v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
ASSETS    
Investment in hotel properties, net $ 4,974,733 $ 5,023,457
Cash and cash equivalents 196,207 184,185
Restricted cash 8,396 12,018
Hotel receivables (net of allowance for doubtful accounts of $225 and $241, respectively) 39,697 34,184
Prepaid expenses and other assets 85,137 94,330
Total assets 5,304,170 5,348,174
LIABILITIES AND EQUITY    
Debt, net 2,079,334 2,124,092
Accounts payable, accrued expenses and other liabilities 215,680 199,631
Lease liabilities - operating leases 333,030 333,068
Deferred revenues 113,800 104,900
Accrued interest 19,188 12,106
Distribution payable 11,611 11,639
Total liabilities 2,772,643 2,785,436
Commitments and contingencies (Note 11)
Shareholders' equity:    
Preferred shares of beneficial interest, $.01 par value (liquidation preference $676,724 at March 31, 2026 and December 31, 2025), 100,000,000 shares authorized; 27,068,962 shares issued and outstanding at March 31, 2026 and December 31, 2025 271 271
Common shares of beneficial interest, $.01 par value, 500,000,000 shares authorized; 112,985,227 and 113,188,134 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 1,130 1,132
Additional paid-in capital 3,966,623 3,969,875
Accumulated other comprehensive income (loss) 3,268 605
Distributions and retained deficit (1,534,069) (1,503,262)
Total shareholders' equity 2,437,223 2,468,621
Non-controlling interests 94,304 94,117
Total equity 2,531,527 2,562,738
Total liabilities and equity $ 5,304,170 $ 5,348,174