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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net (loss) income $ 86,635 $ 109,705 $ (195,405)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 111,302 108,849 102,963
Corporate asset depreciation as corporate expenses 192 220 226
Loss on early extinguishment of debt 0 9,766 0
Non-cash lease expense and other amortization 6,156 6,226 6,673
Non-cash interest rate swap fair value adjustment 2,033 (13,914) 7,690
Amortization of debt issuance costs 2,053 2,489 2,547
Impairment losses 941 2,843 126,697
Amortization of deferred income related to key money (431) (423) (329)
Share-based compensation 8,771 7,789 8,744
Deferred income tax expense (975) (781) 468
Changes in assets and liabilities:      
Prepaid expenses and other assets (3,684) (9,563) 3,142
Due to/from hotel managers 24,151 (24,034) (63,236)
Accounts payable and accrued expenses 420 7,067 (2,487)
Net cash provided by (used in) operating activities 237,564 206,239 (2,307)
Cash flows from investing activities:      
Property acquisitions (32,699) (181,942) (226,627)
Proceeds from sale of properties, net 0 0 213,817
Acquisition of interest in land (1,833) 0 0
Extension of the Salt Lake City Marriott Downtown ground lease 0 0 (2,781)
Receipt of deferred key money 0 1,000 524
Net cash used in investing activities (120,846) (248,599) (62,199)
Cash flows from financing activities:      
Scheduled mortgage debt principal payments (9,544) (14,629) (15,318)
Repurchase of common stock (2,423) (12,287) 0
Repayments of mortgage debt 0 (178,141) (1,880)
Proceeds from senior unsecured term loans 0 800,000 0
Repayments of senior unsecured term loans 0 (400,000) 0
Draws on senior unsecured credit facility 0 110,000 205,500
Repayments of senior unsecured credit facility 0 (200,000) (170,500)
Payment of financing costs 0 (13,846) (1,217)
Distributions on common stock and units (31,909) (6,421) (119)
Distributions on preferred stock (9,817) (9,817) (9,817)
Shares redeemed to satisfy tax withholdings on vested share-based compensation (3,032) (828) (1,482)
Net cash (used in) provided by financing activities (56,725) 74,031 5,167
Net increase (decrease) in cash and cash equivalents, and restricted cash 59,993 31,671 (59,339)
Cash, cash equivalents, and restricted cash beginning of year 107,178 75,507 134,846
Cash, cash equivalents, and restricted cash, end of year 167,171 107,178 75,507
Supplemental disclosure of cash flow information:      
Cash paid for interest 60,363 47,547 42,494
Cash paid for income taxes 2,666 6,625 1,632
Non-cash investing and financing activities:      
Unpaid dividends and distributions declared 6,324 12,946 19
Accrued capital expenditures 4,667 8,007 7,295
Transfer of land interest in consideration for extension of ground lease 0 0 855
Redemption of Operating Partnership units for common stock 365 214 2,370
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]      
Cash and cash equivalents 121,595 67,564  
Restricted cash 45,576 39,614  
Total cash, cash equivalents, and restricted cash 167,171 107,178 75,507
Operating Hotels      
Cash flows from investing activities:      
Capital expenditures for operating hotels $ (86,314) $ (67,657) $ (47,132)