Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Segment Reporting Information, by Segment

The following table presents revenues for our hotel ownership segment reconciled to our consolidated amounts and Hotel Adjusted EBITDA reconciled to consolidated net income (in thousands):


	Year Ended December 31,
	2025		2024		2023
Revenues:
Hotel ownership revenue	$	1,120,491	$	1,129,883	$	1,074,867
Total consolidated revenue	1,120,491		1,129,883		1,074,867

Significant expenses:
Rooms expense	182,694		186,131		176,765
Food and beverage expense	191,172		193,331		180,546
Other departmental and support expenses	270,698		268,563		261,536
Management fees	27,426		28,739		26,587
Franchise fees	38,360		39,724		35,738
Property taxes	58,332		54,195		48,586
Total significant expenses	768,682		770,683		729,758

Other segment expenses:
Other hotel expenses(1)	34,981		40,586		43,953

Hotel adjusted EBITDA	316,828		318,614		301,156

Non-cash lease expense and other amortization	5,140		5,970		6,156
Hotel pre-opening and manager transition items	501		1,006		1,246
Impairment losses	1,076		34,169		941
Depreciation and amortization	113,107		113,588		111,302
Corporate expenses	34,404		52,911		32,048
Interest expense	62,798		65,516		65,072
Interest income	(5,615)		(4,013)		(2,442)
Loss on early extinguishment of debt	5,850		—		—

Other (income) expense, net	(1,144)		(324)		(119)
Income tax expense	(1,231)		1,541		317
Consolidated net income	$	101,942	$	48,250	$	86,635

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(1)Other hotel expenses is principally comprised of cash payments for leases and property insurance.

Schedule of Total Assets of Hotel Ownership

The following table presents total assets for our hotel ownership segment, reconciled to total consolidated assets (in thousands):


	Year Ended December 31,
	2025		2024
Hotel ownership	$	2,908,811	$	3,063,835
All other	94,890		108,416
Total assets	$	3,003,701	$	3,172,251