v3.26.3
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
ASSETS    
Investment in hotel properties, net $ 4,767,037 $ 5,023,457
Hotel held for sale 9,907 0
Cash and cash equivalents 287,510 184,185
Restricted cash 10,355 12,018
Hotel receivables (net of allowance for doubtful accounts of $303 and $241, respectively) 43,134 34,184
Prepaid expenses and other assets 85,569 94,330
Total assets 5,203,512 5,348,174
LIABILITIES AND EQUITY    
Debt, net 2,081,769 2,124,092
Accounts payable, accrued expenses and other liabilities 228,197 199,631
Lease liabilities - operating leases 335,726 333,068
Deferred revenues 102,770 104,900
Accrued interest 19,325 12,106
Liabilities related to hotel held for sale 638 0
Distribution payable 10,977 11,639
Total liabilities 2,779,402 2,785,436
Commitments and contingencies (Note 11)
Shareholders' equity:    
Preferred shares of beneficial interest, $.01 par value (liquidation preference $630,147 and $676,724 at September 30, 2026 and December 31, 2025, respectively), 100,000,000 shares authorized; 25,205,860 and 27,068,962 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively 252 271
Common shares of beneficial interest, $.01 par value, 500,000,000 shares authorized; 111,300,549 and 113,188,134 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively 1,113 1,132
Additional paid-in capital 3,897,785 3,969,875
Accumulated other comprehensive income (loss) 9,233 605
Distributions and retained deficit (1,578,758) (1,503,262)
Total shareholders' equity 2,329,625 2,468,621
Non-controlling interests 94,485 94,117
Total equity 2,424,110 2,562,738
Total liabilities and equity $ 5,203,512 $ 5,348,174