XML 31 R17.htm IDEA: XBRL DOCUMENT v3.25.4

Note 5 - Investment in Hotel Properties

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Real Estate Disclosure [Text Block]

5. Investment in Hotel Properties

Investment in hotel properties, net

Investment in hotel properties, net as of December 31, 2025 and 2024 consisted of the following (in thousands):

		December 31, 2025				December 31, 2024
Land and improvements		$	268,546			$	280,415
Building and improvements			1,174,132				1,232,438
Furniture, fixtures and equipment			87,528				107,947
Finance lease assets			43,840				43,760
Renovations in progress			11,718				17,232
			1,585,764				1,681,792
Less accumulated depreciation and amortization			(478,874	)			(484,274	)
Investment in hotel properties, net		$	1,106,890			$	1,197,518

There were no impairments recorded during the year ended December 31, 2025. During the year ended December 31, 2024, the Company recorded an impairment loss of $4.3 million on the CY Houston hotel property to write down the value of the hotel property to its estimated fair value which approximated its estimated selling price. The CY Houston hotel property was sold on April 22, 2025. During the year ended December 31, 2023, the Company recorded an impairment loss of $4.3 million on the HGI Denver Tech hotel property to write down the hotel property to estimated fair value which approximated its estimated selling price. The HGI Denver Tech hotel property was sold on January 9, 2024.

On November 26, 2025, the Company entered into an agreement to purchase a portfolio of six hotels for $92.0 million. There can be no assurance that this transaction will ultimately close.

Investment in hotel properties under development

During the year ended December 31, 2023, the Company wrote-off $2.2 million of previous expenditures related to the development of a hotel in California that the Company decided to no longer pursue. The write-off expense is included in other charges in the consolidated statements of operations.

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureTextBlockAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 974
-SubTopic 720
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477728/974-720-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 976
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/976/tableOfContent

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 978
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/978/tableOfContent

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 970
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/970/tableOfContent

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 972
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/972/tableOfContent

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 974
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/974/tableOfContent

+ Details

Name:	us-gaap_RealEstateDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration