Segment Information

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Segment Information

Note 11. Segment Information

We aggregate our hotels and net lease portfolio into two reportable segments, hotel investments and net lease investments, based on their similar operating and economic characteristics.

	For the Three Months Ended March 31, 2021
	Hotels		Net Lease		Corporate		Consolidated
Revenues:
Hotel operating revenues	$	168,953	$	—	$	—	$	168,953
Rental income	496		91,721		—		92,217
Total revenues	169,449		91,721		—		261,170
Expenses:
Hotel operating expenses	214,987		—		—		214,987
Other operating expenses	—		3,417		—		3,417
Depreciation and amortization	68,124		56,244		—		124,368
General and administrative	—		—		12,657		12,657
Loss on asset impairment	—		1,211		—		1,211
Total expenses	283,111		60,872		12,657		356,640
Loss on sale of real estate	—		(9)		—		(9)
Unrealized losses on equity securities	—		—		(6,481)		(6,481)
Interest income	—		—		57		57
Interest expense	—		—		(89,391)		(89,391)
Income (loss) before income taxes and equity in earnings of an investee	(113,662)		30,840		(108,472)		(191,294)
Income tax expense	—		—		(853)		(853)
Equity in losses of an investee	—		—		(2,843)		(2,843)
Net income (loss)	$	(113,662)	$	30,840	$	(112,168)	$	(194,990)
	As of March 31, 2021
	Hotels		Net Lease		Corporate		Consolidated
Total assets	$	4,832,229	$	3,766,306	$	915,980	$	9,514,515

	For the Three Months Ended March 31, 2020
	Hotels		Net Lease		Corporate		Consolidated
Revenues:
Hotel operating revenues	$	383,503	$	—	$	—	$	383,503
Rental income	1,008		99,265		—		100,273
Total revenues	384,511		99,265		—		483,776
Expenses:
Hotel operating expenses	271,148		—		—		271,148
Other operating expenses	—		3,759		—		3,759
Depreciation and amortization	67,669		60,257		—		127,926
General and administrative	—		—		14,024		14,024
Loss on asset impairment	—		16,740		—		16,740
Total expenses	338,817		80,756		14,024		433,597
Gain on sale of real estate	—		(6,911)		—		(6,911)
Unrealized losses on equity securities	—		—		(5,045)		(5,045)
Interest income	147		—		115		262
Interest expense	—		—		(71,075)		(71,075)
Income (loss) before income taxes and equity in earnings of an investee	45,841		11,598		(90,029)		(32,590)
Income tax expense	—		—		(342)		(342)
Equity in losses of an investee	—		—		(718)		(718)
Net income (loss)	$	45,841	$	11,598	$	(91,089)	$	(33,650)
	As of December 31, 2020
	Hotels		Net Lease		Corporate		Consolidated
Total assets	$	4,846,410	$	3,721,418	$	119,491	$	8,687,319