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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Cash flows from operating activities:              
Net income $ 24,631 $ 8,358 $ 39,134 $ 9,188 $ 32,989 $ 48,322  
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation and amortization 27,873   27,840   56,186 55,312  
Corporate asset depreciation as corporate expenses         67 99  
Non-cash lease expense and other amortization         3,073 3,087  
Non-cash interest rate swap fair value adjustment         0 2,033  
Amortization of debt issuance costs         1,026 1,026  
Impairment losses         0 941  
Amortization of deferred income related to key money         (215) (215)  
Share-based compensation         9,862 4,727  
Changes in assets and liabilities:              
Prepaid expenses and other assets         (2,266) (5,940)  
Due to/from hotel managers         (11,942) 8,540  
Accounts payable and accrued expenses         (1,827) (3,508)  
Net cash provided by operating activities         86,953 114,424  
Cash flows from investing activities:              
Capital expenditures         (35,778) (47,928)  
Acquisition of interest in land         0 (1,829)  
Purchase deposits         0 (1,500)  
Net cash used in investing activities         (35,778) (51,257)  
Cash flows from financing activities:              
Scheduled mortgage debt principal payments         (4,905) (4,744)  
Distributions on common stock and units         (12,861) (19,156)  
Distributions on preferred stock         (4,908) (4,908)  
Repurchase of common stock         (20,610) (2,423)  
Shares redeemed to satisfy tax withholdings on vested share-based compensation         (4,638) (3,023)  
Net cash used in financing activities         (47,922) (34,254)  
Net increase in cash, cash equivalents, and restricted cash         3,253 28,913  
Cash, cash equivalents, and restricted cash at beginning of period   $ 167,171   $ 107,178 167,171 107,178 $ 107,178
Cash, cash equivalents, and restricted cash at end of period 170,424   136,091   170,424 136,091 167,171
Supplemental Disclosure of Cash Flow Information:              
Cash paid for interest         31,605 29,314  
Cash paid for income taxes, net         2,351 1,833  
Non-cash investing and financing activities:              
Unpaid dividends and distributions declared         6,067 6,437  
Accrued capital expenditures         4,043 6,153 4,700
Cash and cash equivalents 125,219       125,219   121,595
Restricted cash 45,205       45,205   45,576
Total cash, cash equivalents and restricted cash $ 170,424   $ 136,091   $ 170,424 $ 136,091 $ 167,171