XML 16 R6.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net income (loss) $ 3,172 $ 4,746
Adjustments to reconcile net income to cash flow provided by operating activities:    
Gain on sale of hotel property, net (1,321) 0
Depreciation and amortization 45,788 44,679
Amortization of deferred financing costs 1,831 1,572
Non-cash lease expense and other amortization 1,078 1,466
Equity in income from unconsolidated joint ventures (181) (234)
Amortization of share-based compensation 4,349 6,434
Changes in assets and liabilities:    
Hotel and other receivables, net (2,060) (591)
Prepaid expense and other assets (23,263) (24,434)
Accounts payable and other liabilities (3,415) (7,015)
Advance deposits and deferred revenue 337 3,859
Accrued interest (10,015) (9,715)
Net cash flow provided by operating activities 16,300 20,767
Cash flows from investing activities    
Acquisition, net 0 122,679
Proceeds from sale of hotel property, net (24,121) 0
Improvements and additions to hotel properties and other assets (46,794) (33,794)
Purchase deposits 1,000 1,500
Net cash flow used in investing activities (23,673) (157,973)
Cash flows from financing activities    
Repurchase of common shares under share repurchase programs (20,815) (1,251)
Repurchase of common shares to satisfy employee tax withholding requirements (3,128) (4,031)
Distributions on preferred shares (6,279) (6,279)
Distributions on common shares (23,229) (15,530)
Distributions on Operating Partnership units (107) (72)
Net cash flow used in financing activities (53,558) (27,163)
Net change in cash, cash equivalents, and restricted cash reserves (60,931) (164,369)
Cash, cash equivalents, and restricted cash reserves, beginning of period 433,325 555,327
Cash, cash equivalents, and restricted cash reserves, end of period $ 372,394 $ 390,958