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v3.22.2.2

Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2022
Segment Reporting [Abstract] |
Schedule of segment information |
|  | For the Three Months Ended September 30, 2022
|  | Hotels |  | Net Lease |  | Corporate |  | Consolidated
Revenues: |  |  |  |  |  |  |  |
Hotel operating revenues |  | $ | 400,453 |  |  | $ | — |  |  | $ | — |  |  | $ | 400,453 |
Rental income |  | — |  |  | 97,798 |  |  | — |  |  | 97,798 |
Total revenues |  | 400,453 |  |  | 97,798 |  |  | — |  |  | 498,251 |
Expenses: |  |  |  |  |  |  |  |
Hotel operating expenses |  | 318,266 |  |  | — |  |  | — |  |  | 318,266 |
Other operating expenses |  | — |  |  | 3,511 |  |  | — |  |  | 3,511 |
Depreciation and amortization |  | 55,780 |  |  | 45,734 |  |  | — |  |  | 101,514 |
General and administrative |  | — |  |  | — |  |  | 11,293 |  |  | 11,293 |
Loss on asset impairment, net |  | 867 |  |  | 305 |  |  | — |  |  | 1,172 |
Total expenses |  | 374,913 |  |  | 49,550 |  |  | 11,293 |  |  | 435,756 |
(Loss) gain on sale of real estate, net |  | (188) |  |  | 24 |  |  | — |  |  | (164) |
Unrealized gains on equity securities, net |  | — |  |  | — |  |  | 23,056 |  |  | 23,056 |
Interest income |  | 6 |  |  | 28 |  |  | 1,408 |  |  | 1,442 |
Interest expense |  | — |  |  | — |  |  | (81,740) |  |  | (81,740) |
Income (loss) before income taxes and equity in earnings of an investee |  | 25,358 |  |  | 48,300 |  |  | (68,569) |  |  | 5,089 |
Income tax expense |  | — |  |  | — |  |  | (390) |  |  | (390) |
Equity in earnings of an investee |  | — |  |  | — |  |  | 2,801 |  |  | 2,801 |
Net income (loss) |  | $ | 25,358 |  |  | $ | 48,300 |  |  | $ | (66,158) |  |  | $ | 7,500 |
|  | For the Nine Months Ended September 30, 2022
|  | Hotels |  | Net Lease |  | Corporate |  | Consolidated
Revenues: |  |  |  |  |  |  |  |
Hotel operating revenues |  | $ | 1,116,843 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,116,843 |
Rental income |  | — |  |  | 290,949 |  |  | — |  |  | 290,949 |
Total revenues |  | 1,116,843 |  |  | 290,949 |  |  | — |  |  | 1,407,792 |
Expenses: |  |  |  |  |  |  |  |
Hotel operating expenses |  | 933,803 |  |  | — |  |  | — |  |  | 933,803 |
Other operating expenses |  | — |  |  | 9,162 |  |  | — |  |  | 9,162 |
Depreciation and amortization |  | 167,821 |  |  | 138,326 |  |  | — |  |  | 306,147 |
General and administrative |  | — |  |  | — |  |  | 35,743 |  |  | 35,743 |
Transaction related costs |  | — |  |  | — |  |  | 1,920 |  |  | 1,920 |
Loss on asset impairment, net |  | 9,483 |  |  | 237 |  |  | — |  |  | 9,720 |
Total expenses |  | 1,111,107 |  |  | 147,725 |  |  | 37,663 |  |  | 1,296,495 |
Gain (loss) on sale of real estate, net |  | 44,682 |  |  | (447) |  |  | — |  |  | 44,235 |
Unrealized gains on equity securities, net |  | — |  |  | — |  |  | 2,737 |  |  | 2,737 |
Interest income |  | 7 |  |  | 28 |  |  | 2,700 |  |  | 2,735 |
Interest expense |  | — |  |  | — |  |  | (263,904) |  |  | (263,904) |
Loss on early extinguishment of debt |  | — |  |  | — |  |  | (791) |  |  | (791) |
Income (loss) before income taxes and equity in earnings of an investee |  | 50,425 |  |  | 142,805 |  |  | (296,921) |  |  | (103,691) |
Income tax expense |  | — |  |  | — |  |  | (1,558) |  |  | (1,558) |
Equity in earnings of an investee |  | — |  |  | — |  |  | 4,277 |  |  | 4,277 |
Net income (loss) |  | $ | 50,425 |  |  | $ | 142,805 |  |  | $ | (294,202) |  |  | $ | (100,972) |
|  | As of September 30, 2022
|  | Hotels |  | Net Lease |  | Corporate |  | Consolidated
Total assets |  | $ | 3,309,768 |  |  | $ | 3,473,119 |  |  | $ | 849,826 |  |  | $ | 7,632,713 |
|  | For the Three Months Ended September 30, 2021
|  | Hotels |  | Net Lease |  | Corporate |  | Consolidated
Revenues: |  |  |  |  |  |  |  |
Hotel operating revenues |  | $ | 338,375 |  |  | $ | — |  |  | $ | — |  |  | $ | 338,375 |
Rental income |  | — |  |  | 98,724 |  |  | — |  |  | 98,724 |
Total revenues |  | 338,375 |  |  | 98,724 |  |  | — |  |  | 437,099 |
Expenses: |  |  |  |  |  |  |  |
Hotel operating expenses |  | 285,233 |  |  | — |  |  | — |  |  | 285,233 |
Other operating expenses |  | — |  |  | 4,437 |  |  | — |  |  | 4,437 |
Depreciation and amortization |  | 66,065 |  |  | 58,098 |  |  | — |  |  | 124,163 |
General and administrative |  | — |  |  | — |  |  | 14,231 |  |  | 14,231 |
Transition related costs |  | — |  |  | — |  |  | 3,149 |  |  | 3,149 |
Total expenses |  | 351,298 |  |  | 62,535 |  |  | 17,380 |  |  | 431,213 |
Gain on sale of real estate, net |  | — |  |  | 94 |  |  | — |  |  | 94 |
Unrealized gain on equity securities, net |  | — |  |  | — |  |  | 24,348 |  |  | 24,348 |
Interest income |  | — |  |  | — |  |  | 203 |  |  | 203 |
Interest expense |  | — |  |  | — |  |  | (92,458) |  |  | (92,458) |
Income (loss) before income taxes and equity in earnings of an investee |  | (12,923) |  |  | 36,283 |  |  | (85,287) |  |  | (61,927) |
Income tax benefit |  | — |  |  | — |  |  | 55 |  |  | 55 |
Equity in earnings of an investee |  | — |  |  | — |  |  | 2,158 |  |  | 2,158 |
Net income (loss) |  | $ | (12,923) |  |  | $ | 36,283 |  |  | $ | (83,074) |  |  | $ | (59,714) |
|  | For the Nine Months Ended September 30, 2021
|  | Hotels |  | Net Lease |  | Corporate |  | Consolidated
Revenues: |  |  |  |  |  |  |  |
Hotel operating revenues |  | $ | 787,463 |  |  | $ | — |  |  | $ | — |  |  | $ | 787,463 |
Rental income |  | 700 |  |  | 286,042 |  |  | — |  |  | 286,742 |
Total revenues |  | 788,163 |  |  | 286,042 |  |  | — |  |  | 1,074,205 |
Expenses: |  |  |  |  |  |  |  |
Hotel operating expenses |  | 723,769 |  |  | — |  |  | — |  |  | 723,769 |
Other operating expenses |  | — |  |  | 11,758 |  |  | — |  |  | 11,758 |
Depreciation and amortization |  | 200,772 |  |  | 169,436 |  |  | — |  |  | 370,208 |
General and administrative |  | — |  |  | — |  |  | 40,840 |  |  | 40,840 |
Transition costs |  | 23,159 |  |  | — |  |  | 5,775 |  |  | 28,934 |
Loss on asset impairment |  | — |  |  | 2,110 |  |  | — |  |  | 2,110 |
Total expenses |  | 947,700 |  |  | 183,304 |  |  | 46,615 |  |  | 1,177,619 |
Gain on sale of real estate, net |  | 10,813 |  |  | 121 |  |  | — |  |  | 10,934 |
Unrealized gain on equity securities, net |  | — |  |  | — |  |  | 20,367 |  |  | 20,367 |
Interest income |  | — |  |  | — |  |  | 485 |  |  | 485 |
Interest expense |  | — |  |  | — |  |  | (273,227) |  |  | (273,227) |
Income (loss) before income taxes and equity in earnings of an investee |  | (148,724) |  |  | 102,859 |  |  | (298,990) |  |  | (344,855) |
Income tax expense |  | — |  |  | — |  |  | (1,009) |  |  | (1,009) |
Equity in earnings of an investee |  | — |  |  | — |  |  | 50 |  |  | 50 |
Net income (loss) |  | $ | (148,724) |  |  | $ | 102,859 |  |  | $ | (299,949) |  |  | $ | (345,814) |
|  | As of December 31, 2021
|  | Hotels |  | Net Lease |  | Corporate |  | Consolidated
Total assets |  | $ | 4,487,101 |  |  | $ | 3,580,095 |  |  | $ | 1,086,119 |  | ` | $ | 9,153,315 |

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