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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUE        
Total revenue $ 187,587 $ 186,707 $ 406,666 $ 402,008
Hotel operating expenses:        
Total hotel operating expenses 128,363 125,247 264,396 261,344
Property taxes, insurance and other 10,058 9,396 20,755 17,512
Depreciation and amortization 24,694 22,567 50,114 45,088
Advisory services fee 7,828 8,215 14,528 16,163
Corporate general and administrative 4,469 3,896 2,231 6,716
Total operating expenses 175,412 169,321 352,024 346,823
OPERATING INCOME (LOSS) 12,175 17,386 54,642 55,185
Equity in earnings (loss) of unconsolidated entity (85) (75) (134) (148)
Interest income 1,072 2,295 1,868 4,403
Interest expense and amortization of discounts and loan costs (27,285) (23,600) (53,776) (46,473)
Write-off of loan costs and exit fees (82) (248) (803) (260)
Gain (loss) on extinguishment of debt (22) 0 (22) 2,318
Realized and unrealized gain (loss) on derivatives 326 1,029 1,258 695
INCOME (LOSS) BEFORE INCOME TAXES (13,901) (3,213) 3,033 15,720
Income tax (expense) benefit 114 75 (1,338) (2,254)
NET INCOME (LOSS) (13,787) (3,138) 1,695 13,466
(Income) loss attributable to noncontrolling interest in consolidated entities 303 367 1,046 58
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership 1,919 925 1,623 664
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY (11,565) (1,846) 4,364 14,188
Preferred dividends (10,329) (10,877) (20,736) (21,227)
Deemed dividends on preferred stock (26) (301) (2,024) (2,755)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (21,920) $ (13,024) $ (18,396) $ (9,794)
INCOME (LOSS) PER SHARE - BASIC:        
Net income (loss) attributable to common stockholders (in dollars per share) $ (0.33) $ (0.20) $ (0.28) $ (0.14)
Weighted average common shares outstanding – basic (in shares) 66,501 65,806 66,478 68,378
INCOME (LOSS) PER SHARE - DILUTED:        
Net income (loss) attributable to common stockholders (in dollars per share) $ (0.33) $ (0.20) $ (0.28) $ (0.14)
Weighted average common shares outstanding – diluted (in shares) 66,501 65,806 66,478 68,378
Total hotel revenue        
REVENUE        
Total revenue $ 187,587 $ 186,707 $ 406,666 $ 402,008
Rooms        
REVENUE        
Total revenue 116,227 117,137 254,779 254,664
Hotel operating expenses:        
Total hotel operating expenses 27,476 26,705 55,740 54,063
Food and beverage        
REVENUE        
Total revenue 47,563 47,776 101,110 100,004
Hotel operating expenses:        
Total hotel operating expenses 36,664 36,365 77,381 76,104
Other hotel        
REVENUE        
Total revenue 23,797 21,794 50,777 47,340
Hotel operating expenses:        
Total hotel operating expenses 58,155 56,297 118,231 118,592
Management fees        
Hotel operating expenses:        
Total hotel operating expenses $ 6,068 $ 5,880 $ 13,044 $ 12,585