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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
REVENUE      
Total revenue $ 1,367,533 $ 1,240,859 $ 805,411
Hotel operating expenses:      
Total hotel expenses 925,437 835,993 576,806
Property taxes, insurance and other 70,226 67,338 67,904
Depreciation and amortization 187,807 201,797 218,851
Advisory services fee 48,927 49,897 52,313
Corporate, general and administrative 16,181 9,879 16,153
Total operating expenses 1,248,578 1,164,904 932,027
Gain (loss) on consolidation of VIE and disposition of assets 11,488 300 1,449
OPERATING INCOME (LOSS) 130,443 76,255 (125,167)
Equity in earnings (loss) of unconsolidated entities (1,134) (804) (558)
Interest income 8,978 4,777 207
Other income (expense) 310 415 760
Interest expense and amortization of discounts and loan costs (366,148) (226,995) (156,119)
Write-off of premiums, loan costs and exit fees (3,469) (3,536) (10,612)
Gain (loss) on extinguishment of debt 53,386 0 11,896
Realized and unrealized gain (loss) on derivatives (2,200) 15,166 14,493
INCOME (LOSS) BEFORE INCOME TAXES (179,834) (134,722) (265,100)
Income tax (expense) benefit (900) (6,336) (5,948)
NET INCOME (LOSS) (180,734) (141,058) (271,048)
(Income) loss attributable to noncontrolling interest in consolidated entities 6 0 73
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership 2,239 1,233 3,970
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY (178,489) (139,825) (267,005)
Preferred dividends (15,921) (12,433) (252)
Deemed dividends on redeemable preferred stock (2,673) (946) 0
Add: Gain (loss) on extinguishment of preferred stock 3,390 0 (607)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (193,693) $ (153,204) $ (267,864)
Basic:      
Net income (loss) attributable to common stockholders (in dollars per share) $ (5.61) $ (4.46) $ (12.37)
Weighted average common shares outstanding (in shares) 34,523 34,339 21,625
Diluted:      
Net income (loss) attributable to common stockholders (in dollars per share) $ (5.61) $ (4.46) $ (12.43)
Weighted average common shares outstanding (in shares) 34,523 34,339 21,844
Total hotel revenue      
REVENUE      
Total revenue $ 1,364,732 $ 1,237,975 $ 803,144
Rooms      
REVENUE      
Total revenue 1,059,155 974,002 655,121
Hotel operating expenses:      
Total hotel expenses 249,434 229,115 157,982
Food and beverage      
REVENUE      
Total revenue 232,829 196,663 94,911
Hotel operating expenses:      
Total hotel expenses 161,300 140,775 71,172
Other hotel revenue      
REVENUE      
Total revenue 72,748 67,310 53,112
Hotel operating expenses:      
Total hotel expenses 464,058 421,056 316,638
Management Fees      
Hotel operating expenses:      
Total hotel expenses 50,645 45,047 31,014
Other      
REVENUE      
Total revenue $ 2,801 $ 2,884 $ 2,267