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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
REVENUE      
Total revenue $ 669,585 $ 427,542 $ 226,974
Hotel operating expenses:      
Total hotel operating expenses 445,487 287,026 189,977
Property taxes, insurance and other 30,766 34,997 28,483
Depreciation and amortization 78,122 73,762 73,371
Advisory services fee 28,847 22,641 18,486
(Gain) loss on legal settlements (114) (917) 0
Transaction costs 0 563 0
Corporate general and administrative 18,084 8,717 6,657
Total expenses 601,192 426,789 316,974
Gain (loss) on insurance settlement and disposition of assets 0 696 10,149
OPERATING INCOME (LOSS) 68,393 1,449 (79,851)
Equity in earnings (loss) of unconsolidated entity (328) (252) (217)
Interest income 2,677 48 176
Other income (expense) 0 0 (5,126)
Interest expense and amortization of discounts and loan costs (52,166) (30,901) (45,104)
Write-off of loan costs and exit fees (146) (1,963) (3,920)
Realized and unrealized gain (loss) on derivatives 4,961 32 4,959
INCOME (LOSS) BEFORE INCOME TAXES 23,391 (31,587) (129,083)
Income tax (expense) benefit (4,043) (1,324) 4,406
NET INCOME (LOSS) 19,348 (32,911) (124,677)
(Income) loss attributable to noncontrolling interest in consolidated entities (2,063) 2,650 6,436
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership 476 3,597 12,979
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY 17,761 (26,664) (105,262)
Preferred dividends (21,503) (8,745) (10,219)
Deemed dividends on preferred stock (6,954) 0 0
Gain (loss) on extinguishment of preferred stock 0 (4,595) 0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (10,696) $ (40,004) $ (115,481)
INCOME (LOSS) PER SHARE - BASIC:      
Net income (loss) attributable to common stockholders (in dollars per share) $ (0.15) $ (0.76) $ (3.39)
Weighted average common shares outstanding – basic (in shares) 69,687 52,684 33,998
INCOME (LOSS) PER SHARE - DILUTED:      
Net income (loss) attributable to common stockholders (in dollars per share) $ (0.15) $ (0.76) $ (3.39)
Weighted average common shares outstanding – diluted (in shares) 69,687 52,684 33,998
Total hotel revenue      
REVENUE      
Total revenue $ 669,585 $ 427,542 $ 226,974
Rooms      
REVENUE      
Total revenue 431,515 280,568 136,265
Hotel operating expenses:      
Total hotel operating expenses 94,410 59,818 38,054
Food and beverage      
REVENUE      
Total revenue 159,241 90,299 50,263
Hotel operating expenses:      
Total hotel operating expenses 125,555 75,177 46,246
Other hotel      
REVENUE      
Total revenue 78,829 56,675 40,446
Hotel operating expenses:      
Total hotel operating expenses 205,373 138,914 98,467
Management fees      
Hotel operating expenses:      
Total hotel operating expenses $ 20,149 $ 13,117 $ 7,210