v3.26.1
Segment Reporting - Schedule of Reconciliation of Operating Income (Loss) to Net Income (Loss) (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Revenue $ 273,240 $ 302,001 $ 540,972 $ 579,360
Depreciation and amortization (28,628) (35,276) (60,634) (72,615)
Impairment charges 0 (1,447) (112,649) (1,447)
Advisory services fee (14,199) (12,017) (34,222) (23,562)
Corporate, general, and administrative (1,325) (5,485) (2,927) (9,817)
Gain (loss) on disposition of assets and hotel properties 150,046 6,684 250,076 38,552
Gain (loss) on derecognition of assets 6,828 9,900 14,618 19,946
Equity in earnings (loss) of unconsolidated entities 47 44 (155) (387)
Interest income 1,047 1,253 1,969 2,467
Other income (expense), net 0 0 3,223 0
Interest expense associated with hotels in receivership (7,607) (10,454) (15,427) (20,846)
Write-off of premiums, loan costs and exit fees (305) (1,486) (1,559) (6,083)
Gain (loss) on extinguishment of debt (1,950) (2) (1,975) (15)
Realized and unrealized gain (loss) on derivatives 44 (836) 801 (3,576)
Income tax (expense) benefit (2,553) (119) (3,305) (436)
NET INCOME (LOSS) 129,381 (32,439) 63,924 (54,637)
Other        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Revenue 173 456 327 765
Food and beverage        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Revenue 47,007 55,336 98,577 109,865
Other Hotel        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Revenue 16,442 19,006 32,425 35,226
Direct Hotel Investments        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Hotel adjusted EBITDA 88,351 92,279 165,156 170,752
Depreciation and amortization (28,628) (35,276) (60,634) (72,615)
Impairment charges 0 (1,447) (112,649) (1,447)
Advisory services fee (14,199) (12,017) (34,222) (23,562)
Corporate, general, and administrative (1,325) (5,485) (2,927) (9,817)
Gain (loss) on disposition of assets and hotel properties 150,046 6,684 250,076 38,552
Gain (loss) on derecognition of assets 6,828 9,900 14,618 19,946
Equity in earnings (loss) of unconsolidated entities 47 44 (155) (387)
Interest income 1,047 1,253 1,969 2,467
Other income (expense), net 0 0 3,223 0
Interest expense and amortization of discounts and loan costs (55,670) (70,135) (129,224) (136,591)
Interest expense associated with hotels in receivership (7,607) (10,454) (15,427) (20,846)
Write-off of premiums, loan costs and exit fees (305) (1,486) (1,559) (6,083)
Gain (loss) on extinguishment of debt (1,950) (2) (1,975) (15)
Realized and unrealized gain (loss) on derivatives 44 (836) 801 (3,576)
Income tax (expense) benefit (2,553) (119) (3,305) (436)
NET INCOME (LOSS) 129,381 (32,439) 63,924 (54,637)
Direct Hotel Investments | Other        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Revenue 173 456 327 765
Direct Hotel Investments | Food and beverage        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Revenue 47,007 55,336 98,577 109,865
Cost of goods and service, adjusted (82) 0 (165) 0
Direct Hotel Investments | Other Hotel        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Revenue 16,442 19,006 32,425 35,226
Cost of goods and service, adjusted (4,729) (5,206) (9,620) (10,562)
Direct Hotel Investments | Property taxes, insurance and other        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Cost of goods and service, adjusted (88) (520) (265) (840)
Direct Hotel Investments | Management Fees        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Cost of goods and service, adjusted $ (19) $ (72) $ (119) $ (342)