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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
ASSETS    
Property and equipment, net $ 2,625,136 $ 2,631,221
Assets held for sale 0 93,400
Right-of-use assets 89,707 89,931
Restricted cash 49,638 47,408
Due from hotel managers 160,991 145,947
Prepaid and other assets 75,504 82,963
Cash and cash equivalents 100,621 81,381
Total assets 3,101,597 3,172,251
Liabilities:    
Debt, net of unamortized debt issuance costs 1,092,941 1,095,294
Lease liabilities 85,674 85,235
Due to hotel managers 123,724 121,734
Liabilities of assets held for sale 0 3,352
Deferred rent 74,584 73,535
Unfavorable contract liabilities, net 57,793 58,208
Accounts payable and accrued expenses 68,250 79,201
Distributions declared and unpaid 17,334 49,034
Deferred income related to key money, net 7,645 7,726
Total liabilities 1,527,945 1,573,319
Equity:    
8.250% Series A Cumulative Redeemable Preferred Stock (liquidation preference $25.00 per share), 4,760,000 shares issued and outstanding at March 31, 2025 and December 31, 2024 48 48
Common stock, $0.01 par value; 400,000,000 shares authorized; 206,972,935 and 207,592,210 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 2,069 2,076
Additional paid-in capital 2,253,718 2,268,521
Accumulated other comprehensive loss (4,511) (1,360)
Distributions in excess of earnings (686,428) (679,050)
Total stockholders’ equity 1,564,896 1,590,235
Noncontrolling interests 8,756 8,697
Total equity 1,573,652 1,598,932
Total liabilities and equity $ 3,101,597 $ 3,172,251