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Sale of Hotel Properties

12 Months Ended

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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- References

No definition available.

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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

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