2020 Q2 Form 10-Q Financial Statement

#000155837020006184 Filed on May 11, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2020 Q1 2019 Q1
Revenue $10.42M $191.2M $257.7M
YoY Change -96.56% -25.79% -5.07%
Cost Of Revenue $13.30M $89.80M $99.00M
YoY Change -87.28% -9.29% -5.89%
Gross Profit -$2.900M $101.4M $158.6M
YoY Change -101.46% -36.07% -4.63%
Gross Profit Margin -27.82% 53.03% 61.55%
Selling, General & Admin $8.814M $11.81M $12.81M
YoY Change -38.78% -7.8% -87.57%
% of Gross Profit 11.65% 8.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $34.60M $36.74M $36.35M
YoY Change -5.72% 1.08% -0.97%
% of Gross Profit 36.23% 22.92%
Operating Expenses $115.3M $331.9M $233.5M
YoY Change -52.61% 42.14% -4.71%
Operating Profit -$104.9M -$140.6M $24.21M
YoY Change -275.96% -681.05% -8.45%
Interest Expense $12.95M $17.51M $14.33M
YoY Change -18.12% 22.2% -260.97%
% of Operating Profit 59.18%
Other Income/Expense, Net $306.0K $2.306M $4.900M
YoY Change -93.63% -52.94% 226.67%
Pretax Income -$117.5M -$155.8M $14.80M
YoY Change -341.82% -1152.75% -57.34%
Income Tax -$12.00K $6.670M -$3.112M
% Of Pretax Income -21.02%
Net Earnings -$117.5M -$162.5M $17.92M
YoY Change -355.89% -1007.12% -53.41%
Net Earnings / Revenue -1127.21% -84.99% 6.95%
Basic Earnings Per Share
Diluted Earnings Per Share -$538.3K -$733.5K $71.74K
COMMON SHARES
Basic Shares Outstanding 215.6M 225.1M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q2 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $540.4M $847.4M $684.0M
YoY Change -27.12% 23.89% 46.44%
Cash & Equivalents $540.4M $847.4M $684.0M
Short-Term Investments
Other Short-Term Assets $130.6M $67.70M $66.00M
YoY Change 137.89% 2.58% -28.1%
Inventory
Prepaid Expenses
Receivables $4.448M $23.13M $42.30M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $675.5M $938.3M $792.4M
YoY Change -20.02% 18.41% 30.14%
LONG-TERM ASSETS
Property, Plant & Equipment $7.194M $7.442M $3.074B
YoY Change -9.7% -99.76% -1.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $13.11M $13.88M $21.40M
YoY Change -45.14% -35.14% -16.41%
Total Long-Term Assets $2.748B $2.861B $3.098B
YoY Change -10.81% -7.65% -1.45%
TOTAL ASSETS
Total Short-Term Assets $675.5M $938.3M $792.4M
Total Long-Term Assets $2.748B $2.861B $3.098B
Total Assets $3.424B $3.800B $3.891B
YoY Change -12.79% -2.34% 3.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $37.70M $34.30M $30.10M
YoY Change 37.09% 13.95% -14.0%
Accrued Expenses $28.00M $26.20M $26.00M
YoY Change -12.77% 0.77% 16.07%
Deferred Revenue $13.75M $13.90M
YoY Change -16.51%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $188.8M $82.19M $6.100M
YoY Change 2960.76% 1247.36% 8.93%
Total Short-Term Liabilities $285.9M $186.2M $112.4M
YoY Change 135.9% 65.67% -3.35%
LONG-TERM LIABILITIES
Long-Term Debt $829.7M $1.187B $996.7M
YoY Change -14.3% 19.14% -0.59%
Other Long-Term Liabilities $25.37M $24.82M $61.70M
YoY Change 32.32% -59.78% 100.32%
Total Long-Term Liabilities $855.0M $1.212B $1.058B
YoY Change -13.39% 14.54% 2.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $285.9M $186.2M $112.4M
Total Long-Term Liabilities $855.0M $1.212B $1.058B
Total Liabilities $1.204B $1.463B $1.228B
YoY Change 1.35% 19.13% 2.34%
SHAREHOLDERS EQUITY
Retained Earnings $1.041B $1.156B
YoY Change -16.25%
Common Stock $2.156M $2.155M
YoY Change -5.52%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.178B $2.293B $2.663B
YoY Change
Total Liabilities & Shareholders Equity $3.424B $3.800B $3.891B
YoY Change -12.79% -2.34% 3.67%

Cashflow Statement

Concept 2020 Q2 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$117.5M -$162.5M $17.92M
YoY Change -355.89% -1007.12% -53.41%
Depreciation, Depletion And Amortization $34.60M $36.74M $36.35M
YoY Change -5.72% 1.08% -0.97%
Cash From Operating Activities -$32.40M -$2.525M $31.57M
YoY Change -131.0% -108.0% 3.18%
INVESTING ACTIVITIES
Capital Expenditures -$1.000M -$300.0K
YoY Change 400.0%
Acquisitions
YoY Change
Other Investing Activities -$16.00M -$13.50M -$24.50M
YoY Change -43.26% -44.9% -125.08%
Cash From Investing Activities -$16.90M -$13.86M -$24.52M
YoY Change -40.49% -43.47% -125.1%
FINANCING ACTIVITIES
Cash Dividend Paid $135.9M $126.5M
YoY Change 7.44%
Common Stock Issuance & Retirement, Net $103.9M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -265.2M 52.34M -134.7M
YoY Change 1048.05% -138.87% -4.62%
NET CHANGE
Cash From Operating Activities -32.40M -2.525M 31.57M
Cash From Investing Activities -16.90M -13.86M -24.52M
Cash From Financing Activities -265.2M 52.34M -134.7M
Net Change In Cash -314.5M 35.96M -127.6M
YoY Change -693.4% -128.17% 889.36%
FREE CASH FLOW
Cash From Operating Activities -$32.40M -$2.525M $31.57M
Capital Expenditures -$1.000M -$300.0K
Free Cash Flow -$31.40M -$2.225M
YoY Change -129.99%

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CY2019Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-3284000
CY2020Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-11757000
CY2019Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
8642000
CY2020Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
247000
CY2019Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2131000
CY2020Q1 us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
-12226000
CY2019Q1 us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
-5837000
CY2020Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-7860000
CY2019Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-7937000
CY2020Q1 sho Increase Decrease In Operating Lease Right Of Use Assets And Liabilities Net
IncreaseDecreaseInOperatingLeaseRightOfUseAssetsAndLiabilitiesNet
-261000
CY2019Q1 sho Increase Decrease In Operating Lease Right Of Use Assets And Liabilities Net
IncreaseDecreaseInOperatingLeaseRightOfUseAssetsAndLiabilitiesNet
-19000
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2525000
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
31572000
CY2020Q1 us-gaap Proceeds From Deposits On Real Estate Sales
ProceedsFromDepositsOnRealEstateSales
3500000
CY2020Q1 us-gaap Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
346000
CY2020Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
17016000
CY2019Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
24520000
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-13862000
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-24520000
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
103894000
CY2020Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3992000
CY2019Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4435000
CY2020Q1 us-gaap Proceeds From Unsecured Lines Of Credit
ProceedsFromUnsecuredLinesOfCredit
300000000
CY2020Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
1898000
CY2019Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
1834000
CY2020Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
135872000
CY2019Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
126461000
CY2020Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
2000000
CY2019Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
1950000
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
52344000
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-134680000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
35957000
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-127628000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
864973000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
862369000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
900930000
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
734741000
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
847445000
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
683995000
CY2020Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
53485000
CY2019Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
50746000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
900930000
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
734741000
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
13091000
CY2019Q1 us-gaap Interest Paid Net
InterestPaidNet
14292000
CY2020Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
77000
CY2019Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
137000
CY2020Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
9382000
CY2019Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
11639000
CY2020Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
117000
CY2019Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
99000
CY2020Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
13984000
CY2019Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
14636000
CY2020Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
20
CY2020Q1 sho Schedule Of Hotels Whose Operations Have Been Temporarily Suspended
ScheduleOfHotelsWhoseOperationsHaveBeenTemporarilySuspended
<p style="font-family:'Times New Roman';font-size:12pt;text-indent:24.5pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:24.5pt;margin:0pt;">In response to the COVID-19 pandemic, the Company temporarily suspended operations at the following 11 hotels during March 2020:</p><p style="font-family:'Times New Roman';font-size:12pt;text-indent:24.5pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:77.29%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:63.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:22.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td></tr><tr><td style="background-color:auto;vertical-align:bottom;white-space:nowrap;width:63.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">Hotel</b></p></td><td style="background-color:auto;vertical-align:bottom;white-space:nowrap;width:13.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:10pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="background-color:auto;vertical-align:bottom;white-space:nowrap;width:22.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Suspension Date</b></p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:63.54%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Marriott Boston Long Wharf</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:13.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:22.61%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:10pt;">March 12, 2020</span></p></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:63.54%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Renaissance Orlando at SeaWorld®</p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:22.61%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:10pt;">March 20, 2020</span></p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:63.54%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Hyatt Regency San Francisco</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:13.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:22.61%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:10pt;">March 22, 2020</span></p></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:63.54%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Oceans Edge Resort &amp; Marina</p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:22.61%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:10pt;">March 22, 2020</span></p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:63.54%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Hilton San Diego Bayfront</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:13.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:22.61%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:10pt;">March 23, 2020</span></p></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:63.54%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Wailea Beach Resort</p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:22.61%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:10pt;">March 25, 2020</span></p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:63.54%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Renaissance Washington DC</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:13.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:22.61%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:10pt;">March 26, 2020</span></p></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:63.54%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Hilton Garden Inn Chicago Downtown/Magnificent Mile</p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:22.61%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:10pt;">March 27, 2020</span></p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:63.54%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Marriott Portland</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:13.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:22.61%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:10pt;">March 27, 2020</span></p></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:63.54%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Hilton New Orleans St. Charles</p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:22.61%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:10pt;">March 28, 2020</span></p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:63.54%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">JW Marriott New Orleans</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:13.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:22.61%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:10pt;">March 28, 2020</span></p></td></tr></table>
CY2020Q1 sho Number Of Real Estate Properties Whose Operations Have Been Temporarily Suspended
NumberOfRealEstatePropertiesWhoseOperationsHaveBeenTemporarilySuspended
11
CY2020Q2 sho Number Of Real Estate Properties Whose Operations Have Been Temporarily Suspended
NumberOfRealEstatePropertiesWhoseOperationsHaveBeenTemporarilySuspended
3
CY2020Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman';font-size:10pt;text-indent:10.1pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates</span></p><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:24.5pt;margin:0pt;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates.</p><p style="font-family:'Times New Roman';font-size:12pt;text-indent:24.5pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p>
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-162519000
CY2019Q1 us-gaap Profit Loss
ProfitLoss
17916000
CY2020Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-458000
CY2019Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1599000
CY2020Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3207000
CY2019Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3207000
CY2020Q1 us-gaap Dividends Share Based Compensation Cash
DividendsShareBasedCompensationCash
69000
CY2019Q1 us-gaap Dividends Share Based Compensation Cash
DividendsShareBasedCompensationCash
61000
CY2019Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
9000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-165337000
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13040000
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
221036000
CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
227219000
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.75
CY2019Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.06
CY2020Q1 sho Number Of Hotels Impaired
NumberOfHotelsImpaired
2
CY2020Q1 sho Leases Initial Maximum Term Not Recorded On Balance Sheet
LeasesInitialMaximumTermNotRecordedOnBalanceSheet
P12M
CY2020Q1 sho Leases Initial Minimum Term Recorded Right Of Use Assets
LeasesInitialMinimumTermRecordedRightOfUseAssets
P12M
CY2020Q1 sho Number Of Hotels With Operating Lease Right Of Use Asset Impairment
NumberOfHotelsWithOperatingLeaseRightOfUseAssetImpairment
1
CY2020Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
14135000
CY2019Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
21201000
CY2020Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
14650000
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
18498000
CY2020Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
10200000
CY2019Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
12900000
CY2020Q1 sho Number Of Real Estate Properties Held For Investment
NumberOfRealEstatePropertiesHeldForInvestment
20
CY2020Q1 us-gaap Land
Land
600649000
CY2019Q4 us-gaap Land
Land
601181000
CY2020Q1 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
2800187000
CY2019Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
2950534000
CY2020Q1 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
496312000
CY2019Q4 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
506754000
CY2020Q1 sho Finite Lived And Indefinite Lived Intangible Assets Gross
FiniteLivedAndIndefiniteLivedIntangibleAssetsGross
26802000
CY2019Q4 sho Finite Lived And Indefinite Lived Intangible Assets Gross
FiniteLivedAndIndefiniteLivedIntangibleAssetsGross
32610000
CY2020Q1 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
743000
CY2019Q4 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
743000
CY2020Q1 us-gaap Construction In Progress Gross
ConstructionInProgressGross
43782000
CY2019Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
40639000
CY2020Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
3968475000
CY2019Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
4132461000
CY2020Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1212063000
CY2019Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1260108000
CY2020Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2756412000
CY2019Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2872353000
CY2020Q1 sho Number Of Real Estate Properties Held For Investment
NumberOfRealEstatePropertiesHeldForInvestment
20
CY2020Q1 us-gaap Interest Rate Derivative Liabilities At Fair Value
InterestRateDerivativeLiabilitiesAtFairValue
7161000
CY2019Q4 us-gaap Interest Rate Derivative Liabilities At Fair Value
InterestRateDerivativeLiabilitiesAtFairValue
1081000
CY2020Q1 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-6080000
CY2019Q1 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-2064000
CY2020Q1 sho Percentage Of Debt Bearing Fixed Interest Rates
PercentageOfDebtBearingFixedInterestRates
0.592
CY2019Q4 sho Percentage Of Debt Bearing Fixed Interest Rates
PercentageOfDebtBearingFixedInterestRates
0.774
CY2020Q1 us-gaap Notes Payable
NotesPayable
1272965000
CY2019Q4 us-gaap Notes Payable
NotesPayable
974863000
CY2020Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7442000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7642000
CY2020Q1 us-gaap Deferred Rent Receivables Net Noncurrent
DeferredRentReceivablesNetNoncurrent
3497000
CY2019Q4 us-gaap Deferred Rent Receivables Net Noncurrent
DeferredRentReceivablesNetNoncurrent
3542000
CY2019Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
7415000
CY2020Q1 us-gaap Other Receivables
OtherReceivables
2636000
CY2019Q4 us-gaap Other Receivables
OtherReceivables
2984000
CY2020Q1 us-gaap Other Assets Miscellaneous Noncurrent
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CY2020Q1 sho Schedule Of Hotels Whose Operations Have Been Suspended Subsequent To End Of Period
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<p style="font-family:'Times New Roman';font-size:10pt;text-indent:24.5pt;margin:0pt;">In response to the COVID-19 pandemic, the Company temporarily suspended operations at the following hotels during April 2020, bringing the total number of suspended hotels to 14:</p><p style="font-family:'Times New Roman';font-size:12pt;text-indent:24.5pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:57.74%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:75.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:20.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td></tr><tr><td style="background-color:auto;vertical-align:bottom;white-space:nowrap;width:75.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">Hotel</b></p></td><td style="background-color:auto;vertical-align:bottom;white-space:nowrap;width:3.49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="background-color:auto;vertical-align:bottom;white-space:nowrap;width:20.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Suspension Date</b></p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:75.65%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Embassy Suites Chicago</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:3.49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:20.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:10pt;">April 1, 2020</span></p></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:75.65%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Renaissance Westchester</p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:20.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:10pt;">April 4, 2020</span></p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:75.65%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Hyatt Centric Chicago Magnificent Mile</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:3.49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:20.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:10pt;">April 6, 2020</span></p></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:75.65%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:20.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td></tr></table>

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