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Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

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):

			Three Months Ended March 31,
			2025						2024
Revenues:
Hotel ownership revenue			$	254,853					$	256,423
Total consolidated revenue			254,853						256,423
Significant expenses:
Rooms expense			43,843						43,968
Food and beverage expense			46,417						47,239
Other departmental and support expenses			65,286						64,600
Management fees			5,415						5,708
Franchise fees			9,048						9,026
Property taxes			14,281						13,022
Total significant expenses			184,290						183,563
Other segment expenses:
Other hotel expenses(1)			8,899						11,446
Hotel adjusted EBITDA:			61,664						61,414
Non-cash lease expense and other amortization			1,299						1,518
Hotel pre-opening and manager transition items			23						234
Depreciation and amortization			27,892						28,313
Corporate expenses			7,683						8,904
Interest expense			15,158						16,246
Interest income			(781)						(1,050)
Other (income) expense, net			(683)						(19)
Income tax benefit			(842)						(1,090)
Consolidated net income:			$	11,915					$	8,358

_____________________________

(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):

			March 31, 2025						December 31, 2024
Hotel ownership			$	2,986,278					$	3,063,835
All other			115,319						108,416
Total assets			$	3,101,597					$	3,172,251

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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