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Segment Reporting (Tables)

9 Months Ended

Sep. 30, 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 September 30,												Nine Months Ended September 30,
						2025						2024						2025						2024
REVENUE
Rooms						$	201,916					$	212,962					$	635,420					$	685,774
Food and beverage						45,922						46,384						155,787						159,002
Other hotel revenue						17,838						16,672						53,064						50,298
Total hotel revenue						265,676						276,018						844,271						895,074
EXPENSES
Rooms						50,246						50,929						149,696						159,682
Food and beverage						32,887						33,908						104,068						109,247
Direct expenses						2,406						2,182						7,029						7,034
Indirect expenses:
Property, general and administration						23,019						27,017						75,470						90,869
Sales and marketing						29,260						29,752						89,901						94,267
Information and telecommunications systems						4,566						4,565						12,769						14,421
Repairs and maintenance						12,565						13,703						39,463						42,041
Energy						12,461						12,067						33,146						33,546
Lease expense						928						917						3,324						3,083
Ownership expenses						503						560						1,647						1,783
Incentive management fee						2,842						3,233						11,721						13,498
Management fees						9,099						9,693						28,949						31,870
Property taxes						10,888						9,655						30,949						30,851
Other taxes (refunds)						107						222						433						(659)
Insurance						5,159						5,782						16,214						18,262
Total expenses						196,936						204,185						604,779						649,795
Hotel adjusted EBITDA						$	68,740					$	71,833					$	239,492					$	245,279

						Three Months Ended September 30,												Nine Months Ended September 30,
						2025						2024						2025						2024
Reconciliation of hotel operating income (loss) to net income (loss)
Hotel adjusted EBITDA						$	68,740					$	71,833					$	239,492					$	245,279
Other revenue						385						582						1,150						1,904
Ownership expenses included in other hotel expenses						(12,425)						(6,099)						(22,986)						(11,577)
Ownership expenses included in property taxes, insurance and other						(58)						(2,403)						(898)						(3,379)
Management fees						(65)						(209)						(408)						(750)
Depreciation and amortization						(34,589)						(37,740)						(107,204)						(115,471)
Impairment charges						(18,374)						—						(19,821)						—
Advisory services fee						(10,550)						(11,856)						(34,112)						(38,531)
Corporate, general, and administrative						(7,303)						(5,059)						(17,120)						(20,462)
Gain (loss) on disposition of assets and hotel properties						16,753						9						55,305						94,406
Gain (loss) on derecognition of assets						9,703						11,114						29,649						156,748
Equity in earnings (loss) of unconsolidated entities						129						(133)						(258)						(828)
Interest income						1,199						1,771						3,666						5,443
Other income (expense), net						—						36						—						108
Interest expense and amortization of discounts and loan costs						(62,879)						(66,825)						(200,368)						(209,202)
Interest expense associated with hotels in receivership						(9,684)						(11,120)						(29,632)						(35,162)
Write-off of premiums, loan costs and exit fees						(2,278)						(17)						(8,361)						(3,831)
Gain (loss) on extinguishment of debt						58						2,745						43						2,790
Realized and unrealized gain (loss) on derivatives						(1,228)						(6,202)						(4,804)						(84)
Income tax (expense) benefit						(259)						445						(695)						(3,313)
Net income (loss)						$	(62,725)					$	(59,128)					$	(117,362)					$	64,088

Schedule of Reconciliation of Revenue from Segments to Consolidated

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

			Three Months Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
Consolidated total hotel revenue			265,676						276,018						844,271						895,074
Other revenue			385						582						1,150						1,904
Total consolidated revenue			$	266,061					$	276,600					$	845,421					$	896,978

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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- 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

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