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Fair Value of Assets and Liabilities (Tables) | 6 Months Ended
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Jun. 30, 2024
Fair Value Disclosures [Abstract] |
Schedule of Certain of the Entity's Assets Carried at Fair Value, Categorized by the Level of Inputs Used in the Valuation of Each Asset | The table below presents certain of our assets carried at fair value at June 30, 2024, categorized by the level of inputs, as defined in the fair value hierarchy under GAAP, used in the valuation of each asset.
|  |  |  | Fair Value at Reporting Date Using
Description |  | Total |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Non-recurring Fair Value Measurement Assets: |  |  |  |  |  |  |  |
Assets of properties held for sale (1)(2) |  | $ | 44,025 |  |  | $ | — |  |  | $ | 40,211 |  |  | $ | 3,814 |
(1)We recorded impairment charges totaling $33,449 during the six months ended June 30, 2024, to reduce the carrying value of eight hotels and two net lease properties in our condensed consolidated balance sheet to their estimated fair value, less estimated costs to sell of $1,497, based on negotiated sales prices with third party buyers (Level 2 inputs as defined in the fair value hierarchy under GAAP). (2)We recorded impairment charges totaling $3,889 during the six months ended June 30, 2024, to reduce the carrying value of three net lease properties in our condensed consolidated balance sheet to their estimated fair value, less estimated costs to sell of $270, based on brokers’ opinion of values (Level 3 inputs as defined in the fair value hierarchy under GAAP).
Schedule of Fair Value of Additional Financial Instruments | At June 30, 2024 and December 31, 2023, the fair values of these financial instruments approximated their carrying values in our condensed consolidated balance sheets due to their short-term nature or floating interest rates, except as follows:
|  | June 30, 2024 |  | December 31, 2023
|  | Carrying Value (1) |  | Fair Value |  | Carrying Value (1) |  | Fair Value
Senior Unsecured Notes, due 2025 at 4.50% |  | $ | — |  |  | $ | — |  |  | $ | 349,181 |  |  | $ | 341,688 |
Senior Unsecured Notes, due 2025 at 7.50% |  | — |  |  | — |  |  | 796,007 |  |  | 808,888 |
Senior Unsecured Notes, due 2026 at 5.25% |  | 348,165 |  |  | 338,891 |  |  | 347,601 |  |  | 339,780 |
Senior Unsecured Notes, due 2026 at 4.75% |  | 448,652 |  |  | 421,650 |  |  | 448,347 |  |  | 419,909 |
Senior Unsecured Notes, due 2027 at 4.95% |  | 398,050 |  |  | 363,492 |  |  | 397,672 |  |  | 362,108 |
Senior Guaranteed Unsecured Notes, due 2027 at 5.50% |  | 446,195 |  |  | 418,023 |  |  | 445,631 |  |  | 412,002 |
Net Lease Mortgage Notes, due 2028 at 5.60% |  | 563,727 |  |  | 581,308 |  |  | 558,876 |  |  | 585,784 |
Senior Unsecured Notes, due 2028 at 3.95% |  | 395,930 |  |  | 334,992 |  |  | 395,355 |  |  | 327,708 |
Senior Guaranteed Unsecured Notes, due 2029 at 8.375% |  | 681,075 |  |  | 688,107 |  |  | — |  |  | — |
Senior Unsecured Notes, due 2029 at 4.95% |  | 420,873 |  |  | 322,443 |  |  | 420,477 |  |  | 351,726 |
Senior Unsecured Notes, due 2030 at 4.375% |  | 393,623 |  |  | 282,532 |  |  | 393,056 |  |  | 310,524 |
Senior Secured Notes, due 2031 at 8.625% |  | 970,051 |  |  | 1,042,310 |  |  | 968,017 |  |  | 1,047,430 |
Senior Guaranteed Unsecured Notes, due 2032 at 8.875% |  | 481,460 |  |  | 466,370 |  |  | — |  |  | — |
Total financial liabilities |  | $ | 5,547,801 |  |  | $ | 5,260,118 |  |  | $ | 5,520,220 |  |  | $ | 5,307,547 |
(1)Carrying value includes unamortized discounts, premiums and certain debt issuance costs.

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- Definition Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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