v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 5,255 $ 13,035
Adjustments to reconcile net income to net cash provided by operating activities:    
Bad debt expense 76 80
Gain on sale of assets, net   (457)
(Gain) loss on extinguishment of debt, net   (21)
Noncash interest on derivatives, net 982 (2,042)
Depreciation 31,894 28,782
Amortization of franchise fees and other intangibles 381 258
Amortization of Debt Issuance Costs 863 739
Amortization of deferred stock compensation 2,064 2,770
Gain on insurance recoveries (99)  
Changes in operating assets and liabilities:    
Accounts receivable (16,312) (5,568)
Prepaid expenses and other assets (7,633) (6,400)
Increase (Decrease) in Accounts Payable and Other Operating Liabilities 14,701 7,319
Operating lease right-of-use assets and obligations (141) (11)
Net cash provided by operating activities 32,031 38,484
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from Insurance Settlement, Investing Activities 73  
Renovations and additions to hotel properties and other assets (28,189) (27,664)
Net cash used in investing activities (28,116) (27,664)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repurchases of outstanding common stock (8,016)  
Repurchases of common stock for employee tax obligations (4,278) (3,217)
Payments on notes payable   (537)
Dividends and distributions paid (23,104) (29,769)
Net cash used in financing activities (35,398) (33,523)
Net decrease in cash and cash equivalents and restricted cash (31,483) (22,703)
Cash and cash equivalents and restricted cash, beginning of period 180,277 493,698
Cash and cash equivalents and restricted cash, end of period 148,794 470,995
Supplemental Disclosure of Cash Flow Information    
Cash and Cash Equivalents, at Carrying Value 72,334 400,678
Restricted cash 76,460 70,317
Total cash and cash equivalents and restricted cash shown on the consolidated statements of cash flows 148,794 470,995
Cash paid for interest, net of capitalized interest 13,004 15,306
Cash paid for income taxes, net (145) 3,137
Operating Lease, Payments 1,505 1,360
Changes in operating lease right-of-use assets 1,203 1,136
Changes in operating lease obligations (1,344) (1,147)
Changes in operating lease right-of-use assets and lease obligations, net (141) (11)
Supplemental Disclosure of Noncash Investing and Financing Activities    
Capital Expenditures Incurred but Not yet Paid 19,642 14,512
Operating lease right-of-use asset obtained in exchange for operating lease obligation 521  
Amortization of deferred stock compensation - construction activities 172 117
Dividends and distributions payable $ 22,742 $ 18,243