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Segment Reporting (Tables)

9 Months Ended

Sep. 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 September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
Revenues:
Hotel ownership revenue			$	285,384					$	285,129					$	845,957					$	850,832
Total consolidated revenue			285,384						285,129						845,957						850,832
Significant expenses:
Rooms expense			46,529						47,919						137,644						139,472
Food and beverage expense			47,181						47,319						144,146						145,275
Other departmental and support expenses			68,127						67,357						202,132						199,774
Management fees			7,492						7,491						20,711						21,604
Franchise fees			9,731						10,117						28,782						29,710
Property taxes			14,560						12,923						45,504						38,996
Total significant expenses			193,620						193,126						578,919						574,831
Other segment expenses:
Other hotel expenses(1)			8,596						9,744						26,846						32,840
Hotel Adjusted EBITDA:			83,168						82,259						240,192						243,161
Non-cash lease expense and other amortization			1,279						1,531						3,862						4,604
Hotel pre-opening and manager transition items			135						156						479						925
Loss on debt extinguishment			5,850						—						5,850						—
Depreciation and amortization			28,340						28,356						84,388						84,542
Corporate expenses			8,567						7,660						25,715						45,083
Interest expense			17,111						16,986						47,137						49,434
Interest income			(2,202)						(967)						(3,785)						(3,185)
Impairment loss			1,076						1,596						1,076						1,596
Other (income) expense, net			(95)						(34)						(740)						(80)
Income tax expense			469						418						618						696
Consolidated net income:			$	22,638					$	26,557					$	75,592					$	59,546

_____________________________

(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):

			September 30, 2025						December 31, 2024
Hotel ownership			$	2,974,249					$	3,063,835
All other			172,154						108,416
Total assets			$	3,146,403					$	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

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