Segment Information

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Segment Information

Note 12. Segment Information

We aggregate our hotels and net lease portfolio into two reportable segments, hotel investments and net lease investments , based on their similar operating and economic characteristics.

	For the Three Months Ended March 31, 2020
	Hotels		Net Lease			Corporate			Consolidated
Revenues:
Hotel operating revenues	$	383,503	$	—		$	—		$	383,503
Rental income	807		99,265			—			100,072
FF&E reserve income	201		—			—			201
Total revenues	384,511		99,265			—			483,776
Expenses:
Hotel operating expenses	271,148		—			—			271,148
Other operating expenses	—		3,759			—			3,759
Depreciation and amortization	67,669		60,257			—			127,926
General and administrative	—		—			14,024			14,024
Loss on asset impairment	—		16,740			—			16,740
Total expenses	338,817		80,756			14,024			433,597
Gain (loss) on sale of real estate	—		(6,911		)	—			(6,911		)
Unrealized losses on equity securities	—		—			(5,045		)	(5,045		)
Interest income	147		—			115			262
Interest expense	—		—			(71,075		)	(71,075		)
Income (loss) before income taxes and equity in earnings of an investee	45,841		11,598			(90,029		)	(32,590		)
Income tax expense	—		—			(342		)	(342		)
Equity in losses of an investee	—		—			(718		)	(718		)
Net income (loss)	$	45,841	$	11,598		$	(91,089	)	$	(33,650	)
	As of March 31, 2020
	Hotels		Net Lease			Corporate			Consolidated
Total assets	$	4,846,566	$	3,960,512		$	189,545		$	8,996,623

	For the Three Months Ended March 31, 2019
	Hotels		Net Lease		Corporate			Consolidated
Revenues:
Hotel operating revenues	$	454,863	$	—	$	—		$	454,863
Rental income	5,598		63,075		—			68,673
FF&E reserve income	1,372		—		—			1,372
Total revenues	461,833		63,075		—			524,908
Expenses:
Hotel operating expenses	317,685		—		—			317,685
Other operating expenses	—		1,440		—			1,440
Depreciation and amortization	66,583		32,782		—			99,365
General and administrative	—		—		12,235			12,235
Total expenses	384,268		34,222		12,235			430,725
Gain on sale of real estate	—		159,535		—			159,535
Dividend income	—		—		876			876
Unrealized gains and losses on equity securities, net	—		—		20,977			20,977
Interest income	434		—		203			637
Interest expense	—		—		(49,766		)	(49,766		)
Income (loss) before income taxes and equity in earnings of an investee	77,999		188,388		(39,945		)	226,442
Income tax expense	—		—		(1,059		)	(1,059		)
Equity in earnings of an investee	—		—		404			404
Net income (loss)	$	77,999	$	188,388	$	(40,600	)	$	225,787
	As of December 31, 2019
	Hotels		Net Lease		Corporate			Consolidated
Total assets	$	4,866,549	$	4,042,831	$	124,587		$	9,033,967