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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities:    
Net Income (Loss) $ (7,754) $ (14,433)
Adjustments to Reconcile Net Loss to Net Cash Provided by Operating Activities:    
Gain on Disposition of Hotel Properties 0 (48,352)
Loss on Impairment of Assets 0 222
Insurance recoveries in excess of property loss (962) (711)
Junior Note PIK Interest Added to Principal 1,855 2,514
Deferred Taxes 0 (499)
Depreciation 36,117 42,642
Amortization 3,017 2,594
Loss on Debt Extinguishment 0 634
Equity in Loss of Unconsolidated Joint Ventures 579 1,247
Loss Recognized on Change in Fair Value of Derivative Instrument 0 159
Share Based Compensation Expense 5,840 4,758
(Increase) Decrease in:    
Hotel Accounts Receivable 249 151
Other Assets (4,057) (4,055)
Due from Related Parties 1,961 1,089
Increase (Decrease) in:    
Due to Related Parties (1,241) 0
Accounts Payable, Accrued Expenses and Other Liabilities 4,882 4,933
Net Cash Provided by (Used in) Operating Activities 40,486 (7,107)
Investing Activities:    
Capital Expenditures (12,041) (5,374)
Proceeds from Disposition of Hotel Properties 0 163,583
Contributions to Unconsolidated Joint Ventures (485) (550)
Proceeds from Insurance Claims 1,294 0
Net Cash (Used in) Provided by Investing Activities (11,232) 157,659
Financing Activities:    
Repayments on Line of Credit 0 (14,369)
Payments on Term Loans 0 (187,024)
Proceeds from Mortgages and Notes Payable 0 144,750
Principal Repayment of Mortgages (1,221) (1,353)
Deferred Financing Costs (209) (5,795)
Dividends Paid on Preferred Shares (12,087) (30,218)
Net Cash Used in Financing Activities (13,517) (94,009)
Net Increase in Cash, Cash Equivalents, and Restricted Cash 15,737 56,543
Cash, Cash Equivalents, and Restricted Cash - Beginning of Period 84,945 23,607
Cash, Cash Equivalents, and Restricted Cash - End of Period $ 100,682 $ 80,150