Sale of Hotel Properties

3 Months Ended

Mar. 31, 2026

Discontinued Operations and Disposal Groups [Abstract]

Sales of Hotel Properties

During the three months ended March 31, 2026, the Company executed a purchase and sale agreement to sell a hotel property with a carrying value of $16.4 million. An impairment loss of $3.6 million was recognized to adjust the hotel property to its fair value, with this loss included in (loss) gain on sale of hotel properties, net, in the accompanying consolidated statement of operations and comprehensive income (loss). Fair value was determined using the contractual sales price, classified as a Level 2 measurement in the fair value hierarchy. The sale is expected to close during the second quarter of 2026.

On March 6, 2025, the Company sold the 181-room Courtyard Atlanta Buckhead hotel property in Atlanta, Georgia for a sales price of $24.3 million. The Company recorded a net gain of $1.3 million for the three months ended March 31, 2025 in

connection with the sale of this hotel property.