v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Hotel operating revenues $ 320,071 $ 404,405 $ 584,646 $ 739,368
Rental income 100,903 99,031 200,779 199,247
Total revenues 420,974 503,436 785,425 938,615
Expenses:        
Hotel operating expenses 264,654 328,913 507,298 634,753
Net lease operating expenses 6,046 5,439 13,486 11,067
Depreciation and amortization 77,083 75,030 152,926 164,130
General and administrative 11,093 10,218 19,889 19,774
Transaction related costs 463 1,345 2,972 1,456
Loss on asset impairment 189,097 17,654 217,192 54,721
Total expenses 548,436 438,599 913,763 885,901
(Loss) gain on sale of real estate, net (383) (156) 972 590
Interest income 1,165 822 2,108 2,071
Interest expense (including amortization of debt issuance costs, discounts and premiums of $18,822, $9,900, $37,671 and $18,580, respectively) (87,655) (102,679) (184,202) (204,196)
Loss on early extinguishment of debt, net (9,383) 0 (61,254) 0
Loss before income tax benefit (expense) and equity in losses of an investee (223,718) (37,176) (370,714) (148,821)
Income tax benefit (expense) 132 (457) (1,049) (1,300)
Equity in losses of an investee (252) (526) (3,253) (4,473)
Segment profit (loss) (223,838) (38,159) (375,016) (154,594)
Other comprehensive (loss) income:        
Equity interest in investee’s unrealized (losses) gains (71) 155 (57) 308
Other comprehensive (loss) income (71) 155 (57) 308
Comprehensive loss $ (223,909) $ (38,004) $ (375,073) $ (154,286)
Weighted average common shares outstanding (basic) (in shares) 128,085 33,148 80,944 33,135
Weighted average common shares outstanding (diluted) (in shares) 128,085 33,148 80,944 33,135
Net loss per common share (basic) (in dollars per share) $ (1.75) $ (1.15) $ (4.63) $ (4.67)
Net loss per common share (diluted) (in dollars per share) $ (1.75) $ (1.15) $ (4.63) $ (4.67)