v3.25.2
Note 15 - Segment Information - Schedule of Segment Information (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues $ 80,294 $ 86,479 $ 148,929 $ 154,920
Property taxes, ground rent and insurance 6,134 5,981 11,877 11,275
Interest expense, including amortization of deferred fees (6,414) (7,723) (13,266) (15,030)
Depreciation and amortization (15,395) (14,914) (30,426) (30,169)
Other charges 0 (27) (7) (77)
Loss on early extinguishment of debt 0 (17) 0 (17)
Interest and other income 59 684 121 1,529
Gain (loss) on sale of hotel properties 350 12 7,468 (140)
Net income 5,499 7,034 7,017 1,548
Occupancy [Member]        
Revenue 73,396 79,044 135,814 141,526
Food and Beverage [Member]        
Revenue 1,864 2,127 3,523 3,973
Hotel, Other [Member]        
Revenue 4,785 5,033 9,066 8,868
Operating Segments [Member] | Hotel Level [Member]        
Revenues [1] 80,045 86,204 148,403 154,367
Room 14,957 16,966 29,786 32,099
Food and beverage 1,386 1,608 2,823 3,091
Telephone 281 328 592 647
Other hotel operating 1,157 1,025 2,183 1,844
General and administrative 7,125 7,231 14,036 14,396
Franchise and marketing fees 6,435 6,936 11,866 12,425
Advertising and promotions 1,655 1,585 3,262 2,927
Utilities 2,811 3,106 5,964 6,115
Repairs and maintenance 3,708 4,103 7,666 8,057
Management fees paid to related parties 2,685 2,850 4,975 5,159
Insurance 820 833 1,647 1,653
Property taxes, ground rent and insurance 6,134 5,981 11,877 11,275
Total hotel property level expenses 49,154 52,552 96,677 99,688
Adjusted Hotel EBITDA 30,891 33,652 51,726 54,679
Operating Segments [Member] | Hotel Level [Member] | Occupancy [Member]        
Revenue 73,396 79,044 135,814 141,526
Operating Segments [Member] | Hotel Level [Member] | Food and Beverage [Member]        
Revenue 1,864 2,127 3,523 3,973
Operating Segments [Member] | Hotel Level [Member] | Hotel, Other [Member]        
Revenue 4,785 5,033 9,066 8,868
Segment Reporting, Reconciling Item, Corporate Nonsegment [Member]        
Corporate general and administrative $ (3,992) $ (4,633) $ (8,599) $ (9,227)
[1] The difference between total hotel property level revenue and total revenue on the consolidated statements of operations is due to reimbursable costs from related parties of $0.2 million and $0.3 million for the three months ended June 30, 2025 and 2024, respectively, and $0.5 million and $0.6 million for the six months ended June 30, 2025 and 2024, respectively.