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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net loss $ (9,223) $ (1,255)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 5,487 4,756
Net (gain) loss on disposition of assets 10 (23)
Net loss on derivatives and convertible debt 740 693
Equity in earnings of joint venture (80) (679)
Distributions from cumulative earnings of joint venture   3
Amortization of deferred financing costs 545 695
Stock-based compensation expense 166 760
Provision for deferred taxes (421) 619
Changes in operating assets and liabilities:    
Increase in assets (520) (2,359)
Increase in liabilities 1,435 1,160
Net cash provided by (used in) operating activities (1,861) 4,370
Cash flows from investing activities:    
Additions to hotel properties (292) (1,070)
Distributions in excess of cumulative earnings from joint venture 480 850
Hotel acquisitions, net of cash acquired (7,193)  
Net proceeds from sale of hotel assets 2 4,189
Net cash provided by (used in) investing activities (7,003) 3,969
Cash flows from financing activities:    
Deferred financing costs (480) (412)
Proceeds from long-term debt 45,763 1,500
Principal payments on long-term debt (34,832) (4,684)
Redemption of common units   (42)
Tax withholdings on stock compensation (20) (166)
Deposit on strategic alternatives 500  
Cash dividends paid to common shareholders   (4,642)
Cash dividends paid to common unit holders   (23)
Cash dividends paid to preferred shareholders   (145)
Other items (2)  
Net cash provided by (used in) financing activities 10,929 (8,614)
Increase (decrease) in cash, cash equivalents, and restricted cash 2,065 (275)
Cash, cash equivalents, and restricted cash beginning of period 8,395 9,156
Cash, cash equivalents, and restricted cash end of period 10,460 8,881
Supplemental cash flow information:    
Interest paid 3,213 3,519
Income taxes paid, net of refunds 114 67
Schedule of noncash investing and financing activities:    
Debt assumed in acquisition 34,080
Increase in accrued liabilities related to insurance premium financing agreement 823 $ 375
Land option liability in acquisition $ 8,497