v3.26.3
Leases and Management Agreements - Sonesta Agreement (Details)
$ in Thousands
1 Months Ended 3 Months Ended 9 Months Ended
Aug. 01, 2025
USD ($)
renewalOption
Sep. 30, 2026
USD ($)
property
room
key
Sep. 30, 2026
USD ($)
property
room
key
Sep. 30, 2025
USD ($)
Sep. 30, 2026
USD ($)
property
room
key
Sep. 30, 2025
USD ($)
Nov. 02, 2026
property
key
Oct. 31, 2026
property
key
Mar. 31, 2026
property
room
Dec. 31, 2025
USD ($)
Management Agreements and Leases [Line Items]                    
Capital improvements from leased facilities, funded         $ 110,062 $ 148,154        
Due from related persons   $ 12,191 $ 12,191   $ 12,191         $ 241
Disposal Group, Disposed of By Sale, Not Discontinued Operations | Real Estate Dispositions                    
Management Agreements and Leases [Line Items]                    
Number of properties | property   32 32   32          
Number of units related to real estate property | room   1,346 1,346   1,346          
Sonesta Agreement                    
Management Agreements and Leases [Line Items]                    
Percentage of gross revenues from hotel operations placed into escrow         5.00%          
Escrow deposits     $ 0 $ 0 $ 0 0        
Hotel                    
Management Agreements and Leases [Line Items]                    
Number of properties | property   87 87   87          
Number of units related to real estate property | room   19,897 19,897   19,897          
Hotel | Disposal Group, Disposed of By Sale, Not Discontinued Operations | Real Estate Dispositions                    
Management Agreements and Leases [Line Items]                    
Number of properties | property   6 6   6       1  
Number of units related to real estate property | room   1,213 1,213   1,213       133  
Hotel | Disposal Group, Disposed of By Sale, Not Discontinued Operations | Real Estate Dispositions | Subsequent Event                    
Management Agreements and Leases [Line Items]                    
Number of properties | property             8 8    
Number of units related to real estate property | key             1,509 1,509    
Hotel | Assets Held for Sale | Real Estate Dispositions                    
Management Agreements and Leases [Line Items]                    
Number of properties | property   9 9   9          
Number of units related to real estate property | key   1,809 1,809   1,809          
Hotel | Assets Held for Sale | Real Estate Dispositions | Subsequent Event                    
Management Agreements and Leases [Line Items]                    
Number of properties | property               1    
Number of units related to real estate property | key               300    
Hotel | Sonesta Agreement                    
Management Agreements and Leases [Line Items]                    
Payment for additional return (as percent)   80.00% 80.00%   80.00%          
Number of renewal options | renewalOption 2                  
Term of renewal options (in years) 10 years                  
Incentive fee (as percent) 20.00%                  
Incentive threshold cap $ 194,248                  
Brand promotion fee, percent of gross revenues 3.50%                  
Loyalty fee, percent of room revenues 1.00%                  
Construction management fee percentage 3.00%                  
Termination, performance threshold period (in years) 2 years                  
Hotel management agreement termination fee   $ 11,035                
Realized returns under Sonesta agreement     $ 31,966 37,209 $ 86,046 120,896        
Related party transaction, management, marketing and reservation system fees     15,428 31,575 44,962 89,734        
Accrued incentive fee         1,139          
Procurement and construction supervision fees     283 850 960 2,096        
Capital improvements from leased facilities, funded     26,591 $ 44,268 70,491 $ 123,075        
Advanced working capital   29,898 29,898   29,898         31,835
Hotel | Sonesta Agreement | Subsequent Event                    
Management Agreements and Leases [Line Items]                    
Number of properties | property               53    
Hotel | Full Service Hotel | Sonesta Agreement                    
Management Agreements and Leases [Line Items]                    
Base management fee, percent of gross revenues 3.00%                  
Loyalty fee, percent of qualified room revenues 4.50%                  
Centralized service fee $ 1,100                  
Hotel | Limited Services Hotel | Sonesta Agreement                    
Management Agreements and Leases [Line Items]                    
Base management fee, percent of gross revenues 5.00%                  
Loyalty fee, percent of qualified room revenues 2.50%                  
Centralized service fee $ 250                  
Hotel | Select Service Hotels | Sonesta Agreement                    
Management Agreements and Leases [Line Items]                    
Base management fee, percent of gross revenues 5.00%                  
Loyalty fee, percent of qualified room revenues 3.00%                  
Centralized service fee $ 250                  
Sonesta International Hotels Corporation | Hotel                    
Management Agreements and Leases [Line Items]                    
Due to related party, reimbursement of capital expenditures and other   4,196 4,196   4,196         39,509
Sonesta International Hotels Corporation | Hotel | Return of Capital                    
Management Agreements and Leases [Line Items]                    
Annual priority return under Sonesta agreement   202,788 202,788   202,788          
Due from related persons   $ 12,191 $ 12,191   $ 12,191         $ 241
Sonesta International Hotels Corporation | Hotel | Real Estate Assets at Cost | Credit Concentration                    
Management Agreements and Leases [Line Items]                    
Percentage of historical real estate investments         39.90%          
Sonesta International Hotels Corporation | Hotel | Full Service Hotel                    
Management Agreements and Leases [Line Items]                    
Number of real estate properties leased or managed | property   36 36   36          
Sonesta International Hotels Corporation | Hotel | Limited Services Hotel                    
Management Agreements and Leases [Line Items]                    
Number of real estate properties leased or managed | property   19 19   19          
Sonesta International Hotels Corporation | Hotel | Select Service Hotels                    
Management Agreements and Leases [Line Items]                    
Number of real estate properties leased or managed | property   7 7   7