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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Net income $ 68,191 $ 76,617 $ 42,215
Adjustments to reconcile net income to cash flow provided by operating activities:      
(Gain) loss on sale of hotel properties, net (8,262) 34 (1,017)
Loss on extinguishment of indebtedness, net 129 169 39
Depreciation and amortization 179,431 179,103 184,875
Amortization of deferred financing costs 6,623 6,100 5,967
Non-cash lease expense and other amortization 5,507 4,960 3,265
Reclassification of unrealized gains on discontinued cash flow hedges to other income, net 0 0 (5,866)
Equity in income from unconsolidated joint ventures (459) (419) (457)
Distributions of income from unconsolidated joint ventures 400 0 0
Amortization of share-based compensation 20,804 24,285 21,664
Changes in assets and liabilities:      
Hotel and other receivables, net 651 12,365 (7,563)
Prepaid expense and other assets 4,240 12,648 (4,665)
Accounts payable and other liabilities 1,906 (11,064) 13,146
Advance deposits and deferred revenue 7,897 8,512 3,319
Accrued interest (1,639) 1,832 1,597
Net cash flow provided by operating activities 285,419 315,142 256,519
Cash flows from investing activities      
Acquisitions, net (158,749) 0 (59,308)
Proceeds from sales of hotel properties, net 19,503 0 48,075
Purchase deposit 0 (2,400) 0
Improvements and additions to hotel properties and other assets (136,484) (132,349) (124,282)
Net cash flow used in investing activities (275,730) (134,749) (135,515)
Cash flows from financing activities      
Repayments of Revolver (100,000) 0 (200,000)
Borrowings on Term Loans 500,000 320,000 5,000
Repayments of Term Loans (400,000) (318,662) 0
Repayment of mortgage loan (200,000) 0 0
Repurchase of common shares under share repurchase programs (21,998) (75,976) (57,639)
Repurchase of common shares to satisfy employee tax withholding requirements (9,014) (4,398) (3,598)
Distributions on preferred shares (25,115) (25,115) (25,115)
Distributions on common shares (69,814) (49,194) (13,288)
Distributions on Operating Partnership units (340) (225) (54)
Payments of deferred financing costs (5,410) (7,882) (1,333)
Contributions from consolidated joint venture partners 0 0 154
Distributions to consolidated joint venture partners 0 0 2,614
Borrowings under Revolver 200,000 0 0
Net cash flow used in financing activities (131,691) (161,452) (298,487)
Net change in cash, cash equivalents, and restricted cash reserves (122,002) 18,941 (177,483)
Cash, cash equivalents, and restricted cash reserves, beginning of year 555,327 536,386 713,869
Cash, cash equivalents, and restricted cash reserves, end of year $ (433,325) $ (555,327) $ (536,386)