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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues:      
Total revenues $ 1,453,309 $ 1,419,949 $ 1,391,891
Hotel operating expenses:      
Total hotel operating expenses 961,003 941,080 883,474
Depreciation and amortization 229,531 240,645 239,583
Real estate taxes, personal property taxes, property insurance, and ground rent 126,183 124,595 126,134
General and administrative 48,081 44,789 39,187
Impairment 48,146 81,788 89,633
Gain on sale of hotel properties 0 (30,375) (6,194)
Business interruption insurance income and gain on insurance settlement (48,574) (32,985) 0
Other operating expenses 4,913 12,602 5,352
Total operating expenses 1,369,283 1,382,139 1,377,169
Operating income (loss) 84,026 37,810 14,722
Interest expense (112,432) (115,660) (99,988)
Other 2,794 4,229 562
Income (loss) before income taxes (25,612) (73,621) (84,704)
Income tax (expense) benefit 25,628 (655) (277)
Net income (loss) 16 (74,276) (84,981)
Net income (loss) attributable to non-controlling interests 4,258 3,741 2,190
Net income (loss) attributable to the Company (4,242) (78,017) (87,171)
Distributions to preferred shareholders (42,525) (43,649) (45,074)
Redemption of preferred shares 0 8,396 8,186
Net income (loss) attributable to common shareholders $ (46,767) $ (113,270) $ (124,059)
Net income (loss) per share available to common shareholders, basic (in usd per share) $ (0.39) $ (0.93) $ (0.95)
Net income (loss) per share available to common shareholders, diluted (in usd per share) $ (0.39) $ (0.93) $ (0.95)
Weighted-average number of common shares, basic (in shares) 119,774,655 121,813,042 130,453,944
Weighted-average number of common shares, diluted (in shares) 119,774,655 121,813,042 130,453,944
Room      
Revenues:      
Total revenues $ 922,348 $ 914,109 $ 910,936
Hotel operating expenses:      
Total hotel operating expenses 250,875 248,020 225,992
Food and beverage      
Revenues:      
Total revenues 372,369 351,852 346,702
Hotel operating expenses:      
Total hotel operating expenses 273,731 264,163 243,543
Other      
Revenues:      
Total revenues 158,592 153,988 134,253
Hotel operating expenses:      
Total hotel operating expenses $ 436,397 $ 428,897 $ 413,939