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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 3,908 $ 7,017
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of investment in hotel properties 30,385 30,326
Amortization of deferred franchise fees 120 101
Amortization of deferred financing fees included in interest expense 920 663
Gain on sale of hotel properties (131) (7,468)
Share-based compensation 3,034 3,164
Changes in assets and liabilities:    
Right of use asset 336 312
Hotel receivables (143) (1,742)
Deferred costs (17) 82
Prepaid expenses and other assets (4,847) (5,040)
Accounts payable and accrued expenses 5,671 (904)
Lease liability (296) (259)
Net cash provided by operating activities 38,940 26,252
Cash flows from investing activities:    
Improvements and additions to hotel properties (13,397) (16,437)
Acquisition of hotel properties (92,458) 0
Proceeds from sale of hotel properties, net 0 52,956
Net cash (used in) provided by investing activities (105,855) 36,519
Cash flows from financing activities:    
Borrowings on revolving credit facility 95,000 15,000
Repayments on revolving credit facility (20,000) (55,000)
Repayments of mortgage debt 0 (15,957)
Principal payments on finance lease (41) (26)
Proceeds from issuance of common shares 26 27
In-substance repurchase of vested common shares 0 (5)
Repurchases of common shares (9,476) (144)
Distributions-common shares/units (9,528) (8,326)
Distributions-preferred shares (3,975) (3,975)
Net cash provided by (used in) financing activities 52,006 (68,406)
Net change in cash, cash equivalents and restricted cash (14,909) (5,635)
Cash, cash equivalents and restricted cash, beginning of period 32,638 29,844
Cash, cash equivalents and restricted cash, end of period 17,729 24,209
Supplemental disclosure of cash flow information:    
Cash paid for interest 11,488 12,419
Capitalized interest 7 0
Cash paid for taxes $ 675 $ 859