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Equity Incentive Plans (Tables) | 3 Months Ended
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Mar. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Restricted Stock Awards | A summary of our restricted stock awards from January 1, 2024 to March 31, 2024 is as follows:
| Number of Shares |  | Weighted- Average Grant Date Fair Value
Unvested balance at January 1, 2024 | 1,200,693 |  |  | $ | 9.33 |
Vested | (484,777) |  |  | 9.37 |
Unvested balance at March 31, 2024 | 715,916 |  |  | $ | 9.30 |
Schedule of Fair Value Assumptions | The determination of the grant-date fair values of outstanding awards based on our relative stockholder return included the following assumptions:
Award Grant Date |  | Volatility |  | Risk-Free Rate |  | Total Stockholder Return PSUs |  | Hotel Market Share PSUs
March 2, 2021 |  | 68.8% |  | 0.26% |  | $9.28 |  | $9.40
February 22, 2022 |  | 71.4% |  | 1.74% |  | $9.84 |  | $9.56
August 9, 2022 |  | 73.3% |  | 3.20% |  | $9.65 |  | $9.32
February 23, 2023 |  | 74.5% |  | 4.40% |  | $9.22 |  | $8.94
Schedule of Nonvested Performance-based Units Activity | A summary of our PSUs from January 1, 2024 to March 31, 2024 is as follows:
| Number of Target Units |  | Weighted- Average Grant Date Fair Value
Unvested balance at January 1, 2024 | 1,032,296 |  |  | $ | 9.34 |
Additional units from dividends | 3,277 |  |  | 9.45 |
Vested (1) | (301,861) |  |  | 9.32 |
Unvested balance at March 31, 2024 | 733,712 |  |  | $ | 9.35 |
______________________ (1)The number of shares of common stock earned for the PSUs vested in 2024 was equal to 95.6% of the PSU Target Award.
Schedule of LTIP Units | A summary of our LTIP units from January 1, 2024 to March 31, 2024 is as follows:
| Number of Units |  | Weighted- Average Grant Date Fair Value
Unvested balance at January 1, 2024 | 314,137 |  |  | $ | 9.01 |
Vested (1) | (85,757) |  |  | 8.94 |
Unvested balance at March 31, 2024 | 228,380 |  |  | $ | 9.03 |
______________________ (1)As of March 31, 2024, all vested LTIP units have achieved economic parity with common OP units and have been converted to common OP units.

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- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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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