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Segment Information (Tables)

6 Months Ended

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

X

- 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
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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