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Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

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 condensed consolidated statements of operations (in thousands):

			Three Months Ended June 30,												Six Months Ended June 30,
			2025						2024						2025						2024
REVENUE
Rooms			$	109,824					$	116,227					$	245,916					$	254,779
Food and beverage			45,571						47,563						97,359						101,110
Other hotel revenue			23,682						23,797						51,622						50,777
Total hotel revenue			$	179,077					$	187,587					$	394,897					$	406,666
EXPENSES
Hotel expenses:
Rooms			$	27,285					$	27,476					$	55,504					$	55,740
Food and beverage			35,767						36,664						75,977						77,381
Direct expenses			8,208						7,970						17,667						17,739
Indirect expenses:
Property, general and administration			15,466						15,644						30,864						32,247
Sales and marketing			12,557						12,624						25,730						26,005
Information and telecommunications systems			1,884						2,072						3,959						4,120
Repairs and maintenance			8,053						7,906						15,825						15,568
Energy			5,892						5,781						11,751						11,745
Lease expense			568						1,483						1,122						2,656
Ownership expenses			1,172						761						2,154						1,937
Incentive management fee			1,221						2,361						5,450						6,211
Management fees			5,424						5,871						12,161						12,737
Property taxes			4,002						5,203						9,953						10,913
Other taxes			299						332						767						845
Insurance			3,486						4,362						7,479						8,765
Total expenses			131,284						136,510						276,363						284,609
Hotel adjusted EBITDA			$	47,793					$	51,077					$	118,534					$	122,057
			Three Months Ended June 30,												Six Months Ended June 30,
			2025						2024						2025						2024
Hotel adjusted EBITDA			$	47,793					$	51,077					$	118,534					$	122,057
Ownership expenses included in other hotel expenses			(1,424)						(1,553)						(2,299)						(3)
Ownership expenses included in property taxes, insurance and other			(105)						(161)						(158)						(232)
Management fees			(117)						(197)						(290)						(307)
Depreciation and amortization			(23,360)						(24,694)						(46,755)						(50,114)
Advisory services fee			(7,191)						(7,828)						(13,802)						(14,528)
Corporate, general and administrative			2,298						(4,469)						(596)						(2,231)
Equity in earnings (loss) of unconsolidated entities			—						(85)						—						(134)
Interest income			1,519						1,072						3,407						1,868
Other income (expense)			(1,250)						—						(1,250)						—
Interest expense and amortization of discounts and loan costs			(25,361)						(27,285)						(50,188)						(53,776)
Write-off of loan costs and exit fees			(3)						(82)						(1,467)						(803)
Gain (loss) on extinguishment of debt			—						(22)						—						(22)
Realized and unrealized gain (loss) on derivatives			15						326						(183)						1,258
Income tax (expense) benefit			345						114						(1,122)						(1,338)
Net income (loss)			$	(6,841)					$	(13,787)					$	3,831					$	1,695

X

- 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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X

- References

No definition available.

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