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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues:      
Hotel operating revenues $ 1,413,403 $ 1,496,705 $ 1,478,034
Rental income 401,435 400,223 395,829
Total revenues 1,814,838 1,896,928 1,873,863
Expenses:      
Hotel operating expenses 1,226,542 1,274,153 1,223,906
Net lease operating expenses 21,597 19,817 17,663
Depreciation and amortization 314,963 371,786 384,060
General and administrative 40,667 40,239 45,397
Transaction related costs 14,698 6,894 (1,623)
Loss on asset impairment 81,889 56,212 9,544
Total expenses 1,700,356 1,769,101 1,678,947
Gain on sale of real estate, net 84,218 6,269 43,239
Gain on equity securities 0 0 48,837
Interest income 8,998 4,052 20,979
Interest expense (including amortization of debt issuance costs, discounts and premiums of $46,337, $31,127 and $25,710, respectively) (413,614) (383,792) (336,342)
Loss on early extinguishment of debt, net (2,897) (16,181) (1,524)
Loss before income tax benefit (expense) and equity in losses of an investee (208,813) (261,825) (29,895)
Income tax benefit (expense) 10,717 (1,402) 1,498
Equity in losses of an investee (4,225) (12,299) (4,382)
Net loss (202,321) (275,526) (32,779)
Other comprehensive income (loss):      
Equity interest in investee’s unrealized gains (losses) 203 (453) (65)
Other comprehensive income (loss) 203 (453) (65)
Comprehensive loss $ (202,118) $ (275,979) $ (32,844)
Weighted average common shares outstanding (basic) (in shares) 165,951 165,338 164,988
Weighted average common shares outstanding (diluted) (in shares) 165,951 165,338 164,988
Net loss per common share (basic) (in dollars per share) $ (1.22) $ (1.67) $ (0.20)
Net loss per common share (diluted) (in dollars per share) $ (1.22) $ (1.67) $ (0.20)