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Hotel Dispositions (Tables) | 9 Months Ended
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Sep. 30, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Condensed Consolidated Financial Information from Hotel Property | The following table includes the condensed consolidated financial information from the disposed hotel properties (in thousands):
| Three Months Ended September 30, |  |  |  | Nine Months Ended September 30, |  |  |
| 2025 |  | 2024 |  |  |  | 2025 |  | 2024 |  |  |
Total hotel revenue | $ | 6,133 |  |  | $ | 15,932 |  |  |  |  | $ | 23,768 |  |  | $ | 58,454 |  |  |  |
Total hotel operating expenses | (3,148) |  |  | (8,828) |  |  |  |  | (13,673) |  |  | (34,310) |  |  |  |
Property taxes, insurance and other | (247) |  |  | (724) |  |  |  |  | (1,253) |  |  | (3,410) |  |  |  |
Depreciation and amortization | (672) |  |  | (2,791) |  |  |  |  | (4,119) |  |  | (8,430) |  |  |  |
Gain (loss) on disposition of assets and hotel property | 41,043 |  |  | 88,160 |  |  |  |  | 41,043 |  |  | 88,160 |  |  |  |
Operating income (loss) | 43,109 |  |  | 91,749 |  |  |  |  | 45,766 |  |  | 100,464 |  |  |  |
Interest income | — |  |  | 55 |  |  |  |  | — |  |  | 265 |  |  |  |
Interest expense and amortization of loan costs | (645) |  |  | (2,183) |  |  |  |  | (3,879) |  |  | (9,427) |  |  |  |
Write-off of loan costs and exit fees | — |  |  | — |  |  |  |  | (141) |  |  | (104) |  |  |  |
Gain (loss) on extinguishment of debt | (1,553) |  |  | — |  |  |  |  | (1,553) |  |  | — |  |  |  |
Income (loss) before income taxes | 40,911 |  |  | 89,621 |  |  |  |  | 40,193 |  |  | 91,198 |  |  |  |
Income from consolidated entities attributable to noncontrolling interests | — |  |  | (26,296) |  |  |  |  | — |  |  | (28,024) |  |  |  |
(Income) loss before income taxes attributable to redeemable noncontrolling interests in operating partnership | (2,827) |  |  | (5,098) |  |  |  |  | (2,748) |  |  | (5,093) |  |  |  |
Income (loss) before income taxes attributable to the Company | $ | 38,084 |  |  | $ | 58,227 |  |  |  |  | $ | 37,445 |  |  | $ | 58,081 |  |  |  |

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