CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
REVENUE
Total revenue	$ 302,001	$ 316,482	$ 579,360	$ 620,378
Hotel operating expenses:
Total hotel expenses	198,830	207,445	387,304	418,332
Property taxes, insurance and other	16,234	16,846	32,283	34,273
Depreciation and amortization	35,276	37,187	72,615	77,731
Impairment charges	1,447	0	1,447	0
Advisory services fee	12,017	11,474	23,562	26,675
Corporate, general and administrative	5,485	7,194	9,817	15,403
Total operating expenses	269,289	280,146	527,028	572,414
Gain (loss) on consolidation of VIE and disposition of assets and hotel properties	6,684	87,441	38,552	94,397
Gain (loss) on derecognition of assets	9,900	11,725	19,946	145,634
OPERATING INCOME (LOSS)	49,296	135,502	110,830	287,995
Equity in earnings (loss) of unconsolidated entities	44	(162)	(387)	(695)
Interest income	1,253	1,688	2,467	3,672
Other income (expense)	0	37	0	72
Interest expense and amortization of discounts and loan costs	(70,687)	(68,416)	(137,489)	(142,377)
Interest expense associated with hotels in receivership	(9,902)	(11,944)	(19,948)	(24,042)
Write-off of premiums, loan costs and exit fees	(1,486)	(3,796)	(6,083)	(3,814)
Gain (loss) on extinguishment of debt	(2)	0	(15)	45
Realized and unrealized gain (loss) on derivatives	(836)	1,357	(3,576)	6,118
INCOME (LOSS) BEFORE INCOME TAXES	(32,320)	54,266	(54,201)	126,974
Income tax (expense) benefit	(119)	(3,455)	(436)	(3,758)
NET INCOME (LOSS)	(32,439)	50,811	(54,637)	123,216
(Income) loss attributable to noncontrolling interest in consolidated entities	1,412	8	3,188	17
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership	631	(565)	1,082	(1,418)
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY	(30,396)	50,254	(50,367)	121,815
Preferred dividends	(7,017)	(5,468)	(13,746)	(10,479)
Deemed dividends on redeemable preferred stock	(2,530)	(669)	(3,587)	(1,351)
Gain (loss) on extinguishment of preferred stock	0	211	0	1,784
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ (39,943)	$ 44,328	$ (67,700)	$ 111,769
Basic:
Net income (loss) attributable to common stockholders (in dollars per share)	$ (6.88)	$ 10.20	$ (11.82)	$ 27.23
Weighted average common shares outstanding (in shares)	5,804	4,324	5,728	4,085
Diluted:
Net income (loss) attributable to common stockholders (in dollars per share)	$ (6.88)	$ 2.50	$ (11.82)	$ 7.67
Weighted average common shares outstanding (in shares)	5,895	18,936	5,728	15,305
Total Hotel
REVENUE
Total revenue	$ 301,545	$ 315,799	$ 578,595	$ 619,056
Rooms
REVENUE
Total revenue	227,203	243,605	433,504	472,812
Hotel operating expenses:
Total hotel expenses	51,659	54,073	99,449	108,753
Food and beverage
REVENUE
Total revenue	55,336	55,260	109,865	112,618
Hotel operating expenses:
Total hotel expenses	35,455	37,508	71,181	75,339
Other hotel
REVENUE
Total revenue	19,006	16,934	35,226	33,626
Hotel operating expenses:
Total hotel expenses	101,372	104,680	196,482	211,506
Management Fees
Hotel operating expenses:
Total hotel expenses	10,344	11,184	20,192	22,734
Other
REVENUE
Total revenue	$ 456	$ 683	$ 765	$ 1,322