v3.26.1
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Investment in hotel properties, gross $ 2,291,237 $ 3,069,016
Accumulated depreciation (747,916) (983,772)
Investment in hotel properties, net 1,543,321 2,085,244
Cash and cash equivalents 72,510 66,145
Restricted cash 136,985 149,580
Accounts receivable, net 38,883 32,752
Allowance for doubtful accounts receivable 213 424
Inventories 2,672 3,598
Deferred costs 837 1,529
Prepaid expenses and other assets 17,124 32,057
Indebtedness, net 1,905,747 2,504,637
Accounts payable and accrued expenses 114,368 123,773
Accrued interest payable 31,224 12,176
Other liabilities $ 36,624 $ 36,768
Preferred stock, par value (in dollars per shares) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares) 55,000,000 55,000,000
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 395,000,000 395,000,000
Common stock, shares issued (in shares) 6,476,491 6,476,157
Common stock, shares outstanding (in shares) 6,476,491 6,476,157
Preferred Stock, Series J    
Redeemable Preferred Stock, par value (in dollars per share) $ 0.01 $ 0.01
Redeemable Preferred Stock, shares issued (in shares) 7,684,197 7,684,201
Redeemable Preferred Stock, shares outstanding (in shares) 7,684,197 7,684,201
Preferred Stock, Series K    
Redeemable Preferred Stock, par value (in dollars per share) $ 0.01 $ 0.01
Redeemable Preferred Stock, shares issued (in shares) 731,102 731,102
Redeemable Preferred Stock, shares outstanding (in shares) 731,102 731,102
Preferred Stock, Series L    
Redeemable Preferred Stock, par value (in dollars per share) $ 0.01 $ 0.01
Redeemable Preferred Stock, shares issued (in shares) 238,191 238,191
Redeemable Preferred Stock, shares outstanding (in shares) 238,191 238,191
Preferred Stock, Series M    
Redeemable Preferred Stock, par value (in dollars per share) $ 0.01 $ 0.01
Redeemable Preferred Stock, shares issued (in shares) 550,888 550,888
Redeemable Preferred Stock, shares outstanding (in shares) 550,888 550,888
Preferred Stock, Series D    
Preferred stock, shares issued (in shares) 1,111,127 1,111,127
Preferred stock, shares outstanding (in shares) 1,111,127 1,111,127
Preferred Stock, Series F    
Preferred stock, shares issued (in shares) 1,037,044 1,037,044
Preferred stock, shares outstanding (in shares) 1,037,044 1,037,044
Preferred Stock, Series G    
Preferred stock, shares issued (in shares) 1,470,948 1,470,948
Preferred stock, shares outstanding (in shares) 1,470,948 1,470,948
Preferred Stock, Series H    
Preferred stock, shares issued (in shares) 1,037,956 1,037,956
Preferred stock, shares outstanding (in shares) 1,037,956 1,037,956
Preferred Stock, Series I    
Preferred stock, shares issued (in shares) 1,034,303 1,034,303
Preferred stock, shares outstanding (in shares) 1,034,303 1,034,303
Variable Interest Entity, Primary Beneficiary    
Investment in hotel properties, gross $ 82,787 $ 82,787
Accumulated depreciation (7,631) (5,558)
Investment in hotel properties, net 75,156 77,229
Cash and cash equivalents 1,563 468
Restricted cash 4,260 4,731
Accounts receivable, net 220 143
Inventories 24 44
Deferred costs 79 80
Prepaid expenses and other assets 107 40
Indebtedness, net 15,586 15,961
Accounts payable and accrued expenses 15,773 15,534
Accrued interest payable 146 152
Other accounts payable 3,654 3,438
Other liabilities $ 28,942 $ 28,897