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Stock Incentive Plans (Tables) | 12 Months Ended
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Dec. 31, 2020
Share-based Payment Arrangement [Abstract] |
Schedule of Share Based Compensation Restricted Stock Activity | A summary of our restricted stock awards from January 1, 2018 to December 31, 2020 is as follows:
| Number of Shares |  | Weighted- Average Grant Date Fair Value
Unvested balance at January 1, 2018 | 630,962 |  |  | $ | 10.66 |
Granted | 349,091 |  |  | 10.19 |
Forfeited | (51,061) |  |  | 10.44 |
Vested | (287,148) |  |  | 11.02 |
Unvested balance at December 31, 2018 | 641,844 |  |  | 10.25 |
Granted | 162,806 |  |  | 10.38 |
Forfeited | (21,534) |  |  | 10.37 |
Vested | (310,117) |  |  | 10.08 |
Unvested balance at December 31, 2019 | 472,999 |  |  | 10.40 |
Granted | 344,997 |  |  | 9.39 |
Forfeited | (22,857) |  |  | 7.73 |
Vested | (237,866) |  |  | 10.54 |
Unvested balance at December 31, 2020 | 557,273 |  |  | $ | 9.83 |
Schedule of Performance Shares Issued | The ratio of total PSUs issued to executive officers is divided between the two metrics as follows:
Grant Year |  | Vesting Year |  | Total Shareholder Return |  | Hotel Market Share
2015 |  | 2018 |  | 100 | % |  | — | %
2016 |  | 2019 |  | 75 | % |  | 25 | %
2017 |  | 2020 |  | 50 | % |  | 50 | %
2018 |  | 2021 |  | 50 | % | (1) | 50 | %
2019 |  | 2022 |  | 50 | % | (1) | 50 | %
2020 |  | 2023 |  | 50 | % | (1) | 50 | %
______________________ (1)The number of PSUs to be earned is limited to target if the Company's total stockholder return is negative for the performance period.
Fair Value Valuation Assumptions | The determination of the grant-date fair values of outstanding awards based on our relative total stockholder return included the following assumptions:
Award Grant Date |  | Volatility |  | Risk-Free Rate |  | Fair Value at Grant Date
March 2, 2018 |  | 26.9 | % |  | 2.40 | % |  | $ | 9.52 |
April 2, 2018 |  | 26.9 | % |  | 2.37 | % |  | $ | 9.00 |
March 1, 2019 |  | 24.3 | % |  | 2.54 | % |  | $ | 9.68 |
February 25, 2020 |  | 21.4 | % |  | 1.16 | % |  | $ | 8.52 |
Schedule of Nonvested Performance-based Units Activity | A summary of our PSUs from January 1, 2018 to December 31, 2020 is as follows:
| Number of Units |  | Weighted- Average Grant Date Fair Value
Unvested balance at January 1, 2018 | 785,797 |  |  | $ | 10.42 |
Granted | 293,111 |  |  | 9.82 |
Additional units from dividends | 35,197 |  |  | 11.24 |
Vested (1) | (218,514) |  |  | 11.98 |
Forfeited | (113,668) |  |  | 9.86 |
Unvested balance at December 31, 2018 | 781,923 |  |  | 11.19 |
Granted | 296,050 |  |  | 10.14 |
Additional units from dividends | 40,662 |  |  | 10 |
Vested (2) | (251,375) |  |  | 8.80 |
Forfeited | (70,728) |  |  | 9.93 |
Unvested balance at December 31, 2019 | 796,532 |  |  | 11.16 |
Granted | 352,035 |  |  | 9.02 |
Additional units from dividends | 9,556 |  |  | 10.42 |
Vested (3) | (245,937) |  |  | 11.00 |
Unvested balance at December 31, 2020 | 912,186 |  |  | $ | 9.63 |
______________________ (1)The number of shares of common stock earned for the PSUs vested in 2018 was equal to 51.75% of the PSU Target Award (2)The number of shares of common stock earned for the PSUs vested in 2019 was equal to 74.33% of the PSU Target Award. (3)The number of shares of common stock earned for the PSUs vested in 2020 was equal to 123.07% of the PSU Target Award.
Summary of LTIP units | A summary of our LTIP units from January 1, 2019 to December 31, 2020 is as follows:
| Number of Units |  | Weighted- Average Grant Date Fair Value
Unvested balance at January 1, 2019 | — |  |  | $ | — |
Granted | 281,925 |  |  | 10.65
Forfeited | (37.559) |  |  | 10.65
Unvested balance at December 31, 2019 | 244,366 |  |  | 10.65 |
Granted | 80,898 |  |  | 9.58
Vested | (81,455) |  |  | 10.65
Unvested balance at December 31, 2020 | 243,809 |  |  | $ | 10.29 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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