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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Cash flows from operating activities:              
Net income $ 27,330 $ 9,188 $ 28,555 $ 10,060 $ 75,652 $ 91,316  
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation and amortization 27,683   27,053   82,995 81,097  
Corporate asset depreciation as corporate expenses         150 167  
Loss on early extinguishment of debt 0   9,698   0 9,698  
Non-cash lease expense and other amortization         4,620 4,675  
Non-cash interest rate swap fair value adjustment         2,033 (14,002)  
Amortization of debt issuance costs         1,540 1,963  
Impairment losses         941 2,843  
Amortization of deferred income related to key money         (323) (315)  
Share-based compensation         6,740 5,852  
Changes in assets and liabilities:              
Prepaid expenses and other assets         (2,022) (7,505)  
Due to/from hotel managers         7,377 (24,585)  
Accounts payable and accrued expenses         4,983 6,821  
Net cash provided by operating activities         184,686 158,025  
Cash flows from investing activities:              
Capital expenditures         (67,449) (44,588)  
Acquisition of interest in land         (1,833) 0  
Property acquisitions         (31,894) (106,184)  
Receipt of deferred key money         0 1,000  
Net cash used in investing activities         (101,176) (149,772)  
Cash flows from financing activities:              
Scheduled mortgage debt principal payments         (7,109) (11,854)  
Proceeds from senior unsecured term loan         0 800,000  
Repayments of senior unsecured term loans         0 (400,000)  
Draws on senior unsecured credit facility         0 110,000  
Repayments of senior unsecured credit facility         0 (200,000)  
Payment of financing costs         0 (13,846)  
Distributions on common stock and units         (25,531) (10)  
Distributions on preferred stock         (7,362) (7,362)  
Repurchase of common stock         (2,423) 0  
Shares redeemed to satisfy tax withholdings on vested share-based compensation         (3,023) (828)  
Net cash (used in) provided by financing activities         (45,448) 276,100  
Net increase in cash, cash equivalents, and restricted cash         38,062 284,353  
Cash, cash equivalents, and restricted cash at beginning of period   $ 107,178   $ 75,507 107,178 75,507 $ 75,507
Cash, cash equivalents, and restricted cash at end of period 145,240   359,860   145,240 359,860 107,178
Supplemental Disclosure of Cash Flow Information:              
Cash paid for interest         44,706 34,214  
Cash paid for income taxes, net         2,645 4,599  
Non-cash investing and financing activities:              
Unpaid dividends and distributions declared 6,380   6,489   6,380 6,489 12,946
Accrued capital expenditures         6,712 4,294 8,000
Redemption of Operating Partnership units for common stock         365 214  
Cash and cash equivalents 102,737       102,737   67,564
Restricted cash 42,503       42,503   39,614
Total cash, cash equivalents and restricted cash $ 145,240   $ 359,860   $ 145,240 $ 359,860 $ 107,178