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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating Activities:    
Net (Loss) Income $ (2,588) $ 129,174
Adjustments to Reconcile Net Loss to Net Cash Provided by Operating Activities:    
Gain on Disposition of Hotel Properties 0 (167,800)
Loss on Impairment of Assets 0 10,024
Insurance Recoveries in Excess of Property Loss 0 (962)
Junior Note PIK Interest Added to Principal 0 1,855
Depreciation 41,379 50,965
Amortization 1,981 3,984
Loss on Debt Extinguishment 66 17,958
Equity in Loss of Unconsolidated Joint Ventures 421 101
Loss (Gain) Recognized on Change in Fair Value of Derivative Instrument 98 (875)
Share Based Compensation Expense 7,088 8,608
(Increase) Decrease in:    
Hotel Accounts Receivable 2,811 1,726
Other Assets (1,581) (4,152)
Due from Related Parties 13 2,353
Increase (Decrease) in:    
Due to Related Parties (1,241) (239)
Accounts Payable, Accrued Expenses and Other Liabilities (963) 12,577
Net Cash Provided by Operating Activities 47,484 65,297
Investing Activities:    
Capital Expenditures (29,390) (17,936)
Proceeds from Disposition of Hotel Properties 0 382,699
Contributions to Unconsolidated Joint Ventures 0 (485)
Proceeds from Insurance Claims 0 1,294
Distributions from Unconsolidated Joint Ventures 500 0
Net Cash (Used in) Provided by Investing Activities (28,890) 365,572
Financing Activities:    
Repayments on Line of Credit 0 (118,684)
Proceeds of Term Loan Borrowing 0 400,000
Payments on Term Loans (25,000) (497,481)
Principal Repayment of Mortgages (23,928) (159,923)
Deferred Financing Costs (99) (4,052)
Cash Paid for Debt Extinguishment 0 (10,143)
Dividends Paid on Common Shares (25,742) 0
Dividends Paid on Preferred Shares (18,131) (18,131)
Distributions Paid on Common Units and LTIP Units (4,621) 0
Net Cash Used in Financing Activities (97,521) (408,414)
Net (Decrease) Increase in Cash, Cash Equivalents, and Restricted Cash (78,927) 22,455
Cash, Cash Equivalents, and Restricted Cash - Beginning of Period 230,020 84,945
Cash, Cash Equivalents, and Restricted Cash - End of Period $ 151,093 $ 107,400