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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
REVENUE      
Total revenue $ 1,172,459,000 $ 1,367,533,000 $ 1,240,859,000
Hotel operating expenses:      
Total hotel expenses 815,356,000 925,437,000 835,993,000
Property taxes, insurance and other 64,103,000 70,226,000 67,338,000
Depreciation and amortization 152,776,000 187,807,000 201,797,000
Impairment charges 59,331,000 0 0
Advisory services fee 58,606,000 48,927,000 49,897,000
Corporate, general and administrative 24,662,000 16,181,000 9,879,000
Total operating expenses 1,174,834,000 1,248,578,000 1,164,904,000
Gain (loss) on consolidation of VIE and disposition of assets and hotel properties 94,406,000 11,488,000 300,000
Gain (loss) on derecognition of assets 167,177,000 0 0
OPERATING INCOME (LOSS) 259,208,000 130,443,000 76,255,000
Equity in earnings (loss) of unconsolidated entities (2,370,000) (1,134,000) (804,000)
Interest income 6,942,000 8,978,000 4,777,000
Other income (expense) 108,000 310,000 415,000
Interest expense and amortization of discounts and loan costs (273,359,000) (326,970,000) (207,916,000)
Interest expense associated with hotels in receivership (45,592,000) (39,178,000) (19,079,000)
Write-off of premiums, loan costs and exit fees (5,245,000) (3,469,000) (3,536,000)
Gain (loss) on extinguishment of debt 2,774,000 53,386,000 0
Realized and unrealized gain (loss) on derivatives (6,480,000) (2,200,000) 15,166,000
INCOME (LOSS) BEFORE INCOME TAXES (64,014,000) (179,834,000) (134,722,000)
Income tax (expense) benefit (997,000) (900,000) (6,336,000)
NET INCOME (LOSS) (65,011,000) (180,734,000) (141,058,000)
(Income) loss attributable to noncontrolling interest in consolidated entities 4,028,000 6,000 0
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership 683,000 2,239,000 1,233,000
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY (60,300,000) (178,489,000) (139,825,000)
Preferred dividends (22,686,000) (15,921,000) (12,433,000)
Deemed dividends on redeemable preferred stock (2,906,000) (2,673,000) (946,000)
Gain (loss) on extinguishment of preferred stock 3,370,000 3,390,000 0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (82,522,000) $ (193,693,000) $ (153,204,000)
Basic:      
Net income (loss) attributable to common stockholders (in dollars per share) $ (17.54) $ (56.11) $ (44.61)
Weighted average common shares outstanding (in shares) 4,706 3,452 3,434
Diluted:      
Net income (loss) attributable to common stockholders (in dollars per share) $ (17.54) $ (56.11) $ (44.61)
Weighted average common shares outstanding (in shares) 4,706 3,452 3,434
Total Hotel      
REVENUE      
Total revenue $ 1,170,134,000 $ 1,364,732,000 $ 1,237,975,000
Rooms      
REVENUE      
Total revenue 889,753,000 1,059,155,000 974,002,000
Hotel operating expenses:      
Total hotel expenses 209,569,000 249,434,000 229,115,000
Food and beverage      
REVENUE      
Total revenue 212,581,000 232,829,000 196,663,000
Hotel operating expenses:      
Total hotel expenses 145,304,000 161,300,000 140,775,000
Other hotel      
REVENUE      
Total revenue 67,800,000 72,748,000 67,310,000
Hotel operating expenses:      
Total hotel expenses 418,077,000 464,058,000 421,056,000
Management Fees      
Hotel operating expenses:      
Total hotel expenses 42,406,000 50,645,000 45,047,000
Other      
REVENUE      
Total revenue $ 2,325,000 $ 2,801,000 $ 2,884,000