Operating Segment Information (Tables)

9 Months Ended

Sep. 30, 2025

Schedule of Segment Reporting Information, by Segment

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 nine months ended September 30, 2025 and 2024 (in thousands):



	For the three months ended September 30,				For the nine months ended September 30,
	2025		2024		2025		2024
Revenues:
Total revenues	$	398,723	$	404,530	$	1,126,526	$	1,115,709
Less: Corporate and other revenues	259		1,963		846		5,045
Hotel revenues	398,464		402,567		1,125,680		1,110,664
Significant hotel expenses:
Room expenses	70,434		68,721		196,689		188,747
Food and beverage expenses	71,011		71,346		208,237		203,281
Hotel general and administrative	31,391		31,406		92,081		90,202
Hotel sales and marketing	24,631		24,607		72,669		71,260
Hotel operations and maintenance	32,733		31,913		94,628		90,824
Hotel management fee	11,748		12,188		31,333		32,135
Hotel real estate taxes, personal property taxes, property insurance and ground rent	35,616		34,802		102,726		91,187
Other segment items (1)	15,512		14,569		40,123		38,442
Hotel EBITDA	105,388		113,015		287,194		304,586
Depreciation and amortization	(57,602)		(57,546)		(172,790)		(172,051)
Interest expense	(20,180)		(27,925)		(74,595)		(82,285)
Impairment	(46,497)		(1,908)		(46,497)		(1,908)

Business interruption insurance income and gain on insurance settlement	3,874		7,059		11,419		18,340
Income tax (expense) benefit	(3,002)		25,213		(7,652)		24,157
Corporate and other (2)	(14,334)		(12,763)		(42,327)		(40,975)
Net income (loss)	$	(32,353)	$	45,145	$	(45,248)	$	49,864

______________________

(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.