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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
REVENUE        
Total revenue $ 148,398 $ 159,801 $ 555,064 $ 561,809
Hotel operating expenses:        
Total hotel operating expenses 113,715 116,450 378,111 377,794
Property taxes, insurance and other 9,985 10,471 30,740 27,983
Depreciation and amortization 25,078 22,703 75,192 67,791
Advisory services fee 8,627 7,020 23,155 23,183
Corporate general and administrative 8,874 2,506 11,105 9,222
Total operating expenses 166,279 159,150 518,303 505,973
Gain (loss) on disposition of assets and hotel property 88,210 0 88,210 0
OPERATING INCOME (LOSS) 70,329 651 124,971 55,836
Equity in earnings (loss) of unconsolidated entity (80) (60) (214) (208)
Interest income 2,660 986 4,528 5,389
Other income (expense) 0 293 0 293
Interest expense and amortization of discounts and loan costs (27,911) (23,306) (81,687) (69,779)
Write-off of loan costs and exit fees (5,292) (2,588) (6,095) (2,848)
Gain (loss) on extinguishment of debt 0 0 (22) 2,318
Realized and unrealized gain (loss) on derivatives (735) 223 523 918
INCOME (LOSS) BEFORE INCOME TAXES 38,971 (23,801) 42,004 (8,081)
Income tax (expense) benefit 864 1,190 (474) (1,064)
NET INCOME (LOSS) 39,835 (22,611) 41,530 (9,145)
(Income) loss attributable to noncontrolling interest in consolidated entities (27,363) (1,773) (26,317) (1,715)
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership 124 2,354 1,747 3,018
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY 12,596 (22,030) 16,960 (7,842)
Preferred dividends (9,857) (10,582) (30,593) (31,809)
Deemed dividends on preferred stock (4,151) (516) (6,175) (3,271)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (1,412) $ (33,128) $ (19,808) $ (42,922)
INCOME (LOSS) PER SHARE - BASIC:        
Net income (loss) attributable to common stockholders (in dollars per share) $ (0.02) $ (0.50) $ (0.30) $ (0.63)
Weighted average common shares outstanding – basic (in shares) 66,522 65,825 66,493 68,010
INCOME (LOSS) PER SHARE - DILUTED:        
Net income (loss) attributable to common stockholders (in dollars per share) $ (0.02) $ (0.50) $ (0.30) $ (0.63)
Weighted average common shares outstanding – diluted (in shares) 66,522 65,825 66,493 68,010
Total hotel revenue        
REVENUE        
Total revenue $ 148,398 $ 159,801 $ 555,064 $ 561,809
Rooms        
REVENUE        
Total revenue 92,427 100,738 347,206 355,402
Hotel operating expenses:        
Total hotel operating expenses 25,548 25,899 81,288 79,962
Food and beverage        
REVENUE        
Total revenue 34,781 38,537 135,891 138,541
Hotel operating expenses:        
Total hotel operating expenses 31,998 32,750 109,379 108,854
Other hotel        
REVENUE        
Total revenue 21,190 20,526 71,967 67,866
Hotel operating expenses:        
Total hotel operating expenses 51,300 52,725 169,531 171,317
Management fees        
Hotel operating expenses:        
Total hotel operating expenses $ 4,869 $ 5,076 $ 17,913 $ 17,661