v3.26.1
Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Total revenues $ 407,142 $ 407,537 $ 752,798 $ 727,803
Hotel operating expenses:        
Total hotel operating expenses 252,537 253,786 484,625 481,000
Depreciation and amortization 52,099 57,645 104,078 115,188
Real estate taxes, personal property taxes, property insurance and ground rent 32,248 33,978 65,039 67,251
General and administrative 11,898 12,504 23,939 25,730
Impairment 1,112 0 8,800 0
Business interruption insurance income 0 (3,242) 0 (7,545)
Other operating expenses 7 478 1,025 1,028
Total operating expenses 349,901 355,149 687,506 682,652
Operating income (loss) 57,241 52,388 65,292 45,151
Interest expense (26,056) (27,282) (52,370) (54,415)
Other, net 1,444 1,991 1,254 1,019
Income (loss) before income taxes 32,629 27,097 14,176 (8,245)
Income tax (expense) benefit (7,716) (7,812) (7,699) (4,650)
Net income (loss) 24,913 19,285 6,477 (12,895)
Net income (loss) attributable to non-controlling interests 1,334 1,229 2,172 1,996
Net income (loss) attributable to the Company 23,579 18,056 4,305 (14,891)
Distributions to preferred shareholders (9,919) (10,632) (20,346) (21,263)
Repurchase of preferred shares 6,999 0 6,999 0
Net income (loss) attributable to common shareholders $ 20,659 $ 7,424 $ (9,042) $ (36,154)
Net income (loss) per share available to common shareholders, basic (in usd per share) $ 0.18 $ 0.06 $ (0.08) $ (0.30)
Net income (loss) per share available to common shareholders, diluted (in usd per share) $ 0.17 $ 0.06 $ (0.08) $ (0.30)
Weighted-average number of common shares, basic (in shares) 112,741,241 118,172,417 113,034,743 118,685,483
Weighted-average number of common shares, diluted (in shares) 127,105,098 118,383,446 113,034,743 118,685,483
Room        
Revenues:        
Total revenues $ 259,713 $ 257,600 $ 474,238 $ 454,610
Hotel operating expenses:        
Total hotel operating expenses 64,836 67,732 124,351 126,255
Food and beverage        
Revenues:        
Total revenues 102,574 105,994 193,717 192,304
Hotel operating expenses:        
Total hotel operating expenses 72,386 72,658 137,845 137,226
Other operating        
Revenues:        
Total revenues 44,855 43,943 84,843 80,889
Hotel operating expenses:        
Total hotel operating expenses $ 115,315 $ 113,396 $ 222,429 $ 217,519