Disposals |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||
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| Disposals | 4. Disposals The Company classified Hyatt Regency San Francisco as held for sale at June 30, 2026, and subsequently sold the hotel in July 2026 (see Note 15). The sale did not represent a strategic shift that had a major impact on the Company’s business plan or its primary markets; therefore, the hotel did not qualify as a discontinued operation. The Company’s restricted cash at June 30, 2026 includes $25.0 million of earnest money received from the buyer in connection with the sale of the hotel and held in escrow pending completion of the transaction. A corresponding liability related to the buyer’s deposit is included in other liabilities. The Company classified the assets and liabilities of Hyatt Regency San Francisco as held for sale at June 30, 2026 as follows (in thousands):
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