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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
REVENUE      
Total revenue $ 739,343 $ 669,585 $ 427,542
Hotel operating expenses:      
Total hotel operating expenses 501,157 445,487 287,026
Property taxes, insurance and other 38,629 30,766 34,997
Depreciation and amortization 93,272 78,122 73,762
Advisory services fee 31,089 28,847 22,641
(Gain) loss on legal settlements 0 (114) (917)
Transaction costs 0 0 563
Corporate general and administrative 13,523 18,084 8,717
Total operating expenses 677,670 601,192 426,789
Gain (loss) on insurance settlement and disposition of assets 0 0 696
OPERATING INCOME (LOSS) 61,673 68,393 1,449
Equity in earnings (loss) of unconsolidated entity (253) (328) (252)
Interest income 6,401 2,677 48
Other income (expense) 293 0 0
Interest expense and amortization of discounts and loan costs (94,219) (52,166) (30,901)
Write-off of loan costs and exit fees (3,489) (146) (1,963)
Gain (loss) on extinguishment of debt 2,318 0 0
Realized and unrealized gain (loss) on derivatives (663) 4,961 32
INCOME (LOSS) BEFORE INCOME TAXES (27,939) 23,391 (31,587)
Income tax (expense) benefit (2,689) (4,043) (1,324)
NET INCOME (LOSS) (30,628) 19,348 (32,911)
(Income) loss attributable to noncontrolling interest in consolidated entities (1,619) (2,063) 2,650
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership 5,230 476 3,597
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY (27,017) 17,761 (26,664)
Preferred dividends (42,304) (21,503) (8,745)
Deemed dividends on preferred stock (4,719) (6,954) 0
Gain (loss) on extinguishment of preferred stock 0 0 (4,595)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (74,040) $ (10,696) $ (40,004)
INCOME (LOSS) PER SHARE - BASIC:      
Net income (loss) attributable to common stockholders (in dollars per share) $ (1.13) $ (0.15) $ (0.76)
Weighted average common shares outstanding – basic (in shares) 65,989 69,687 52,684
INCOME (LOSS) PER SHARE - DILUTED:      
Net income (loss) attributable to common stockholders (in dollars per share) $ (1.13) $ (0.15) $ (0.76)
Weighted average common shares outstanding – diluted (in shares) 65,989 69,687 52,684
Total hotel revenue      
REVENUE      
Total revenue $ 739,343 $ 669,585 $ 427,542
Rooms      
REVENUE      
Total revenue 464,899 431,515 280,568
Hotel operating expenses:      
Total hotel operating expenses 105,439 94,410 59,818
Food and beverage      
REVENUE      
Total revenue 185,331 159,241 90,299
Hotel operating expenses:      
Total hotel operating expenses 144,544 125,555 75,177
Other hotel      
REVENUE      
Total revenue 89,113 78,829 56,675
Hotel operating expenses:      
Total hotel operating expenses 227,913 205,373 138,914
Management fees      
Hotel operating expenses:      
Total hotel operating expenses $ 23,261 $ 20,149 $ 13,117