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Note 15 - Segment Information (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Notes Tables |
Schedule of Segment Reporting Information, by Segment [Table Text Block] |
|  | For the three months ended |  |  | For the nine months ended |
|  | September 30, |  |  | September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Room |  | $ | 71,923 |  |  | $ | 80,236 |  |  | $ | 207,737 |  |  | $ | 221,762 |
Food and beverage |  |  | 1,561 |  |  |  | 1,832 |  |  |  | 5,083 |  |  |  | 5,806 |
Other |  |  | 4,649 |  |  |  | 4,826 |  |  |  | 13,715 |  |  |  | 13,695 |
Total hotel property level revenue (1) |  |  | 78,133 |  |  |  | 86,894 |  |  |  | 226,535 |  |  |  | 241,263 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Room |  |  | 15,469 |  |  |  | 17,011 |  |  |  | 45,255 |  |  |  | 49,110 |
Food and beverage |  |  | 1,368 |  |  |  | 1,592 |  |  |  | 4,192 |  |  |  | 4,683 |
Telephone |  |  | 292 |  |  |  | 343 |  |  |  | 884 |  |  |  | 991 |
Other hotel operating |  |  | 1,171 |  |  |  | 1,188 |  |  |  | 3,353 |  |  |  | 3,031 |
General and administrative |  |  | 6,667 |  |  |  | 7,506 |  |  |  | 20,703 |  |  |  | 21,903 |
Franchise and marketing fees |  |  | 6,349 |  |  |  | 6,990 |  |  |  | 18,215 |  |  |  | 19,415 |
Advertising and promotions |  |  | 1,923 |  |  |  | 1,677 |  |  |  | 5,185 |  |  |  | 4,604 |
Utilities |  |  | 3,597 |  |  |  | 3,946 |  |  |  | 9,561 |  |  |  | 10,061 |
Repairs and maintenance |  |  | 3,797 |  |  |  | 4,178 |  |  |  | 11,463 |  |  |  | 12,235 |
Management fees paid to related parties |  |  | 2,600 |  |  |  | 2,959 |  |  |  | 7,575 |  |  |  | 8,118 |
Insurance |  |  | 813 |  |  |  | 851 |  |  |  | 2,459 |  |  |  | 2,504 |
Property taxes, ground rent and insurance |  |  | 5,328 |  |  |  | 6,453 |  |  |  | 17,205 |  |  |  | 17,728 |
Total hotel property level expenses |  |  | 49,374 |  |  |  | 54,694 |  |  |  | 146,050 |  |  |  | 154,383 |
Adjusted Hotel EBITDA |  | $ | 28,759 |  |  | $ | 32,200 |  |  | $ | 80,485 |  |  | $ | 86,880 |
Reconciliation of Adjusted Hotel EBITDA to Net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, including amortization of deferred fees |  |  | (6,243 | ) |  |  | (8,262 | ) |  |  | (19,508 | ) |  |  | (23,292 | )
Depreciation and amortization |  |  | (14,707 | ) |  |  | (15,287 | ) |  |  | (45,133 | ) |  |  | (45,455 | )
Corporate general and administrative |  |  | (4,142 | ) |  |  | (4,395 | ) |  |  | (12,741 | ) |  |  | (13,623 | )
Other charges |  |  | (16 | ) |  |  | - |  |  |  | (24 | ) |  |  | (77 | )
Loss on early extinguishment of debt |  |  | (174 | ) |  |  | - |  |  |  | (174 | ) |  |  | (17 | )
Interest and other income |  |  | 71 |  |  |  | 97 |  |  |  | 192 |  |  |  | 1,627 |
Gain (loss) on sale of hotel properties |  |  | 39 |  |  |  | (14 | ) |  |  | 7,507 |  |  |  | (154 | )
Net income |  | $ | 3,587 |  |  | $ | 4,339 |  |  | $ | 10,604 |  |  | $ | 5,889 |

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