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Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net income (loss) $ 4,746,000 $ 10,514,000
Adjustments to reconcile net income to cash flow provided by operating activities:    
Depreciation and amortization 44,679,000 44,996,000
Amortization of deferred financing costs 1,572,000 1,474,000
Other amortization 1,466,000 1,086,000
Equity in income from unconsolidated joint ventures (234,000) (281,000)
Amortization of share-based compensation 6,434,000 5,692,000
Changes in assets and liabilities:    
Hotel and other receivables, net (591,000) (2,650,000)
Prepaid expense and other assets (24,434,000) (4,782,000)
Accounts payable and other liabilities (7,015,000) (8,603,000)
Advance deposits and deferred revenue 3,859,000 4,135,000
Accrued interest (9,715,000) (9,563,000)
Net cash flow provided by operating activities 20,767,000 42,018,000
Cash flows from investing activities    
Payments to Acquire Real Estate Held-for-investment 122,679,000 0
Improvements and additions to hotel properties and other assets (33,794,000) (32,634,000)
Increase (Decrease) in Purchase Deposit, Investing Activities 1,500,000 0
Net cash flow used in investing activities (157,973,000) (32,634,000)
Cash flows from financing activities    
Borrowing on Term Loan 0 95,000,000
Repayments of Term Loans 0 (94,006,000)
Repurchase of common shares under share repurchase programs (1,251,000) (24,537,000)
Repurchase of common shares to satisfy employee tax withholding requirements (4,031,000) (1,889,000)
Distributions on preferred shares (6,279,000) (6,279,000)
Distributions on common shares (15,530,000) (8,100,000)
Distributions on Operating Partnership units (72,000) (40,000)
Payments of deferred financing costs 0 (343,000)
Net cash flow used in financing activities (27,163,000) (40,194,000)
Net change in cash, cash equivalents, and restricted cash reserves (164,369,000) (30,810,000)
Cash, cash equivalents, and restricted cash reserves, beginning of year 555,327,000 536,386,000
Cash, cash equivalents, and restricted cash reserves, end of period $ 390,958,000 $ 505,576,000