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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Mar. 31, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Cash flows from operating activities:              
Net income $ 26,557 $ 8,358 $ 27,330 $ 9,188 $ 59,546 $ 75,652  
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation and amortization 28,356   27,683   84,542 82,995  
Corporate asset depreciation as corporate expenses         107 150  
Non-cash lease expense and other amortization         4,604 4,620  
Non-cash interest rate swap fair value adjustment         0 2,033  
Amortization of debt issuance costs         1,505 1,540  
Impairment losses         1,596 941  
Amortization of deferred income related to key money         (323) (323)  
Share-based compensation         10,945 6,740  
Changes in assets and liabilities:              
Prepaid expenses and other assets         (1,580) (2,022)  
Due to/from hotel managers         (13,780) 7,377  
Accounts payable and accrued expenses         1,453 4,983  
Net cash provided by operating activities         148,615 184,686  
Cash flows from investing activities:              
Capital expenditures         (58,407) (67,449)  
Acquisition of interest in land         0 (1,833)  
Property acquisitions         (31,894)  
Net cash used in investing activities         (58,407) (101,176)  
Cash flows from financing activities:              
Scheduled mortgage debt principal payments         (7,068) (7,109)  
Repayment of mortgage debt         (73,255) 0  
Distributions on common stock and units         (19,292) (25,531)  
Distributions on preferred stock         (7,362) (7,362)  
Repurchase of common stock         (25,993) (2,423)  
Shares redeemed to satisfy tax withholdings on vested share-based compensation         (4,629) (3,023)  
Net cash used in financing activities         (137,599) (45,448)  
Net decrease in cash, cash equivalents, and restricted cash         (47,391) 38,062  
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 119,780   145,240   119,780 145,240 167,171
Supplemental Disclosure of Cash Flow Information:              
Cash paid for interest         48,646 44,706  
Cash paid for income taxes, net         3,451 2,645  
Non-cash investing and financing activities:              
Unpaid dividends and distributions declared 6,664   6,380   6,664 6,380 6,324
Accrued capital expenditures         3,814 6,712 4,700
Cash and cash equivalents 75,287       75,287   121,595
Restricted cash 44,493       44,493   45,576
Total cash, cash equivalents and restricted cash $ 119,780   $ 145,240   $ 119,780 $ 145,240 $ 167,171