v3.26.3
Note 15 - Segment Information - Schedule of Segment Information (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Revenues $ 90,921 $ 78,409 $ 246,229 $ 227,337
Property taxes, ground rent and insurance 5,486 5,328 15,928 17,205
Interest expense, including amortization of deferred fees (6,805) (6,243) (19,909) (19,508)
Depreciation and amortization (16,053) (14,707) (46,557) (45,133)
Other charges 122 (16) (360) (24)
Income tax expense (62) 0 (187) 0
Loss on early extinguishment of debt 0 (174) 0 (174)
Interest and other income 28 71 130 192
(Loss) gain on sale of hotel properties (82) 39 49 7,507
Net income 7,462 3,587 11,370 10,604
Occupancy [Member]        
Revenue 83,339 71,923 225,186 207,737
Food and Beverage [Member]        
Revenue 1,598 1,561 4,804 5,083
Hotel, Other [Member]        
Revenue 5,686 4,649 15,420 13,715
Operating Segments [Member] | Hotel Level [Member]        
Revenues [1] 90,623 78,133 245,410 226,535
Room 18,004 15,469 48,635 45,255
Food and beverage 1,350 1,368 4,064 4,192
Telephone 418 292 1,145 884
Other hotel operating 1,527 1,171 3,912 3,353
General and administrative 7,384 6,667 21,675 20,703
Franchise and marketing fees 7,230 6,349 19,456 18,215
Advertising and promotions 1,921 1,923 5,491 5,185
Utilities 4,107 3,597 10,270 9,561
Repairs and maintenance 4,197 3,797 11,727 11,463
Management fees paid to related parties 3,064 2,600 8,284 7,575
Insurance 903 813 2,662 2,459
Property taxes, ground rent and insurance 5,486 5,328 15,928 17,205
Total hotel property level expenses 55,591 49,374 153,249 146,050
Adjusted Hotel EBITDA 35,032 28,759 92,161 80,485
Operating Segments [Member] | Hotel Level [Member] | Occupancy [Member]        
Revenue 83,339 71,923 225,186 207,737
Operating Segments [Member] | Hotel Level [Member] | Food and Beverage [Member]        
Revenue 1,598 1,561 4,804 5,083
Operating Segments [Member] | Hotel Level [Member] | Hotel, Other [Member]        
Revenue 5,686 4,649 15,420 13,715
Segment Reporting, Reconciling Item, Corporate Nonsegment [Member]        
Corporate general and administrative $ (4,718) $ (4,142) $ (13,957) $ (12,741)
[1] The difference between total hotel property level revenue and total revenue on the consolidated statements of operations is due to reimbursable costs from related parties of $0.3 million and $0.3 million for the three months ended September 30, 2026 and 2025, respectively, and $0.8 million and $0.8 million for the nine months ended September 30, 2026 and 2025, respectively.