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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues:      
Total revenues $ 1,120,491 $ 1,129,883 $ 1,074,867
Operating expenses:      
Depreciation and amortization 113,107 113,588 111,302
Impairment losses 1,076 34,169 941
Corporate expenses 34,404 52,911 32,048
Business interruption insurance income 0 0 (647)
Total operating expenses, net 957,891 1,018,913 925,404
Interest expense 62,798 65,516 65,072
Interest (income) and other (income) expense, net (6,759) (4,337) (2,561)
Loss on debt extinguishment 5,850 0 0
Total other expenses, net 61,889 61,179 62,511
Income before income taxes 100,711 49,791 86,952
Income tax benefit (expense) 1,231 (1,541) (317)
Net income 101,942 48,250 86,635
Less: Net income attributable to noncontrolling interests (509) (203) (295)
Net income attributable to the Company 101,433 48,047 86,340
Distributions to preferred stockholders (9,817) (9,817) (9,817)
Net income attributable to common stockholders $ 91,616 $ 38,230 $ 76,523
Earnings per share:      
Earnings per share available to common stockholders—basic (in dollars per share) $ 0.44 $ 0.18 $ 0.36
Earnings per share available to common stockholders—diluted (in dollars per share) $ 0.44 $ 0.18 $ 0.36
Weighted-average number of common shares outstanding:      
Basic (in shares) 206,226,487 210,286,342 211,518,826
Diluted (in shares) 208,264,530 211,240,170 212,304,117
Comprehensive income:      
Net income $ 101,942 $ 48,250 $ 86,635
Other comprehensive income:      
Unrealized gain (loss) on interest rate derivative instruments (4,677) 353 (2,634)
Unrealized loss on Rabbi trust assets 349 326 591
Amounts reclassified from other comprehensive income (718) 0 0
Comprehensive income 96,896 48,929 84,592
Comprehensive income attributable to noncontrolling interests (484) (209) (288)
Comprehensive income attributable to the Company 96,412 48,720 84,304
Rooms      
Revenues:      
Total revenues 728,606 742,626 717,447
Operating expenses:      
Operating expenses 182,694 186,131 176,765
Food and beverage      
Revenues:      
Total revenues 281,793 281,682 259,757
Operating expenses:      
Operating expenses 191,172 193,331 180,546
Other      
Revenues:      
Total revenues 110,092 105,575 97,663
Operating expenses:      
Operating expenses 270,698 268,563 261,536
Management fees      
Operating expenses:      
Operating expenses 25,838 27,149 24,998
Franchise fees      
Operating expenses:      
Operating expenses 38,360 39,724 35,738
Other property-level expenses      
Operating expenses:      
Operating expenses $ 100,542 $ 103,347 $ 102,177