v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
REVENUE    
Total revenue $ 215,820 $ 219,079
Hotel operating expenses:    
Total hotel operating expenses 135,715 136,033
Property taxes, insurance and other 10,465 10,685
Depreciation and amortization 23,395 25,420
Advisory services fee 6,611 6,700
Corporate general and administrative 2,894 (2,226)
Total operating expenses 179,080 176,612
OPERATING INCOME (LOSS) 36,740 42,467
Equity in earnings (loss) of unconsolidated entity 0 (49)
Interest income 1,888 796
Interest expense and amortization of discounts and loan costs (24,827) (26,491)
Write-off of loan costs and exit fees (1,464) (721)
Realized and unrealized gain (loss) on derivatives (198) 932
INCOME (LOSS) BEFORE INCOME TAXES 12,139 16,934
Income tax (expense) benefit (1,467) (1,452)
NET INCOME (LOSS) 10,672 15,482
(Income) loss attributable to noncontrolling interest in consolidated entities 64 743
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership 262 (296)
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY 10,998 15,929
Preferred dividends (9,269) (10,407)
Deemed dividends on preferred stock (4,276) (1,998)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (2,547) $ 3,524
INCOME (LOSS) PER SHARE - BASIC:    
Net income (loss) attributable to common stockholders (in dollars per share) $ (0.04) $ 0.05
Weighted average common shares outstanding – basic (in shares) 66,744 66,455
INCOME (LOSS) PER SHARE - DILUTED:    
Net income (loss) attributable to common stockholders (in dollars per share) $ (0.04) $ 0.05
Weighted average common shares outstanding – diluted (in shares) 66,744 268,516
Total hotel revenue    
REVENUE    
Total revenue $ 215,820 $ 219,079
Rooms    
REVENUE    
Total revenue 136,092 138,552
Hotel operating expenses:    
Total hotel operating expenses 28,219 28,264
Food and beverage    
REVENUE    
Total revenue 51,788 53,547
Hotel operating expenses:    
Total hotel operating expenses 40,210 40,717
Other hotel    
REVENUE    
Total revenue 27,940 26,980
Hotel operating expenses:    
Total hotel operating expenses 60,376 60,076
Management fees    
Hotel operating expenses:    
Total hotel operating expenses $ 6,910 $ 6,976