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Debt (Tables)
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Debt
The Company's debt consisted of the following as of March 31, 2025 and December 31, 2024 (dollars in thousands):
   Balance Outstanding as of
 
Interest Rate at March 31, 2025
Maturity DateMarch 31, 2025December 31, 2024
Revolving credit facilities
Senior unsecured credit facility—
(1)(2)
October 2026 /
October 2028		$— $— 
PHL unsecured credit facility—
(1)
October 2028— — 
Revolving credit facilities$— $— 
Unsecured term loans
Term Loan 20255.15%
(1)
October 202514,783 14,783 
Term Loan 20275.53%
(1)
October 2027360,000 360,000 
Term Loan 20283.86%
(1)
January 2028356,652 356,652 
Term Loan 20295.15%
(1)
January 2029185,217 185,217 
Unsecured term loans principal$916,652 $916,652 
Convertible senior notes principal1.75%December 2026$750,000 $750,000 
Senior unsecured notes
Series B Notes4.93%December 20252,400 2,400 
Senior Notes 20296.38%October 2029400,000 400,000 
Senior unsecured notes principal$402,400 $402,400 
Mortgage loans
Margaritaville Hollywood Beach Resort7.04%
(3)
September 2026140,000 140,000 
Estancia La Jolla Hotel & Spa5.07%September 202854,864 55,413 
Mortgage loans principal$194,864 $195,413 
Total debt principal$2,263,916 $2,264,465 
Unamortized debt premiums, discount and deferred financing costs, net(16,478)(17,733)
Debt, net$2,247,438 $2,246,732 
______________________
(1)    Borrowings bear interest at floating rates. Interest rate at March 31, 2025 gives effect to interest rate hedges.
(2)    $48.0 million of the $650.0 million senior unsecured revolving credit facility matures in October 2026, with no option to extend the maturity date, and the remaining $602.0 million matures in October 2028, with the option to extend the maturity date for up to two six-month periods, subject to certain terms and conditions and payment of an extension fee.
(3)    This loan bears interest at a floating rate equal to daily SOFR plus a spread of 3.75%. The interest rate at March 31, 2025 gives effect to an interest rate swap. The Company has the option to extend the maturity date for up to two one-year periods, subject to certain terms and conditions and payment of an extension fee.
Schedule of Components of Interest Expense
The components of the Company's interest expense consisted of the following for the three months ended March 31, 2025 and 2024 (in thousands):
For the three months ended March 31,
20252024
Unsecured revolving credit facilities$497 $498 
Unsecured term loan facilities10,971 18,912 
Convertible senior notes3,281 3,281 
Senior unsecured notes6,192 30 
Mortgage debt3,163 3,225 
Amortization of deferred financing fees, (premiums) and discounts1,910 3,071 
Other1,119 (2,596)
Total interest expense$27,133 $26,421 
Schedule of Interest Rate Swaps
The Company's interest rate swaps at March 31, 2025 and December 31, 2024 consisted of the following, by maturity date (dollars in thousands):
Aggregate Notional Value as of
Hedge TypeInterest Rate Range (SOFR)MaturityMarch 31, 2025December 31, 2024
Swap-cash flow
3.22% - 3.25%
October 2025$200,000 $200,000 
Swap-cash flow
1.33% - 1.36%
February 2026290,000 290,000 
Swap-cash flow
3.02% - 3.03%
October 2026200,000 200,000 
Swap-cash flow
3.29%
October 2027165,000 165,000 
Total$855,000 $855,000