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Note 14 - Related Party Transactions | 12 Months Ended
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Dec. 31, 2025
Notes to Financial Statements |
Related Party Transactions Disclosure [Text Block] |
14. | Related Party Transactions
As of December 31, 2025, Mr. Fisher owns 100% of IHM. As of December 31, 2025, the Company had hotel management agreements with IHM to manage all 33 of its hotels. Hotel management, revenue management and accounting fees accrued or paid to IHM for the hotels owned by the Company for the years ended December 31, 2025, 2024 and 2023 were $9.9 million, $10.7 million and $10.6 million, respectively. At December 31, 2025 and 2024, the amounts due to IHM were $0.2 million and $0.5 million, respectively. Incentive management fees paid to IHM by the Company for the years ended December 31, 2025, 2024 and 2023 were $0.1 million, $0.2 million and $0.2 million, respectively. Cost reimbursements from related parties revenue represent reimbursements of costs incurred on behalf of IHM. These costs relate primarily to office expenses shared with IHM. Various shared office expenses and rent are paid by the Company and allocated to IHM based on the amount of square footage occupied by each entity. As the Company records cost reimbursements based upon costs incurred with no added markup, the revenue and related expense has no impact on the Company’s operating income or net income. Cost reimbursements are recorded based upon the occurrence of a reimbursed activity.

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