Segment Information

6 Months Ended

Jun. 30, 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 June 30, 2020
	Hotels			Net Lease			Corporate			Consolidated
Revenues:
Hotel operating revenues	$	117,356		$	—		$	—		$	117,356
Rental income	1,992			95,592			—			97,584
FF&E reserve income	—			—			—			—
Total revenues	119,348			95,592			—			214,940
Expenses:
Hotel operating expenses	46,957			—			—			46,957
Other operating expenses	—			3,565			—			3,565
Depreciation and amortization	67,898			59,529			—			127,427
General and administrative	—			—			11,302			11,302
Loss on asset impairment	22,361			6,153			—			28,514
Total expenses	137,216			69,247			11,302			217,765
Loss on sale of real estate	—			(2,853		)	—			(2,853		)
Gain on insurance settlement	62,386			—			—			62,386
Unrealized gain on equity securities	—			—			3,848			3,848
Interest income	15			—			—			15
Interest expense	—			—			(72,072		)	(72,072		)
Loss on early extinguishment of debt	—			—			(6,970		)	(6,970		)
Income (loss) before income taxes and equity in earnings of an investee	44,533			23,492			(86,496		)	(18,471		)
Income tax expense	—			—			(16,660		)	(16,660		)
Equity in losses of an investee	(2,218		)	—			—			(2,218		)
Net income (loss)	$	42,315		$	23,492		$	(103,156	)	$	(37,349	)
	For the Six Months Ended June 30, 2020
	Hotels			Net Lease			Corporate			Consolidated
Revenues:
Hotel operating revenues	$	500,859		$	—		$	—		$	500,859
Rental income	2,372			195,284			—			197,656
FF&E reserve income	201			—			—			201
Total revenues	503,432			195,284			—			698,716
Expenses:
Hotel operating expenses	318,105			—			—			318,105
Other operating expenses	—			7,324			—			7,324
Depreciation and amortization	135,438			119,915			—			255,353
General and administrative	—			—			25,326			25,326
Loss on asset impairment	22,361			22,893			—			45,254
Total expenses	475,904			150,132			25,326			651,362
Loss on sale of real estate	—			(9,764		)	—			(9,764		)
Gain on insurance settlement	62,386			—			—			62,386
Unrealized losses on equity securities	—			—			(1,197		)	(1,197		)
Interest income	162			—			115			277
Interest expense	—			—			(143,147		)	(143,147		)
Loss on early extinguishment of debt	—			—			(6,970		)	(6,970		)
Income (loss) before income taxes and equity in earnings of an investee	90,076			35,388			(176,525		)	(51,061		)
Income tax expense	—			—			(17,002		)	(17,002		)
Equity in losses of an investee	(2,936		)	—			—			(2,936		)
Net income (loss)	$	87,140		$	35,388		$	(193,527	)	$	(70,999	)
	As of June 30, 2020
	Hotels			Net Lease			Corporate			Consolidated
Total assets	$	4,972,731		$	3,869,686		$	37,128		$	8,879,545

	For the Three Months Ended June 30, 2019
	Hotels		Net Lease		Corporate			Consolidated
Revenues:
Hotel operating revenues	$	541,215	$	—	$	—		$	541,215
Rental income	5,074		63,143		—			68,217
FF&E reserve income	1,130		—		—			1,130
Total revenues	547,419		63,143		—			610,562
Expenses:
Hotel operating expenses	380,431		—		—			380,431
Other operating expenses	—		1,272		—			1,272
Depreciation and amortization	66,900		32,296		—			99,196
General and administrative	—		—		12,207			12,207
Total expenses	447,331		33,568		12,207			493,106
Dividend income	—		—		876			876
Unrealized loss on equity securities	—		—		(60,788		)	(60,788		)
Interest income	216		—		233			449
Interest expense	—		—		(49,601		)	(49,601		)
Income (loss) before income taxes and equity in earnings of an investee	100,304		29,575		(121,487		)	8,392
Income tax benefit	—		—		260			260
Equity in earnings of an investee	—		—		130			130
Net income (loss)	$	100,304	$	29,575	$	(121,097	)	$	8,782
	For the Six Months Ended June 30, 2019
	Hotels		Net Lease		Corporate			Consolidated
Revenues:
Hotel operating revenues	$	996,078	$	—	$	—		$	996,078
Rental income	10,148		126,742		—			136,890
FF&E reserve income	2,502		—		—			2,502
Total revenues	1,008,728		126,742		—			1,135,470
Expenses:
Hotel operating expenses	698,116		—		—			698,116
Other operating expenses	—		2,712		—			2,712
Depreciation and amortization	133,365		65,196		—			198,561
General and administrative	—		—		24,442			24,442
Total expenses	831,481		67,908		24,442			923,831
Gain on sale of real estate	—		159,535		—			159,535
Dividend income	—		—		1,752			1,752
Unrealized loss on equity securities	—		—		(39,811		)	(39,811		)
Interest income	427		—		659			1,086
Interest expense	—		—		(99,367		)	(99,367		)
Income (loss) before income taxes and equity in earnings of an investee	177,674		218,369		(161,209		)	234,834
Income tax expense	—		—		(799		)	(799		)
Equity in earnings of an investee	—		—		534			534
Net income (loss)	$	177,674	$	218,369	$	(161,474	)	$	234,569
	As of December 31, 2019
	Hotels		Net Lease		Corporate			Consolidated
Total assets	$	4,866,549	$	4,042,831	$	124,587		$	9,033,967