XML 70 R50.htm IDEA: XBRL DOCUMENT v3.20.2
Segment Information (Details)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
USD ($)
Jun. 30, 2020
USD ($)
Mar. 31, 2020
USD ($)
Sep. 30, 2019
USD ($)
Jun. 30, 2019
USD ($)
Mar. 31, 2019
USD ($)
Sep. 30, 2020
USD ($)
segment
Sep. 30, 2019
USD ($)
Dec. 31, 2019
USD ($)
Segment Information                  
Number of reportable segments | segment             2    
Revenues:                  
Hotel operating revenues $ 199,719     $ 525,290     $ 700,578 $ 1,521,368  
Rental income 96,776     73,619     294,432 210,509  
FF&E reserve income 0     863     201 3,365  
Total revenues 296,495     599,772     995,211 1,735,242  
Expenses:                  
Hotel operating expenses 174,801     377,895     492,906 1,076,011  
Other operating expenses 3,705     1,707     11,029 4,419  
Depreciation and amortization 122,204     103,160     377,557 301,721  
General and administrative 12,295     12,464     37,621 36,906  
Loss on asset impairment 10,248     0     55,502 0  
Total expenses 323,253     495,226     974,615 1,419,057  
Gain on sale of real estate 109     0     (9,655) 159,535  
Dividend income 0     0     0 1,752  
Gain on insurance settlement 0     0     62,386 0  
Unrealized gains (losses) on equity securities, net 5,606     (3,950)     4,409 (43,761)  
Interest income 6     688     283 1,774  
Interest expense  (80,532)     (52,375)     (223,679) (151,742)  
Loss on early extinguishment of debt 0     (8,451)     (6,970) (8,451)  
Income (loss) before income taxes and equity in earnings of an investee (101,569)     40,458     (152,630) 275,292  
Income tax (expense) benefit 296     (467)     (16,706) (1,266)  
Equity in earnings (losses) of an investee (1,369)     83     (4,305) 617  
Net income (loss) (102,642) $ (37,349) $ (33,650) 40,074 $ 8,782 $ 225,787 (173,641) 274,643  
Total assets 8,796,673           8,796,673   $ 9,033,967
Corporate                  
Revenues:                  
Hotel operating revenues 0     0     0 0  
Rental income 0     0     0 0  
FF&E reserve income       0     0 0  
Total revenues 0     0     0 0  
Expenses:                  
Hotel operating expenses 0     0     0 0  
Other operating expenses 0     0     0 0  
Depreciation and amortization 0     0     0 0  
General and administrative 12,295     12,464     37,621 36,906  
Loss on asset impairment 0           0    
Total expenses 12,295     12,464     37,621 36,906  
Gain on sale of real estate 0           0 0  
Dividend income               1,752  
Gain on insurance settlement 0           0    
Unrealized gains (losses) on equity securities, net 5,606     (3,950)     4,409 (43,761)  
Interest income 0     511     115 1,171  
Interest expense  (80,532)     (52,375)     (223,679) (151,742)  
Loss on early extinguishment of debt       (8,451)     (6,970) (8,451)  
Income (loss) before income taxes and equity in earnings of an investee (87,221)     (76,729)     (263,746) (237,937)  
Income tax (expense) benefit 296     (467)     (16,706) (1,266)  
Equity in earnings (losses) of an investee (1,369)     83     (4,305) 617  
Net income (loss) (88,294)     (77,113)     (284,757) (238,586)  
Total assets 91,004           91,004   124,587
Hotels | Operating segments                  
Revenues:                  
Hotel operating revenues 199,719     525,290     700,578 1,521,368  
Rental income 674     5,565     3,045 16,700  
FF&E reserve income       863     201 3,365  
Total revenues 200,393     531,718     703,824 1,541,433  
Expenses:                  
Hotel operating expenses 174,801     377,895     492,906 1,076,011  
Other operating expenses 0     369     0 1,101  
Depreciation and amortization 64,517     66,929     199,955 200,533  
General and administrative 0     0     0 0  
Loss on asset impairment 262           22,622    
Total expenses 239,580     445,193     715,483 1,277,645  
Gain on sale of real estate 0           0 0  
Dividend income               0  
Gain on insurance settlement 0           62,386    
Unrealized gains (losses) on equity securities, net 0     0     0 0  
Interest income 6     177     168 603  
Interest expense  0     0     0 0  
Loss on early extinguishment of debt       0     0 0  
Income (loss) before income taxes and equity in earnings of an investee (39,181)     86,702     50,895 264,391  
Income tax (expense) benefit 0     0     0 0  
Equity in earnings (losses) of an investee 0     0     0 0  
Net income (loss) (39,181)     86,702     50,895 264,391  
Total assets 4,900,990           4,900,990   4,866,549
Net Lease | Operating segments                  
Revenues:                  
Hotel operating revenues 0     0     0 0  
Rental income 96,102     68,054     291,387 193,809  
FF&E reserve income       0     0 0  
Total revenues 96,102     68,054     291,387 193,809  
Expenses:                  
Hotel operating expenses 0     0     0 0  
Other operating expenses 3,705     1,338     11,029 3,318  
Depreciation and amortization 57,687     36,231     177,602 101,188  
General and administrative 0     0     0 0  
Loss on asset impairment 9,986           32,880    
Total expenses 71,378     37,569     221,511 104,506  
Gain on sale of real estate 109           (9,655) 159,535  
Dividend income               0  
Gain on insurance settlement 0           0    
Unrealized gains (losses) on equity securities, net 0     0     0 0  
Interest income 0     0     0 0  
Interest expense  0     0     0 0  
Loss on early extinguishment of debt       0     0 0  
Income (loss) before income taxes and equity in earnings of an investee 24,833     30,485     60,221 248,838  
Income tax (expense) benefit 0     0     0 0  
Equity in earnings (losses) of an investee 0     0     0 0  
Net income (loss) 24,833     $ 30,485     60,221 $ 248,838  
Total assets $ 3,804,679           $ 3,804,679   $ 4,042,831