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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Cash flows from operating activities:              
Net income $ 41,039 $ 11,915 $ 24,631 $ 8,358 $ 52,954 $ 32,989  
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation and amortization 28,156   27,873   56,048 56,186  
Corporate asset depreciation as corporate expenses         69 67  
Non-cash lease expense and other amortization         2,583 3,073  
Amortization of debt issuance costs         1,056 1,026  
Amortization of deferred income related to key money         (178) (215)  
Share-based compensation         3,882 9,862  
Changes in assets and liabilities:              
Prepaid expenses and other assets         (3,843) (2,266)  
Due to/from hotel managers         (14,683) (11,942)  
Accounts payable and accrued expenses         3,286 (1,827)  
Net cash provided by operating activities         101,174 86,953  
Cash flows from investing activities:              
Capital expenditures         (41,270) (35,778)  
Net proceeds from sale of hotel property         89,023 0  
Net cash provided by (used in) investing activities         47,753 (35,778)  
Cash flows from financing activities:              
Scheduled mortgage debt principal payments         (3,844) (4,905)  
Repayment of mortgage debt         (71,089) 0  
Payment of financing costs         (450) 0  
Distributions on common stock and units         (65,276) (12,861)  
Distributions on preferred stock         (4,908) (4,908)  
Repurchases of common stock         (23,704) (20,610)  
Shares redeemed to satisfy tax withholdings on vested share-based compensation         (4,888) (4,638)  
Net cash used in financing activities         (174,159) (47,922)  
Net (decrease) increase in cash, cash equivalents, and restricted cash         (25,232) 3,253  
Cash, cash equivalents, and restricted cash at beginning of period   $ 128,789   $ 167,171 128,789 167,171 $ 167,171
Cash, cash equivalents, and restricted cash at end of period 103,557   170,424   103,557 170,424 128,789
Supplemental Disclosure of Cash Flow Information:              
Cash paid for interest 28,533   31,605        
Cash paid for income taxes, net 651   2,351        
Non-cash investing and financing activities:              
Unpaid dividends and distributions declared 17,394   6,067   17,394 6,067 49,034
Accrued capital expenditures 3,607   4,043   3,600   5,400
Cash and cash equivalents 52,402       52,402   81,381
Restricted cash 51,155       51,155   47,408
Total cash, cash equivalents and restricted cash $ 103,557   $ 170,424   $ 103,557 $ 170,424 $ 128,789