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Fair Value of Assets and Liabilities (Tables)
 12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of certain of the entity's assets carried at fair value, categorized by the level of inputs used in the valuation of each asset
The table below presents certain of our assets carried at fair value at December 31, 2022, categorized by the level of inputs, as defined in the fair values hierarchy under GAAP, used in the valuation of each asset.
As of December 31, 2022As of December 31, 2021
Carrying ValueFair ValueCarrying ValueFair Value
Investment in TA (Level 1) (1)
$53,055 $53,055 $61,159 $61,159 
Assets of properties held for sale (Level 3) (2)
$111,592 $111,592 $515,518 $515,518 

(1)As of both December 31, 2022 and 2021, we owned 1,184,797 shares of TA common stock, which are included in other assets in our consolidated balance sheets and reported at fair value based on quoted market prices (Level 1 inputs). See Note 6 for further information regarding our investment in TA common stock.
(2)As of December 31, 2022, we owned 18 hotels with 2,526 rooms with an aggregate carrying value of $110,215 classified as held for sale and four net lease properties lease properties with 9,667 square feet with an aggregate carrying value of $1,377 classified as held for sale. These properties are recorded at their estimated then fair value less costs to sell based on information derived from third party appraisals (Level 3 inputs as defined in the fair value hierarchy under GAAP). We recorded a $10,989 loss on asset impairment in 2022 to reduce the carrying value of certain of these properties to their estimated fair value less costs to sell. As of December 31, 2021, we owned 67 hotels with 8,667 rooms with an aggregate carrying value of $503,078 and 22 net lease properties with 154,206 square feet with an aggregate carrying value of $12,440 classified as held for sale. These properties are recorded at their then estimated fair value less costs to sell based on information derived from third party appraisals (Level 3 inputs as defined in the fair value hierarchy under GAAP). We recorded a $78,620 loss on asset impairment in 2021 to reduce the carrying value of these properties to their estimated fair value less costs to sell.
Schedule of fair value of additional financial instruments At December 31, 2022 and 2021, the fair values of these additional financial instruments approximated their carrying values in our consolidated balance sheets due to their short term nature or floating interest rates, except as follows:
December 31, 2022December 31, 2021
CarryingFairCarryingFair
Amount (1)
Value
Amount (1)
Value
Senior Unsecured Notes, due 2022 at 5.00%
$— $— $499,244 $501,033 
Senior Unsecured Notes, due 2023 at 4.50%
499,925 491,345 499,761 505,378 
Senior Unsecured Notes, due 2024 at 4.65%
349,510 334,292 349,105 347,039 
Senior Unsecured Notes, due 2024 at 4.35%
348,493 749,983 821,017 821,184 
Senior Unsecured Notes, due 2025 at 4.50%
346,472 301,893 347,806 342,493 
Senior Unsecured Notes, due 2025 at 7.50%
396,916 762,344 791,340 867,712 
Senior Unsecured Notes, due 2026 at 5.25%
394,206 292,282 345,342 348,537 
Senior Unsecured Notes, due 2026 at 4.75%
391,923 354,128 447,126 439,889 
Senior Unsecured Notes, due 2027 at 4.95%
822,487 315,040 396,160 395,862 
Senior Unsecured Notes, due 2027 at 5.50%
447,736 387,522 443,383 461,522 
Senior Unsecured Notes, due 2028 at 3.95%
419,684 283,996 393,057 370,562 
Senior Unsecured Notes, due 2029 at 4.95%
793,673 293,718 418,895 407,448 
Senior Unsecured Notes, due 2030 at 4.375%
444,505 264,280 390,786 370,836 
Total financial liabilities$5,655,530 $4,830,823 $6,143,022 $6,179,495 
(1)Carrying value includes unamortized discounts and premiums and certain debt issuance costs.