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v3.25.2

Segment Reporting (Tables) | 6 Months Ended
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Jun. 30, 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 June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Revenues: |  |  |  |  |  |  |
Hotel ownership revenue | $ | 305,720 |  |  | $ | 309,280 |  |  | $ | 560,573 |  |  | $ | 565,703 |
Total consolidated revenue | 305,720 |  |  | 309,280 |  |  | 560,573 |  |  | 565,703 |
Significant expenses: |  |  |  |  |  |  |
Rooms expense | 47,272 |  |  | 47,585 |  |  | 91,115 |  |  | 91,553 |
Food and beverage expense | 50,548 |  |  | 50,717 |  |  | 96,965 |  |  | 97,956 |
Other departmental and support expenses | 68,719 |  |  | 67,817 |  |  | 134,005 |  |  | 132,417 |
Management fees | 7,804 |  |  | 8,405 |  |  | 13,219 |  |  | 14,113 |
Franchise fees | 10,003 |  |  | 10,567 |  |  | 19,051 |  |  | 19,593 |
Property taxes | 16,663 |  |  | 13,051 |  |  | 30,944 |  |  | 26,073 |
Total significant expenses | 201,009 |  |  | 198,142 |  |  | 385,299 |  |  | 381,705 |
Other segment expenses: |  |  |  |  |  |  |
Other hotel expenses(1) | 9,351 |  |  | 11,650 |  |  | 18,250 |  |  | 23,096 |
Hotel Adjusted EBITDA: | 95,360 |  |  | 99,488 |  |  | 157,024 |  |  | 160,902 |
Non-cash lease expense and other amortization | 1,284 |  |  | 1,555 |  |  | 2,583 |  |  | 3,073 |
Hotel pre-opening and manager transition items | 321 |  |  | 535 |  |  | 344 |  |  | 769 |
Depreciation and amortization | 28,156 |  |  | 27,873 |  |  | 56,048 |  |  | 56,186 |
Corporate expenses | 9,465 |  |  | 28,519 |  |  | 17,148 |  |  | 37,423 |
Interest expense | 14,868 |  |  | 16,202 |  |  | 30,026 |  |  | 32,448 |
Interest income | (802) |  |  | (1,169) |  |  | (1,583) |  |  | (2,219) |
Other (income) expense, net | 38 |  |  | (26) |  |  | (645) |  |  | (45) |
Income tax benefit | 991 |  |  | 1,368 |  |  | 149 |  |  | 278 |
Consolidated net income: | $ | 41,039 |  |  | $ | 24,631 |  |  | $ | 52,954 |  |  | $ | 32,989 |
_____________________________ (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):
| June 30, 2025 |  | December 31, 2024
Hotel ownership | $ | 2,995,926 |  |  | $ | 3,063,835 |
All other | 65,389 |  |  | 108,416 |
Total assets | $ | 3,061,315 |  |  | $ | 3,172,251 |

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- 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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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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 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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