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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities:    
Net Income (Loss) $ (3,540) $ (7,015)
Adjustments to Reconcile Net Loss to Net Cash Provided by Operating Activities:    
Insurance Recoveries in Excess of Property Loss 0 (962)
Junior Note PIK Interest Added to Principal 0 1,855
Depreciation 27,615 36,117
Amortization 1,337 3,017
Loss on Debt Extinguishment 66 0
Equity in Loss of Unconsolidated Joint Ventures 426 579
Loss (Gain) Recognized on Change in Fair Value of Derivative Instrument 52 (739)
Share Based Compensation Expense 4,749 5,840
(Increase) Decrease in:    
Hotel Accounts Receivable 2,721 249
Other Assets (885) (4,057)
Due from Related Parties 163 1,961
Increase (Decrease) in:    
Due to Related Parties (76) (1,241)
Accounts Payable, Accrued Expenses and Other Liabilities (6,011) 4,882
Net Cash Provided by Operating Activities 26,617 40,486
Investing Activities:    
Capital Expenditures (20,681) (12,041)
Contributions to Unconsolidated Joint Ventures 0 (485)
Proceeds from Insurance Claims 0 1,294
Net Cash Used in Investing Activities (20,681) (11,232)
Financing Activities:    
Payments on Term Loans (25,000) 0
Principal Repayment of Mortgages (23,618) (1,221)
Deferred Financing Costs (99) (209)
Dividends Paid on Common Shares (23,746) 0
Dividends Paid on Preferred Shares (12,087) (12,087)
Distributions Paid on Common Units and LTIP Units (4,218) 0
Net Cash Used in Financing Activities (88,768) (13,517)
Net (Decrease) Increase in Cash, Cash Equivalents, and Restricted Cash (82,832) 15,737
Cash, Cash Equivalents, and Restricted Cash - Beginning of Period 230,020 84,945
Cash, Cash Equivalents, and Restricted Cash - End of Period $ 147,188 $ 100,682