Operating Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Segment Reporting Information, by Segment

The following table presents the Company's segment hotel revenues, Hotel EBITDA, including significant hotel expenses and its reconciliation to Net income (loss) for the years ended December 31, 2024, 2023 and 2022.


	(in thousands)
	For the year ended December 31,
	2024		2023		2022
Revenues:
Total revenues	$	1,453,309	$	1,419,949	$	1,391,891
Less: Corporate and other revenues	7,084		10,484		8,607
Hotel revenues	1,446,225		1,409,465		1,383,284
Significant hotel expenses:
Room expenses	250,875		248,020		225,992
Food and beverage expenses	273,731		264,163		243,543
Hotel general and administrative	119,308		120,122		116,183
Hotel sales and marketing	94,490		94,187		86,483
Hotel operations and maintenance	120,677		119,277		111,191
Hotel management fee	42,326		40,782		41,304
Hotel real estate taxes, personal property taxes, property insurance and ground rent	124,142		120,062		122,194
Other segment items (1)	51,507		51,565		51,969
Hotel EBITDA	369,169		351,287		384,425
Depreciation and amortization	(229,531)		(240,645)		(239,583)
Interest expense	(112,432)		(115,660)		(99,988)
Impairment	(48,146)		(81,788)		(89,633)
Gain on sale of hotel properties	—		30,375		6,194
Business interruption insurance income and gain on insurance settlement	48,574		32,985		—
Income tax (expense) benefit	25,628		(655)		(277)
Corporate and other (2)	(53,246)		(50,175)		(46,119)
Net income (loss)	$	16	$	(74,276)	$	(84,981)

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(1) Other segment items include expenses incurred for parking, spa, franchise fees and other hotel operating expenses.

(2) Corporate and other include corporate general and administrative and other operating income and expenses.