Chatham Lodging Trust (CLDT) 10-K 26 Feb 25 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2024	Feb. 26, 2025	Jun. 30, 2024
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 408,355,012
Entity Common Stock, Shares Outstanding (in shares)		48,974,708
Documents Incorporated by Reference	Portions of the registrant's Definitive Proxy Statement for its 2025 Annual Meeting of Shareholders (to be filed with the Securities and Exchange Commission on or before A pril 30, 2025) are incorporated by reference into this Annual Report on Form 10-K in response to Part III hereof.
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Central Index Key	0001476045
Common Shares
Document Information [Line Items]
Title of 12(b) Security	Common Shares of Beneficial Interest, $0.01 par value per share
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

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Miami, Florida
Auditor Firm ID	238

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets:
Investment in hotel properties, net	$ 1,197,518	$ 1,227,633
Cash and cash equivalents	20,195	68,130
Restricted cash	9,649	17,619
Right of use asset, net	17,547	18,141
Hotel receivables (net of allowance for doubtful accounts of $300 and $280, respectively)	2,921	4,375
Deferred costs, net	4,038	4,246
Prepaid expenses and other assets	2,813	3,786
Total assets	1,254,681	1,343,930
Liabilities and Equity:
Mortgage debt, net	157,211	394,544
Revolving credit facility	110,000	0
Unsecured term loan, net	139,638	89,533
Accounts payable and accrued expenses (including $490 and $399 due to related parties, respectively)	29,621	29,255
Lease liability	20,634	20,808
Distributions payable	5,580	5,414
Total liabilities	462,684	539,554
Commitments and contingencies (see note 13)
Shareholders’ Equity:
Preferred shares, $0.01 par value, 100,000,000 shares authorized; 4,800,000 and 4,800,000 shares issued and outstanding at December 31, 2024 and 2023, respectively	48	48
Common shares, $0.01 par value, 500,000,000 shares authorized; 48,912,293 and 48,859,836 shares issued and outstanding at December 31, 2024 and 2023, respectively	489	488
Additional paid-in capital	1,046,812	1,047,176
Accumulated deficit	(289,130)	(271,651)
Total shareholders’ equity	758,219	776,061
Noncontrolling Interests:
Noncontrolling interest in operating partnership	33,778	28,315
Total equity	791,997	804,376
Total liabilities and equity	$ 1,254,681	$ 1,343,930

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Allowance for doubtful accounts related to receivables	$ 300	$ 280
Due to related party	$ 29,621	$ 29,255
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	4,800,000
Preferred shares, shares outstanding (in shares)	4,800,000	4,800,000
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)	48,912,293	48,859,836
Common shares, shares outstanding (in shares)	48,912,293	48,859,836
Related Party
Due to related party	$ 490	$ 399

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue:
Total revenue	$ 317,209	$ 311,109	$ 294,851
Expenses:
Total hotel operating expenses	181,176	175,386	160,758
Depreciation and amortization	60,741	58,254	59,350
Impairment loss	4,256	4,266	0
Property taxes, ground rent and insurance	23,709	23,507	21,210
General and administrative	18,388	17,517	17,339
Other charges	327	2,300	683
Reimbursable costs from related parties	1,105	1,283	1,326
Total operating expenses	289,702	282,513	260,666
Operating income before gain on sale of hotel properties	27,507	28,596	34,185
Gain on sale of hotel properties	5,713	18	2,268
Operating income	33,220	28,614	36,453
Interest and other income	1,712	1,534	10
Interest expense net of amounts capitalized, including amortization of deferred fees	(30,880)	(27,128)	(26,454)
Loss on early extinguishment of debt	(17)	(696)	(138)
Gain from partial lease termination	0	164	0
Income before income tax expense	4,035	2,488	9,871
Income tax expense	0	0	0
Net income	4,035	2,488	9,871
Net loss (income) attributable to non-controlling interest	131	156	(66)
Net income attributable to Chatham Lodging Trust	4,166	2,644	9,805
Preferred dividends	(7,950)	(7,950)	(7,950)
Net (loss) income attributable to common shareholders	$ (3,784)	$ (5,306)	$ 1,855
(Loss) income per common share - basic:
Net (loss) income attributable to common shareholders (in dollars per share)	$ (0.08)	$ (0.11)	$ 0.04
(Loss) income per common share - diluted:
Net (loss) income attributable to common shareholders (in dollars per share)	$ (0.08)	$ (0.11)	$ 0.04
Weighted average number of common shares outstanding:
Basic (in shares)	48,900,997	48,847,386	48,795,642
Diluted (in shares)	48,900,997	48,847,386	49,058,722
Distributions per common share (in dollars per share)	$ 0.28	$ 0.28	$ 0.07
Room
Revenue:
Total revenue	$ 290,290	$ 284,999	$ 272,265
Expenses:
Total hotel operating expenses	65,311	61,794	56,073
Food and beverage
Revenue:
Total revenue	7,737	8,124	7,303
Expenses:
Total hotel operating expenses	6,218	6,352	5,520
Other
Revenue:
Total revenue	18,077	16,703	13,958
Reimbursable costs from related parties
Revenue:
Total revenue	1,105	1,283	1,325
Telephone
Expenses:
Total hotel operating expenses	1,360	1,439	1,449
Other hotel operating
Expenses:
Total hotel operating expenses	4,127	3,712	3,488
General and administrative
Expenses:
Total hotel operating expenses	28,826	28,884	26,085
Franchise and marketing fees
Expenses:
Total hotel operating expenses	25,355	24,897	23,674
Advertising and promotions
Expenses:
Total hotel operating expenses	6,229	6,085	5,397
Utilities
Expenses:
Total hotel operating expenses	13,161	13,007	12,048
Repairs and maintenance
Expenses:
Total hotel operating expenses	16,516	15,837	14,145
Management fees paid to related parties | Related Party
Expenses:
Total hotel operating expenses	10,733	10,557	10,133
Insurance
Expenses:
Total hotel operating expenses	$ 3,340	$ 2,822	$ 2,746

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Shares	Total Shareholders’ Equity	Total Shareholders’ Equity Common Shares	Preferred Shares	Common Shares	Common Shares Common Shares	Additional Paid - In Capital	Additional Paid - In Capital Common Shares	Accumulated Deficit	Noncontrolling Interest in Operating Partnership
Beginning Balance (in shares) at Dec. 31, 2021					4,800,000	48,768,890
Beginning Balance at Dec. 31, 2021	$ 814,193		$ 797,502		$ 48	$ 487		$ 1,048,070		$ (251,103)	$ 16,691
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares pursuant to Equity Incentive Plan (in shares)						34,672
Issuance of common shares pursuant to Equity Incentive Plan	487		487			$ 1		486
Issuance of shares, net of offering costs (in shares)							4,543
Issuance of shares, net of offering costs		$ (50)		$ (50)					$ (50)
Amortization of share based compensation	5,011		38					38			4,973
Dividends declared on common shares	(3,417)		(3,417)							(3,417)
Distributions declared on LTIP units	(148)										(148)
Dividends accrued on preferred shares	(7,950)		(7,950)							(7,950)
Reallocation of noncontrolling interest	0		(1,521)					(1,521)			1,521
Net (loss) income	9,871		9,805							9,805	66
Ending Balance (in shares) at Dec. 31, 2022					4,800,000	48,808,105
Ending Balance at Dec. 31, 2022	817,997		794,894		$ 48	$ 488		1,047,023		(252,665)	23,103
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares pursuant to Equity Incentive Plan (in shares)						43,378
Issuance of common shares pursuant to Equity Incentive Plan	540		540			$ 0		540
Issuance of shares, net of offering costs (in shares)						5,896
Issuance of shares, net of offering costs	59		59					59
Issuance of restricted time-based shares (in shares)						2,457
Issuance of restricted time-based shares	0
Amortization of share based compensation	5,647		47					47			5,600
Dividends declared on common shares	(13,680)		(13,680)							(13,680)
Distributions declared on LTIP units	(725)										(725)
Dividends accrued on preferred shares	(7,950)		(7,950)							(7,950)
Reallocation of noncontrolling interest	0		(493)					(493)			493
Net (loss) income	2,488		2,644							2,644	(156)
Ending Balance (in shares) at Dec. 31, 2023					4,800,000	48,859,836
Ending Balance at Dec. 31, 2023	804,376		776,061		$ 48	$ 488		1,047,176		(271,651)	28,315
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares pursuant to Equity Incentive Plan (in shares)						43,670
Issuance of common shares pursuant to Equity Incentive Plan	471		471			$ 1		470
Issuance of shares, net of offering costs (in shares)						5,844
Issuance of shares, net of offering costs	(226)		(226)					(226)
Issuance of restricted time-based shares (in shares)						2,943
Issuance of restricted time-based shares	0
Amortization of share based compensation	5,835		41					41			5,794
Dividends declared on common shares	(13,695)		(13,695)							(13,695)
Distributions declared on LTIP units	(858)										(858)
Forfeited distributions on LTIP units	9										9
Dividends accrued on preferred shares	(7,950)		(7,950)							(7,950)
Reallocation of noncontrolling interest	0		(649)					(649)			649
Net (loss) income	4,035		4,166							4,166	(131)
Ending Balance (in shares) at Dec. 31, 2024					4,800,000	48,912,293
Ending Balance at Dec. 31, 2024	$ 791,997		$ 758,219		$ 48	$ 489		$ 1,046,812		$ (289,130)	$ 33,778

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Dividends declared on common share (in dollars per share)	$ 0.28	$ 0.28	$ 0.07
Distributions declared on LTIP units (in dollars per share)	$ 0.28	$ 0.28	$ 0.07
Common Shares
Issuance of shares, offering costs	$ 278	$ 2	$ 107

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 4,035	$ 2,488	$ 9,871
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization of investment in hotel properties	60,523	58,040	59,123
Amortization of deferred franchise fees	211	214	246
Amortization of deferred financing fees included in interest expense	1,363	1,201	1,444
Gain on sale of hotel properties	(5,713)	(18)	(2,268)
Impairment loss	4,256	4,266	0
Write-off of hotel development costs included in other charges	0	2,238	0
Loss on early extinguishment of debt	17	672	138
Loss on write-off of deferred franchise fee	50	0	0
Share based compensation	6,398	6,117	5,551
Gain from partial lease termination	0	(164)	0
Changes in assets and liabilities:
Right of use asset	593	625	688
Hotel receivables	1,324	803	(2,191)
Deferred costs	(271)	(102)	(175)
Prepaid expenses and other assets	942	(382)	(764)
Accounts payable and accrued expenses	256	1,048	460
Lease liability	(159)	(604)	(588)
Net cash provided by operating activities	73,825	76,442	71,535
Cash flows from investing activities:
Improvements and additions to hotel properties	(30,603)	(28,113)	(15,663)
Investment in hotel properties under development	0	0	(3,299)
Acquisition of hotel properties, net	(43,734)	0	(31,048)
Proceeds from sale of hotel properties, net	45,868	0	79,570
Payments of franchise application costs	(700)	0	0
Receipt of deferred key money	0	0	400
Net cash (used in) provided by investing activities	(29,169)	(28,113)	29,960
Cash flows from financing activities:
Borrowings on revolving credit facility	150,000	0	40,000
Repayments on revolving credit facility	(40,000)	0	(110,000)
Borrowings on construction loan	0	0	4,324
Repayments on construction loan	0	(39,331)	0
Borrowings on unsecured term loan	50,000	90,000	0
Repayments of mortgage debt	(297,227)	(117,742)	(9,000)
Proceeds from the issuance of mortgage debt	60,300	82,925	0
Principal payments on finance lease	(15)	0	0
Payments of financing costs	(1,066)	(1,482)	(3,388)
Proceeds from issuance of common shares	53	61	57
Distributions - common shares/units	(14,378)	(14,212)	(147)
Distributions - preferred shares	(7,950)	(7,950)	(7,950)
Net cash used in financing activities	(100,561)	(7,733)	(86,211)
Net change in cash, cash equivalents and restricted cash	(55,905)	40,596	15,284
Cash, cash equivalents and restricted cash, beginning of period	85,749	45,153	29,869
Cash, cash equivalents and restricted cash, end of period	29,844	85,749	45,153
Supplemental disclosure of cash flow information:
Cash paid for interest, net of amounts capitalized	29,480	24,900	25,298
Capitalized interest	0	0	330
Cash paid for taxes	871	930	768
Remeasurement of right of use asset from partial lease termination	0	531	0
Remeasurement of lease liability from partial lease termination	0	695	0
Common Shares
Cash flows from financing activities:
Payment of offering costs on common shares	$ (278)	$ (2)	$ (107)

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Jan. 15, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accrued distributions payable		$ 5,580	$ 5,414	$ 5,200
Accrued share based compensation		600	500	500
Accounts payable and accrued expenses		$ 1,600	$ 1,300	$ 1,500
Subsequent Event
Issuance of common shares pursuant to Equity Incentive Plan (in shares)	61,551

Organization

Organization	12 Months Ended
	Dec. 31, 2024
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 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 real estate investment trust for federal income tax purposes ("REIT"). The Company had no operations prior to the consummation of its initial public offering ("IPO") in April 2010. The net proceeds from our share offerings 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. The Company is the sole general partner of the Operating Partnership and owns 100% of the common units of limited partnership interest in the Operating Partnership ("common units"). 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 December 31, 2024, the Company owned 37 hotels with an aggregate of 5,596 (unaudited) rooms located in 16 states and the District of Columbia (unaudited). To qualify as a REIT, the Company cannot operate its hotels. Therefore, the Operating Partnership and its subsidiaries lease the Company's 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. Lease revenue from each TRS Lessee is eliminated in consolidation. The TRS Lessees have entered into management agreements with a third-party management company that provides day-to-day management for the hotels.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying 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”). These 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. The consolidated financial statements include all of the accounts of the Company, the Operating Partnership (a variable interest entity) and its wholly owned subsidiaries. All intercompany balances and transactions are eliminated in consolidation. 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. Fair Value of Financial Instruments The Company’s financial instruments include cash and cash equivalents, restricted cash, hotel receivables, accounts payable and accrued expenses, distributions payable, mortgage debt, revolving credit facility and unsecured term loan. Due to their relatively short maturities, the carrying values reported in the consolidated balance sheets for these financial instruments approximate fair value except for mortgage debt, the revolving credit facility, the construction loan, and the unsecured term loan, the fair value of which is separately disclosed in Note 6. Investment in Hotel Properties The Company allocates the purchase prices of hotel properties acquired as asset acquisitions based on the fair value of the acquired real estate, furniture, fixtures and equipment, identifiable intangible assets and assumed liabilities. In making estimates of fair value for purposes of allocating the purchase price, the Company utilizes a number of sources of information that are obtained in connection with the acquisition of a hotel property, including valuations performed by independent third parties and information obtained about each hotel property resulting from pre-acquisition due diligence. The Company’s investments in hotel properties are carried at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, generally 40 years for buildings, 20 years for land improvements, 5 to 20 years for building improvements and one Management periodically reviews its hotel properties for impairment whenever events or changes in circumstances indicate that the carrying value of the hotel properties may not be recoverable over management's estimated holding period. This estimated holding period incorporates management’s intent and ability to hold the hotel properties over the estimated holding period. Events or circumstances that may cause a review include, but are not limited to, adverse changes in the demand for lodging at the properties due to declining national or local economic conditions and/or new hotel construction in markets where the hotels are located. When such conditions exist and management has identified uncertainty surrounding the recoverability of the hotel property carrying value, management will perform an analysis to determine if the estimated undiscounted future cash flows, without interest charges, from operations and the estimated proceeds from the ultimate disposition of a hotel property exceed its carrying value. If the estimated undiscounted future cash flows are less than the carrying amount, an adjustment to reduce the carrying amount to the related hotel property's estimated fair value is recorded and an impairment loss recognized. For the year ended December 31, 2024, the Company incurred an impairment loss on one hotel property (See Note 5). For the year ended December 31, 2023, the Company incurred an impairment loss on one hotel property (See Note 5). For the year ended December 31, 2022, there were no impairment losses. For properties the Company considers held for sale, depreciation and amortization are no longer recorded, and the value of the properties is recorded at the lower of depreciated cost or fair value, less the costs to sell. If circumstances arise that were previously considered unlikely, and, as a result, the Company decides not to sell a property previously classified as held for sale, the Company will reclassify such property as held and used. Such property is measured at the lower of its carrying amount (adjusted for any depreciation and amortization expense that would have been recognized had the property been continuously classified as held and used) or fair value at the date of the subsequent decision not to sell. The Company classifies properties as held for sale when all criteria within the Financial Accounting Standards Board's ("FASB") guidance on disposal of long-lived assets are met. As of December 31, 2024 and 2023 the Company had no hotel properties that met the criteria to be presented as held for sale. Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand, demand deposits with financial institutions and short term liquid investments with an original maturity of three months or less. Cash balances in individual banks may exceed federally insurable limits. Restricted Cash Restricted cash represents purchase price deposits held in escrow for potential hotel acquisitions under contract, escrows and reserves for capital expenditures, property taxes or insurance that are required pursuant to the Company’s loans, and trapped cash held in cash management accounts for the benefit of the Company's lenders (see Note 6 for additional information relating to "cash trap" provisions). Restricted cash on the accompanying consolidated balance sheets at December 31, 2024 and 2023 is $9.6 million and $17.6 million, respectively. Hotel Receivables Hotel receivables consist of amounts owed by guests staying in the hotels and amounts due from business and group customers. An allowance for doubtful accounts is provided and maintained at a level believed to be adequate to absorb estimated probable losses. At December 31, 2024 and 2023, the allowance for doubtful accounts was $0.3 million and $0.3 million, respectively. Prepaid Expenses and Other Assets The Company’s prepaid expenses and other assets consist of prepaid insurance, prepaid property taxes, deposits and hotel supplies inventory. Deferred Costs Deferred costs consist of franchise agreement application fees for the Company’s hotels, costs associated with potential future acquisitions and loan costs related to the Company’s senior unsecured revolving credit facility. Deferred costs consisted of the following at December 31, 2024 and 2023 (in thousands): December 31, 2024 December 31, 2023 Loan costs $ 6,323 $ 6,256 Franchise fees 4,961 4,311 Other 334 102 11,618 10,669 Less accumulated amortization (7,580) (6,423) Deferred costs, net $ 4,038 $ 4,246 Franchise fees are recorded at cost and amortized over a straight-line basis over the term of the franchise agreements. For the years ended December 31, 2024, 2023 and 2022, amortization expense related to franchise fees of $0.2 million, $0.2 million and $0.2 million, respectively, is included in depreciation and amortization in the consolidated statements of operations. Amortization expense related to loan costs of $0.7 million, $0.7 million and $1.2 million for the years ended December 31, 2024, 2023 and 2022, respectively, is included in interest expense in the consolidated statements of operations. Mortgage Debt, net Mortgage debt, net consists of mortgage loans on certain hotel properties less the costs associated with acquiring those loans. Mortgage debt consisted of the following at December 31, 2024 and 2023 (in thousands): December 31, 2024 December 31, 2023 Mortgage debt $ 159,182 $ 396,109 Deferred financing costs (1,971) (1,565) Mortgage debt, net $ 157,211 $ 394,544 Deferred financing loan costs are recorded at cost and amortized over the term of the loan applying the effective interest rate method. For the years ended December 31, 2024, 2023 and 2022, amortization expense related to mortgage loan costs of $0.3 million, $0.3 million, and $0.3 million, respectively, is included in interest expense in the consolidated statements of operations. Unsecured Term Loan, net Unsecured term loan, net consists of the Company's outstanding borrowings under its unsecured term loan less the costs associated with acquiring the loan. The balances as of December 31, 2024 and 2023 were as follows (in thousands): December 31, 2024 December 31, 2023 Unsecured term loan $ 140,000 $ 90,000 Deferred financing costs (362) (467) Unsecured term loan, net $ 139,638 $ 89,533 Deferred financing loan costs are recorded at cost and amortized over the term of the loan applying the effective interest rate method. For the years ended December 31, 2024, 2023 and 2022, amortization expense related to unsecured term loan costs of $0.4 million, $0.2 million, and $0, respectively, is included in interest expense in the consolidated statements of operations. Revenue Recognition Revenue from hotel operations is recognized when rooms are occupied and when services are provided. Revenue consists of amounts derived from hotel operations, including sales from room, meeting room, gift shop, in-room movie and other ancillary amenities. Sales, use, occupancy, and similar taxes are collected and presented on a net basis (excluded from revenue) in the accompanying consolidated statements of operations. Cash received prior to customer arrival is recorded as an advanced deposit from the customer and is recognized as revenue at the time of occupancy. Room revenue is generated through short-term contracts with customers whereby customers agree to pay a daily rate for the right to occupy hotel rooms for one or more nights. Our performance obligations are fulfilled at the end of each night that the customers have the right to occupy the rooms. Room revenues are recognized daily at the contracted room rate in effect for each room night. Food and beverage revenues are generated when customers purchase food and beverage at a hotel's restaurant, bar or other facilities. Our performance obligations are fulfilled at the time that food and beverage is purchased and provided to our customers. Other revenues such as for parking, cancellation fees, meeting space or telephone services are recognized at the point in time or over the time period that the associated good or service is provided. Share-Based Compensation The Company measures compensation expense for the restricted share awards based upon the fair market value of its common shares at the date of grant. The Company measures compensation expense for the LTIP and Class A Performance units based upon the Monte Carlo approach using volatility, dividend yield and a risk free interest rate in the valuation. Compensation expense is recognized on a straight-line basis over the vesting period and is included in general and administrative expense in the accompanying consolidated statements of operations. The Company pays dividends on vested and non-vested restricted shares, except for performance-based shares, for which dividends on unvested shares are not paid until those shares are vested. The Company has also issued Class A Performance LTIP units from time to time as part of its compensation practices. Prior to vesting, holders of Class A Performance LTIP Units will not be entitled to vote their Class A Performance LTIP units. In addition, under the terms of the Class A Performance LTIP units, a holder of a Class A Performance LTIP unit will generally (i) be entitled to receive 10% of the distributions made on a common unit of the Operating Partnership during the period prior to vesting of such Class A Performance LTIP unit (the “Pre-Vesting Distributions”), (ii) be entitled, upon the vesting of such Class A Performance LTIP unit, to receive a special one-time “catch-up” distribution equal to the aggregate amount of distributions that were paid on a common unit during the period prior to vesting of such Class A Performance LTIP unit minus the aggregate amount of Pre-Vesting Distributions paid on such Class A Performance LTIP unit, and (iii) be entitled, following the vesting of such Class A Performance LTIP unit, to receive the same amount of distributions paid on a common unit of the Operating Partnership. Earnings Per Share A two class method is used to determine earnings per share. Basic earnings per share ("EPS") is computed by dividing net income (loss) available for common shareholders, adjusted for dividends on unvested share grants, by the weighted average number of common shares outstanding for the period. Diluted EPS is computed by dividing net income (loss) available for common shareholders, adjusted for dividends or distributions, on unvested share grants and LTIP units, by the weighted average number of common shares outstanding plus potentially dilutive securities such as share grants or shares issuable in the event of conversion of common units. No adjustment is made for shares that are anti-dilutive during the period. The Company’s restricted share awards and LTIP units that are subject solely to time-based vesting conditions are entitled to receive dividends or distributions on the Company's common shares or the Operating Partnership's common units, respectively, if declared. In addition, dividends on the Class A Performance LTIP units are paid the equivalent of 10% of the declared dividends on the Company's common shares. The rights to these dividends or distributions declared are non-forfeitable. As a result, the unvested restricted shares and LTIP units that are subject solely to time-based vesting conditions, as well as 10% of the unvested Class A Performance LTIP units, qualify as participating securities requiring the allocation of earnings under the two-class method to calculate EPS. The percentage of earnings allocated to these participating securities is based on the proportion of the weighted average of these outstanding participating securities to the sum of the basic weighted average common shares outstanding and the weighted average of these outstanding participating securities. Basic EPS is then computed by dividing income less earnings allocable to these participating securities by the basic weighted average number of shares outstanding. Diluted EPS is computed similar to basic EPS, except the weighted average number of shares outstanding is increased to include the effect of potentially dilutive securities. Income Taxes The Company elected to be taxed as a REIT for federal income tax purposes. In order to qualify as a REIT under the Internal Revenue Code of 1986, as amended, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its annual REIT taxable income to its shareholders (which is computed without regard to the dividends paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax to the extent the Company distributes its REIT taxable income to its shareholders. If the Company fails to qualify as a REIT in any taxable year, the Company will be subject to federal income tax on its REIT taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four The Company leases its wholly owned hotels to TRS Lessees, which are wholly owned by the Company’s taxable REIT subsidiary (a “TRS”) which, in turn is wholly owned by the Operating Partnership. The TRS is subject to federal and state income taxes and the Company accounts for taxes, where applicable, in accordance with the provisions of FASB Accounting Standards Codification 740 using the asset and liability method which recognizes deferred tax assets and liabilities for future tax consequences arising from differences between financial statement carrying amounts and income tax bases. The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases, and for net operating loss, capital loss and tax credit carryforwards. The deferred tax assets and liabilities are measured using the enacted income tax rates in effect for the year in which those temporary differences are expected to be realized or settled. The effect on the deferred tax assets and liabilities from a change in tax rates is recognized in earnings in the period when the new rate is enacted. However, deferred tax assets are recognized only to the extent that it is more likely than not that they will be realized based on consideration of all available evidence, including the future reversals of existing taxable temporary differences, future projected taxable income and tax planning strategies. Valuation allowances are provided if, based upon the weight of the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company performs an annual review for any uncertain tax positions and, if necessary, will record the expected future tax consequences of uncertain tax positions in the consolidated financial statements. As of December 31, 2024, the Company is no longer subject to U.S federal income tax examinations for years before 2021 and with few exceptions to state examinations before 2021. The Company evaluates whether a tax position of the Company is more likely than not to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. For tax positions meeting the more likely than not threshold, the tax amount recognized in the financial statements is reduced by the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant taxing authority. The Company has reviewed its tax positions for open tax years and has concluded no provision for income taxes is required in the Company's consolidated financial statements as of December 31, 2024. Interest and penalties related to uncertain tax benefits, if any, in the future will be recognized as operating expense. Segment Information Management evaluates the Company's hotels as a single reportable segment as a result of aggregating multiple operating segments, because all of the Company's hotels have similar economic characteristics and provide similar services to similar types of customers (See Note 15). Recently Issued Accounting Standards In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting - Improvements to Reportable Segment Disclosures ("ASU 2023-07"). The guidance requires incremental disclosures related to a public entity’s reportable segments. ASU 2023-07 is effective for public entities for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024, with early adoption permitted. The Company adopted this ASU during the year ended December 31, 2024, and has made the required disclosures herein (See Note 15).

Acquisition of Hotel Properties

Acquisition of Hotel Properties	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisition of Hotel Properties	Acquisition of Hotel Properties On May 30, 2024, the Company acquired the Home2 Suites Phoenix Downtown ("Home2 Phoenix") hotel property in Phoenix, AZ for $43.3 million. Based on the terms of the acquisition and corresponding lease, the transaction qualifies as a finance lease for which the Company has recorded right-of-use ("ROU") assets and a lease liability (see Note 12). The Company's ROU asset balance includes $0.3 million related to its lease liability and property acquisition costs of $0.1 million, which are all recorded within Investment in hotel properties, net. On March 8, 2022, the Company acquired the Hilton Garden Inn Destin Miramar Beach ("HGI Destin") hotel property in Miramar Beach, FL for $31.0 million. Property acquisition costs of $48 thousand were capitalized in 2022. The Company allocated the purchase price of each hotel property acquired based on the estimated fair values of the assets on the date of acquisition. The value of the assets acquired was primarily based on a sales comparison approach (for land) and a depreciated replacement cost approach (for building and improvements and furniture, fixtures and equipment). The sales comparison approach uses inputs of recent land sales in the respective hotel markets. The depreciated replacement cost approach uses inputs of both direct and indirect replacement costs using a nationally recognized authority on replacement cost information as well as the age, square footage and number of rooms of the respective assets.

Disposition of Hotel Properties

Disposition of Hotel Properties	12 Months Ended
	Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Disposition of Hotel Properties	Disposition of Hotel Properties On December 16, 2024, the Company sold the Homewood Suites by Hilton Minneapolis-Mall of America ("HWS Bloomington") hotel property in Bloomington, MN for $13.8 million and recognized a loss on sale of the hotel property of $0.8 million. On December 6, 2024, the Company sold the Homewood Suites by Hilton Orlando-Maitland ("HWS Maitland") hotel property in Maitland, FL for $15.5 million and recognized a gain on sale of the hotel property of $6.7 million. On January 9, 2024, the Company sold the Hilton Garden Inn Denver Tech Center ("HGI Denver Tech") hotel property in Denver, CO for $18.0 million and recognized a loss on sale of the hotel property of $0.2 million. On May 13, 2022, the Company sold a portfolio of three hotel properties, the Homewood Suites Dallas-Market Center ("HWS Dallas") hotel property in Dallas, TX, the Courtyard Houston West University ("CY Houston West U") hotel property in Houston, TX, and the Residence Inn Houston West University ("RI Houston West U") hotel property in Houston, TX, for $57.0 million, and recognized a gain on sale of the hotel properties of $1.8 million. Proceeds from the sale were used to repay amounts outstanding on the Company's revolving credit facility. On May 6, 2022, the Company sold the Hilton Garden Inn Boston-Burlington ("HGI Burlington") hotel property in Burlington, MA for $23.2 million and recognized a gain on sale of the hotel property of $0.5 million. Proceeds from the sale were used to repay amounts outstanding on the Company's revolving credit facility. The sales 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.

Investment in Hotel Properties

Investment in Hotel Properties	12 Months Ended
	Dec. 31, 2024
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 December 31, 2024 and 2023 consisted of the following (in thousands): December 31, 2024 December 31, 2023 Land and improvements $ 280,415 $ 289,671 Building and improvements 1,232,438 1,274,970 Furniture, fixtures and equipment 107,947 108,222 Finance lease assets 43,760 — Renovations in progress 17,232 15,138 1,681,792 1,688,001 Less accumulated depreciation and amortization (484,274) (460,368) Investment in hotel properties, net $ 1,197,518 $ 1,227,633 During the year ended December 31, 2024, the Company recorded an impairment loss of $4.3 million on a hotel property which is under contract to be sold. The Company wrote down the value of the hotel property to its estimated fair value which approximated its estimated selling price. During the year ended December 31, 2023, the Company recorded an impairment loss of $4.3 million on the HGI Denver Tech hotel property to write down the hotel property to estimated fair value which approximated its estimated selling price. The HGI Denver Tech hotel property was sold on January 9, 2024. There were no impairments recorded during the year ended December 31, 2022. Investment in hotel properties under development On January 24, 2022, the Company opened the newly developed Home2 Suites by Hilton Woodland Hills Los Angeles ("Home2 Woodland Hills"). We incurred $70.9 million of costs to develop the hotel, which includes $6.6 million of land acquisition costs and $64.3 million of other development costs. During the year ended December 31, 2023, the Company wrote-off $2.2 million of previous expenditures related to the development of a hotel in California that the Company decided to no longer pursue. The write-off expense is included in other charges in the consolidated statements of operations.

Debt

Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt The Company's mortgage loans are collateralized by first-mortgage liens on certain of the Company's properties. The mortgages are non-recourse except for instances of fraud or misapplication of funds. Debt consisted of the following (in thousands): Loan/Collateral Interest Rate Maturity Date December 31, 2024 Balance Outstanding as of December 31, 2024 December 31, Revolving Credit Facility (1) 6.66 % October 28, 2026 $ — $ 110,000 $ — Unsecured Term Loan (2) 6.75 % October 28, 2025 — 140,000 90,000 Residence Inn by Marriott Garden Grove, CA 4.79 % April 6, 2024 — — 29,496 Residence Inn by Marriott Silicon Valley I, CA 4.64 % July 1, 2024 — — 60,134 Residence Inn by Marriott Silicon Valley II, CA 4.64 % July 1, 2024 — — 65,609 Residence Inn by Marriott San Mateo, CA 4.64 % July 1, 2024 — — 45,100 Residence Inn by Marriott Mountain View, CA 4.64 % July 1, 2024 — — 35,171 Hilton Garden Inn Marina del Rey, CA 4.68 % July 6, 2024 — — 19,023 Homewood Suites by Hilton Billerica, MA 4.32 % December 6, 2024 — — 14,481 Hampton Inn & Suites Houston-Medical Center, TX 4.25 % January 6, 2025 13,620 15,957 16,338 Courtyard by Marriott Dallas, TX (3) 7.61 % September 11, 2028 39,404 24,500 24,500 Hyatt Place Pittsburgh, PA (4) 7.29 % June 11, 2029 29,830 23,300 — Residence Inn by Marriott Austin, TX (5) 7.42 % September 6, 2033 33,671 20,850 20,850 TownePlace Suites by Marriott Austin, TX (5) 7.42 % September 6, 2033 30,092 19,075 19,075 Courtyard by Marriott Summerville, SC (6) 7.33 % September 11, 2033 18,175 9,000 9,000 Residence Inn by Marriott Summerville, SC (6) 7.33 % September 11, 2033 16,908 9,500 9,500 SpringHill Suites by Marriott Savannah, GA (7) 6.70 % June 6, 2034 32,579 22,000 27,832 Hampton Inn & Suites Exeter, NH (7) 6.70 % June 11, 2034 12,132 15,000 — Total debt before unamortized debt issue costs $ 226,411 $ 409,182 $ 486,109 Unamortized term loan and mortgage debt issue costs (2,332) (2,032) Total debt outstanding $ 406,850 $ 484,077 1. The interest rate for the revolving credit facility is variable and based on one-month term secured overnight financing rate (" SOFR 2. The interest rate for the unsecured term loan is variable and based on one-month term SOFR plus a spread of 1.45% to 2.20% based on the Company's leverage and a credit spread adjustment of 0.10%. 3. On August 30, 2023, a subsidiary of Chatham entered into an agreement with Wells Fargo Bank to obtain a $24.5 million loan secured by the Courtyard by Marriott Dallas Downtown. The loan has a term of five years, carries a fixed interest rate of 7.61%, and is interest-only for the duration of the loan. 4. On May 31, 2024, a subsidiary of Chatham entered into an agreement with Wells Fargo Bank to obtain a $23.3 million loan secured by the Hyatt Place Pittsburgh. The loan has a term of five years, carries a fixed interest rate of 7.29%, and is interest-only for its duration. 5. On August 16, 2023, two subsidiaries of Chatham entered into two agreements with Barclays Capital Real Estate to obtain a $20.9 million loan and a $19.1 million loan secured by the Residence Inn by Marriott Austin and the TownePlace Suites by Marriott Austin, respectively. Each loan has a term of ten years, carries a fixed interest rate of 7.42%, and is interest-only for the first five years before amortizing based upon a 30-year amortization schedule. 6. On August 31, 2023, two subsidiaries of Chatham entered into two agreements with Wells Fargo Bank to obtain a $9.0 million loan and a $9.5 million loan secured by the Courtyard by Marriott Summerville and the Residence Inn by Marriott Summerville, respectively. Each loan has a term of ten years, carries a fixed interest rate of 7.33%, and is interest-only for the duration of the loan. 7. On June 6, 2024, two subsidiaries of Chatham entered into two agreements with Barclays Capital Real Estate and Wells Fargo Bank to obtain a $22.0 million loan secured by the SpringHill Suites Savannah and a $15.0 million loan secured by the Hampton Inn & Suites Exeter. Each loan has a term of ten years, carries a fixed interest rate of 6.70%, and is interest-only for its duration. On October 28, 2022, the Company entered into a $215.0 million unsecured revolving credit facility and a $90.0 million unsecured delayed-draw term loan facility that replaced the Company’s previous $250 million revolving credit facility that was scheduled to mature on March 8, 2023. The revolving credit facility has an initial maturity of October 28, 2026 and provides two six-month extension options. The unsecured delayed-draw term loan facility has an initial maturity of October 28, 2025 and provides two one-year extension options. On December 19, 2022, the Company executed an amendment to its unsecured revolving credit facility, increasing commitments by $45.0 million for a total borrowing capacity of $260.0 million. On May 3, 2024, the Company amended its funded unsecured term loan to increase its size from $90.0 million to $140.0 million, its current balance outstanding as of December 31, 2024. At December 31, 2024 and 2023, the Company had $250.0 million and $90.0 million, respectively, of outstanding borrowings under its revolving credit facility and unsecured term loan. At December 31, 2024, the maximum remaining borrowing availability under the combined facilities was $150.0 million. During the year ended December 31, 2024, the Company repaid the maturing mortgage loans of $29.3 million on the Residence Inn Garden Grove hotel property, $34.9 million on the Residence Inn Mountain View hotel property, $27.6 million on the SpringHill Suites Savannah hotel property, $59.5 million on the Residence Inn Silicon Valley I hotel property, $65.0 million on the Residence Inn Silicon Valley II hotel property, $44.7 million on the Residence Inn San Mateo hotel property, $18.8 million on the Hilton Garden Inn Marina del Rey hotel property, and $14.2 million on the Homewood Suites Billerica hotel property. During the year ended December 31, 2023, the Company repaid the $39.3 million construction loan on the Home2 Woodland Hills hotel property and the maturing mortgage loans of $14.4 million on the Homewood Suites San Antonio hotel property, $19.7 million on the Residence Inn Tysons hotel property, $16.0 million on the Courtyard Houston hotel property, $19.7 million on the Hyatt Place Pittsburgh hotel property, and $40.5 million on the Residence Inn Bellevue hotel property. The Company utilized cash, borrowings under its unsecured credit facility and unsecured term loan, and proceeds from its eight new mortgage loans to repay these loans. 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 December 31, 2024 and 2023 was $164.8 million and $396.0 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 a similar maturity and that is classified within level 3 of the fair value hierarchy. As of December 31, 2024, the Company’s variable rate debt consisted of borrowings under its revolving credit facility and its unsecured term loan. The estimated fair value of the Company’s variable rate debt as of December 31, 2024 and 2023 was $250.0 million and $90.0 million, respectively. The Company's 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 the 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 December 31, 2024, one of our mortgage debt lenders has enforced cash trap provisions resulting in $0.2 million of restricted cash. The Company does not expect that such cash traps will affect its ability to satisfy its short-term liquidity requirements. Future scheduled principal payments of debt obligations as of December 31, 2024, for each of the next five calendar years and thereafter are as follows (in thousands): Amount 2025 $ 155,957 2026 110,000 2027 — 2028 24,590 2029 23,681 Thereafter 94,954 Total debt before unamortized debt issue costs $ 409,182 Unamortized mortgage debt issue costs (2,332) Total debt outstanding $ 406,850 Accounting for Derivative Instruments The Company had interest rate cap agreements to hedge against interest rate fluctuations related to the construction loan for the Home2 Woodland Hills hotel property. The Company recorded its derivative instruments on the balance sheet at their estimated fair values and categorized the fair value measurement of these assets as Level 2. 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 were not designated as a hedge but to eliminate the incremental cost to the Company if the one-month LIBOR consolidated statements of operations. During the year ended December 31, 2023, the Company terminated its interest rate caps related to the construction loan when the loan was repaid.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company recorded no income tax expense during the years ended December 31, 2024, 2023, and 2022. The difference between income tax expense and the amount computed by applying the statutory federal income tax rate to the combined income of the Company's TRS before taxes were as follows (dollars in thousands): For the year ended December 31, 2024 2023 2022 Book income (loss) before income taxes of the TRS $ 2,905 $ (7,309) $ (12,935) Statutory rate of 21% $ 610 $ (1,535) $ (2,716) Effect of state and local income taxes, net of federal tax benefit — (245) (450) Permanent adjustments 21 13 10 Change in valuation allowance (1,051) 1,579 2,971 Valuation allowance release — — — Other 420 188 185 Total income tax (benefit) expense $ — $ — $ — Effective tax rate — % — % — % At December 31, 2024 and 2023, the Company had valuation allowances against certain deferred tax assets totaling $19.3 million and $19.7 million, respectively. The decrease in the valuation allowance was primarily from the net operating income during the year. The tax effect of each type of temporary difference and carry forward that gives rise to the deferred tax asset as of December 31, 2024 and 2023 are as follows (in thousands): For the year ended December 31, 2024 2023 Gross deferred tax assets: Allowance for doubtful accounts $ 74 $ 71 Accrued compensation 375 179 Net operating loss 18,893 19,495 Gross deferred tax assets $ 19,342 $ 19,745 Less: Valuation Allowance $ (19,342) $ (19,745) Total deferred tax assets net of valuation allowance $ — $ — Gross deferred tax liabilities: Total book/tax difference in partnership $ — $ — Gross deferred tax liabilities: $ — $ — Net, deferred tax assets: $ — $ — 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 net deferred tax assets. The Company's TRS continues to have cumulative three-year taxable losses. As of December 31, 2024, the TRS continues to recognize a full valuation allowance equal to 100% of the net deferred tax assets. Management will continue to monitor the need for a valuation allowance. The TRS has income tax NOL carryforwards for Federal and various states of approximately $73.6 million and $64.5 million, respectively. The loss carryforwards begin to expire starting in 2038 for Federal tax purposes and in 2031 and thereafter for state tax purposes.

Dividends Declared and Paid

Dividends Declared and Paid	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Dividends Declared and Paid	Dividends Declared and Paid Common Dividends The Company declared total common share dividends of $0.28 per share and distributions on LTIP units of $0.28 per unit during the year ended December 31, 2024. The Company declared total common share dividends of $0.28 per share and distributions on LTIP units of $0.28 per unit during the year ended December 31, 2023. The dividends and distributions and their tax characterization for the years ended December 31, 2024 and 2023 were as follows: Record Payment Common LTIP Taxable Ordinary Income Return of Capital Section 199A Dividends March 3/28/2024 4/15/2024 0.07 0.07 0.05392 0.01608 0.05392 June 6/28/2024 7/15/2024 0.07 0.07 0.05392 0.01608 0.05392 September 9/30/2024 10/15/2024 0.07 0.07 0.05392 0.01608 0.05392 December 12/31/2024 1/15/2025 0.07 0.07 0.05392 0.01608 0.05392 Total 2024 $ 0.28 $ 0.28 $ 0.21568 $ 0.06432 $ 0.21568 Record Payment Common LTIP Taxable Ordinary Income Return of Capital Section 199A Dividends March 3/31/2023 4/17/2023 0.07 0.07 0.07 — 0.07 June 6/30/2023 7/17/2023 0.07 0.07 0.07 — 0.07 September 9/29/2023 10/16/2023 0.07 0.07 0.07 — 0.07 December 12/29/2023 1/16/2024 0.07 0.07 0.07 — 0.07 Total 2023 $ 0.28 $ 0.28 $ 0.28 $ — $ 0.28 For the year ended December 31, 2024, 77.03% of the distributions paid to common shareholders were considered ordinary income and 22.97% of the distributions paid to common shareholders were considered a return of capital. For the year ended December 31, 2023, 100.0% of the distributions paid to common shareholders were considered ordinary income. Preferred Dividends During the years ended December 31, 2024 and 2023, the Company declared total dividends of $1.65624 and $1.65624, respectively, per share of 6.625% Series A Cumulative Redeemable Preferred Shares. The preferred dividends and their tax characterization for the years ended December 31, 2024 and 2023 were as follows: Record Payment Dividend Per Preferred Share Taxable Ordinary Income Return of Capital Section 199A Dividends March 3/28/2024 4/15/2024 $ 0.41406 $ 0.41406 $ — $ 0.41406 June 6/28/2024 7/15/2024 0.41406 0.41406 — 0.41406 September 9/30/2024 10/15/2024 0.41406 0.41406 — 0.41406 December 12/31/2024 1/15/2025 0.41406 0.41406 — 0.41406 Total 2024 $ 1.65624 $ 1.65624 $ — $ 1.65624 Record Payment Dividend Per Preferred Share Taxable Ordinary Income Return of Capital Section 199A Dividends March 3/31/2023 4/17/2023 $ 0.41406 $ 0.41406 $ — $ 0.41406 June 6/30/2023 7/17/2023 0.41406 0.41406 — 0.41406 September 9/29/2023 10/16/2023 0.41406 0.41406 — 0.41406 December 12/29/2023 1/16/2024 0.41406 0.41406 — 0.41406 Total 2023 $ 1.65624 $ 1.65624 $ — $ 1.65624 For the year ended December 31, 2024, 100.0% of the distributions paid to preferred shareholders were considered ordinary income. For the year ended December 31, 2023, 100.0% of the distributions paid to preferred shareholders were considered ordinary income.

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2024
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 December 31, 2024, 48,912,293 common shares were outstanding. In December 2017, the Company established a $50 million dividend reinvestment and stock purchase plan (the "DRSPP") which renewed in December 2020 and renewed again in January 2024. Under the DRSPP, shareholders may purchase additional common shares by reinvesting some or all of the cash dividends received on common shares. Shareholders may also make optional cash purchases of common shares subject to certain limitations detailed in the prospectus for the DRSPP. During the year ended December 31, 2024, the Company issued 5,844 common shares under the DRSPP at a weighted average price of $9.15, which generated $53 thousand of proceeds. As of December 31, 2024, there was approximately $49.9 million in common shares available for issuance under the DRSPP. In January 2021, the Company established an "at-the-market" equity offering program (the "ATM Program") whereby, from time to time, the Company may publicly offer and sell its common shares having an aggregate 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 deemed to be "at-the-market" offerings as defined in Rule 415 under the Securities Act of 1933, as amended. 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 act as sales agents under the ATM Program. The Company did not issue any shares under the ATM Program during the year ended December 31, 2024. As of December 31, 2024, there was approximately $77.5 million in common shares available for issuance under the ATM Program. Preferred Shares The Company is authorized to issue up to 100,000,000 preferred shares, $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 $1.65624 per annum per Series A Preferred Share. Distributions on the Series A Preferred Shares are 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 Series A 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 Series A Preferred Shares upon a change of control, the holders of the Series A 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 December 31, 2024, 4,800,000 Series A Preferred Shares were issued and outstanding. During the year ended December 31, 2024, the Company paid preferred share dividends of $8.0 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 December 31, 2024, there were 1,909,342 vested Operating Partnership LTIP units held by current and former employees.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2024
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. For the years ended December 31, 2024, 2023 and 2022, the Company excluded 414,635, 157,641 and zero, respectively, of unvested shares and units as their effect would have been anti-dilutive. 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 year ended December 31, 2024 2023 2022 Numerator: Net (loss) income attributable to common shareholders $ (3,784) $ (5,306) $ 1,855 Dividends paid on unvested shares and units (127) (110) (25) Net (loss) income attributable to common shareholders $ (3,911) $ (5,416) $ 1,830 Denominator: Weighted average number of common shares - basic 48,900,997 48,847,386 48,795,642 Effect of dilutive securities: Unvested shares and units — — 263,080 Weighted average number of common shares - diluted 48,900,997 48,847,386 49,058,722 Basic (loss) income per common share: Net (loss) income attributable to common shareholders per weighted average basic common share $ (0.08) $ (0.11) $ 0.04 Diluted (loss) income per common share: Net (loss) income attributable to common shareholders per weighted average diluted common share $ (0.08) $ (0.11) $ 0.04

Equity Incentive Plan

Equity Incentive Plan	12 Months Ended
	Dec. 31, 2024
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. 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 on May 24, 2022 to increase the maximum number of shares available under the plan by 1,600,000 shares and extend the term of the plan to March 22, 2032. 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 years ended December 31, 2024, 2023 and 2022 is as follows: December 31, 2024 December 31, 2023 December 31, 2022 Number of Shares Weighted - Average Grant Date Fair Value 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 5,789 $ 11.78 6,666 $ 11.47 10,000 $ 11.47 Granted 2,943 10.20 2,457 12.21 — — Vested (4,151) 11.62 (3,334) 11.47 (3,334) 11.47 Unvested at end of the period 4,581 $ 10.91 5,789 $ 11.78 6,666 $ 11.47 As of December 31, 2024 and 2023, there were $33 thousand and $45 thousand, respectively, of unrecognized compensation costs related to restricted share awards. As of December 31, 2024, these costs were expected to be recognized over a weighted–average period of approximately 1.8 years. For the years ended December 31, 2024, 2023 and 2022, the Company recognized approximately $42 thousand, $47 thousand and $38 thousand, respectively, of expense related to the restricted share awards. This expense is included in general and administrative expenses in the accompanying consolidated statements of operations. 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 years ended December 31, 2024, 2023 and 2022 is as follows: December 31, 2024 December 31, 2023 December 31, 2022 Number of Weighted - Number of Weighted - Number of Weighted - Non-vested at beginning of the period 999,955 $ 15.37 905,525 $ 15.03 764,178 $ 15.00 Granted 512,264 11.18 466,988 14.36 380,004 16.08 Vested (322,025) 14.03 (372,558) 13.27 (238,657) 16.61 Forfeited (50,630) 15.02 — — — — Non-vested at end of period 1,139,564 $ 13.88 999,955 $ 15.37 905,525 $ 15.03 Time-Based LTIP Awards On March 1, 2024, the Company’s Operating Partnership, upon the recommendation of the Compensation Committee, granted 204,909 time-based awards (the “2024 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 2024 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, 2024, the Company’s Operating Partnership, upon the recommendation of the Compensation Committee, also granted 307,355 performance-based awards (the "2024 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 $12.42 per 2024 Performance-Based LTIP Unit Award, which takes into account that the number of units that ultimately may vest will depend on the achievement of long-term market-based TSR criteria. The 2024 Performance-Based LTIP Unit Awards have an absolute negative TSR modifier which may reduce payout percentages if the absolute TSR over the measurement period is negative. The 2024 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, 2024 and ending on February 28, 2027. The 2024 Performance-Based LTIP Unit Awards, if earned, will be paid out between 50% and 200% of target value as follows: Relative TSR Hurdles (Percentile) Payout Percentage Threshold 25th 50% Target 55th 100% Maximum 80th 200% 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 the 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 the LTIP units included discounts for illiquidity; expectations for future dividends; risk free interest rates; stock volatility; and economic environment and market conditions. The grant date fair value 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 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 (1) 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 (2) 3/1/2021 198,564 $15.91 64% 3.4% 0.30% 2022 Time-Based LTIP Unit Awards 3/1/2022 152,004 $12.33 80% —% 1.01% 2022 Performance-Based LTIP Unit Awards 3/1/2022 228,000 $18.58 66% 3.5% 1.44% 2023 Time-Based LTIP Unit Awards 3/1/2023 171,171 $11.11 37% —% 5.11% 2023 Performance-Based LTIP Unit Awards 3/1/2023 256,757 $16.64 69% 3.5% 4.61% 2024 Time-Based LTIP Unit Awards 3/1/2024 204,909 $9.33 35% —% 4.92% 2024 Performance-Based LTIP Unit Awards 3/1/2024 307,355 $12.42 35% 2.6% 4.32% (1) In February 2023, following the end of the measurement period, the Company’s TSR met certain criteria and based on the Company’s TSR over the measurement period, 234,361 LTIP units vested. (2) In February 2024, following the end of the measurement period, the Company’s TSR met certain criteria and based on the Company’s TSR over the measurement period, 170,173 LTIP units vested. The Company recorded $5.8 million, $5.6 million and $5.0 million in compensation expense related to the LTIP units for years ended December 31, 2024, 2023 and 2022, respectively. As of December 31, 2024 and 2023, there was $6.8 million and $7.1 million, respectively, of total unrecognized compensation cost related to LTIP units. This cost is expected to be recognized over approximately 1.7 years, which represents the weighted average remaining vesting period of the LTIP units. Board of Trustee Share Compensation For 2024, 2023 and 2022, each independent trustee was compensated $135 thousand, $120 thousand, and $120 thousand, respectively, for their services. Each trustee may elect to receive up to 100% of their compensation in the form of shares, but must receive at least 59% in the form of shares. In January 2024, 2023 and 2022, the Company issued 43,670, 43,378 and 34,672 common shares, respectively, to its independent trustees as compensation for services performed in 2023, 2022 and 2021, respectively. The quantity of shares was calculated based on the average of the closing price for the Company’s common shares on the NYSE for the last ten

Leases

Leases	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	Leases The Company is the lessee under ground, air rights, garage and office lease agreements for certain of its properties. The Company's leases are classified as operating or finance leases. The Company recognizes a ROU asset and lease liability at the estimated present value of the minimum lease payments over the lease term. The 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. Lease obligations are based on contractually required cash payments while lease expense is recognized on a straight-line basis for its operating leases and as interest expense on the lease liability for its finance lease. Operating Leases The Residence Inn San Diego Gaslamp hotel property is subject to a ground lease with an expiration 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 $44 thousand per month and increase 10% every 5 years. The hotel is subject to supplemental rent payments annually 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 hotel is subject to an air rights lease and garage lease that each expires 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 the cost of capital repairs. Aggregate rent for 2024 under these leases amounted to $32 thousand per quarter. The Hilton Garden Inn Marina del Rey hotel is subject to a ground lease with an expiration of December 31, 2067. Minimum monthly payments are currently $47 thousand 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. On June 1, 2023, the Company executed an amendment to the corporate office lease to vacate and surrender possession of 7,374 rentable square feet in exchange for an early termination payment of $0.1 million. The partial termination of this lease required the Company to apply ASC 842 and remeasure the right of use asset and lease liability and recognize those adjustments in the consolidated statements of operations. During the year ended December 31, 2023, the Company recognized a gain from partial lease termination of approximately $0.2 million as a result of this partial termination. The Company shares the space with a related party and is reimbursed for the pro-rata share of rentable space occupied by the related party. The Company entered into a new 10-year corporate office lease in May 2024, which was subsequently amended in September 2024, that will commence when the Company takes possession of the space for leasehold improvements, on or before September 1, 2026. Annual base rent will range from $0.6 million to $0.7 million over the term of the lease. The new office space will be shared with a related party and the Company will be reimbursed for the pro-rata share of rentable space that will be occupied by the related party. For the year ended December 31, 2024, the Company made $1.2 million of fixed lease payments and $0.9 million of variable lease payments related to hotel ground leases, which are included in property taxes, ground rent and insurance in our consolidated statements of operations. For the year ended December 31, 2024, the Company made $0.7 million of fixed lease payments related to its corporate office lease, which are included in general and administrative expense in our consolidated statements of operations. Finance Leases The Home2 Phoenix hotel property is subject to a Government Property Lease Excise Tax ("GPLET") agreement with the City of Phoenix. As part of the agreement, title of the hotel property was conveyed to the City of Phoenix and leased back to the Company for a term of 8 years with fixed annual rent payments ranging from $26 thousand to $81 thousand. Title of the hotel property will be re-conveyed to the Company at no cost at the expiration of the 8-year lease term. The GPLET agreement can be terminated by the Company at any time for a fee of $0.1 million and title of the hotel property would be re-conveyed back to the Company. The Home2 Phoenix ROU assets are recorded as finance lease assets within Investment in hotel properties, net and the lease liability is recorded within Lease liability in the Company’s consolidated balance sheet. Expenses related to the finance lease are included in depreciation and amortization and interest expense, in the Company’s consolidated statements of operations. The following tables include information regarding the ROU assets and lease liabilities of the Company as of December 31, 2024: Balance Sheet Classification ROU Asset ROU Asset Finance lease assets, net Investment in hotel properties, net $ 42,750 $ — Operating lease assets, net Right of use asset, net 17,547 18,141 Total ROU asset, net $ 60,297 $ 18,141 Balance Sheet Classification Lease Liability Lease Liability Finance lease liability Lease liability $ 285 $ — Operating lease liability Lease liability 20,349 20,808 Total lease liability $ 20,634 $ 20,808 Lease Term and Discount Rate December 31, 2024 Weighted-average remaining lease term (years) 41.64 Weighted-average discount rate 6.88% The following table includes information regarding the Company's total minimum lease payments for which it is the lessee, as of December 31, 2024, for each of the next five calendar years and thereafter (in thousands): Total Future Lease Payments Amount 2025 $ 1,966 2026 1,768 2027 1,313 2028 1,338 2029 1,338 Thereafter 61,172 Total lease payments $ 68,895 Less: Imputed interest (48,261) Present value of lease liabilities $ 20,634

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation The nature of the operations of the Company's hotels exposes those hotels, the Company and the Operating Partnership to the risk of claims and litigation in the normal course of their business. IHM is currently a defendant in a class action lawsuit pending in the state of California. The class action lawsuit was filed in the Orange County Superior Court on September 6, 2023 under the title Teresa Garcia v. Island Hospitality Management III, LLC, now pending in the United States District Court, Central District of California, Case No. 8:24-cv-00583-DOC-ADS (“Action”). The class action relates to hotels operated by IHM in the state of California and owned by affiliates of the Company and/or certain third parties. The complaint alleges various wage and hour law violations and violation of certain California statutes. The plaintiffs seek injunctive relief, money damages, penalties, and interest. A settlement agreement has been negotiated and approved by the court. During the year ended December 31, 2024, the Company recorded $0.3 million of expense relating to this matter which is included in other charges in our consolidated statements of operations. The $0.3 million represents an estimate of the Company’s total exposure to the litigation based on standard indemnification obligations under hotel management agreements with IHM. 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 their 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 $10.7 million, $10.6 million and $10.1 million for the years ended December 31, 2024, 2023 and 2022, respectively. Incentive management fees paid to IHM for the years ended years ended December 31, 2024, 2023 and 2022 were $0.2 million, $0.2 million and $0.2 million, respectively. As of December 31, 2024, certain key terms of the Company's management agreements are (dollars are not in thousands): Property Management Company Base Management Fee Monthly Accounting Fee Monthly Revenue Management Fee Incentive Management Fee Cap Homewood Suites by Hilton Boston-Billerica/ Bedford/ Burlington IHM 3.0 % $1,200 $1,000 1.0 % Homewood Suites by Hilton Nashville-Brentwood IHM 3.0 % $1,200 $1,000 1.0 % Homewood Suites by Hilton Hartford-Farmington IHM 3.0 % $1,200 $1,000 1.0 % Hampton Inn & Suites Houston-Medical Center IHM 3.0 % $1,200 $1,000 1.0 % Residence Inn Long Island Holtsville IHM 3.0 % $1,200 $1,000 1.0 % Residence Inn White Plains IHM 3.0 % $1,200 $1,000 1.0 % Residence Inn New Rochelle IHM 3.0 % $1,200 $1,000 1.0 % Residence Inn Garden Grove IHM 3.0 % $1,500 $1,000 1.0 % Homewood Suites by Hilton San Antonio River Walk IHM 3.0 % $1,200 $1,000 1.0 % Residence Inn Washington DC IHM 3.0 % $1,200 $1,000 1.0 % Residence Inn Tysons Corner IHM 3.0 % $1,200 $1,000 1.0 % Hampton Inn Portland Downtown IHM 3.0 % $1,200 $1,000 1.0 % Courtyard Houston IHM 3.0 % $1,500 $1,000 1.0 % Hyatt Place Pittsburgh North Shore IHM 3.0 % $1,500 $1,000 1.0 % Hampton Inn Exeter IHM 3.0 % $1,200 $1,000 1.0 % Residence Inn Bellevue IHM 3.0 % $1,500 $1,000 1.0 % SpringHill Suites Savannah IHM 3.0 % $1,500 $1,000 1.0 % Residence Inn Silicon Valley I IHM 3.0 % $1,200 $1,000 1.0 % Residence Inn Silicon Valley II IHM 3.0 % $1,200 $1,000 1.0 % Residence Inn San Mateo IHM 3.0 % $1,200 $1,000 1.0 % Residence Inn Mountain View IHM 3.0 % $1,200 $1,000 1.0 % Hyatt Place Cherry Creek IHM 3.0 % $1,500 $1,000 1.0 % Courtyard Addison IHM 3.0 % $1,500 $1,000 1.0 % Residence Inn San Diego Gaslamp IHM 3.0 % $1,500 $1,000 1.0 % Hilton Garden Inn Marina del Rey IHM 3.0 % $1,500 $1,000 1.0 % Residence Inn Dedham IHM 3.0 % $1,200 $1,000 1.0 % Residence Inn Il Lugano IHM 3.0 % $1,500 $1,000 1.0 % Hilton Garden Inn Portsmouth IHM 3.0 % $1,500 $1,000 1.0 % Courtyard Summerville IHM 3.0 % $1,500 $1,000 1.0 % Embassy Suites Springfield IHM 3.0 % $1,500 $1,000 1.0 % Residence Inn Summerville IHM 3.0 % $1,500 $1,000 1.0 % Courtyard Dallas IHM 3.0 % $1,500 $1,000 1.0 % Residence Inn Austin Northwest/The Domain Area IHM 3.0 % $1,500 $1,000 1.0 % TownePlace Suites Austin Northwest/The Domain Area IHM 3.0 % $1,500 $1,000 1.0 % Home2 Suites Woodland Hills IHM 3.0 % $1,500 $1,000 1.0 % Hilton Garden Inn Destin Miramar Beach IHM 3.0 % $1,500 $1,000 1.0 % Home2 Suites Phoenix Downtown IHM 3.0 % $1,500 $1,000 1.0 % 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/program fees totaled approximately $25.4 million, $24.9 million and $23.7 million for the years ended December 31, 2024, 2023 and 2022, respectively. The initial terms of the agreements range from 10 to 30 years with the weighted-average expiration being May 2035. As of December 31, 2024, certain key terms of the Company's franchise agreements are: Property Franchise/Royalty Fee Marketing/Program Fee Expiration Homewood Suites by Hilton Boston-Billerica/ Bedford/ Burlington 4.0 % 4.0 % 2025 Homewood Suites by Hilton Nashville-Brentwood 4.0 % 4.0 % 2025 Homewood Suites by Hilton Hartford-Farmington 4.0 % 4.0 % 2025 Hampton Inn & Suites Houston-Medical Center 6.0 % 4.0 % 2035 Residence Inn Long Island Holtsville 5.5 % 2.5 % 2025 Residence Inn White Plains 5.5 % 2.5 % 2030 Residence Inn New Rochelle 5.5 % 2.5 % 2030 Residence Inn Garden Grove 5.0 % 2.5 % 2031 Homewood Suites by Hilton San Antonio River Walk 4.0 % 4.0 % 2026 Residence Inn Washington DC 5.5 % 2.5 % 2033 Residence Inn Tysons Corner 5.0 % 2.5 % 2031 Hampton Inn Portland Downtown 6.0 % 4.0 % 2032 Courtyard Houston 5.5 % 2.0 % 2030 Hyatt Place Pittsburgh North Shore 5.0 % 3.5 % 2030 Hampton Inn Exeter 6.0 % 4.0 % 2031 Residence Inn Bellevue 5.5 % 2.5 % 2033 SpringHill Suites Savannah 5.0 % 2.5 % 2033 Residence Inn Silicon Valley I 5.5 % 2.5 % 2029 Residence Inn Silicon Valley II 5.5 % 2.5 % 2029 Residence Inn San Mateo 5.5 % 2.5 % 2029 Residence Inn Mountain View 5.5 % 2.5 % 2029 Hyatt Place Cherry Creek 5.0 % 3.5 % 2034 Courtyard Addison 5.5 % 2.0 % 2029 Residence Inn San Diego Gaslamp 6.0 % 2.5 % 2035 Hilton Garden Inn Marina del Rey 5.5 % 4.3 % 2030 Residence Inn Dedham 6.0 % 2.5 % 2030 Residence Inn Il Lugano 6.0 % 2.5 % 2045 Hilton Garden Inn Portsmouth 5.5 % 4.0 % 2037 Courtyard Summerville 6.0 % 2.5 % 2037 Embassy Suites Springfield 5.5 % 4.0 % 2037 Residence Inn Summerville 6.0 % 2.5 % 2038 Courtyard Dallas 6.0 % 2.0 % 2038 Residence Inn Austin Northwest/The Domain Area 6.0 % 2.5 % 2036 TownePlace Suites Austin Northwest/The Domain Area 5.5 % 2.0 % 2041 Home2 Suites Woodland Hills 5.0% 3.0 % 2040 Hilton Garden Inn Destin Miramar Beach 5.5 % 4.0 % 2042 Home2 Suites Phoenix Downtown 3.0% to 5.0% 3.5 % 2044

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions As of December 31, 2024, Mr. Fisher owns 100% of IHM. As of December 31, 2024, the Company had hotel management agreements with IHM to manage all 37 of its hotels. Hotel management, revenue management and accounting fees accrued or paid to IHM for the hotels owned by the Company for the years ended December 31, 2024, 2023 and 2022 were $10.7 million, $10.6 million and $10.1 million, respectively. At December 31, 2024 and 2023, the amounts due to IHM were $0.5 million and $0.4 million, respectively. Incentive management fees paid to IHM by the Company for the years ended December 31, 2024, 2023 and 2022 were $0.2 million, $0.2 million and $0.2 million, respectively. Cost reimbursements from related parties revenue represent reimbursements of costs incurred on behalf of IHM. These costs relate primarily to office expenses shared with IHM. Various shared office expenses and rent are paid by the Company and allocated to 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.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Reporting Disclosure	Segment Information Management evaluates the Company's hotels as a single reportable segment as a result of aggregating multiple operating segments, because all of the Company's hotels have similar economic characteristics and provide similar services to similar types of customers. Our single reportable segment comprises the structure used by our Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer, who collectively have been determined to be our Chief Operating Decision Maker ("CODM"), to make key operating decisions and assess performance. Our CODM evaluates our single reportable segment's operating performance based on individual hotel property net income (loss) before interest expense, income tax expense, depreciation and amortization, corporate general and administrative expense, impairment loss, loss on early extinguishment of debt, other charges, interest and other income, and gains or losses on sales of hotel properties ("Adjusted Hotel EBITDA"). Our single reportable segment's assets are consistent with total assets included in the Company's consolidated balance sheets. The following table includes revenue, significant hotel operating expenses, and Adjusted Hotel EBITDA for the Company’s hotels, reconciled to the consolidated amounts included in the Company’s consolidated statements of operations (in thousands): For the year ended December 31, 2024 2023 2022 Revenue: Room $ 290,290 $ 284,999 $ 272,265 Food and beverage 7,737 8,124 7,303 Other 18,077 16,703 13,958 Total hotel property level revenue (1) 316,104 309,826 293,526 Expenses: Room 65,311 61,794 56,073 Food and beverage 6,218 6,352 5,520 Telephone 1,360 1,439 1,449 Other hotel operating 4,127 3,712 3,488 General and administrative 28,826 28,884 26,086 Franchise and marketing fees 25,355 24,897 23,674 Advertising and promotions 6,229 6,085 5,397 Utilities 13,161 13,007 12,048 Repairs and maintenance 16,516 15,837 14,145 Management fees paid to related parties 10,733 10,557 10,133 Insurance 3,340 2,822 2,746 Property taxes, ground rent and insurance 23,709 23,507 21,210 Total hotel property level expenses 204,885 198,893 181,969 Adjusted Hotel EBITDA $ 111,219 $ 110,933 $ 111,557 Reconciliation of Adjusted Hotel EBITDA to net income Interest expense, including amortization of deferred fees (30,880) (27,128) (26,454) Depreciation and amortization (60,741) (58,254) (59,350) Corporate general and administrative (18,388) (17,517) (17,339) Other charges (327) (2,300) (683) Impairment loss (4,256) (4,266) — Loss on early extinguishment of debt (17) (696) (138) Interest and other income 1,712 1,534 10 Gain on sale of hotel properties 5,713 18 2,268 Gain from partial lease termination — 164 — Net income $ 4,035 $ 2,488 $ 9,871 (1) The difference between total hotel property level revenue and total revenue on the consolidated statements of operations is due to reimbursable costs from related parties of $1.1 million, $1.3 million, and $1.3 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On January 6, 2025, the Company repaid the maturing mortgage loan of $16.0 million on the Hampton Inn & Suites Houston-Medical Center hotel property. On January 30, 2025, the Company sold the Homewood Suites Nashville-Brentwood hotel property in Brentwood, TN for approximately $15.0 million.

SCHEDULE III - REAL ESTATE AND

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION	SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION December 31, 2024 (in thousands) Initial Cost Gross Amount at End of Year Description Year of Acquisition Encumbrances Land Buildings & Improvements Cost Cap. Sub. To Acq. Land Cost Cap. Sub. To Acq. Bldg & Improvements Land Buildings & Improvements Total Bldg & Improvements Accumulated Depreciation Year of Original Construction Depreciation Life Homewood Suites Boston - Billerica, MA 2010 — 1,470 10,555 48 4,496 1,518 15,051 16,569 15,051 6,218 1999 (1) Homewood Suites Nashville - Brentwood, TN 2010 — 1,525 9,300 12 4,307 1,537 13,607 15,144 13,607 5,959 1998 (1) Homewood Suites Hartford - Farmington, CT 2010 — 1,325 9,375 92 4,341 1,417 13,716 15,133 13,716 5,607 1999 (1) Hampton Inn & Suites Houston - Houston, TX 2010 15,957 3,200 12,709 66 3,485 3,266 16,194 19,460 16,194 6,118 1997 (1) Residence Inn Holtsville - Holtsville, NY 2010 — 2,200 18,765 19 3,391 2,219 22,156 24,375 22,156 8,074 2004 (1) Residence Inn White Plains - White Plains, NY 2010 — 2,200 17,677 — 13,144 2,200 30,821 33,021 30,821 12,601 1982 (1) Residence Inn New Rochelle - New Rochelle, NY 2010 — — 20,281 9 6,203 9 26,484 26,493 26,484 9,803 2000 (1) Residence Inn Garden Grove - Garden Grove, CA 2011 — 7,109 35,484 57 5,058 7,166 40,542 47,708 40,542 14,060 2003 (1) Homewood Suites San Antonio - San Antonio, TX 2011 — 5,999 24,764 7 10,534 6,006 35,298 41,304 35,298 12,422 1996 (1) Residence Inn Washington DC - Washington, DC 2011 — 6,083 22,063 44 10,148 6,127 32,211 38,338 32,211 12,231 1974 (1) Residence Inn Tyson's Corner - Vienna, VA 2011 — 5,752 28,917 6 3,061 5,758 31,978 37,736 31,978 11,131 2001 (1) Hampton Inn Portland Downtown - Portland, ME 2012 — 4,315 22,664 (1) 1,461 4,314 24,125 28,439 24,125 7,240 2011 (1) Courtyard Houston - Houston, TX 2013 — 5,600 27,350 — (373) 5,600 26,977 32,577 26,977 9,657 2010 (1) Hyatt Place Pittsburgh - Pittsburgh, PA 2013 23,300 3,000 35,576 15 1,883 3,015 37,459 40,474 37,459 11,095 2011 (1) Hampton Inn & Suites Exeter - Exeter, NH 2013 15,000 1,900 12,350 4 1,185 1,904 13,535 15,439 13,535 3,876 2010 (1) Residence Inn Bellevue - Bellevue, WA 2013 — 13,800 56,957 — 2,902 13,800 59,859 73,659 59,859 17,380 2008 (1) SpringHill Suites Savannah - Savannah, GA 2013 22,000 2,400 36,050 1 2,083 2,401 38,133 40,534 38,133 11,164 2009 (1) Residence Inn Silicon Valley I - Sunnyvale, CA 2014 — 42,652 45,846 33 6,498 42,685 52,344 95,029 52,344 35,079 1983 (1) Residence Inn Silicon Valley II - Sunnyvale, CA 2014 — 46,474 50,380 56 7,934 46,530 58,314 104,844 58,314 38,576 1985 (1) Residence Inn San Mateo - San Mateo, CA 2014 — 38,420 31,352 123 5707 38,543 37,059 75,602 37,059 24,340 1985 (1) Residence Inn Mt. View - Mountain View, CA 2014 — 22,019 31,813 29 10,488 22,048 42,301 64,349 42,301 27,911 1985 (1) Hyatt Place Cherry Creek - Cherry Creek, CO 2014 — 3,700 26,300 — 4,695 3,700 30,995 34,695 30,995 8,018 1987 (1) Courtyard Addison - Dallas, TX 2014 — 2,413 21,554 23 3,889 2,436 25,443 27,879 25,443 7,021 2000 (1) Residence Inn Gaslamp - San Diego, CA 2015 — — 89,040 10 2,174 10 91,214 91,224 91,214 23,121 2009 (1) Hilton Garden Inn - Marina del Rey, CA 2015 — — 43,210 — 2,858 — 46,068 46,068 46,068 10,715 2013 (1) Residence Inn - Dedham, MA 2015 — 4,230 17,304 — 2,614 4,230 19,918 24,148 19,918 5,025 1998 (1) Residence Inn - Ft. Lauderdale, FL 2015 — 9,200 24,048 14 2,820 9,214 26,868 36,082 26,868 6,633 2008 (1) - continued - Initial Cost Gross Amount at End of Year Description Year of Acquisition Encumbrances Land Buildings & Improvements Cost Cap. Sub. To Acq. Land Cost Cap. Sub. To Acq. Bldg & Improvements Land Buildings & Improvements Total Bldg & Improvements Accumulated Depreciation Year of Original Construction Depreciation Life Home2 Suites - Woodland Hills, CA 2017 — 6,500 — 128 56,679 6,628 56,679 63,307 56,679 12,891 2022 (1) Hilton Garden Inn - Portsmouth, NH 2017 — 3,600 37,630 — 954 3,600 38,584 42,184 38,584 7,091 2006 (1) Courtyard - Summerville, SC 2017 9,000 2,500 16,923 7 1,166 2,507 18,089 20,596 18,089 3,226 2014 (1) Embassy Suites - Springfield, VA 2017 — 7,700 58,807 — 2,563 7,700 61,370 69,070 61,370 10,681 2013 (1) Residence Inn - Summerville, SC 2018 9,500 2,300 17,060 11 310 2,311 17,370 19,681 17,370 2,824 2018 (1) Courtyard Dallas Downtown - Dallas, TX 2018 24,500 2,900 42,760 — 214 2,900 42,974 45,874 42,974 6,532 2018 (1) Silicon Valley III - Sunnyvale, CA 2018 — 8,171 — — — 8,171 — 8,171 — — Residence Inn Austin Northwest/The Domain Area - Austin, TX 2021 20,850 2,400 33,346 — 251 2,400 33,597 35,997 33,597 2,886 2016 (1) TownePlace Suites Austin Northwest/The Domain Area - Austin, TX 2021 19,075 2,300 29,347 5 97 2,305 29,444 31,749 29,444 2,515 2021 (1) Hilton Garden Inn Destin - Miramar Beach, FL 2022 — 4,222 25,246 18 174 4,240 25,420 29,660 25,420 1,811 2020 (1) Grand Total(s) $ 279,579 $ 1,042,803 $ 836 $ 189,394 $ 280,415 $ 1,232,197 $ 1,512,612 $ 1,232,197 $ 401,532 (1) Depreciation is computed based upon the following estimated useful lives: Years Building 40 Land improvements 20 Building improvements 5-20 - continued - Notes: (a) The change in total cost of real estate assets for the year ended is as follows: 2024 2023 2022 Balance at the beginning of the year $ 1,564,433 $ 1,556,453 $ 1,557,060 Acquisitions — — 29,468 Dispositions (62,647) — (95,385) Impairment of depreciable assets (4,256) (4,266) — Improvements 15,082 12,246 65,310 Balance at the end of the year $ 1,512,612 $ 1,564,433 $ 1,556,453 Finance lease assets at the end of the year 40,240 — — Total investment in real estate $ 1,552,852 $ 1,564,433 $ 1,556,453 (b) The change in accumulated depreciation and amortization of real estate assets for the year ended is as follows: 2024 2023 2022 Balance at the beginning of the year $ 376,323 $ 328,832 $ 300,731 Depreciation expense 46,588 47,491 46,558 Accumulated depreciation on dispositions (21,379) — (18,457) Accumulated depreciation at the end of the year $ 401,532 $ 376,323 $ 328,832 Accumulated amortization of finance leases at the end of the year 596 — — Total accumulated depreciation and amortization $ 402,128 $ 376,323 $ 328,832 (c) The aggregate cost of properties for federal income tax purposes (in thousands) is approximately $1,553,093 as of December 31, 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 4,166	$ 2,644	$ 9,805

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Our management and Board recognize the critical importance of addressing cybersecurity threats and risks to our business and operations. Therefore, we have established a comprehensive framework to assess, respond to, and manage material risks arising from cybersecurity threats. Assessment, Identification and Management of Material Risks from Cybersecurity We rely on the cybersecurity strategy and policies implemented by IHM, the manager of all the Company’s properties, with whom we share corporate office space. IHM’s cybersecurity strategy prioritizes detection and analysis of and response to known, anticipated or unexpected threats, effective management of security risks and resilience against cyber incidents. IHM’s enterprise-wide cybersecurity program is aligned to the National Institute of Standards and Technology Cybersecurity Framework. IHM’s cybersecurity risk management processes include technical security controls, monitoring systems, tools and related services, which include tools and services from third-party providers, and management oversight to assess, identify and manage risks from cybersecurity threats. IHM has implemented and continues to implement risk-based controls designed to prevent, detect and respond to information security threats and we rely on those controls to help us protect our information, our information systems, and the information of our investors and other third parties who entrust us with their sensitive information. IHM’s cybersecurity program includes physical, administrative and technical safeguards, as well as plans and procedures designed to help IHM prevent and timely and effectively respond to cybersecurity threats and incidents, including threats or incidents that may impact us. IHM’s cybersecurity risk management process seeks to monitor cybersecurity vulnerabilities and potential attack vectors, evaluate the potential operational and financial effects of any threat and mitigate such threats. The assessment of cybersecurity risks, including those which may impact us, is integrated into IHM’s information technology program. In addition, both IHM and the Company periodically engage with third-party consultants and key vendors to assist them in assessing, enhancing, implementing and monitoring its cybersecurity risk management programs and responding to incidents. IHM undertakes periodic internal security reviews of our information systems and related controls, including systems affecting personal data and the cybersecurity risks of IHM’s and our critical third-party vendors and other partners. IHM also completes periodic external reviews of its cybersecurity program and practices, which include assessments of relevant data protection practices and targeted attack simulations. In addition, much of the sensitive information relating to hotel guests is controlled by the respective franchisor companies, affiliates of Marriott International, Inc., Hilton Worldwide Holdings, Inc., and Hyatt Hotels Corporation, each of which is a public company with cybersecurity protection policies in place which each publicly discloses. In addition, to aid its own security, the Company has adopted a number of cybersecurity policies including an Incident Response Plan, an Acceptable Use Policy for employees and a Service Provider Cybersecurity Management Policy (collectively, the “Cybersecurity Policies”), through which the Company ensures that key vendors with access to sensitive information have contractual terms obligating their compliance with the Company's processes, policies and procedures. IHM, in coordination with our General Counsel, is responsible for testing the Incident Response Plan on a periodic basis. In addition, our Audit Committee and General Counsel will review on at least an annual basis the Incident Response Plan and update the Incident Response Plan, as appropriate, to address applicable legal requirements and the Company’s policies, procedures and information security and business objectives. Periodically, the Audit Committee will review (i) the Cybersecurity Policies and (ii) the Company’s cybersecurity risk exposure and discusses steps management has taken to monitor or mitigate such risk exposure. Material Impact of Cybersecurity Risks In the last three fiscal years, we have not experienced a material information security breach incident, and we are not aware of any cybersecurity risks that are reasonably likely to materially affect our business. However, future incidents could have a material impact on our business strategy, results of operations or financial condition. For additional discussion of the risks posed by cybersecurity threats, see “Item 1A. Risk Factors— General Risk Factors— Cybersecurity failures and data security incidents could adversely affect our business by causing a disruption to our operations, a compromise or corruption of our confidential, personal or other sensitive information and/or damage to our business relationships or reputation, any of which could negatively impact our business, financial condition and operating results.”
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	IHM’s cybersecurity program includes physical, administrative and technical safeguards, as well as plans and procedures designed to help IHM prevent and timely and effectively respond to cybersecurity threats and incidents, including threats or incidents that may impact us. IHM’s cybersecurity risk management process seeks to monitor cybersecurity vulnerabilities and potential attack vectors, evaluate the potential operational and financial effects of any threat and mitigate such threats. The assessment of cybersecurity risks, including those which may impact us, is integrated into IHM’s information technology program.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The Audit Committee of the Board has the primary responsibility for oversight and review of guidelines and policies with respect to risk assessment and risk management, including cybersecurity. IHM and the Company’s Chief Executive Officer, Chief Financial Officer, Chief Operating Officer and General Counsel (collectively, the “Executive Leadership Team”) are responsible for assessing and managing cybersecurity risks. Certain members of IHM periodically report to the Company’s management on cybersecurity issues and management presents information to our Audit Committee as well as our full Board, as appropriate, on cybersecurity matters. Upon verifying that a cybersecurity incident has occurred or is occurring, the Executive Leadership Team or their designees, in cooperation with IHM, will promptly conduct a preliminary assessment of the severity level of the cybersecurity incident. Following this assessment, IHM will report the cybersecurity incident to the Chief Executive Officer, who in consultation with the General Counsel, will inform the chair of the Audit Committee, who will then report such cybersecurity incident to the Board as the chair deems appropriate. All Level 1 (High Severity) cybersecurity incidents will be reported to the Board.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee of the Board has the primary responsibility for oversight and review of guidelines and policies with respect to risk assessment and risk management, including cybersecurity.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Certain members of IHM periodically report to the Company’s management on cybersecurity issues and management presents information to our Audit Committee as well as our full Board, as appropriate, on cybersecurity matters. Upon verifying that a cybersecurity incident has occurred or is occurring, the Executive Leadership Team or their designees, in cooperation with IHM, will promptly conduct a preliminary assessment of the severity level of the cybersecurity incident. Following this assessment, IHM will report the cybersecurity incident to the Chief Executive Officer, who in consultation with the General Counsel, will inform the chair of the Audit Committee, who will then report such cybersecurity incident to the Board as the chair deems appropriate. All Level 1 (High Severity) cybersecurity incidents will be reported to the Board.
Cybersecurity Risk Role of Management [Text Block]	We rely on the cybersecurity strategy and policies implemented by IHM, the manager of all the Company’s properties, with whom we share corporate office space. IHM’s cybersecurity strategy prioritizes detection and analysis of and response to known, anticipated or unexpected threats, effective management of security risks and resilience against cyber incidents. IHM’s enterprise-wide cybersecurity program is aligned to the National Institute of Standards and Technology Cybersecurity Framework. IHM’s cybersecurity risk management processes include technical security controls, monitoring systems, tools and related services, which include tools and services from third-party providers, and management oversight to assess, identify and manage risks from cybersecurity threats. IHM has implemented and continues to implement risk-based controls designed to prevent, detect and respond to information security threats and we rely on those controls to help us protect our information, our information systems, and the information of our investors and other third parties who entrust us with their sensitive information. IHM’s cybersecurity program includes physical, administrative and technical safeguards, as well as plans and procedures designed to help IHM prevent and timely and effectively respond to cybersecurity threats and incidents, including threats or incidents that may impact us. IHM’s cybersecurity risk management process seeks to monitor cybersecurity vulnerabilities and potential attack vectors, evaluate the potential operational and financial effects of any threat and mitigate such threats. The assessment of cybersecurity risks, including those which may impact us, is integrated into IHM’s information technology program. In addition, both IHM and the Company periodically engage with third-party consultants and key vendors to assist them in assessing, enhancing, implementing and monitoring its cybersecurity risk management programs and responding to incidents.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The Audit Committee of the Board has the primary responsibility for oversight and review of guidelines and policies with respect to risk assessment and risk management, including cybersecurity. IHM and the Company’s Chief Executive Officer, Chief Financial Officer, Chief Operating Officer and General Counsel (collectively, the “Executive Leadership Team”) are responsible for assessing and managing cybersecurity risks. Certain members of IHM periodically report to the Company’s management on cybersecurity issues and management presents information to our Audit Committee as well as our full Board, as appropriate, on cybersecurity matters. Upon verifying that a cybersecurity incident has occurred or is occurring, the Executive Leadership Team or their designees, in cooperation with IHM, will promptly conduct a preliminary assessment of the severity level of the cybersecurity incident. Following this assessment, IHM will report the cybersecurity incident to the Chief Executive Officer, who in consultation with the General Counsel, will inform the chair of the Audit Committee, who will then report such cybersecurity incident to the Board as the chair deems appropriate. All Level 1 (High Severity) cybersecurity incidents will be reported to the Board.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	IHM’s cybersecurity risk management processes include technical security controls, monitoring systems, tools and related services, which include tools and services from third-party providers, and management oversight to assess, identify and manage risks from cybersecurity threats. IHM has implemented and continues to implement risk-based controls designed to prevent, detect and respond to information security threats and we rely on those controls to help us protect our information, our information systems, and the information of our investors and other third parties who entrust us with their sensitive information.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Certain members of IHM periodically report to the Company’s management on cybersecurity issues and management presents information to our Audit Committee as well as our full Board, as appropriate, on cybersecurity matters. Upon verifying that a cybersecurity incident has occurred or is occurring, the Executive Leadership Team or their designees, in cooperation with IHM, will promptly conduct a preliminary assessment of the severity level of the cybersecurity incident. Following this assessment, IHM will report the cybersecurity incident to the Chief Executive Officer, who in consultation with the General Counsel, will inform the chair of the Audit Committee, who will then report such cybersecurity incident to the Board as the chair deems appropriate. All Level 1 (High Severity) cybersecurity incidents will be reported to the Board.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying 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”). These 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. The consolidated financial statements include all of the accounts of the Company, the Operating Partnership (a variable interest entity) and its wholly owned subsidiaries. All intercompany balances and transactions are eliminated in consolidation.
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.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial instruments include cash and cash equivalents, restricted cash, hotel receivables, accounts payable and accrued expenses, distributions payable, mortgage debt, revolving credit facility and unsecured term loan. Due to their relatively short maturities, the carrying values reported in the consolidated balance sheets for these financial instruments approximate fair value except for mortgage debt, the revolving credit facility, the construction loan, and the unsecured term loan, the fair value of which is separately disclosed in Note 6.
Investment in Hotel Properties	Investment in Hotel Properties The Company allocates the purchase prices of hotel properties acquired as asset acquisitions based on the fair value of the acquired real estate, furniture, fixtures and equipment, identifiable intangible assets and assumed liabilities. In making estimates of fair value for purposes of allocating the purchase price, the Company utilizes a number of sources of information that are obtained in connection with the acquisition of a hotel property, including valuations performed by independent third parties and information obtained about each hotel property resulting from pre-acquisition due diligence. The Company’s investments in hotel properties are carried at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, generally 40 years for buildings, 20 years for land improvements, 5 to 20 years for building improvements and one Management periodically reviews its hotel properties for impairment whenever events or changes in circumstances indicate that the carrying value of the hotel properties may not be recoverable over management's estimated holding period. This estimated holding period incorporates management’s intent and ability to hold the hotel properties over the estimated holding period. Events or circumstances that may cause a review include, but are not limited to, adverse changes in the demand for lodging at the properties due to declining national or local economic conditions and/or new hotel construction in markets where the hotels are located. When such conditions exist and management has identified uncertainty surrounding the recoverability of the hotel property carrying value, management will perform an analysis to determine if the estimated undiscounted future cash flows, without interest charges, from operations and the estimated proceeds from the ultimate disposition of a hotel property exceed its carrying value. If the estimated undiscounted future cash flows are less than the carrying amount, an adjustment to reduce the carrying amount to the related hotel property's estimated fair value is recorded and an impairment loss recognized. For the year ended December 31, 2024, the Company incurred an impairment loss on one hotel property (See Note 5). For the year ended December 31, 2023, the Company incurred an impairment loss on one hotel property (See Note 5). For the year ended December 31, 2022, there were no impairment losses.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand, demand deposits with financial institutions and short term liquid investments with an original maturity of three months or less. Cash balances in individual banks may exceed federally insurable limits.
Restricted Cash	Restricted Cash
Hotel Receivables	Hotel Receivables
Prepaid Expenses and Other Assets	Prepaid Expenses and Other Assets The Company’s prepaid expenses and other assets consist of prepaid insurance, prepaid property taxes, deposits and hotel supplies inventory.
Deferred Costs	Deferred Costs
Mortgage Debt, net	Mortgage Debt, net
Revenue Recognition	Revenue Recognition Revenue from hotel operations is recognized when rooms are occupied and when services are provided. Revenue consists of amounts derived from hotel operations, including sales from room, meeting room, gift shop, in-room movie and other ancillary amenities. Sales, use, occupancy, and similar taxes are collected and presented on a net basis (excluded from revenue) in the accompanying consolidated statements of operations. Cash received prior to customer arrival is recorded as an advanced deposit from the customer and is recognized as revenue at the time of occupancy. Room revenue is generated through short-term contracts with customers whereby customers agree to pay a daily rate for the right to occupy hotel rooms for one or more nights. Our performance obligations are fulfilled at the end of each night that the customers have the right to occupy the rooms. Room revenues are recognized daily at the contracted room rate in effect for each room night. Food and beverage revenues are generated when customers purchase food and beverage at a hotel's restaurant, bar or other facilities. Our performance obligations are fulfilled at the time that food and beverage is purchased and provided to our customers. Other revenues such as for parking, cancellation fees, meeting space or telephone services are recognized at the point in time or over the time period that the associated good or service is provided.
Share-Based Compensation	Share-Based Compensation The Company measures compensation expense for the restricted share awards based upon the fair market value of its common shares at the date of grant. The Company measures compensation expense for the LTIP and Class A Performance units based upon the Monte Carlo approach using volatility, dividend yield and a risk free interest rate in the valuation. Compensation expense is recognized on a straight-line basis over the vesting period and is included in general and administrative expense in the accompanying consolidated statements of operations. The Company pays dividends on vested and non-vested restricted shares, except for performance-based shares, for which dividends on unvested shares are not paid until those shares are vested. The Company has also issued Class A Performance LTIP units from time to time as part of its compensation practices. Prior to vesting, holders of Class A Performance LTIP Units will not be entitled to vote their Class A Performance LTIP units. In addition, under the terms of the Class A Performance LTIP units, a holder of a Class A Performance LTIP unit will generally (i) be entitled to receive 10% of the distributions made on a common unit of the Operating Partnership during the period prior to vesting of such Class A Performance LTIP unit (the “Pre-Vesting Distributions”), (ii) be entitled, upon the vesting of such Class A Performance LTIP unit, to receive a special one-time “catch-up” distribution equal to the aggregate amount of distributions that were paid on a common unit during the period prior to vesting of such Class A Performance LTIP unit minus the aggregate amount of Pre-Vesting Distributions paid on such Class A Performance LTIP unit, and (iii) be entitled, following the vesting of such Class A Performance LTIP unit, to receive the same amount of distributions paid on a common unit of the Operating Partnership.
Earnings Per Share	Earnings Per Share
Income Taxes	Income Taxes The Company elected to be taxed as a REIT for federal income tax purposes. In order to qualify as a REIT under the Internal Revenue Code of 1986, as amended, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its annual REIT taxable income to its shareholders (which is computed without regard to the dividends paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax to the extent the Company distributes its REIT taxable income to its shareholders. If the Company fails to qualify as a REIT in any taxable year, the Company will be subject to federal income tax on its REIT taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four The Company leases its wholly owned hotels to TRS Lessees, which are wholly owned by the Company’s taxable REIT subsidiary (a “TRS”) which, in turn is wholly owned by the Operating Partnership. The TRS is subject to federal and state income taxes and the Company accounts for taxes, where applicable, in accordance with the provisions of FASB Accounting Standards Codification 740 using the asset and liability method which recognizes deferred tax assets and liabilities for future tax consequences arising from differences between financial statement carrying amounts and income tax bases. The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases, and for net operating loss, capital loss and tax credit carryforwards. The deferred tax assets and liabilities are measured using the enacted income tax rates in effect for the year in which those temporary differences are expected to be realized or settled. The effect on the deferred tax assets and liabilities from a change in tax rates is recognized in earnings in the period when the new rate is enacted. However, deferred tax assets are recognized only to the extent that it is more likely than not that they will be realized based on consideration of all available evidence, including the future reversals of existing taxable temporary differences, future projected taxable income and tax planning strategies. Valuation allowances are provided if, based upon the weight of the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company performs an annual review for any uncertain tax positions and, if necessary, will record the expected future tax consequences of uncertain tax positions in the consolidated financial statements. As of December 31, 2024, the Company is no longer subject to U.S federal income tax examinations for years before 2021 and with few exceptions to state examinations before 2021. The Company evaluates whether a tax position of the Company is more likely than not to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. For tax positions meeting the more likely than not threshold, the tax amount recognized in the financial statements is reduced by the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant taxing authority. The Company has reviewed its tax positions for open tax years and has concluded no provision for income taxes is required in the Company's consolidated financial statements as of December 31, 2024. Interest and penalties related to uncertain tax benefits, if any, in the future will be recognized as operating expense.
Segment Information	Management evaluates the Company's hotels as a single reportable segment as a result of aggregating multiple operating segments, because all of the Company's hotels have similar economic characteristics and provide similar services to similar types of customers. Our single reportable segment comprises the structure used by our Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer, who collectively have been determined to be our Chief Operating Decision Maker ("CODM"), to make key operating decisions and assess performance. Our CODM evaluates our single reportable segment's operating performance based on individual hotel property net income (loss) before interest expense, income tax expense, depreciation and amortization, corporate general and administrative expense, impairment loss, loss on early extinguishment of debt, other charges, interest and other income, and gains or losses on sales of hotel properties ("Adjusted Hotel EBITDA"). Our single reportable segment's assets are consistent with total assets included in the Company's consolidated balance sheets.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting - Improvements to Reportable Segment Disclosures ("ASU 2023-07"). The guidance requires incremental disclosures related to a public entity’s reportable segments. ASU 2023-07 is effective for public entities for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024, with early adoption permitted. The Company adopted this ASU during the year ended December 31, 2024, and has made the required disclosures herein (See Note 15).

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Schedule of Components of Deferred Costs	Deferred costs consisted of the following at December 31, 2024 and 2023 (in thousands): December 31, 2024 December 31, 2023 Loan costs $ 6,323 $ 6,256 Franchise fees 4,961 4,311 Other 334 102 11,618 10,669 Less accumulated amortization (7,580) (6,423) Deferred costs, net $ 4,038 $ 4,246
Schedule of Mortgage Loans and Unsecured Term Loans	Mortgage debt consisted of the following at December 31, 2024 and 2023 (in thousands): December 31, 2024 December 31, 2023 Mortgage debt $ 159,182 $ 396,109 Deferred financing costs (1,971) (1,565) Mortgage debt, net $ 157,211 $ 394,544 December 31, 2024 December 31, 2023 Unsecured term loan $ 140,000 $ 90,000 Deferred financing costs (362) (467) Unsecured term loan, net $ 139,638 $ 89,533

Investment in Hotel Properties

Investment in Hotel Properties (Tables)	12 Months Ended
	Dec. 31, 2024
Investments, All Other Investments [Abstract]
Schedule of Investment in Hotel Properties	Investment in hotel properties, net as of December 31, 2024 and 2023 consisted of the following (in thousands): December 31, 2024 December 31, 2023 Land and improvements $ 280,415 $ 289,671 Building and improvements 1,232,438 1,274,970 Furniture, fixtures and equipment 107,947 108,222 Finance lease assets 43,760 — Renovations in progress 17,232 15,138 1,681,792 1,688,001 Less accumulated depreciation and amortization (484,274) (460,368) Investment in hotel properties, net $ 1,197,518 $ 1,227,633

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Components of Mortgage Debt	Debt consisted of the following (in thousands): Loan/Collateral Interest Rate Maturity Date December 31, 2024 Balance Outstanding as of December 31, 2024 December 31, Revolving Credit Facility (1) 6.66 % October 28, 2026 $ — $ 110,000 $ — Unsecured Term Loan (2) 6.75 % October 28, 2025 — 140,000 90,000 Residence Inn by Marriott Garden Grove, CA 4.79 % April 6, 2024 — — 29,496 Residence Inn by Marriott Silicon Valley I, CA 4.64 % July 1, 2024 — — 60,134 Residence Inn by Marriott Silicon Valley II, CA 4.64 % July 1, 2024 — — 65,609 Residence Inn by Marriott San Mateo, CA 4.64 % July 1, 2024 — — 45,100 Residence Inn by Marriott Mountain View, CA 4.64 % July 1, 2024 — — 35,171 Hilton Garden Inn Marina del Rey, CA 4.68 % July 6, 2024 — — 19,023 Homewood Suites by Hilton Billerica, MA 4.32 % December 6, 2024 — — 14,481 Hampton Inn & Suites Houston-Medical Center, TX 4.25 % January 6, 2025 13,620 15,957 16,338 Courtyard by Marriott Dallas, TX (3) 7.61 % September 11, 2028 39,404 24,500 24,500 Hyatt Place Pittsburgh, PA (4) 7.29 % June 11, 2029 29,830 23,300 — Residence Inn by Marriott Austin, TX (5) 7.42 % September 6, 2033 33,671 20,850 20,850 TownePlace Suites by Marriott Austin, TX (5) 7.42 % September 6, 2033 30,092 19,075 19,075 Courtyard by Marriott Summerville, SC (6) 7.33 % September 11, 2033 18,175 9,000 9,000 Residence Inn by Marriott Summerville, SC (6) 7.33 % September 11, 2033 16,908 9,500 9,500 SpringHill Suites by Marriott Savannah, GA (7) 6.70 % June 6, 2034 32,579 22,000 27,832 Hampton Inn & Suites Exeter, NH (7) 6.70 % June 11, 2034 12,132 15,000 — Total debt before unamortized debt issue costs $ 226,411 $ 409,182 $ 486,109 Unamortized term loan and mortgage debt issue costs (2,332) (2,032) Total debt outstanding $ 406,850 $ 484,077 1. The interest rate for the revolving credit facility is variable and based on one-month term secured overnight financing rate (" SOFR 2. The interest rate for the unsecured term loan is variable and based on one-month term SOFR plus a spread of 1.45% to 2.20% based on the Company's leverage and a credit spread adjustment of 0.10%. 3. On August 30, 2023, a subsidiary of Chatham entered into an agreement with Wells Fargo Bank to obtain a $24.5 million loan secured by the Courtyard by Marriott Dallas Downtown. The loan has a term of five years, carries a fixed interest rate of 7.61%, and is interest-only for the duration of the loan. 4. On May 31, 2024, a subsidiary of Chatham entered into an agreement with Wells Fargo Bank to obtain a $23.3 million loan secured by the Hyatt Place Pittsburgh. The loan has a term of five years, carries a fixed interest rate of 7.29%, and is interest-only for its duration. 5. On August 16, 2023, two subsidiaries of Chatham entered into two agreements with Barclays Capital Real Estate to obtain a $20.9 million loan and a $19.1 million loan secured by the Residence Inn by Marriott Austin and the TownePlace Suites by Marriott Austin, respectively. Each loan has a term of ten years, carries a fixed interest rate of 7.42%, and is interest-only for the first five years before amortizing based upon a 30-year amortization schedule. 6. On August 31, 2023, two subsidiaries of Chatham entered into two agreements with Wells Fargo Bank to obtain a $9.0 million loan and a $9.5 million loan secured by the Courtyard by Marriott Summerville and the Residence Inn by Marriott Summerville, respectively. Each loan has a term of ten years, carries a fixed interest rate of 7.33%, and is interest-only for the duration of the loan. 7. On June 6, 2024, two subsidiaries of Chatham entered into two agreements with Barclays Capital Real Estate and Wells Fargo Bank to obtain a $22.0 million loan secured by the SpringHill Suites Savannah and a $15.0 million loan secured by the Hampton Inn & Suites Exeter. Each loan has a term of ten years, carries a fixed interest rate of 6.70%, and is interest-only for its duration.
Schedule of Future Scheduled Principal Payments of Debt Obligations	Future scheduled principal payments of debt obligations as of December 31, 2024, for each of the next five calendar years and thereafter are as follows (in thousands): Amount 2025 $ 155,957 2026 110,000 2027 — 2028 24,590 2029 23,681 Thereafter 94,954 Total debt before unamortized debt issue costs $ 409,182 Unamortized mortgage debt issue costs (2,332) Total debt outstanding $ 406,850

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	The difference between income tax expense and the amount computed by applying the statutory federal income tax rate to the combined income of the Company's TRS before taxes were as follows (dollars in thousands): For the year ended December 31, 2024 2023 2022 Book income (loss) before income taxes of the TRS $ 2,905 $ (7,309) $ (12,935) Statutory rate of 21% $ 610 $ (1,535) $ (2,716) Effect of state and local income taxes, net of federal tax benefit — (245) (450) Permanent adjustments 21 13 10 Change in valuation allowance (1,051) 1,579 2,971 Valuation allowance release — — — Other 420 188 185 Total income tax (benefit) expense $ — $ — $ — Effective tax rate — % — % — %
Schedule of Deferred Tax Assets and Liabilities	The tax effect of each type of temporary difference and carry forward that gives rise to the deferred tax asset as of December 31, 2024 and 2023 are as follows (in thousands): For the year ended December 31, 2024 2023 Gross deferred tax assets: Allowance for doubtful accounts $ 74 $ 71 Accrued compensation 375 179 Net operating loss 18,893 19,495 Gross deferred tax assets $ 19,342 $ 19,745 Less: Valuation Allowance $ (19,342) $ (19,745) Total deferred tax assets net of valuation allowance $ — $ — Gross deferred tax liabilities: Total book/tax difference in partnership $ — $ — Gross deferred tax liabilities: $ — $ — Net, deferred tax assets: $ — $ —

Dividends Declared and Paid (Ta

Dividends Declared and Paid (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Dividends Declared and Paid	The dividends and distributions and their tax characterization for the years ended December 31, 2024 and 2023 were as follows: Record Payment Common LTIP Taxable Ordinary Income Return of Capital Section 199A Dividends March 3/28/2024 4/15/2024 0.07 0.07 0.05392 0.01608 0.05392 June 6/28/2024 7/15/2024 0.07 0.07 0.05392 0.01608 0.05392 September 9/30/2024 10/15/2024 0.07 0.07 0.05392 0.01608 0.05392 December 12/31/2024 1/15/2025 0.07 0.07 0.05392 0.01608 0.05392 Total 2024 $ 0.28 $ 0.28 $ 0.21568 $ 0.06432 $ 0.21568 Record Payment Common LTIP Taxable Ordinary Income Return of Capital Section 199A Dividends March 3/31/2023 4/17/2023 0.07 0.07 0.07 — 0.07 June 6/30/2023 7/17/2023 0.07 0.07 0.07 — 0.07 September 9/29/2023 10/16/2023 0.07 0.07 0.07 — 0.07 December 12/29/2023 1/16/2024 0.07 0.07 0.07 — 0.07 Total 2023 $ 0.28 $ 0.28 $ 0.28 $ — $ 0.28 Record Payment Dividend Per Preferred Share Taxable Ordinary Income Return of Capital Section 199A Dividends March 3/28/2024 4/15/2024 $ 0.41406 $ 0.41406 $ — $ 0.41406 June 6/28/2024 7/15/2024 0.41406 0.41406 — 0.41406 September 9/30/2024 10/15/2024 0.41406 0.41406 — 0.41406 December 12/31/2024 1/15/2025 0.41406 0.41406 — 0.41406 Total 2024 $ 1.65624 $ 1.65624 $ — $ 1.65624 Record Payment Dividend Per Preferred Share Taxable Ordinary Income Return of Capital Section 199A Dividends March 3/31/2023 4/17/2023 $ 0.41406 $ 0.41406 $ — $ 0.41406 June 6/30/2023 7/17/2023 0.41406 0.41406 — 0.41406 September 9/29/2023 10/16/2023 0.41406 0.41406 — 0.41406 December 12/29/2023 1/16/2024 0.41406 0.41406 — 0.41406 Total 2023 $ 1.65624 $ 1.65624 $ — $ 1.65624

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of 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 year ended December 31, 2024 2023 2022 Numerator: Net (loss) income attributable to common shareholders $ (3,784) $ (5,306) $ 1,855 Dividends paid on unvested shares and units (127) (110) (25) Net (loss) income attributable to common shareholders $ (3,911) $ (5,416) $ 1,830 Denominator: Weighted average number of common shares - basic 48,900,997 48,847,386 48,795,642 Effect of dilutive securities: Unvested shares and units — — 263,080 Weighted average number of common shares - diluted 48,900,997 48,847,386 49,058,722 Basic (loss) income per common share: Net (loss) income attributable to common shareholders per weighted average basic common share $ (0.08) $ (0.11) $ 0.04 Diluted (loss) income per common share: Net (loss) income attributable to common shareholders per weighted average diluted common share $ (0.08) $ (0.11) $ 0.04

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Restricted Share Awards	A summary of the Company’s restricted share awards for the years ended December 31, 2024, 2023 and 2022 is as follows: December 31, 2024 December 31, 2023 December 31, 2022 Number of Shares Weighted - Average Grant Date Fair Value 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 5,789 $ 11.78 6,666 $ 11.47 10,000 $ 11.47 Granted 2,943 10.20 2,457 12.21 — — Vested (4,151) 11.62 (3,334) 11.47 (3,334) 11.47 Unvested at end of the period 4,581 $ 10.91 5,789 $ 11.78 6,666 $ 11.47
Schedule of Share-based Compensation Arrangements by Share-based Payment Award	A summary of the Company's LTIP unit awards for the years ended December 31, 2024, 2023 and 2022 is as follows: December 31, 2024 December 31, 2023 December 31, 2022 Number of Weighted - Number of Weighted - Number of Weighted - Non-vested at beginning of the period 999,955 $ 15.37 905,525 $ 15.03 764,178 $ 15.00 Granted 512,264 11.18 466,988 14.36 380,004 16.08 Vested (322,025) 14.03 (372,558) 13.27 (238,657) 16.61 Forfeited (50,630) 15.02 — — — — Non-vested at end of period 1,139,564 $ 13.88 999,955 $ 15.37 905,525 $ 15.03
Schedule of Share-based Payment Award, Performance-Based Long-Term Incentive Plan Payout Unit Awards	The 2024 Performance-Based LTIP Unit Awards, if earned, will be paid out between 50% and 200% of target value as follows: Relative TSR Hurdles (Percentile) Payout Percentage Threshold 25th 50% Target 55th 100% Maximum 80th 200%
Schedule of Share-based Payment Award, Valuation Assumptions	The grant date fair value 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 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 (1) 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 (2) 3/1/2021 198,564 $15.91 64% 3.4% 0.30% 2022 Time-Based LTIP Unit Awards 3/1/2022 152,004 $12.33 80% —% 1.01% 2022 Performance-Based LTIP Unit Awards 3/1/2022 228,000 $18.58 66% 3.5% 1.44% 2023 Time-Based LTIP Unit Awards 3/1/2023 171,171 $11.11 37% —% 5.11% 2023 Performance-Based LTIP Unit Awards 3/1/2023 256,757 $16.64 69% 3.5% 4.61% 2024 Time-Based LTIP Unit Awards 3/1/2024 204,909 $9.33 35% —% 4.92% 2024 Performance-Based LTIP Unit Awards 3/1/2024 307,355 $12.42 35% 2.6% 4.32% (1) In February 2023, following the end of the measurement period, the Company’s TSR met certain criteria and based on the Company’s TSR over the measurement period, 234,361 LTIP units vested. (2) In February 2024, following the end of the measurement period, the Company’s TSR met certain criteria and based on the Company’s TSR over the measurement period, 170,173 LTIP units vested.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Right of Use Asset and Liability	The following tables include information regarding the ROU assets and lease liabilities of the Company as of December 31, 2024: Balance Sheet Classification ROU Asset ROU Asset Finance lease assets, net Investment in hotel properties, net $ 42,750 $ — Operating lease assets, net Right of use asset, net 17,547 18,141 Total ROU asset, net $ 60,297 $ 18,141 Balance Sheet Classification Lease Liability Lease Liability Finance lease liability Lease liability $ 285 $ — Operating lease liability Lease liability 20,349 20,808 Total lease liability $ 20,634 $ 20,808
Schedule of Lease Cost	Lease Term and Discount Rate December 31, 2024 Weighted-average remaining lease term (years) 41.64 Weighted-average discount rate 6.88%
Schedule of Operating Lease Maturity	The following table includes information regarding the Company's total minimum lease payments for which it is the lessee, as of December 31, 2024, for each of the next five calendar years and thereafter (in thousands): Total Future Lease Payments Amount 2025 $ 1,966 2026 1,768 2027 1,313 2028 1,338 2029 1,338 Thereafter 61,172 Total lease payments $ 68,895 Less: Imputed interest (48,261) Present value of lease liabilities $ 20,634

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Management Agreement Terms	As of December 31, 2024, certain key terms of the Company's management agreements are (dollars are not in thousands): Property Management Company Base Management Fee Monthly Accounting Fee Monthly Revenue Management Fee Incentive Management Fee Cap Homewood Suites by Hilton Boston-Billerica/ Bedford/ Burlington IHM 3.0 % $1,200 $1,000 1.0 % Homewood Suites by Hilton Nashville-Brentwood IHM 3.0 % $1,200 $1,000 1.0 % Homewood Suites by Hilton Hartford-Farmington IHM 3.0 % $1,200 $1,000 1.0 % Hampton Inn & Suites Houston-Medical Center IHM 3.0 % $1,200 $1,000 1.0 % Residence Inn Long Island Holtsville IHM 3.0 % $1,200 $1,000 1.0 % Residence Inn White Plains IHM 3.0 % $1,200 $1,000 1.0 % Residence Inn New Rochelle IHM 3.0 % $1,200 $1,000 1.0 % Residence Inn Garden Grove IHM 3.0 % $1,500 $1,000 1.0 % Homewood Suites by Hilton San Antonio River Walk IHM 3.0 % $1,200 $1,000 1.0 % Residence Inn Washington DC IHM 3.0 % $1,200 $1,000 1.0 % Residence Inn Tysons Corner IHM 3.0 % $1,200 $1,000 1.0 % Hampton Inn Portland Downtown IHM 3.0 % $1,200 $1,000 1.0 % Courtyard Houston IHM 3.0 % $1,500 $1,000 1.0 % Hyatt Place Pittsburgh North Shore IHM 3.0 % $1,500 $1,000 1.0 % Hampton Inn Exeter IHM 3.0 % $1,200 $1,000 1.0 % Residence Inn Bellevue IHM 3.0 % $1,500 $1,000 1.0 % SpringHill Suites Savannah IHM 3.0 % $1,500 $1,000 1.0 % Residence Inn Silicon Valley I IHM 3.0 % $1,200 $1,000 1.0 % Residence Inn Silicon Valley II IHM 3.0 % $1,200 $1,000 1.0 % Residence Inn San Mateo IHM 3.0 % $1,200 $1,000 1.0 % Residence Inn Mountain View IHM 3.0 % $1,200 $1,000 1.0 % Hyatt Place Cherry Creek IHM 3.0 % $1,500 $1,000 1.0 % Courtyard Addison IHM 3.0 % $1,500 $1,000 1.0 % Residence Inn San Diego Gaslamp IHM 3.0 % $1,500 $1,000 1.0 % Hilton Garden Inn Marina del Rey IHM 3.0 % $1,500 $1,000 1.0 % Residence Inn Dedham IHM 3.0 % $1,200 $1,000 1.0 % Residence Inn Il Lugano IHM 3.0 % $1,500 $1,000 1.0 % Hilton Garden Inn Portsmouth IHM 3.0 % $1,500 $1,000 1.0 % Courtyard Summerville IHM 3.0 % $1,500 $1,000 1.0 % Embassy Suites Springfield IHM 3.0 % $1,500 $1,000 1.0 % Residence Inn Summerville IHM 3.0 % $1,500 $1,000 1.0 % Courtyard Dallas IHM 3.0 % $1,500 $1,000 1.0 % Residence Inn Austin Northwest/The Domain Area IHM 3.0 % $1,500 $1,000 1.0 % TownePlace Suites Austin Northwest/The Domain Area IHM 3.0 % $1,500 $1,000 1.0 % Home2 Suites Woodland Hills IHM 3.0 % $1,500 $1,000 1.0 % Hilton Garden Inn Destin Miramar Beach IHM 3.0 % $1,500 $1,000 1.0 % Home2 Suites Phoenix Downtown IHM 3.0 % $1,500 $1,000 1.0 %
Schedule of Franchise Agreement Terms	erms of the Company's franchise agreements are: Property Franchise/Royalty Fee Marketing/Program Fee Expiration Homewood Suites by Hilton Boston-Billerica/ Bedford/ Burlington 4.0 % 4.0 % 2025 Homewood Suites by Hilton Nashville-Brentwood 4.0 % 4.0 % 2025 Homewood Suites by Hilton Hartford-Farmington 4.0 % 4.0 % 2025 Hampton Inn & Suites Houston-Medical Center 6.0 % 4.0 % 2035 Residence Inn Long Island Holtsville 5.5 % 2.5 % 2025 Residence Inn White Plains 5.5 % 2.5 % 2030 Residence Inn New Rochelle 5.5 % 2.5 % 2030 Residence Inn Garden Grove 5.0 % 2.5 % 2031 Homewood Suites by Hilton San Antonio River Walk 4.0 % 4.0 % 2026 Residence Inn Washington DC 5.5 % 2.5 % 2033 Residence Inn Tysons Corner 5.0 % 2.5 % 2031 Hampton Inn Portland Downtown 6.0 % 4.0 % 2032 Courtyard Houston 5.5 % 2.0 % 2030 Hyatt Place Pittsburgh North Shore 5.0 % 3.5 % 2030 Hampton Inn Exeter 6.0 % 4.0 % 2031 Residence Inn Bellevue 5.5 % 2.5 % 2033 SpringHill Suites Savannah 5.0 % 2.5 % 2033 Residence Inn Silicon Valley I 5.5 % 2.5 % 2029 Residence Inn Silicon Valley II 5.5 % 2.5 % 2029 Residence Inn San Mateo 5.5 % 2.5 % 2029 Residence Inn Mountain View 5.5 % 2.5 % 2029 Hyatt Place Cherry Creek 5.0 % 3.5 % 2034 Courtyard Addison 5.5 % 2.0 % 2029 Residence Inn San Diego Gaslamp 6.0 % 2.5 % 2035 Hilton Garden Inn Marina del Rey 5.5 % 4.3 % 2030 Residence Inn Dedham 6.0 % 2.5 % 2030 Residence Inn Il Lugano 6.0 % 2.5 % 2045 Hilton Garden Inn Portsmouth 5.5 % 4.0 % 2037 Courtyard Summerville 6.0 % 2.5 % 2037 Embassy Suites Springfield 5.5 % 4.0 % 2037 Residence Inn Summerville 6.0 % 2.5 % 2038 Courtyard Dallas 6.0 % 2.0 % 2038 Residence Inn Austin Northwest/The Domain Area 6.0 % 2.5 % 2036 TownePlace Suites Austin Northwest/The Domain Area 5.5 % 2.0 % 2041 Home2 Suites Woodland Hills 5.0% 3.0 % 2040 Hilton Garden Inn Destin Miramar Beach 5.5 % 4.0 % 2042 Home2 Suites Phoenix Downtown 3.0% to 5.0% 3.5 % 2044

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table includes revenue, significant hotel operating expenses, and Adjusted Hotel EBITDA for the Company’s hotels, reconciled to the consolidated amounts included in the Company’s consolidated statements of operations (in thousands): For the year ended December 31, 2024 2023 2022 Revenue: Room $ 290,290 $ 284,999 $ 272,265 Food and beverage 7,737 8,124 7,303 Other 18,077 16,703 13,958 Total hotel property level revenue (1) 316,104 309,826 293,526 Expenses: Room 65,311 61,794 56,073 Food and beverage 6,218 6,352 5,520 Telephone 1,360 1,439 1,449 Other hotel operating 4,127 3,712 3,488 General and administrative 28,826 28,884 26,086 Franchise and marketing fees 25,355 24,897 23,674 Advertising and promotions 6,229 6,085 5,397 Utilities 13,161 13,007 12,048 Repairs and maintenance 16,516 15,837 14,145 Management fees paid to related parties 10,733 10,557 10,133 Insurance 3,340 2,822 2,746 Property taxes, ground rent and insurance 23,709 23,507 21,210 Total hotel property level expenses 204,885 198,893 181,969 Adjusted Hotel EBITDA $ 111,219 $ 110,933 $ 111,557 Reconciliation of Adjusted Hotel EBITDA to net income Interest expense, including amortization of deferred fees (30,880) (27,128) (26,454) Depreciation and amortization (60,741) (58,254) (59,350) Corporate general and administrative (18,388) (17,517) (17,339) Other charges (327) (2,300) (683) Impairment loss (4,256) (4,266) — Loss on early extinguishment of debt (17) (696) (138) Interest and other income 1,712 1,534 10 Gain on sale of hotel properties 5,713 18 2,268 Gain from partial lease termination — 164 — Net income $ 4,035 $ 2,488 $ 9,871 (1) The difference between total hotel property level revenue and total revenue on the consolidated statements of operations is due to reimbursable costs from related parties of $1.1 million, $1.3 million, and $1.3 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Organization (Details)

Organization (Details)	12 Months Ended
	Dec. 31, 2024 room hotel state
Subsidiary, Sale of Stock [Line Items]
Aggregate number of rooms in hotels | room	5,596
Number of states in which hotels are owned | state	16
Related Party | Island Hospitality Management Inc.
Subsidiary, Sale of Stock [Line Items]
Number of hotels managed by related party | hotel	37
Ownership percentage in related party owned by the company's chairman	100%
Operating Partnership
Subsidiary, Sale of Stock [Line Items]
Percentage of common units of limited partnership owned (as a percentage)	100%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Investment in Hotel Properties (Details) - hotel	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Number of hotel properties impaired	1	1
Number of hotel properties held for sale	0	0
Building
Property, Plant and Equipment [Line Items]
Useful life	40 years
Land Improvements
Property, Plant and Equipment [Line Items]
Useful life	20 years
Building Improvements | Minimum
Property, Plant and Equipment [Line Items]
Useful life	5 years
Building Improvements | Maximum
Property, Plant and Equipment [Line Items]
Useful life	20 years
Furniture, fixtures, and equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful life	1 year
Furniture, fixtures, and equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful life	10 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Restricted Cash and Hotel Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 9,649	$ 17,619
Allowance for doubtful accounts related to receivables	300	280
Renovation, Property Tax And Insurance Escrows
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 9,600	$ 17,600

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Deferred Costs and Mortgage Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Loan costs	$ 6,323	$ 6,256
Franchise fees	4,961	4,311
Other	334	102
Deferred costs, gross	11,618	10,669
Less accumulated amortization	(7,580)	(6,423)
Deferred costs, net	$ 4,038	$ 4,246

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Amortization of deferred franchise fees	$ 211	$ 214	$ 246
Amortization of deferred financing fees included in interest expense	$ 1,363	1,201	1,444
Percentage of REIT taxable income distributed to its shareholders (at least)	90%
Tax holiday period for REIT taxable income	4 years
Number of reportable segments | segment	1
Class A Performance LTIP Units
Debt Instrument [Line Items]
Distribution entitlement (in percentage)	10%
Unsecured Term Loan
Debt Instrument [Line Items]
Amortization of deferred financing fees included in interest expense	$ 400	200	0
Franchise
Debt Instrument [Line Items]
Amortization of deferred franchise fees	200	200	200
Loans
Debt Instrument [Line Items]
Amortization of deferred financing fees included in interest expense	700	700	1,200
Mortgages
Debt Instrument [Line Items]
Amortization of deferred financing fees included in interest expense	$ 300	$ 300	$ 300

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Schedule of Mortgage Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Mortgage debt	$ 159,182	$ 396,109
Deferred financing costs	(1,971)	(1,565)
Mortgage debt, net	$ 157,211	$ 394,544

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Schedule of Unsecured Term Loan (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Unsecured term loan	$ 140,000	$ 90,000
Deferred financing costs	(362)	(467)
Unsecured term loan, net	$ 139,638	$ 89,533

Acquisition of Hotel Properti_2

Acquisition of Hotel Properties (Details) - USD ($) $ in Thousands			12 Months Ended
	May 30, 2024	Mar. 08, 2022	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Right of use asset, net				$ 17,547	$ 18,141
Home2 Suites Phoenix Downtown
Business Acquisition [Line Items]
Consideration transferred	$ 43,300
Right of use asset, net	300
Acquisition related costs	$ 100
Hilton Garden Inn Destin Miramar Beach
Business Acquisition [Line Items]
Consideration transferred		$ 31,000
Property acquisition costs capitalized			$ 48

Disposition of Hotel Properti_2

Disposition of Hotel Properties (Details) $ in Thousands						12 Months Ended
	Dec. 16, 2024 USD ($)	Dec. 06, 2024 USD ($)	Jan. 09, 2024 USD ($)	May 13, 2022 USD ($) hotel	May 06, 2022 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale of property						$ 5,713	$ 18	$ 2,268
Number of hotels sold | hotel				3
Homewood Suites By Hilton Minneapolis-Mall of America | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale of property	$ (800)
Amount sold in disposition of property	$ 13,800
Homewood Suites By Hilton Orlando-Maitland | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale of property		$ 6,700
Amount sold in disposition of property		$ 15,500
Hilton Garden Inn Denver Tech Center | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale of property			$ (200)
Amount sold in disposition of property			$ 18,000
Homewood Suites Dallas-Market Center, Courtyard Houston West University, And Residence Inn Houston West University | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale of property				$ 1,800
Amount sold in disposition of property				$ 57,000
Hilton Garden Inn Boston-Burlington | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale of property					$ 500
Amount sold in disposition of property					$ 23,200

Investment in Hotel Propertie_2

Investment in Hotel Properties - Schedule of Investments in Hotel Properties (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Investments, All Other Investments [Abstract]
Land and improvements	$ 280,415	$ 289,671
Building and improvements	1,232,438	1,274,970
Furniture, fixtures and equipment	107,947	108,222
Finance lease assets	43,760	0
Renovations in progress	17,232	15,138
Investment in hotel properties, at cost	1,681,792	1,688,001
Less accumulated depreciation and amortization	(484,274)	(460,368)
Investment in hotel properties, net	$ 1,197,518	$ 1,227,633

Investment in Hotel Propertie_3

Investment in Hotel Properties - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jan. 24, 2022
Schedule of Investments [Line Items]
Write-off of hotel development costs included in other charges	$ 0	$ 2,238	$ 0
Hilton Garden Inn Burlington
Schedule of Investments [Line Items]
Impairment loss			$ 4,300
Hilton Garden Inn Denver Tech Center
Schedule of Investments [Line Items]
Impairment loss	$ 4,300
Home2 Suites Woodland Hills
Schedule of Investments [Line Items]
Costs of development incurred to date				$ 70,900
Land | Home2 Suites Woodland Hills
Schedule of Investments [Line Items]
Costs of development incurred to date				6,600
Other Development Costs | Home2 Suites Woodland Hills
Schedule of Investments [Line Items]
Costs of development incurred to date				$ 64,300

Debt - Schedule of Components o

Debt - Schedule of Components of Mortgage Debt (Details) $ in Thousands						12 Months Ended
	Jun. 06, 2024 USD ($) agreement subsidiary	May 31, 2024 USD ($)	Aug. 31, 2023 USD ($) agreement subsidiary	Aug. 30, 2023 USD ($)	Aug. 16, 2023 USD ($) subsidiary agreement	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Participating Mortgage Loans [Line Items]
Property Carrying Value						$ 226,411
Total debt before unamortized debt issue costs						409,182	$ 486,109
Unamortized term loan and mortgage debt issue costs						(2,332)	(2,032)
Total debt outstanding						$ 406,850	484,077
Barclays Capital Real Estate And Wells Fargo Bank
Participating Mortgage Loans [Line Items]
Number of subsidiaries | subsidiary	2
Number of agreements | agreement	2
Revolving Credit Facility
Participating Mortgage Loans [Line Items]
Interest Rate						6.66%
Property Carrying Value						$ 0
Total debt before unamortized debt issue costs						$ 110,000	0
Revolving Credit Facility | Revolving Credit Facility
Participating Mortgage Loans [Line Items]
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]						Secured Overnight Financing Rate (SOFR) [Member]
Debt instrument, basis spread on variable rate						0.10%
Revolving Credit Facility | Minimum | Revolving Credit Facility | Variable Rate Component One
Participating Mortgage Loans [Line Items]
Debt instrument, basis spread on variable rate						1.50%
Revolving Credit Facility | Maximum | Revolving Credit Facility | Variable Rate Component One
Participating Mortgage Loans [Line Items]
Debt instrument, basis spread on variable rate						2.25%
Unsecured Term Loan
Participating Mortgage Loans [Line Items]
Interest Rate						6.75%
Property Carrying Value						$ 0
Total debt before unamortized debt issue costs						$ 140,000	90,000
Residence Inn by Marriott Garden Grove, CA
Participating Mortgage Loans [Line Items]
Interest Rate						4.79%
Property Carrying Value						$ 0
Total debt before unamortized debt issue costs						$ 0	29,496
Residence Inn by Marriott Silicon Valley I, CA
Participating Mortgage Loans [Line Items]
Interest Rate						4.64%
Property Carrying Value						$ 0
Total debt before unamortized debt issue costs						$ 0	60,134
Residence Inn by Marriott Silicon Valley II, CA
Participating Mortgage Loans [Line Items]
Interest Rate						4.64%
Property Carrying Value						$ 0
Total debt before unamortized debt issue costs						$ 0	65,609
Residence Inn by Marriott San Mateo, CA
Participating Mortgage Loans [Line Items]
Interest Rate						4.64%
Property Carrying Value						$ 0
Total debt before unamortized debt issue costs						$ 0	45,100
Residence Inn by Marriott Mountain View, CA
Participating Mortgage Loans [Line Items]
Interest Rate						4.64%
Property Carrying Value						$ 0
Total debt before unamortized debt issue costs						$ 0	35,171
Hilton Garden Inn Marina del Rey, CA
Participating Mortgage Loans [Line Items]
Interest Rate						4.68%
Property Carrying Value						$ 0
Total debt before unamortized debt issue costs						$ 0	19,023
Homewood Suites by Hilton Billerica, MA
Participating Mortgage Loans [Line Items]
Interest Rate						4.32%
Property Carrying Value						$ 0
Total debt before unamortized debt issue costs						$ 0	14,481
Hampton Inn & Suites Houston-Medical Center, TX
Participating Mortgage Loans [Line Items]
Interest Rate						4.25%
Property Carrying Value						$ 13,620
Total debt before unamortized debt issue costs						$ 15,957	16,338
Courtyard by Marriott Dallas, TX
Participating Mortgage Loans [Line Items]
Interest Rate						7.61%
Property Carrying Value						$ 39,404
Total debt before unamortized debt issue costs						$ 24,500	24,500
Courtyard by Marriott Dallas, TX | Wells Fargo Bank
Participating Mortgage Loans [Line Items]
Interest Rate				7.61%
Total debt before unamortized debt issue costs				$ 24,500
Debt instrument, term				5 years
Hyatt Place Pittsburgh, PA
Participating Mortgage Loans [Line Items]
Interest Rate						7.29%
Property Carrying Value						$ 29,830
Total debt before unamortized debt issue costs						$ 23,300	0
Hyatt Place Pittsburgh, PA | Wells Fargo Bank
Participating Mortgage Loans [Line Items]
Interest Rate		7.29%
Total debt before unamortized debt issue costs		$ 23,300
Debt instrument, term		5 years
Residence Inn by Marriott Austin, TX
Participating Mortgage Loans [Line Items]
Interest Rate						7.42%
Property Carrying Value						$ 33,671
Total debt before unamortized debt issue costs						$ 20,850	20,850
Residence Inn by Marriott Austin, TX | Barclays Capital Real Estate
Participating Mortgage Loans [Line Items]
Interest Rate					7.42%
Total debt before unamortized debt issue costs					$ 20,900
Debt instrument, term					10 years
Debt instrument, period of interest					5 years
Amortization period					30 years
TownePlace Suites by Marriott Austin, TX
Participating Mortgage Loans [Line Items]
Interest Rate						7.42%
Property Carrying Value						$ 30,092
Total debt before unamortized debt issue costs						$ 19,075	19,075
TownePlace Suites by Marriott Austin, TX | Barclays Capital Real Estate
Participating Mortgage Loans [Line Items]
Interest Rate					7.42%
Total debt before unamortized debt issue costs					$ 19,100
Debt instrument, term					10 years
Debt instrument, period of interest					5 years
Amortization period					30 years
Courtyard by Marriott Summerville, SC
Participating Mortgage Loans [Line Items]
Interest Rate						7.33%
Property Carrying Value						$ 18,175
Total debt before unamortized debt issue costs						$ 9,000	9,000
Courtyard by Marriott Summerville, SC | Wells Fargo Bank
Participating Mortgage Loans [Line Items]
Interest Rate			7.33%
Total debt before unamortized debt issue costs			$ 9,000
Debt instrument, term			10 years
Residence Inn by Marriott Summerville, SC
Participating Mortgage Loans [Line Items]
Interest Rate						7.33%
Property Carrying Value						$ 16,908
Total debt before unamortized debt issue costs						$ 9,500	9,500
Residence Inn by Marriott Summerville, SC | Wells Fargo Bank
Participating Mortgage Loans [Line Items]
Interest Rate			7.33%
Total debt before unamortized debt issue costs			$ 9,500
Debt instrument, term			10 years
SpringHill Suites by Marriott Savannah, GA
Participating Mortgage Loans [Line Items]
Interest Rate						6.70%
Property Carrying Value						$ 32,579
Total debt before unamortized debt issue costs						$ 22,000	27,832
SpringHill Suites by Marriott Savannah, GA | Barclays Capital Real Estate And Wells Fargo Bank
Participating Mortgage Loans [Line Items]
Interest Rate	6.70%
Total debt before unamortized debt issue costs	$ 22,000
Debt instrument, term	10 years
Hampton Inn & Suites Exeter
Participating Mortgage Loans [Line Items]
Interest Rate						6.70%
Property Carrying Value						$ 12,132
Total debt before unamortized debt issue costs						$ 15,000	$ 0
Hampton Inn & Suites Exeter | Barclays Capital Real Estate And Wells Fargo Bank
Participating Mortgage Loans [Line Items]
Interest Rate	6.70%
Total debt before unamortized debt issue costs	$ 15,000
Debt instrument, term	10 years
Delayed Draw Term Loan | Minimum | Revolving Credit Facility | Variable Rate Component One
Participating Mortgage Loans [Line Items]
Debt instrument, basis spread on variable rate						1.45%
Delayed Draw Term Loan | Maximum | Revolving Credit Facility | Variable Rate Component One
Participating Mortgage Loans [Line Items]
Debt instrument, basis spread on variable rate						2.20%
Residence Inn by Marriott | Barclays Capital Real Estate
Participating Mortgage Loans [Line Items]
Number of subsidiaries | subsidiary					2
Number of agreements | agreement					2
Courtyard by Marriott Summerville | Wells Fargo Bank
Participating Mortgage Loans [Line Items]
Number of subsidiaries | subsidiary			2
Number of agreements | agreement			2
Revolving Credit Facility and Unsecured Term Loan
Participating Mortgage Loans [Line Items]
Total debt before unamortized debt issue costs						$ 250,000

Debt - Additional Information (

Debt - Additional Information (Details)				12 Months Ended
	Dec. 19, 2022 USD ($)	Oct. 28, 2022 USD ($) extension_option	Oct. 26, 2021 extension_option	Dec. 31, 2024 USD ($) mortgage_debt_lender	Dec. 31, 2023 USD ($) mortgage_loan	May 03, 2024 USD ($)	May 02, 2024 USD ($)	Oct. 26, 2018 USD ($)
Debt Instrument [Line Items]
Outstanding borrowing under the revolving credit facility				$ 110,000,000	$ 0
Number of mortgage loans | mortgage_loan					8
Number of mortgage debt lenders enforcing cash trap provisions | mortgage_debt_lender				1
Restricted cash				$ 200,000
Construction loan | Variable Rate Component One
Debt Instrument [Line Items]
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]				LIBOR
Debt instrument, basis spread on variable rate				3.50%
Fixed Rate Debt
Debt Instrument [Line Items]
Estimated fair value of debt				$ 164,800,000	$ 396,000,000
Revolving Credit Facility and Unsecured Term Loan
Debt Instrument [Line Items]
Outstanding borrowing under the revolving credit facility				250,000,000	90,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Number of extension options | extension_option			2
Estimated fair value of debt				250,000,000	90,000,000
Residence Inn by Marriott Garden Grove, CA
Debt Instrument [Line Items]
Repayments of debt				29,300,000
Residence Inn Mountain View
Debt Instrument [Line Items]
Repayments of debt				34,900,000
SpringHill Suites by Marriott Savannah, GA
Debt Instrument [Line Items]
Repayments of debt				27,600,000
Residence Inn by Marriott Silicon Valley I, CA
Debt Instrument [Line Items]
Repayments of debt				59,500,000
Residence Inn by Marriott Silicon Valley II, CA
Debt Instrument [Line Items]
Repayments of debt				65,000,000
Residence Inn by Marriott San Mateo, CA
Debt Instrument [Line Items]
Repayments of debt				44,700,000
Hilton Garden Inn Marina del Rey
Debt Instrument [Line Items]
Repayments of debt				18,800,000
Homewood Suites By Hilton San Antonio Tx
Debt Instrument [Line Items]
Repayments of debt				14,200,000	14,400,000
Construction loan
Debt Instrument [Line Items]
Repayments of debt					39,300,000
Residence Inn Tysons
Debt Instrument [Line Items]
Repayments of debt					19,700,000
Courtyard by Marriott Houston, TX
Debt Instrument [Line Items]
Repayments of debt					16,000,000
Hyatt Place Pittsburgh, PA
Debt Instrument [Line Items]
Repayments of debt					19,700,000
Bellevue Residence Inn Hotel
Debt Instrument [Line Items]
Repayments of debt					$ 40,500,000
Revolving Credit Facility
Debt Instrument [Line Items]
Borrowing capacity (up to)	$ 260,000,000
Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Borrowing capacity (up to)		$ 215,000,000		$ 150,000,000				$ 250,000,000
Period of extension options		6 months
Increasing commitments amount	$ 45,000,000
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]				Secured Overnight Financing Rate (SOFR) [Member]
Debt instrument, basis spread on variable rate				0.10%
Revolving Credit Facility | Unsecured Term Loan
Debt Instrument [Line Items]
Borrowing capacity (up to)		$ 90,000,000				$ 140,000,000	$ 90,000,000
Number of extension options | extension_option		2
Period of extension options		1 year

Debt - Schedule of Future Sched

Debt - Schedule of Future Scheduled Principal Payments of Debt Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
2025	$ 155,957
2026	110,000
2027	0
2028	24,590
2029	23,681
Thereafter	94,954
Total debt before unamortized debt issue costs	409,182
Unamortized mortgage debt issue costs	(2,332)	$ (2,032)
Total debt outstanding	$ 406,850

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Book income (loss) before income taxes of the TRS	$ 2,905	$ (7,309)	$ (12,935)
Statutory rate of 21%	610	(1,535)	(2,716)
Effect of state and local income taxes, net of federal tax benefit	0	(245)	(450)
Permanent adjustments	21	13	10
Change in valuation allowance	(1,051)	1,579	2,971
Valuation allowance release	0	0	0
Other	420	188	185
Total income tax expense (benefit)	$ 0	$ 0	$ 0
Effective tax rate	0%	0%	0%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Taxes [Line Items]
Valuation allowance	$ 19,342	$ 19,745
TRS
Income Taxes [Line Items]
Percentage of voting interests of gross deferred tax asset	100%
NOL carryforwards, federal	$ 73,600
NOL carryforwards, state and local	$ 64,500

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Gross deferred tax assets:
Allowance for doubtful accounts	$ 74	$ 71
Accrued compensation	375	179
Net operating loss	18,893	19,495
Gross deferred tax assets	19,342	19,745
Less: Valuation Allowance	(19,342)	(19,745)
Total deferred tax assets net of valuation allowance	0	0
Gross deferred tax liabilities:
Total book/tax difference in partnership	0	0
Gross deferred tax liabilities:	0	0
Net, deferred tax assets:	$ 0	$ 0

Dividends Declared and Paid - A

Dividends Declared and Paid - Additional Information (Details)		3 Months Ended								12 Months Ended
	Jun. 30, 2021	Dec. 31, 2024 $ / shares	Sep. 30, 2024 $ / shares	Jun. 30, 2024 $ / shares	Mar. 31, 2024 $ / shares	Dec. 31, 2023 $ / shares	Sep. 30, 2023 $ / shares	Jun. 30, 2023 $ / shares	Mar. 31, 2023 $ / shares	Dec. 31, 2024 $ / shares	Dec. 31, 2023 $ / shares	Dec. 31, 2022 $ / shares
Class of Stock [Line Items]
Common shares, dividends declared per share (in dollars per share)		$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.28	$ 0.28	$ 0.07
Regular Long-term incentive plan (LTIP) units, distributions per unit (in dollars per share)										$ 0.28	$ 0.28	$ 0.07
Capital gains considered as ordinary income percentage										0.7703	1
Capital gains considered as return of capital percentage										0.2297
Preferred stock, dividends per share, declared (in dollars per share)		$ 0.41406	$ 0.41406	$ 0.41406	$ 0.41406	$ 0.41406	$ 0.41406	$ 0.41406	$ 0.41406	$ 1.65624	$ 1.65624
Percentage of distribution considered capital gain										100%
Percentage of distribution considered taxable income											100%
Series A Preferred Shares
Class of Stock [Line Items]
Preferred stock, dividends per share, declared (in dollars per share)										$ 1.65624	$ 1.65624
Preferred shares, dividend rate, percentage	6.625%									6.625%

Dividends Declared and Paid - S

Dividends Declared and Paid - Schedule of Dividend Information (Details) - $ / shares	3 Months Ended								12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Distributions per common share (in dollars per share)	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.28	$ 0.28	$ 0.07
Preferred stock, dividends per share, declared (in dollars per share)	0.41406	0.41406	0.41406	0.41406	0.41406	0.41406	0.41406	0.41406	1.65624	1.65624
LTIP unit distribution amount (in dollars per share)						0.07	0.07	0.07
Taxable Ordinary Income (in dollars per share)						0.07	0.07	0.07
Return of Capital (in dollars per share)						0	0	0
Common Shares
Class of Stock [Line Items]
LTIP unit distribution amount (in dollars per share)	0.07	0.07	0.07	0.07	0.07				0.28	0.28
Taxable Ordinary Income (in dollars per share)	0.05392	0.05392	0.05392	0.05392	0.07				0.21568	0.28
Return of Capital (in dollars per share)	0.01608	0.01608	0.01608	0.01608	0				0.06432	0
Section 199A Dividends (in dollars per share)	0.05392	0.05392	0.05392	0.05392	0.07	0.07	0.07	0.07	0.21568	0.28
Preferred Shares
Class of Stock [Line Items]
Taxable Ordinary Income (in dollars per share)	0.41406	0.41406	0.41406	0.41406	0.41406	0.41406	0.41406	0.41406	1.65624	1.65624
Return of Capital (in dollars per share)	0	0	0	0	0	0	0	0	0	0
Section 199A Dividends (in dollars per share)	$ 0.41406	$ 0.41406	$ 0.41406	$ 0.41406	$ 0.41406	$ 0.41406	$ 0.41406	$ 0.41406	$ 1.65624	$ 1.65624

Shareholders' Equity (Details)

Shareholders' Equity (Details)		1 Months Ended		12 Months Ended
	Jun. 30, 2021 USD ($) $ / shares shares	Jan. 31, 2022 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2024 USD ($) vote $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($)
Stockholders Equity Note Disclosure [Line Items]
Common shares, shares authorized (up to) (in shares)				500,000,000	500,000,000
Common shares, par value (in dollars per share) | $ / shares				$ 0.01	$ 0.01
Number of votes per common share | vote				1
Common shares, shares outstanding (in shares)				48,912,293	48,859,836
Proceeds from issuance of common shares | $				$ 53,000	$ 61,000	$ 57,000
Preferred shares, shares authorized (up to) (in shares)				100,000,000	100,000,000
Preferred shares, par value (in dollars per share) | $ / shares				$ 0.01	$ 0.01
Preferred shares, shares issued (in shares)				4,800,000	4,800,000
Preferred shares, shares outstanding (in shares)				4,800,000	4,800,000
Preferred dividends | $				$ 7,950,000	$ 7,950,000	$ 7,950,000
Stock redemption, exchange ratio				1
Vested operating partnership units held by current and former employees (in shares)				1,909,342
DRSPP
Stockholders Equity Note Disclosure [Line Items]
Stock purchase plan, authorized amount | $			$ 50,000,000
Additional common shares issued (in shares)				5,844
Weighted average price per share (in dollars per share) | $ / shares				$ 9.15
Proceeds from issuance of common shares | $				$ 53,000
Remaining authorized repurchase amount | $				49,900,000
ATM Plan
Stockholders Equity Note Disclosure [Line Items]
Stock purchase plan, authorized amount | $		$ 100,000,000
Remaining authorized repurchase amount | $				$ 77,500,000
Series A Preferred Shares
Stockholders Equity Note Disclosure [Line Items]
Preferred shares, par value (in dollars per share) | $ / shares	$ 0.01			$ 0.01
Preferred shares, shares issued (in shares)	4,800,000			4,800,000
Preferred shares, shares outstanding (in shares)	4,800,000			4,800,000
Preferred shares, dividend rate, percentage	6.625%			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	$ 1.65624
Change of control, redemption option, period following change of control	120 days
Share cap (in shares)	3.701

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	414,635	157,641	0

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Reconciliation of Amounts Used in Calculating Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Numerator:
Net (loss) income attributable to common shareholders	$ (3,784)	$ (5,306)	$ 1,855
Dividends paid on unvested shares and units	(127)	(110)	(25)
Net (loss) income attributable to common shareholders	$ (3,911)	$ (5,416)	$ 1,830
Denominator:
Weighted average number of common shares - basic (in shares)	48,900,997	48,847,386	48,795,642
Effect of dilutive securities:
Unvested shares and units (in shares)		0	263,080
Weighted average number of common shares - diluted (In shares)	48,900,997	48,847,386	49,058,722
Basic (loss) income per common share:
Net (loss) income attributable to common shareholders per weighted average basic common share (in dollars per share)	$ (0.08)	$ (0.11)	$ 0.04
Diluted (loss) income per common share:
Net (loss) income attributable to common shareholders per weighted average diluted common share (in dollars per share)	$ (0.08)	$ (0.11)	$ 0.04

Equity Incentive Plan - Additio

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

1 Months Ended

12 Months Ended

Mar. 01, 2024 $ / shares shares

Jan. 16, 2024 shares

Mar. 01, 2023 shares

Mar. 01, 2022 shares

Mar. 01, 2021 shares

Mar. 01, 2020 shares

Mar. 01, 2019 shares

Jan. 31, 2024 shares

Jan. 31, 2023 shares

Jan. 31, 2022 shares

Dec. 31, 2024 USD ($) shares

Dec. 31, 2023 USD ($) shares

Dec. 31, 2022 USD ($) shares

May 24, 2022 shares

Independent Trustees

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

Trustee fees | $

$ 135

$ 120

$ 120

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

61,551

43,670

43,378

34,672

Minimum

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

Trustee fees paid in shares (up to 100%) (at least 50%) (in percentage)

59%

Maximum

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

Trustee fees paid in shares (up to 100%) (at least 50%) (in percentage)

100%

Equity Incentive Plan

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

Number of shares authorized (in shares)

1,600,000

Common shares available for issuance (in shares)

744,619

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 | $

$ 33

45

Weighted - average period for recognition of unrecognized compensation costs

1 year 9 months 18 days

Compensation expense recognized | $

$ 42

$ 47

$ 38

Shares granted (in shares)

2,943

2,457

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 8 months 12 days

Compensation expense recognized | $

$ 5,800

$ 5,600

$ 5,000

Exchange ratio

1

Shares granted (in shares)

512,264

466,988

380,004

Total unrecognized compensation cost related to LTIP Units | $

$ 6,800

$ 7,100

Time-Based LTIP Unit Awards

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

Shares granted (in shares)

204,909

171,171

152,004

132,381

130,206

88,746

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

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

Shares granted (in shares)

204,909

Performance-Based LTIP Unit Awards

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

Shares granted (in shares)

307,355

256,757

228,000

198,564

195,301

133,107

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

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

Shares granted (in shares)

307,355

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

$ 12.42

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

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

Percentage of target value to be paid out

50%

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

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

Percentage of target value to be paid out

200%

2010 Equity Incentive Plan

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

Number of trading days preceding the reporting date for which average of closing price of common shares is taken

10 days

Equity Incentive Plan - Schedul

Equity Incentive Plan - Schedule of Restricted Share Awards (Details) - Restricted Stock - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Number of Shares
Number of Shares, Nonvested at beginning of the period (in shares)	5,789	6,666	10,000
Number of Shares, Granted (in shares)	2,943	2,457	0
Number of Shares, Vested (in shares)	(4,151)	(3,334)	(3,334)
Number of Shares, Nonvested at end of the period (in shares)	4,581	5,789	6,666
Weighted - Average  Grant Date Fair Value
Weighted - Average Grant Date Fair Value, Nonvested at beginning of the period (in dollars per share)	$ 11.78	$ 11.47	$ 11.47
Weighted - Average Grant Date Fair Value, Granted (in dollars per share)	10.20	12.21	0
Weighted - Average Grant Date Fair Value, Vested (in dollars per share)	11.62	11.47	11.47
Weighted - Average Grant Date Fair Value, Nonvested at end of the period (in dollars per share)	$ 10.91	$ 11.78	$ 11.47

Equity Incentive Plan - Sched_2

Equity Incentive Plan - Schedule of LTIP Unit Awards (Details) - Long Term Incentive Plan Units - $ / shares	1 Months Ended		12 Months Ended
	Feb. 29, 2024	Feb. 28, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Number of Units
Number of Shares, Nonvested at beginning of the period (in shares)			999,955	905,525	764,178
Number of Shares, Granted (in shares)			512,264	466,988	380,004
Number of Shares, Vested (in shares)	(170,173)	(234,361)	(322,025)	(372,558)	(238,657)
Number of shares forfeited (in shares)			(50,630)	0	0
Number of Shares, Nonvested at end of the period (in shares)			1,139,564	999,955	905,525
Weighted - Average  Grant Date Fair Value
Weighted - Average Grant Date Fair Value, Nonvested at beginning of the period (in dollars per share)			$ 15.37	$ 15.03	$ 15
Weighted - Average Grant Date Fair Value, Granted (in dollars per share)			11.18	14.36	16.08
Weighted - Average Grant Date Fair Value, Vested (in dollars per share)			14.03	13.27	16.61
Weighted - Average Grant Date Fair Value, Forfeited (in dollars per share)			15.02	0	0
Weighted - Average Grant Date Fair Value, Nonvested at end of the period (in dollars per share)			$ 13.88	$ 15.37	$ 15.03

Equity Incentive Plan - Sched_3

Equity Incentive Plan - Schedule of Payout Awards (Details)	Mar. 01, 2024
Relative TSR Hurdles (Percentile)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Threshold	25%
Target	55%
Maximum	80%
Payout Percentage
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Threshold	50%
Target	100%
Maximum	200%

Equity Incentive Plan - Sched_4

Equity Incentive Plan - Schedule of Valuation Assumptions (Details) - $ / shares							1 Months Ended		12 Months Ended
	Mar. 01, 2024	Mar. 01, 2023	Mar. 01, 2022	Mar. 01, 2021	Mar. 01, 2020	Mar. 01, 2019	Feb. 29, 2024	Feb. 28, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Time-Based LTIP Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Granted (in shares)	204,909	171,171	152,004	132,381	130,206	88,746
Estimate Value Per Unit (in dollars per share)	$ 9.33	$ 11.11	$ 12.33	$ 12.52	$ 13.05	$ 18.45
Volatility	35%	37%	80%	78%	20%	21%
Dividend Yield	0%	0%	0%	0%	0%	0%
Risk-Free Interest Rate	4.92%	5.11%	1.01%	0.08%	1.06%	2.57%
Performance-Based LTIP Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Granted (in shares)	307,355	256,757	228,000	198,564	195,301	133,107
Estimate Value Per Unit (in dollars per share)	$ 12.42	$ 16.64	$ 18.58	$ 15.91	$ 13.66	$ 18.91
Volatility	35%	69%	66%	64%	20%	21%
Dividend Yield	2.60%	3.50%	3.50%	3.40%	8.10%	6.20%
Risk-Free Interest Rate	4.32%	4.61%	1.44%	0.30%	0.90%	2.55%
Long Term Incentive Plan Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Granted (in shares)									512,264	466,988	380,004
Estimate Value Per Unit (in dollars per share)									$ 13.88	$ 15.37	$ 15.03	$ 15
Vested (in shares)							170,173	234,361	322,025	372,558	238,657

Leases - Additional Information

Leases - Additional Information (Details) $ in Thousands		1 Months Ended		12 Months Ended
	Jun. 01, 2023 USD ($) ft²	May 31, 2024 USD ($)	Sep. 30, 2015	Dec. 31, 2024 USD ($) parking_space term	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Term of contract		10 years
Net rentable area | ft²	7,374
Early termination payment	$ 100
Gain from partial lease termination				$ 0	$ 164	$ 0
Lessee, finance lease, term of contract				8 years
Lease termination fee				$ 100
Minimum
Lessee, Lease, Description [Line Items]
Operating lease, annual base rent		$ 600
Finance lease, fixed annual rent payments				26
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, annual base rent		$ 700
Finance lease, fixed annual rent payments				$ 81
Other 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
Operating leases, monthly payment				$ 44
Operating lease, periodic increase, (in percentage)				10%
Periodic increase in monthly payment				5 years
Annual supplemental rent, percentage of gross revenues				5%
Annual supplemental rent subtraction, base rent multiplier				12
Other Leases | Hilton Garden Inn Marina del Rey
Lessee, Lease, Description [Line Items]
Operating leases, monthly payment				$ 47
Other Leases | Hilton Garden Inn Marina del Rey | Minimum
Lessee, Lease, Description [Line Items]
Annual supplemental rent, percentage of gross revenues				5%
Other Leases | Hilton Garden Inn Marina del Rey | Maximum
Lessee, Lease, Description [Line Items]
Annual supplemental rent, percentage of gross revenues				25%
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 | parking_space				128
Aggregate rent under operating leases				$ 32
Office Lease
Lessee, Lease, Description [Line Items]
Periods in each additional renewal term				5 years
Term of contract			11 years
Abatement term of contract			12 months
Maximum additional terms up to which ground lease can be extended (up to) | term				2
Fixed lease payments				$ 700
Hotel Ground Lease
Lessee, Lease, Description [Line Items]
Fixed lease payments				1,200
Variable lease payments				$ 900

Leases - Schedule of Right of U

Leases - Schedule of Right of Use Asset and Liability (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Finance lease assets, net	$ 42,750	$ 0
Right of use asset, net	17,547	18,141
Total ROU asset, net	60,297	18,141
Finance lease liability	285	0
Lease liability	20,349	20,808
Lease liability	$ 20,634	$ 20,808
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Investment in hotel properties, net	Investment in hotel properties, net
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Lease liability	Lease liability
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Lease liability	Lease liability

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Cost (Details)	Dec. 31, 2024
Leases [Abstract]
Weighted-average remaining lease term (years)	41 years 7 months 20 days
Weighted-average discount rate	6.88%

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
2025	$ 1,966
2026	1,768
2027	1,313
2028	1,338
2029	1,338
Thereafter	61,172
Total lease payments	68,895
Less: Imputed interest	(48,261)
Present value of lease liabilities	$ 20,634	$ 20,808

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) renewal_period	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Other Commitments [Line Items]
Litigation expense	$ 0.3
Management fees recorded within hotel other operating expenses	10.7	$ 10.6	$ 10.1
Franchise and marketing fees	$ 25.4	24.9	23.7
Minimum
Other Commitments [Line Items]
Franchise term	10 years
Maximum
Other Commitments [Line Items]
Franchise term	30 years
Related Party | Island Hospitality Management Inc.
Other Commitments [Line Items]
Management fees recorded within hotel other operating expenses	$ 0.2	$ 0.2	$ 0.2
Hotel Management Agreement
Other Commitments [Line Items]
Estimated litigation liability	$ 0.3
Hotel Management Agreement | Related Party | Island Hospitality Management Inc.
Other Commitments [Line Items]
Initial terms of management agreements	5 years
Number of renewal periods | renewal_period	2
Renewal periods of management agreements	5 years
Agreement renewal successive period termination notice (no later than)	90 days
Minimum notice period for termination of management agreement	6 months
Property management fee (in percentage)	10%
Incentive management fee cap	1%

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Terms of Management Agreements (Details)	12 Months Ended
	Dec. 31, 2024 USD ($)
Homewood Suites by Hilton Boston-Billerica/ Bedford/ Burlington
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Homewood Suites by Hilton Nashville-Brentwood
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Homewood Suites by Hilton Hartford-Farmington
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Hampton Inn & Suites Houston-Medical Center
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Residence Inn Long Island Holtsville
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Residence Inn White Plains
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Residence Inn New Rochelle
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Residence Inn Garden Grove
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Homewood Suites by Hilton San Antonio River Walk
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Residence Inn Washington DC
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Residence Inn Tysons Corner
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Hampton Inn Portland Downtown
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Courtyard Houston
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Hyatt Place Pittsburgh North Shore
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Hampton Inn Exeter
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Residence Inn Bellevue
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
SpringHill Suites Savannah
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Residence Inn Silicon Valley I
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Residence Inn Silicon Valley II
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Residence Inn San Mateo
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Residence Inn Mountain View
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Hyatt Place Cherry Creek
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Courtyard Addison
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Residence Inn San Diego Gaslamp
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Hilton Garden Inn Marina del Rey
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Residence Inn Dedham
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Residence Inn Il Lugano
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Hilton Garden Inn Portsmouth
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Courtyard Summerville
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Embassy Suites Springfield
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Residence Inn Summerville
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Courtyard Dallas
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Residence Inn Austin Northwest/The Domain Area
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
TownePlace Suites Austin Northwest/The Domain Area
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Home2 Suites Woodland Hills
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Hilton Garden Inn Destin Miramar Beach
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%
Home2 Suites Phoenix Downtown
Real Estate Properties [Line Items]
Base Management Fee	3%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1%

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Terms of Franchise Agreements (Details)	12 Months Ended
	Dec. 31, 2024
Homewood Suites by Hilton Boston-Billerica/ Bedford/ Burlington
Real Estate Properties [Line Items]
Franchise/Royalty Fee	4%
Marketing/Program Fee	4%
Homewood Suites by Hilton Nashville-Brentwood
Real Estate Properties [Line Items]
Franchise/Royalty Fee	4%
Marketing/Program Fee	4%
Homewood Suites by Hilton Hartford-Farmington
Real Estate Properties [Line Items]
Franchise/Royalty Fee	4%
Marketing/Program Fee	4%
Hampton Inn & Suites Houston-Medical Center
Real Estate Properties [Line Items]
Franchise/Royalty Fee	6%
Marketing/Program Fee	4%
Residence Inn Long Island Holtsville
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2.50%
Residence Inn White Plains
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2.50%
Residence Inn New Rochelle
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2.50%
Residence Inn Garden Grove
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5%
Marketing/Program Fee	2.50%
Homewood Suites by Hilton San Antonio River Walk
Real Estate Properties [Line Items]
Franchise/Royalty Fee	4%
Marketing/Program Fee	4%
Residence Inn Washington DC
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2.50%
Residence Inn Tysons Corner
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5%
Marketing/Program Fee	2.50%
Hampton Inn Portland Downtown
Real Estate Properties [Line Items]
Franchise/Royalty Fee	6%
Marketing/Program Fee	4%
Courtyard Houston
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2%
Hyatt Place Pittsburgh North Shore
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5%
Marketing/Program Fee	3.50%
Hampton Inn Exeter
Real Estate Properties [Line Items]
Franchise/Royalty Fee	6%
Marketing/Program Fee	4%
Residence Inn Bellevue
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2.50%
SpringHill Suites Savannah
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5%
Marketing/Program Fee	2.50%
Residence Inn Silicon Valley I
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2.50%
Residence Inn Silicon Valley II
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2.50%
Residence Inn San Mateo
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2.50%
Residence Inn Mountain View
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2.50%
Hyatt Place Cherry Creek
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5%
Marketing/Program Fee	3.50%
Courtyard Addison
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2%
Residence Inn San Diego Gaslamp
Real Estate Properties [Line Items]
Franchise/Royalty Fee	6%
Marketing/Program Fee	2.50%
Hilton Garden Inn Marina del Rey
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	4.30%
Residence Inn Dedham
Real Estate Properties [Line Items]
Franchise/Royalty Fee	6%
Marketing/Program Fee	2.50%
Residence Inn Il Lugano
Real Estate Properties [Line Items]
Franchise/Royalty Fee	6%
Marketing/Program Fee	2.50%
Hilton Garden Inn Portsmouth
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	4%
Courtyard Summerville
Real Estate Properties [Line Items]
Franchise/Royalty Fee	6%
Marketing/Program Fee	2.50%
Embassy Suites Springfield
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	4%
Residence Inn Summerville
Real Estate Properties [Line Items]
Franchise/Royalty Fee	6%
Marketing/Program Fee	2.50%
Courtyard Dallas
Real Estate Properties [Line Items]
Franchise/Royalty Fee	6%
Marketing/Program Fee	2%
Residence Inn Austin Northwest/The Domain Area
Real Estate Properties [Line Items]
Franchise/Royalty Fee	6%
Marketing/Program Fee	2.50%
TownePlace Suites Austin Northwest/The Domain Area
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2%
Home2 Suites Woodland Hills
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5%
Marketing/Program Fee	3%
Hilton Garden Inn Destin Miramar Beach
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	4%
Home2 Suites Phoenix Downtown
Real Estate Properties [Line Items]
Marketing/Program Fee	3.50%
Home2 Suites Phoenix Downtown | Minimum
Real Estate Properties [Line Items]
Franchise/Royalty Fee	3%
Home2 Suites Phoenix Downtown | Maximum
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5%

Related Party Transactions (Det

Related Party Transactions (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) hotel	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Related Party Transaction [Line Items]
Management fees recorded within hotel other operating expenses	$ 10.7	$ 10.6	$ 10.1
Island Hospitality Management Inc. | Related Party
Related Party Transaction [Line Items]
Ownership percentage in related party owned by the company's chairman	100%
Number of hotels managed by related party | hotel	37
Other liabilities	$ 0.5	0.4
Management fees recorded within hotel other operating expenses	0.2	0.2	0.2
Island Hospitality Management Inc. | Management Fees | Related Party
Related Party Transaction [Line Items]
Management and accounting fees paid by the company	$ 10.7	$ 10.6	$ 10.1

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting, Revenue Reconciling Item [Line Items]
Number of reportable segments | segment	1
Total revenue	$ 317,209	$ 311,109	$ 294,851
Total hotel operating expenses	181,176	175,386	160,758
Property taxes, ground rent and insurance	23,709	23,507	21,210
Interest expense, including amortization of deferred fees	(30,880)	(27,128)	(26,454)
Depreciation and amortization	60,741	58,254	59,350
General and administrative	18,388	17,517	17,339
Other charges	327	2,300	683
Impairment loss	4,256	4,266	0
Loss on early extinguishment of debt	(17)	(696)	(138)
Interest and other income	1,712	1,534	10
Gain on sale of hotel properties	5,713	18	2,268
Gain from partial lease termination	0	164	0
Net income	4,035	2,488	9,871
Reimbursable costs from related parties	1,105	1,283	1,326
Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue	316,104	309,826	293,526
Interest expense, including amortization of deferred fees	(30,880)	(27,128)	(26,454)
Depreciation and amortization	(60,741)	(58,254)	(59,350)
General and administrative	(18,388)	(17,517)	(17,339)
Other charges	(327)	(2,300)	(683)
Impairment loss	(4,256)	(4,266)	0
Loss on early extinguishment of debt	(17)	(696)	(138)
Interest and other income	1,712	1,534	10
Gain on sale of hotel properties	5,713	18	2,268
Gain from partial lease termination	0	164	0
Net income	4,035	2,488	9,871
Operating Segments | Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Adjusted Hotel EBITDA	111,219	110,933	111,557
Hotel | Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total hotel operating expenses	204,885	198,893	181,969
Room
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue	290,290	284,999	272,265
Total hotel operating expenses	65,311	61,794	56,073
Room | Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue	290,290	284,999	272,265
Total hotel operating expenses	65,311	61,794	56,073
Food and beverage
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue	7,737	8,124	7,303
Total hotel operating expenses	6,218	6,352	5,520
Food and beverage | Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue	7,737	8,124	7,303
Total hotel operating expenses	6,218	6,352	5,520
Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue	18,077	16,703	13,958
Other | Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue	18,077	16,703	13,958
Telephone
Segment Reporting, Revenue Reconciling Item [Line Items]
Total hotel operating expenses	1,360	1,439	1,449
Telephone | Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total hotel operating expenses	1,360	1,439	1,449
Other hotel operating
Segment Reporting, Revenue Reconciling Item [Line Items]
Total hotel operating expenses	4,127	3,712	3,488
Other hotel operating | Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total hotel operating expenses	4,127	3,712	3,488
General and administrative
Segment Reporting, Revenue Reconciling Item [Line Items]
Total hotel operating expenses	28,826	28,884	26,085
General and administrative | Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total hotel operating expenses	28,826	28,884	26,086
Franchise and marketing fees
Segment Reporting, Revenue Reconciling Item [Line Items]
Total hotel operating expenses	25,355	24,897	23,674
Franchise and marketing fees | Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total hotel operating expenses	25,355	24,897	23,674
Advertising and promotions
Segment Reporting, Revenue Reconciling Item [Line Items]
Total hotel operating expenses	6,229	6,085	5,397
Advertising and promotions | Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total hotel operating expenses	6,229	6,085	5,397
Utilities
Segment Reporting, Revenue Reconciling Item [Line Items]
Total hotel operating expenses	13,161	13,007	12,048
Utilities | Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total hotel operating expenses	13,161	13,007	12,048
Repairs and maintenance
Segment Reporting, Revenue Reconciling Item [Line Items]
Total hotel operating expenses	16,516	15,837	14,145
Repairs and maintenance | Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total hotel operating expenses	16,516	15,837	14,145
Management fees paid to related parties | Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total hotel operating expenses	10,733	10,557	10,133
Management fees paid to related parties | Related Party
Segment Reporting, Revenue Reconciling Item [Line Items]
Total hotel operating expenses	10,733	10,557	10,133
Insurance
Segment Reporting, Revenue Reconciling Item [Line Items]
Total hotel operating expenses	3,340	2,822	2,746
Insurance | Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total hotel operating expenses	3,340	2,822	2,746
Property taxes, ground rent and insurance | Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Property taxes, ground rent and insurance	$ 23,709	$ 23,507	$ 21,210

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event - USD ($) $ in Thousands	Jan. 06, 2025	Jan. 30, 2025
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Homewood Suites Nashville-Brentwood hotel Property
Subsequent Event [Line Items]
Amount sold in disposition of property		$ 15,000
Hampton Inn & Suites Houston-Medical Center
Subsequent Event [Line Items]
Repayments of debt	$ 16,000

SCHEDULE III - REAL ESTATE AN_2

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land	$ 279,579
Initial Cost, Buildings & Improvements	1,042,803
Cost Cap. Sub. To Acq. Land	836
Cost Cap. Sub. To Acq. Bldg & Improvements	189,394
Gross Amount at End of Year, Land	280,415
Gross Amount at End of Year, Buildings & Improvements	1,232,197
Gross Amount at End of Year, Total	1,512,612	$ 1,564,433	$ 1,556,453	$ 1,557,060
Accumulated Depreciation	401,532	$ 376,323	$ 328,832	$ 300,731
Homewood Suites Boston - Billerica, MA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	1,470
Initial Cost, Buildings & Improvements	10,555
Cost Cap. Sub. To Acq. Land	48
Cost Cap. Sub. To Acq. Bldg & Improvements	4,496
Gross Amount at End of Year, Land	1,518
Gross Amount at End of Year, Buildings & Improvements	15,051
Gross Amount at End of Year, Total	16,569
Accumulated Depreciation	6,218
Homewood Suites Nashville - Brentwood, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	1,525
Initial Cost, Buildings & Improvements	9,300
Cost Cap. Sub. To Acq. Land	12
Cost Cap. Sub. To Acq. Bldg & Improvements	4,307
Gross Amount at End of Year, Land	1,537
Gross Amount at End of Year, Buildings & Improvements	13,607
Gross Amount at End of Year, Total	15,144
Accumulated Depreciation	5,959
Homewood Suites Hartford - Farmington, CT
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	1,325
Initial Cost, Buildings & Improvements	9,375
Cost Cap. Sub. To Acq. Land	92
Cost Cap. Sub. To Acq. Bldg & Improvements	4,341
Gross Amount at End of Year, Land	1,417
Gross Amount at End of Year, Buildings & Improvements	13,716
Gross Amount at End of Year, Total	15,133
Accumulated Depreciation	5,607
Hampton Inn & Suites Houston - Houston, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	15,957
Initial Cost, Land	3,200
Initial Cost, Buildings & Improvements	12,709
Cost Cap. Sub. To Acq. Land	66
Cost Cap. Sub. To Acq. Bldg & Improvements	3,485
Gross Amount at End of Year, Land	3,266
Gross Amount at End of Year, Buildings & Improvements	16,194
Gross Amount at End of Year, Total	19,460
Accumulated Depreciation	6,118
Residence Inn Holtsville - Holtsville, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	2,200
Initial Cost, Buildings & Improvements	18,765
Cost Cap. Sub. To Acq. Land	19
Cost Cap. Sub. To Acq. Bldg & Improvements	3,391
Gross Amount at End of Year, Land	2,219
Gross Amount at End of Year, Buildings & Improvements	22,156
Gross Amount at End of Year, Total	24,375
Accumulated Depreciation	8,074
Residence Inn White Plains - White Plains, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	2,200
Initial Cost, Buildings & Improvements	17,677
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	13,144
Gross Amount at End of Year, Land	2,200
Gross Amount at End of Year, Buildings & Improvements	30,821
Gross Amount at End of Year, Total	33,021
Accumulated Depreciation	12,601
Residence Inn New Rochelle - New Rochelle, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	0
Initial Cost, Buildings & Improvements	20,281
Cost Cap. Sub. To Acq. Land	9
Cost Cap. Sub. To Acq. Bldg & Improvements	6,203
Gross Amount at End of Year, Land	9
Gross Amount at End of Year, Buildings & Improvements	26,484
Gross Amount at End of Year, Total	26,493
Accumulated Depreciation	9,803
Residence Inn Garden Grove - Garden Grove, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	7,109
Initial Cost, Buildings & Improvements	35,484
Cost Cap. Sub. To Acq. Land	57
Cost Cap. Sub. To Acq. Bldg & Improvements	5,058
Gross Amount at End of Year, Land	7,166
Gross Amount at End of Year, Buildings & Improvements	40,542
Gross Amount at End of Year, Total	47,708
Accumulated Depreciation	14,060
Homewood Suites San Antonio - San Antonio, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	5,999
Initial Cost, Buildings & Improvements	24,764
Cost Cap. Sub. To Acq. Land	7
Cost Cap. Sub. To Acq. Bldg & Improvements	10,534
Gross Amount at End of Year, Land	6,006
Gross Amount at End of Year, Buildings & Improvements	35,298
Gross Amount at End of Year, Total	41,304
Accumulated Depreciation	12,422
Residence Inn Washington DC - Washington, DC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	6,083
Initial Cost, Buildings & Improvements	22,063
Cost Cap. Sub. To Acq. Land	44
Cost Cap. Sub. To Acq. Bldg & Improvements	10,148
Gross Amount at End of Year, Land	6,127
Gross Amount at End of Year, Buildings & Improvements	32,211
Gross Amount at End of Year, Total	38,338
Accumulated Depreciation	12,231
Residence Inn Tyson's Corner - Vienna, VA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	5,752
Initial Cost, Buildings & Improvements	28,917
Cost Cap. Sub. To Acq. Land	6
Cost Cap. Sub. To Acq. Bldg & Improvements	3,061
Gross Amount at End of Year, Land	5,758
Gross Amount at End of Year, Buildings & Improvements	31,978
Gross Amount at End of Year, Total	37,736
Accumulated Depreciation	11,131
Hampton Inn Portland Downtown - Portland, ME
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	4,315
Initial Cost, Buildings & Improvements	22,664
Cost Cap. Sub. To Acq. Land	(1)
Cost Cap. Sub. To Acq. Bldg & Improvements	1,461
Gross Amount at End of Year, Land	4,314
Gross Amount at End of Year, Buildings & Improvements	24,125
Gross Amount at End of Year, Total	28,439
Accumulated Depreciation	7,240
Courtyard Houston - Houston, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	5,600
Initial Cost, Buildings & Improvements	27,350
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	(373)
Gross Amount at End of Year, Land	5,600
Gross Amount at End of Year, Buildings & Improvements	26,977
Gross Amount at End of Year, Total	32,577
Accumulated Depreciation	9,657
Hyatt Place Pittsburgh - Pittsburgh, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	23,300
Initial Cost, Land	3,000
Initial Cost, Buildings & Improvements	35,576
Cost Cap. Sub. To Acq. Land	15
Cost Cap. Sub. To Acq. Bldg & Improvements	1,883
Gross Amount at End of Year, Land	3,015
Gross Amount at End of Year, Buildings & Improvements	37,459
Gross Amount at End of Year, Total	40,474
Accumulated Depreciation	11,095
Hampton Inn & Suites Exeter - Exeter, NH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	15,000
Initial Cost, Land	1,900
Initial Cost, Buildings & Improvements	12,350
Cost Cap. Sub. To Acq. Land	4
Cost Cap. Sub. To Acq. Bldg & Improvements	1,185
Gross Amount at End of Year, Land	1,904
Gross Amount at End of Year, Buildings & Improvements	13,535
Gross Amount at End of Year, Total	15,439
Accumulated Depreciation	3,876
Residence Inn Bellevue - Bellevue, WA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	13,800
Initial Cost, Buildings & Improvements	56,957
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	2,902
Gross Amount at End of Year, Land	13,800
Gross Amount at End of Year, Buildings & Improvements	59,859
Gross Amount at End of Year, Total	73,659
Accumulated Depreciation	17,380
SpringHill Suites Savannah - Savannah, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	22,000
Initial Cost, Land	2,400
Initial Cost, Buildings & Improvements	36,050
Cost Cap. Sub. To Acq. Land	1
Cost Cap. Sub. To Acq. Bldg & Improvements	2,083
Gross Amount at End of Year, Land	2,401
Gross Amount at End of Year, Buildings & Improvements	38,133
Gross Amount at End of Year, Total	40,534
Accumulated Depreciation	11,164
Residence Inn Silicon Valley I - Sunnyvale, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	42,652
Initial Cost, Buildings & Improvements	45,846
Cost Cap. Sub. To Acq. Land	33
Cost Cap. Sub. To Acq. Bldg & Improvements	6,498
Gross Amount at End of Year, Land	42,685
Gross Amount at End of Year, Buildings & Improvements	52,344
Gross Amount at End of Year, Total	95,029
Accumulated Depreciation	35,079
Residence Inn Silicon Valley II - Sunnyvale, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	46,474
Initial Cost, Buildings & Improvements	50,380
Cost Cap. Sub. To Acq. Land	56
Cost Cap. Sub. To Acq. Bldg & Improvements	7,934
Gross Amount at End of Year, Land	46,530
Gross Amount at End of Year, Buildings & Improvements	58,314
Gross Amount at End of Year, Total	104,844
Accumulated Depreciation	38,576
Residence Inn San Mateo - San Mateo, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	38,420
Initial Cost, Buildings & Improvements	31,352
Cost Cap. Sub. To Acq. Land	123
Cost Cap. Sub. To Acq. Bldg & Improvements	5,707
Gross Amount at End of Year, Land	38,543
Gross Amount at End of Year, Buildings & Improvements	37,059
Gross Amount at End of Year, Total	75,602
Accumulated Depreciation	24,340
Residence Inn Mt. View - Mountain View, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	22,019
Initial Cost, Buildings & Improvements	31,813
Cost Cap. Sub. To Acq. Land	29
Cost Cap. Sub. To Acq. Bldg & Improvements	10,488
Gross Amount at End of Year, Land	22,048
Gross Amount at End of Year, Buildings & Improvements	42,301
Gross Amount at End of Year, Total	64,349
Accumulated Depreciation	27,911
Hyatt Place Cherry Creek - Cherry Creek, CO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	3,700
Initial Cost, Buildings & Improvements	26,300
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	4,695
Gross Amount at End of Year, Land	3,700
Gross Amount at End of Year, Buildings & Improvements	30,995
Gross Amount at End of Year, Total	34,695
Accumulated Depreciation	8,018
Courtyard Addison - Dallas, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	2,413
Initial Cost, Buildings & Improvements	21,554
Cost Cap. Sub. To Acq. Land	23
Cost Cap. Sub. To Acq. Bldg & Improvements	3,889
Gross Amount at End of Year, Land	2,436
Gross Amount at End of Year, Buildings & Improvements	25,443
Gross Amount at End of Year, Total	27,879
Accumulated Depreciation	7,021
Residence Inn Gaslamp - San Diego, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	0
Initial Cost, Buildings & Improvements	89,040
Cost Cap. Sub. To Acq. Land	10
Cost Cap. Sub. To Acq. Bldg & Improvements	2,174
Gross Amount at End of Year, Land	10
Gross Amount at End of Year, Buildings & Improvements	91,214
Gross Amount at End of Year, Total	91,224
Accumulated Depreciation	23,121
Hilton Garden Inn - Marina del Rey, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	0
Initial Cost, Buildings & Improvements	43,210
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	2,858
Gross Amount at End of Year, Land	0
Gross Amount at End of Year, Buildings & Improvements	46,068
Gross Amount at End of Year, Total	46,068
Accumulated Depreciation	10,715
Residence Inn - Dedham, MA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	4,230
Initial Cost, Buildings & Improvements	17,304
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	2,614
Gross Amount at End of Year, Land	4,230
Gross Amount at End of Year, Buildings & Improvements	19,918
Gross Amount at End of Year, Total	24,148
Accumulated Depreciation	5,025
Residence Inn - Ft. Lauderdale, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	9,200
Initial Cost, Buildings & Improvements	24,048
Cost Cap. Sub. To Acq. Land	14
Cost Cap. Sub. To Acq. Bldg & Improvements	2,820
Gross Amount at End of Year, Land	9,214
Gross Amount at End of Year, Buildings & Improvements	26,868
Gross Amount at End of Year, Total	36,082
Accumulated Depreciation	6,633
Home2 Suites - Woodland Hills, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	6,500
Initial Cost, Buildings & Improvements	0
Cost Cap. Sub. To Acq. Land	128
Cost Cap. Sub. To Acq. Bldg & Improvements	56,679
Gross Amount at End of Year, Land	6,628
Gross Amount at End of Year, Buildings & Improvements	56,679
Gross Amount at End of Year, Total	63,307
Accumulated Depreciation	12,891
Hilton Garden Inn - Portsmouth, NH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	3,600
Initial Cost, Buildings & Improvements	37,630
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	954
Gross Amount at End of Year, Land	3,600
Gross Amount at End of Year, Buildings & Improvements	38,584
Gross Amount at End of Year, Total	42,184
Accumulated Depreciation	7,091
Courtyard Summerville, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	9,000
Initial Cost, Land	2,500
Initial Cost, Buildings & Improvements	16,923
Cost Cap. Sub. To Acq. Land	7
Cost Cap. Sub. To Acq. Bldg & Improvements	1,166
Gross Amount at End of Year, Land	2,507
Gross Amount at End of Year, Buildings & Improvements	18,089
Gross Amount at End of Year, Total	20,596
Accumulated Depreciation	3,226
Embassy Suites Springfield, VA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	7,700
Initial Cost, Buildings & Improvements	58,807
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	2,563
Gross Amount at End of Year, Land	7,700
Gross Amount at End of Year, Buildings & Improvements	61,370
Gross Amount at End of Year, Total	69,070
Accumulated Depreciation	10,681
Residence Inn - Summerville, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	9,500
Initial Cost, Land	2,300
Initial Cost, Buildings & Improvements	17,060
Cost Cap. Sub. To Acq. Land	11
Cost Cap. Sub. To Acq. Bldg & Improvements	310
Gross Amount at End of Year, Land	2,311
Gross Amount at End of Year, Buildings & Improvements	17,370
Gross Amount at End of Year, Total	19,681
Accumulated Depreciation	2,824
Courtyard Dallas Downtown - Dallas, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	24,500
Initial Cost, Land	2,900
Initial Cost, Buildings & Improvements	42,760
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	214
Gross Amount at End of Year, Land	2,900
Gross Amount at End of Year, Buildings & Improvements	42,974
Gross Amount at End of Year, Total	45,874
Accumulated Depreciation	6,532
Silicon Valley III - Sunnyvale, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	8,171
Initial Cost, Buildings & Improvements	0
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	0
Gross Amount at End of Year, Land	8,171
Gross Amount at End of Year, Buildings & Improvements	0
Gross Amount at End of Year, Total	8,171
Accumulated Depreciation	0
Residence Inn Austin Northwest/The Domain Area - Austin, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	20,850
Initial Cost, Land	2,400
Initial Cost, Buildings & Improvements	33,346
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	251
Gross Amount at End of Year, Land	2,400
Gross Amount at End of Year, Buildings & Improvements	33,597
Gross Amount at End of Year, Total	35,997
Accumulated Depreciation	2,886
TownePlace Suites Austin Northwest/The Domain Area - Austin, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	19,075
Initial Cost, Land	2,300
Initial Cost, Buildings & Improvements	29,347
Cost Cap. Sub. To Acq. Land	5
Cost Cap. Sub. To Acq. Bldg & Improvements	97
Gross Amount at End of Year, Land	2,305
Gross Amount at End of Year, Buildings & Improvements	29,444
Gross Amount at End of Year, Total	31,749
Accumulated Depreciation	2,515
Hilton Garden Inn Destin - Miramar Beach, FL [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	4,222
Initial Cost, Buildings & Improvements	25,246
Cost Cap. Sub. To Acq. Land	18
Cost Cap. Sub. To Acq. Bldg & Improvements	174
Gross Amount at End of Year, Land	4,240
Gross Amount at End of Year, Buildings & Improvements	25,420
Gross Amount at End of Year, Total	29,660
Accumulated Depreciation	$ 1,811

SCHEDULE III - REAL ESTATE AN_3

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Depreciable Lives (Details)	Dec. 31, 2024
Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Depreciation Life	40 years
Land Improvements
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Depreciation Life	20 years
Minimum | Building Improvements
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Depreciation Life	5 years
Maximum | Building Improvements
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Depreciation Life	20 years

SCHEDULE III - REAL ESTATE AN_4

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Change in Total Cost of Real Estate Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at the beginning of the year	$ 1,564,433	$ 1,556,453	$ 1,557,060
Acquisitions	0	0	29,468
Dispositions	(62,647)	0	(95,385)
Impairment of depreciable assets	(4,256)	(4,266)	0
Improvements	15,082	12,246	65,310
Balance at the end of the year	1,512,612	1,564,433	1,556,453
Finance lease assets at the end of the year	40,240	0	0
Total investment in real estate	$ 1,552,852	$ 1,564,433	$ 1,556,453

SCHEDULE III - REAL ESTATE AN_5

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Change in Accumulated Depreciation and Amortization of Real Estate Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at the beginning of the year	$ 376,323	$ 328,832	$ 300,731
Depreciation expense	46,588	47,491	46,558
Accumulated depreciation on dispositions	(21,379)	0	(18,457)
Accumulated depreciation at the end of the year	401,532	376,323	328,832
Accumulated amortization of finance leases at the end of the year	596	0	0
Total accumulated depreciation and amortization	$ 402,128	$ 376,323	$ 328,832

SCHEDULE III - REAL ESTATE AN_6

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Aggregate Cost of Properties for Federal Income Tax Purposes - Additional Information (Details) $ in Thousands	Dec. 31, 2024 USD ($)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Aggregate cost of properties for federal income tax purposes	$ 1,553,093