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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating Activities:    
Net Loss $ (30,365) $ (145,925)
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 4,365 0
Deferred Taxes (322) 11,390
Depreciation 63,046 72,229
Amortization 3,893 2,200
Loss on Debt Extinguishment 634 0
Equity in Loss of Unconsolidated Joint Ventures 1,858 2,189
Loss Recognized on Change in Fair Value of Derivative Instrument 367 3,271
Share Based Compensation Expense 7,017 6,191
(Increase) Decrease in:    
Hotel Accounts Receivable (1,156) 5,472
Other Assets (6,811) 2,442
Due from Related Parties 37 4,203
Increase (Decrease) in:    
Accounts Payable, Accrued Expenses and Other Liabilities 11,032 0
Due to Related Parties 834 (4,189)
Net Cash Provided by (Used in) Operating Activities 5,588 (39,458)
Investing Activities:    
Capital Expenditures (7,992) (21,958)
Hotel Development Projects 0 21
Proceeds from Disposition of Hotel Properties 163,583 0
Contributions to Unconsolidated Joint Ventures (1,339) (825)
Net Cash Provided by (Used in) Investing Activities 154,252 (22,762)
Financing Activities:    
(Repayments) Borrowings on Line of Credit, Net (14,369)  
(Repayments) Borrowings on Line of Credit, Net   67,000
Payments on Term Loans (187,024) 0
Proceeds from Mortgages and Notes Payable 167,750 0
Principal Repayment of Mortgages (23,582) (1,067)
Proceeds of Paycheck Protection Program ("PPP") Loans 0 18,936
Repayment of PPP Loans 0 (18,936)
Deferred Financing Costs (6,219) (2,354)
Dividends Paid on Common Shares 0 (10,809)
Dividends Paid on Preferred Shares (36,262) (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 (99,706) 45,498
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash 60,134 (16,722)
Cash, Cash Equivalents, and Restricted Cash - Beginning of Period 23,607 36,985
Cash, Cash Equivalents, and Restricted Cash - End of Period $ 83,741 $ 20,263