Segment Information (Tables)

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Schedule of segment information

	For the Three Months Ended September 30, 2019
	Hotels		Net Lease		Corporate			Consolidated
Revenues:
Hotel operating revenues	$	525,290	$	—	$	—		$	525,290
Rental income	5,565		68,054		—			73,619
FF&E reserve income	863		—		—			863
Total revenues	531,718		68,054		—			599,772
Expenses:
Hotel operating expenses	377,895		—		—			377,895
Other operating expenses	369		1,338		—			1,707
Depreciation and amortization	66,929		36,231		—			103,160
General and administrative	—		—		12,464			12,464
Total expenses	445,193		37,569		12,464			495,226
Dividend income	—		—		—			—
Unrealized losses on equity securities	—		—		(3,950		)	(3,950		)
Interest income	177		—		511			688
Interest expense	—		—		(52,375		)	(52,375		)
Loss on early extinguishment of debt	—		—		(8,451		)	(8,451		)
Income (loss) before income taxes and equity in earnings of an investee	86,702		30,485		(76,729		)	40,458
Income tax expense	—		—		(467		)	(467		)
Equity in earnings of an investee	—		—		83			83
Net income (loss)	$	86,702	$	30,485	$	(77,113	)	$	40,074
	For the Nine Months Ended September 30, 2019
	Hotels		Net Lease		Corporate			Consolidated
Revenues:
Hotel operating revenues	$	1,521,368	$	—	$	—		$	1,521,368
Rental income	16,700		193,809		—			210,509
FF&E reserve income	3,365		—		—			3,365
Total revenues	1,541,433		193,809		—			1,735,242
Expenses:
Hotel operating expenses	1,076,011		—		—			1,076,011
Other operating expenses	1,101		3,318		—			4,419
Depreciation and amortization	200,533		101,188		—			301,721
General and administrative	—		—		36,906			36,906
Total expenses	1,277,645		104,506		36,906			1,419,057
Gain on sale of real estate	—		159,535		—			159,535
Dividend income	—		—		1,752			1,752
Unrealized losses on equity securities	—		—		(43,761		)	(43,761		)
Interest income	603		—		1,171			1,774
Interest expense	—		—		(151,742		)	(151,742		)
Loss on early extinguishment of debt	—		—		(8,451		)	(8,451		)
Income (loss) before income taxes and equity in earnings of an investee	264,391		248,838		(237,937		)	275,292
Income tax expense	—		—		(1,266		)	(1,266		)
Equity in earnings of an investee	—		—		617			617
Net income (loss)	$	264,391	$	248,838	$	(238,586	)	$	274,643
	As of September 30, 2019
	Hotels		Net Lease		Corporate			Consolidated
Total assets	$	4,823,114	$	4,642,072	$	50,317		$	9,515,503

	For the Three Months Ended September 30, 2018
	Hotels		Net Lease		Corporate			Consolidated
Revenues:
Hotel operating revenues	$	520,618	$	—	$	—		$	520,618
Rental income	6,404		74,918		—			81,322
FF&E reserve income	1,213		—		—			1,213
Total revenues	528,235		74,918		—			603,153
Expenses:
Hotel operating expenses	365,526		—		—			365,526
Other operating expenses	427		1,041		—			1,468
Depreciation and amortization	64,415		36,592		—			101,007
General and administrative	—		—		13,425			13,425
Total expenses	430,368		37,633		13,425			481,426
Dividend income	—		—		626			626
Unrealized gains and losses on equity securities, net	—		—		43,453			43,453
Interest income	314		—		164			478
Interest expense	—		—		(49,308		)	(49,308		)
Loss on early extinguishment of debt	—		—		—			—
Income (loss) before income taxes and equity in earnings of an investee	98,181		37,285		(18,490		)	116,976
Income tax expense	—		—		(707		)	(707		)
Equity in earnings of an investee	—		—		830			830
Net income (loss)	$	98,181	$	37,285	$	(18,367	)	$	117,099
	For the Nine Months Ended September 30, 2018
	Hotels		Net Lease		Corporate			Consolidated
Revenues:
Hotel operating revenues	$	1,494,283	$	—	$	—		$	1,494,283
Rental income	21,827		223,716		—			245,543
FF&E reserve income	3,911		—		—			3,911
Total revenues	1,520,021		223,716		—			1,743,737
Expenses:
Hotel operating expenses	1,052,121		—		—			1,052,121
Other operating expenses	1,231		2,705		—			3,936
Depreciation and amortization	189,814		110,494		—			300,308
General and administrative	—		—		38,280			38,280
Total expenses	1,243,166		113,199		38,280			1,394,645
Dividend income	—		—		1,878			1,878
Unrealized gains and losses on equity securities, net	—		—		89,348			89,348
Interest income	717		—		376			1,093
Interest expense	—		—		(145,589		)	(145,589		)
Loss on early extinguishment of debt	—		—		(160		)	(160		)
Income (loss) before income taxes and equity in earnings of an investee	277,572		110,517		(92,427		)	295,662
Income tax expense	—		—		(1,949		)	(1,949		)
Equity in earnings of an investee	—		—		881			881
Net income (loss)	$	277,572	$	110,517	$	(93,495	)	$	294,594
	As of December 31, 2018
	Hotels		Net Lease		Corporate			Consolidated
Total assets	$	4,586,709	$	2,398,118	$	192,252		$	7,177,079