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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities:    
Net Loss $ (14,433) $ (97,752)
Adjustments to Reconcile Net Loss to Net Cash Provided by Operating Activities:    
Gain on Disposition of Hotel Properties (48,352) 0
Loss on Impairment of Assets 222 1,069
Insurance recoveries in excess of property loss (711) 0
Junior Note PIK Interest Added to Principal 2,514 0
Deferred Taxes (499) 11,390
Depreciation 42,642 48,273
Amortization 2,594 1,116
Loss on Debt Extinguishment 634 0
Equity in Loss of Unconsolidated Joint Ventures 1,247 1,520
Loss Recognized on Change in Fair Value of Derivative Instrument 159 2,205
Share Based Compensation Expense 4,758 4,255
(Increase) Decrease in:    
Hotel Accounts Receivable 151 5,412
Other Assets (4,055) 4,884
Due from Related Parties 1,089 3,750
Increase (Decrease) in:    
Accounts Payable, Accrued Expenses and Other Liabilities 4,933 (2,479)
Net Cash Used in Operating Activities (7,107) (16,357)
Investing Activities:    
Capital Expenditures (5,374) (15,612)
Hotel Development Projects 0 21
Proceeds from Disposition of Hotel Properties 163,583 0
Contributions to Unconsolidated Joint Ventures (550) (600)
Net Cash Provided by (Used in) Investing Activities 157,659 (16,191)
Financing Activities:    
(Repayments) Borrowings on Line of Credit, Net (14,369)  
(Repayments) Borrowings on Line of Credit, Net   47,000
Payments on Term Loans (187,024) 0
Proceeds from Notes Payable 144,750 0
Principal Repayment of Mortgages (1,353) (650)
Proceeds of Paycheck Protection Program ("PPP") Loans 0 18,936
Repayment of PPP Loans 0 (18,936)
Deferred Financing Costs (5,795) (2,104)
Dividends Paid on Common Shares 0 (10,809)
Dividends Paid on Preferred Shares (30,218) (6,044)
Distributions Paid on Common Units and LTIP Units 0 (1,198)
Other Financing Activities 0 (30)
Net Cash (Used in) Provided by Financing Activities (94,009) 26,165
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash 56,543 (6,383)
Cash, Cash Equivalents, and Restricted Cash - Beginning of Period 23,607 36,985
Cash, Cash Equivalents, and Restricted Cash - End of Period $ 80,150 $ 30,602