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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
REVENUE        
Total hotel revenue $ 143,556 $ 148,398 $ 538,453 $ 555,064
Hotel operating expenses:        
Total hotel operating expenses 111,619 113,715 372,372 378,111
Property taxes, insurance and other 8,211 9,985 26,568 30,740
Depreciation and amortization 23,164 25,078 69,919 75,192
Advisory services fee 7,915 8,627 21,717 23,155
Corporate general and administrative 3,811 8,874 4,407 11,105
Total operating expenses 154,720 166,279 494,983 518,303
Gain (loss) on disposition of assets and hotel properties 40,970 88,210 40,970 88,210
OPERATING INCOME (LOSS) 29,806 70,329 84,440 124,971
Equity in earnings (loss) of unconsolidated entity 0 (80) 0 (214)
Interest income 1,494 2,660 4,901 4,528
Other income (expense) 0 0 (1,250) 0
Interest expense and amortization of discounts and loan costs (25,188) (27,911) (75,376) (81,687)
Write-off of loan costs and exit fees (366) (5,292) (1,833) (6,095)
Gain (loss) on extinguishment of debt (1,553) 0 (1,553) (22)
Realized and unrealized gain (loss) on derivatives (118) (735) (301) 523
INCOME (LOSS) BEFORE INCOME TAXES 4,075 38,971 9,028 42,004
Income tax (expense) benefit 648 864 (474) (474)
NET INCOME (LOSS) 4,723 39,835 8,554 41,530
(Income) loss attributable to noncontrolling interest in consolidated entities 412 (27,363) 361 (26,317)
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership 607 124 2,358 1,747
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY 5,742 12,596 11,273 16,960
Preferred dividends (8,667) (9,857) (26,928) (30,593)
Deemed dividends on preferred stock (5,251) (4,151) (11,086) (6,175)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (8,176) $ (1,412) $ (26,741) $ (19,808)
INCOME (LOSS) PER SHARE - BASIC:        
Net income (loss) attributable to common stockholders (in dollars per share) $ (0.12) $ (0.02) $ (0.40) $ (0.30)
Weighted average common shares outstanding – basic (in shares) 68,219 66,522 67,419 66,493
INCOME (LOSS) PER SHARE - DILUTED:        
Net income (loss) attributable to common stockholders (in dollars per share) $ (0.12) $ (0.02) $ (0.40) $ (0.30)
Weighted average common shares outstanding – diluted (in shares) 68,219 66,522 67,419 66,493
Total hotel revenue        
REVENUE        
Total hotel revenue $ 143,556 $ 148,398 $ 538,453 $ 555,064
Rooms        
REVENUE        
Total hotel revenue 85,701 92,427 331,617 347,206
Hotel operating expenses:        
Total hotel operating expenses 24,728 25,548 80,232 81,288
Food and beverage        
REVENUE        
Total hotel revenue 36,637 34,781 133,996 135,891
Hotel operating expenses:        
Total hotel operating expenses 30,685 31,998 106,662 109,379
Other        
REVENUE        
Total hotel revenue 21,218 21,190 72,840 71,967
Hotel operating expenses:        
Total hotel operating expenses 51,766 51,300 168,587 169,531
Management fees        
Hotel operating expenses:        
Total hotel operating expenses $ 4,440 $ 4,869 $ 16,891 $ 17,913