Segment Information

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segment Information

Note 13. Segment Information

We aggregate our hotels and net lease portfolio into two reportable segments, hotel investments and net lease investments (previously named travel centers), based on their similar operating and economic characteristics.

	For the Year Ended December 31, 2019
	Hotels		Net Lease		Corporate			Consolidated
Hotel operating revenues	$	1,989,173	$	—	$	—		$	1,989,173
Rental income	20,985		301,251		—			322,236
FF&E reserve income	4,739		—		—			4,739
Total revenues	2,014,897		301,251		—			2,316,148
Hotel operating expenses	1,410,927		—		—			1,410,927
Other operating expenses	—		8,357		—			8,357
Depreciation and amortization	268,088		160,360		—			428,448
General and administrative	—		—		54,639			54,639
Acquisition and other transaction related costs	—		—		1,795			1,795
Loss on asset impairment	28,371		10,925		—			39,296
Total expenses	1,707,386		179,642		56,434			1,943,462
Gain on sale of real estate	—		159,535		—			159,535
Dividend income	—		—		1,752			1,752
Unrealized losses on equity securities	—		—		(40,461		)	(40,461		)
Interest income	795		—		1,420			2,215
Interest expense	—		—		(225,126		)	(225,126		)
Loss on early extinguishment of debt	—		—		(8,451		)	(8,451		)
Income (loss) before income taxes and equity in earnings of an investee	308,306		281,144		(327,300		)	262,150
Income tax expense	—		—		(2,793		)	(2,793		)
Equity in earnings of an investee	—		—		393			393
Net income (loss)	$	308,306	$	281,144	$	(329,700	)	$	259,750

	As of December 31, 2019
	Hotels		Net Lease		Corporate		Consolidated
Total assets	$	4,866,549	$	4,042,831	$	124,587	$	9,033,967

	For the Year Ended December 31, 2018
	Hotels		Net Lease		Corporate			Consolidated
Hotel operating revenues	$	1,958,598	$	—	$	—		$	1,958,598
Rental income	28,644		302,162		—			330,806
FF&E reserve income	5,132		—		—			5,132
Total revenues	1,992,374		302,162		—			2,294,536
Hotel operating expenses	1,387,065		—		—			1,387,065
Other operating expenses	—		5,290		—			5,290
Depreciation and amortization	255,759		147,318		—			403,077
General and administrative	—		—		104,862			104,862
Acquisition and other transaction related costs	—		—		—			—
Loss on asset impairment	—		—		—			—
Total expenses	1,642,824		152,608		104,862			1,900,294
Dividend income	—		—		2,754			2,754
Unrealized losses on equity securities	—		—		(16,737		)	(16,737		)
Interest income	990		—		538			1,528
Interest expense	—		—		(195,213		)	(195,213		)
Loss on early extinguishment of debt	—		—		(160		)	(160		)
Income (loss) before income taxes and equity in earnings of an investee	350,540		149,554		(313,680		)	186,414
Income tax expense	—		—		(1,195		)	(1,195		)
Equity in earnings of an investee	—		—		515			515
Net income (loss)	$	350,540	$	149,554	$	(314,360	)	$	185,734

	As of December 31, 2018
	Hotels		Net Lease		Corporate		Consolidated
Total assets	$	4,586,709	$	2,398,118	$	192,252	$	7,177,079

	For the Year Ended December 31, 2017
	Hotels		Net Lease		Corporate			Consolidated
Hotel operating revenues	$	1,840,829	$	—	$	—		$	1,840,829
Rental income	33,162		293,274		—			326,436
FF&E reserve income	4,670		—		—			4,670
Total revenues	1,878,661		293,274		—			2,171,935
Hotel operating expenses	1,274,642		—		—			1,274,642
Other operating expenses	—		4,905		—			4,905
Depreciation and amortization	242,829		143,830		—			386,659
General and administrative	—		—		125,402			125,402
Total expenses	1,517,471		148,735		125,402			1,791,608
Gain on sale of real estate	—		—		9,348			9,348
Dividend income	—		—		2,504			2,504
Interest income	401		—		397			798
Interest expense	—		—		(181,579		)	(181,579		)
Loss on early extinguishment of debt	—		—		(146		)	(146		)
Income (loss) before income taxes and equity in earnings of an investee	361,591		144,539		(294,878		)	211,252
Income tax benefit	—		—		3,284			3,284
Equity in earnings of an investee	—		—		607			607
Net income (loss)	$	361,591	$	144,539	$	(290,987	)	$	215,143

	As of December 31, 2017
	Hotels		Net Lease		Corporate		Consolidated
Total assets	$	4,477,512	$	2,476,073	$	196,800	$	7,150,385