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Segment Information
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company’s chief operating decision maker (“CODM”) is the President and Chief Executive Officer.
The CODM separately evaluates the performance of each of the Company’s hotel properties and each hotel property is an operating segment. However, because each of the hotels has similar economic characteristics, facilities, and services, the hotel properties have been aggregated into a single reportable segment.

The hotel segment revenues are derived from the operation of hotel properties. The hotel segment generates room revenue by renting hotel rooms to customers at the Company’s hotel properties. The hotel segment generates food and beverage revenue from the sale of food and beverage to customers at the Company’s hotel properties. The hotel segment generates other revenue from parking fees, resort fees, gift shop sales and other guest service fees at the Company’s hotel properties.

The CODM assesses performance for the hotel segment and decides how to allocate resources based on Hotel EBITDA, which is a non-GAAP financial measure. Hotel EBITDA is defined as net income or loss excluding: (1) interest expense; (2) income tax expense; and (3) depreciation and amortization expense, adjusted for corporate-level expenses, certain non-cash items, and certain other items that the Company considers outside the normal course of operations.

The following table presents information about profit or loss for the hotel segment:
For the three months ended September 30,For the nine months ended September 30,
2025202420252024
Revenues      
Room revenue$267,367 $283,614 $831,122 $853,896 
Food and beverage revenue36,884 36,983 116,331 113,515 
Other revenue25,794 25,147 73,814 72,040 
Total revenues330,045 345,744 1,021,267 1,039,451 
Operating expenses      
Room expense74,685 74,558 220,101 217,885 
Food and beverage expense29,314 29,348 88,978 88,279 
Management and franchise fee expense25,253 27,339 78,848 82,783 
Other operating expenses94,112 92,350 278,610 272,951 
Total operating expenses223,364 223,595 666,537 661,898 
Property tax, insurance and other26,647 24,156 80,340 80,743 
Other, net (1)(991)(3,094)(5,934)(11,535)
Hotel EBITDA$81,025 $101,087 $280,324 $308,345 

(1)    Includes miscellaneous hotel segment income, as well as adjustments for corporate-level expenses, certain non-cash items, and certain other items that the Company considers outside the normal course of operations.

The following table provides a reconciliation of the hotel segment profit and loss to the Company’s consolidated totals:
For the three months ended September 30,For the nine months ended September 30,
2025202420252024
(Loss) income before income tax expense$(3,457)$21,022 $28,979 $63,761 
Depreciation and amortization46,996 44,892 139,147 134,045 
Interest expense, net of interest income24,807 24,357 73,619 69,959 
General and administrative11,782 12,781 35,566 41,826 
Loss (gain) on sale of hotel properties, net141 (4,755)(802)(8,301)
Other, net756 2,790 3,815 7,055 
Hotel EBITDA$81,025 $101,087 $280,324 $308,345 

A measure of segment assets is not currently provided to the CODM and has therefore not been included herein.