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Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables include revenues, significant hotel operating expenses, and Hotel Adjusted EBITDA for the Company’s hotels, reconciled to the consolidated amounts included in the Company’s consolidated statements of operations (in thousands):

			Year Ended December 31,
			2024						2023						2022
REVENUE
Rooms			$	452,361					$	464,899					$	431,515
Food and beverage			181,250						185,331						159,241
Other hotel revenue			94,793						89,112						78,829
Total hotel revenue			$	728,404					$	739,342					$	669,585
EXPENSES
Rooms			$	106,465					$	105,439					$	94,410
Food and beverage			145,901						144,544						125,555
Direct expenses			32,824						31,887						28,842
Indirect expenses:
Property, general and administration			62,214						59,714						53,412
Sales and marketing			49,331						48,998						40,078
Information and telecommunications systems			8,331						8,159						6,521
Repairs and maintenance			30,732						29,587						25,509
Energy			23,696						24,603						22,205
Lease expense			4,052						6,283						6,190
Ownership expenses			3,765						3,912						3,575
Incentive management fee			8,037						9,935						12,466
Management fees			22,837						22,839						19,950
Property taxes			23,745						21,343						19,236
Other taxes			1,571						1,171						677
Insurance			16,766						14,489						10,454
			540,267						532,903						469,080
Hotel adjusted EBITDA			$	188,137					$	206,439					$	200,505
Reconciliation of hotel operating income (loss) to net income (loss)
			Year Ended December 31,
			2024						2023						2022
Hotel adjusted EBITDA			$	188,137					$	206,439					$	200,505
Ownership expenses included in other hotel expenses			(2,882)						(4,834)						(6,575)
Ownership expenses included in property taxes, insurance and other			(426)						(1,626)						(399)
Management fees			(663)						(422)						(199)
Depreciation and amortization			(98,733)						(93,272)						(78,122)
Advisory services fee			(30,487)						(31,089)						(28,847)
Gain (loss) on legal settlements			—						—						114
Corporate, general and administrative			(14,361)						(13,523)						(18,084)
Gain (loss) on disposition of assets and hotel properties			88,165						—						—
Equity in earnings (loss) of unconsolidated entities			(1,608)						(253)						(328)
Interest income			7,135						6,401						2,677
Other income (expense)			—						293						—
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						—
Realized and unrealized gain (loss) on derivatives			585						(663)						4,961
Income tax (expense) benefit			(842)						(2,689)						(4,043)
Net income (loss)			$	19,763					$	(30,628)					$	19,348

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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