v3.26.1
Debt - Schedule of Components of Debt (Details)
3 Months Ended
Mar. 31, 2026
USD ($)
extensionOption
Dec. 31, 2025
USD ($)
Oct. 03, 2024
Dec. 01, 2021
Debt Instrument [Line Items]        
Total debt principal $ 2,104,503,000 $ 2,145,264,000    
Unamortized debt premium and deferred financing costs, net (25,169,000) (21,172,000)    
Debt, net 2,079,334,000 2,124,092,000    
Unsecured term loans | Unsecured revolving credit facilities        
Debt Instrument [Line Items]        
Total debt principal $ 0 0    
Unsecured term loans | Unsecured revolving credit facilities | Senior unsecured credit facility        
Debt Instrument [Line Items]        
Interest rate 0.00%      
Total debt principal $ 0 0    
Number of extensions | extensionOption 2      
Extension term 6 months      
Unsecured term loans | Unsecured revolving credit facilities | PHL unsecured credit facility        
Debt Instrument [Line Items]        
Interest rate 0.00%      
Total debt principal $ 0 0    
Unsecured term loans | Unsecured term loans        
Debt Instrument [Line Items]        
Debt, net $ 901,869,000 901,869,000    
Unsecured term loans | Unsecured term loans | Term Loan 2027        
Debt Instrument [Line Items]        
Interest rate 0.00%      
Total debt principal $ 0 360,000,000    
Unsecured term loans | Unsecured term loans | Term Loan 2028        
Debt Instrument [Line Items]        
Interest rate 5.15%      
Total debt principal $ 356,652,000 356,652,000    
Unsecured term loans | Unsecured term loans | Term Loan 2029        
Debt Instrument [Line Items]        
Interest rate 4.91%      
Total debt principal $ 185,217,000 185,217,000    
Unsecured term loans | Unsecured term loans | Term Loan 2031        
Debt Instrument [Line Items]        
Interest rate 5.23%      
Total debt principal $ 360,000,000 0    
Convertible senior notes        
Debt Instrument [Line Items]        
Total debt principal $ 750,000,000 750,000,000    
Convertible senior notes | Convertible Notes 2026        
Debt Instrument [Line Items]        
Interest rate 1.75%      
Total debt principal $ 350,000,000 350,000,000    
Convertible senior notes | Convertible Notes 2030        
Debt Instrument [Line Items]        
Interest rate 1.625%      
Total debt principal $ 400,000,000 400,000,000    
Unsecured senior notes | Unsecured senior notes principal        
Debt Instrument [Line Items]        
Interest rate 6.38%   6.375%  
Total debt principal $ 400,000,000 400,000,000    
Mortgage loans        
Debt Instrument [Line Items]        
Total debt principal $ 52,634,000 93,395,000    
Mortgage loans | Margaritaville Hollywood Beach Resort        
Debt Instrument [Line Items]        
Interest rate 0.00%      
Total debt principal $ 0 40,000,000    
Mortgage loans | Estancia La Jolla Hotel & Spa        
Debt Instrument [Line Items]        
Interest rate 5.07%     5.07%
Total debt principal $ 52,634,000 $ 53,395,000