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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Mar. 31, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Cash flows from operating activities:              
Net income $ 22,638 $ 11,915 $ 26,557 $ 8,358 $ 75,592 $ 59,546  
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation and amortization 28,340   28,356   84,388 84,542  
Corporate asset depreciation as corporate expenses         104 107  
Loss on debt extinguishment 5,850   0   5,850 0  
Non-cash lease expense and other amortization         3,862 4,604  
Amortization of debt issuance costs         1,550 1,505  
Impairment losses         1,076 1,596  
Amortization of deferred income related to key money         (259) (323)  
Share-based compensation         5,737 10,945  
Changes in assets and liabilities:              
Prepaid expenses and other assets         (1,274) (1,580)  
Due to/from hotel managers         (15,915) (13,780)  
Accounts payable and accrued expenses         15,019 1,453  
Net cash provided by operating activities         175,730 148,615  
Cash flows from investing activities:              
Capital expenditures         (60,941) (58,407)  
Net proceeds from sale of hotel property         89,023 0  
Net cash provided by (used in) investing activities         28,082 (58,407)  
Cash flows from financing activities:              
Mortgage debt principal payments         (295,808) (80,323)  
Proceeds from senior unsecured term loan         300,000 0  
Draws on senior unsecured credit facility         60,000 0  
Repayments of senior unsecured credit facility         (60,000) 0  
Payment of financing costs         (11,574) 0  
Distributions on common stock and units         (81,868) (19,292)  
Distributions on preferred stock         (7,362) (7,362)  
Repurchases of common stock         (35,519) (25,993)  
Shares redeemed to satisfy tax withholdings on vested share-based compensation         (5,053) (4,629)  
Net cash used in financing activities         (137,184) (137,599)  
Net increase (decrease) in cash, cash equivalents, and restricted cash         66,628 (47,391)  
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 195,417   119,780   195,417 119,780 128,789
Supplemental Disclosure of Cash Flow Information:              
Cash paid for interest 43,972   48,646        
Cash paid for income taxes, net of refunds 726   3,451        
Non-cash investing and financing activities:              
Unpaid dividends and distributions declared 17,430   6,664   17,430 6,664 49,034
Accrued capital expenditures 3,934   3,814   3,900   5,400
Cash and cash equivalents 145,336       145,336   81,381
Restricted cash 50,081       50,081   47,408
Total cash, cash equivalents and restricted cash $ 195,417   $ 119,780   $ 195,417 $ 119,780 $ 128,789