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SEC Filings

10-K
RLJ LODGING TRUST filed this Form 10-K on 03/01/2019
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RLJ Lodging Trust
Consolidated Statements of Operations and Comprehensive Income
(Amounts in thousands, except share and per share data)
 
 
For the year ended December 31,
 
2018
 
2017
 
2016
Revenues
 

 
 

 
 

Operating revenues
 

 
 

 
 

Room revenue
$
1,473,047

 
$
1,146,882

 
$
1,010,637

Food and beverage revenue
205,518

 
157,672

 
111,691

Other revenue
82,659

 
51,707

 
37,667

Total revenues
1,761,224

 
1,356,261

 
1,159,995

Expenses
 

 
 

 
 

Operating expenses
 

 
 

 
 

Room expense
364,820

 
270,729

 
228,656

Food and beverage expense
157,156

 
113,914

 
79,589

Management and franchise fee expense
138,143

 
122,633

 
118,210

Other operating expense
417,110

 
304,595

 
241,654

Total property operating expenses
1,077,229

 
811,871

 
668,109

Depreciation and amortization
241,641

 
186,993

 
162,500

Property tax, insurance and other
135,059

 
91,406

 
77,281

General and administrative
49,195

 
40,453

 
31,516

Transaction costs
2,057

 
44,398

 
192

Total operating expenses
1,505,181

 
1,175,121

 
939,598

Other income
2,791

 
269

 
303

Interest income
4,891

 
2,987

 
1,695

Interest expense
(101,643
)
 
(78,322
)
 
(58,820
)
Gain on sale of hotel properties, net
30,941

 
8,980

 
45,929

Gain on extinguishment of indebtedness, net
5,996

 

 

Gain on settlement of an investment in loan

 
2,670

 

Income before equity in income from unconsolidated joint ventures
199,019

 
117,724

 
209,504

Equity in income from unconsolidated joint ventures
636

 
133

 

Income before income tax expense
199,655

 
117,857

 
209,504

Income tax expense
(8,793
)
 
(42,118
)
 
(8,190
)
Net income
190,862

 
75,739

 
201,314

Net income attributable to noncontrolling interests:
 

 
 

 
 

Noncontrolling interest in consolidated joint ventures
(17
)
 
(117
)
 
(55
)
Noncontrolling interest in the Operating Partnership
(719
)
 
(291
)
 
(907
)
Preferred distributions - consolidated joint venture
(1,483
)
 
(496
)
 

Net income attributable to RLJ
188,643

 
74,835

 
200,352

Preferred dividends
(25,115
)
 
(8,372
)
 

Net income attributable to common shareholders
$
163,528

 
$
66,463

 
$
200,352

 
 
 
 
 
 
Basic per common share data:
 

 
 

 
 

Net income per share attributable to common shareholders
$
0.93

 
$
0.47

 
$
1.61

Weighted-average number of common shares
174,225,130

 
140,616,838

 
123,651,003

 
 
 
 
 
 

F-4

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