Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of basic and incentive management fees

Total basic management and incentive management fees were included in other property-level expenses on the accompanying consolidated statements of operations as follows (unaudited and in thousands):


		Three Months Ended March 31,
		2026			2025
Basic management fees		$	7,304		$	6,397
Incentive management fees			1,581			1,585
Total basic and incentive management fees		$	8,885		$	7,982

Schedule of license and franchise costs

Total license and franchise fees were included in franchise costs on the accompanying consolidated statements of operations as follows (unaudited and in thousands):


		Three Months Ended March 31,
		2026			2025
Franchise assessments (1)		$	4,417		$	4,061
Franchise royalties			168			398
Total franchise costs		$	4,585		$	4,459

(1)

Includes advertising, reservation and frequent guest program assessments.

Schedule of hotel geographic concentration of risk

As of March 31, 2026, the Company’s hotels were geographically concentrated as follows (unaudited):


						Trailing 12-Month
				Percentage of		Total Consolidated
		Number of Hotels		Total Rooms		Revenue
Northern California		3		15	%	22	%
Southern California		2		22	%	22	%
Florida		3		18	%	15	%
Hawaii		1		8	%	14	%
Washington, DC		1		12	%	10	%