XML 58 R47.htm IDEA: XBRL DOCUMENT v3.24.1.u1
DEBT - Schedule of Outstanding Indebtedness (Details)
3 Months Ended
Mar. 31, 2024
USD ($)
property
hotel
Instrument
Dec. 31, 2023
USD ($)
Sep. 30, 2023
USD ($)
Jun. 30, 2023
USD ($)
Mar. 31, 2022
hotel
Mar. 23, 2022
USD ($)
Jan. 31, 2021
USD ($)
Oct. 08, 2019
USD ($)
Dec. 06, 2018
USD ($)
Debt Instrument [Line Items]                  
Number of Encumbered  Properties | property 8                
Principal Balance Outstanding $ 1,467,349,000 $ 1,445,839,000              
Number of promissory notes | Instrument 2                
Hotels                  
Debt Instrument [Line Items]                  
Guestrooms | hotel 99                
Joint Venture with GIC | Hotels | NCI Transaction | Portfolio Purchase Through Contribution And Purchase Agreement                  
Debt Instrument [Line Items]                  
Guestrooms 13       27        
2018 Senior Credit Facility | Joint Venture with GIC | Hotels | NCI Transaction | Portfolio Purchase Through Contribution And Purchase Agreement                  
Debt Instrument [Line Items]                  
Guestrooms | property 26                
$125 Million Revolving Credit Facility | Revolving Credit Facility                  
Debt Instrument [Line Items]                  
Credit facility, maximum borrowing capacity     $ 125,000,000         $ 125,000,000  
$75 Million Term Loan                  
Debt Instrument [Line Items]                  
Debt instrument, face amount     $ 75,000,000         $ 75,000,000  
$75 Million Term Loan | Revolving Credit Facility                  
Debt Instrument [Line Items]                  
Interest Rate 0.25%                
Term Loans with Wells Fargo due June 6, 2028                  
Debt Instrument [Line Items]                  
Number of Encumbered  Properties | property 1                
PACE Loan                  
Debt Instrument [Line Items]                  
Number of Encumbered  Properties | property 1                
PACE Loan | NCI Transaction                  
Debt Instrument [Line Items]                  
Interest Rate           6.10%      
Debt instrument, face amount           $ 6,500,000      
Unsecured debt | 2018 Senior Credit Facility                  
Debt Instrument [Line Items]                  
Principal Balance Outstanding $ 255,000,000 200,000,000              
Number of unencumbered hotel properties | hotel 52                
Credit facility, maximum borrowing capacity       $ 600,000,000         $ 600,000,000
Unsecured debt | $400 Million Revolver                  
Debt Instrument [Line Items]                  
Interest Rate 7.38%                
Principal Balance Outstanding $ 55,000,000 0              
Credit facility, maximum borrowing capacity $ 400,000,000     400,000,000          
Unsecured debt | $200 Million Term Loan                  
Debt Instrument [Line Items]                  
Interest Rate 7.33%                
Principal Balance Outstanding $ 200,000,000 200,000,000              
Credit facility, maximum borrowing capacity 200,000,000                
Debt instrument, face amount 200,000,000     $ 200,000,000          
Unsecured debt | Term Loans                  
Debt Instrument [Line Items]                  
Principal Balance Outstanding 200,000,000 225,000,000              
Unsecured debt | Keybank National Association Term Loan due February 14, 2025                  
Debt Instrument [Line Items]                  
Principal Balance Outstanding $ 0 225,000,000              
Unsecured debt | Regions Bank Term Loan due February 14.2027                  
Debt Instrument [Line Items]                  
Interest Rate 7.32%                
Principal Balance Outstanding $ 200,000,000 0              
Unsecured debt | Joint Venture Credit Facility                  
Debt Instrument [Line Items]                  
Number of Encumbered  Properties | property 4                
Principal Balance Outstanding $ 667,733,000 675,878,000              
Unsecured debt | $125 Million Revolving Credit Facility | Revolving Credit Facility                  
Debt Instrument [Line Items]                  
Interest Rate 7.58%                
Principal Balance Outstanding $ 125,000,000 125,000,000              
Credit facility, maximum borrowing capacity 125,000,000                
Unsecured debt | $75 Million Term Loan                  
Debt Instrument [Line Items]                  
Principal Balance Outstanding 75,000,000 75,000,000              
Debt instrument, face amount $ 75,000,000                
Unsecured debt | $75 Million Term Loan | Revolving Credit Facility                  
Debt Instrument [Line Items]                  
Interest Rate 7.53%                
Unsecured debt | Bank of America, N.A, variable due January 13, 2026                  
Debt Instrument [Line Items]                  
Interest Rate 8.19%                
Principal Balance Outstanding $ 402,021,000 410,000,000              
Unsecured debt | Term Loans with Wells Fargo due June 6, 2028                  
Debt Instrument [Line Items]                  
Interest Rate 4.99%                
Principal Balance Outstanding $ 12,720,000 12,785,000              
Unsecured debt | PACE Loan                  
Debt Instrument [Line Items]                  
Interest Rate 6.10%                
Principal Balance Outstanding $ 5,992,000 6,093,000              
Unsecured debt | GIC Joint Venture Credit Facility and Term Loans                  
Debt Instrument [Line Items]                  
Number of Encumbered  Properties | property 2                
Principal Balance Outstanding $ 620,733,000 628,878,000              
Convertible notes                  
Debt Instrument [Line Items]                  
Principal Balance Outstanding $ 287,500,000 287,500,000              
Convertible notes | Convertible senior notes due 2026                  
Debt Instrument [Line Items]                  
Interest Rate 1.50%           1.50%    
Principal Balance Outstanding $ 287,500,000 287,500,000              
Debt instrument, face amount             $ 287,500,000    
Mortgage loans                  
Debt Instrument [Line Items]                  
Principal Balance Outstanding $ 122,828,000 123,339,000              
Mortgage loans | Meta Bank 4.44% Fixed due July 1, 2027                  
Debt Instrument [Line Items]                  
Interest Rate 4.44%                
Number of Encumbered  Properties | property 3                
Principal Balance Outstanding $ 42,400,000 42,611,000              
Mortgage loans | Bank Of Cascades Variable due December 19, 2024, Note A                  
Debt Instrument [Line Items]                  
Interest Rate 7.32%                
Number of Encumbered  Properties | property 1                
Principal Balance Outstanding $ 7,358,000 7,425,000              
Mortgage loans | Bank Of Cascades 4.30% Fixed due December 19, 2024, Note B                  
Debt Instrument [Line Items]                  
Interest Rate 4.30%                
Principal Balance Outstanding $ 7,358,000 7,425,000              
Mortgage loans | Secured Mortgage Indebtedness                  
Debt Instrument [Line Items]                  
Number of Encumbered  Properties | property 4                
Principal Balance Outstanding $ 57,116,000 57,461,000              
Mortgage loans | City National Bank of Florida, Variable Due June 9, 2025                  
Debt Instrument [Line Items]                  
Interest Rate 8.32%                
Number of Encumbered  Properties | property 2                
Principal Balance Outstanding $ 47,000,000 47,000,000              
Loans Payable                  
Debt Instrument [Line Items]                  
Number of Encumbered  Properties | property                
Principal Balance Outstanding $ 799,616,000 $ 769,961,000