XML 55 R32.htm IDEA: XBRL DOCUMENT v3.22.0.1
Segment Information (Tables)
12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Schedule of segment information
For the Year Ended December 31, 2021
HotelsNet LeaseCorporateConsolidated
Revenues:
Hotel operating revenues$1,104,678 $— $— $1,104,678 
Rental income1,808 389,094 — 390,902 
Total revenues1,106,486 389,094 — 1,495,580 
Expenses:
Hotel operating expenses1,010,737 — — 1,010,737 
Other operating expenses— 15,658 15,658 
Depreciation and amortization266,641 219,324 — 485,965 
General and administrative— — 53,439 53,439 
Transaction related costs64,764 — — 64,764 
Loss on asset impairment60,980 17,640 — 78,620 
Total expenses1,403,122 252,622 53,439 1,709,183 
Gain on sale of real estate, net9,558 1,964 — 11,522 
Unrealized gains on equity securities— — 22,535 22,535 
Interest income— 663 664 
Interest expense— — (365,721)(365,721)
Income (loss) before income taxes and equity in losses of an investee(287,077)138,436 (395,962)(544,603)
Income tax benefit— — 941 941 
Equity in losses of an investee— — (941)(941)
Net income (loss)$(287,077)$138,436 $(395,962)$(544,603)
As of December 31, 2021
HotelsNet LeaseCorporateConsolidated
Total assets4,487,101 3,580,095 1,086,119 9,153,315 
For the Year Ended December 31, 2020
HotelsNet LeaseCorporateConsolidated
Revenues:
Hotel operating revenues$875,098 $— $— $875,098 
Rental income2,472 387,684 — 390,156 
Total revenues877,570 387,684 — 1,265,254 
Expenses:
Hotel operating expenses682,804 — — 682,804 
Other operating expenses— 15,208 — 15,208 
Depreciation and amortization263,673 235,235 — 498,908 
General and administrative— — 50,668 50,668 
Transaction related costs15,100 — — 15,100 
Loss on asset impairment17,131 38,625 — 55,756 
Total expenses978,708 289,068 50,668 1,318,444 
Gain on sale of real estate, net14,927 (12,666)— 2,261 
Gain on insurance settlement62,386 — — 62,386 
Unrealized losses on equity securities, net— — 19,882 19,882 
Interest income— 278 284 
Interest expense— — (306,490)(306,490)
Loss on early extinguishment of debt— — (9,394)(9,394)
Income (loss) before income taxes and equity in earnings of an investee
(23,819)85,950 (346,392)(284,261)
Income tax expense— — (17,211)(17,211)
Equity in earnings of an investee— — (9,910)(9,910)
Net income (loss)$(23,819)$85,950 $(373,513)$(311,382)
As of December 31, 2020
HotelsNet LeaseCorporateConsolidated
Total assets$4,846,410 $3,721,418 $119,491 $8,687,319 
For the Year Ended December 31, 2019
HotelsNet LeaseCorporateConsolidated
Revenues:
Hotel operating revenues$1,989,173 $— $— $1,989,173 
Rental income25,724 301,251 — 326,975 
Total revenues2,014,897 301,251 — 2,316,148 
Expenses:
Hotel operating expenses1,410,927 — — 1,410,927 
Other operating expenses— 8,357 — 8,357 
Depreciation and amortization268,088 160,360 — 428,448 
General and administrative— — 54,639 54,639 
Transaction related costs— — 1,795 1,795 
Loss on asset impairment28,371 10,925 — 39,296 
Total expenses1,707,386 179,642 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, net— — (40,461)(40,461)
Interest income795 — 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
HotelsNet LeaseCorporateConsolidated
Total assets$4,866,549 $4,042,831 $124,587 $9,033,967