Segment Information

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segment Information

Note 12. 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, 2022
	Hotels		Net Lease		Corporate		Consolidated
Revenues:
Hotel operating revenues	$	297,406	$	—	$	—	$	297,406
Rental income	—		96,358		—		96,358
Total revenues	297,406		96,358		—		393,764
Expenses:
Hotel operating expenses	290,343		—		—		290,343
Other operating expenses	—		2,269		—		2,269
Depreciation and amortization	56,162		47,951		—		104,113
General and administrative	—		—		11,989		11,989
Transaction related costs	—		—		1,177		1,177
Loss on asset impairment	5,568		(68)		—		5,500
Total expenses	352,073		50,152		13,166		415,391
Gain on sale of real estate, net	4,990		558		—		5,548
Unrealized loss on equity securities, net	—		—		(10,260)		(10,260)
Interest income	—		—		273		273
Interest expense	—		—		(92,344)		(92,344)
Income (loss) before income taxes and equity in earnings of an investee	(49,677)		46,764		(115,497)		(118,410)
Income tax expense	—		—		(695)		(695)
Equity in losses of an investee	—		—		(717)		(717)
Net income (loss)	$	(49,677)	$	46,764	$	(116,909)	$	(119,822)
	As of March 31, 2022
	Hotels		Net Lease		Corporate		Consolidated
Total assets	$	4,391,689	$	3,522,573	$	1,102,810	$	9,017,072

	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	195,352		—		—			195,352
Other operating expenses	—		3,417		—			3,417
Depreciation and amortization	68,124		56,244		—			124,368
General and administrative	—		—		12,657			12,657
Transition related costs	19,635		—		—			19,635
Loss on asset impairment	—		1,211		—			1,211
Total expenses	283,111		60,872		12,657			356,640
Loss on sale of real estate, net	—		(9)		—			(9)
Unrealized loss on equity securities, net	—		—		(6,481)			(6,481)
Interest income	—		—		57			57
Interest expense	—		—		(89,391)			(89,391)
Income (loss) before income taxes and equity in losses 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 December 31, 2021
	Hotels		Net Lease		Corporate			Consolidated
Total assets	$	4,487,101	$	3,580,095	$	1,086,119	`	$	9,153,315