2020 Q4 Form 10-K Financial Statement

#000149764521000002 Filed on February 26, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2019 Q4 2019 Q3
Revenue $48.23M $133.8M $133.7M
YoY Change -63.95% 0.96% -6.08%
Cost Of Revenue $35.30M $76.20M $75.00M
YoY Change -53.67% 2.42% -6.48%
Gross Profit $12.90M $57.60M $58.70M
YoY Change -77.6% -0.86% -5.63%
Gross Profit Margin 26.75% 43.06% 43.91%
Selling, General & Admin $16.90M $17.60M $16.20M
YoY Change -3.98% 13.55% 7.28%
% of Gross Profit 131.01% 30.56% 27.6%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $27.50M $26.90M $23.20M
YoY Change 2.23% 3.86% -6.83%
% of Gross Profit 213.18% 46.7% 39.52%
Operating Expenses $46.60M $44.60M $39.40M
YoY Change 4.48% 7.73% -1.5%
Operating Profit -$33.70M $13.00M $19.24M
YoY Change -359.23% -22.16% -59.05%
Interest Expense -$10.60M -$11.00M $9.450M
YoY Change -3.64% -3.51% -12.89%
% of Operating Profit -84.62% 49.11%
Other Income/Expense, Net $600.0K $2.200M -$7.642M
YoY Change -72.73% 57.14% -19.74%
Pretax Income -$44.90M $9.200M $11.60M
YoY Change -588.04% 84.0% -69.04%
Income Tax -$200.0K $500.0K -$24.00K
% Of Pretax Income 5.43% -0.21%
Net Earnings -$43.05M $9.242M $11.53M
YoY Change -565.85% 60.56% -69.57%
Net Earnings / Revenue -89.27% 6.91% 8.63%
Basic Earnings Per Share -$0.45
Diluted Earnings Per Share -$0.45 $88.46K $110.6K
COMMON SHARES
Basic Shares Outstanding 105.7M shares 105.2M shares 103.9M shares
Diluted Shares Outstanding 104.0M shares

Balance Sheet

Concept 2020 Q4 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.70M $42.20M $48.10M
YoY Change -50.95% -4.31% -20.5%
Cash & Equivalents $20.72M $42.24M $48.09M
Short-Term Investments
Other Short-Term Assets $9.800M $8.800M $10.50M
YoY Change 11.36% -12.87% 66.67%
Inventory
Prepaid Expenses
Receivables $11.80M $13.30M $18.50M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $42.30M $64.30M $77.10M
YoY Change -34.21% -5.72% -15.09%
LONG-TERM ASSETS
Property, Plant & Equipment $2.134B $2.214B $1.978B
YoY Change -3.6% 7.19% -5.02%
Goodwill
YoY Change
Intangibles $10.92M $11.01M
YoY Change -0.78% -47.48%
Long-Term Investments $23.70M $30.90M $31.00M
YoY Change -23.3% 0.65% 5.44%
Other Assets $23.00M $32.70M $49.30M
YoY Change -29.66% -19.85% 31.12%
Total Long-Term Assets $2.191B $2.291B $2.072B
YoY Change -4.39% 6.37% -4.6%
TOTAL ASSETS
Total Short-Term Assets $42.30M $64.30M $77.10M
Total Long-Term Assets $2.191B $2.291B $2.072B
Total Assets $2.233B $2.356B $2.149B
YoY Change -5.21% 6.0% -5.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.700M $4.800M $5.300M
YoY Change -43.75% -11.11% 1.92%
Accrued Expenses $83.50M $91.40M $103.5M
YoY Change -8.64% 38.28% 44.96%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.900M $3.700M $3.700M
YoY Change 5.41%
Total Short-Term Liabilities $90.10M $99.90M $112.5M
YoY Change -9.81% 39.72% 46.87%
LONG-TERM LIABILITIES
Long-Term Debt $1.091B $1.012B $839.8M
YoY Change 7.74% 5.6% -13.34%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.091B $1.012B $839.8M
YoY Change 7.74% 5.6% -13.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $90.10M $99.90M $112.5M
Total Long-Term Liabilities $1.091B $1.012B $839.8M
Total Liabilities $1.181B $1.112B $952.3M
YoY Change 6.17% 7.97% -8.93%
SHAREHOLDERS EQUITY
Retained Earnings -$179.0M -$2.283M $11.10M
YoY Change 7741.13% -147.19% -48.71%
Common Stock $1.057M $1.052M $1.052M
YoY Change 0.48% 0.38% 0.48%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $988.7M $1.174B $1.181B
YoY Change
Total Liabilities & Shareholders Equity $2.233B $2.356B $2.149B
YoY Change -5.21% 6.0% -5.02%

Cashflow Statement

Concept 2020 Q4 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income -$43.05M $9.242M $11.53M
YoY Change -565.85% 60.56% -69.57%
Depreciation, Depletion And Amortization $27.50M $26.90M $23.20M
YoY Change 2.23% 3.86% -6.83%
Cash From Operating Activities -$20.70M $28.90M $44.30M
YoY Change -171.63% -11.62% -0.67%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$250.3M -$28.10M
YoY Change -100.0% -60.42%
Acquisitions
YoY Change
Other Investing Activities -$3.300M $11.30M -$21.50M
YoY Change -129.2% -160.43% -151.68%
Cash From Investing Activities -$3.300M -$239.0M -$49.60M
YoY Change -98.62% 1178.07% 68.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.300M 204.1M 5.300M
YoY Change -96.91% -709.25% -220.45%
NET CHANGE
Cash From Operating Activities -20.70M 28.90M 44.30M
Cash From Investing Activities -3.300M -239.0M -49.60M
Cash From Financing Activities 6.300M 204.1M 5.300M
Net Change In Cash -17.70M -6.000M 0.000000003725
YoY Change 195.0% -69.23% -100.0%
FREE CASH FLOW
Cash From Operating Activities -$20.70M $28.90M $44.30M
Capital Expenditures $0.00 -$250.3M -$28.10M
Free Cash Flow -$20.70M $279.2M $72.40M
YoY Change -107.41% 753.82% -37.37%

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DESCRIPTION OF BUSINESS<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">General</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Summit Hotel Properties, Inc. (the “Company”) is a self-managed hotel investment company that was organized on June 30, 2010 as a Maryland corporation. The Company holds both general and limited partnership interests in Summit Hotel OP, LP (the “Operating Partnership”), a Delaware limited partnership also organized on June 30, 2010. Unless the context otherwise requires, “we”, “us”, and “our” refer to the Company and its consolidated subsidiaries.</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We focus on owning premium-branded hotels with efficient operating models primarily in the Upscale segment of the lodging industry. At December 31, 2020, our portfolio consisted of 72 hotels with a total of 11,288 guestrooms located in 23 states. At December 31, 2020, we own 100% of the outstanding equity interests in 67 of 72 of our hotels. We own a 51% controlling interest in five hotels that we acquired in 2019 through a joint venture. We have elected to be taxed as a real estate investment trust (“REIT”) for federal income tax purposes. To qualify as a REIT, we cannot operate or manage our hotels. Accordingly, all of our hotels are leased to our taxable REIT subsidiaries (“TRS Lessees”). </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Risks and Uncertainties</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is subject to risks and uncertainties as a result of the effects of the novel coronavirus, designated as COVID-19 (“COVID-19”). The COVID-19 pandemic has had and will continue to have a material adverse effect on our operations. The Company first began to experience effects from COVID-19 in March 2020, when the World Health Organization (“WHO”) declared a public health emergency of international concern related to COVID-19. By March 31, 2020, stay-at-home directives had been issued in many states across the United States and many local jurisdictions had additionally required the temporary closure of businesses deemed to be non-essential. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These actions and restrictions have had a significant negative effect on the U.S. and global economies, including a rapid and sharp decline in all forms of travel, both domestic and international, and a significant decline in hotel demand. These conditions have resulted in a substantial decline in our revenues, profitability and cash flows from operations during the twelve months ended December 31, 2020 and are expected to continue to materially adversely affect our operations and financial results until an effective vaccine is broadly distributed, government restrictions are lifted, consumer confidence is restored and a recovery in hospitality and travel-related demand occurs. The COVID-19 pandemic has also led to a disruption and volatility of the capital markets for the hospitality and travel-related industries, which could increase our cost of and limit accessibility to capital. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The COVID-19 pandemic caused the Company to temporarily suspend operations at six hotels containing 934 guestrooms in March 2020. An additional nine hotels, containing 1,278 guestrooms, each of which is adjacent to another of our hotels ("Sister Properties"), continued to accept reservations, but guests were directed to Sister Properties. In May of 2020, five hotels containing 682 guestrooms and four hotel properties adjacent to Sister Properties containing 506 guestrooms were re-opened. During the second half of 2020, three hotel properties adjacent to Sister Properties containing 430 guestrooms were re-opened. As of December 31, 2020, only one hotel with 252 guestrooms still has suspended operations and guests at two other hotels containing 342 guestrooms are being directed to Sister Properties. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The duration and severity of the effects of the COVID-19 pandemic are highly uncertain and difficult to predict. As such, the Company has taken several actions to mitigate the effects of the COVID-19 pandemic on the Company, including the following:</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.8pt">Further amended loan agreements of our 2018 Senior Credit Facility, 2017 Term Loan and 2018 Term Loan (each defined below) to provide for financial covenant waivers through March 31, 2022, to obtain certain modifications to financial covenant measures through December 31, 2023 and to access the full borrowing capacity under our $400 million revolving credit facility ("$400 Million Revolver") subject to certain conditions. We have no debt maturing before November 2022.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:107%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:107%;padding-left:13.8pt">Completed the offering of $287.5 million of Convertible Notes (as defined in "Part II – Item 8. – </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:107%">Financial Statements and Supplementary Data – Note 6 – Debt</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:107%">") in January 2021 and used a portion of the proceeds to repay the outstanding borrowings under our $400 Million Revolver and to partially repay outstanding balances under our term </span></div><div style="padding-left:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:107%">loan obligations. These transactions ensured the availability of sufficient capacity under the $400 Million Revolver to provide adequate liquidity should we experience a continued disruption in lodging demand.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Amended our joint venture credit agreement to provide for a financial covenant waiver through March 31, 2021, to modify certain financial covenant measures through June 30, 2022, and to access additional availability to fund operating expense deficits and various capital expenditures.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Suspended the declaration and payment of dividends on our common stock and operating partnership units beginning in the first quarter of 2020. This conserves an additional $19.0 million of cash quarterly, or $75.0 million on an annualized basis.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Postponed all non-essential capital improvement projects planned for 2020 beyond those already substantially complete and expect to continue to postpone all non-essential capital improvement projects for the foreseeable future.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Adopted comprehensive cost reduction initiatives, including the reduction of labor and temporary elimination of certain services and amenities, at all hotels. Certain labor costs and services or amenities have been added back on a limited basis as improvements in occupancy levels have supported. As described above, we temporarily suspended operations at certain hotels in response to specific government mandates or as the result of adverse market conditions.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Negotiated the temporary suspension of FF&amp;E reserve funding requirements for certain of our hotels and facilitated the interim or permanent use of cash deposited in our restricted cash reserve for replacement of furniture, fixtures and equipment ("FF&amp;E Reserve Accounts") of certain of our hotels for general working capital purposes.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Implemented a voluntary 25% temporary reduction of base salaries and fees, respectively, for executive officers and independent members of the Board of Directors for a portion of 2020.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Furloughed approximately 25% of the corporate-level staff in April 2020. Certain of the furloughed staff were reinstated during 2020 to meet specific needs of the Company as supported by our operating performance, but the majority of the furloughed positions were permanently eliminated during the third quarter.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Implemented temporary salary reductions for the majority of our remaining non-executive employees for a portion of 2020.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Implemented a temporary hiring freeze for any new corporate-level positions.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">It is currently extremely difficult to predict the length of time it will take for us to return to pre-pandemic operational and financial performance. Despite the uncertainty, based on the actions we have taken, we believe we have sufficient cash and access to liquidity to meet our obligations for at least the next twelve months and beyond.</span></div>
CY2020Q4 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
23 State
CY2020Q1 inn Number Of Hotels Temporarily Suspended
NumberOfHotelsTemporarilySuspended
6 hotel
CY2020Q1 inn Number Of Guestrooms Temporarily Suspended
NumberOfGuestroomsTemporarilySuspended
934 Room
CY2020Q1 inn Number Of Hotels With Guests Directed To Sister Properties
NumberOfHotelsWithGuestsDirectedToSisterProperties
9 hotel
CY2020Q1 inn Number Of Guestrooms With Guests Directing To Sister Properties
NumberOfGuestroomsWithGuestsDirectingToSisterProperties
1278 Room
CY2020Q2 inn Number Of Hotels Re Opened
NumberOfHotelsReOpened
5 hotel
CY2020Q2 inn Number Of Guestrooms Re Opened
NumberOfGuestroomsReOpened
682 Room
CY2020Q2 inn Number Of Hotels Adjacent To Sister Properties Re Opened
NumberOfHotelsAdjacentToSisterPropertiesReOpened
4 hotel
CY2020Q2 inn Number Of Guestrooms Adjacent To Sister Properties Re Opened
NumberOfGuestroomsAdjacentToSisterPropertiesReOpened
506 Room
inn Number Of Hotels Adjacent To Sister Properties Re Opened
NumberOfHotelsAdjacentToSisterPropertiesReOpened
3 hotel
inn Number Of Guestrooms Adjacent To Sister Properties Re Opened
NumberOfGuestroomsAdjacentToSisterPropertiesReOpened
430 Room
CY2020Q4 inn Number Of Hotels Temporarily Suspended
NumberOfHotelsTemporarilySuspended
1 hotel
CY2020Q4 inn Number Of Guestrooms Temporarily Suspended
NumberOfGuestroomsTemporarilySuspended
252 Room
CY2020Q4 inn Number Of Hotels With Guests Directed To Sister Properties
NumberOfHotelsWithGuestsDirectedToSisterProperties
2 hotel
CY2020Q4 inn Number Of Guestrooms With Guests Directing To Sister Properties
NumberOfGuestroomsWithGuestsDirectingToSisterProperties
342 Room
CY2020Q2 inn Conserved Cash On Suspension Of Dividend Quarterly
ConservedCashOnSuspensionOfDividendQuarterly
19000000.0 USD
CY2020Q2 inn Conserved Cash On Suspension Of Dividend Annually
ConservedCashOnSuspensionOfDividendAnnually
75000000.0 USD
CY2020Q2 inn Percentage Of Temporary Reduction Of Base Salaries And Fees
PercentageOfTemporaryReductionOfBaseSalariesAndFees
0.25
CY2020Q2 inn Percentage Of Corporate Level Staff Furloughed
PercentageOfCorporateLevelStaffFurloughed
0.25
CY2020 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
CY2020 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
400000 USD
CY2020 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
200000 USD
CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
600000 USD
CY2019 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
500000 USD
CY2018 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
600000 USD
CY2020Q4 inn Real Estate Investment Property At Cost Excluding Undeveloped Land
RealEstateInvestmentPropertyAtCostExcludingUndevelopedLand
2596582000 USD
CY2020 us-gaap Financing Receivable Allowance For Credit Losses Policy For Uncollectible Amounts
FinancingReceivableAllowanceForCreditLossesPolicyForUncollectibleAmounts
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Notes Receivables</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We selectively provide mezzanine financing to developers, where we also have the opportunity to acquire the hotel at or after the completion of the development project, and we also may provide seller financing in connection with a hotel disposition under limited circumstances. We classify notes receivable as held-to-maturity and carry the notes receivable at cost less the unamortized discount, if any. On January 1, 2020, we adopted ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), which requires a financial asset (or a group of financial assets) measured at amortized cost to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset to present the net carrying value at the amount expected to be collected on the financial asset. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. We routinely evaluate our notes receivable and interest receivables for collectability.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Probable losses on notes receivable are recognized in a valuation account that is deducted from the amortized cost basis of the notes receivable and recorded as Provision for credit losses in our Consolidated Statements of Operations. When we place notes receivable on nonaccrual status, we suspend the recognition of interest income until cash interest payments are received.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Generally, we return notes receivable to accrual status when all delinquent interest becomes current and collectability of interest is reasonably assured. We do not measure an allowance for credit losses for accrued interest receivable.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accrued interest receivable is written-off to bad debt expense when collection is not reasonably assured.</span></div>
CY2020 us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div>Our Consolidated Financial Statements are prepared in conformity with GAAP, which requires us to make estimates based on assumptions about current and, for some estimates, future economic and market conditions that affect reported amounts and related disclosures in our Consolidated Financial Statements. Although our current estimates contemplate current and expected future conditions, as applicable, it is reasonably possible that actual conditions could materially differ from our expectations, which could materially affect our consolidated financial position and results of operations. In particular, a number of estimates have been and will continue to be affected by the ongoing COVID-19 pandemic.
CY2019Q4 inn Real Estate Investment Property At Cost Excluding Undeveloped Land
RealEstateInvestmentPropertyAtCostExcludingUndevelopedLand
2568219000 USD
CY2020Q4 inn Real Estate Investment Property Excluding Undeveloped Land Accumulated Depreciation
RealEstateInvestmentPropertyExcludingUndevelopedLandAccumulatedDepreciation
490636000 USD
CY2019Q4 inn Real Estate Investment Property Excluding Undeveloped Land Accumulated Depreciation
RealEstateInvestmentPropertyExcludingUndevelopedLandAccumulatedDepreciation
383987000 USD
CY2020Q4 inn Real Estate Investment Property Net Excluding Undeveloped Land
RealEstateInvestmentPropertyNetExcludingUndevelopedLand
2105946000 USD
CY2019Q4 inn Real Estate Investment Property Net Excluding Undeveloped Land
RealEstateInvestmentPropertyNetExcludingUndevelopedLand
2184232000 USD
CY2020 us-gaap Depreciation
Depreciation
109200000 USD
CY2019 us-gaap Depreciation
Depreciation
99000000.0 USD
CY2018 us-gaap Depreciation
Depreciation
100500000 USD
CY2020Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
11231000 USD
CY2019Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
11231000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
310000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
224000 USD
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
10921000 USD
CY2019Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
11007000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
87000 USD
CY2019Q4 us-gaap Number Of Units In Real Estate Property
NumberOfUnitsInRealEstateProperty
798 Room
CY2019 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
274500000 USD
CY2019Q4 inn Business Combination Recognized Identifiable Assets Acquiredand Liabilities Assumed Net Excluding Purchases Adjustments And Transaction Costs
BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedNetExcludingPurchasesAdjustmentsAndTransactionCosts
274500000 USD
CY2019Q4 inn Business Combination Purchase Of Adjacent Land Parcels
BusinessCombinationPurchaseOfAdjacentLandParcels
2400000 USD
CY2019Q4 inn Business Combination Settlement Amountof Net Working Capital Assets
BusinessCombinationSettlementAmountofNetWorkingCapitalAssets
1000000.0 USD
CY2019Q4 inn Business Acquisition Capitalized Transaction Costs
BusinessAcquisitionCapitalizedTransactionCosts
400000 USD
CY2019Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Land
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand
44868000 USD
CY2019Q4 inn Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Buildings And Improvements
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildingsAndImprovements
219410000 USD
CY2019Q4 inn Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Furniture Fixtures And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFurnitureFixturesAndEquipment
12995000 USD
CY2019Q4 inn Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Assets Current And Noncurrent
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherAssetsCurrentAndNoncurrent
1103000 USD
CY2019Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
278376000 USD
CY2019Q4 inn Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Liabilities Current And Noncurrent
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherLiabilitiesCurrentAndNoncurrent
79000 USD
CY2019Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
278297000 USD
CY2019Q4 inn Business Combination Recognized Identifiable Assets Acquiredand Liabilities Assumed Net Excluding Purchases Adjustments And Transaction Costs
BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedNetExcludingPurchasesAdjustmentsAndTransactionCosts
274500000 USD
CY2019Q4 inn Business Combination Purchase Of Adjacent Land Parcels
BusinessCombinationPurchaseOfAdjacentLandParcels
2400000 USD
CY2019Q4 inn Business Combination Settlement Amountof Net Working Capital Assets
BusinessCombinationSettlementAmountofNetWorkingCapitalAssets
1000000.0 USD
CY2019Q4 inn Business Acquisition Capitalized Transaction Costs
BusinessAcquisitionCapitalizedTransactionCosts
400000 USD
CY2020Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
72 hotel
CY2020Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
72 hotel
CY2020 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
234463000 USD
CY2019 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
572262000 USD
CY2020 inn Business Acquisition Pro Forma Income From Hotel Operations
BusinessAcquisitionProFormaIncomeFromHotelOperations
27792000 USD
CY2019 inn Business Acquisition Pro Forma Income From Hotel Operations
BusinessAcquisitionProFormaIncomeFromHotelOperations
215372000 USD
CY2020 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-149399000 USD
CY2019 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
57909000 USD
CY2020 inn Business Acquisition Pro Forma Net Income Loss Net Of Amount Allocated To Participating Securities
BusinessAcquisitionProFormaNetIncomeLossNetOfAmountAllocatedToParticipatingSecurities
-158411000 USD
CY2019 inn Business Acquisition Pro Forma Net Income Loss Net Of Amount Allocated To Participating Securities
BusinessAcquisitionProFormaNetIncomeLossNetOfAmountAllocatedToParticipatingSecurities
33671000 USD
CY2020 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
-1.52
CY2020 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
-1.52
CY2019 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.32
CY2019 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.32
CY2020 inn Business Combination Pro Forma Net Income Depreciation Property And Income Tax Interest Asset Impairment Loss And Other Corporate Expenses
BusinessCombinationProFormaNetIncomeDepreciationPropertyAndIncomeTaxInterestAssetImpairmentLossAndOtherCorporateExpenses
214000000.0 USD
CY2019 inn Business Combination Pro Forma Net Income Depreciation Property And Income Tax Interest Asset Impairment Loss And Other Corporate Expenses
BusinessCombinationProFormaNetIncomeDepreciationPropertyAndIncomeTaxInterestAssetImpairmentLossAndOtherCorporateExpenses
197100000 USD
CY2020 inn Business Combination Pro Forma Net Income Attributable To Common Stockholders Depreciation Property Tax Interest Asset Impairment Loss And Other Corporate Expenses
BusinessCombinationProFormaNetIncomeAttributableToCommonStockholdersDepreciationPropertyTaxInterestAssetImpairmentLossAndOtherCorporateExpenses
204900000 USD
CY2019 inn Business Combination Pro Forma Net Income Attributable To Common Stockholders Depreciation Property Tax Interest Asset Impairment Loss And Other Corporate Expenses
BusinessCombinationProFormaNetIncomeAttributableToCommonStockholdersDepreciationPropertyTaxInterestAssetImpairmentLossAndOtherCorporateExpenses
193800000 USD
CY2020 us-gaap Asset Impairment Charges
AssetImpairmentCharges
1800000 USD
CY2019 inn Number Of Land Parcels Impaired
NumberOfLandParcelsImpaired
2 Land_Parcel
CY2020 us-gaap Asset Impairment Charges
AssetImpairmentCharges
1800000 USD
CY2020 inn Asset Impairment Charges Number Of Purchase Options
AssetImpairmentChargesNumberOfPurchaseOptions
2 option
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
18177000 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
27595000 USD
CY2020Q2 inn Restricted Cash Released
RestrictedCashReleased
1600000 USD
CY2020Q2 inn Restricted Cash Numberof Hotels Cash Released For
RestrictedCashNumberofHotelsCashReleasedFor
7 hotel
CY2020Q2 inn Restricted Cash Released To Be Repaidin10 Equal Installments
RestrictedCashReleasedToBeRepaidin10EqualInstallments
8900000 USD
CY2020Q2 inn Restricted Cash Released Number Of Equal Monthly Installments Replenished
RestrictedCashReleasedNumberOfEqualMonthlyInstallmentsReplenished
10 installment
CY2020Q2 inn Restricted Cash Released Monthly Installment Replenished Beginning Date Prior To Next Scheduled Renovation Date
RestrictedCashReleasedMonthlyInstallmentReplenishedBeginningDatePriorToNextScheduledRenovationDate
P12M
CY2020Q2 inn Restricted Cash Released Lump Sum Payment Date Prior To Each Respective Renovation Date
RestrictedCashReleasedLumpSumPaymentDatePriorToEachRespectiveRenovationDate
P60D
CY2020Q4 us-gaap Prepaid Insurance
PrepaidInsurance
4123000 USD
CY2019Q4 us-gaap Prepaid Insurance
PrepaidInsurance
3501000 USD
CY2020Q4 inn Other Prepaid Expense Current And Noncurrent
OtherPrepaidExpenseCurrentAndNoncurrent
3018000 USD
CY2019Q4 inn Other Prepaid Expense Current And Noncurrent
OtherPrepaidExpenseCurrentAndNoncurrent
3311000 USD
CY2020Q4 us-gaap Prepaid Taxes
PrepaidTaxes
2622000 USD
CY2019Q4 us-gaap Prepaid Taxes
PrepaidTaxes
2032000 USD
CY2020Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
9763000 USD
CY2019Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
8844000 USD
CY2020Q4 inn Initial Franchise Fees Gross
InitialFranchiseFeesGross
6795000 USD
CY2019Q4 inn Initial Franchise Fees Gross
InitialFranchiseFeesGross
6615000 USD
CY2020Q4 inn Accumulated Amortization Deferred Costs
AccumulatedAmortizationDeferredCosts
2366000 USD
CY2019Q4 inn Accumulated Amortization Deferred Costs
AccumulatedAmortizationDeferredCosts
1906000 USD
CY2020Q4 inn Deferred Costs Net
DeferredCostsNet
4429000 USD
CY2019Q4 inn Deferred Costs Net
DeferredCostsNet
4709000 USD
CY2020 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
500000 USD
CY2019 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
400000 USD
CY2018 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
500000 USD
CY2020Q4 inn Financing Receivable Purchase Options Related To Real Estate Loans
FinancingReceivablePurchaseOptionsRelatedToRealEstateLoans
7161000 USD
CY2019Q4 inn Financing Receivable Purchase Options Related To Real Estate Loans
FinancingReceivablePurchaseOptionsRelatedToRealEstateLoans
8920000 USD
CY2020Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
1013000 USD
CY2019Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
981000 USD
CY2020Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
2000 USD
CY2019Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
2138000 USD
CY2020Q4 us-gaap Other Assets
OtherAssets
8176000 USD
CY2019Q4 us-gaap Other Assets
OtherAssets
12039000 USD
CY2020Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
30850000 USD
CY2019Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
16177000 USD
CY2020Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
17713000 USD
CY2019Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
21392000 USD
CY2020Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
6632000 USD
CY2019Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
11625000 USD
CY2020Q4 inn Other Accrued Expenses At Hotels
OtherAccruedExpensesAtHotels
5922000 USD
CY2019Q4 inn Other Accrued Expenses At Hotels
OtherAccruedExpensesAtHotels
13274000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
2793000 USD
CY2019Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
8209000 USD
CY2020Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
1189000 USD
CY2019Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
1082000 USD
CY2020Q4 inn Accrued And Other Liabilities
AccruedAndOtherLiabilities
65099000 USD
CY2019Q4 inn Accrued And Other Liabilities
AccruedAndOtherLiabilities
71759000 USD
CY2020Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0343
CY2019Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0395
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1101478000 USD
CY2019Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1022726000 USD
CY2020Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
6733000 USD
CY2019Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
6563000 USD
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.049
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
1094745000 USD
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
1016163000 USD
CY2020Q4 us-gaap Longterm Debt Percentage Bearing Fixed Interest Amount
LongtermDebtPercentageBearingFixedInterestAmount
545754000 USD
CY2020Q4 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
0.50
CY2019Q4 us-gaap Longterm Debt Percentage Bearing Fixed Interest Amount
LongtermDebtPercentageBearingFixedInterestAmount
549236000 USD
CY2019Q4 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
0.54
CY2020Q4 us-gaap Longterm Debt Percentage Bearing Variable Interest Amount
LongtermDebtPercentageBearingVariableInterestAmount
555724000 USD
CY2020Q4 us-gaap Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
0.50
CY2019Q4 us-gaap Longterm Debt Percentage Bearing Variable Interest Amount
LongtermDebtPercentageBearingVariableInterestAmount
473490000 USD
CY2019Q4 us-gaap Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
0.46
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1101478000 USD
CY2019Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1022726000 USD
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
3100000 USD
CY2019 us-gaap Operating Lease Cost
OperatingLeaseCost
3300000 USD
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
3912000 USD
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
229072000 USD
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
385935000 USD
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
216105000 USD
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
40135000 USD
CY2020Q4 us-gaap Debt Instrument Carrying Amount
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CY2020 us-gaap Rental Income Nonoperating
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1900000 USD
CY2019 us-gaap Rental Income Nonoperating
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2200000 USD
CY2018 us-gaap Rental Income Nonoperating
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1700000 USD
CY2018 us-gaap Operating Lease Cost
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3600000 USD
CY2020 us-gaap Operating Lease Payments
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2800000 USD
CY2019 us-gaap Operating Lease Payments
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3000000.0 USD
CY2018 us-gaap Operating Lease Payments
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3600000 USD
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P28Y3M
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
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2066000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1842000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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970000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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910000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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912000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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27994000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
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34694000 USD
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16256000 USD
CY2020Q4 us-gaap Operating Lease Liability
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18438000 USD
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P7Y
CY2020Q4 us-gaap Common Stock Shares Authorized
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500000000 shares
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CommonStockParOrStatedValuePerShare
0.01
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1 Vote
CY2017Q2 inn Sale Of Stock Aggregate Offering Price
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200000000.0 USD
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CommonStockSharesOutstanding
105169515 shares
CY2018Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
104783179 shares
CY2020 us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
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CY2019 us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
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CY2020 us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
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212643 shares
CY2019 us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
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167757 shares
CY2020 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
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CY2019 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
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CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
105708787 shares
CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
105169515 shares
CY2020Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
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CY2019Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
14365537 shares
CY2020Q4 us-gaap Preferred Stock Shares Authorized
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100000000 shares
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PreferredStockParOrStatedValuePerShare
0.01
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5 hotel
CY2020 us-gaap Asset Impairment Charges
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1800000 USD
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0 USD
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
235000 shares
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
235000 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
235000 shares
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
235000 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
235000 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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235000 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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9.75
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P0Y2M12D
CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0 USD
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 USD
CY2019Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
600000 USD
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
600000 USD
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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0 USD
CY2020Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
7400000 USD
CY2020Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
7382000 USD
CY2020Q4 inn Employee Service Share Based Compensation Nonvested Awards Compensation Cost Next Twelve Months
EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostNextTwelveMonths
4509000 USD
CY2020Q4 inn Employee Service Share Based Compensation Nonvested Awards Compensation Cost Year Two
EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostYearTwo
2429000 USD
CY2020Q4 inn Employee Service Share Based Compensation Nonvested Awards Compensation Cost Year Three
EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostYearThree
428000 USD
CY2020Q4 inn Employee Service Share Based Compensation Nonvested Awards Compensation Cost Year Four
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16000 USD
CY2020 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
300000 USD
CY2019 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
300000 USD
CY2018 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
200000 USD
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-904000 USD
CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
869000 USD
CY2018 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-67000 USD
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
224000 USD
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
643000 USD
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-425000 USD
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
1548000 USD
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-32000 USD
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-279000 USD
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
508000 USD
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
20000 USD
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-151000 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1376000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1500000 USD
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-922000 USD
CY2020 inn Effective Income Tax Rate Reconciliation Effect Of Permanent Differences And Other
EffectiveIncomeTaxRateReconciliationEffectOfPermanentDifferencesAndOther
319000 USD
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-31052000 USD
CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
17608000 USD
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
18943000 USD
CY2020 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
-19963000 USD
CY2019 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
16996000 USD
CY2018 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
19073000 USD
CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-3079000 USD
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
568000 USD
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
266000 USD
CY2020 inn Effective Income Tax Rate Reconciliation Provisionto Returnand Deferred Adjustment Amount
EffectiveIncomeTaxRateReconciliationProvisiontoReturnandDeferredAdjustmentAmount
-16000 USD
CY2019 inn Effective Income Tax Rate Reconciliation Provisionto Returnand Deferred Adjustment Amount
EffectiveIncomeTaxRateReconciliationProvisiontoReturnandDeferredAdjustmentAmount
-6000 USD
CY2019 inn Effective Income Tax Rate Reconciliation Effect Of Permanent Differences And Other
EffectiveIncomeTaxRateReconciliationEffectOfPermanentDifferencesAndOther
326000 USD
CY2018 inn Effective Income Tax Rate Reconciliation Effect Of Permanent Differences And Other
EffectiveIncomeTaxRateReconciliationEffectOfPermanentDifferencesAndOther
-184000 USD
CY2018 inn Effective Income Tax Rate Reconciliation Provisionto Returnand Deferred Adjustment Amount
EffectiveIncomeTaxRateReconciliationProvisiontoReturnandDeferredAdjustmentAmount
75000 USD
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
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0 USD
CY2020Q4 us-gaap Deferred Tax Assets Liabilities Net
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2000 USD
CY2020 inn Effective Income Tax Rate Reconciliation Deduction For Partnership Distributions Amount
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0 USD
CY2019 inn Effective Income Tax Rate Reconciliation Deduction For Partnership Distributions Amount
EffectiveIncomeTaxRateReconciliationDeductionForPartnershipDistributionsAmount
0 USD
CY2018 inn Effective Income Tax Rate Reconciliation Deduction For Partnership Distributions Amount
EffectiveIncomeTaxRateReconciliationDeductionForPartnershipDistributionsAmount
949000 USD
CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
15241000 USD
CY2019 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0 USD
CY2018 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
0 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1376000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1500000 USD
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-922000 USD
CY2020 inn Number Of Year Cumulative Loss
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P3Y
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
15200000 USD
CY2019Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
34000 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
13521000 USD
CY2019Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
38000 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
1537000 USD
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
2068000 USD
CY2020Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
185000 USD
CY2019Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
32000 USD
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
15241000 USD
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0 USD
CY2020Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
2000 USD
CY2019Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
2138000 USD
CY2020Q4 us-gaap Deferred Tax Assets Gross
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15267000 USD
CY2019Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
2172000 USD
CY2020Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
24000 USD
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
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15241000 USD
CY2019Q4 us-gaap Deferred Tax Assets Liabilities Net
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2138000 USD
CY2020Q4 us-gaap Unrecognized Tax Benefits
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0 USD
CY2020 inn Operating Loss Carryforwards Expected Tax Benefit Cares Act
OperatingLossCarryforwardsExpectedTaxBenefitCARESAct
1000000.0 USD
CY2020 inn Estimated Employee Retention Tax Credit Cares Act
EstimatedEmployeeRetentionTaxCreditCARESAct
300000 USD
CY2020Q4 inn Estimated Employee Retention Tax Credit Cares Act Anticipated Next Fiscal Year
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700000 USD
CY2020 us-gaap Profit Loss
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-149245000 USD
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82348000 USD
CY2018 us-gaap Profit Loss
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CY2020 us-gaap Preferred Stock Dividends Income Statement Impact
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14838000 USD
CY2019 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
14838000 USD
CY2018 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
16671000 USD
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0 USD
CY2019 us-gaap Preferred Stock Redemption Premium
PreferredStockRedemptionPremium
0 USD
CY2018 us-gaap Preferred Stock Redemption Premium
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3277000 USD
CY2020 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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81000 USD
CY2019 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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309000 USD
CY2018 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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271000 USD
CY2020 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
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-271000 USD
CY2019 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
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157000 USD
CY2018 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
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205000 USD
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-5635000 USD
CY2019 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
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-419000 USD
CY2018 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
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0 USD
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
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-158258000 USD
CY2019 us-gaap Net Income Loss Available To Common Stockholders Basic
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67463000 USD
CY2018 us-gaap Net Income Loss Available To Common Stockholders Basic
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70702000 USD
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104141000 shares
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
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103887000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
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103623000 shares
CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0 shares
CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
52000 shares
CY2018 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
219000 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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104141000 shares
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103939000 shares
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103842000 shares
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-1.52
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0.65
CY2018 us-gaap Earnings Per Share Basic And Diluted
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0.68
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CY2020Q2 us-gaap Revenues
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25436000 USD
CY2020Q3 us-gaap Revenues
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52412000 USD
CY2020Q4 us-gaap Revenues
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48230000 USD
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CY2020Q2 us-gaap Profit Loss
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CY2020Q3 us-gaap Profit Loss
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CY2020Q4 us-gaap Profit Loss
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-15322000 USD
CY2020Q2 us-gaap Net Income Loss
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CY2020Q3 us-gaap Net Income Loss
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CY2020Q4 us-gaap Net Income Loss
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-0.18
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-0.52
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
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-0.37
CY2020Q4 us-gaap Earnings Per Share Basic And Diluted
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138952000 USD
CY2019Q2 us-gaap Revenues
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142930000 USD
CY2019Q3 us-gaap Revenues
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133685000 USD
CY2019Q4 us-gaap Revenues
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133781000 USD
CY2019Q1 us-gaap Profit Loss
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12900000 USD
CY2019Q2 us-gaap Profit Loss
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49069000 USD
CY2019Q3 us-gaap Profit Loss
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11626000 USD
CY2019Q4 us-gaap Profit Loss
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8753000 USD
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CY2019Q2 us-gaap Net Income Loss
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CY2019Q3 us-gaap Net Income Loss
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CY2019Q4 us-gaap Net Income Loss
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9242000 USD
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0.09
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0.43
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0.07
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0.05
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6 director
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323075000 USD
CY2020Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
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2123406000 USD
CY2020Q4 us-gaap Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Carrying Costs
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124287000 USD
CY2020Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Land
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321528000 USD
CY2020Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements
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2249240000 USD
CY2020Q4 us-gaap Real Estate Gross At Carrying Value
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2570768000 USD
CY2020Q4 us-gaap Real Estate Accumulated Depreciation
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490326000 USD
CY2020Q4 us-gaap Sec Schedule Iii Real Estate Investment Property Net
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2080442000 USD
CY2020Q4 srt Real Estate And Accumulated Depreciation Amount Of Encumbrances
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153978000 USD
CY2019Q4 us-gaap Real Estate Gross At Carrying Value
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2553428000 USD
CY2018Q4 us-gaap Real Estate Gross At Carrying Value
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2406269000 USD
CY2017Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
2355723000 USD
CY2020 us-gaap Real Estate Other Additions
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19918000 USD
CY2019 us-gaap Real Estate Other Additions
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336480000 USD
CY2018 us-gaap Real Estate Other Additions
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151829000 USD
CY2020 us-gaap Real Estate Cost Of Real Estate Sold
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2578000 USD
CY2019 us-gaap Real Estate Cost Of Real Estate Sold
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186800000 USD
CY2018 us-gaap Real Estate Cost Of Real Estate Sold
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100208000 USD
CY2020 us-gaap Sec Schedule Iii Real Estate Writedown Or Reserve Amount
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0 USD
CY2019 us-gaap Sec Schedule Iii Real Estate Writedown Or Reserve Amount
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2521000 USD
CY2018 us-gaap Sec Schedule Iii Real Estate Writedown Or Reserve Amount
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1075000 USD
CY2020Q4 us-gaap Real Estate Gross At Carrying Value
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2570768000 USD
CY2019Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
2553428000 USD
CY2018Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
2406269000 USD
CY2019Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
383763000 USD
CY2018Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
351821000 USD
CY2017Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
290066000 USD
CY2020 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
109159000 USD
CY2019 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
99013000 USD
CY2018 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
100545000 USD
CY2020 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
2596000 USD
CY2019 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
67071000 USD
CY2018 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
38790000 USD
CY2020Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
490326000 USD
CY2019Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
383763000 USD
CY2018Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
351821000 USD
CY2020 inn Property Plant And Equipment Cost For Income Tax Purposes
PropertyPlantAndEquipmentCostForIncomeTaxPurposes
2390000000 USD

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