000 | 2,341,000 | 2,130,000 | 1,498,000 | 1,686,000 | 1,345,000 | 5,000 | 20,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
total hotel revenue | 84,392,000 | 72,038,000 | 54,250,000 | 43,782,000 | 35,627,000 | 26,476,000 | 22,662,000 | 21,508,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
rental revenue | 5,342,000 | 5,343,000 | 5,342,000 | 5,343,000 | 5,343,000 | 5,297,000 | 5,439,000 | 5,076,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
distributions declared and paid per common share | 220 | 220 | 220 | 220 | 220 | 72.5 | 220 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
weighted average common shares outstanding - basic and diluted | 104,768,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest income (expense) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest income | -545,000 | 466,250 | 1,480,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic and diluted earnings per common share | 32.5 | 40 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-12-31 | 2014-09-30 | 2014-06-30 | 2014-03-31 | 2013-12-31 | 2013-09-30 | 2013-06-30 | 2013-03-31 | 2012-12-31 | 2012-09-30 | 2012-06-30 | 2012-03-31 | 2011-12-31 | 2011-09-30 | 2011-06-30 | 2011-03-31 | 2010-12-31 | 2010-09-30 | 2010-06-30 | 2010-03-31 | 2009-09-30 | 2009-06-30 | 2009-03-31 | 2008-12-31 | 2008-09-30 | 2008-06-30 | 2008-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 2,012,971 and 1,972,264, respectively | 4,757,452,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
assets held for sale | 8,346,000 | 30,584,000 | 11,196,000 | 11,190,000 | 17,015,000 | 2,950,000 | 15,283,000 | 208,026,000 | 5,172,000 | 5,316,000 | 12,093,000 | 6,574,000 | 9,800,000 | 40,626,000 | 39,000,000 | 39,000,000 | 195,588,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents | 7,837,000 | 8,515,000 | 50,290,000 | 7,896,000 | 14,917,000 | 10,253,000 | 6,147,000 | 7,224,000 | 4,942,000 | 10,287,000 | 35,366,000 | 6,420,000 | 6,093,000 | 4,077,000 | 25,573,000 | 1,598,000 | 636,000 | 3,282,000 | 39,432,000 | 2,899,000 | 5,776,000 | 5,556,000 | 27,435,000 | 156,461,000 | 437,260,000 | 21,614,000 | 105,000 | 46,905,000 | 805,000 | 18,102,000 | 9,027,000 | 19,513,000 | 7,388,000 | 2,844,000 | 30,733,000 | 61,402,000 | 67,691,000 | 117,580,000 | 224,108,000 | 411,473,000 | 358,261,000 | 319,827,000 | 114,934,000 | 88,355,000 | 155,767,000 | 75,193,000 | 196,030,000 | |||||||||||||||||||||||||
restricted cash-furniture, fixtures and other escrows | 12,944,000 | 30,903,000 | 35,065,000 | 33,927,000 | 35,185,000 | 33,814,000 | 32,570,000 | 31,295,000 | 29,638,000 | 33,331,000 | 33,697,000 | 31,755,000 | 32,686,000 | 39,435,000 | 38,821,000 | 45,650,000 | 40,568,000 | 36,667,000 | 34,446,000 | 31,215,000 | 30,149,000 | 28,812,000 | 28,184,000 | 27,713,000 | 33,335,000 | 34,661,000 | 35,287,000 | 33,199,000 | 32,269,000 | 33,632,000 | 34,488,000 | 32,279,000 | 31,438,000 | 29,791,000 | 30,299,000 | 28,244,000 | 27,309,000 | 29,425,000 | 31,953,000 | 20,729,000 | 20,806,000 | 22,651,000 | 25,700,000 | 26,657,000 | 30,694,000 | 32,526,000 | 37,118,000 | 35,975,000 | 37,017,000 | 9,416,000 | 10,360,000 | 9,806,000 | 8,973,000 | |||||||||||||||||||
due from third-party managers | 64,622,000 | 52,830,000 | 64,445,000 | 58,980,000 | 57,394,000 | 62,894,000 | 63,048,000 | 60,801,000 | 67,474,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other assets | 43,024,000 | 41,944,000 | 46,984,000 | 46,897,000 | 46,770,000 | 53,568,000 | 49,659,000 | 62,109,000 | 63,394,000 | 64,586,000 | 85,391,000 | 81,539,000 | 67,855,000 | 74,909,000 | 80,999,000 | 59,931,000 | 49,335,000 | 33,341,000 | 37,203,000 | 36,084,000 | 33,589,000 | 35,042,000 | 36,887,000 | 37,068,000 | 37,040,000 | 42,993,000 | 44,220,000 | 45,323,000 | 49,257,000 | 49,539,000 | 60,921,000 | 56,929,000 | 54,917,000 | 47,931,000 | 48,018,000 | 47,771,000 | 47,419,000 | 56,509,000 | 41,551,000 | 34,335,000 | 31,945,000 | 33,614,000 | 42,770,000 | 42,278,000 | 35,398,000 | 35,935,000 | 43,486,000 | 44,670,000 | 48,667,000 | 9,844,000 | 9,802,000 | 10,369,000 | 9,874,000 | 19,970,000 | 21,325,000 | 21,544,000 | 22,062,000 | 21,355,000 | 43,126,000 | 42,922,000 | 47,101,000 | 40,931,000 | 39,720,000 | 22,934,000 | 22,082,000 | 17,557,000 | 17,107,000 | 11,250,000 | 8,228,000 | 3,449,000 | 242,000 | |
total assets | 4,894,225,000 | 4,902,178,000 | 4,913,520,000 | 4,929,092,000 | 4,948,178,000 | 4,969,920,000 | 5,021,803,000 | 5,075,400,000 | 5,032,498,000 | 4,937,298,000 | 4,764,042,000 | 4,767,305,000 | 4,761,251,000 | 4,772,714,000 | 4,777,503,000 | 4,776,852,000 | 4,791,117,000 | 4,790,527,000 | 4,704,827,000 | 4,792,386,000 | 4,825,932,000 | 4,829,759,000 | 4,916,420,000 | 5,022,199,000 | 5,306,370,000 | 4,942,411,000 | 4,990,427,000 | 4,988,839,000 | 5,024,387,000 | 4,928,672,000 | 4,968,458,000 | 5,018,884,000 | 4,973,371,000 | 4,902,338,000 | 4,913,887,000 | 4,904,574,000 | 4,974,923,000 | 4,979,883,000 | 5,018,693,000 | 3,725,466,000 | 3,723,074,000 | 3,722,775,000 | 3,758,493,000 | 3,610,395,000 | 3,634,373,000 | 3,779,749,000 | 3,807,198,000 | 3,831,390,000 | 3,845,630,000 | 1,491,281,000 | 1,496,716,000 | 1,509,164,000 | 1,510,507,000 | 1,526,017,000 | 1,553,916,000 | 1,552,282,000 | 1,676,113,000 | 1,700,967,000 | 1,730,381,000 | 1,749,092,000 | 1,736,002,000 | 1,745,942,000 | 1,545,084,000 | 1,295,732,000 | 1,121,628,000 | 822,314,000 | 690,278,000 | 543,665,000 | 431,619,000 | 260,452,000 | 162,821,000 | 504,498 |
liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
debt | 1,565,680,000 | 1,538,584,000 | 1,507,948,000 | 1,525,866,000 | 1,535,396,000 | 1,471,452,000 | 1,501,189,000 | 1,536,891,000 | 1,500,698,000 | 1,371,494,000 | 1,373,268,000 | 1,399,444,000 | 1,417,679,000 | 1,366,249,000 | 1,318,319,000 | 1,372,638,000 | 1,433,213,000 | 1,438,758,000 | 1,366,621,000 | 1,396,408,000 | 1,523,032,000 | 1,482,571,000 | 1,508,939,000 | 1,582,168,000 | 1,789,281,000 | 1,320,407,000 | 1,339,912,000 | 1,384,314,000 | 1,405,616,000 | 1,412,242,000 | 1,320,000,000 | |||||||||||||||||||||||||||||||||||||||||
finance lease liabilities | 110,944,000 | 111,094,000 | 111,243,000 | 111,376,000 | 111,481,000 | 111,585,000 | 111,687,000 | 111,776,000 | 111,837,000 | 111,892,000 | 111,943,000 | 111,981,000 | 111,994,000 | 112,006,000 | 111,969,000 | 111,920,000 | 111,848,000 | 111,776,000 | 111,706,000 | 222,081,000 | 221,027,000 | 219,981,000 | 218,935,000 | 219,060,000 | 217,180,000 | 216,627,000 | 215,816,000 | 163,508,000 | 162,818,000 | |||||||||||||||||||||||||||||||||||||||||||
accounts payable and other liabilities | 91,091,000 | 103,905,000 | 104,388,000 | 93,065,000 | 88,481,000 | 121,024,000 | 112,058,000 | 93,763,000 | 85,661,000 | 129,931,000 | 104,920,000 | 87,825,000 | 78,716,000 | 116,064,000 | 94,219,000 | 70,668,000 | 66,949,000 | 92,672,000 | 98,386,000 | 79,574,000 | 80,108,000 | 97,860,000 | 113,542,000 | 108,012,000 | 105,105,000 | 114,364,000 | 107,763,000 | 88,949,000 | 88,926,000 | 107,420,000 | 95,996,000 | 89,471,000 | 89,439,000 | 109,057,000 | 104,467,000 | 88,685,000 | 84,237,000 | 124,856,000 | 133,119,000 | 77,245,000 | 73,426,000 | 77,614,000 | 80,525,000 | 64,492,000 | 43,384,000 | 55,555,000 | 53,658,000 | 43,865,000 | 38,137,000 | |||||||||||||||||||||||
total liabilities | 1,767,715,000 | 1,753,583,000 | 1,723,579,000 | 1,730,307,000 | 1,735,358,000 | 1,704,061,000 | 1,724,934,000 | 1,742,430,000 | 1,698,196,000 | 1,613,317,000 | 1,590,131,000 | 1,599,250,000 | 1,608,389,000 | 1,594,319,000 | 1,524,507,000 | 1,555,226,000 | 1,612,010,000 | 1,643,206,000 | 1,576,713,000 | 1,698,063,000 | 1,824,167,000 | 1,800,412,000 | 1,841,416,000 | 1,909,240,000 | 2,111,566,000 | 1,651,398,000 | 1,663,491,000 | 1,636,771,000 | 1,657,360,000 | 1,519,662,000 | 1,415,996,000 | 1,461,647,000 | 1,416,897,000 | 1,331,253,000 | 1,409,938,000 | 1,397,002,000 | 1,487,077,000 | 1,462,819,000 | 1,482,294,000 | 1,099,897,000 | 1,094,468,000 | 1,075,717,000 | 1,044,771,000 | 864,031,000 | 650,400,000 | 765,125,000 | 750,536,000 | 748,344,000 | 742,069,000 | 179,470,000 | 203,722,000 | 196,245,000 | 184,133,000 | 179,884,000 | 184,867,000 | 165,414,000 | 133,340,000 | 137,377,000 | 138,708,000 | 137,224,000 | 116,885,000 | 111,903,000 | 95,582,000 | 64,201,000 | 61,599,000 | 65,412,000 | 62,848,000 | 44,085,000 | 41,879,000 | 312,000 | 51,000 | 493,086 |
shareholders’ equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, authorized 30,000,000 shares; none issued and outstanding | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
common stock | 4,723,977,000 | 4,719,900,000 | 4,733,550,000 | 4,735,003,000 | 4,751,358,000 | 4,771,005,000 | 4,772,759,000 | 4,790,949,000 | 4,805,504,000 | 4,794,804,000 | 4,580,193,000 | 4,579,405,000 | 4,581,841,000 | 4,577,022,000 | 4,579,198,000 | 4,579,590,000 | 4,578,758,000 | 4,569,352,000 | 4,570,217,000 | 4,569,332,000 | 4,493,422,000 | 4,488,419,000 | 4,488,288,000 | 4,488,034,000 | 4,487,441,000 | 4,493,763,000 | 4,493,598,000 | 4,493,598,000 | 4,493,362,000 | 4,495,073,000 | 4,595,207,000 | 4,594,700,000 | 4,594,247,000 | 4,588,188,000 | 4,455,390,000 | 4,455,191,000 | 4,454,992,000 | 4,453,205,000 | 4,461,589,000 | 3,506,613,000 | 3,506,514,000 | 3,500,584,000 | 3,501,252,000 | 3,522,428,000 | 3,726,501,000 | 3,737,328,000 | 3,737,328,000 | 3,737,328,000 | 3,739,035,000 | 1,807,377,000 | 1,807,236,000 | 1,807,387,000 | 1,806,514,000 | 1,805,335,000 | 1,803,567,000 | 1,801,535,000 | 1,804,603,000 | 1,807,175,000 | 1,808,981,000 | 1,809,741,000 | 1,797,256,000 | 1,787,213,000 | 1,566,111,000 | 1,323,312,000 | 1,130,369,000 | 793,395,000 | 652,876,000 | 518,748,000 | 400,569,000 | 264,528,000 | 163,359,000 | 110 |
accumulated other comprehensive income | 5,082,000 | 2,251,000 | 2,844,000 | 4,230,000 | 8,553,000 | 15,587,000 | 4,792,000 | 21,380,000 | 24,112,000 | 20,404,000 | 37,411,000 | 35,999,000 | 28,775,000 | 36,881,000 | 38,354,000 | 22,330,000 | 11,711,000 | -4,698,000 | -10,351,000 | -6,158,000 | 3,962,000 | 10,006,000 | 19,467,000 | 17,810,000 | 16,070,000 | 9,778,000 | 5,218,000 | 4,959,000 | 6,134,000 | 4,589,000 | -511,000 | 311,000 | -446,000 | 468,000 | ||||||||||||||||||||||||||||||||||||||
accumulated distributions greater than net income | -1,602,549,000 | -1,573,556,000 | -1,546,453,000 | -1,540,448,000 | -1,547,091,000 | -1,520,733,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total shareholders’ equity | 3,126,510,000 | 3,148,595,000 | 3,189,941,000 | 3,198,785,000 | 3,212,820,000 | 3,265,859,000 | 3,296,869,000 | 3,332,970,000 | 3,334,302,000 | 3,323,981,000 | 3,173,911,000 | 3,168,055,000 | 3,152,862,000 | 3,291,013,000 | 3,409,010,000 | 3,556,474,000 | 3,571,085,000 | 3,487,846,000 | 3,517,064,000 | 3,536,399,000 | 2,647,058,000 | 1,563,590,000 | 1,591,673,000 | 1,611,868,000 | 1,619,117,000 | 1,634,039,000 | 1,449,502,000 | 1,231,531,000 | 1,060,029,000 | 756,902,000 | 260,140,000 | 162,770,000 | 11,412 | |||||||||||||||||||||||||||||||||||||||
total liabilities and shareholders’ equity | 4,894,225,000 | 4,902,178,000 | 4,913,520,000 | 4,929,092,000 | 4,948,178,000 | 4,969,920,000 | 5,021,803,000 | 5,075,400,000 | 5,032,498,000 | 4,937,298,000 | 4,764,042,000 | 4,767,305,000 | 4,761,251,000 | 4,942,411,000 | 4,928,672,000 | 4,973,371,000 | 4,902,338,000 | 4,974,923,000 | 4,979,883,000 | 5,018,693,000 | 3,722,775,000 | 1,700,967,000 | 1,730,381,000 | 1,749,092,000 | 1,736,002,000 | 1,745,942,000 | 1,545,084,000 | 1,295,732,000 | 1,121,628,000 | 822,314,000 | 260,452,000 | 162,821,000 | 504,498 | |||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,972,264 and 1,821,344, respectively | 4,787,864,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
due from third party managers | 32,952,000 | 34,522,000 | 36,437,000 | 71,120,000 | 43,331,000 | 65,110,000 | 66,429,000 | 60,560,000 | 40,052,000 | 52,322,000 | 54,296,000 | 38,766,000 | 22,137,000 | 29,969,000 | 24,925,000 | 22,040,000 | 26,926,000 | 40,473,000 | 52,214,000 | 51,358,000 | 29,091,000 | 47,991,000 | 61,660,000 | 57,240,000 | 31,457,000 | 52,354,000 | 57,676,000 | 57,692,000 | 31,460,000 | 50,973,000 | 45,093,000 | 43,027,000 | 24,743,000 | 38,436,000 | 41,771,000 | 39,337,000 | 22,879,000 | 34,255,000 | 40,667,000 | 37,685,000 | 10,421,000 | 15,855,000 | 18,607,000 | 17,733,000 | 10,751,000 | 15,121,000 | 17,715,000 | 18,738,000 | 9,605,000 | 13,968,000 | 16,318,000 | 15,707,000 | 8,260,000 | 7,096,000 | 6,927,000 | 5,249,000 | 3,203,000 | 3,774,000 | 3,293,000 | 1,775,000 | 298,000 | |||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,923,741 and 1,821,344, respectively | 4,697,767,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,897,281 and 1,821,344, respectively | 4,764,731,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,849,324 and 1,821,344, respectively | 4,781,136,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,821,344 and 1,662,942, respectively | 4,820,748,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,797,006 and 1,662,942, respectively | 4,873,083,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
distributions greater than net income | -1,480,682,000 | -1,479,359,000 | -1,495,314,000 | -1,491,227,000 | -1,443,693,000 | -1,447,349,000 | -1,457,754,000 | -1,435,508,000 | -1,364,556,000 | -1,380,294,000 | -1,411,362,000 | -1,406,523,000 | -1,417,453,000 | -1,446,933,000 | -1,464,937,000 | -1,416,270,000 | -1,364,964,000 | -1,324,016,000 | -1,245,773,000 | -1,198,052,000 | -1,156,311,000 | -1,135,372,000 | -1,130,297,000 | -1,096,069,000 | -1,062,212,000 | -1,055,273,000 | -1,053,843,000 | -1,026,881,000 | -956,659,000 | -952,578,000 | -973,280,000 | -940,730,000 | -915,199,000 | -866,792,000 | -869,157,000 | -851,469,000 | -781,367,000 | -775,879,000 | -741,743,000 | -722,193,000 | -680,977,000 | -653,836,000 | -635,942,000 | -495,614,000 | -514,290,000 | -494,516,000 | -480,188,000 | -459,250,000 | -434,566,000 | -414,715,000 | -261,878,000 | -243,633,000 | -217,356,000 | -197,921,000 | -178,187,000 | -153,222,000 | -116,657,000 | -91,829,000 | -25,494,000 | -19,216,000 | -10,877,000 | -4,436,000 | -637,000 | |||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,753,584 and 1,662,942, respectively | 4,911,878,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,709,669 and 1,662,942, respectively | 4,871,476,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,662,942 and 1,492,097, respectively | 4,777,374,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,629,340 and 1,492,097, respectively | 4,548,787,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,583,846 and 1,492,097, respectively | 4,580,117,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,537,998 and 1,492,097, respectively | 4,583,497,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,492,097 and 1,311,262, respectively | 4,610,962,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
shareholders' equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total shareholders' equity | 3,178,395,000 | 3,252,996,000 | 3,221,626,000 | 3,179,107,000 | 3,147,321,000 | 3,128,114,000 | 3,094,323,000 | 3,001,765,000 | 3,029,347,000 | 3,075,004,000 | 3,112,959,000 | 3,194,804,000 | 3,326,936,000 | 3,352,068,000 | 3,367,027,000 | 3,552,462,000 | 3,557,237,000 | 3,503,949,000 | 3,507,572,000 | 2,625,569,000 | 2,628,606,000 | 2,713,722,000 | 2,746,364,000 | 2,983,973,000 | 3,014,624,000 | 3,056,662,000 | 3,083,046,000 | 3,103,561,000 | 1,311,811,000 | 1,292,994,000 | 1,312,919,000 | 1,326,374,000 | 1,346,133,000 | 1,369,049,000 | 1,386,868,000 | 1,542,773,000 | 627,430,000 | 499,580,000 | 389,740,000 | |||||||||||||||||||||||||||||||||
total liabilities and shareholders' equity | 4,772,714,000 | 4,777,503,000 | 4,776,852,000 | 4,791,117,000 | 4,790,527,000 | 4,704,827,000 | 4,792,386,000 | 4,825,932,000 | 4,829,759,000 | 4,916,420,000 | 5,022,199,000 | 5,306,370,000 | 4,990,427,000 | 4,988,839,000 | 5,024,387,000 | 4,968,458,000 | 5,018,884,000 | 4,913,887,000 | 4,904,574,000 | 3,725,466,000 | 3,723,074,000 | 3,758,493,000 | 3,610,395,000 | 3,634,373,000 | 3,779,749,000 | 3,807,198,000 | 3,831,390,000 | 3,845,630,000 | 1,491,281,000 | 1,496,716,000 | 1,509,164,000 | 1,510,507,000 | 1,526,017,000 | 1,553,916,000 | 1,552,282,000 | 1,676,113,000 | 690,278,000 | 543,665,000 | 431,619,000 | |||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,446,221 and 1,311,262, respectively | 4,567,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,401,817 and 1,311,262, respectively | 4,603,244,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,356,580 and 1,311,262, respectively | 4,640,018,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,311,262 and 1,235,698, respectively | 4,677,185,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive loss | -15,508,000 | -24,650,000 | -28,076,000 | -26,720,000 | -42,802,000 | -48,320,000 | -51,059,000 | -46,864,000 | -9,991,000 | -14,252,000 | -8,751,000 | -2,057,000 | -6,163,000 | -185,000 | -785,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,266,122 and 1,235,698, respectively | 4,541,424,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,228,937 and 1,235,698, respectively | 4,459,866,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,275,557 and 1,235,698, respectively | 4,712,480,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,235,698 and 1,054,429, respectively | 4,732,896,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,196,245 and 1,054,429, respectively | 4,793,945,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,146,325 and 1,054,429, respectively | 4,776,032,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,096,718 and 1,054,429, respectively | 4,776,695,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,054,429 and 909,893, respectively | 4,825,738,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 1,016,532 and 909,893, respectively | 4,863,873,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 971,738 and 909,893, respectively | 4,858,103,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation and amortization of 923,877 and 909,893, respectively | 4,891,503,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
room | 279,470,000 | 319,022,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
food and beverage | 15,015,000 | 16,518,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other | 9,302,000 | 9,174,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total revenue | 303,787,000 | 344,714,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
hotel operating expense: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
operating | 75,580,000 | 81,242,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
hotel administrative | 25,630,000 | 26,558,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
sales and marketing | 27,694,000 | 28,168,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
utilities | 9,939,000 | 10,247,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
repair and maintenance | 12,866,000 | 13,476,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
franchise fees | 13,111,000 | 14,781,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
management fees | 10,629,000 | 12,059,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total hotel operating expense | 175,449,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
property taxes, insurance and other | 19,208,000 | 18,681,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
operating ground lease | 405,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
general and administrative | 8,137,000 | 6,721,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
depreciation and amortization | 47,950,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total expense | 251,149,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on sale of real estate | 1,213,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
operating income | 53,851,000 | 80,991,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest and other income | -15,494,000 | -13,210,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income before income taxes | 38,357,000 | 67,781,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income tax expense | -206,000 | -151,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income | 38,151,000 | 67,630,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other comprehensive income: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest rate derivatives | -6,044,000 | 1,740,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
comprehensive income | 32,107,000 | 69,370,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic and diluted net income per common share | 170 | 290 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average common shares outstanding - basic and diluted | 223,932,000 | 230,342,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 909,893 and 731,284, respectively | 4,816,410,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 864,719 and 731,284, respectively | 4,825,058,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
apple hospitality reit, inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
consolidated statements of operations and comprehensive income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 818,794 and 731,284, respectively | 4,858,216,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
revolving credit facility | 218,400,000 | 170,700,000 | 106,900,000 | 216,700,000 | 301,300,000 | 366,600,000 | 270,000,000 | 302,100,000 | 155,600,000 | 171,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
term loans | 656,860,000 | 656,569,000 | 656,279,000 | 655,988,000 | 571,461,000 | 571,197,000 | 570,934,000 | 570,670,000 | 470,411,000 | 421,647,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
mortgage debt | 496,916,000 | 500,189,000 | 459,017,000 | 432,783,000 | 435,556,000 | 465,043,000 | 497,029,000 | 476,405,000 | 396,641,000 | 427,495,000 | 461,859,000 | 463,746,000 | 489,739,000 | 507,016,000 | 517,970,000 | 521,878,000 | 527,679,000 | 553,432,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, authorized 30,000,000 shares; none issued and outstanding | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ground lease | 2,912,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
transaction and litigation costs | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss on impairment of depreciable real estate assets | 3,135,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
depreciation | 45,743,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total expenses | 263,723,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 775,894 and 731,284, respectively | 4,829,776,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 731,284 and 557,597, respectively | 4,793,159,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 686,787 and 557,597, respectively | 4,742,590,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 644,718 and 557,597, respectively | 4,770,883,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 601,055 and 557,597, respectively | 4,803,503,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 557,597 and 423,057, respectively | 4,823,489,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 526,973 and 423,057, respectively | 4,894,216,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 489,860 and 423,057, respectively | 3,603,695,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 456,266 and 423,057, respectively | 3,627,296,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 423,057 and 296,559, respectively | 3,641,767,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
credit facility | 536,244,000 | 500,500,000 | 309,800,000 | 100,000,000 | 191,600,000 | 175,000,000 | 176,800,000 | 150,500,000 | 22,000,000 | 17,800,000 | 6,700,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 390,065 and 296,559, respectively | 3,651,482,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 357,947 and 296,559, respectively | 3,499,689,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 327,243 and 296,559, respectively | 3,482,039,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 296,559 and 200,754, respectively | 3,492,821,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock, no par value, authorized 400,000,000 shares; terminated effective march 1, 2014; issued and outstanding 0 and 182,784,131 shares, respectively | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series b convertible preferred stock, no par value, authorized 480,000 shares; terminated effective march 1, 2014 upon conversion into common shares; issued and outstanding 0 and 480,000 shares, respectively | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 281,626 and 200,754, respectively | 3,692,339,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 250,761 and 200,754, respectively | 3,709,273,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 220,237 and 200,754, respectively | 3,722,261,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 200,754 and 145,927, respectively | 1,443,498,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
note receivable | 17,675,000 | 19,250,000 | 20,825,000 | 22,375,000 | 23,622,000 | 25,471,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
notes payable | 162,551,000 | 163,635,000 | 164,682,000 | 165,715,000 | 166,783,000 | 169,526,000 | 152,602,000 | 123,359,000 | 124,124,000 | 124,880,000 | 125,608,000 | 104,407,000 | 99,649,000 | 85,852,000 | 58,059,000 | 58,367,000 | 58,998,000 | 58,750,000 | 42,682,000 | 38,647,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
accounts payable and accrued expenses | 16,919,000 | 18,087,000 | 13,763,000 | 11,718,000 | 13,101,000 | 15,341,000 | 12,812,000 | 9,981,000 | 13,253,000 | 13,828,000 | 11,616,000 | 12,478,000 | 12,254,000 | 9,730,000 | 6,142,000 | 3,232,000 | 6,414,000 | 4,098,000 | 1,403,000 | 3,232,000 | 312,000 | 51,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock, no par value, authorized 400,000,000 shares; issued and outstanding 182,784,131 and 182,619,400 shares, respectively | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series b convertible preferred stock, no par value, authorized 480,000 shares; issued and outstanding 480,000 shares | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 186,792 and 145,927, respectively | 1,443,024,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 173,060 and 145,927, respectively | 1,451,132,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 159,427 and 145,927, respectively | 1,453,102,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock, no par value, authorized 400,000,000 shares; issued and outstanding 182,723,665 and 182,619,400 shares, respectively | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 145,927 and 93,179, respectively | 1,463,894,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
real estate held for sale | 160,084,000 | 158,552,000 | 157,020,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock, no par value, authorized 400,000,000 shares; issued and outstanding 182,619,400 and 182,883,617 shares, respectively | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 132,517 and 93,179, respectively | 1,474,335,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock, no par value, authorized 400,000,000 shares; issued and outstanding 182,474,374 and 182,883,617 shares, respectively | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 119,188 and 93,179, respectively | 1,480,164,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock, no par value, authorized 400,000,000 shares; issued and outstanding 182,305,158 and 182,883,617 shares, respectively | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 106,022 and 93,179, respectively | 1,472,385,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock, no par value, authorized 400,000,000 shares; issued and outstanding 182,597,258 and 182,883,617 shares, respectively | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series b convertible preferred stock, no par value, authorized 480,000 shares; issued and outstanding 480,000 shares, respectively | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 93,179 and 48,962, respectively | 1,480,722,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
straight-line rent receivable | 13,814,000 | 12,268,000 | 10,721,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock, no par value, authorized 400,000,000 shares; issued and outstanding 182,883,617 and 181,272,669 shares, respectively | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 80,550 and 48,962, respectively | 1,454,865,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock, no par value, authorized 400,000,000 shares; issued and outstanding 183,114,246 and 181,272,669 shares, respectively | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 73,638 and 48,962, respectively | 1,608,347,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock, no par value, authorized 400,000,000 shares; issued and outstanding 183,268,472 and 181,272,669 shares, respectively | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 60,860 and 48,962, respectively | 1,543,346,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock, no par value, authorized 400,000,000 shares; issued and outstanding 182,172,059 and 181,272,669 shares, respectively | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 48,962 and 18,213, respectively | 1,461,922,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock, no par value, authorized 400,000,000 shares; issued and outstanding 181,272,669 and 98,509,650 shares, respectively | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 38,696 and 18,213, respectively | 1,086,795,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock, no par value, authorized 400,000,000 shares; issued and outstanding 158,905,339 and 98,509,650 shares, respectively | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 30,762 and 18,213, respectively | 907,610,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock, no par value, authorized 400,000,000 shares; issued and outstanding 134,356,683 and 98,509,650 shares, respectively | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 23,911 and 18,213, respectively | 774,470,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock, no par value, authorized 400,000,000 shares; issued and outstanding 114,848,474 and 98,509,650 shares, respectively | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 12,055 and 2,277, respectively | 686,620,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock, no par value, authorized 400,000,000 shares; issued and outstanding 80,754,695 and 41,013,517 shares, respectively | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 8,051 and 2,277, respectively | 581,042,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock, no par value, authorized 400,000,000 shares; issued and outstanding 66,532,607 and 41,013,517 shares, respectively | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 4,929 and 2,277, respectively | 373,355,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock, no par value, authorized 400,000,000 shares; issued and outstanding 52,970,136 and 41,013,517 shares, respectively | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 2,277 and -, respectively | 346,423,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock, no par value, authorized 400,000,000 shares; issued and outstanding 41,013,517 and 10 shares, respectively | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate, net of accumulated depreciation of 267 and - | 60,675,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
liabilities and shareholders’ equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
note payable | 200,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock, no par value, authorized 400,000,000 shares; issued and outstanding 27,232,724 and 10 shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash | 162,579,000 | 9,618 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock, no par value, authorized 400,000,000 shares; issued and outstanding 17,004,557 and 10 shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
prepaid offering costs | 494,880 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accrued expenses | 292,586 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock, no par value, authorized 400,000,000 shares; issued and outstanding 10 shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
retained deficit | -36,698 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-12-31 | 2014-09-30 | 2014-06-30 | 2014-03-31 | 2013-12-31 | 2013-09-30 | 2013-06-30 | 2013-03-31 | 2012-12-31 | 2012-09-30 | 2012-06-30 | 2012-03-31 | 2011-12-31 | 2011-09-30 | 2011-06-30 | 2011-03-31 | 2010-12-31 | 2010-09-30 | 2010-06-30 | 2010-03-31 | 2009-09-30 | 2009-06-30 | 2009-03-31 | 2008-11-09 | 2008-09-30 | 2008-06-30 | 2008-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income | 27,699,000 | 50,880,000 | 63,648,000 | 31,221,000 | 29,817,000 | 56,266,000 | 73,931,000 | 54,050,000 | 20,765,000 | 58,512,000 | 65,289,000 | 32,923,000 | 2,312,000 | 59,146,000 | 65,345,000 | 18,002,000 | 13,221,000 | -51,247,000 | -40,948,000 | -78,243,000 | -2,769,000 | 25,453,000 | 46,223,000 | 62,090,000 | 38,151,000 | 34,152,000 | 62,122,000 | 67,630,000 | 42,182,000 | -2,303,000 | 62,824,000 | 87,606,000 | 34,365,000 | 41,554,000 | 13,694,000 | 54,718,000 | 34,686,000 | -17,792,000 | 46,968,000 | 44,245,000 | 43,867,000 | 22,334,000 | 35,162,000 | 43,799,000 | -94,462,000 | 56,616,000 | 18,165,000 | 23,535,000 | 16,906,000 | 13,132,000 | 17,927,000 | 22,558,000 | 21,859,000 | 13,881,000 | 20,762,000 | 20,396,000 | 14,949,000 | 599,000 | 6,559,000 | 5,318,000 | 3,781,000 | 4,699,000 | 6,347,000 | 1,550,000 | 890,000 | 988,000 | 293,852 | -19,852 | |||
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
depreciation and amortization | 49,537,000 | 48,100,000 | 48,022,000 | 47,941,000 | 47,922,000 | 48,143,000 | 47,715,000 | 46,823,000 | 45,844,000 | 45,498,000 | 45,994,000 | 45,906,000 | 45,916,000 | 45,135,000 | 45,322,000 | 45,324,000 | 45,158,000 | 44,217,000 | 46,386,000 | 48,710,000 | 50,196,000 | 50,171,000 | 49,897,000 | 49,522,000 | 49,294,000 | 47,887,000 | 48,109,000 | 47,950,000 | |||||||||||||||||||||||||||||||||||||||||||
gain on sale of real estate | -4,380,000 | 0 | -3,557,000 | -1,529,000 | 0 | -449,000 | -17,766,000 | 0 | 68,000 | -44,000 | 864,000 | -4,484,000 | -2,069,000 | 0 | 54,000 | -8,839,000 | -3,969,000 | 0 | 161,000 | -1,213,000 | 157,000 | 72,000 | 0 | 271,000 | -15,629,000 | ||||||||||||||||||||||||||||||||||||||||||||||
other non-cash expenses | 1,704,000 | 1,742,000 | 1,683,000 | 1,707,000 | 2,071,000 | 2,060,000 | 2,136,000 | 2,094,000 | 2,097,000 | 2,445,000 | 2,153,000 | 2,013,000 | 2,071,000 | 2,254,000 | 2,154,000 | 2,174,000 | 2,076,000 | 2,715,000 | 2,809,000 | 2,684,000 | 2,804,000 | 1,253,000 | 3,029,000 | 1,773,000 | 1,605,000 | 277,000 | 1,452,000 | 1,186,000 | 1,982,000 | 1,997,000 | 2,001,000 | 1,992,000 | 1,748,000 | 1,755,000 | 1,768,000 | 1,849,000 | 1,941,000 | 1,573,000 | 1,658,000 | 1,575,000 | 1,017,000 | 1,010,000 | 1,469,000 | 2,519,000 | -107,000 | 1,017,000 | 223,000 | ||||||||||||||||||||||||
changes in operating assets and liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in due from third-party managers | -31,670,000 | 11,615,000 | -5,477,000 | -24,458,000 | 5,499,000 | 166,000 | -27,186,000 | 6,673,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in other assets | -551,000 | 670,000 | 1,314,000 | 2,833,000 | -2,063,000 | -3,308,000 | -884,000 | 1,029,000 | 439,000 | 3,332,000 | -401,000 | -1,218,000 | -2,485,000 | 3,398,000 | 78,000 | -1,938,000 | 10,367,000 | 1,120,000 | -1,190,000 | 625,000 | 1,076,000 | -573,000 | 658,000 | -549,000 | |||||||||||||||||||||||||||||||||||||||||||||||
increase in accounts payable and other liabilities | 2,138,000 | 10,793,000 | -7,421,000 | 11,869,000 | -2,856,000 | 17,290,000 | -5,235,000 | 13,621,000 | 8,257,000 | -2,621,000 | -3,194,000 | 17,068,000 | -2,042,000 | 2,256,000 | -8,749,000 | 630,000 | 2,988,000 | -1,928,000 | -3,713,000 | -3,332,000 | -2,314,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
net cash from operating activities | 48,857,000 | 126,444,000 | 108,796,000 | 49,139,000 | 95,205,000 | 128,190,000 | 127,303,000 | 54,652,000 | 96,880,000 | 131,600,000 | 118,873,000 | 51,691,000 | 95,245,000 | 120,992,000 | 113,146,000 | 39,063,000 | 71,200,000 | 96,589,000 | 51,887,000 | -2,114,000 | 529,000 | 13,650,000 | -20,793,000 | 33,342,000 | 90,156,000 | 127,446,000 | 107,829,000 | 56,243,000 | 107,932,000 | 130,512,000 | 113,505,000 | 52,863,000 | 104,232,000 | 124,200,000 | 119,122,000 | 37,187,000 | 94,063,000 | 101,301,000 | 85,866,000 | 50,804,000 | 75,890,000 | 88,345,000 | 80,559,000 | 36,258,000 | 68,071,000 | 86,143,000 | 75,102,000 | 22,871,000 | 39,424,000 | 37,861,000 | 36,865,000 | 23,296,000 | 29,036,000 | 35,839,000 | 37,489,000 | 20,602,000 | 29,607,000 | 36,085,000 | 32,483,000 | 17,869,000 | 15,253,000 | 11,697,000 | 3,963,000 | 8,908,000 | 8,888,000 | 2,204,000 | -18,766 | ||||
capital expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
free cash flows | 48,857,000 | 126,444,000 | 108,796,000 | 49,139,000 | 95,205,000 | 128,190,000 | 127,303,000 | 54,652,000 | 96,880,000 | 131,600,000 | 118,873,000 | 51,691,000 | 95,245,000 | 120,992,000 | 113,146,000 | 39,063,000 | 71,200,000 | 96,589,000 | 51,887,000 | -2,114,000 | 529,000 | 13,650,000 | -20,793,000 | 33,342,000 | 90,156,000 | 127,446,000 | 107,829,000 | 56,243,000 | 107,932,000 | 130,512,000 | 113,505,000 | 52,863,000 | 104,232,000 | 124,200,000 | 119,122,000 | 37,187,000 | 94,063,000 | 101,301,000 | 85,866,000 | 50,804,000 | 75,890,000 | 88,345,000 | 80,559,000 | 36,258,000 | 68,071,000 | 86,143,000 | 75,102,000 | 22,871,000 | 39,424,000 | 37,861,000 | 36,865,000 | 23,296,000 | 29,036,000 | 35,839,000 | 37,489,000 | 20,602,000 | 29,607,000 | 36,085,000 | 32,483,000 | 17,869,000 | 15,253,000 | 11,697,000 | 3,963,000 | 8,908,000 | 8,888,000 | 2,204,000 | -18,766 | ||||
cash flows from investing activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
disbursements for potential acquisitions | -3,626,000 | 397,000 | -432,000 | -422,000 | 4,602,000 | -4,709,000 | -393,000 | -677,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
capital improvements | -35,775,000 | -17,237,000 | -14,283,000 | -27,289,000 | -20,763,000 | -14,580,000 | -13,698,000 | -31,299,000 | -22,730,000 | -14,251,000 | -11,186,000 | -23,899,000 | -24,455,000 | -9,902,000 | -11,433,000 | -13,586,000 | -9,174,000 | -4,232,000 | -2,400,000 | -2,506,000 | -4,176,000 | -6,087,000 | -11,274,000 | -27,022,000 | -23,288,000 | -12,838,000 | -17,547,000 | -21,223,000 | -21,624,000 | -13,590,000 | -14,407,000 | -24,672,000 | -12,504,000 | -11,405,000 | -17,461,000 | -4,316,000 | -4,515,000 | -4,689,000 | -3,252,000 | -2,469,000 | -2,518,000 | -7,495,000 | -5,779,000 | -2,028,000 | -233,000 | ||||||||||||||||||||||||||
net proceeds from sale of real estate | 15,597,000 | 0 | 20,645,000 | 22,287,000 | 0 | 6,945,000 | 33,111,000 | 0 | 0 | 208,243,000 | 5,178,000 | 17,587,000 | 10,114,000 | 3,000 | -5,000 | 44,387,000 | 26,196,000 | 0 | -114,000 | 95,143,000 | 5,616,000 | 40,937,000 | -157,000 | 1,650,000 | 1,651,000 | 201,853,000 | |||||||||||||||||||||||||||||||||||||||||||||
net cash from investing activities | -35,775,000 | -5,281,000 | -32,742,000 | -7,076,000 | 1,160,000 | -14,644,000 | -85,279,000 | -116,947,000 | -278,536,000 | -18,992,000 | -42,527,000 | -24,576,000 | -107,680,000 | -3,211,000 | -11,433,000 | -13,586,000 | -172,680,000 | 55,858,000 | 427,000 | -34,288,000 | 5,839,000 | -69,507,000 | -35,958,000 | 17,365,000 | -3,809,000 | -13,246,000 | -18,253,000 | 20,984,000 | -31,565,000 | -3,990,000 | -88,115,000 | -86,490,000 | -86,341,000 | -54,295,000 | 15,842,000 | -34,498,000 | -7,189,000 | -128,268,000 | -13,496,000 | -20,884,000 | -40,417,000 | -179,867,000 | -48,884,000 | 186,883,000 | -18,181,000 | -18,697,000 | -12,056,000 | -9,470,000 | 39,876,000 | -3,054,000 | -9,953,000 | -1,423,000 | -492,000 | -4,836,000 | 116,449,000 | -5,170,000 | -17,686,000 | -816,000 | -53,730,000 | -93,853,000 | -172,802,000 | -197,317,000 | -29,689,000 | -251,216,000 | -63,896,000 | ||||||
cash flows from financing activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds (disbursements) related to issuance of common shares | 211,000 | -47,000 | -33,000 | 118,135,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
repurchases of common shares | -2,039,000 | -16,884,000 | -26,306,000 | 0 | -19,176,000 | 0 | -49,000 | -3,274,000 | -3,557,000 | -1,154,000 | -1,376,000 | 0 | 0 | 0 | -14,336,000 | 0 | -239,000 | 0 | -4,096,000 | -100,000,000 | 0 | 0 | -4,304,000 | -7,508,000 | 0 | -849,000 | -21,296,000 | ||||||||||||||||||||||||||||||||||||||||||||
common shares surrendered to satisfy employee withholding requirements | -1,615,000 | 0 | 0 | -3,275,000 | -2,744,000 | 0 | 0 | -5,050,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
distributions paid to common shareholders | -56,608,000 | -56,820,000 | -57,042,000 | -69,615,000 | -57,841,000 | -57,680,000 | -58,045,000 | -70,156,000 | -55,164,000 | -54,837,000 | -54,883,000 | -73,399,000 | -52,675,000 | -38,830,000 | -34,261,000 | -13,701,000 | -2,287,000 | -2,278,000 | -54,000 | 0 | 0 | -67,324,000 | -67,175,000 | -67,154,000 | -67,155,000 | -67,188,000 | -68,627,000 | -69,061,000 | -69,060,000 | -69,144,000 | -67,201,000 | -66,905,000 | -66,903,000 | -66,908,000 | -67,116,000 | -57,227,000 | -52,353,000 | -52,360,000 | -52,313,000 | -52,576,000 | -60,821,000 | -63,417,000 | -175,395,000 | -40,104,000 | -40,158,000 | -40,197,000 | -40,130,000 | -39,914,000 | -31,388,000 | -12,625,000 | -9,889,000 | -7,331,000 | -4,788,000 | ||||||||||||||||||
proceeds from revolving credit facility | 70,100,000 | 0 | 80,500,000 | 92,500,000 | 47,000,000 | 38,000,000 | 142,500,000 | 180,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payments on revolving credit facility | -42,000,000 | -173,000,000 | -55,500,000 | -27,000,000 | -75,000,000 | -96,500,000 | -104,500,000 | -49,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payments of mortgage debt and other loans | -1,602,000 | -2,019,000 | -35,018,000 | -2,034,000 | -2,214,000 | -21,941,000 | -2,279,000 | -2,268,000 | -2,245,000 | -2,211,000 | -2,189,000 | -39,568,000 | -2,588,000 | -34,183,000 | -125,504,000 | -6,556,000 | -4,375,000 | -4,300,000 | -59,031,000 | -3,018,000 | -2,745,000 | -2,353,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
principal payments on finance leases | -205,000 | -187,000 | -158,000 | -156,000 | -155,000 | -138,000 | -112,000 | -110,000 | -109,000 | -95,000 | -69,000 | -67,000 | -65,000 | -53,000 | -28,000 | -27,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash from financing activities | -31,719,000 | -77,631,000 | -84,333,000 | -36,028,000 | -91,015,000 | -113,348,000 | -38,085,000 | 53,257,000 | 156,211,000 | -81,720,000 | -76,950,000 | -31,848,000 | -8,447,000 | -100,635,000 | -95,669,000 | -24,222,000 | 67,551,000 | -112,683,000 | -54,125,000 | 37,959,000 | -27,619,000 | -72,698,000 | -229,670,000 | 385,227,000 | -86,973,000 | -112,112,000 | -88,646,000 | -78,590,000 | -77,223,000 | -124,313,000 | -24,549,000 | 35,274,000 | -17,891,000 | -69,905,000 | -134,964,000 | -2,689,000 | -86,874,000 | 5,353,000 | -50,756,000 | -29,920,000 | -35,578,000 | 91,627,000 | -78,580,000 | -176,236,000 | -49,890,000 | -68,251,000 | -62,241,000 | -31,503,000 | -61,198,000 | -34,807,000 | -26,912,000 | -30,900,000 | -39,030,000 | -18,878,000 | -149,394,000 | -43,321,000 | -42,590,000 | -41,558,000 | -28,642,000 | -30,544,000 | 210,761,000 | 165,828,000 | 138,537,000 | 124,556,000 | 121,017,000 | 108,059,000 | 128,332,000 | 96,381,000 | 162,456,520 | 8,480 | |
net change in cash, cash equivalents and restricted cash | -18,637,000 | 43,532,000 | -8,279,000 | 6,035,000 | 5,350,000 | 198,000 | 3,939,000 | -9,038,000 | -25,445,000 | 30,888,000 | -604,000 | -4,733,000 | -20,882,000 | 17,146,000 | 6,044,000 | 1,255,000 | -33,929,000 | 39,764,000 | -1,811,000 | 1,557,000 | -21,251,000 | -128,555,000 | -286,421,000 | 435,934,000 | -626,000 | 2,088,000 | 930,000 | -1,363,000 | -856,000 | 2,209,000 | 841,000 | 1,647,000 | |||||||||||||||||||||||||||||||||||||||
cash, cash equivalents and restricted cash, beginning of period | 39,418,000 | 0 | 0 | 44,067,000 | 0 | 0 | 0 | 43,618,000 | 0 | 0 | 0 | 43,512,000 | 0 | 0 | 0 | 39,949,000 | 0 | 0 | 0 | 34,368,000 | 0 | 0 | 0 | 34,661,000 | 0 | 0 | 0 | 33,632,000 | 0 | 0 | 0 | 29,791,000 | |||||||||||||||||||||||||||||||||||||||
cash, cash equivalents and restricted cash, end of period | 20,781,000 | 43,532,000 | -8,279,000 | 50,102,000 | 5,350,000 | 198,000 | 3,939,000 | 34,580,000 | -25,445,000 | 30,888,000 | -604,000 | 38,779,000 | -20,882,000 | 17,146,000 | 6,044,000 | 41,204,000 | -33,929,000 | 39,764,000 | -1,811,000 | 35,925,000 | -21,251,000 | -128,555,000 | -286,421,000 | 470,595,000 | -626,000 | 2,088,000 | 930,000 | 32,269,000 | -856,000 | 2,209,000 | 841,000 | 31,438,000 | |||||||||||||||||||||||||||||||||||||||
supplemental cash flow information: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest paid | 19,264,000 | 20,822,000 | 20,494,000 | 18,579,000 | 19,326,000 | 20,150,000 | 19,417,000 | 16,666,000 | 18,252,000 | 16,880,000 | 17,098,000 | 15,605,000 | 15,070,000 | 14,124,000 | 14,678,000 | 13,849,000 | 13,414,000 | 14,399,000 | 17,274,000 | 18,062,000 | 16,794,000 | 17,139,000 | 14,902,000 | 14,696,000 | 14,323,000 | 15,059,000 | 15,086,000 | 15,409,000 | 12,803,000 | 13,061,000 | 12,688,000 | 11,760,000 | 11,836,000 | 11,517,000 | 11,677,000 | 11,855,000 | 11,692,000 | 10,572,000 | 9,818,000 | 9,802,000 | 9,789,000 | 9,327,000 | 7,840,000 | 8,063,000 | 8,143,000 | 8,612,000 | 8,636,000 | 4,280,000 | |||||||||||||||||||||||
income taxes paid | 50,000 | 78,000 | 892,000 | 39,000 | 96,000 | 35,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
supplemental disclosure of noncash investing and financing activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accrued distribution to common shareholders | 18,870,000 | -13,000 | -113,000 | 19,053,000 | 12,008,000 | -108,000 | -85,000 | 19,355,000 | 13,117,000 | 1,000 | -17,000 | 18,296,000 | 20,570,000 | 4,561,000 | 0 | 11,420,000 | 2,000 | 0 | 47,000 | 2,232,000 | 2,000 | -1,000 | 1,000 | 22,384,000 | -621,000 | 1,000 | 0 | 23,020,000 | 718,000 | 1,000 | 0 | 22,301,000 | -31,000 | 4,874,000 | 0 | 17,451,000 | -3,000 | -120,000 | |||||||||||||||||||||||||||||||||
accrued capital expenditures | 6,267,000 | 216,000 | -1,650,000 | 6,010,000 | 9,784,000 | 550,000 | -1,367,000 | 4,771,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
reconciliation of cash, cash equivalents and restricted cash: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, beginning of period | 8,515,000 | 0 | 0 | 10,253,000 | 0 | 0 | 0 | 10,287,000 | 0 | 0 | 0 | 4,077,000 | 0 | 0 | 0 | 3,282,000 | 0 | 0 | 0 | 5,556,000 | 0 | 0 | 0 | 18,102,000 | 0 | 0 | 0 | 9,027,000 | 0 | 0 | 0 | 30,733,000 | 0 | 0 | 0 | 224,108,000 | 0 | 0 | 272,913,000 | 0 | 0 | 75,193,000 | 0 | 0 | 96 | 19,904 | |||||||||||||||||||||||||
restricted cash-furniture, fixtures and other escrows, beginning of period | 30,903,000 | 0 | 0 | 33,814,000 | 0 | 0 | 0 | 33,331,000 | 0 | 0 | 0 | 39,435,000 | 0 | 0 | 0 | 36,667,000 | 0 | 0 | 0 | 28,812,000 | 0 | 0 | 0 | 34,661,000 | 0 | 0 | 0 | 33,632,000 | 0 | 0 | 0 | 29,791,000 | |||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, end of period | 7,837,000 | 42,394,000 | -7,021,000 | 14,917,000 | 4,106,000 | -1,077,000 | 2,282,000 | 4,942,000 | -25,079,000 | 28,946,000 | 327,000 | 6,093,000 | -21,496,000 | 23,975,000 | 962,000 | 636,000 | -36,150,000 | 36,533,000 | -2,877,000 | 5,776,000 | -21,879,000 | -129,026,000 | -280,799,000 | 437,260,000 | 46,905,000 | -10,486,000 | 12,125,000 | 4,544,000 | 2,844,000 | -30,669,000 | -6,289,000 | -49,889,000 | 117,580,000 | 53,212,000 | 38,434,000 | 319,827,000 | 26,579,000 | -67,412,000 | 155,767,000 | -120,837,000 | 33,451,000 | 162,569,382 | 9,618 | ||||||||||||||||||||||||||||
restricted cash-furniture, fixtures and other escrows, end of period | 12,944,000 | 1,138,000 | -1,258,000 | 35,185,000 | 1,244,000 | 1,275,000 | 1,657,000 | 29,638,000 | -366,000 | 1,942,000 | -931,000 | 32,686,000 | 614,000 | -6,829,000 | 5,082,000 | 40,568,000 | 2,221,000 | 3,231,000 | 1,066,000 | 30,149,000 | 628,000 | 471,000 | -5,622,000 | 33,335,000 | -626,000 | 2,088,000 | 930,000 | 32,269,000 | -856,000 | 2,209,000 | 841,000 | 31,438,000 | |||||||||||||||||||||||||||||||||||||||
impairment of depreciable real estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in other assets | 1,970,000 | 1,182,000 | -7,299,000 | -745,000 | 1,047,000 | -1,357,000 | -41,000 | -2,001,000 | -2,345,000 | -8,898,000 | 538,000 | -2,112,000 | -291,000 | -2,229,000 | -1,363,000 | -89,000 | -376,000 | -1,219,000 | -386,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
acquisition of hotel properties | -15,000 | -15,000 | -64,000 | -78,948,000 | -118,337,000 | -260,408,000 | -32,000 | -165,258,000 | -147,883,000 | 24,000 | -49,369,000 | 10,000 | -63,592,000 | -7,017,000 | 175,000 | -6,000 | -52,576,000 | -15,557,000 | -25,000 | -73,550,000 | -61,614,000 | -106,109,000 | -38,663,000 | 0 | -18,131,000 | 0 | -19,889,000 | -170,215,000 | |||||||||||||||||||||||||||||||||||||||||||
equity issuance costs | -49,000 | -231,000 | -142,000 | -90,000 | -173,000 | -159,000 | -22,000 | -35,000 | -15,000 | -23,000 | -1,000 | -31,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from term loans and senior notes | 0 | 0 | 0 | 0 | 50,000,000 | 50,000,000 | 50,000,000 | 0 | 0 | 0 | 50,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payments on term loans and senior notes | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
financing costs | 0 | 0 | 0 | -10,160,000 | -11,000 | -75,000 | -29,000 | -1,472,000 | -6,000 | -98,000 | -1,674,000 | -511,000 | -774,000 | -11,000 | -922,000 | -771,000 | 752,000 | -702,000 | -45,000 | -11,000 | -6,506,000 | -493,000 | 102,000 | -125,000 | -74,000 | -4,806,000 | |||||||||||||||||||||||||||||||||||||||||||||
decrease in accounts payable and other liabilities | -4,385,000 | -6,196,000 | -617,000 | 3,654,000 | -11,670,000 | -1,136,000 | -5,235,000 | 836,000 | -7,746,000 | 3,917,000 | -34,814,000 | 404,000 | -1,777,000 | 6,212,000 | -6,531,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in due from third party managers | -15,529,000 | -16,628,000 | -2,857,000 | 4,886,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss on impairment of depreciable real estate assets | 0 | 0 | 0 | 10,754,000 | 715,000 | 0 | 0 | 0 | 0 | 38,000,000 | 0 | 0 | 7,875,000 | 0 | 2,388,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to cash from operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
repurchases of common shares to satisfy employee withholding requirements | -2,266,000 | 0 | 0 | -5,742,000 | -1,918,000 | 0 | 0 | -4,415,000 | -1,695,000 | 0 | 0 | -1,650,000 | -784,000 | 0 | 0 | -1,748,000 | -86,000 | 0 | 0 | -491,000 | -649,000 | 0 | 0 | -876,000 | -260,000 | 0 | 0 | -432,000 | -1,000,000 | 0 | 0 | -459,000 | |||||||||||||||||||||||||||||||||||||||
net payments on revolving credit facility | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
notes payable originated from acquisitions | 0 | 0 | -1,153,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds from (payments on) revolving credit facility | 76,000,000 | -82,000,000 | -23,900,000 | -70,000,000 | -225,300,000 | 374,100,000 | -109,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in due from third party managers | -27,789,000 | 1,319,000 | -5,869,000 | -20,508,000 | 11,741,000 | -846,000 | -22,251,000 | 13,669,000 | -4,622,000 | -25,920,000 | 5,323,000 | 16,000 | -26,222,000 | 6,000,000 | -2,066,000 | -18,284,000 | 3,420,000 | -2,482,000 | -16,458,000 | 6,413,000 | -2,982,000 | -12,875,000 | 2,752,000 | -874,000 | -6,982,000 | 4,370,000 | 2,594,000 | 1,023,000 | -9,133,000 | 4,363,000 | 2,349,000 | ||||||||||||||||||||||||||||||||||||||||
net proceeds from revolving credit facility | 40,500,000 | 500,000 | 44,100,000 | 47,700,000 | 63,800,000 | -65,300,000 | 96,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease (increase) in due from third party managers | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease (increase) in other assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
refunds (disbursements) for potential acquisitions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from mortgage debt and other loans | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
refunds (payments) for potential acquisitions | 1,752,000 | -270,000 | -109,000 | 169,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payments of finance lease settlement | -45,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net loss to cash from operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds related to issuance of common shares | -30,000 | 0 | -54,000 | 4,731,000 | 245,004,000 | 194,706,000 | 162,845,000 | 141,771,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net loss | 20,283,000 | -46,435,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net payments on extinguished revolving credit facility | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
repayment of term loans and senior notes | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
deposits and other disbursements for potential acquisitions | 300,000 | -583,000 | -586,000 | -360,000 | 0 | -175,000 | -158,000 | -204,000 | 451,000 | -364,000 | -139,000 | 567,000 | -805,000 | 5,000 | 5,153,000 | -65,000 | -3,000 | -5,845,000 | -10,578,000 | -37,000 | 422,000 | -153,000 | -889,000 | -3,077,000 | |||||||||||||||||||||||||||||||||||||||||||||||
proceeds from mortgage debt | 63,400,000 | 0 | 0 | 0 | 44,000,000 | 70,000,000 | 0 | 0 | 0 | 28,000,000 | 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payments of mortgage debt | -18,354,000 | -3,338,000 | -3,262,000 | -23,791,000 | -3,415,000 | -3,336,000 | -3,259,000 | -3,135,000 | -2,933,000 | -2,701,000 | -2,629,000 | -2,641,000 | -31,949,000 | -49,871,000 | -70,942,000 | -53,041,000 | -33,840,000 | -21,671,000 | -25,190,000 | -44,458,000 | -19,899,000 | -31,023,000 | -24,425,000 | -1,841,000 | |||||||||||||||||||||||||||||||||||||||||||||||
net (payments on) proceeds from existing revolving credit facility | -100,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from term loans | 85,000,000 | 0 | 0 | 75,000,000 | 0 | 0 | 0 | 100,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
repayment of term loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
mortgage debt assumed by buyer upon sale of real estate | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net payments on existing revolving credit facility | 2,300,000 | -78,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds from extinguished revolving credit facility | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
depreciation | 46,730,000 | 46,169,000 | 45,743,000 | 44,840,000 | 44,729,000 | 44,110,000 | 43,893,000 | 43,767,000 | 43,512,000 | 37,343,000 | 33,824,000 | 33,484,000 | 33,244,000 | 32,351,000 | 31,135,000 | 30,719,000 | 31,704,000 | 31,095,000 | 30,754,000 | 19,559,000 | 13,732,000 | 13,633,000 | 13,500,000 | 12,778,000 | 11,898,000 | 10,266,000 | 7,934,000 | 6,851,000 | 5,698,000 | 4,004,000 | 3,122,000 | 2,652,000 | 2,010,000 | ||||||||||||||||||||||||||||||||||||||
loss on sale of real estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
changes in operating assets and liabilities, net of amounts acquired or assumed with acquisitions: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash consideration in apple ten merger, net of restricted cash acquired | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds from existing revolving credit facility | 95,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net (payments on) proceeds from extinguished revolving credit facilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stock consideration in apple ten merger | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
repayments of term loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash consideration in apple ten merger | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
capital improvements and development costs | -17,605,000 | -12,035,000 | -13,157,000 | -22,331,000 | -22,206,000 | -10,877,000 | -10,371,000 | -18,806,000 | -19,751,000 | -19,411,000 | -17,038,000 | -11,790,000 | -11,135,000 | -4,546,000 | -3,514,000 | -3,310,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in capital improvement reserves | 315,000 | -1,161,000 | -1,284,000 | 1,094,000 | 1,166,000 | 848,000 | 25,000 | 1,586,000 | 1,100,000 | 380,000 | 3,135,000 | 3,836,000 | 1,570,000 | 714,000 | 1,468,000 | 186,000 | 312,000 | 618,000 | -498,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
payments on extinguished credit facility | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
repayment of term loan | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net change in cash and cash equivalents | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
mortgage debt assumed in acquisition of hotel properties | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series b convertible preferred share expense | 0 | 0 | 0 | 117,133,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds from sale of hotel properties | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payments on extinguished credit facilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in cash and cash equivalents | -805,000 | 805,000 | -18,102,000 | 0 | 0 | -9,027,000 | -10,486,000 | 12,125,000 | 4,544,000 | -27,889,000 | -10,286 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
notes payable assumed in acquisitions | 0 | 0 | 20,988,000 | 4,954,000 | 0 | 15,109,000 | 4,175,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stock consideration in a7 and a8 mergers | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
conversion of series b convertible preferred shares to common shares | 0 | 0 | 0 | 117,133,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to cash provided by operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in cash and cash equivalents | 46,905,000 | -30,669,000 | -6,289,000 | 53,212,000 | 38,434,000 | 46,914,000 | 26,579,000 | -67,412,000 | 80,574,000 | -120,837,000 | 33,451,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
repurchases of common shares under share repurchase programs | -361,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds from (payments on) credit facility | 57,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds (costs) from sale of real estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payments received on note receivable | 50,760,000 | 1,575,000 | 1,575,000 | 1,575,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds from existing credit facility | 39,300,000 | 190,700,000 | 16,600,000 | -1,800,000 | 16,700,000 | 160,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
merger transactions purchase price | 0 | 0 | 0 | 1,814,613,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
redemptions of shares | -10,827,000 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds from (payments on) existing credit facility | -91,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other non-cash incomes | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash paid for acquisitions | 0 | -5,000 | -2,000 | -3,183,000 | -30,989,000 | 1,448,000 | -50,693,000 | -80,015,000 | -152,839,000 | -195,531,000 | -25,963,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds (costs) from sale of assets | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds related to issuance of shares | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
monthly distributions paid to common shareholders | -63,550,000 | -62,303,000 | -61,693,000 | -45,866,000 | -37,940,000 | -37,939,000 | -37,863,000 | -37,844,000 | -37,816,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
special distribution paid to common shareholders | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from mortgage and other debt | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payments of mortgage and other debt | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
note receivable issued from sale of assets | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds related to issuance of units | 141,000 | -151,000 | 10,745,000 | 11,184,000 | 11,768,000 | 12,029,000 | 12,781,000 | 13,429,000 | 14,093,000 | 15,344,000 | 16,209,000 | 13,197,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from (payments on) extinguished credit facilities | 0 | 9,600,000 | -139,090,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in accounts payable and accrued expenses | -5,517,000 | 1,465,000 | -803,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds from sale of other assets | 2,134,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
redemptions of units | 0 | 0 | -9,990,000 | -10,002,000 | -9,999,000 | -9,998,000 | -15,989,000 | -16,001,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
depreciation, including discontinued operations | 13,410,000 | 13,329,000 | 13,166,000 | 12,843,000 | 12,628,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
amortization of deferred financing costs, fair value adjustments and other non-cash expenses | 50,000 | 49,000 | 165,000 | 50,000 | 40,000 | 17,000 | 215,000 | 32,000 | 38,000 | 39,000 | 211,000 | 66,000 | 43,000 | 159,000 | 27,000 | -15,000 | 113,000 | 81,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
straight-line rental income | 0 | 0 | -443,000 | -1,532,000 | -1,533,000 | -1,532,000 | -1,547,000 | -1,546,000 | -1,547,000 | -1,546,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in accounts payable and accrued expenses | -4,224,000 | -2,531,000 | 2,336,000 | 1,433,000 | -3,091,000 | -846,000 | 2,529,000 | 605,000 | 471,000 | 2,455,000 | 1,026,000 | 2,442,000 | -190,000 | 161,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
repayment in other assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from notes payable | 0 | 47,690,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payments of notes payable | -954,000 | -917,000 | -904,000 | -938,000 | -2,613,000 | -30,637,000 | -627,000 | -635,000 | -626,000 | -599,000 | -505,000 | -470,000 | -271,000 | -188,000 | -123,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
deferred financing costs | -370,000 | -184,000 | -164,000 | -10,000 | 0 | -3,000 | -309,000 | -98,000 | -377,000 | -236,000 | -64,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
supplemental information: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
non-cash transactions: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other assets assumed in acquisitions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other liabilities assumed in acquisitions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in capital improvement reserves | -78,000 | 569,000 | -455,000 | -486,000 | -180,000 | -100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds from credit facility | 4,200,000 | 11,100,000 | 6,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from sale of assets | 0 | -6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest received on note receivable | 1,575,000 | 2,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
repayment (investment) in other assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in other assets | 0 | -3,240,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
redeemptions of units | -16,103,000 | -3,907,000 | -3,259,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in funds due from third party managers | -7,420,000 | -151,000 | -448,000 | -1,503,000 | -1,417,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase (decrease) in cash and cash equivalents | -106,528,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
revenues: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
room revenue | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other revenue | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total hotel revenue | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
rental revenue | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total revenue | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
expenses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
hotel operating expenses | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
taxes, insurance and other | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
general and administrative | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
acquisition related costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total expenses | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
per share: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income per common share | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
distributions declared and paid per common share | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average common shares outstanding—basic and diluted | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
balance sheet data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in real estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
notes payable | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
shareholders’ equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net book value per share | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other data: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow from | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
operating activities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investing activities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
financing activities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
number of hotels owned at end of period | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
average daily rate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
occupancy | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
revenue per available room | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
rooms sold | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
rooms available | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
modified funds from operations calculation | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
depreciation of real estate owned | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
funds from operations | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
modified funds from operations | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
redemptions of common stock | -2,207,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(increase) decrease in other assets | 507,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease (increase) in capital improvement reserves | 132,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
redeemptions of common stock | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payoff of the line of credit, net of borrowings | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
borrowings from (payments on) line of credit | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
amortization of deferred financing costs and fair value adjustments | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stock option expense | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash paid for the acquisition of hotel properties | -250,233,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
capital improvements and other investing activities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows used in investing activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash from operating activities: | 966,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds from issuance of common shares | 101,169,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accounts payable and accrued expenses | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow from operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accrued expenses | 1,086 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow from investing activities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow from financing activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash paid for offering costs | -41,520 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from line of credit | 50,000 |