v3.26.1
Debt - Narrative (Details)
 1 Months Ended 3 Months Ended
Feb. 28, 2026
USD ($)
Mar. 31, 2026
USD ($)
extensionOption
$ / shares
Mar. 31, 2025
USD ($)
Feb. 11, 2026
USD ($)
Dec. 31, 2025
USD ($)
Oct. 03, 2024
USD ($)
Sep. 07, 2023
USD ($)
Oct. 13, 2022
USD ($)
debtInstrument
Dec. 01, 2021
USD ($)
Line of Credit Facility [Line Items]                  
Total debt principal   $ 2,104,503,000     $ 2,145,264,000        
Letters of credit outstanding   8,800,000     7,900,000        
Repayments of long term debt   400,761,000 $ 549,000            
Interest Rate Swaps                  
Line of Credit Facility [Line Items]                  
Derivative instruments, asset position, fair value   3,300,000     700,000        
Derivative instruments, liability position, fair value   0     900,000        
Expected reclassifications in next 12 months   2,600,000              
Convertible senior notes                  
Line of Credit Facility [Line Items]                  
Total debt principal   750,000,000     750,000,000        
Mortgage loans                  
Line of Credit Facility [Line Items]                  
Total debt principal   52,634,000     93,395,000        
Mortgage loans | Estancia La Jolla Hotel & Spa                  
Line of Credit Facility [Line Items]                  
Total debt principal   $ 52,634,000     53,395,000        
Stated interest rate   5.07%             5.07%
Debt issued                 $ 61,700,000
Mortgage loans | Margaritaville Hollywood Beach Resort                  
Line of Credit Facility [Line Items]                  
Total debt principal   $ 0     40,000,000        
Debt issued             $ 140,000,000.0    
Repayments of long term debt $ 40,000,000.0                
Convertible Notes 2026 | Convertible senior notes                  
Line of Credit Facility [Line Items]                  
Total debt principal   $ 350,000,000     350,000,000        
Stated interest rate   1.75%              
Unamortized issuance costs   $ 300,000     400,000        
Election period, prior to maturity date   2 days              
Convertible debt, conversion ratio   0.0392549              
Convertible debt, conversion price (in usd per share) | $ / shares   $ 25.47              
Redemption price percentage   100.00%              
Capped call transaction, upper strike price (in usd per share) | $ / shares   $ 33.0225              
Convertible Notes 2030 | Convertible senior notes                  
Line of Credit Facility [Line Items]                  
Total debt principal   $ 400,000,000     400,000,000        
Stated interest rate   1.625%              
Unamortized issuance costs   $ 9,200,000     9,800,000        
Election period, prior to maturity date   2 days              
Convertible debt, conversion ratio   0.0629129              
Convertible debt, conversion price (in usd per share) | $ / shares   $ 15.89              
Redemption price percentage   100.00%              
Capped call transaction, upper strike price (in usd per share) | $ / shares   $ 20.23              
Unsecured senior notes principal | Unsecured senior notes                  
Line of Credit Facility [Line Items]                  
Total debt principal   $ 400,000,000     400,000,000        
Stated interest rate   6.38%       6.375%      
Debt issued           $ 400,000,000.0      
Unsecured indebtedness, percentage   1.50              
Fixed Rate Debt                  
Line of Credit Facility [Line Items]                  
Estimated fair value of debt   $ 1,200,000,000     1,200,000,000        
Unsecured revolving credit facilities | Unsecured term loans                  
Line of Credit Facility [Line Items]                  
Total debt principal   0     0        
Unsecured revolving credit facilities | Senior unsecured credit facility | Unsecured term loans                  
Line of Credit Facility [Line Items]                  
Maximum borrowing capacity   650,000,000.0           $ 650,000,000.0  
Maximum borrowing capacity potential increase (up to)               $ 970,000,000.0  
Remaining borrowing capacity   $ 641,200,000              
Number of extensions | extensionOption   2              
Extension term   6 months              
Total debt principal   $ 0     0        
Unsecured revolving credit facilities | Senior unsecured credit facility | Unsecured term loans | Minimum                  
Line of Credit Facility [Line Items]                  
Commitment fee percentage   0.20%              
Unsecured revolving credit facilities | Senior unsecured credit facility | Unsecured term loans | Maximum                  
Line of Credit Facility [Line Items]                  
Commitment fee percentage   0.30%              
Unsecured revolving credit facilities | Senior unsecured credit facility | Unsecured term loans | SOFR | Minimum                  
Line of Credit Facility [Line Items]                  
Basis spread on variable rate   1.45%              
Unsecured revolving credit facilities | Senior unsecured credit facility | Unsecured term loans | SOFR | Maximum                  
Line of Credit Facility [Line Items]                  
Basis spread on variable rate   2.50%              
Unsecured revolving credit facilities | Senior unsecured credit facility | Unsecured term loans | Base Rate | Minimum                  
Line of Credit Facility [Line Items]                  
Basis spread on variable rate   0.45%              
Unsecured revolving credit facilities | Senior unsecured credit facility | Unsecured term loans | Base Rate | Maximum                  
Line of Credit Facility [Line Items]                  
Basis spread on variable rate   1.50%              
Unsecured revolving credit facilities | PHL unsecured credit facility | Unsecured term loans                  
Line of Credit Facility [Line Items]                  
Maximum borrowing capacity   $ 20,000,000.0              
Remaining borrowing capacity   20,000,000.0              
Total debt principal   $ 0     0        
Unsecured revolving credit facilities | Senior Unsecured Revolving Credit Facility Due October 2028 | Unsecured term loans                  
Line of Credit Facility [Line Items]                  
Maximum borrowing capacity       $ 48,000,000.0          
Unsecured term loans | Unsecured term loans                  
Line of Credit Facility [Line Items]                  
Debt instrument, number of instruments | debtInstrument               3  
Unsecured term loans | Unsecured term loans | SOFR | Minimum                  
Line of Credit Facility [Line Items]                  
Basis spread on variable rate   1.45%              
Unsecured term loans | Unsecured term loans | SOFR | Maximum                  
Line of Credit Facility [Line Items]                  
Basis spread on variable rate   2.45%              
Unsecured term loans | Unsecured term loans | Base Rate | Minimum                  
Line of Credit Facility [Line Items]                  
Basis spread on variable rate   0.40%              
Unsecured term loans | Unsecured term loans | Base Rate | Maximum                  
Line of Credit Facility [Line Items]                  
Basis spread on variable rate   1.45%              
Unsecured term loans | Term Loan 2027 | Unsecured term loans                  
Line of Credit Facility [Line Items]                  
Maximum borrowing capacity       360,000,000.0          
Total debt principal   $ 0     $ 360,000,000        
Delayed Draw Term Loan (DDTL) | Unsecured term loans                  
Line of Credit Facility [Line Items]                  
Remaining borrowing capacity       $ 90,000,000.0          
Letters of Credit                  
Line of Credit Facility [Line Items]                  
Maximum borrowing capacity   $ 30,000,000.0