SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2021

Selected Quarterly Financial Information [Abstract]

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

	Year Ended December 31, 2021
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Hotel Operating Revenues:
Room	$	39,350	$	56,539	$	68,302	$	73,797
Food & Beverage	3,074		7,230		9,616		11,858
Other	4,729		6,314		7,289		7,768
Other Revenues	12		13		44		54
Hotel Operating Expenses:
Room	9,198		12,350		14,706		15,631
Food & Beverage	2,873		5,409		7,123		9,351
Other	20,109		23,551		28,160		29,695
Other Expenses	5,826		51,569		50,306		51,847
Loss from Unconsolidated Joint Ventures	(658)		(589)		(611)		(434)
Income (Loss) Before Income Taxes	8,501		(23,372)		(15,655)		(13,481)
Income Tax Benefit (Expense)	589		(151)		(277)		(999)
Net Income (Loss)	9,090		(23,523)		(15,932)		(14,480)
Income (loss) Allocated to Noncontrolling Interests	322		(2,945)		(2,177)		(2,024)
(Loss) Income Allocated to Noncontrolling Interests - Consolidated Joint Venture	(158)		1,968		—		342
Preferred Distributions	6,043		6,044		6,044		6,043
Net Income (Loss) applicable to Common Shareholders	$	2,883	$	(28,590)	$	(19,799)	$	(18,841)
Earnings per share:
Basic Net Income (Loss) applicable to Common Shareholders	$	0.07	$	(0.73)	$	(0.51)	$	(0.48)
Diluted Net Income (Loss) applicable to Common Shareholders	$	0.07	$	(0.73)	$	(0.51)	$	(0.48)
Weighted Average Common Shares Outstanding - Basic	38,970,893		39,097,820		39,139,610		39,149,120
Weighted Average Common Shares Outstanding - Diluted	39,840,474		39,097,820		39,139,610		39,149,120
	Year Ended December 31, 2020
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Hotel Operating Revenues:
Room	$	71,083	$	15,139	$	27,546	$	28,492
Food & Beverage	10,075		136		2,441		2,766
Other	8,780		2,137		3,734		4,114
Other Revenues	235		31		26		10,082
Hotel Operating Expenses:
Room	19,092		3,622		7,436		8,637
Food & Beverage	10,621		721		2,344		2,513
Other	35,806		14,035		17,965		17,464
Other Expenses	54,106		54,471		53,534		59,443
Loss from Unconsolidated Joint Ventures	(1,018)		(502)		(669)		(749)
Loss Before Income Taxes	(30,470)		(55,908)		(48,201)		(43,352)
Income Tax Benefit (Expense)	4,498		(15,872)		28		17
Net Loss	(25,972)		(71,780)		(48,173)		(43,335)
Loss Allocated to Noncontrolling Interests	(2,897)		(7,164)		(5,032)		(4,605)
Loss Allocated to Noncontrolling Interests - Consolidated Joint Ventures	—		(3,196)		—		(21)
Preferred Distributions	6,044		6,044		6,044		6,044
Net Loss applicable to Common Shareholders	$	(29,119)	$	(67,464)	$	(49,185)	$	(44,753)
Earnings per share:
Basic Net Loss applicable to Common Shareholders	$	(0.76)	$	(1.75)	$	(1.27)	$	(1.16)
Diluted Net Loss applicable to Common Shareholders	$	(0.76)	$	(1.75)	$	(1.27)	$	(1.16)
Weighted Average Common Shares Outstanding - Basic	38,564,099		38,609,922		38,639,048		38,640,604
Weighted Average Common Shares Outstanding - Diluted	38,564,099		38,609,922		38,639,048		38,640,604