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Investments in Hotel Properties, net (Tables)
9 Months Ended
Sep. 30, 2026
Property, Plant and Equipment [Abstract]  
Schedule of Investments in Hotel Properties, Net
Investments in hotel properties, net consisted of the following (in thousands):
September 30, 2026December 31, 2025
Land$221,833 $576,362 
Buildings and improvements661,056 1,116,816 
Furniture, fixtures and equipment113,071 179,984 
Construction in progress6,906 16,420 
Residences12,746 12,746 
Total cost1,015,612 1,902,328 
Accumulated depreciation(263,144)(344,061)
Investments in hotel properties, net$752,468 $1,558,267