v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
ASSETS    
Investment in hotel properties, net $ 4,891,792 $ 5,023,457
Cash and cash equivalents 261,010 184,185
Restricted cash 9,400 12,018
Hotel receivables (net of allowance for doubtful accounts of $246 and $241, respectively) 44,286 34,184
Prepaid expenses and other assets 75,138 94,330
Total assets 5,281,626 5,348,174
LIABILITIES AND EQUITY    
Debt, net 2,080,700 2,124,092
Accounts payable, accrued expenses and other liabilities 221,655 199,631
Lease liabilities - operating leases 335,883 333,068
Deferred revenues 105,901 104,900
Accrued interest 12,978 12,106
Distribution payable 11,107 11,639
Total liabilities 2,768,224 2,785,436
Commitments and contingencies (Note 11)
Shareholders' equity:    
Preferred shares of beneficial interest, $.01 par value (liquidation preference $639,548 and $676,724 at June 30, 2026 and December 31, 2025, respectively), 100,000,000 shares authorized; 25,581,924 and 27,068,962 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 256 271
Common shares of beneficial interest, $.01 par value, 500,000,000 shares authorized; 112,451,844 and 113,188,134 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 1,125 1,132
Additional paid-in capital 3,925,438 3,969,875
Accumulated other comprehensive income (loss) 6,098 605
Distributions and retained deficit (1,514,549) (1,503,262)
Total shareholders' equity 2,418,368 2,468,621
Non-controlling interests 95,034 94,117
Total equity 2,513,402 2,562,738
Total liabilities and equity $ 5,281,626 $ 5,348,174