Operating Segment Information

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Operating Segment Information

Operating Segment Information

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 three and six months ended June 30, 2025 and 2024 (in thousands):

	For the three months ended June 30,				For the six months ended June 30,
	2025		2024		2025		2024
Revenues:
Total revenues	$	407,537	$	397,110	$	727,803	$	711,179
Less: Corporate and other revenues	209		1,364		587		3,082
Hotel revenues	407,328		395,746		727,216		708,097
Significant hotel expenses:
Room expenses	67,732		65,003		126,255		120,026
Food and beverage expenses	72,658		70,921		137,226		131,935
Hotel general and administrative	31,579		31,224		60,690		58,796
Hotel sales and marketing	25,083		24,414		48,038		46,653
Hotel operations and maintenance	30,963		30,185		61,895		58,911
Hotel management fee	11,636		11,578		19,585		19,947
Hotel real estate taxes, personal property taxes, property insurance and ground rent	34,063		24,319		67,110		56,385
Other segment items (1)	12,635		12,635		24,611		23,873
Hotel EBITDA	120,979		125,467		181,806		191,571
Depreciation and amortization	(57,645)		(57,296)		(115,188)		(114,505)
Interest expense	(27,282)		(27,939)		(54,415)		(54,360)
Business interruption insurance income	3,242		7,301		7,545		11,281
Income tax (expense) benefit	(7,812)		(1,010)		(4,650)		(1,056)
Corporate and other (2)	(12,197)		(14,284)		(27,993)		(28,212)
Net income (loss)	$	19,285	$	32,239	$	(12,895)	$	4,719

______________________

(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.