Condensed Consolidated Statements Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
OPERATING ACTIVITIES
Net (loss) income	$ (5,913)	$ 623
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	36,774	37,230
Amortization of debt issuance costs	1,997	1,673
Loss on write-down of assets	3,641	0
Equity-based compensation	2,001	1,916
Deferred tax expense	467	325
Loss (gain) on disposal of assets, net	40	(1)
Other	273	160
Changes in operating assets and liabilities:
Trade receivables, net	(6,261)	(4,943)
Prepaid expenses and other	(7,574)	(6,149)
Accounts payable	(821)	(760)
Accrued expenses and other	3,478	(4,224)
NET CASH PROVIDED BY OPERATING ACTIVITIES	28,102	25,850
INVESTING ACTIVITIES
Improvements to lodging properties	(11,941)	(15,724)
Investment in lodging property under development	0	(2,390)
Proceeds from asset dispositions, net	12,007	1,242
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	66	(16,872)
FINANCING ACTIVITIES
Proceeds from borrowings on revolving line of credit	45,000	30,000
Repayments of revolving line of credit borrowings	(20,000)	(10,000)
Scheduled principal payments on mortgage debt	(189)	(648)
Repurchases of common shares	(5,973)	0
Proceeds from term loan	275,000	0
Repayment on Convertible Notes	(287,500)	0
Repayment on term loan	(7,300)	0
Common dividends and distributions paid	(9,624)	(9,957)
Preferred dividends and distributions paid	(4,627)	(4,627)
Contributions by non-controlling interests in joint venture	0	411
Distributions to joint venture partners	(2,542)	(431)
Financing fees, debt transaction costs and other issuance costs	(297)	(4,166)
Repurchase of common stock for tax withholding requirements	(894)	(1,586)
NET CASH USED IN FINANCING ACTIVITIES	(18,946)	(1,004)
Net change in cash, cash equivalents and restricted cash	9,222	7,974
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Beginning of period	41,212	48,358
End of period	50,434	56,332
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEET TO THE AMOUNTS SHOWN IN THE STATEMENT OF CASH FLOWS ABOVE:
Cash and cash equivalents	44,773	48,194
Restricted cash	5,661	8,138
TOTAL CASH, CASH EQUIVALENTS AND RESTRICTED CASH	$ 50,434	$ 56,332