CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income	$ 206,708	$ 90,766	$ 32,995
Adjustments to reconcile net income to net cash provided by operating activities:
Bad debt expense	372	964	323
Gain on sale of assets	(123,820)	(22,946)	(152,442)
(Gain) loss on extinguishment of debt, net	(9,938)	936	57
Noncash interest on derivatives, net	252	(2,194)	(3,405)
Depreciation	126,543	125,843	128,619
Amortization of franchise fees and other intangibles	464	492	63
Amortization of deferred financing costs	2,700	2,486	2,925
Amortization of deferred stock compensation	10,775	10,891	12,788
Impairment losses		3,466	2,685
Gain on hurricane-related damage	(3,722)	(4,369)
Changes in operating assets and liabilities:
Accounts receivable	10,609	(12,739)	(20,515)
Prepaid expenses and other assets	(1,871)	4,457	(18)
Accounts payable and other liabilities	(20,839)	12,740	25,639
Operating lease right-of-use assets and obligations	(102)	(1,409)	(1,344)
Net cash provided by operating activities	198,131	209,384	28,370
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sale of assets	364,491	191,291	183,553
Disposition deposit			4,000
Acquisitions of hotel properties and other assets		(232,506)	(363,498)
Proceeds from property insurance	3,722	4,369
Renovations and additions to hotel properties and other assets	(110,131)	(128,576)	(63,663)
Payment for interest rate derivative		(299)	(80)
Net cash provided by (used in) investing activities	258,082	(165,721)	(239,688)
CASH FLOWS FROM FINANCING ACTIVITIES
Acquisition of noncontrolling interest, including transaction costs	(299)	(104,261)
Proceeds from preferred stock offerings			215,000
Redemptions of preferred stock			(190,000)
Proceeds from common stock offerings			38,443
Repurchases of outstanding common stock	(56,403)	(108,442)
Repurchases of common stock for employee tax obligations	(3,348)	(3,351)	(4,877)
Proceeds from credit facility		230,000	110,000
Payment on credit facility		(230,000)	(110,000)
Proceeds from notes payable	225,000	243,615
Payments on notes payable	(222,086)	(38,916)	(79,884)
Payments of deferred financing costs	(2,332)	(7,404)	(397)
Dividends and distributions paid	(59,825)	(24,824)	(13,693)
Distribution to noncontrolling interest		(5,500)
Contributions from noncontrolling interest			1,375
Net cash used in financing activities	(119,721)	(49,174)	(42,104)
Net increase (decrease) in cash and cash equivalents and restricted cash	336,492	(5,511)	(253,422)
Cash and cash equivalents and restricted cash, beginning of period	157,206	162,717	416,139
Cash and cash equivalents and restricted cash, end of period	493,698	157,206	162,717
Supplemental Disclosure of Cash Flow Information
Cash and cash equivalents	426,403	101,223	120,483
Restricted cash	67,295	55,983	42,234
Total cash and cash equivalents and restricted cash shown on the consolidated statements of cash flows	493,698	157,206	162,717
Cash paid for interest	49,296	31,658	31,431
Cash paid for income taxes, net	1,731	709	35
Operating cash flows used for operating leases	5,527	6,760	6,803
Changes in operating lease right-of-use assets	4,433	3,774	3,796
Changes in operating lease obligations	(4,535)	(5,183)	(5,140)
Changes in operating lease right-of-use assets and lease obligations, net	(102)	(1,409)	(1,344)
Supplemental Disclosure of Noncash Investing and Financing Activities
Accrued renovations and additions to hotel properties and other assets	9,812	9,567	8,527
Operating lease right-of-use asset obtained in exchange for operating lease obligation	2,163		864
Amortization of deferred stock compensation - construction activities	467	481	490
Preferred stock redemption charges			6,640
Dividends and distributions payable	29,965	13,995	3,513
Montage Healdsburg
Supplemental Disclosure of Noncash Investing and Financing Activities
Issuance of preferred stock in connection with acquisition of hotel			66,250
Hyatt Centric Chicago Magnificent Mile
Supplemental Disclosure of Noncash Investing and Financing Activities
Disposition deposit received in prior year in connection with sale of hotel		4,000
Assignment of finance lease right-of-use asset in connection with sale of hotel		44,712
Assignment of finance lease obligation in connection with sale of hotel		15,569
Embassy Suites La Jolla
Supplemental Disclosure of Noncash Investing and Financing Activities
Assignment of loan in connection with disposition of hotel			56,624
Operating lease | Hilton Garden Inn Chicago Downtown/Magnificent Mile
Supplemental Disclosure of Noncash Investing and Financing Activities
Assignment of operating lease right-of-use asset in connection with sale of hotel		2,275
Assignment of operating lease obligation in connection with sale of hotel		2,609
Preferred Stock
CASH FLOWS FROM FINANCING ACTIVITIES
Payment of stock issuance costs			(7,287)
Common Stock
CASH FLOWS FROM FINANCING ACTIVITIES
Payment of stock issuance costs	$ (428)	$ (91)	$ (784)