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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net income (loss) $ 31,803 $ 42,037
Adjustments to reconcile net income to cash flow provided by operating activities:    
Gain on sale of hotel properties, net (943) (3,546)
Loss on extinguishment of indebtedness, net (34) 0
Depreciation and amortization 92,151 89,153
Amortization of deferred financing costs 3,732 3,116
Non-cash lease expense and other amortization 2,117 2,882
Equity in loss (income) from unconsolidated joint ventures 6 (388)
Distribution of income from unconsolidated joint venture 0 400
Amortization of share-based compensation 7,237 11,708
Changes in assets and liabilities:    
Hotel and other receivables, net (2,275) (4,771)
Prepaid expense and other assets (17,656) (11,794)
Accounts payable and other liabilities 5,237 4,972
Advance deposits and deferred revenue (3,554) 1,130
Accrued interest (269) (605)
Net cash flow provided by operating activities 117,620 134,294
Cash flows from investing activities    
Acquisitions, net 0 158,345
Proceeds from sales of hotel properties, net (23,782) (7,679)
Improvements and additions to hotel properties and other assets (81,968) (72,372)
Purchase deposit 0 2,000
Net cash flow used in investing activities (58,186) (225,038)
Cash flows from financing activities    
Borrowings under Revolver 0 200,000
Repayment of Revolver 100,000 0
Borrowing on Term Loan 100,000 0
Repayment of mortgage loan 0 (200,000)
Repurchase of common shares under share repurchase programs (27,192) (4,192)
Repurchase of common shares to satisfy employee tax withholding requirements (3,556) (9,014)
Distributions on preferred shares (12,557) (12,557)
Distributions on common shares (46,018) (31,244)
Distributions on Operating Partnership units (214) (142)
Payments of Financing Costs 2,060 220
Net cash flow used in financing activities (91,597) (57,369)
Net change in cash, cash equivalents, and restricted cash reserves (32,163) (148,113)
Cash, cash equivalents, and restricted cash reserves, beginning of period 433,325 555,327
Cash, cash equivalents, and restricted cash reserves, end of period $ 401,162 $ 407,214