Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Operating activities:
Net income (loss)	$ (32,180)	$ (27,520)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	57,543	57,209
Benefit for deferred income taxes	(3,105)	0
Share-based compensation	3,220	3,060
Amortization of deferred financing costs, non-cash interest and other amortization	2,985	4,078
Non-cash ground rent	2,448	2,462
Other adjustments	1,215	(1,528)
Changes in assets and liabilities:
Hotel receivables	(3,966)	(9,674)
Prepaid expenses and other assets	4,077	3,181
Accounts payable and accrued expenses	5,227	3,002
Deferred revenues	12,877	11,730
Net cash provided by (used in) operating activities	50,341	46,000
Investing activities:
Improvements and additions to hotel properties	(20,658)	(49,480)
Property insurance proceeds	0	11,500
Other investing activities	(206)	(533)
Net cash provided by (used in) investing activities	(20,864)	(38,513)
Financing activities:
Payment of deferred financing costs	(48)	(5,484)
Repayments of debt	(549)	(110,348)
Repurchases of common shares	(14,612)	(6,851)
Distributions — common shares/units	(1,215)	(1,229)
Distributions — preferred shares/units	(11,795)	(11,795)
Other financing activities	(663)	(447)
Net cash provided by (used in) financing activities	(28,882)	(136,154)
Net change in cash and cash equivalents and restricted cash	595	(128,667)
Cash and cash equivalents and restricted cash, beginning of year	217,591	193,641
Cash and cash equivalents and restricted cash, end of period	$ 218,186	$ 64,974