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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 1,548 $ 4,324
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of investment in hotel properties 30,058 28,821
Amortization of deferred franchise fees 114 117
Amortization of deferred financing fees included in interest expense 645 589
Loss (gain) on sale of hotel properties 140 (55)
Loss on early extinguishment of debt 17 667
Loss on write-off of deferred franchise fee 50 0
Share based compensation 3,259 3,007
Gain from partial lease termination 0 (164)
Changes in assets and liabilities:    
Right of use asset 292 342
Hotel receivables 190 (527)
Deferred costs (166) (380)
Prepaid expenses and other assets (4,426) (6,186)
Accounts payable and accrued expenses 282 2,580
Lease liability 66 (394)
Net cash provided by operating activities 32,069 32,741
Cash flows from investing activities:    
Improvements and additions to hotel properties (18,744) (15,600)
Acquisition of hotel properties (43,730) 0
Proceeds from sale of hotel properties, net 17,166 0
Payments of franchise application costs (700) 0
Net cash used in investing activities (46,008) (15,600)
Cash flows from financing activities:    
Borrowings on revolving credit facility 121,000 0
Repayments on revolving credit facility (1,000) 0
Repayments on construction loan 0 (39,331)
Borrowings on unsecured term loan 50,000 90,000
Repayments of mortgage debt (263,961) (54,221)
Proceeds from the issuance of mortgage debt 60,300 0
Principal payments on finance lease (15) 0
Payment of financing costs (1,026) (3)
Proceeds from issuance of common shares 27 31
Distributions-common shares/units (7,200) (7,096)
Distributions-preferred shares (3,975) (3,975)
Net cash used in financing activities (46,114) (14,595)
Net change in cash, cash equivalents and restricted cash (60,053) 2,546
Cash, cash equivalents and restricted cash, beginning of period 85,749 45,153
Cash, cash equivalents and restricted cash, end of period 25,696 47,699
Supplemental disclosure of cash flow information:    
Cash paid for interest 14,441 11,961
Cash paid for taxes 685 697
Remeasurement of right of use asset from partial lease termination 0 531
Remeasurement of lease liability from partial lease termination 0 695
Common Shares    
Cash flows from financing activities:    
Payment of offering costs on common shares $ (264) $ 0