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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
REVENUE    
Total revenue $ 277,359 $ 303,896
Hotel operating expenses:    
Total hotel expenses 188,474 210,887
Property taxes, insurance and other 16,049 17,364
Depreciation and amortization 37,339 40,544
Advisory services fee 11,545 15,201
Corporate, general and administrative 4,332 8,272
Total operating expenses 257,739 292,268
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) 61,534 152,493
Equity in earnings (loss) of unconsolidated entities (431) (534)
Interest income 1,214 1,984
Other income (expense) 0 36
Interest expense and amortization of discounts and loan costs (66,802) (73,961)
Interest expense associated with hotels in receivership (10,046) (12,098)
Write-off of premiums, loan costs and exit fees (4,597) (18)
Gain (loss) on extinguishment of debt (13) 45
Realized and unrealized gain (loss) on derivatives (2,740) 4,761
INCOME (LOSS) BEFORE INCOME TAXES (21,881) 72,708
Income tax (expense) benefit (317) (303)
NET INCOME (LOSS) (22,198) 72,405
(Income) loss attributable to noncontrolling interest in consolidated entities 1,776 9
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership 451 (853)
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY (19,971) 71,561
Preferred dividends (6,729) (5,011)
Deemed dividends on redeemable preferred stock (1,057) (682)
Gain (loss) on extinguishment of preferred stock 0 1,573
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (27,757) $ 67,441
Basic:    
Net income (loss) attributable to common stockholders (in dollars per share) $ (4.91) $ 17.45
Weighted average common shares outstanding (in shares) 5,651 3,846
Diluted:    
Net income (loss) attributable to common stockholders (in dollars per share) $ (4.91) $ 5.99
Weighted average common shares outstanding (in shares) 5,651 11,673
Total Hotel    
REVENUE    
Total revenue $ 277,050 $ 303,257
Rooms    
REVENUE    
Total revenue 206,301 229,207
Hotel operating expenses:    
Total hotel expenses 47,790 54,680
Food and beverage    
REVENUE    
Total revenue 54,529 57,358
Hotel operating expenses:    
Total hotel expenses 35,726 37,831
Other hotel    
REVENUE    
Total revenue 16,220 16,692
Hotel operating expenses:    
Total hotel expenses 95,110 106,826
Management Fees    
Hotel operating expenses:    
Total hotel expenses 9,848 11,550
Other    
REVENUE    
Total revenue $ 309 $ 639