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Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables include revenues, significant hotel operating expenses, and Hotel Adjusted EBITDA for the Company’s hotels, reconciled to the consolidated amounts included in the Company’s consolidated statements of operations (in thousands):

												Three Months Ended March 31,
																		2025						2024
REVENUE
Rooms																		$	202,251					$	225,650
Food and beverage																		54,529						57,358
Other hotel revenue																		16,153						16,627
Total hotel revenue																		272,933						299,635
EXPENSES
Rooms																		46,858						53,740
Food and beverage																		35,726						37,831
Direct expenses																		2,175						2,309
Indirect expenses:
Property, general and administration																		24,398						32,461
Sales and marketing																		28,410						31,505
Information and telecommunications systems																		4,583						4,320
Repairs and maintenance																		13,175						14,380
Energy																		9,939						11,283
Lease expense																		1,264						1,102
Ownership expenses																		555						590
Incentive management fee																		3,660						4,757
Management fees																		9,390						10,908

												Three Months Ended March 31,
																		2025						2024
Property taxes																		9,927						10,297
Other taxes																		116						224
Insurance																		5,422						6,444
Total expenses																		195,598						222,151
Hotel adjusted EBITDA																		$	77,335					$	77,484
Reconciliation of hotel operating income (loss) to net income (loss)
												Three Months Ended March 31,
																		2025						2024
Hotel adjusted EBITDA																		$	77,335					$	77,484
Other revenue																		309						639
Stirling OP hotel profit (loss)																		1,129						800
Ownership expenses included in other hotel expenses																		(5,347)						(2,651)
Ownership expenses included in property taxes, insurance and other																		(320)						(228)
Management fees																		(270)						(461)
Depreciation and amortization																		(37,339)						(40,544)
Advisory services fee																		(11,545)						(15,201)
Corporate, general, and administrative																		(4,332)						(8,210)
Gain (loss) on disposition of assets and hotel properties																		31,868						6,956
Gain (loss) on derecognition of assets																		10,046						133,909
Equity in earnings (loss) of unconsolidated entities																		(431)						(534)
Interest income																		1,214						1,984
Other income (expense), net																		—						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 tax (expense) benefit																		(317)						(303)
Net income (loss)																		$	(22,198)					$	72,405

Reconciliation of Revenue from Segments to Consolidated

The following table reconciles segment total revenue to total consolidated revenue:

									Three Months Ended March 31,
															2025						2024
Segment total hotel revenue															$	272,933					$	299,635
Stirling OP total hotel revenue															4,117						3,622
Consolidated total hotel revenue															277,050						303,257
Other revenue															309						639
Total consolidated revenue															$	277,359					$	303,896

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 22
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-Name Accounting Standards Codification
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-Section 50
-Paragraph 30
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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