v3.26.1
Segment Information - Schedule of Segment Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Mar. 31, 2026
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 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  
Less (plus):              
Hotel operating expenses 264,654   328,913   507,298 634,753  
Other operating expenses 6,046   5,439   13,486 11,067  
Depreciation and amortization 77,083   75,030   152,926 164,130  
Interest expense 87,655   102,679   184,202 204,196  
Segment profit (loss) (223,838) $ (151,178) (38,159) $ (116,435) (375,016) (154,594)  
Reconciliation of segment profit or loss:              
General and administrative (11,093)   (10,218)   (19,889) (19,774)  
Interest income 1,165   822   2,108 2,071  
Interest expense 87,655   102,679   184,202 204,196  
Loss on early extinguishment of debt, net (9,383)   0   (61,254) 0  
Income tax benefit (expense) 132   (457)   (1,049) (1,300)  
Equity in earnings (losses) of an investee (252)   (526)   (3,253) (4,473)  
Total assets 5,838,485       5,838,485   $ 6,491,580
Total capital expenditures 29,904   39,075   50,834 84,944  
Net Lease              
Reconciliation of segment profit or loss:              
Total capital expenditures 1,280   234   1,860 982  
Hotels              
Reconciliation of segment profit or loss:              
Total capital expenditures 28,624   38,841   48,974 83,962  
Operating segments              
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  
Less (plus):              
Management fees 13,799   17,223   25,699 31,795  
Real estate taxes and insurance 23,788   29,845   49,573 60,246  
Other operating expenses 112,721   138,760   217,703 271,027  
Depreciation and amortization 77,083   75,030   152,926 164,130  
Interest expense 24,558   12,547   40,350 24,673  
Other segment items 191,832   19,085   221,016 55,293  
Segment profit (loss) (143,199)   62,422   (149,651) 48,699  
Reconciliation of segment profit or loss:              
Interest expense 24,558   12,547   40,350 24,673  
Operating segments | Room expenses              
Less (plus):              
Hotel operating expenses 76,054   104,077   143,166 197,986  
Operating segments | Food and beverage expenses              
Less (plus):              
Hotel operating expenses 44,338   44,447   84,643 84,766  
Operating segments | Net Lease              
Revenues:              
Hotel operating revenues 0   0   0 0  
Rental income 100,903   99,031   200,779 199,247  
Total revenues 100,903   99,031   200,779 199,247  
Less (plus):              
Management fees 2,748   2,110   5,519 4,197  
Real estate taxes and insurance 1,116   671   3,221 1,459  
Other operating expenses 2,182   2,658   4,746 5,411  
Depreciation and amortization 33,365   36,576   66,302 71,933  
Interest expense 24,558   12,547   40,350 24,673  
Other segment items 773   3,812   9,761 3,322  
Segment profit (loss) 36,161   40,657   70,880 88,252  
Reconciliation of segment profit or loss:              
Interest expense 24,558   12,547   40,350 24,673  
Total assets 2,830,520       2,830,520   2,902,699
Operating segments | Net Lease | Room expenses              
Less (plus):              
Hotel operating expenses 0   0   0 0  
Operating segments | Net Lease | Food and beverage expenses              
Less (plus):              
Hotel operating expenses 0   0   0 0  
Operating segments | Hotels              
Revenues:              
Hotel operating revenues 320,071   404,405   584,646 739,368  
Rental income 0   0   0 0  
Total revenues 320,071   404,405   584,646 739,368  
Less (plus):              
Management fees 11,051   15,113   20,180 27,598  
Real estate taxes and insurance 22,672   29,174   46,352 58,787  
Other operating expenses 110,539   136,102   212,957 265,616  
Depreciation and amortization 43,718   38,454   86,624 92,197  
Interest expense 0   0   0 0  
Other segment items 191,059   15,273   211,255 51,971  
Segment profit (loss) (179,360)   21,765   (220,531) (39,553)  
Reconciliation of segment profit or loss:              
Interest expense 0   0   0 0  
Total assets 2,873,205       2,873,205   3,107,967
Operating segments | Hotels | Room expenses              
Less (plus):              
Hotel operating expenses 76,054   104,077   143,166 197,986  
Operating segments | Hotels | Food and beverage expenses              
Less (plus):              
Hotel operating expenses 44,338   44,447   84,643 84,766  
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment              
Less (plus):              
Interest expense 63,097   90,132   143,852 179,523  
Reconciliation of segment profit or loss:              
General and administrative (11,093)   (10,218)   (19,889) (19,774)  
Transaction related costs 1,947   0   1,941 (29)  
Interest income 1,107   752   1,991 1,806  
Interest expense 63,097   90,132   143,852 179,523  
Loss on early extinguishment of debt, net (9,383)   0   (61,254) 0  
Income tax benefit (expense) 132   (457)   (1,049) (1,300)  
Equity in earnings (losses) of an investee (252)   $ (526)   (3,253) $ (4,473)  
Corporate              
Reconciliation of segment profit or loss:              
Total assets $ 134,760       $ 134,760   $ 480,914