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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 4,035 $ 2,488 $ 9,871
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization of investment in hotel properties 60,523 58,040 59,123
Amortization of deferred franchise fees 211 214 246
Amortization of deferred financing fees included in interest expense 1,363 1,201 1,444
Gain on sale of hotel properties (5,713) (18) (2,268)
Impairment loss 4,256 4,266 0
Write-off of hotel development costs included in other charges 0 2,238 0
Loss on early extinguishment of debt 17 672 138
Loss on write-off of deferred franchise fee 50 0 0
Share based compensation 6,398 6,117 5,551
Gain from partial lease termination 0 (164) 0
Changes in assets and liabilities:      
Right of use asset 593 625 688
Hotel receivables 1,324 803 (2,191)
Deferred costs (271) (102) (175)
Prepaid expenses and other assets 942 (382) (764)
Accounts payable and accrued expenses 256 1,048 460
Lease liability (159) (604) (588)
Net cash provided by operating activities 73,825 76,442 71,535
Cash flows from investing activities:      
Improvements and additions to hotel properties (30,603) (28,113) (15,663)
Investment in hotel properties under development 0 0 (3,299)
Acquisition of hotel properties, net (43,734) 0 (31,048)
Proceeds from sale of hotel properties, net 45,868 0 79,570
Payments of franchise application costs (700) 0 0
Receipt of deferred key money 0 0 400
Net cash (used in) provided by investing activities (29,169) (28,113) 29,960
Cash flows from financing activities:      
Borrowings on revolving credit facility 150,000 0 40,000
Repayments on revolving credit facility (40,000) 0 (110,000)
Borrowings on construction loan 0 0 4,324
Repayments on construction loan 0 (39,331) 0
Borrowings on unsecured term loan 50,000 90,000 0
Repayments of mortgage debt (297,227) (117,742) (9,000)
Proceeds from the issuance of mortgage debt 60,300 82,925 0
Principal payments on finance lease (15) 0 0
Payments of financing costs (1,066) (1,482) (3,388)
Proceeds from issuance of common shares 53 61 57
Distributions - common shares/units (14,378) (14,212) (147)
Distributions - preferred shares (7,950) (7,950) (7,950)
Net cash used in financing activities (100,561) (7,733) (86,211)
Net change in cash, cash equivalents and restricted cash (55,905) 40,596 15,284
Cash, cash equivalents and restricted cash, beginning of period 85,749 45,153 29,869
Cash, cash equivalents and restricted cash, end of period 29,844 85,749 45,153
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of amounts capitalized 29,480 24,900 25,298
Capitalized interest 0 0 330
Cash paid for taxes 871 930 768
Remeasurement of right of use asset from partial lease termination 0 531 0
Remeasurement of lease liability from partial lease termination 0 695 0
Common Shares      
Cash flows from financing activities:      
Payment of offering costs on common shares $ (278) $ (2) $ (107)