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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net loss $ (14,032) $ (3,243)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 8,267 7,161
Net (gain) loss on disposition of assets 13 (9)
Net loss on derivatives and convertible debt 609 916
Equity in earnings of joint venture (80) (595)
Distributions from cumulative earnings of joint venture   170
Amortization of deferred financing costs 829 981
Stock-based compensation expense 236 901
Provision / benefit for deferred taxes (421) 613
Changes in operating assets and liabilities:    
(Increase) decrease in assets (162) 477
Increase in liabilities 2,469 2,233
Net cash provided by (used in) operating activities (2,272) 9,605
Cash flows from investing activities:    
Additions to hotel properties (414) (1,229)
Distributions in excess of cumulative earnings from joint venture 480 1,643
Hotel acquisitions, net of cash acquired (7,193)  
Net proceeds from sale of hotel assets 2 4,186
Net cash provided by (used in) investing activities (7,125) 4,600
Cash flows from financing activities:    
Deferred financing costs (480) (415)
Proceeds from long-term debt 45,763 1,500
Principal payments on long-term debt (34,878) (4,979)
Redemption of common units   (42)
Tax withholdings on stock compensation (25) (181)
Cash dividends paid to common shareholders   (6,965)
Cash dividends paid to common unit holders   (34)
Cash dividends paid to preferred shareholders   (289)
Other items   (4)
Net cash provided by (used in) financing activities 10,380 (11,409)
Increase in cash, cash equivalents, and restricted cash 983 2,796
Cash, cash equivalents, and restricted cash beginning of period 8,395 9,156
Cash, cash equivalents, and restricted cash end of period 9,378 11,952
Supplemental cash flow information:    
Interest paid 4,852 5,197
Income taxes paid, net of refunds 119 67
Schedule of noncash investing and financing activities:    
Debt assumed in acquisition 34,080
Increase in accrued liabilities related to insurance premium financing agreement 516 $ 253
Land option liability in acquisition $ 8,497