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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income (loss) $ 9,871 $ (18,845) $ (77,020)
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation 59,123 53,967 53,627
Amortization of deferred franchise fees 246 248 244
Amortization of deferred financing fees included in interest expense 1,444 1,825 1,275
(Gain) loss on sale of hotel property (2,268) 21 (21,116)
Gain on sale of unconsolidated real estate entities 0 (23,817) 0
Impairment loss 0 5,640 0
Impairment loss on investment in unconsolidated real estate entities 0 0 15,282
Loss on early extinguishment of debt 138 0 0
Deferred tax expense 0 0 29
Share based compensation 5,551 4,823 4,597
Accelerated share based compensation for employee severance 0 0 288
Loss from unconsolidated real estate entities 0 1,231 7,424
Changes in assets and liabilities:      
Right of use asset 688 656 629
Hotel receivables (2,191) (1,314) 2,940
Deferred costs (175) (327) (6)
Prepaid expenses and other assets (764) (526) 292
Accounts payable and accrued expenses 460 5,732 (7,962)
Lease liability (588) (537) (484)
Net cash provided by (used in) operating activities 71,535 28,777 (19,961)
Cash flows from investing activities:      
Improvements and additions to hotel properties (15,663) (9,505) (14,487)
Investment in hotel properties under development (3,299) (23,903) (23,155)
Acquisition of hotel properties, net of cash acquired (31,048) (71,335) 0
Proceeds from sale of hotel properties, net 79,570 0 64,448
Distributions from unconsolidated entities 0 0 0
Proceeds from sale of unconsolidated real estate entities 0 2,800 0
Receipt of deferred key money 400 0 0
Net cash provided by (used in) investing activities 29,960 (101,943) 26,806
Cash flows from financing activities:      
Borrowings on revolving credit facility 40,000 90,000 86,000
Repayments on revolving credit facility (110,000) (155,300) (40,700)
Borrowings on construction loan 4,324 21,682 13,325
Payments on mortgage debt (9,000) (21,190) (35,744)
Payments of financing costs (3,388) (736) (2,351)
Proceeds from issuance of common shares 57 24,612 182
Proceeds from issuance of preferred shares 0 120,000 0
Distributions - common shares/units (147) (282) (16,237)
Distributions - preferred shares (7,950) (2,319) 0
Net cash (used in) provided by financing activities (86,211) 71,582 4,426
Net change in cash, cash equivalents and restricted cash 15,284 (1,584) 11,271
Cash, cash equivalents and restricted cash, beginning of period 29,869 31,453 20,182
Cash, cash equivalents and restricted cash, end of period 45,153 29,869 31,453
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of amounts capitalized 25,298 25,931 28,119
Capitalized interest 330 3,551 1,473
Cash paid for taxes 768 387 328
Common Shares      
Cash flows from financing activities:      
Payment of offering costs on common shares (107) (822) (49)
Preferred Shares      
Cash flows from financing activities:      
Payment of offering costs on common shares $ 0 $ (4,063) $ 0