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Equity	3 Months Ended
Equity	Mar. 31, 2025
Equity [Abstract]
Equity	Equity Common Shares of Beneficial Interest During the three months ended March 31, 2025 and 2024, the Company declared a cash dividend of $0.15 and $0.10 per common share, respectively. During the three months ended March 31, 2025, the Company repurchased and retired approximately 2.2 million common shares for approximately $20.8 million. Subsequent to March 31, 2025, the Company repurchased and retired approximately 0.5 million common shares for approximately $3.5 million. As of May 5, 2025, the Company's share repurchase program approved in 2024 had a remaining capacity of $204.9 million. On April 25, 2025, the Company's board of trustees approved a new share repurchase program to acquire up to an aggregate of $250.0 million of common and preferred shares from May 9, 2025 to May 8, 2026 (the "2025 Share Repurchase Program"). The terms of the 2025 Share Repurchase Program are the same as the share repurchase program approved in 2024 that expires in May 2025. During the three months ended March 31, 2024, the Company repurchased and retired approximately 0.1 million common shares for approximately $1.3 million. Series A Preferred Shares During the three months ended March 31, 2025 and 2024, the Company declared a cash dividend of $0.4875 on each Series A Preferred Share. The Series A Preferred Shares are convertible, in whole or in part, at any time, at the option of the holders into common shares at a conversion rate of 0.2806 common shares for each Series A Preferred Share. Noncontrolling Interest in Consolidated Joint Ventures The Company consolidates the joint venture that owns The Knickerbocker hotel property, which has a third-party partner that owns a noncontrolling 5% ownership interest in the joint venture. The third-party ownership interest is included in the noncontrolling interest in consolidated joint ventures on the consolidated balance sheets. Noncontrolling Interest in the Operating Partnership The Company consolidates the Operating Partnership, which is a majority-owned limited partnership that has a noncontrolling interest. The outstanding OP units held by the limited partners are redeemable for cash, or at the option of the Company, for a like number of common shares. As of March 31, 2025, 771,831 outstanding OP units were held by the limited partners. The noncontrolling interest is included in the noncontrolling interest in the Operating Partnership on the consolidated balance sheets.