v3.26.3
Segment Reporting (Tables)
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Schedule of Revenues for Our Hotel Ownership Segment Reconciled
The following table presents revenues for our hotel ownership segment reconciled to our consolidated amounts and Hotel Adjusted EBITDA reconciled to consolidated net income (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Revenues:
Hotel ownership revenue$297,605 $285,384 $874,053 $845,957 
Total consolidated revenue297,605 285,384 874,053 845,957 
Significant expenses:
Rooms expense46,521 46,529 135,826 137,644 
Food and beverage expense48,998 47,181 145,724 144,146 
Other departmental and support expenses70,528 68,127 207,310 202,132 
Management fees(2)
8,319 7,492 22,990 20,711 
Franchise fees10,132 9,731 29,936 28,782 
Property taxes12,690 14,560 34,553 45,504 
Total significant expenses197,188 193,620 576,339 578,919 
Other segment expenses:
Other hotel expenses(1)
8,730 8,596 26,148 26,846 
Hotel Adjusted EBITDA:91,687 83,168 271,566 240,192 
Non-cash lease expense and other amortization1,331 1,279 3,906 3,862 
Hotel pre-opening and manager transition items— 135 — 479 
Loss on debt extinguishment— 5,850 — 5,850 
Depreciation and amortization28,530 28,340 85,911 84,388 
Corporate expenses10,696 8,567 28,656 25,715 
Interest expense14,648 17,111 43,780 47,137 
Interest income(1,215)(2,202)(2,419)(3,785)
Impairment loss— 1,076 — 1,076 
Other (income) expense, net(48)(95)(1,439)(740)
Loss (gain) on sale of hotel, net239 — (31,352)— 
Income tax expense4,097 469 5,823 618 
Consolidated net income:$33,409 $22,638 $138,700 $75,592 
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(1)Other hotel expenses is principally comprised of cash payments for leases and property insurance.
(2)Excludes the amortization of unfavorable management contracts.
Schedule of Reconciliation of Total Assets for Our Hotel Ownership Segment
The following table presents total assets for our hotel ownership segment, reconciled to total consolidated assets (in thousands):

September 30, 2026December 31, 2025
Hotel ownership$2,906,272 $2,908,811 
All other190,580 94,890 
Total assets$3,096,852 $3,003,701