Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2025

Commitments and Contingencies Disclosure [Abstract]

Schedule of Hotels Subject to Leases

As of June 30, 2025, the following hotels were subject to leases as follows:

Lease Properties	Lease Type	Lease Expiration Date
Restaurant at Southernmost Beach Resort	Operating lease	April 2029
Paradise Point Resort & Spa	Operating lease	May 2050
Harbor Court Hotel San Francisco	Finance lease	August 2052
Hotel Monaco Washington DC	Operating lease	November 2059
Argonaut Hotel	Operating lease	December 2059
Hotel Zephyr Fisherman's Wharf and Retail	Operating lease	February 2062
Viceroy Santa Monica Hotel	Operating lease	September 2065
Estancia La Jolla Hotel & Spa	Operating lease	January 2066
San Diego Mission Bay Resort	Operating lease	July 2068
1 Hotel San Francisco	Operating lease	March 2070	(1)
Hyatt Regency Boston Harbor	Operating lease	April 2077
The Westin Copley Place, Boston	Operating lease	December 2077	(2)
The Liberty, a Luxury Collection Hotel, Boston	Operating lease	May 2080
Jekyll Island Club Resort and Restaurant	Operating lease	January 2089
80 Rooms at Hotel Zeppelin San Francisco	Operating and finance lease	June 2089	(4)
Hotel Zelos San Francisco	Operating lease	June 2097
Hotel Palomar Los Angeles Beverly Hills	Operating lease	January 2107	(3)
Margaritaville Hollywood Beach Resort	Operating lease	July 2112

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(1)     The expiration date assumes the exercise of a 14-year extension option.

(2)     No payments are required through maturity.

(3)     The expiration date assumes the exercise of all 19 five-year extension options.

(4)     Property is owned, with the exception of 80 rooms in an adjoining building that are subject to a lease agreement. The expiration date assumes the exercise of a 30-year extension option.

Schedule of Components of Ground Rent Expense

The components of ground rent expense for the three and six months ended June 30, 2025 and 2024 are as follows (in thousands):

	For the three months ended June 30,				For the six months ended June 30,
	2025		2024		2025		2024
Fixed ground rent	$	4,825	$	4,796	$	9,635	$	9,592
Variable ground rent	5,128		5,057		9,314		9,063
Total ground rent	$	9,953	$	9,853	$	18,949	$	18,655