v3.25.1
Segment Reporting (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following tables include revenues, significant hotel operating expenses, and Hotel Adjusted EBITDA for the Company’s hotels, reconciled to the consolidated amounts included in the Company’s condensed consolidated statements of operations (in thousands):
Three Months Ended March 31,
20252024
REVENUE
Rooms$136,092 $138,552 
Food and beverage51,788 53,547 
Other hotel revenue27,940 26,980 
Total hotel revenue$215,820 $219,079 
EXPENSES
Rooms$28,219 $28,264 
Food and beverage40,210 40,717 
Direct expenses9,459 9,769 
Indirect expenses:
Property, general and administration15,398 16,603 
Sales and marketing13,173 13,381 
Information and telecommunications systems2,075 2,048 
Repairs and maintenance7,772 7,662 
Energy5,859 5,965 
Lease expense554 1,173 
Ownership expenses982 1,176 
Incentive management fee4,229 3,850 
Management fees6,737 6,866 
Property taxes5,951 5,710 
Other taxes468 513 
Insurance3,993 4,403 
Total expenses
145,079 148,100 
Hotel adjusted EBITDA
$70,741 $70,979 
Three Months Ended March 31,
20252024
Hotel adjusted EBITDA$70,741 $70,979 
Ownership expenses included in other hotel expenses(875)1,551 
Ownership expenses included in property taxes, insurance and other(53)(59)
Management fees(173)(110)
Depreciation and amortization(23,395)(25,420)
Advisory services fee(6,611)(6,700)
Corporate, general and administrative(2,894)2,226 
Equity in earnings (loss) of unconsolidated entities— (49)
Interest income1,888 796 
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 tax (expense) benefit(1,467)(1,452)
Net income (loss)$10,672 $15,482