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Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table includes revenue, significant hotel operating expenses, and Adjusted Hotel EBITDA for the Company’s hotels, reconciled to the consolidated amounts included in the Company’s consolidated statements of operations (in thousands):

									For the year ended
									December 31,
															2024						2023						2022
Revenue:
Room															$	290,290					$	284,999					$	272,265
Food and beverage															7,737						8,124						7,303
Other															18,077						16,703						13,958
Total hotel property level revenue (1)															316,104						309,826						293,526
Expenses:
Room															65,311						61,794						56,073
Food and beverage															6,218						6,352						5,520
Telephone															1,360						1,439						1,449
Other hotel operating															4,127						3,712						3,488
General and administrative															28,826						28,884						26,086
Franchise and marketing fees															25,355						24,897						23,674
Advertising and promotions															6,229						6,085						5,397
Utilities															13,161						13,007						12,048
Repairs and maintenance															16,516						15,837						14,145
Management fees paid to related parties															10,733						10,557						10,133
Insurance															3,340						2,822						2,746
Property taxes, ground rent and insurance															23,709						23,507						21,210
Total hotel property level expenses															204,885						198,893						181,969
Adjusted Hotel EBITDA															$	111,219					$	110,933					$	111,557
Reconciliation of Adjusted Hotel EBITDA to net income
Interest expense, including amortization of deferred fees															(30,880)						(27,128)						(26,454)
Depreciation and amortization															(60,741)						(58,254)						(59,350)
Corporate general and administrative															(18,388)						(17,517)						(17,339)
Other charges															(327)						(2,300)						(683)
Impairment loss															(4,256)						(4,266)						—
Loss on early extinguishment of debt															(17)						(696)						(138)
Interest and other income															1,712						1,534						10
Gain on sale of hotel properties															5,713						18						2,268
Gain from partial lease termination															—						164						—
Net income															$	4,035					$	2,488					$	9,871

(1) The difference between total hotel property level revenue and total revenue on the consolidated statements of operations is due to reimbursable costs from related parties of $1.1 million, $1.3 million, and $1.3 million for the years ended December 31, 2024, 2023 and 2022, respectively.

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- 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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