XML 84 R68.htm IDEA: XBRL DOCUMENT v3.22.0.1
Indebtedness, net - Narrative (Details)
1 Months Ended 12 Months Ended
Oct. 12, 2021
$ / shares
Feb. 09, 2021
extension
Jan. 15, 2021
USD ($)
extension
Aug. 19, 2020
USD ($)
Nov. 30, 2020
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Jan. 16, 2023
Sep. 21, 2020
Sep. 15, 2020
Jul. 23, 2020
USD ($)
Jul. 09, 2020
USD ($)
Jun. 22, 2020
USD ($)
May 12, 2020
USD ($)
Debt Instrument [Line Items]                              
Debt balance           $ 3,884,622,000                  
Gain (loss) on extinguishment of debt           11,896,000 $ 90,349,000 $ 0              
Fair value of derivative liability     $ 43,700,000                        
Gain (loss) recognized on troubled debt restructuring             0                
Non-cash loan principal associated with default interest and late charges           33,245,000 47,453,000 $ 0              
Amount of capitalized principal that was amortized           35,700,000 20,000,000                
Derivative liability | Embedded debt derivative                              
Debt Instrument [Line Items]                              
Cash payment, percentage of loans advanced     15.00%                        
Future issuance of warrants, percentage of outstanding common stock     19.90%                        
Maximum | Derivative liability | Embedded debt derivative                              
Debt Instrument [Line Items]                              
Future issuance of warrants, percentage of outstanding common stock, increase, dependent on delayed draw term loans drawn     15.00%                        
Future issuance of warrants, percentage of outstanding common stock, decrease, dependent on borrower delivering equity pledges from certain subsidiaries     4.00%                        
Oaktree Capital Management, L.P. | Derivative liability | Embedded debt derivative                              
Debt Instrument [Line Items]                              
Future issuance of warrants, percentage of outstanding common stock 19.90%                            
Future issuance of warrants, price per share of common stock, excess price (in dollars per share) | $ / shares $ 40                            
Future issuance of warrants, reduction of obligations, percentage of amount in excess 25.00%                            
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Embassy Suites New York Manhattan Times Square                              
Debt Instrument [Line Items]                              
Consideration for disposal       $ 143,900,000                     $ 143,900,000
Consideration in cash       35,100,000                     35,100,000
Consideration in the form of the assumption of the loan       108,800,000                     108,800,000
Gain (loss) on disposal             (40,400,000)                
Gain (loss) on extinguishment of debt             4,300,000                
Disposal Group, Disposed of by Sale, Not Discontinued Operations | W Hotel Minneapolis, Minnesota                              
Debt Instrument [Line Items]                              
Gain (loss) on extinguishment of debt             1,100,000                
Assignment of equity interests (as a percent)                     100.00%        
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Courtyard Louisville, Courtyard Ft. Lauderdale and Residence Inn Lake Buena Vista                              
Debt Instrument [Line Items]                              
Gain (loss) on extinguishment of debt             19,700,000                
Assignment of equity interests (as a percent)                   100.00%          
Rockbridge Portfolio                              
Debt Instrument [Line Items]                              
Debt balance                         $ 144,200,000    
Gain (loss) on extinguishment of debt             65,200,000                
Credit Agreement, Initial Term Loan and Initial Delayed Draw Term Loan | Oaktree Capital Management, L.P.                              
Debt Instrument [Line Items]                              
Interest rate     16.00%                        
Interest rate term (in years)     2 years                        
Term to have the option to pay accrued interest in kind (in years)     2 years                        
Credit Agreement, Initial Term Loan and Initial Delayed Draw Term Loan | Oaktree Capital Management, L.P. | Forecast                              
Debt Instrument [Line Items]                              
Interest rate                 14.00%            
Credit Agreement, Initial Term Loan                              
Debt Instrument [Line Items]                              
Initial term of loan (in years)     3 years                        
Number of extension options | extension     2                        
Term of extension option (in years)     1 year                        
Credit Agreement, Additional Delayed Draw Term Loan | Oaktree Capital Management, L.P.                              
Debt Instrument [Line Items]                              
Interest rate     18.50%                        
Interest rate term (in years)     2 years                        
Credit Agreement, Additional Delayed Draw Term Loan | Oaktree Capital Management, L.P. | Forecast                              
Debt Instrument [Line Items]                              
Interest rate                 16.50%            
Mortgages                              
Debt Instrument [Line Items]                              
Outstanding principal balance with waived or deferred payments           3,600,000,000                  
Debt balance           3,700,000,000           $ 56,000,000   $ 45,800,000 108,800,000
Write off of default interest and late charges           1,400,000                  
Mortgages | Mortgage loan 26                              
Debt Instrument [Line Items]                              
Debt balance           0 19,369,000                
Gain (loss) on extinguishment of debt           $ 10,600,000                  
Interest rate           4.45%                  
Mortgages | Mortgage loan 13                              
Debt Instrument [Line Items]                              
Debt balance           $ 419,000,000 419,000,000                
Number of extension options | extension   5                          
Term of extension option (in years)   1 year     1 year                    
Mortgages | Mortgage loan 25                              
Debt Instrument [Line Items]                              
Debt balance           $ 50,098,000 $ 50,098,000                
Interest rate             4.45%                
Subordinated Debt                              
Debt Instrument [Line Items]                              
Debt balance                       $ 8,000,000   $ 5,800,000 $ 36,200,000
Extinguishment of debt       $ 36,200,000                      
Line of Credit | Credit Agreement, Initial Term Loan | Oaktree Capital Management, L.P.                              
Debt Instrument [Line Items]                              
Principal amount     $ 200,000,000                        
Line of Credit | Credit Agreement, Initial Term Loan | Oaktree Capital Management, L.P. | Minimum                              
Debt Instrument [Line Items]                              
Principal amount     400,000,000                        
Line of Credit | Credit Agreement, Initial Delayed Draw Term Loan | Oaktree Capital Management, L.P.                              
Debt Instrument [Line Items]                              
Principal amount     150,000,000                        
Line of Credit | Credit Agreement, Additional Delayed Draw Term Loan | Oaktree Capital Management, L.P.                              
Debt Instrument [Line Items]                              
Principal amount     $ 100,000,000                        
Line of Credit | Credit Agreement, Initial and Additional Delayed Draw Term Loan | Oaktree Capital Management, L.P.                              
Debt Instrument [Line Items]                              
Commitment period (in months) 42 months   30 months