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Segment Reporting (Tables)

6 Months Ended

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

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
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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

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