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Sale of Hotel Properties | 12 Months Ended
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Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract] |
Sale of Hotel Properties | Sales of Hotel Properties In connection with the sales of hotel properties for the years ended December 31, 2024 and 2022, the Company recorded net gains of $8.3 million and $1.0 million, respectively. During the year ended December 31, 2024, the Company sold the following hotel properties in two separate transactions for a combined sales price of approximately $20.8 million:
Hotel Property Name |  | Location |  | Sale Date |  | Rooms
Residence Inn Merrillville |  | Merrillville, IN |  | May 21, 2024 |  | 78 |
Fairfield Inn & Suites Denver Cherry Creek |  | Denver, CO |  | September 9, 2024 |  | 134 |
|  |  |  | Total |  | 212 |
During the year ended December 31, 2022, the Company sold the following hotel properties in two separate transactions for a combined sales price of approximately $49.9 million:
Hotel Property Name |  | Location |  | Sale Date |  | Rooms
Marriott Denver Airport @ Gateway Park |  | Aurora, CO |  | March 8, 2022 |  | 238 |
SpringHill Suites Denver North Westminster |  | Westminster, CO |  | April 19, 2022 |  | 164 |
|  |  |  | Total |  | 402 |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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