v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
REVENUE    
Total revenue $ 267,732 $ 277,359
Hotel operating expenses:    
Total hotel expenses 181,130 188,474
Property taxes, insurance and other 14,894 16,049
Depreciation and amortization 32,006 37,339
Impairment charges 112,649 0
Advisory services fee 20,023 11,545
Corporate, general and administrative 1,602 4,332
Total operating expenses 362,304 257,739
Gain (loss) on disposition of assets and hotel properties 100,030 31,868
Gain (loss) on derecognition of assets 7,790 10,046
OPERATING INCOME (LOSS) 13,248 61,534
Equity in earnings (loss) of unconsolidated entities (202) (431)
Interest income 922 1,214
Other income (expense) 3,223 0
Interest expense and amortization of discounts and loan costs (73,554) (66,802)
Interest expense associated with hotels in receivership (7,820) (10,046)
Write-off of premiums, loan costs and exit fees (1,254) (4,597)
Gain (loss) on extinguishment of debt (25) (13)
Realized and unrealized gain (loss) on derivatives 757 (2,740)
INCOME (LOSS) BEFORE INCOME TAXES (64,705) (21,881)
Income tax (expense) benefit (752) (317)
NET INCOME (LOSS) (65,457) (22,198)
(Income) loss attributable to noncontrolling interest in consolidated entities 655 1,776
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership 1,030 451
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY (63,772) (19,971)
Preferred dividends (2,714) (6,729)
Deemed dividends on redeemable preferred stock (4,600) (1,057)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (71,086) $ (27,757)
Basic:    
Net income (loss) attributable to common stockholders (in dollars per share) $ (11.03) $ (4.91)
Weighted average common shares outstanding (in shares) 6,442 5,651
Diluted:    
Net income (loss) attributable to common stockholders (in dollars per share) $ (11.03) $ (4.91)
Weighted average common shares outstanding (in shares) 6,442 5,651
Total Hotel    
REVENUE    
Total revenue $ 267,578 $ 277,050
Rooms    
REVENUE    
Total revenue 200,025 206,301
Hotel operating expenses:    
Total hotel expenses 46,190 47,790
Food and beverage    
REVENUE    
Total revenue 51,570 54,529
Hotel operating expenses:    
Total hotel expenses 34,383 35,726
Other hotel    
REVENUE    
Total revenue 15,983 16,220
Hotel operating expenses:    
Total hotel expenses 91,273 95,110
Management Fees    
Hotel operating expenses:    
Total hotel expenses 9,284 9,848
Other    
REVENUE    
Total revenue $ 154 $ 309