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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
ASSETS    
Property and equipment, net $ 2,631,221 $ 2,755,195
Assets held for sale 93,400 0
Right-of-use assets 89,931 97,692
Restricted cash 47,408 45,576
Due from hotel managers 145,947 144,689
Prepaid and other assets 82,963 73,940
Cash and cash equivalents 81,381 121,595
Total assets 3,172,251 3,238,687
Liabilities:    
Debt, net of unamortized debt issuance costs 1,095,294 1,177,005
Lease liabilities 85,235 112,866
Due to hotel managers 121,734 116,522
Liabilities of assets held for sale 3,352 0
Deferred rent 73,535 69,209
Unfavorable contract liabilities, net 58,208 59,866
Accounts payable and accrued expenses 79,201 39,563
Distributions declared and unpaid 49,034 6,324
Deferred income related to key money, net 7,726 8,349
Total liabilities 1,573,319 1,589,704
Equity:    
Preferred stock, $0.01 par value; 10,000,000 shares authorized: 8.250% Series A Cumulative Redeemable Preferred Stock (liquidation preference $25.00 per share), 4,760,000 shares issued and outstanding at December 31, 2023 and 2022 48 48
Common stock, $0.01 par value; 400,000,000 shares authorized; 207,592,210 and 209,627,197 shares issued and outstanding at December 31, 2024 and 2023, respectively 2,076 2,096
Additional paid-in capital 2,268,521 2,291,297
Accumulated other comprehensive loss (1,360) (2,036)
Distributions in excess of earnings (679,050) (649,330)
Total stockholders' equity 1,590,235 1,642,075
Noncontrolling interests 8,697 6,908
Total equity 1,598,932 1,648,983
Total liabilities and equity $ 3,172,251 $ 3,238,687