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Dispositions, Impairment Charges and Assets Held For Sale | 3 Months Ended
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Mar. 31, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Dispositions, Impairment Charges and Assets Held For Sale | Dispositions and Impairment Charges Dispositions On January 10, 2025, the Company completed the sale of the 315-room Courtyard Boston Downtown located in Boston, Massachusetts, for $123.0 million, subject to customary pro rations and adjustments. The results of operations for disposed and derecognized hotel properties are included in net income (loss) through the date of disposition. See note 2 for the fiscal year 2024 and 2025 dispositions. The following table includes condensed financial information for the three months ended March 31, 2025 and 2024 f rom the Company’s dispositions (in thousands):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024 |  |
Total hotel revenue |  |  |  |  | $ | 159 |  |  | $ | 36,385 |  |  |
Total hotel operating expenses |  |  |  |  | (363) |  |  | (27,036) |  |  |
Property taxes, insurance and other |  |  |  |  | 180 |  |  | (2,971) |  |  |
Depreciation and amortization |  |  |  |  | — |  |  | (4,221) |  |  |
Total operating expenses |  |  |  |  | (183) |  |  | (34,228) |  |  |
Gain (loss) on consolidation of VIE and disposition of assets and hotel properties |  |  |  |  | 31,868 |  |  | 6,956 |  |  |
Gain (loss) on derecognition of assets |  |  |  |  | 10,046 |  |  | 133,909 |  |  |
Operating income (loss) |  |  |  |  | 41,890 |  |  | 143,022 |  |  |
Interest income |  |  |  |  | — |  |  | 101 |  |  |
Interest expense and amortization of discounts and loan costs |  |  |  |  | (126) |  |  | (6,310) |  |  |
Interest expense associated with hotels in receivership |  |  |  |  | (10,046) |  |  | (12,098) |  |  |
Income (loss) before income taxes |  |  |  |  | 31,718 |  |  | 124,715 |  |  |
(Income) loss before income taxes attributable to redeemable noncontrolling interests in operating partnership |  |  |  |  | (507) |  |  | (1,559) |  |  |
Net income (loss) attributable to the Company |  |  |  |  | $ | 31,211 |  |  | $ | 123,156 |  |  |
Impairment Charges For the three months ended March 31, 2025 and 2024, no impairment charges were recorded.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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