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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
REVENUE      
Total revenue $ 728,404 $ 739,343 $ 669,585
Hotel operating expenses:      
Total hotel operating expenses 501,730 501,157 445,487
Property taxes, insurance and other 42,508 38,629 30,766
Depreciation and amortization 98,733 93,272 78,122
Advisory services fee 30,487 31,089 28,847
(Gain) loss on legal settlements 0 0 (114)
Corporate general and administrative 14,361 13,523 18,084
Total operating expenses 687,819 677,670 601,192
Gain (loss) on disposition of assets and hotel property 88,165 0 0
OPERATING INCOME (LOSS) 128,750 61,673 68,393
Equity in earnings (loss) of unconsolidated entity (1,608) (253) (328)
Interest income 7,135 6,401 2,677
Other income (expense) 0 293 0
Interest expense and amortization of discounts and loan costs (108,124) (94,219) (52,166)
Write-off of loan costs and exit fees (6,111) (3,489) (146)
Gain (loss) on extinguishment of debt (22) 2,318 0
Realized and unrealized gain (loss) on derivatives 585 (663) 4,961
INCOME (LOSS) BEFORE INCOME TAXES 20,605 (27,939) 23,391
Income tax (expense) benefit (842) (2,689) (4,043)
NET INCOME (LOSS) 19,763 (30,628) 19,348
(Income) loss attributable to noncontrolling interest in consolidated entities (25,928) (1,619) (2,063)
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership 4,472 5,230 476
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY (1,693) (27,017) 17,761
Preferred dividends (40,295) (42,304) (21,503)
Deemed dividends on preferred stock (8,958) (4,719) (6,954)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (50,946) $ (74,040) $ (10,696)
INCOME (LOSS) PER SHARE - BASIC:      
Net income (loss) attributable to common stockholders (in dollars per share) $ (0.77) $ (1.13) $ (0.15)
Weighted average common shares outstanding – basic (in shares) 66,500 65,989 69,687
INCOME (LOSS) PER SHARE - DILUTED:      
Net income (loss) attributable to common stockholders (in dollars per share) $ (0.77) $ (1.13) $ (0.15)
Weighted average common shares outstanding – diluted (in shares) 66,500 65,989 69,687
Total hotel revenue      
REVENUE      
Total revenue $ 728,404 $ 739,343 $ 669,585
Rooms      
REVENUE      
Total revenue 452,361 464,899 431,515
Hotel operating expenses:      
Total hotel operating expenses 106,465 105,439 94,410
Food and beverage      
REVENUE      
Total revenue 181,250 185,331 159,241
Hotel operating expenses:      
Total hotel operating expenses 145,901 144,544 125,555
Other hotel      
REVENUE      
Total revenue 94,793 89,113 78,829
Hotel operating expenses:      
Total hotel operating expenses 225,864 227,913 205,373
Management fees      
Hotel operating expenses:      
Total hotel operating expenses $ 23,500 $ 23,261 $ 20,149