Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Segment Reporting Information, by Segment

The following table presents revenues for our hotel ownership segment reconciled to our consolidated amounts and Hotel Adjusted EBITDA reconciled to consolidated net income (in thousands):


	Year Ended December 31,
	2024		2023		2022
Revenues:
Hotel ownership revenue	$	1,129,883	$	1,074,867	$	1,001,503
Total consolidated revenue	1,129,883		1,074,867		1,001,503

Significant expenses:
Rooms expense	186,131		176,765		163,062
Food and beverage expense	193,331		180,546		163,622
Other departmental and support expenses	268,563		261,536		233,691
Management fees	28,739		26,587		25,029
Franchise fees	39,724		35,738		32,683
Property taxes	54,195		48,586		33,243
Total significant expenses	770,683		729,758		651,330

Other segment expenses:
Other hotel expenses(1)	40,586		43,953		38,068

Hotel adjusted EBITDA:	318,614		301,156		312,105

Non-cash lease expense and other amortization	5,970		6,156		6,226
Hotel pre-opening and manager transition items	1,006		1,246		1,164
Impairment losses	34,169		941		2,843
Depreciation and amortization	113,588		111,302		108,849
Corporate expenses	32,549		32,048		31,790
Interest expense	65,516		65,072		38,283
Interest income	(4,013)		(2,442)		(1,029)
Loss on early extinguishment of debt	—		—		9,766
Severance costs	20,362		—		(532)
Other (income) expense, net	(324)		(119)		2,433
Income tax expense	1,541		317		2,607
Consolidated net income:	$	48,250	$	86,635	$	109,705

_____________________________

(1)Other hotel expenses is principally comprised of cash payments for leases and property insurance.

Reconciliation of Total Assets for Our Hotel Ownership Segment

The following table presents total assets for our hotel ownership segment, reconciled to total consolidated assets (in thousands):


	Year Ended December 31,
	2024		2023
Hotel ownership	$	3,063,835	$	3,118,140
All other	108,416		120,547
Total assets	$	3,172,251	$	3,238,687