Acquisition and Disposition of Hotel Properties |
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| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Acquisition and Disposition of Hotel Properties | Acquisition and Disposition of Hotel Properties Acquisitions The Company did not acquire any hotel properties during the six months ended June 30, 2026 or 2025. Dispositions The following table summarizes disposition transactions during 2026 and 2025 (in thousands):
The Company received $26.1 million of the sales price of the Chamberlain West Hollywood Hotel in the form of 1,347,614 preferred shares and received $4.0 million of the sales price of the Montrose at Beverly Hills in the form of 208,447 preferred shares. For the three and six months ended June 30, 2026, the accompanying consolidated statements of operations and comprehensive income included operating income of $0.4 million and $0.8 million, respectively, excluding impairment loss and gain on sale of hotel properties related to the hotel properties sold. For the three and six months ended June 30, 2025, the accompanying consolidated statements of operations and comprehensive income included operating income (loss) of $3.4 million and $(2.3) million, respectively, excluding impairment loss and gain on sale of hotel properties related to the hotel properties sold. The sales of the hotel properties described above did not represent a strategic shift that had a major effect on the Company's operations and financial results, and therefore, did not qualify as discontinued operations.
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