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Note 15 - Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2025
Notes Tables |
Schedule of Segment Reporting Information, by Segment [Table Text Block] |
|  | For the three months ended |  |  | For the six months ended |
|  | June 30, |  |  | June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Room |  | $ | 73,396 |  |  | $ | 79,044 |  |  | $ | 135,814 |  |  | $ | 141,526 |
Food and beverage |  |  | 1,864 |  |  |  | 2,127 |  |  |  | 3,523 |  |  |  | 3,973 |
Other |  |  | 4,785 |  |  |  | 5,033 |  |  |  | 9,066 |  |  |  | 8,868 |
Total hotel property level revenue (1) |  |  | 80,045 |  |  |  | 86,204 |  |  |  | 148,403 |  |  |  | 154,367 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Room |  |  | 14,957 |  |  |  | 16,966 |  |  |  | 29,786 |  |  |  | 32,099 |
Food and beverage |  |  | 1,386 |  |  |  | 1,608 |  |  |  | 2,823 |  |  |  | 3,091 |
Telephone |  |  | 281 |  |  |  | 328 |  |  |  | 592 |  |  |  | 647 |
Other hotel operating |  |  | 1,157 |  |  |  | 1,025 |  |  |  | 2,183 |  |  |  | 1,844 |
General and administrative |  |  | 7,125 |  |  |  | 7,231 |  |  |  | 14,036 |  |  |  | 14,396 |
Franchise and marketing fees |  |  | 6,435 |  |  |  | 6,936 |  |  |  | 11,866 |  |  |  | 12,425 |
Advertising and promotions |  |  | 1,655 |  |  |  | 1,585 |  |  |  | 3,262 |  |  |  | 2,927 |
Utilities |  |  | 2,811 |  |  |  | 3,106 |  |  |  | 5,964 |  |  |  | 6,115 |
Repairs and maintenance |  |  | 3,708 |  |  |  | 4,103 |  |  |  | 7,666 |  |  |  | 8,057 |
Management fees paid to related parties |  |  | 2,685 |  |  |  | 2,850 |  |  |  | 4,975 |  |  |  | 5,159 |
Insurance |  |  | 820 |  |  |  | 833 |  |  |  | 1,647 |  |  |  | 1,653 |
Property taxes, ground rent and insurance |  |  | 6,134 |  |  |  | 5,981 |  |  |  | 11,877 |  |  |  | 11,275 |
Total hotel property level expenses |  |  | 49,154 |  |  |  | 52,552 |  |  |  | 96,677 |  |  |  | 99,688 |
Adjusted Hotel EBITDA |  | $ | 30,891 |  |  | $ | 33,652 |  |  | $ | 51,726 |  |  | $ | 54,679 |
Reconciliation of Adjusted Hotel EBITDA to net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, including amortization of deferred fees |  |  | (6,414 | ) |  |  | (7,723 | ) |  |  | (13,266 | ) |  |  | (15,030 | )
Depreciation and amortization |  |  | (15,395 | ) |  |  | (14,914 | ) |  |  | (30,426 | ) |  |  | (30,169 | )
Corporate general and administrative |  |  | (3,992 | ) |  |  | (4,633 | ) |  |  | (8,599 | ) |  |  | (9,227 | )
Other charges |  |  | - |  |  |  | (27 | ) |  |  | (7 | ) |  |  | (77 | )
Loss on early extinguishment of debt |  |  | - |  |  |  | (17 | ) |  |  | - |  |  |  | (17 | )
Interest and other income |  |  | 59 |  |  |  | 684 |  |  |  | 121 |  |  |  | 1,529 |
Gain (loss) on sale of hotel properties |  |  | 350 |  |  |  | 12 |  |  |  | 7,468 |  |  |  | (140 | )
Net income |  | $ | 5,499 |  |  | $ | 7,034 |  |  | $ | 7,017 |  |  | $ | 1,548 |

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