Chatham Lodging Trust (CLDT) 10-Q 4 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Nov. 04, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-34693
Entity Registrant Name	CHATHAM LODGING TRUST
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	27-1200777
Entity Address, Address Line One	222 Lakeview Avenue, Suite 200
Entity Address, City or Town	West Palm Beach
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33401
City Area Code	561
Local Phone Number	802-4477
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Smaller Reporting Company	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		48,768,181
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Central Index Key	0001476045
Current Fiscal Year End Date	--12-31
Common Shares
Document Information [Line Items]
Title of 12(b) Security	Common Shares of Beneficial Interest, $0.01 par value
Trading Symbol	CLDT
Security Exchange Name	NYSE
Series A Preferred Shares
Document Information [Line Items]
Title of 12(b) Security	6.625% Series A Cumulative Redeemable Preferred Shares
Trading Symbol	CLDT-PA
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets:
Investment in hotel properties, net	$ 1,299,296	$ 1,265,174
Investment in hotel properties under development	64,168	43,651
Cash and cash equivalents	18,580	21,124
Restricted cash	10,986	10,329
Right of use asset, net	20,151	20,641
Hotel receivables (net of allowance for doubtful accounts of $393 and $248, respectively)	3,235	1,688
Deferred costs, net	4,413	5,384
Prepaid expenses and other assets	5,138	2,266
Total assets	1,425,967	1,370,257
Liabilities and Equity:
Mortgage debt, net	441,414	460,145
Revolving credit facility	70,000	135,300
Construction loan	32,283	13,325
Accounts payable and accrued expenses	30,772	25,374
Distributions and losses in excess of investments in unconsolidated real estate entities	0	19,951
Lease liability, net	22,836	23,233
Distributions payable	2,134	469
Total liabilities	599,439	677,797
Commitments and contingencies (Note 15)
Shareholders’ Equity:
Preferred shares, $0.01 par value, 100,000,000 shares authorized; 4,800,000 and 0 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively	48	0
Common shares, $0.01 par value, 500,000,000 shares authorized; 48,767,816 and 46,973,473 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively	487	470
Additional paid-in capital	1,048,059	906,000
Accumulated deficit	(237,927)	(228,718)
Total shareholders’ equity	810,667	677,752
Noncontrolling Interests:
Noncontrolling interest in Operating Partnership	15,861	14,708
Total equity	826,528	692,460
Total liabilities and equity	$ 1,425,967	$ 1,370,257

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Allowance for doubtful accounts related to receivables	$ 393	$ 248
Preferred shares, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred shares, shares authorized (in shares)	100,000,000	100,000,000
Preferred shares, shares issued (in shares)	4,800,000	0
Preferred shares, shares outstanding (in shares)	4,800,000	0
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, shares authorized (in shares)	500,000,000	500,000,000
Common shares, shares issued (in shares)	48,767,816	46,973,473
Common shares, shares outstanding (in shares)	48,767,816	46,973,473

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Total revenue	$ 64,295,000	$ 34,969,000	$ 146,653,000	$ 115,351,000
Total hotel operating expenses	35,377,000	21,869,000	85,743,000	73,948,000
Depreciation and amortization	13,668,000	13,620,000	40,355,000	40,349,000
Impairment loss on investment in unconsolidated real estate entities	0	0	0	15,282,000
Property taxes, ground rent and insurance	6,114,000	6,171,000	17,947,000	18,161,000
General and administrative	4,147,000	2,958,000	11,993,000	8,210,000
Other charges	256,000	(199,000)	633,000	2,785,000
Reimbursable costs from unconsolidated entities	286,000	795,000	1,400,000	3,169,000
Total operating expenses	59,848,000	45,214,000	158,071,000	161,904,000
Operating income (loss) before (loss) gain on sale of hotel property	4,447,000	(10,245,000)	(11,418,000)	(46,553,000)
(Loss) gain on sale of hotel property	(7,000)	0	(21,000)	3,000
Operating income (loss)	4,440,000	(10,245,000)	(11,439,000)	(46,550,000)
Interest and other income	0	25,000	103,000	145,000
Interest expense, including amortization of deferred fees	(5,823,000)	(7,245,000)	(18,649,000)	(21,112,000)
Loss from unconsolidated real estate entities	0	(847,000)	(1,231,000)	(6,099,000)
Gain on sale of investment in unconsolidated real estate entities	0	0	23,817,000	0
Loss before income tax expense	(1,383,000)	(18,312,000)	(7,399,000)	(73,616,000)
Income tax expense	0	0	0	0
Net loss	(1,383,000)	(18,312,000)	(7,399,000)	(73,616,000)
Net loss attributable to noncontrolling interests	64,000	255,000	178,000	949,000
Net loss attributable to common shareholders	(1,319,000)	(18,057,000)	(7,221,000)	(72,667,000)
Preferred dividends	(1,988,000)	0	(1,988,000)	0
Net loss attributable to common shareholders	$ (3,307,000)	$ (18,057,000)	$ (9,209,000)	$ (72,667,000)
Loss per Common Share - Basic:
Net loss attributable to common shareholders (in dollars per share)	$ (0.07)	$ (0.38)	$ (0.19)	$ (1.55)
Loss per Common Share - Diluted:
Net loss attributable to common shareholders (in dollars per share)	$ (0.07)	$ (0.38)	$ (0.19)	$ (1.55)
Weighted average number of common shares outstanding:
Basic (in shares)	48,755,561	46,965,526	48,211,612	46,958,143
Diluted (in shares)	48,755,561	46,965,526	48,211,612	46,958,143
Distributions declared per common share (in dollars per share)	$ 0	$ 0	$ 0	$ 0.22
Room
Total revenue	$ 59,305,000	$ 32,307,000	$ 135,210,000	$ 104,205,000
Total hotel operating expenses	11,884,000	6,903,000	28,537,000	24,814,000
Food and beverage
Total revenue	1,025,000	237,000	2,145,000	2,417,000
Total hotel operating expenses	717,000	184,000	1,493,000	2,202,000
Other
Total revenue	3,679,000	1,630,000	7,898,000	5,560,000
Reimbursable costs from unconsolidated entities
Total revenue	286,000	795,000	1,400,000	3,169,000
Telephone
Total hotel operating expenses	366,000	344,000	1,114,000	1,073,000
Other hotel operating
Total hotel operating expenses	743,000	312,000	1,652,000	1,303,000
General and administrative
Total hotel operating expenses	6,082,000	3,907,000	14,950,000	12,543,000
Franchise and marketing fees
Total hotel operating expenses	5,294,000	2,876,000	11,983,000	9,232,000
Advertising and promotions
Total hotel operating expenses	1,078,000	848,000	2,670,000	3,212,000
Utilities
Total hotel operating expenses	3,059,000	2,592,000	7,698,000	6,971,000
Repairs and maintenance
Total hotel operating expenses	3,253,000	2,250,000	8,433,000	7,352,000
Management fees
Total hotel operating expenses	2,185,000	1,292,000	5,141,000	4,164,000
Insurance
Total hotel operating expenses	$ 716,000	$ 361,000	$ 2,072,000	$ 1,082,000

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Preferred Shares	Common Shares	Total Shareholders’ Equity	Total Shareholders’ EquityPreferred Shares	Total Shareholders’ EquityCommon Shares	Preferred Shares	Preferred SharesPreferred Shares	Common Shares	Common SharesCommon Shares	Additional Paid - In Capital	Additional Paid - In CapitalPreferred Shares	Additional Paid - In CapitalCommon Shares	Retained earnings (distributions in excess of retained earnings)	Noncontrolling Interest in Operating Partnership
Beginning Balance (in shares) at Dec. 31, 2019							0		46,928,445
Beginning Balance at Dec. 31, 2019	$ 775,024			$ 762,377			$ 0		$ 469		$ 904,273			$ (142,365)	$ 12,647
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares pursuant to Equity Incentive Plan (in shares)									24,516
Issuance of shares pursuant to Equity Incentive Plan	450			450							450
Issuance of shares, net of offering costs (in shares)										18,664
Issuance of shares, net of offering costs			$ 163			$ 163				$ 1			$ 162
Amortization of share based compensation	3,424			22							22				3,402
Dividends declared on common shares	(10,331)			(10,331)										(10,331)
Distributions declared on LTIP units	(233)														(233)
Reallocation of noncontrolling interest	0			1,114							1,114				(1,114)
Net loss	(73,616)			(72,667)										(72,667)	(949)
Ending Balance (in shares) at Sep. 30, 2020							0		46,971,625
Ending Balance at Sep. 30, 2020	694,881			681,128			$ 0		$ 470		906,021			(225,363)	13,753
Beginning Balance (in shares) at Jun. 30, 2020							0		46,965,827
Beginning Balance at Jun. 30, 2020	712,144			699,141			$ 0		$ 470		905,977			(207,306)	13,003
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares, net of offering costs (in shares)										5,798
Issuance of shares, net of offering costs			37			37							37
Amortization of share based compensation	1,012			7							7				1,005
Net loss	(18,312)			(18,057)										(18,057)	(255)
Ending Balance (in shares) at Sep. 30, 2020							0		46,971,625
Ending Balance at Sep. 30, 2020	694,881			681,128			$ 0		$ 470		906,021			(225,363)	13,753
Beginning Balance (in shares) at Dec. 31, 2020							0		46,973,473
Beginning Balance at Dec. 31, 2020	692,460			677,752			$ 0		$ 470		906,000			(228,718)	14,708
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares pursuant to Equity Incentive Plan (in shares)									50,203
Issuance of shares pursuant to Equity Incentive Plan	450			450							450
Issuance of shares, net of offering costs (in shares)								4,800,000		1,744,140
Issuance of shares, net of offering costs		$ 115,957	23,775		$ 115,957	23,775		$ 48		$ 17		$ 115,909	23,758
Amortization of share based compensation	3,233			27							27				3,206
Forfeited distributions declared on LTIP units	40														40
Reallocation of noncontrolling interest	0			1,915							1,915				(1,915)
Dividends accrued on preferred shares	(1,988)			(1,988)										(1,988)
Net loss	(7,399)			(7,221)										(7,221)	(178)
Ending Balance (in shares) at Sep. 30, 2021							4,800,000		48,767,816
Ending Balance at Sep. 30, 2021	826,528			810,667			$ 48		$ 487		1,048,059			(237,927)	15,861
Beginning Balance (in shares) at Jun. 30, 2021							4,800,000		48,756,555
Beginning Balance at Jun. 30, 2021	829,059			814,221			$ 48		$ 487		1,048,306			(234,620)	14,838
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares pursuant to Equity Incentive Plan (in shares)									10,000
Issuance of shares pursuant to Equity Incentive Plan	0
Issuance of shares, net of offering costs (in shares)										1,261
Issuance of shares, net of offering costs		$ (263)	$ 3		$ (263)	$ 3						$ (263)	$ 3
Amortization of share based compensation	1,100			13							13				1,087
Dividends accrued on preferred shares	(1,988)			(1,988)										(1,988)
Net loss	(1,383)			(1,319)										(1,319)	(64)
Ending Balance (in shares) at Sep. 30, 2021							4,800,000		48,767,816
Ending Balance at Sep. 30, 2021	$ 826,528			$ 810,667			$ 48		$ 487		$ 1,048,059			$ (237,927)	$ 15,861

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Distributions declared per common share (in dollars per share)	$ 0	$ 0	$ 0	$ 0.22
LTIP units, distributions per unit (in dollars per share)				$ 0.22
Preferred Shares
Issuance of shares, net of offering costs	$ 263,000		$ 4,043,000
Common Shares
Issuance of shares, net of offering costs	$ 12,000	$ 0	$ 822,000	$ 3,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net loss	$ (7,399)	$ (73,616)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	40,172	40,165
Amortization of deferred franchise fees	183	184
Amortization of deferred financing fees included in interest expense	1,444	866
Loss on sale of hotel property	21	0
Gain on sale of investment in unconsolidated real estate entities	(23,817)	0
Impairment loss on investment in unconsolidated real estate entities	0	15,282
Share based compensation	3,585	3,473
Accelerated share based compensation for employee severance	0	288
Loss from unconsolidated real estate entities	1,231	6,099
Changes in assets and liabilities:
Right of use asset	490	469
Hotel receivables	(1,547)	2,401
Deferred costs	(327)	(21)
Prepaid expenses and other assets	(2,872)	(1,415)
Accounts payable and accrued expenses	7,649	(6,569)
Lease liability	(397)	(356)
Net cash provided by (used in) operating activities	18,416	(12,750)
Cash flows from investing activities:
Improvements and additions to hotel properties	(5,224)	(13,907)
Acquisition of hotel properties	(71,335)	0
Investment in hotel properties under development	(20,517)	(13,223)
Proceeds from sale of unconsolidated real estate entity	2,800	0
Net cash used in investing activities	(94,276)	(27,130)
Cash flows from financing activities:
Borrowings on revolving credit facility	90,000	86,000
Repayments on revolving credit facility	(155,300)	(3,000)
Borrowings on construction loan	18,958	3,923
Payments on mortgage debt	(18,992)	(6,732)
Payment of financing costs	(144)	(2,004)
Proceeds from issuance of common shares	24,598	166
Proceeds from issuance of preferred shares	120,000	0
Distributions-common shares/units	(282)	(16,237)
Net cash provided by financing activities	73,973	62,113
Net change in cash, cash equivalents and restricted cash	(1,887)	22,233
Cash, cash equivalents and restricted cash, beginning of period	31,453	20,182
Cash, cash equivalents and restricted cash, end of period	29,566	42,415
Supplemental disclosure of cash flow information:
Cash paid for interest	19,507	20,968
Capitalized interest	2,508	951
Cash paid for income taxes	322	328
Common Shares
Cash flows from financing activities:
Payment of offering costs on common/preferred shares	(822)	(3)
Preferred Shares
Cash flows from financing activities:
Payment of offering costs on common/preferred shares	$ (4,043)	$ 0

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2020
Statement of Cash Flows [Abstract]
Accrued distributions payable	$ 2,134	$ 469
Accrued share based compensation	353	338
Accounts payable and accrued expenses	$ 2,271	$ 3,670

Organization

Organization	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Chatham Lodging Trust (“we,” “us” or the “Company”) was formed as a Maryland real estate investment trust (“REIT”) on October 26, 2009. The Company is internally-managed and invests primarily in upscale extended-stay and premium-branded select-service hotels. The Company has elected to be treated as a REIT for federal income tax purposes. The net proceeds from any share offerings or issuances are contributed to Chatham Lodging, L.P., our operating partnership (the “Operating Partnership”), in exchange for partnership interests. Substantially all of the Company’s assets are held by, and all operations are conducted through, the Operating Partnership. Chatham Lodging Trust is the sole general partner of the Operating Partnership and owns 100.0% of the common units of limited partnership interest in the Operating Partnership. Certain of the Company’s executive officers hold vested and unvested long-term incentive plan units in the Operating Partnership ("LTIP units"), which are presented as non-controlling interests on our consolidated balance sheets. As of September 30, 2021, the Company wholly owned 41 hotels with an aggregate of 6,169 rooms located in 15 states and the District of Columbia. Prior to September 23, 2021, the Company held a 10% noncontrolling interest in a joint venture (the "Inland JV") with affiliates of Colony Capital, Inc. ("CLNY"), which owned 48 hotels acquired from Inland American Real Estate Trust, Inc. ("Inland"), comprising an aggregate of 6,402 rooms. Chatham sold its interest in the Inland JV in September 2021. Prior to March 18, 2021, the Company also held a 10.3% noncontrolling interest in a joint venture (the “NewINK JV”) with affiliates of CLNY, which owned 46 hotels with an aggregate of 5,948 rooms. Chatham sold its interest in the NewINK JV in March 2021 for $2.8 million. We sometimes use the term "JVs", which refers collectively to the Inland JV and NewINK JV. To qualify as a REIT, the Company cannot operate the hotels. Therefore, the Operating Partnership and its subsidiaries lease the Company's wholly owned hotels to taxable REIT subsidiary lessees (“TRS Lessees”), which are wholly owned by the Company’s taxable REIT subsidiary (“TRS”) holding company. Each hotel is leased to a TRS Lessee under a percentage lease that provides for rental payments equal to the greater of (i) a fixed base rent amount or (ii) a percentage rent based on hotel revenue. The initial term of each of the TRS leases is 5 years. Lease revenue from each TRS Lessee is eliminated in consolidation. The TRS Lessees have entered into management agreements with third-party management companies that provide day-to-day management for the hotels. As of September 30, 2021, Island Hospitality Management LLC (“IHM”), which is 100% owned by Jeffrey H. Fisher, the Company's Chairman, President and Chief Executive Officer, managed all 41 of the Company’s wholly owned hotels.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited interim consolidated financial statements and related notes have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and in conformity with the rules and regulations of the Securities and Exchange Commission (“SEC”) applicable to interim financial information. These unaudited consolidated financial statements, in the opinion of management, include all adjustments consisting of normal, recurring adjustments which are considered necessary for a fair statement of the consolidated balance sheets, consolidated statements of operations, consolidated statements of equity, and consolidated statements of cash flows for the periods presented. Interim results are not necessarily indicative of full year performance due to seasonal and other factors, including the timing of the acquisition or sale of hotels. The consolidated financial statements include all of the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions are eliminated in consolidation. The accompanying unaudited consolidated financial statements should be read in conjunction with the audited financial statements prepared in accordance with GAAP, and the related notes thereto as of December 31, 2020, which are included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

Acquisition of Hotel Properties

Acquisition of Hotel Properties	9 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Acquisition of Hotel Properties	Acquisition of Hotel PropertiesOn August 3, 2021, the Company acquired both the Residence Inn Austin Northwest/The Domain Area ("RI Austin") hotel in Austin, TX for $37.0 million and the TownePlace Suites Austin Northwest/The Domain Area ("TPS Austin") hotel in Austin, TX for $34.3 million. The Company allocated the purchase price of each hotel acquired based on the estimated fair values of the assets on the date of acquisition. Property acquisition costs of $0.1 million were capitalized in 2021.

Disposition of Hotel Properties

Disposition of Hotel Properties	9 Months Ended
	Sep. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
Disposition of Hotel Properties	Disposition of Hotel PropertiesOn November 24, 2020, the Company sold the Residence Inn Mission Valley hotel in San Diego, CA for $67.0 million and recognized a gain on sale of the hotel property of $21.1 million. The balance of the mortgage loan of $26.7 million was repaid with proceeds from the sale. Additional proceeds were used to repay amounts outstanding on the Company's revolving credit facility. The sale did not represent a strategic shift that had or will have a major effect on the Company's operations and financial results and did not qualify to be reported as discontinued operations.

Allowance for Doubtful Accounts

Allowance for Doubtful Accounts	9 Months Ended
	Sep. 30, 2021
Receivables [Abstract]
Allowance for Doubtful Accounts	Allowance for Doubtful AccountsThe Company maintains an allowance for doubtful accounts at a level believed to be adequate to absorb estimated probable losses. That estimate is based on past loss experience, current economic and market conditions and other relevant factors. The allowance for doubtful accounts was $0.4 million and $0.2 million as of September 30, 2021 and December 31, 2020, respectively.

Investment in Hotel Properties

Investment in Hotel Properties	9 Months Ended
	Sep. 30, 2021
Investments, All Other Investments [Abstract]
Investment in Hotel Properties	Investment in Hotel Properties Investment in hotel properties,net Investment in hotel properties, net as of September 30, 2021 and December 31, 2020 consisted of the following (in thousands): September 30, 2021 December 31, 2020 Land and improvements $ 291,749 $ 287,049 Building and improvements 1,263,289 1,195,276 Furniture, fixtures and equipment 90,799 84,381 Renovations in progress 6,387 11,225 1,652,224 1,577,931 Less: accumulated depreciation (352,928) (312,757) Investment in hotel properties, net $ 1,299,296 $ 1,265,174 Investment in hotel properties under development We are developing a Home2 Suites by Hilton hotel in the Warner Center submarket of Los Angeles, CA on a parcel of land owned by us. We have incurre d $64.2 million of cost

Investment in Unconsolidated En

Investment in Unconsolidated Entities	9 Months Ended
	Sep. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Investment in Unconsolidated Entities	Investment in Unconsolidated Entities On June 9, 2014, the Company acquired a 10.3% interest in the NewINK JV, a joint venture between affiliates of NorthStar Realty Finance Corp. ("NorthStar") and the Operating Partnership. NorthStar merged with Colony Capital, Inc. ("Colony") on January 10, 2017 to form a new company, CLNY, which owned a 89.7% interest in the NewINK JV. Chatham sold its interest in the NewINK JV in March 2021 for $2.8 million which resulted in Chatham recording a gain on sale of investment in unconsolidated real estate entities of $23.8 million during the nine months ended September 30, 2021. The Company accounted for this investment under the equity method. On November 17, 2014, the Company acquired a 10.0% interest in the Inland JV, a joint venture between affiliates of NorthStar and the Operating Partnership. NorthStar merged with Colony on January 10, 2017 to form a new company, CLNY, which owned a 90% interest in the Inland JV. During the three months ended March 31, 2020, the Company determined that an other than temporary decline in the value of its equity investment in the Inland JV had occurred and recorded an impairment of $15.3 million which brought the Company's basis in the Inland JV to zero. Chatham sold its interest in the Inland JV for $0 in September 2021. The Company accounted for this investment under the equity method. The Company's recorded investments in the NewINK JV and the Inland JV were $0.0 million and $0.0 million, respectively, at September 30, 2021. The following table sets forth the combined components of net loss, including the Company’s share, related to all JVs for the three and nine months ended September 30, 2021 and 2020 (in thousands): For the three months ended For the nine months ended September 30, September 30, 2021 2020 2021 2020 Revenue $ — $ 63,509 $ 24,690 $ 192,276 Total hotel operating expenses — 53,636 24,106 165,588 Hotel operating income $ — $ 9,873 $ 584 $ 26,688 Impairment loss $ — $ 2,842 $ — $ 578,217 Loss from continuing operations $ — $ (26,637) $ (13,109) $ (671,644) Loss on sale of hotels — (6) — (20) Net loss $ — $ (26,643) $ (13,109) $ (671,664) Loss allocable to the Company $ — $ (982) $ (1,347) $ (6,960) Basis difference adjustment — 135 116 861 Total loss from unconsolidated real estate entities attributable to the Company $ — $ (847) $ (1,231) $ (6,099)

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt The Company’s mortgage loans are collateralized by first-mortgage liens on certain of the Company’s properties. The mortgage loans are non-recourse except for instances of fraud or misapplication of funds. Mortgage and revolving credit facility debt consisted of the following (dollars in thousands): Collateral Interest Rate Maturity Date 9/30/21 Property Carrying Value Balance Outstanding on Loan as of September 30, 2021 December 31, Revolving Credit Facility (1) 3.45 % March 8, 2022 $ 616,243 $ 70,000 $ 135,300 Construction loan (2) 7.75 % August 3, 2024 64,168 32,283 13,325 Residence Inn by Marriott New Rochelle, NY 5.75 % September 1, 2021 21,366 — 12,602 Homewood Suites by Hilton San Antonio, TX 4.59 % February 6, 2023 27,810 14,907 15,195 Residence Inn by Marriott Vienna, VA 4.49 % February 6, 2023 30,358 20,380 20,780 Courtyard by Marriott Houston, TX 4.19 % May 6, 2023 29,422 16,788 17,126 Hyatt Place Pittsburgh, PA 4.65 % July 6, 2023 32,972 20,647 21,031 Residence Inn by Marriott Bellevue, WA 4.97 % December 6, 2023 61,253 42,322 42,998 Residence Inn by Marriott Garden Grove, CA 4.79 % April 6, 2024 40,191 30,999 31,463 Residence Inn by Marriott Silicon Valley I, CA 4.64 % July 1, 2024 72,695 62,642 63,418 Residence Inn by Marriott Silicon Valley II, CA 4.64 % July 1, 2024 80,661 68,345 69,192 Residence Inn by Marriott San Mateo, CA 4.64 % July 1, 2024 60,542 46,981 47,564 Residence Inn by Marriott Mountain View, CA 4.64 % July 6, 2024 46,053 36,638 37,092 SpringHill Suites by Marriott Savannah, GA 4.62 % July 6, 2024 32,620 28,997 29,358 Hilton Garden Inn Marina del Rey, CA 4.68 % July 6, 2024 37,328 20,143 20,490 Homewood Suites by Hilton Billerica, MA 4.32 % December 6, 2024 12,393 15,190 15,411 Hampton Inn & Suites Houston Medical Center, TX 4.25 % January 6, 2025 15,281 17,145 17,396 Total debt before unamortized debt issue costs $ 1,281,356 $ 544,407 $ 609,741 Unamortized mortgage debt issue costs (710) (971) Total debt outstanding $ 543,697 $ 608,770 1. The interest rate for the revolving credit facility is variable and based on LIBOR (subject to a 0.5% floor) plus a spread of 2.5% if borrowings remain at or below $200 million and a spread of 3.0% if borrowings exceed $200 million. At September 30, 2021 and December 31, 2020, the Company had $70.0 million and $135.3 million, respectively, of outstanding borrowings under its $250.0 million revolving credit facility. The credit facility provides two six-month extension options that would extend the final maturity to March 8, 2023 if exercised. 2. On August 4, 2020, a subsidiary of Chatham entered into an agreement with affiliates of Mack Real Estate Credit Strategies to obtain a $40 million loan to fund the remaining construction costs of the Warner Center hotel development. The loan has an initial term of 4 years and there are two six-month extension options. The rate on the loan is LIBOR, subject to a 0.25% floor, plus a spread of 7.5%. The Company estimates the fair value of its fixed rate debt by discounting the future cash flows of each instrument at estimated market rates. All of the Company's mortgage loans are fixed-rate. Rates take into consideration general market conditions, quality and estimated value of collateral and maturity of debt with similar credit terms and are classified within level 3 of the fair value hierarchy. The estimated fair value of the Company’s fixed rate debt as of September 30, 2021 and December 31, 2020 was $450.7 million and $462.6 million, respectively. The Company estimates the fair value of its variable rate debt by taking into account general market conditions and the estimated credit terms it could obtain for debt with similar maturity and is classified within level 3 of the fair value hierarchy. As of September 30, 2021, the Company’s variable rate debt consisted of its revolving credit facility and construction loan. The estimated fair value of the Company’s variable rate debt as of September 30, 2021 and December 31, 2020 was $102.3 million and $148.6 million, respectively. On December 16, 2020, the Company, entered into a Third Amendment to the Company’s Amended and Restated Credit Agreement, dated as of March 8, 2018 (as amended by the Credit Agreement Amendment, and as previously amended by that certain First Amendment to the Amended and Restated Credit Agreement, dated as of May 6, 2020, and as further amended by that certain Second Amendment to Amended and Restated Credit Agreement, dated as of July 23, 2020), with certain lenders for whom Barclays Bank PLC is acting as the administrative agent. The amendment provides for the waiver of certain financial covenants through December 31, 2021 and allows the Company to borrow up to the entire $250.0 million facility size during this period. During this covenant waiver period, the Company will be required to maintain a minimum liquidity of $25.0 million which will include both unrestricted cash and credit facility availability. In connection with the amendment, the Company added 6 hotels to the credit facility’s borrowing base which now has a total of 24 properties. The amendment provided the Company’s credit facility lenders with pledges of the equity in the 24 borrowing base hotels. The amendment places additional limits on the Company’s ability to incur debt, pay dividends, and make capital expenditures during the covenant waiver period. During the covenant waiver period interest will be calculated as LIBOR (subject to a 0.5% floor) plus a spread of 2.50% if borrowings remain at or below $200.0 million and a spread of 3.0% if borrowings exceed $200.0 million. As of September 30, 2021, the Company was in compliance with all of its modified financial covenants. Our mortgage debt agreements contain “cash trap” provisions that are triggered when the hotel’s operating results fall below a certain debt service coverage ratio or debt yield. When these provisions are triggered, all of the excess cash flow generated by the hotel is deposited directly into cash management accounts for the benefit of our lenders until a specified debt service coverage ratio or debt yield is reached. Such provisions do not allow the lender the right to accelerate repayment of the underlying debt. As of September 30, 2021, the debt service coverage ratios or debt yields for all of our mortgage loans were below the minimum thresholds such that the cash trap provision of each respective loan could be enforced. As of September 30, 2021, none of our mortgage debt lenders has enforced cash trap provisions. We do not expect that such cash traps will affect our ability to satisfy our short-term liquidity requirements. Future scheduled principal payments of debt obligations as of September 30, 2021, for the current year and each of the next five calendar years and thereafter are as follows (in thousands): Amount 2021 (remaining three months) $ 2,450 2022 79,249 2023 117,876 2024 328,898 2025 15,934 Thereafter — Total debt before unamortized debt issue costs $ 544,407 Unamortized mortgage debt issue costs (710) Total debt outstanding $ 543,697 Accounting for Derivative Instruments The Company has entered into interest rate cap agreements to hedge against interest rate fluctuations related to the construction loan for the Warner Center hotel. The Company records its derivative instruments on the balance sheet at their estimated fair values. Changes in the fair value of the derivatives are recorded each period in current earnings or in other comprehensive income, depending on whether a derivative is designated as part of a hedging relationship and, if it is, depending on the type of hedging relationship. The Company's interest rate caps are not designated as a hedge but to eliminate the incremental cost to the Company if the one-month LIBOR were to exceed 3.5%. Accordingly, the interest rate caps are recorded on the balance sheet under prepaid expenses and other assets at the estimated fair value and realized and unrealized changes in the fair value are reported in the consolidated statement of operations. As of September 30, 2021, the fair value of the interest rate caps were $41 thousand.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s TRS is subject to federal and state income taxes. Income tax expense was zero for the three and nine months ended September 30, 2021 and 2020. As of each reporting date, the Company's management considers new evidence, both positive and negative, that could impact management's view with regard to future realization of deferred tax assets. The Company's TRS is expecting continued taxable losses in 2021. As of September 30, 2021, the TRS continues to recognize a full valuation allowance equal to 100% of the net deferred tax assets due to the uncertainty of the TRS's ability to utilize these net deferred tax assets. Management will continue to monitor the need for a valuation allowance.

Dividends Declared and Paid

Dividends Declared and Paid	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Dividends Declared and Paid	Dividends Declared and Paid Common Dividends The Company suspended common dividends beginning after the payment of the March 27, 2020 dividend due to a decline in operating performance caused by the COVID-19 pandemic. During the three months ended March 31, 2020, the Company declared total common share dividends of $0.22 per share and distributions on LTIP units of $0.22 per unit. There were no common share dividends declared during the three and nine months ended September 30, 2021. The common share dividends and distributions paid during the three months ended March 31, 2020 were as follows: Record Date Payment Date Common share distribution amount LTIP unit distribution amount January 1/31/2020 2/28/2020 $ 0.11 $ 0.11 February 2/28/2020 3/27/2020 0.11 0.11 1st Quarter 2020 $ 0.22 $ 0.22 Total 2020 $ 0.22 $ 0.22 Preferred Dividends In September 2021, Chatham declared a dividend of $0.48307 per share of 6.625% Series A Cumulative Redeemable Preferred Shares payable on October 15, 2021 to shareholders of record as of September 30, 2021.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Shareholders' Equity	Shareholders' Equity Common Shares The Company is authorized to issue up to 500,000,000 common shares of beneficial interest, $0.01 par value per share ("common shares"). Each outstanding common share entitles the holder to one vote on all matters submitted to a vote of shareholders. Holders of the Company’s common shares are entitled to receive dividends when authorized by the Company's Board of Trustees. As of September 30, 2021, 48,767,816 common shares were outstanding. In December 2017, the Company established an At the Market Equity Offering ("Prior ATM Plan") whereby, from time to time, we may publicly offer and sell our common shares having an aggregate maximum offering price of up to $100 million by means of ordinary brokers’ transactions on the New York Stock Exchange (the "NYSE"), in negotiated transactions or in transactions that are deemed to be “at the market” offerings as defined in Rule 415 under the Securities Act of 1933, as amended. The Company filed a $100 million registration statement for a new ATM program (the "ATM Plan" and together with the Prior ATM Plan, the "ATM Plans") on March 5, 2021 to replace the prior program. At the same time, the Company entered into sales agreements with Cantor Fitzgerald & Co., Barclays Capital Inc., BMO Capital Markets Corp., BofA Securities, Inc., BTIG, LLC, Citigroup Global Markets Inc., Regions Securities LLC, Stifel, Nicolaus & Company, Incorporated and Wells Fargo Securities as sales agents. As of September 30, 2021, ther e was approximately $77.5 million available for issuance under the ATM Plan. In December 2017, the Company established a $50 million dividend reinvestment and stock purchase plan (the "Prior DRSPP"). We filed a new $50 million shelf registration statement for the dividend reinvestment and stock purchase plan (the "New DRSPP" and together with the Prior DRSPP, the "DRSPPs") on December 22, 2020 to replace the prior program. Under the DRSPPs, shareholders may purchase additional common shares by reinvesting some or all of the cash dividends received on the Company's common shares. Shareholders may also make optional cash purchases of the Company's common shares subject to certain limitations detailed in the prospectus for the DRSPPs. During the three months ended September 30, 2021, the Company issued 1,261 shares under the New DRSPP at a weighted average price of $11.91, which generated $15 thousand of proceeds. As of September 30, 2021, there was approximately $48.0 million available for issuance under the New DRSPP. Preferred Shares The Company is authorized to issue up to 100,000,000 preferred shares of beneficial interest, $0.01 par value per share, in one or more series. On June 30, 2021, the Company issued 4,800,000 6.625% Series A Cumulative Redeemable Preferred Shares of Beneficial Interest, $0.01 par value per share (the “Series A Preferred Shares”), and received net proceeds of approximately $115.9 million. The Series A Preferred Shares rank senior to the Company’s common shares with respect to the payment of dividends and distributions of assets in the event of a liquidation, dissolution, or winding up. The Series A Preferred Shares do not have any maturity date and are not subject to mandatory redemptions or sinking fund requirements. The distribution rate is 6.625% per annum of the $25.00 liquidation preference, which is equivalent to $1.65625 per annum per Series A Preferred Share. Distributions on the Series A Preferred Shares will be payable quarterly in arrears with the first distribution on the Series A Preferred Shares paid on October 15, 2021. The Company may not redeem the Series A Preferred Shares before June 30, 2026 except in limited circumstances to preserve the Company's status as a REIT for federal income tax purposes and upon the occurrence of a change of control. On and after June 30, 2026, the Company may, at its option, redeem the Series A Preferred Shares, in whole or from time to time in part, by paying $25.00 per share, plus any accrued and unpaid distributions to, but not including, the date of redemption. Upon the occurrence of a change of control, as defined in the Company's declaration of trust, the result of which the Company’s common shares and the common securities of the acquiring or surviving entity are not listed on the New York Stock Exchange, the NYSE MKT or NASDAQ, or any successor exchanges, the Company may, at its option, redeem the Preferred Shares in whole or in part within 120 days following the change of control by paying $25.00 per share, plus any accrued and unpaid distributions through the date of redemption. If the Company does not exercise its right to redeem the Preferred Shares upon a change of control, the holders of the Preferred Shares have the right to convert some or all of their shares into a number of the Company’s common shares based on defined formulas subject to share caps. The share cap on each Series A Preferred Share is 3.701 common shares. As of September 30, 2021, 4,800,000 preferred shares were issued and outstanding. During the three months ended September 30, 2021, the Company accrued preferred share dividends of $2.0 million. Operating Partnership Units Holders of common units in the Operating Partnership, if and when issued, will have certain redemption rights, which will enable the unit holders to cause the Operating Partnership to redeem their units in exchange for, at the Company’s option, cash per unit equal to the market price of the Company’s common shares at the time of redemption or for the Company’s common shares on a one-for-one basis. The number of shares issuable upon exercise of the redemption rights will be adjusted upon the occurrence of share splits, mergers, consolidations or similar pro-rata share transactions, which otherwise would have the effect of diluting the ownership interests of limited partners or shareholders. As of September 30, 2021, there were 976,102 vested Operating Partnership LTIP units held by current and former employees.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The two-class method is used to determine earnings per share because unvested restricted shares and unvested LTIP units are considered to be participating shares. The LTIP units held by the non-controlling interest holders, which may be converted to common shares of beneficial interest, have been excluded from the denominator of the diluted earnings per share calculation as there would be no effect on the amounts since limited partners' share of income or loss would also be added back to net income or loss. Unvested restricted shares, unvested long-term incentive plan units and unvested Class A Performance LTIP units that could potentially dilute basic earnings per share in the future would not be included in the computation of diluted loss per share, for the periods where a loss has been recorded, because they would have been anti-dilutive for the periods presented. The following is a reconciliation of the amounts used in calculating basic and diluted net income per share (in thousands, except share and per share data): For the three months ended For the nine months ended September 30, September 30, 2021 2020 2021 2020 Numerator: Net loss attributable to common shareholders $ (3,307) $ (18,057) $ (9,209) $ (72,667) Dividends paid on unvested shares and units — — — (50) Net loss attributable to common shareholders $ (3,307) $ (18,057) $ (9,209) $ (72,717) Denominator: Weighted average number of common shares - basic 48,755,561 46,965,526 48,211,612 46,958,143 Unvested shares and units — — — — Weighted average number of common shares - diluted 48,755,561 46,965,526 48,211,612 46,958,143 Basic loss per Common Share: Net loss attributable to common shareholders per weighted average basic common share $ (0.07) $ (0.38) $ (0.19) $ (1.55) Diluted loss per Common Share: Net loss attributable to common shareholders per weighted average diluted common share $ (0.07) $ (0.38) $ (0.19) $ (1.55)

Equity Incentive Plan

Equity Incentive Plan	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Equity Incentive Plan	Equity Incentive Plan The Company maintains its Equity Incentive Plan to attract and retain independent trustees, executive officers and other key employees and service providers. The plan provides for the grant of options to purchase common shares, share awards, share appreciation rights, performance units and other equity-based awards. The plan was amended and restated as of May 17, 2013 to increase the maximum number of shares available under the plan to 3,000,000 shares. Share awards under this plan generally vest over three Restricted Share Awards From time to time, the Company may award restricted shares under the Equity Incentive Plan as compensation to officers, employees and non-employee trustees. The Company recognizes compensation expense for the restricted shares on a straight-line basis over the vesting period based on the fair market value of the shares on the date of issuance. A summary of the Company’s restricted share awards for the nine months ended September 30, 2021 and the year ended December 31, 2020 is as follows: For the nine months ended For the year ended September 30, 2021 December 31, 2020 Number of Shares Weighted-Average Grant Date Fair Value Number of Shares Weighted-Average Grant Date Fair Value Non-vested at beginning of the period 1,667 $ 17.40 5,001 $ 18.33 Granted 10,000 11.47 — — Vested — — (3,334) 18.80 Forfeited — — — — Non-vested at end of the period 11,667 $ 12.32 1,667 $ 17.40 As of September 30, 2021 and December 31, 2020, there were $116 thousand and $29 thousand, respectively, of unrecognized compensation costs related to restricted share awards. As of September 30, 2021, these costs were expected to be recognized over a weighted–average period of approximately 2.7 years. For the three months ended September 30, 2021 and 2020, the Company recognized approximately $13 thousand and $7 thousand, respectively, and for the nine months ended September 30, 2021 and 2020, the Company recognized approximately $27 thousand and $23 thousand, respectively, of expense related to the restricted share awards. Long-Term Incentive Plan Awards LTIP units are a special class of partnership interests in the Operating Partnership which may be issued to eligible participants for the performance of services to or for the benefit of the Company. Under the Equity Incentive Plan, each LTIP unit issued is deemed equivalent to an award of one common share thereby reducing the number of shares available for other equity awards on a one-for-one basis. A summary of the Company's LTIP Unit awards for the nine months ended September 30, 2021 and the year ended December 31, 2020 is as follows: For the nine months ended For the year ended September 30, 2021 December 31, 2020 Number of Units Weighted-Average Grant Date Fair Value Number of Units Weighted-Average Grant Date Fair Value Non-vested at beginning of the period 669,609 $ 15.73 598,320 $ 18.30 Granted 330,945 14.55 325,507 13.42 Vested (219,451) 16.39 (254,218) 18.82 Forfeited (16,925) 17.02 — — Non-vested at end of the period 764,178 $ 15.00 669,609 $ 15.73 Time-Based LTIP Awards On March 1, 2021, the Company’s Operating Partnership, upon the recommendation of the Compensation Committee, granted 132,381 time-based awards (the “2021 Time-Based LTIP Unit Award”). The grants were made pursuant to award agreements that provide for time-based vesting (the "LTIP Unit Time-Based Vesting Agreement"). Time-based LTIP Unit Awards will vest ratably provided that the recipient remains employed by the Company through the applicable vesting date , subject to acceleration of vesting in the event of the recipient’s death, disability, termination without cause or resignation with good reason, or in the event of a change of control of the Company. Prior to vesting, a holder is entitled to receive distributions on the LTIP Units that comprise the 2021 Time-Based LTIP Unit Awards and the prior year LTIP unit Awards set forth in the table above. Performance-Based LTIP Awards On March 1, 2021, the Company's Operating Partnership, upon the recommendation of the Compensation Committee, also granted 198,564 performance-based awards (the "2021 Performance-Based LTIP Unit Awards"). The grants were made pursuant to award agreements that have market based vesting conditions. The Performance-Based LTIP Unit Awards are comprised of Class A Performance LTIP Units that will vest only if and to the extent that (i) the Company achieves certain long-term market based TSR criteria established by the Compensation Committee and (ii) the recipient remains employed by the Company through the applicable vesting date, subject to acceleration of vesting in the event of the recipient’s death, disability, termination without cause or resignation with good reason, or in the event of a change of control of the Company. Compensation expense is based on an estimated value of $15.91 per 2021 Performance-Based LTIP Unit Award, which takes into account that some or all of the awards may not vest if long-term market based TSR criteria are not met during the vesting period. The 2021 Performance-Based LTIP Unit Awards may be earned based on the Company’s relative TSR performance for the three-year period beginning on March 1, 2021 and ending on February 28, 2024. The 2021 Performance-Based LTIP Unit Awards, if earned, will be paid out between 50% and 150% of target value as follows: Relative TSR Hurdles (Percentile) Payout Percentage Threshold 25th 50% Target 50th 100% Maximum 75th 150% Payouts at performance levels in between the hurdles will be calculated by straight-line interpolation. The Company estimated the aggregate compensation cost to be recognized over the service period determined as of the grant date under ASC 718, excluding the effect of estimated forfeitures, using a Monte Carlo approach. In determining the discounted value of the LTIP units, the Company considered the inherent uncertainty that the LTIP units would never reach parity with the other common units of the Operating Partnership and thus have an economic value of zero to the grantee. Additional factors considered in estimating the value of LTIP units included discounts for illiquidity; expectations for future dividends; risk free interest rates; stock price volatility; and economic environment and market conditions. The grant date fair values of the LTIPs and the assumptions used to estimate the values are as follows: Grant Date Number of Units Granted Estimated Value Per Unit Volatility Dividend Yield Risk Free Interest Rate Outperformance Plan LTIP Unit Awards 6/1/2015 183,300 $14.13 26% 4.5% 0.95% 2016 Time-Based LTIP Unit Awards 1/28/2016 72,966 $16.69 28% —% 0.79% 2016 Performance-Based LTIP Unit Awards 1/28/2016 39,285 $11.09 30% 5.8% 1.13% 2017 Time-Based LTIP Unit Awards 3/1/2017 89,574 $18.53 24% —% 0.92% 2017 Performance-Based LTIP Unit Awards 3/1/2017 134,348 $19.65 25% 5.8% 1.47% 2018 Time-Based LTIP Unit Awards 3/1/2018 97,968 $16.83 26% —% 2.07% 2018 Performance-Based LTIP Unit Awards 3/1/2018 146,949 $17.02 26% 6.2% 2.37% 2019 Time-Based LTIP Unit Awards 3/1/2019 88,746 $18.45 21% —% 2.57% 2019 Performance-Based LTIP Unit Awards 3/1/2019 133,107 $18.91 21% 6.2% 2.55% 2020 Time-Based LTIP Unit Awards 3/1/2020 130,206 $13.05 20% —% 1.06% 2020 Performance-Based LTIP Unit Awards 3/1/2020 195,301 $13.66 20% 8.1% 0.90% 2021 Time-Based LTIP Unit Awards 3/1/2021 132,381 $12.52 78% —% 0.08% 2021 Performance-Based LTIP Unit Awards 3/1/2021 198,564 $15.91 64% 3.4% 0.30%

Leases

Leases	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Leases	Leases The Residence Inn Gaslamp hotel is subject to a ground lease with an expiration date of January 31, 2065 with an extension option by the Company of up to three additional terms of ten years each. Monthly payments are currently approximately $44,400 per month and increase 10% every five years. The hotel is subject to annual supplemental rent payments calculated as 5% of gross revenues during the applicable lease year, minus 12 times the monthly base rent scheduled for the lease year. The Residence Inn New Rochelle is subject to an air rights lease and garage lease that each expire on December 1, 2104. The lease agreements with the City of New Rochelle cover the space above the parking garage that is occupied by the hotel as well as 128 parking spaces in a parking garage that is attached to the hotel. The annual base rent for the garage lease is the hotel’s proportionate share of the city’s adopted budget for the operations, management and maintenance of the garage and established reserves to fund for the cost of capital repairs. Aggregate rent for 2021 is approximately $30,000 per quarter. The Hilton Garden Inn Marina del Rey hotel is subject to a ground lease with an expiration date of December 31, 2067. Minimum monthly payments are currently approximately $47,500 per month and a percentage rent payment less the minimum rent is due in arrears equal to 5% to 25% of gross income based on the type of income. The Company entered into a corporate office lease in September 2015. The lease is for a term of 11 years and includes a 12-month rent abatement period and certain tenant improvement allowances. The Company has a renewal option of up to two successive terms of 5 years each. The Company shares the space with related parties and is reimbursed for the pro-rata share of rentable space occupied by the related parties. The Company is the lessee under ground, air rights, garage and office lease agreements for certain of its properties, all of which qualify as operating leases as of September 30, 2021. These leases typically provide multi-year renewal options to extend term as lessee at the Company's option. Option periods are included in the calculation of the lease obligation liability only when options are reasonably certain to be exercised. In calculating the Company's lease obligations under the various leases, the Company uses discount rates estimated to be equal to what the Company would have to pay to borrow on a collateralized basis over a similar term, for an amount equal to the lease payments, in a similar economic environment. The following is a schedule of the minimum future payments required under the ground, air rights, garage leases and office lease as of September 30, 2021, for each of the next five calendar years and thereafter: Total Future Lease Payments Amount 2021 (remaining three months) $ 516 2022 2,071 2023 2,093 2024 2,115 2025 2,186 Thereafter 66,720 Total lease payments $ 75,701 Less: Imputed interest (52,865) Present value of lease liabilities $ 22,836 The following is a schedule of the minimum future payments required under the ground, air rights, garage leases and office lease as of December 31, 2020, for each of the next five calendar years and thereafter: Total Future Lease Payments Amount 2021 $ 2,051 2022 2,071 2023 2,093 2024 2,115 2025 2,186 Thereafter 66,720 Total lease payments $ 77,236 Less: Imputed interest (54,003) Present value of lease liabilities $ 23,233 The Company incurred $0.3 million of fixed lease payments and $0.1 million of variable lease payments for the three months ended September 30, 2021, and $0.9 million of fixed lease payments and $0.2 million of variable lease payments for the nine months ended September 30, 2021, which are included in property taxes, ground rent and insurance in our consolidated statement of operations. The following table includes information regarding the right of use assets and lease liabilities of the Company as of September 30, 2021: Right of Use Asset Lease Liability Balance as of January 1, 2021 $ 20,641 $ 23,233 Amortization (490) (397) Balance as of September 30, 2021 $ 20,151 $ 22,836 Lease Term and Discount Rate September 30, 2021 Weighted-average remaining lease term (years) 40.56 Weighted-average discount rate 6.59%

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation The Company is subject to various claims, lawsuits and legal proceedings, including routine litigation arising in the ordinary course of business, regarding the operation of its hotels, its managers and other Company matters. While it is not possible to ascertain the ultimate outcome of such matters, the Company believes that the aggregate identifiable amount of such liabilities, if any, will not have a material adverse impact on its financial condition or results of operations. Management Agreements The management agreements with IHM have an initial term of five years and automatically renew for two five-year periods unless IHM provides written notice to us no later than 90 days prior to the then current term’s expiration date of its intent not to renew. The IHM management agreements provide for early termination at the Company’s option upon sale of any IHM-managed hotel for no termination fee, with six months advance notice. The IHM management agreements may be terminated for cause, including the failure of the managed hotel to meet specified performance levels. Base management fees are calculated as a percentage of the hotel's gross room revenue. If certain financial thresholds are met or exceeded, an incentive management fee is calculated as 10% of the hotel's net operating income less fixed costs, base management fees and a specified return threshold. The incentive management fee is capped at 1% of gross hotel revenues for the applicable calculation. Management fees totaled approximately $2.2 million and $1.3 million for the three months ended September 30, 2021 and 2020, respectively, and $5.1 million and $4.2 million for the nine months ended September 30, 2021 and 2020, respectively. Franchise Agreements The fees associated with the franchise agreements are calculated as a specified percentage of the hotel's gross room revenue. Franchise and marketing fees totaled approximately $5.3 million and $2.9 million for the three months ended September 30, 2021 and 2020, respectively, and $12.0 million and $9.2 million for the nine months ended September 30, 2021 and 2020, respectively. The initial term of the agreements range from 10 to 30 years with the weighted average expiration being August 2030.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Prior to March 18, 2021, Mr. Fisher owned 52.5% of IHM. During the nine months ended September 30, 2021, Mr. Fisher acquired the remaining 47.5% ownership interest and as of September 30, 2021, Mr. Fisher owns 100% of IHM. As of September 30, 2021, the Company had hotel management agreements with IHM to manage all 41 of its wholly owned hotels. Hotel management, revenue management and accounting fees accrued or paid to IHM for the hotels owned by the Company for the three months ended September 30, 2021 and 2020 were $2.2 million and $1.3 million, respectively, and for the nine months ended September 30, 2021 and 2020 were $5.1 million and $4.2 million, respectively. At September 30, 2021 and December 31, 2020, the amounts due to IHM were $0.6 million and $0.3 million, respectively. The Company also provided services to an entity, Castleblack Owner Holding, LLC ("Castleblack"), that sold on March 24, 2021 as part of the larger CLNY transaction, which was 97.5% owned by affiliates of CLNY and 2.5% owned by Mr. Fisher. During the nine months ended September 30, 2021 and 2020 the Company received $23 thousand and $74 thousand, respectively, for these services. Cost reimbursements from unconsolidated entities revenue represent reimbursements of costs incurred on behalf of the NewINK JV, Inland JV, Castleblack and IHM. These costs relate primarily to corporate payroll costs at the NewINK JV, Inland JV and Castleblack where the Company is the employer and office expenses shared with these entities and IHM. Various shared office expenses and rent are paid by the Company and allocated to the NewINK JV, the Inland JV, Castleblack and IHM based on the amount of square footage occupied by each entity. As the Company records cost reimbursements based upon costs incurred with no added markup, the revenue and related expense has no impact on the Company’s operating income or net income. Cost reimbursements are recorded based upon the occurrence of a reimbursed activity.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn October 26, 2021, Chatham executed an amendment to its credit facility which extended the waiver of financial covenants until June 30, 2022, provided for the immediate exercise of an option to extend the maturity of the entire $250.0 million facility through March 8, 2023, and added two six-month options to further extend the maturity of the facility through March 8, 2024 from lenders representing $227.5 million of commitments. In conjunction with the amendment, Chatham provided credit facility lenders with equity pledges on three unencumbered hotels. The spread on the facility did not change as a result of the amendment.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim consolidated financial statements and related notes have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and in conformity with the rules and regulations of the Securities and Exchange Commission (“SEC”) applicable to interim financial information. These unaudited consolidated financial statements, in the opinion of management, include all adjustments consisting of normal, recurring adjustments which are considered necessary for a fair statement of the consolidated balance sheets, consolidated statements of operations, consolidated statements of equity, and consolidated statements of cash flows for the periods presented. Interim results are not necessarily indicative of full year performance due to seasonal and other factors, including the timing of the acquisition or sale of hotels. The consolidated financial statements include all of the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions are eliminated in consolidation. The accompanying unaudited consolidated financial statements should be read in conjunction with the audited financial statements prepared in accordance with GAAP, and the related notes thereto as of December 31, 2020, which are included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

Investment in Hotel Properties

Investment in Hotel Properties (Tables)	9 Months Ended
	Sep. 30, 2021
Investments, All Other Investments [Abstract]
Investment in Hotel Properties	Investment in hotel properties, net as of September 30, 2021 and December 31, 2020 consisted of the following (in thousands): September 30, 2021 December 31, 2020 Land and improvements $ 291,749 $ 287,049 Building and improvements 1,263,289 1,195,276 Furniture, fixtures and equipment 90,799 84,381 Renovations in progress 6,387 11,225 1,652,224 1,577,931 Less: accumulated depreciation (352,928) (312,757) Investment in hotel properties, net $ 1,299,296 $ 1,265,174

Investment in Unconsolidated _2

Investment in Unconsolidated Entities (Tables)	9 Months Ended
	Sep. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Income from Joint Venture	The following table sets forth the combined components of net loss, including the Company’s share, related to all JVs for the three and nine months ended September 30, 2021 and 2020 (in thousands): For the three months ended For the nine months ended September 30, September 30, 2021 2020 2021 2020 Revenue $ — $ 63,509 $ 24,690 $ 192,276 Total hotel operating expenses — 53,636 24,106 165,588 Hotel operating income $ — $ 9,873 $ 584 $ 26,688 Impairment loss $ — $ 2,842 $ — $ 578,217 Loss from continuing operations $ — $ (26,637) $ (13,109) $ (671,644) Loss on sale of hotels — (6) — (20) Net loss $ — $ (26,643) $ (13,109) $ (671,664) Loss allocable to the Company $ — $ (982) $ (1,347) $ (6,960) Basis difference adjustment — 135 116 861 Total loss from unconsolidated real estate entities attributable to the Company $ — $ (847) $ (1,231) $ (6,099)

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Components of Mortgage and Revolving Credit Facility Debt	Mortgage and revolving credit facility debt consisted of the following (dollars in thousands): Collateral Interest Rate Maturity Date 9/30/21 Property Carrying Value Balance Outstanding on Loan as of September 30, 2021 December 31, Revolving Credit Facility (1) 3.45 % March 8, 2022 $ 616,243 $ 70,000 $ 135,300 Construction loan (2) 7.75 % August 3, 2024 64,168 32,283 13,325 Residence Inn by Marriott New Rochelle, NY 5.75 % September 1, 2021 21,366 — 12,602 Homewood Suites by Hilton San Antonio, TX 4.59 % February 6, 2023 27,810 14,907 15,195 Residence Inn by Marriott Vienna, VA 4.49 % February 6, 2023 30,358 20,380 20,780 Courtyard by Marriott Houston, TX 4.19 % May 6, 2023 29,422 16,788 17,126 Hyatt Place Pittsburgh, PA 4.65 % July 6, 2023 32,972 20,647 21,031 Residence Inn by Marriott Bellevue, WA 4.97 % December 6, 2023 61,253 42,322 42,998 Residence Inn by Marriott Garden Grove, CA 4.79 % April 6, 2024 40,191 30,999 31,463 Residence Inn by Marriott Silicon Valley I, CA 4.64 % July 1, 2024 72,695 62,642 63,418 Residence Inn by Marriott Silicon Valley II, CA 4.64 % July 1, 2024 80,661 68,345 69,192 Residence Inn by Marriott San Mateo, CA 4.64 % July 1, 2024 60,542 46,981 47,564 Residence Inn by Marriott Mountain View, CA 4.64 % July 6, 2024 46,053 36,638 37,092 SpringHill Suites by Marriott Savannah, GA 4.62 % July 6, 2024 32,620 28,997 29,358 Hilton Garden Inn Marina del Rey, CA 4.68 % July 6, 2024 37,328 20,143 20,490 Homewood Suites by Hilton Billerica, MA 4.32 % December 6, 2024 12,393 15,190 15,411 Hampton Inn & Suites Houston Medical Center, TX 4.25 % January 6, 2025 15,281 17,145 17,396 Total debt before unamortized debt issue costs $ 1,281,356 $ 544,407 $ 609,741 Unamortized mortgage debt issue costs (710) (971) Total debt outstanding $ 543,697 $ 608,770 1. The interest rate for the revolving credit facility is variable and based on LIBOR (subject to a 0.5% floor) plus a spread of 2.5% if borrowings remain at or below $200 million and a spread of 3.0% if borrowings exceed $200 million. At September 30, 2021 and December 31, 2020, the Company had $70.0 million and $135.3 million, respectively, of outstanding borrowings under its $250.0 million revolving credit facility. The credit facility provides two six-month extension options that would extend the final maturity to March 8, 2023 if exercised. 2. On August 4, 2020, a subsidiary of Chatham entered into an agreement with affiliates of Mack Real Estate Credit Strategies to obtain a $40 million loan to fund the remaining construction costs of the Warner Center hotel development. The loan has an initial term of 4 years and there are two six-month extension options. The rate on the loan is LIBOR, subject to a 0.25% floor, plus a spread of 7.5%.
Future Scheduled Principal Payments of Debt Obligations	Future scheduled principal payments of debt obligations as of September 30, 2021, for the current year and each of the next five calendar years and thereafter are as follows (in thousands): Amount 2021 (remaining three months) $ 2,450 2022 79,249 2023 117,876 2024 328,898 2025 15,934 Thereafter — Total debt before unamortized debt issue costs $ 544,407 Unamortized mortgage debt issue costs (710) Total debt outstanding $ 543,697

Dividends Declared and Paid (Ta

Dividends Declared and Paid (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Dividends Declared and Paid	The common share dividends and distributions paid during the three months ended March 31, 2020 were as follows: Record Date Payment Date Common share distribution amount LTIP unit distribution amount January 1/31/2020 2/28/2020 $ 0.11 $ 0.11 February 2/28/2020 3/27/2020 0.11 0.11 1st Quarter 2020 $ 0.22 $ 0.22 Total 2020 $ 0.22 $ 0.22

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Reconciliation of Amounts Used in Calculating Basic and Diluted Net Income (Loss) Per Share	The following is a reconciliation of the amounts used in calculating basic and diluted net income per share (in thousands, except share and per share data): For the three months ended For the nine months ended September 30, September 30, 2021 2020 2021 2020 Numerator: Net loss attributable to common shareholders $ (3,307) $ (18,057) $ (9,209) $ (72,667) Dividends paid on unvested shares and units — — — (50) Net loss attributable to common shareholders $ (3,307) $ (18,057) $ (9,209) $ (72,717) Denominator: Weighted average number of common shares - basic 48,755,561 46,965,526 48,211,612 46,958,143 Unvested shares and units — — — — Weighted average number of common shares - diluted 48,755,561 46,965,526 48,211,612 46,958,143 Basic loss per Common Share: Net loss attributable to common shareholders per weighted average basic common share $ (0.07) $ (0.38) $ (0.19) $ (1.55) Diluted loss per Common Share: Net loss attributable to common shareholders per weighted average diluted common share $ (0.07) $ (0.38) $ (0.19) $ (1.55)

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Summary of Restricted Share Awards	A summary of the Company’s restricted share awards for the nine months ended September 30, 2021 and the year ended December 31, 2020 is as follows: For the nine months ended For the year ended September 30, 2021 December 31, 2020 Number of Shares Weighted-Average Grant Date Fair Value Number of Shares Weighted-Average Grant Date Fair Value Non-vested at beginning of the period 1,667 $ 17.40 5,001 $ 18.33 Granted 10,000 11.47 — — Vested — — (3,334) 18.80 Forfeited — — — — Non-vested at end of the period 11,667 $ 12.32 1,667 $ 17.40
Schedule of Long Term Incentive Unit Awards	A summary of the Company's LTIP Unit awards for the nine months ended September 30, 2021 and the year ended December 31, 2020 is as follows: For the nine months ended For the year ended September 30, 2021 December 31, 2020 Number of Units Weighted-Average Grant Date Fair Value Number of Units Weighted-Average Grant Date Fair Value Non-vested at beginning of the period 669,609 $ 15.73 598,320 $ 18.30 Granted 330,945 14.55 325,507 13.42 Vested (219,451) 16.39 (254,218) 18.82 Forfeited (16,925) 17.02 — — Non-vested at end of the period 764,178 $ 15.00 669,609 $ 15.73
Schedule of Performance-Based Long-Term Incentive Plan Payout Unit Awards	The 2021 Performance-Based LTIP Unit Awards, if earned, will be paid out between 50% and 150% of target value as follows: Relative TSR Hurdles (Percentile) Payout Percentage Threshold 25th 50% Target 50th 100% Maximum 75th 150%
Schedule of Share-based Payment Award, Valuation Assumptions	The grant date fair values of the LTIPs and the assumptions used to estimate the values are as follows: Grant Date Number of Units Granted Estimated Value Per Unit Volatility Dividend Yield Risk Free Interest Rate Outperformance Plan LTIP Unit Awards 6/1/2015 183,300 $14.13 26% 4.5% 0.95% 2016 Time-Based LTIP Unit Awards 1/28/2016 72,966 $16.69 28% —% 0.79% 2016 Performance-Based LTIP Unit Awards 1/28/2016 39,285 $11.09 30% 5.8% 1.13% 2017 Time-Based LTIP Unit Awards 3/1/2017 89,574 $18.53 24% —% 0.92% 2017 Performance-Based LTIP Unit Awards 3/1/2017 134,348 $19.65 25% 5.8% 1.47% 2018 Time-Based LTIP Unit Awards 3/1/2018 97,968 $16.83 26% —% 2.07% 2018 Performance-Based LTIP Unit Awards 3/1/2018 146,949 $17.02 26% 6.2% 2.37% 2019 Time-Based LTIP Unit Awards 3/1/2019 88,746 $18.45 21% —% 2.57% 2019 Performance-Based LTIP Unit Awards 3/1/2019 133,107 $18.91 21% 6.2% 2.55% 2020 Time-Based LTIP Unit Awards 3/1/2020 130,206 $13.05 20% —% 1.06% 2020 Performance-Based LTIP Unit Awards 3/1/2020 195,301 $13.66 20% 8.1% 0.90% 2021 Time-Based LTIP Unit Awards 3/1/2021 132,381 $12.52 78% —% 0.08% 2021 Performance-Based LTIP Unit Awards 3/1/2021 198,564 $15.91 64% 3.4% 0.30%

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Lessee, Operating Lease, Liability, Maturity	The following is a schedule of the minimum future payments required under the ground, air rights, garage leases and office lease as of September 30, 2021, for each of the next five calendar years and thereafter: Total Future Lease Payments Amount 2021 (remaining three months) $ 516 2022 2,071 2023 2,093 2024 2,115 2025 2,186 Thereafter 66,720 Total lease payments $ 75,701 Less: Imputed interest (52,865) Present value of lease liabilities $ 22,836
Lessee Operating Lease Liability Maturity, Ground, Air Rights, Garage And Office Leases	The following is a schedule of the minimum future payments required under the ground, air rights, garage leases and office lease as of December 31, 2020, for each of the next five calendar years and thereafter: Total Future Lease Payments Amount 2021 $ 2,051 2022 2,071 2023 2,093 2024 2,115 2025 2,186 Thereafter 66,720 Total lease payments $ 77,236 Less: Imputed interest (54,003) Present value of lease liabilities $ 23,233
Schedule of Right of Use Asset and Liability	The following table includes information regarding the right of use assets and lease liabilities of the Company as of September 30, 2021: Right of Use Asset Lease Liability Balance as of January 1, 2021 $ 20,641 $ 23,233 Amortization (490) (397) Balance as of September 30, 2021 $ 20,151 $ 22,836
Lease, Cost	Lease Term and Discount Rate September 30, 2021 Weighted-average remaining lease term (years) 40.56 Weighted-average discount rate 6.59%

Organization (Details)

Organization (Details) $ in Millions	1 Months Ended	9 Months Ended
	Mar. 31, 2021USD ($)	Sep. 30, 2021hotelRoomstate	Sep. 22, 2021hotelRoom	Mar. 17, 2021hotelRoom
Subsidiary, Sale of Stock [Line Items]
Aggregate number of rooms in hotels | Room		6,169
Number of states in which hotels are owned | state		15
Initial term of each TRS lease		5 years
Island Hospitality Management Inc.
Subsidiary, Sale of Stock [Line Items]
Number of hotels managed by related party		41
Ownership percentage in related party owned by the company's chairman		100.00%		52.50%
Inland Joint Venture
Subsidiary, Sale of Stock [Line Items]
Aggregate number of rooms in hotels | Room			6,402	5,948
Number of hotels acquired			48
Inland Joint Venture | Minority Interest In Joint Venture Rooms
Subsidiary, Sale of Stock [Line Items]
Number of hotels managed by related party				46
Operating Partnership
Subsidiary, Sale of Stock [Line Items]
Percentage of common units of limited partnership owned		100.00%
Colony Capital, Inc. | Inland Joint Venture
Subsidiary, Sale of Stock [Line Items]
Noncontrolling interest, ownership percentage by parent			10.00%	10.30%
Proceeds from sale of interest in affiliate | $	$ 2.8

Acquisition of Hotel Properti_2

Acquisition of Hotel Properties - Narrative (Details) - USD ($) $ in Millions	Aug. 03, 2021	Sep. 30, 2021
Business Acquisition [Line Items]
Property acquisition costs capitalized		$ 0.1
Residence Inn Austin Northwest/The Domain Area ("RI Austin")
Business Acquisition [Line Items]
Consideration transferred	$ 37
TownePlace Suites Austin Northwest/The Domain Area ("TPS Austin")
Business Acquisition [Line Items]
Consideration transferred	$ 34.3

Disposition of Hotel Properti_2

Disposition of Hotel Properties (Details) - USD ($) $ in Thousands	Nov. 24, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of property		$ (7)	$ 0	$ (21)	$ 3
Disposal group, disposed of by sale, not discontinued operations | Residence Inn Mission Valley San Diego, CA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Amount sold in disposition	$ 67,000
Gain on sale of property	21,100
Mortgage loan amount	$ 26,700

Allowance for Doubtful Accoun_2

Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Receivables [Abstract]
Allowance for doubtful accounts related to receivables	$ 393	$ 248

Investment in Hotel Propertie_2

Investment in Hotel Properties - Schedule of Investments in Hotel Properties (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Investments, All Other Investments [Abstract]
Land and improvements	$ 291,749	$ 287,049
Building and improvements	1,263,289	1,195,276
Furniture, fixtures and equipment	90,799	84,381
Renovations in progress	6,387	11,225
Investment in hotel properties, at cost	1,652,224	1,577,931
Less: accumulated depreciation	(352,928)	(312,757)
Investment in hotel properties, net	$ 1,299,296	$ 1,265,174

Investment in Hotel Propertie_3

Investment in Hotel Properties - Narrative (Details) - California $ in Millions	Sep. 30, 2021USD ($)
Schedule of Investments [Line Items]
Cost incurred	$ 64.2
Land
Schedule of Investments [Line Items]
Cost incurred	6.6
Other Development Costs
Schedule of Investments [Line Items]
Cost incurred	$ 57.6

Investment in Unconsolidated _3

Investment in Unconsolidated Entities - Additional Information (Details) - USD ($)	1 Months Ended		3 Months Ended			9 Months Ended
	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Nov. 17, 2014	Jun. 09, 2014
Schedule of Equity Method Investments [Line Items]
Proceeds from sale of unconsolidated real estate entity						$ 2,800,000	$ 0
Gain on sale of investment in unconsolidated real estate entities			$ 0	$ 0		23,817,000	0
Impairment loss on investment in unconsolidated real estate entities			0	$ 0		0	$ 15,282,000
NewINK Joint Venture
Schedule of Equity Method Investments [Line Items]
Joint venture, percentage ownership by third party									89.70%
NewINK Joint Venture
Schedule of Equity Method Investments [Line Items]
Indirect ownership in the leased hotels									10.30%
Proceeds from sale of unconsolidated real estate entity		$ 2,800,000
Gain on sale of investment in unconsolidated real estate entities						23,800,000
Investments in joint ventures	$ 0		0			0
Inland Joint Venture
Schedule of Equity Method Investments [Line Items]
Indirect ownership in the leased hotels								10.00%
Joint venture, percentage ownership by third party								90.00%
Impairment loss on investment in unconsolidated real estate entities					$ 15,300,000
Investments in joint ventures	0		$ 0			$ 0
Proceeds from sale of equity method investments	$ 0

Investment in Unconsolidated _4

Investment in Unconsolidated Entities - Components of Net Loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Schedule of Equity Method Investments [Line Items]
Revenue	$ 64,295	$ 34,969	$ 146,653	$ 115,351
Operating income (loss)	4,440	(10,245)	(11,439)	(46,550)
Loss on sale of hotels			(21)	0
Net loss attributable to common shareholders	(1,319)	(18,057)	(7,221)	(72,667)
Total Minority Interest Joint Ventures
Schedule of Equity Method Investments [Line Items]
Revenue	0	63,509	24,690	192,276
Total hotel operating expenses	0	53,636	24,106	165,588
Operating income (loss)	0	9,873	584	26,688
Impairment loss	0	2,842	0	578,217
Loss from continuing operations	0	(26,637)	(13,109)	(671,644)
Loss on sale of hotels	0	(6)	0	(20)
Net loss attributable to common shareholders	0	(26,643)	(13,109)	(671,664)
Loss allocable to the Company	0	(982)	(1,347)	(6,960)
Basis difference adjustment	0	135	116	861
Total loss from unconsolidated real estate entities attributable to the Company	$ 0	$ (847)	$ (1,231)	$ (6,099)

Debt - Components of Mortgage D

Debt - Components of Mortgage Debt (Details)	Aug. 04, 2020USD ($)extension_option	May 06, 2020USD ($)extension_option	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Participating Mortgage Loans [Line Items]
Property Carrying Value			$ 1,281,356,000
Total debt before unamortized debt issue costs			544,407,000	$ 609,741,000
Unamortized mortgage debt issue costs			(710,000)	(971,000)
Total debt outstanding			543,697,000	608,770,000
Amount refinanced			$ 70,000,000	135,300,000
Construction loan | Warner Center
Participating Mortgage Loans [Line Items]
Number of extension options | extension_option	2
Period of extension options	6 months
Debt amount	$ 40,000,000
Term of debt	4 years
LIBOR | Construction loan
Participating Mortgage Loans [Line Items]
Basis spread on variable rate			3.50%
LIBOR | Construction loan | Warner Center
Participating Mortgage Loans [Line Items]
Basis spread on variable rate	7.50%
Floor Rate | Construction loan | Warner Center
Participating Mortgage Loans [Line Items]
Basis spread on variable rate	0.25%
Revolving Credit Facility
Participating Mortgage Loans [Line Items]
Interest Rate			3.45%
Property Carrying Value			$ 616,243,000
Total debt before unamortized debt issue costs			70,000,000	135,300,000
Floor interest rate		0.50%
Maximum borrowing availability under revolving credit facility		$ 200,000,000
Amount refinanced			$ 70,000,000	135,300,000
Number of extension options | extension_option		2
Period of extension options		6 months
Revolving Credit Facility | Revolving Credit Facility
Participating Mortgage Loans [Line Items]
Maximum borrowing availability under revolving credit facility		$ 250,000,000
Revolving Credit Facility | LIBOR | Minimum
Participating Mortgage Loans [Line Items]
Basis spread on variable rate		2.50%
Revolving Credit Facility | LIBOR | Maximum
Participating Mortgage Loans [Line Items]
Basis spread on variable rate		3.00%
Construction loan
Participating Mortgage Loans [Line Items]
Interest Rate			7.75%
Property Carrying Value			$ 64,168,000
Total debt before unamortized debt issue costs			$ 32,283,000	13,325,000
Residence Inn by Marriott New Rochelle, NY
Participating Mortgage Loans [Line Items]
Interest Rate			5.75%
Property Carrying Value			$ 21,366,000
Total debt before unamortized debt issue costs			$ 0	12,602,000
Homewood Suites by Hilton San Antonio, TX
Participating Mortgage Loans [Line Items]
Interest Rate			4.59%
Property Carrying Value			$ 27,810,000
Total debt before unamortized debt issue costs			$ 14,907,000	15,195,000
Residence Inn by Marriott Vienna, VA
Participating Mortgage Loans [Line Items]
Interest Rate			4.49%
Property Carrying Value			$ 30,358,000
Total debt before unamortized debt issue costs			$ 20,380,000	20,780,000
Courtyard by Marriott Houston, TX
Participating Mortgage Loans [Line Items]
Interest Rate			4.19%
Property Carrying Value			$ 29,422,000
Total debt before unamortized debt issue costs			$ 16,788,000	17,126,000
Hyatt Place Pittsburgh, PA
Participating Mortgage Loans [Line Items]
Interest Rate			4.65%
Property Carrying Value			$ 32,972,000
Total debt before unamortized debt issue costs			$ 20,647,000	21,031,000
Residence Inn by Marriott Bellevue, WA
Participating Mortgage Loans [Line Items]
Interest Rate			4.97%
Property Carrying Value			$ 61,253,000
Total debt before unamortized debt issue costs			$ 42,322,000	42,998,000
Residence Inn by Marriott Garden Grove, CA
Participating Mortgage Loans [Line Items]
Interest Rate			4.79%
Property Carrying Value			$ 40,191,000
Total debt before unamortized debt issue costs			$ 30,999,000	31,463,000
Residence Inn by Marriott Silicon Valley I, CA
Participating Mortgage Loans [Line Items]
Interest Rate			4.64%
Property Carrying Value			$ 72,695,000
Total debt before unamortized debt issue costs			$ 62,642,000	63,418,000
Residence Inn by Marriott Silicon Valley II, CA
Participating Mortgage Loans [Line Items]
Interest Rate			4.64%
Property Carrying Value			$ 80,661,000
Total debt before unamortized debt issue costs			$ 68,345,000	69,192,000
Residence Inn by Marriott San Mateo, CA
Participating Mortgage Loans [Line Items]
Interest Rate			4.64%
Property Carrying Value			$ 60,542,000
Total debt before unamortized debt issue costs			$ 46,981,000	47,564,000
Residence Inn by Marriott Mountain View, CA
Participating Mortgage Loans [Line Items]
Interest Rate			4.64%
Property Carrying Value			$ 46,053,000
Total debt before unamortized debt issue costs			$ 36,638,000	37,092,000
SpringHill Suites by Marriott Savannah, GA
Participating Mortgage Loans [Line Items]
Interest Rate			4.62%
Property Carrying Value			$ 32,620,000
Total debt before unamortized debt issue costs			$ 28,997,000	29,358,000
Hilton Garden Inn Marina del Rey, CA
Participating Mortgage Loans [Line Items]
Interest Rate			4.68%
Property Carrying Value			$ 37,328,000
Total debt before unamortized debt issue costs			$ 20,143,000	20,490,000
Homewood Suites by Hilton Billerica, MA
Participating Mortgage Loans [Line Items]
Interest Rate			4.32%
Property Carrying Value			$ 12,393,000
Total debt before unamortized debt issue costs			$ 15,190,000	15,411,000
Hampton Inn & Suites Houston Medical Center, TX
Participating Mortgage Loans [Line Items]
Interest Rate			4.25%
Property Carrying Value			$ 15,281,000
Total debt before unamortized debt issue costs			$ 17,145,000	$ 17,396,000

Debt - Additional Information (

Debt - Additional Information (Details)	May 06, 2020USD ($)hotel	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Fair value of interest rate caps		$ 41,000
LIBOR | Construction loan
Debt Instrument [Line Items]
Basis spread on variable rate		3.50%
Fixed Rate Debt
Debt Instrument [Line Items]
Estimated fair value of debt		$ 450,700,000	$ 462,600,000
Variable rate debt
Debt Instrument [Line Items]
Estimated fair value of debt		$ 102,300,000	$ 148,600,000
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing availability under revolving credit facility	$ 200,000,000
Minimum liquidity	$ 25,000,000
Number of hotels acquired | hotel	6
Number of hotels in ownership by Company (in hotels) | hotel	24
Floor interest rate	0.50%
Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing availability under revolving credit facility	$ 250,000,000
Revolving Credit Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	2.50%
Revolving Credit Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	3.00%

Debt - Future Scheduled Princip

Debt - Future Scheduled Principal Payments of Debt Obligations (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
2021 (remaining three months)	$ 2,450
2022	79,249
2023	117,876
2024	328,898
2025	15,934
Thereafter	0
Total debt before unamortized debt issue costs	544,407	$ 609,741
Unamortized mortgage debt issue costs	(710)	(971)
Total debt outstanding	$ 543,697	$ 608,770

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Contingency [Line Items]
Tax expense	$ 0	$ 0	$ 0	$ 0
TRS
Income Tax Contingency [Line Items]
Percentage of voting interests of gross deferred tax asset			100.00%

Dividends Declared and Paid (De

Dividends Declared and Paid (Details) - $ / shares	Jun. 30, 2021	Feb. 28, 2020	Jan. 31, 2020	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Distributions declared per common share (in dollars per share)		$ 0.11	$ 0.11		$ 0	$ 0	$ 0.22	$ 0	$ 0.22	$ 0.22
LTIP units, distributions per unit (in dollars per share)		$ 0.11	$ 0.11				$ 0.22		$ 0.22	$ 0.22
Series A Preferred Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock, dividends per share, declared (in dollars per share)				$ 0.48307
Preferred stock distribution rate	6.625%

Shareholders' Equity (Details)

Shareholders' Equity (Details)	Jun. 30, 2021USD ($)$ / sharesshares	Mar. 05, 2021USD ($)	Dec. 22, 2020USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2021USD ($)vote$ / sharesshares	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)vote$ / sharesshares	Sep. 30, 2020USD ($)	Dec. 31, 2020$ / sharesshares
Class of Stock [Line Items]
Common shares, shares authorized (in shares) | shares					500,000,000		500,000,000		500,000,000
Common shares, par value (in dollars per share) | $ / shares					$ 0.01		$ 0.01		$ 0.01
Number of votes per common share | vote					1		1
Common shares, shares outstanding (in shares) | shares					48,767,816		48,767,816		46,973,473
Proceeds from issuance of common shares							$ 24,598,000	$ 166,000
Preferred shares, shares authorized (in shares) | shares					100,000,000		100,000,000		100,000,000
Preferred shares, par value (in dollars per share) | $ / shares					$ 0.01		$ 0.01		$ 0.01
Preferred shares, shares issued (in shares) | shares					4,800,000		4,800,000		0
Proceeds from issuance of preferred shares							$ 120,000,000	0
Preferred shares, shares outstanding (in shares) | shares					4,800,000		4,800,000		0
Preferred dividends					$ 1,988,000	$ 0	$ 1,988,000	$ 0
Stock redemption, exchange ratio							1
Vested operating partnership units held by current and former employees (in shares) | shares					976,102,000		976,102,000
ATM Plan
Class of Stock [Line Items]
Stock purchase plan, authorized amount				$ 100,000,000
Registration statement filed, amount		$ 100,000,000
Stock purchase plan, remaining authorized repurchase amount					$ 77,500,000		$ 77,500,000
DRSP Plan
Class of Stock [Line Items]
Stock purchase plan, authorized amount				$ 50,000,000
Registration statement filed, amount			$ 50,000,000
Stock purchase plan, remaining authorized repurchase amount					$ 48,000,000		$ 48,000,000
Shares issued (in shares) | shares					1,261
Proceeds from issuance of common shares					$ 15,000
Stock purchase plan, average price per share (in dollars per share) | $ / shares					$ 11.91
Series A Preferred Shares
Class of Stock [Line Items]
Preferred shares, par value (in dollars per share) | $ / shares	$ 0.01
Preferred shares, shares issued (in shares) | shares	4,800,000
Preferred stock distribution rate	6.625%
Proceeds from issuance of preferred shares	$ 115,900,000
Liquidation preference per share (in dollars per share) | $ / shares	$ 25
Liquidation preference per share per annum (in dollars per share) | $ / shares	$ 1.65625
Change of control, redemption option, period following change of control	120 days
Share cap (in shares) | shares	3.701

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net loss attributable to common shareholders	$ (3,307)	$ (18,057)	$ (9,209)	$ (72,667)
Dividends paid on unvested shares and units	0	0	0	(50)
Net loss attributable to common shareholders	$ (3,307)	$ (18,057)	$ (9,209)	$ (72,717)
Denominator:
Weighted average number of common shares - basic (in shares)	48,755,561	46,965,526	48,211,612	46,958,143
Unvested shares and units (in shares)	0	0	0	0
Weighted average number of common shares - diluted (in shares)	48,755,561	46,965,526	48,211,612	46,958,143
Basic loss per Common Share:
Net loss attributable to common shareholders per weighted average basic common share (in dollars per share)	$ (0.07)	$ (0.38)	$ (0.19)	$ (1.55)
Diluted loss per Common Share:
Net loss attributable to common shareholders per weighted average diluted common share (in dollars per share)	$ (0.07)	$ (0.38)	$ (0.19)	$ (1.55)

Equity Incentive Plan - Additio

Equity Incentive Plan - Additional Information (Details) $ / shares in Units, $ in Thousands

Mar. 01, 2021$ / sharesshares

Mar. 01, 2020shares

Mar. 01, 2019shares

Mar. 01, 2018shares

Mar. 01, 2017shares

Jan. 28, 2016shares

May 17, 2013shares

Jan. 31, 2021shares

Jan. 31, 2020shares

Sep. 30, 2021USD ($)shares

Sep. 30, 2020USD ($)

Sep. 30, 2021USD ($)shares

Sep. 30, 2020USD ($)

Dec. 31, 2020USD ($)shares

Independent Trustees

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Common share issued as compensation for services performed (in shares)

40,203

24,516

Equity Incentive Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares authorized (in shares)

3,000,000

Common shares available for issuance (in shares)

579,825

579,825

Equity Incentive Plan | Minimum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period for share awards under equity

3 years

Equity Incentive Plan | Maximum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period for share awards under equity

5 years

Restricted Stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Unrecognized compensation costs | $

$ 116

$ 116

$ 29

Weighted-average period for recognition of unrecognized compensation costs

2 years 8 months 12 days

Compensation expense, recognized | $

13

$ 7

$ 27

$ 23

Granted (in shares)

10,000

0

Long Term Incentive Plan Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted-average period for recognition of unrecognized compensation costs

1 year 10 months 24 days

Compensation expense, recognized | $

1,100

$ 1,000

$ 3,200

$ 3,400

Exchange ratio

1

Granted (in shares)

330,945

325,507

Total unrecognized compensation cost related to LTIP Units | $

$ 6,500

$ 6,500

$ 4,900

Time-Based LTIP Unit Awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Granted (in shares)

132,381

130,206

88,746

97,968

89,574

72,966

Time-Based LTIP Unit Awards | Awarded March 1, 2021

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Granted (in shares)

132,381

Performance-Based LTIP Unit Awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Granted (in shares)

198,564

195,301

133,107

146,949

134,348

39,285

Performance-Based LTIP Unit Awards | Awarded March 1, 2021

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Granted (in shares)

198,564

Grants in period, intrinsic value, amount per share (in dollars per share) | $ / shares

$ 15.91

Performance-Based LTIP Unit Awards | Awarded March 1, 2021 | Minimum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of units paid out

50.00%

Performance-Based LTIP Unit Awards | Awarded March 1, 2021 | Maximum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of units paid out

150.00%

Equity Incentive Plan - Summary

Equity Incentive Plan - Summary of Restricted Share Awards (Details) - Restricted Stock - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Number of Shares
Nonvested at beginning of the period (in shares)	1,667	5,001
Granted (in shares)	10,000	0
Vested (in shares)	0	(3,334)
Forfeited (in shares)	0	0
Nonvested at end of the period (in shares)	11,667	1,667
Weighted - Average Grant Date Fair Value
Nonvested at beginning of the period (in dollars per share)	$ 17.40	$ 18.33
Granted (in dollars per share)	11.47	0
Vested (in dollars per share)	0	18.80
Forfeited (in dollars per share)	0	0
Nonvested at end of the period (in dollars per share)	$ 12.32	$ 17.40

Equity Incentive Plan - Schedul

Equity Incentive Plan - Schedule of LTIP Unit Awards (Details) - Long Term Incentive Plan Units - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Number of Shares
Nonvested at beginning of the period (in shares)	669,609	598,320
Granted (in shares)	330,945	325,507
Vested (in shares)	(219,451)	(254,218)
Forfeited (in shares)	(16,925)	0
Nonvested at end of the period (in shares)	764,178	669,609
Weighted - Average Grant Date Fair Value
Nonvested at beginning of the period (in dollars per share)	$ 15.73	$ 18.30
Granted (in dollars per share)	14.55	13.42
Vested (in dollars per share)	16.39	18.82
Forfeited (in dollars per share)	17.02	0
Nonvested at end of the period (in dollars per share)	$ 15	$ 15.73

Equity Incentive Plan - Sched_2

Equity Incentive Plan - Schedule of Performance-Based Long-Term Incentive Plan Payout Awards (Details)	Mar. 01, 2021
Relative TSR Hurdles (Percentile)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Threshold (in percentage)	25.00%
Target (in percentage)	50.00%
Maximum (in percentage)	75.00%
Payout Percentage
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Threshold (in percentage)	50.00%
Target (in percentage)	100.00%
Maximum (in percentage)	150.00%

Equity Incentive Plan - Valuati

Equity Incentive Plan - Valuation Assumptions (Details) - $ / shares	Mar. 01, 2021	Mar. 01, 2020	Mar. 01, 2019	Mar. 01, 2018	Mar. 01, 2017	Jan. 28, 2016	Jun. 01, 2015
Outperformance Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)							183,300
Estimate Value Per Unit (in dollars per share)							$ 14.13
Volatility, percentage							26.00%
Dividend Yield, percentage							4.50%
Risk Free Interest Rate, percentage							0.95%
Time-Based LTIP Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	132,381	130,206	88,746	97,968	89,574	72,966
Estimate Value Per Unit (in dollars per share)	$ 12.52	$ 13.05	$ 18.45	$ 16.83	$ 18.53	$ 16.69
Volatility, percentage	78.00%	20.00%	21.00%	26.00%	24.00%	28.00%
Dividend Yield, percentage	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Risk Free Interest Rate, percentage	0.08%	1.06%	2.57%	2.07%	0.92%	0.79%
Performance-Based LTIP Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	198,564	195,301	133,107	146,949	134,348	39,285
Estimate Value Per Unit (in dollars per share)	$ 15.91	$ 13.66	$ 18.91	$ 17.02	$ 19.65	$ 11.09
Volatility, percentage	64.00%	20.00%	21.00%	26.00%	25.00%	30.00%
Dividend Yield, percentage	3.40%	8.10%	6.20%	6.20%	5.80%	5.80%
Risk Free Interest Rate, percentage	0.30%	0.90%	2.55%	2.37%	1.47%	1.13%

Leases - Narrative (Details)

Leases - Narrative (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2021USD ($)parkingSpace	Sep. 30, 2021USD ($)termparkingSpace
Lessee, Lease, Description [Line Items]
Fixed lease payments	$ 300,000	$ 900,000
Variable lease, payment	$ 100,000	$ 200,000
Ground Leases | Residence Inn San Diego Gaslamp
Lessee, Lease, Description [Line Items]
Number of additional terms | term		3
Periods in each additional renewal term	10 years	10 years
Operating leases, monthly payment		$ 44,400
Operating lease, periodic increase, percentage		10.00%
Periodic increase in monthly payment		5 years
Operating lease, annual supplemental rent, percentage of gross revenues (equal to)		5.00%
Operating lease, annual supplemental rent subtraction, base rent multiplier		12
Ground Leases | Hilton Garden Inn Marina del Rey, CA
Lessee, Lease, Description [Line Items]
Operating leases, monthly payment		$ 47,500
Air Rights Lease And Garage Lease | Residence Inn by Marriott New Rochelle, NY
Lessee, Lease, Description [Line Items]
Number of parking spaces occupied by hotel | parkingSpace	128	128
Quarterly rent		$ 30,000
Office Lease
Lessee, Lease, Description [Line Items]
Periods in each additional renewal term	5 years	5 years
Operating leases, term of contract	11 years	11 years
Operating leases, abatement term of contract		12 months
Maximum additional terms up to which ground lease can be extended (up to) | term		2
Minimum | Ground Leases | Hilton Garden Inn Marina del Rey, CA
Lessee, Lease, Description [Line Items]
Operating lease, periodic increase, percentage		5.00%
Maximum | Ground Leases | Hilton Garden Inn Marina del Rey, CA
Lessee, Lease, Description [Line Items]
Operating lease, periodic increase, percentage		25.00%

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Leases [Abstract]
2021 (remaining three months)	$ 516
2022	2,071
2023	2,093
2024	2,115
2025	2,186
Thereafter	66,720
Total lease payments	75,701
Less: Imputed interest	(52,865)
Present value of lease liabilities	$ 22,836	$ 23,233

Leases - Schedule of Ground, Ai

Leases - Schedule of Ground, Air Rights, Garage and Office Leases (Details) $ in Thousands	Dec. 31, 2020USD ($)
Leases [Abstract]
2021	$ 2,051
2022	2,071
2023	2,093
2024	2,115
2025	2,186
Thereafter	66,720
Total lease payments	77,236
Less: Imputed interest	(54,003)
Present value of lease liabilities	$ 23,233

Leases - Schedule of Right of U

Leases - Schedule of Right of Use Asset and Lease Liability (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Right of Use Asset
Beginning balance	$ 20,641
Amortization	(490)
Ending balance	20,151
Lease Liability
Beginning balance	23,233
Amortization	(397)
Ending balance	$ 22,836

Leases - Lease Cost (Details)

Leases - Lease Cost (Details)	Sep. 30, 2021
Leases [Abstract]
Weighted-average remaining lease term (years)	40 years 6 months 21 days
Weighted-average discount rate	6.59%

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)hotel	Sep. 30, 2020USD ($)
Other Commitments [Line Items]
Management fees recorded within hotel other operating expenses	$ 2,200	$ 1,300	$ 5,100	$ 4,200
Total hotel operating expenses	35,377	21,869	85,743	73,948
Franchise and marketing fees
Other Commitments [Line Items]
Total hotel operating expenses	$ 5,294	$ 2,876	$ 11,983	$ 9,232
Minimum
Other Commitments [Line Items]
Weighted average expiration period			10 years
Maximum
Other Commitments [Line Items]
Weighted average expiration period			30 years
Hotel Management Agreement | Island Hospitality Management Inc.
Other Commitments [Line Items]
Initial terms of management agreements			5 years
Number of renewal periods of management agreements | hotel			2
Renewal periods of management agreements			5 years
Notice period for successive renewal of agreement (no later than)			90 days
Minimum notice period for termination of management agreement			6 months
Management fee			10.00%
Incentive management fee, percentage			1.00%

Related Party Transactions (Det

Related Party Transactions (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)hotel	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)hotel	Sep. 30, 2020USD ($)	Mar. 17, 2021	Dec. 31, 2020USD ($)
Related Party Transaction [Line Items]
Management fees recorded within hotel other operating expenses	$ 2,200	$ 1,300	$ 5,100	$ 4,200
Amounts due to related party	$ 600		$ 600			$ 300
Island Hospitality Management Inc.
Related Party Transaction [Line Items]
Ownership percentage in related party owned by the company's chairman	100.00%		100.00%		52.50%
Percentage of voting interests acquired			47.50%
Number of hotels managed by related party | hotel	41		41
NorthStar Realty Finance Corp
Related Party Transaction [Line Items]
Ownership percentage in related party owned by the company's chairman	2.50%		2.50%
Ownership percentage in related party owned by third party	97.50%		97.50%
Services provided	$ 23	$ 74	$ 23	$ 74

Subsequent Events (Details)

Subsequent Events (Details)	Oct. 26, 2021USD ($)hotel	May 06, 2020USD ($)extension_option	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Subsequent Event [Line Items]
Debt amount outstanding			$ 544,407,000	$ 609,741,000
Subsequent Event
Subsequent Event [Line Items]
Number of unencumbered hotels | hotel	3
Revolving Credit Facility
Subsequent Event [Line Items]
Maximum borrowing availability under revolving credit facility		$ 200,000,000
Number of extension options | extension_option		2
Period of extension options		6 months
Debt amount outstanding			$ 70,000,000	$ 135,300,000
Revolving Credit Facility | Revolving Credit Facility
Subsequent Event [Line Items]
Maximum borrowing availability under revolving credit facility		$ 250,000,000
Revolving Credit Facility | Revolving Credit Facility | Subsequent Event
Subsequent Event [Line Items]
Number of extension options | hotel	2
Period of extension options	6 months
Debt amount outstanding	$ 227,500,000