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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
REVENUE    
Total revenue $ 303,896 $ 328,886
Hotel operating expenses:    
Total hotel expenses 210,887 225,118
Property taxes, insurance and other 17,364 16,537
Depreciation and amortization 40,544 47,855
Advisory services fee 15,201 12,986
Corporate, general and administrative 8,272 2,612
Total operating expenses 292,268 305,108
Gain (loss) on disposition of assets and hotel properties 6,956 (24)
Gain (loss) on derecognition of assets 133,909 0
OPERATING INCOME (LOSS) 152,493 23,754
Equity in earnings (loss) of unconsolidated entities (534) (396)
Interest income 1,984 2,557
Other income (expense) 36 134
Interest expense and amortization of discounts and loan costs (73,961) (74,368)
Interest expense associated with hotels in receivership (12,098) (7,147)
Write-off of premiums, loan costs and exit fees (18) (420)
Gain (loss) on extinguishment of debt 45 0
Realized and unrealized gain (loss) on derivatives 4,761 (5,415)
INCOME (LOSS) BEFORE INCOME TAXES 72,708 (61,301)
Income tax (expense) benefit (303) (221)
NET INCOME (LOSS) 72,405 (61,522)
(Income) loss attributable to noncontrolling interest in consolidated entities 9 0
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership (853) 600
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY 71,561 (60,922)
Preferred dividends (5,011) (3,243)
Deemed dividends on redeemable preferred stock (682) (407)
Add: gain (loss) on extinguishment of preferred stock 1,573 0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 67,441 $ (64,572)
Basic:    
Net income (loss) attributable to common stockholders (in dollars per share) $ 1.74 $ (1.88)
Weighted average common shares outstanding (in shares) 38,458 34,381
Diluted:    
Net income (loss) attributable to common stockholders (in dollars per share) $ 0.60 $ (1.88)
Weighted average common shares outstanding (in shares) 116,729 34,381
Total hotel revenue    
REVENUE    
Total revenue $ 303,257 $ 328,228
Rooms    
REVENUE    
Total revenue 229,207 252,955
Hotel operating expenses:    
Total hotel expenses 54,680 59,203
Food and beverage    
REVENUE    
Total revenue 57,358 58,991
Hotel operating expenses:    
Total hotel expenses 37,831 39,790
Other hotel revenue    
REVENUE    
Total revenue 16,692 16,282
Hotel operating expenses:    
Total hotel expenses 106,826 113,879
Management Fees    
Hotel operating expenses:    
Total hotel expenses 11,550 12,246
Other    
REVENUE    
Total revenue $ 639 $ 658