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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Schedule of Segment Information |
|  | Three Months Ended June 30, 2024
|  | Hotels |  | Net Lease |  | Corporate |  | Consolidated
Revenues: |  |  |  |  |  |  |  |
Hotel operating revenues |  | $ | 412,486 |  |  | $ | — |  |  | $ | — |  |  | $ | 412,486 |
Rental income |  | — |  |  | 100,462 |  |  | — |  |  | 100,462 |
Total revenues |  | 412,486 |  |  | 100,462 |  |  | — |  |  | 512,948 |
Expenses: |  |  |  |  |  |  |  |
Hotel operating expenses |  | 328,247 |  |  | — |  |  | — |  |  | 328,247 |
Net lease operating expenses |  | — |  |  | 4,958 |  |  | — |  |  | 4,958 |
Depreciation and amortization |  | 55,389 |  |  | 40,285 |  |  | — |  |  | 95,674 |
General and administrative |  | — |  |  | — |  |  | 10,681 |  |  | 10,681 |
Loss on asset impairment, net |  | 33,107 |  |  | 1,780 |  |  | — |  |  | 34,887 |
Total expenses |  | 416,743 |  |  | 47,023 |  |  | 10,681 |  |  | 474,447 |
Loss on sale of real estate, net |  | (27) |  |  | (5) |  |  | — |  |  | (32) |
Interest income |  | 64 |  |  | 36 |  |  | 719 |  |  | 819 |
Interest expense |  | — |  |  | (11,441) |  |  | (82,409) |  |  | (93,850) |
Loss on early extinguishment of debt, net |  | — |  |  | — |  |  | (16,048) |  |  | (16,048) |
(Loss) income before income tax expense and equity in losses of an investee |  | (4,220) |  |  | 42,029 |  |  | (108,419) |  |  | (70,610) |
Income tax expense |  | — |  |  | — |  |  | (524) |  |  | (524) |
Equity in losses of an investee |  | — |  |  | — |  |  | (2,716) |  |  | (2,716) |
Net (loss) income |  | $ | (4,220) |  |  | $ | 42,029 |  |  | $ | (111,659) |  |  | $ | (73,850) |
|  | Six Months Ended June 30, 2024
|  | Hotels |  | Net Lease |  | Corporate |  | Consolidated
Revenues: |  |  |  |  |  |  |  |
Hotel operating revenues |  | $ | 748,722 |  |  | $ | — |  |  | $ | — |  |  | $ | 748,722 |
Rental income |  | — |  |  | 200,476 |  |  | — |  |  | 200,476 |
Total revenues |  | 748,722 |  |  | 200,476 |  |  | — |  |  | 949,198 |
Expenses: |  |  |  |  |  |  |  |
Hotel operating expenses |  | 633,333 |  |  | — |  |  | — |  |  | 633,333 |
Net lease operating expenses |  | — |  |  | 9,681 |  |  | — |  |  | 9,681 |
Depreciation and amortization |  | 110,475 |  |  | 78,306 |  |  | — |  |  | 188,781 |
General and administrative |  | — |  |  | — |  |  | 21,187 |  |  | 21,187 |
Loss on asset impairment, net |  | 33,107 |  |  | 4,231 |  |  | — |  |  | 37,338 |
Total expenses |  | 776,915 |  |  | 92,218 |  |  | 21,187 |  |  | 890,320 |
Loss on sale of real estate, net |  | (863) |  |  | (2,132) |  |  | — |  |  | (2,995) |
Interest income |  | 127 |  |  | 141 |  |  | 2,513 |  |  | 2,781 |
Interest expense |  | — |  |  | (22,958) |  |  | (162,306) |  |  | (185,264) |
Loss on early extinguishment of debt, net |  | — |  |  | — |  |  | (16,048) |  |  | (16,048) |
(Loss) income before income tax expense and equity in losses of an investee |  | (28,929) |  |  | 83,309 |  |  | (197,028) |  |  | (142,648) |
Income tax expense |  | — |  |  | — |  |  | (1,531) |  |  | (1,531) |
Equity in losses of an investee |  | — |  |  | — |  |  | (8,054) |  |  | (8,054) |
Net (loss) income |  | $ | (28,929) |  |  | $ | 83,309 |  |  | $ | (206,613) |  |  | $ | (152,233) |
|  | As of June 30, 2024
|  | Hotels |  | Net Lease |  | Corporate |  | Consolidated
Total assets |  | $ | 3,955,348 |  |  | $ | 3,010,215 |  |  | $ | 156,098 |  |  | $ | 7,121,661 |
|  | Three Months Ended June 30, 2023
|  | Hotels |  | Net Lease |  | Corporate |  | Consolidated
Revenues: |  |  |  |  |  |  |  |
Hotel operating revenues |  | $ | 404,327 |  |  | $ | — |  |  | $ | — |  |  | $ | 404,327 |
Rental income |  | — |  |  | 99,452 |  |  | — |  |  | 99,452 |
Total revenues |  | 404,327 |  |  | 99,452 |  |  | — |  |  | 503,779 |
Expenses: |  |  |  |  |  |  |  |
Hotel operating expenses |  | 309,100 |  |  | — |  |  | — |  |  | 309,100 |
Net lease operating expenses |  | — |  |  | 5,202 |  |  | (830) |  |  | 4,372 |
Depreciation and amortization |  | 53,449 |  |  | 41,122 |  |  | — |  |  | 94,571 |
General and administrative |  | — |  |  | — |  |  | 12,420 |  |  | 12,420 |
Transaction related costs |  | 473 |  |  | 415 |  |  | 43 |  |  | 931 |
Loss on asset impairment, net |  | — |  |  | 9,005 |  |  | — |  |  | 9,005 |
Total expenses |  | 363,022 |  |  | 55,744 |  |  | 11,633 |  |  | 430,399 |
Gain (loss) on sale of real estate, net |  | 20 |  |  | (82) |  |  | — |  |  | (62) |
Loss on equity securities, net |  | — |  |  | — |  |  | (593) |  |  | (593) |
Interest income |  | 21 |  |  | 23 |  |  | 3,424 |  |  | 3,468 |
Interest expense |  | — |  |  | (11,435) |  |  | (71,068) |  |  | (82,503) |
Loss on early extinguishment of debt |  | — |  |  | — |  |  | (238) |  |  | (238) |
Income (loss) before income tax expense and equity in earnings of an investee |  | 41,346 |  |  | 32,214 |  |  | (80,108) |  |  | (6,548) |
Income tax expense |  | — |  |  | — |  |  | (5,247) |  |  | (5,247) |
Equity in earnings of an investee |  | — |  |  | — |  |  | 517 |  |  | 517 |
Net income (loss) |  | $ | 41,346 |  |  | $ | 32,214 |  |  | $ | (84,838) |  |  | $ | (11,278) |
|  | Six Months Ended June 30, 2023
|  | Hotels |  | Net Lease |  | Corporate |  | Consolidated
Revenues: |  |  |  |  |  |  |  |
Hotel operating revenues |  | $ | 739,123 |  |  | $ | — |  |  | $ | — |  |  | $ | 739,123 |
Rental income |  | — |  |  | 193,865 |  |  | — |  |  | 193,865 |
Total revenues |  | 739,123 |  |  | 193,865 |  |  | — |  |  | 932,988 |
Expenses: |  |  |  |  |  |  |  |
Hotel operating expenses |  | 608,666 |  |  | — |  |  | — |  |  | 608,666 |
Net lease operating expenses |  | — |  |  | 8,277 |  |  | — |  |  | 8,277 |
Depreciation and amortization |  | 106,834 |  |  | 87,776 |  |  | — |  |  | 194,610 |
General and administrative |  | — |  |  | — |  |  | 23,331 |  |  | 23,331 |
Transaction related costs |  | 473 |  |  | 415 |  |  | 930 |  |  | 1,818 |
Loss on asset impairment, net |  | — |  |  | 9,005 |  |  | — |  |  | 9,005 |
Total expenses |  | 715,973 |  |  | 105,473 |  |  | 24,261 |  |  | 845,707 |
Gain (loss) on sale of real estate, net |  | 41,918 |  |  | (82) |  |  | — |  |  | 41,836 |
Gain on equity securities, net |  | — |  |  | — |  |  | 48,837 |  |  | 48,837 |
Interest income |  | 51 |  |  | 25 |  |  | 6,178 |  |  | 6,254 |
Interest expense |  | — |  |  | (17,757) |  |  | (146,326) |  |  | (164,083) |
Loss on early extinguishment of debt |  | — |  |  | — |  |  | (282) |  |  | (282) |
Income (loss) before income tax expense and equity in losses of an investee |  | 65,119 |  |  | 70,578 |  |  | (115,854) |  |  | 19,843 |
Income tax expense |  | — |  |  | — |  |  | (1,467) |  |  | (1,467) |
Equity in losses of an investee |  | — |  |  | — |  |  | (3,704) |  |  | (3,704) |
Net income (loss) |  | $ | 65,119 |  |  | $ | 70,578 |  |  | $ | (121,025) |  |  | $ | 14,672 |
|  | As of December 31, 2023
|  | Hotels |  | Net Lease |  | Corporate |  | Consolidated
Total assets |  | $ | 3,943,213 |  |  | $ | 3,084,686 |  |  | $ | 328,217 |  |  | $ | 7,356,116 |

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