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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues:        
Total revenues $ 398,723 $ 404,530 $ 1,126,526 $ 1,115,709
Hotel operating expenses:        
Total hotel operating expenses 259,052 257,020 740,052 720,733
Depreciation and amortization 57,602 57,546 172,790 172,051
Real estate taxes, personal property taxes, property insurance, and ground rent 35,404 35,274 102,655 92,681
General and administrative 12,062 11,814 37,792 35,937
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)
Other operating expenses 2,188 963 3,216 4,083
Total operating expenses 408,931 357,466 1,091,583 1,009,053
Operating income (loss) (10,208) 47,064 34,943 106,656
Interest expense (20,180) (27,925) (74,595) (82,285)
Other, net 1,037 793 2,056 1,336
Income (loss) before income taxes (29,351) 19,932 (37,596) 25,707
Income tax (expense) benefit (3,002) 25,213 (7,652) 24,157
Net income (loss) (32,353) 45,145 (45,248) 49,864
Net income (loss) attributable to non-controlling interests 714 1,488 2,710 3,621
Net income (loss) attributable to the Company (33,067) 43,657 (47,958) 46,243
Distributions to preferred shareholders (10,611) (10,631) (31,874) (31,894)
Repurchase of preferred shares 312 0 312 0
Net income (loss) attributable to common shareholders $ (43,366) $ 33,026 $ (79,520) $ 14,349
Net income (loss) per share available to common shareholders, basic (in usd per share) $ (0.37) $ 0.27 $ (0.67) $ 0.12
Net income (loss) per share available to common shareholders, diluted (in usd per share) $ (0.37) $ 0.24 $ (0.67) $ 0.12
Weighted-average number of common shares, basic (in shares) 117,555,628 119,640,463 118,304,722 119,938,931
Weighted-average number of common shares, diluted (in shares) 117,555,628 149,351,866 118,304,722 120,367,351
Room        
Revenues:        
Total revenues $ 254,613 $ 262,755 $ 709,223 $ 714,633
Hotel operating expenses:        
Total hotel operating expenses 70,434 68,721 196,689 188,747
Food and beverage        
Revenues:        
Total revenues 96,239 95,998 288,543 278,613
Hotel operating expenses:        
Total hotel operating expenses 71,011 71,346 208,237 203,281
Other operating        
Revenues:        
Total revenues 47,871 45,777 128,760 122,463
Hotel operating expenses:        
Total hotel operating expenses $ 117,607 $ 116,953 $ 335,126 $ 328,705