Apple Hospitality REIT (APLE) 10-Q7 Nov 222022 Q3 Quarterly reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2022	Nov. 04, 2022
Cover [Abstract]
Entity Registrant Name	APPLE HOSPITALITY REIT, INC.
Trading Symbol	APLE
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		228,752,610
Amendment Flag	false
Entity Central Index Key	0001418121
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-37389
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	26-1379210
Entity Address, Address Line One	814 East Main Street
Entity Address, City or Town	Richmond
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23219
City Area Code	804
Local Phone Number	344-8121
Title of 12(b) Security	Common Shares, no par value
Security Exchange Name	NYSE
Entity Interactive Data Current	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Assets
Investment in real estate, net of accumulated depreciation and amortization of $1,446,221 and $1,311,262, respectively	$ 4,567,000	$ 4,677,185
Cash and cash equivalents	25,573	3,282
Restricted cash-furniture, fixtures and other escrows	38,821	36,667
Due from third party managers, net	65,110	40,052
Other assets, net	80,999	33,341
Total Assets	4,777,503	4,790,527
Liabilities
Debt, net	1,318,319	1,438,758
Finance lease liabilities	111,969	111,776
Accounts payable and other liabilities	94,219	92,672
Total Liabilities	1,524,507	1,643,206
Shareholders' Equity
Preferred stock, authorized 30,000,000 shares; none issued and outstanding	0	0
Common stock, no par value, authorized 800,000,000 shares; issued and outstanding 228,833,710 and 228,255,642 shares, respectively	4,579,198	4,569,352
Accumulated other comprehensive income (loss)	38,354	(15,508)
Distributions greater than net income	(1,364,556)	(1,406,523)
Total Shareholders' Equity	3,252,996	3,147,321
Total Liabilities and Shareholders' Equity	$ 4,777,503	$ 4,790,527

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Statement Of Financial Position [Abstract]
Investment in real estate accumulated depreciation (in Dollars)	$ 1,446,221	$ 1,311,262
Preferred stock, shares authorized	30,000,000	30,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares authorized	800,000,000	800,000,000
Common stock, shares issued	228,833,710	228,255,642
Common stock, shares outstanding	228,833,710	228,255,642

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues:
Total revenue	$ 341,150	$ 277,164	$ 939,296	$ 683,281
Expenses:
Total hotel operating expense	193,067	153,953	529,584	393,103
Property taxes, insurance and other	19,052	17,927	56,510	54,936
General and administrative	10,271	13,261	30,216	29,815
Loss on impairment of depreciable real estate assets				10,754
Depreciation and amortization	45,135	44,217	135,781	139,313
Total expense	267,525	229,358	752,091	627,921
Gain on sale of real estate	1,785	44	1,785	3,664
Operating income	75,410	47,850	188,990	59,024
Interest and other expense, net	(14,933)	(15,977)	(44,785)	(53,108)
Income before income taxes	60,477	31,873	144,205	5,916
Income tax expense	(1,331)	(114)	(1,712)	(309)
Net income	59,146	31,759	142,493	5,607
Other comprehensive income :
Interest rate derivatives	16,024	3,426	53,862	18,152
Comprehensive income	$ 75,170	$ 35,185	$ 196,355	$ 23,759
Basic net income per common share	$ 0.26	$ 0.14	$ 0.62	$ 0.02
Diluted net income per common share	$ 0.26	$ 0.14	$ 0.62	$ 0.02
Weighted average common shares outstanding - basic (in Shares)	228,991	228,436	228,992	225,664
Weighted average common shares outstanding - diluted (in Shares)	228,991	228,436	228,992	225,664
Room [Member]
Revenues:
Total revenue	$ 315,940	$ 260,415	$ 866,286	$ 640,062
Food and Beverage [Member]
Revenues:
Total revenue	11,870	6,315	32,353	14,186
Other [Member]
Revenues:
Total revenue	13,340	10,434	40,657	29,033
Direct Operating [Member]
Expenses:
Total hotel operating expense	81,320	61,954	221,715	153,290
Hotel Administrative [Member]
Expenses:
Total hotel operating expense	27,516	23,126	78,711	62,408
Sales and Marketing [Member]
Expenses:
Total hotel operating expense	28,533	23,015	78,494	58,283
Utilities [Member]
Expenses:
Total hotel operating expense	13,383	11,410	34,226	31,322
Repair and Maintenance [Member]
Expenses:
Total hotel operating expense	15,632	12,600	43,468	34,711
Royalty [Member]
Expenses:
Total hotel operating expense	14,949	12,274	41,015	30,058
Management Service [Member]
Expenses:
Total hotel operating expense	$ 11,734	$ 9,574	$ 31,955	$ 23,031

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Distributions Greater Than Net Income [Member]
Balance at Dec. 31, 2020	$ 3,029,347	$ 4,488,419	$ (42,802)	$ (1,416,270)
Balance (in Shares) at Dec. 31, 2020		223,212
Share based compensation, net	6,762	$ 6,762
Share based compensation, net (in Shares)		465
Issuance of common shares, net	75,036	$ 75,036
Issuance of common shares, net (in shares)		4,677
Interest rate derivatives	18,152		18,152
Net income	5,607			5,607
Distributions declared to shareholders	(6,790)			(6,790)
Balance at Sep. 30, 2021	3,128,114	$ 4,570,217	(24,650)	(1,417,453)
Balance (in Shares) at Sep. 30, 2021		228,354
Balance at Jun. 30, 2021	3,094,323	$ 4,569,332	(28,076)	(1,446,933)
Balance (in Shares) at Jun. 30, 2021		228,341
Share based compensation, net	915	$ 915
Share based compensation, net (in Shares)		13
Issuance of common shares, net	(30)	$ (30)
Interest rate derivatives	3,426		3,426
Net income	31,759			31,759
Distributions declared to shareholders	(2,279)			(2,279)
Balance at Sep. 30, 2021	3,128,114	$ 4,570,217	(24,650)	(1,417,453)
Balance (in Shares) at Sep. 30, 2021		228,354
Balance at Dec. 31, 2021	3,147,321	$ 4,569,352	(15,508)	(1,406,523)
Balance (in Shares) at Dec. 31, 2021		228,256
Share based compensation, net	11,585	$ 11,585
Share based compensation, net (in Shares)		685
Equity issuance costs	(218)	$ (218)
Common shares repurchased	$ (1,521)	$ (1,521)
Common shares repurchased (in Shares)	(100)	(107)
Interest rate derivatives	$ 53,862		53,862
Net income	142,493			142,493
Distributions declared to shareholders	(100,526)			(100,526)
Balance at Sep. 30, 2022	3,252,996	$ 4,579,198	38,354	(1,364,556)
Balance (in Shares) at Sep. 30, 2022		228,834
Balance at Jun. 30, 2022	3,221,626	$ 4,579,590	22,330	(1,380,294)
Balance (in Shares) at Jun. 30, 2022		228,886
Share based compensation, net	996	$ 996
Share based compensation, net (in Shares)		45
Equity issuance costs	(12)	$ (12)
Common shares repurchased	(1,376)	$ (1,376)
Common shares repurchased (in Shares)		(97)
Interest rate derivatives	16,024		16,024
Net income	59,146			59,146
Distributions declared to shareholders	(43,408)			(43,408)
Balance at Sep. 30, 2022	$ 3,252,996	$ 4,579,198	$ 38,354	$ (1,364,556)
Balance (in Shares) at Sep. 30, 2022		228,834

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parentheticals) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement Of Stockholders Equity [Abstract]
Distributions declared to shareholders	$ 0.19	$ 0.01	$ 0.44	$ 0.03

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Cash flows from operating activities:
Net income	$ 59,146	$ 31,759	$ 142,493	$ 5,607
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	45,135	44,217	135,781	139,313
Loss on impairment of depreciable real estate assets				10,754
Gain on sale of real estate	(1,785)	(44)	(1,785)	(3,664)
Other non-cash expenses, net			6,582	8,208
Changes in operating assets and liabilities:
Increase in due from third party managers, net			(25,058)	(30,383)
Increase in other assets, net			(4,069)	(755)
Increase in accounts payable and other liabilities			19,257	17,282
Net cash provided by operating activities			273,201	146,362
Cash flows from investing activities:
Acquisition of hotel properties, net				(197,228)
Disbursements for potential acquisitions, net			(1,602)	(2,645)
Capital improvements			(34,921)	(9,138)
Net proceeds from sale of real estate			8,293	231,008
Net cash provided by (used in) investing activities			(28,230)	21,997
Cash flows from financing activities:
Net proceeds (disbursements) related to issuance of common shares			(218)	75,036
Repurchases of common shares			(1,521)
Repurchases of common shares to satisfy employee withholding requirements			(4,415)	(1,650)
Distributions paid to common shareholders	(38,800)	(2,300)	(86,792)	(4,510)
Net payments on revolving credit facility			(76,000)	(105,800)
Proceeds from term loans and senior notes			125,000
Payments of mortgage debt and other loans			(166,243)	(66,349)
Principal payments on finance leases			(108)	(24,000)
Financing costs			(10,229)	(1,576)
Net cash used in financing activities			(220,526)	(128,849)
Net change in cash, cash equivalents and restricted cash			24,445	39,510
Cash, cash equivalents and restricted cash, beginning of period			39,949	34,368	$ 34,368
Cash, cash equivalents and restricted cash, end of period	64,394	73,878	64,394	73,878	39,949
Supplemental cash flow information:
Interest paid			42,651	49,735
Supplemental disclosure of noncash investing and financing activities:
Notes payable originated from acquisitions				56,000
Accrued distribution to common shareholders	15,981	2,279	15,981	2,279	2,300
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents, beginning of period			3,282	5,556	5,556
Restricted cash-furniture, fixtures and other escrows, beginning of period			36,667	28,812	28,812
Cash, cash equivalents and restricted cash, beginning of period			39,949	34,368	34,368
Cash and cash equivalents, end of period	25,573	39,432	25,573	39,432	3,282
Restricted cash-furniture, fixtures and other escrows, end of period	38,821	34,446	38,821	34,446	36,667
Cash, cash equivalents and restricted cash, end of period	$ 64,394	$ 73,878	$ 64,394	$ 73,878	$ 39,949

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	9 Months Ended
Organization and Summary of Significant Accounting Policies	Sep. 30, 2022
Accounting Policies [Abstract]
Organization and Summary of Significant Accounting Policies	1. Organization and Summary of Significant Accounting Policies Organization Apple Hospitality REIT, Inc., formed in November 2007 as a Virginia corporation, together with its wholly-owned subsidiaries (the “Company”), is a self-advised real estate investment trust (“REIT”) that invests in income-producing real estate, primarily in the lodging sector, in the United States (“U.S.”). The Company’s fiscal year end is December 31. The Company has no foreign operations or assets, and its operating structure includes only one reportable segment. The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated. Although the Company has interests in potential variable interest entities through its purchase commitments, it is not the primary beneficiary as the Company does not have any elements of power in the decision-making process of these entities, and therefore does not consolidate the entities. As of September 30, 2022, the Company owned 218 hotels with an aggregate of 28,693 rooms located in 36 states. The Company’s common shares are listed on the New York Stock Exchange (“NYSE”) under the ticker symbol “APLE.” Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with the rules and regulations for reporting on Form 10-Q. Accordingly, they do not include all of the information required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. These unaudited financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2021 (the “2021 Form 10-K”). Operating results for the three and nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for the twelve-month period ending December 31, 2022 . Use of Estimates The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Coronavirus COVID-19 Pandemic As a result of the coronavirus COVID-19 pandemic (“COVID-19”) and subsequent variants and the impact it has had on travel and the broader economy throughout the U.S. since March 2020, the Company’s hotels experienced significant declines in occupancy in 2020 and 2021 relative to 2019 levels. While occupancy has largely recovered to 2019 pre-pandemic levels, due to the continued impacts from the COVID-19 variants on the hotel industry and the general economy, there remains uncertainty as to when operations at the hotels will fully return to pre-pandemic levels on a sustained basis. Net Income Per Common Share Basic net income per common share is computed based upon the weighted average number of shares outstanding during the period. Diluted net income per common share is calculated after giving effect to all potential common shares that were dilutive and outstanding for the period. Basic and diluted net income per common share were the same for each of the periods presented. Accounting Standards Recently Adopted Reference Rate Reform In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2020-04, Reference Rate Reform (Topic 848) , which provides optional guidance through December 31, 2022 to ease the potential burden in accounting for, or recognizing the effects of, reference rate reform on financial reporting. In January 2021, the FASB issued 2021-01, Reference Rate Reform (Topic 848), Scope, which further clarified the scope of the reference rate reform optional practical expedients and exceptions outlined in Topic 848. The amendments in ASU Nos. 2020-04 and 2021-01 apply to contract modifications that replace a reference rate affected by reference rate reform, providing optional expedients regarding the measurement of hedge effectiveness in hedging relationships that have been modified to replace a reference rate. The guidance in ASU Nos. 2020-04 and 2021-01 became effective upon issuance and the provisions of the ASUs have not had a material impact on the Company’s consolidated financial statements and related disclosures as of September 30, 2022. The provisions of these updates will generally affect the Company by allowing, among other things, the following: • Modifications of the Company’s unsecured credit facilities (as defined below) to replace the London Interbank Offered Rate (“LIBOR”) with a substitute index to be accounted for as a non-substantial modification and not considered a debt extinguishment. • Changes to the floating interest rate index used in the Company’s interest rate swaps to not be considered a change to the critical terms of the hedge and therefore not requiring a dedesignation of the hedging relationship. In July 2022, the Company amended each of its unsecured credit facilities and interest rate swap agreements to replace LIBOR with the Secured Overnight Financing Rate (“SOFR”) as the reference rate. In accordance with ASU 2020-04, as amended, these amendments were accounted for as non-substantial modifications. See Notes 4 and 5 for more information regarding amendments made to the Company’s unsecured credit facilities and interest rate swap agreements. Accounting for Certain Equity Options In May 2021, the FASB issued ASU No. 2021-04, Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (Topics 260, 470, 718 and 815) , which provides updated guidance to clarify and reduce diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options that remain equity classified after modification or exchange. The provisions of this update are effective for annual and interim periods beginning after December 15, 2021. The adoption of this update is not material to the Company’s consolidated financial statements. Accounting for Funds Received as Government Assistance In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832) to increase the transparency of government assistance disclosures including the disclosure of (1) the types of assistance, (2) an entity’s accounting for the assistance, and (3) the effect of the assistance on an entity’s financial statements. The provisions of this update are effective for annual periods beginning after December 15, 2021. The adoption of this update is not expected to have a material impact on the Company’s consolidated financial statements.

Investment in Real Estate

Investment in Real Estate	9 Months Ended
Investment in Real Estate	Sep. 30, 2022
Real Estate [Abstract]
Investment in Real Estate	2. Investment in Real Estate The Company’s investment in real estate consisted of the following (in thousands): September 30, December 31, 2022 2021 Land $ 794,317 $ 794,899 Building and improvements 4,593,388 4,584,829 Furniture, fixtures and equipment 505,065 488,773 Finance ground lease assets 102,084 102,084 Franchise fees 18,367 17,862 6,013,221 5,988,447 Less accumulated depreciation and amortization ( 1,446,221 ) ( 1,311,262 ) Investment in real estate, net $ 4,567,000 $ 4,677,185 As of September 30, 2022, the Company owned 218 hotels with an aggregate of 28,693 rooms located in 36 states. The Company leases all of its hotels to its wholly-owned taxable REIT subsidiary (or a subsidiary thereof) under a master hotel lease agreement. Hotel Acquisitions There were no acquisitions during the nine months ended September 30, 2022 . During the year ended December 31, 2021 , the Company acquired eight hotels, including four hotels during the nine months ended September 30, 2021. The following table sets forth the location, brand, manager, date acquired, number of rooms and gross purchase price, excluding transaction costs, for each hotel. All dollar amounts are in thousands. City State Brand Manager Date Rooms Gross Madison WI Hilton Garden Inn Raymond 2/18/2021 176 $ 49,599 Portland ME AC Hotels Crestline 8/20/2021 178 66,750 Greenville SC Hyatt Place Crestline 9/1/2021 130 30,000 Portland ME Aloft Crestline 9/10/2021 157 51,150 Memphis TN Hilton Garden Inn Crestline 10/28/2021 150 38,000 Fort Worth TX Hilton Garden Inn Raymond 11/17/2021 157 29,500 Fort Worth TX Homewood Suites Raymond 11/17/2021 112 21,500 Portland OR Hampton Raymond 11/17/2021 243 75,000 1,303 $ 361,499 In 2021, the Company used borrowings under its $ 425 million revolving credit facility (as defined below) to purchase the Madison, Wisconsin and Memphis, Tennessee hotels, used available cash to purchase the Portland, Maine and Greenville, South Carolina hotels and used a mix of available cash and borrowings under its $ 425 million revolving credit facility to purchase the Fort Worth, Texas and Portland, Oregon hotels. The acquisitions of these hotel properties were accounted for as acquisitions of asset groups, whereby costs incurred to effect the acquisitions (which were not significant) were capitalized as part of the cost of the assets acquired. For the four hotels acquired during the nine months ended September 30, 2021, the amount of revenue and operating income included in the Company’s consolidated statement of operations from the date of acquisition through September 30, 2021 was approximately $ 5.8 million and $ 0.7 million, respectively. Seattle Land Acquisition On August 16, 2021, the Company purchased the fee interest in the land at the Seattle, Washington Residence Inn, previously held under a finance ground lease. The Company utilized $ 24.0 million of its available cash and entered into a one-year note payable to the seller for $ 56.0 million to fund the purchase price of $ 80.0 million. The note payable bore interest, which was payable monthly , at a fixed annual rate of 4.0 %. On June 16, 2022, the note was repaid in full. The land purchase was accounted for as a retirement of the finance lease, with the difference of $ 16.6 million between the carrying amount of the net right-of-use asset of $ 94.5 million and the finance lease liability of $ 111.1 million applied as an adjustment to the carrying amount of the acquired land. Hotel Purchase Contract Commitments As of September 30, 2022 , the Company had outstanding contracts for the potential purchase of three hotels for a total expected purchase price of approximately $ 163.6 million. Of these three hotels, two are existing, and the Company completed the purchase of the two existing hotels on October 25, 2022. See Note 9 for additional information concerning these two acquisitions. The remaining hotel purchase contract as of September 30, 2022 is for a hotel under development that is currently planned to be completed and opened for business in early 2024, at which time the Company expects to complete the purchase of this hotel. Although the Company is working towards acquiring this hotel, there are a number of conditions to closing that have not yet been satisfied and there can be no assurance that closing on this hotel will occur under the outstanding purchase contract. If the seller meets all of the conditions to closing, the Company is obligated to specifically perform under this contract and acquire the hotel. The following table summarizes the location, brand, date of purchase contract, expected number of rooms, refundable (if the seller does not meet its obligations under the contract) deposits paid, and gross purchase price for each of the contracts outstanding at September 30, 2022. All dollar amounts are in thousands. Location Brands Date of Rooms Refundable Gross Madison, WI (1) Embassy Suites 7/27/2021 260 $ 893 $ 78,598 Louisville, KY (2) AC Hotels 9/8/2022 156 750 51,000 Pittsburgh, PA (2) AC Hotels 9/8/2022 134 500 34,000 550 $ 2,143 $ 163,598 (1) This hotel is currently under development. The table shows the expected number of rooms upon hotel completion and the expected franchise brand. Assuming all conditions to closing are met, the purchase of this hotel is expected to occur in early 2024. If the seller meets all of the conditions to closing, the Company is obligated to specifically perform under the contract. As this property is under development, at this time, the seller has not met all of the conditions to closing. (2) The Company completed the purchase of these hotels in October 2022. See Note 9 for additional information concerning these two acquisitions.

Dispositions

Dispositions	9 Months Ended
Dispositions	Sep. 30, 2022
Discontinued Operations And Disposal Groups [Abstract]
Dispositions	3. Dispositions During the nine months ended September 30, 2022 , the Company sold one hotel, a 55 -room independent boutique hotel in Richmond, Virginia, to an unrelated party for a gross sales price of approximately $ 8.5 million, resulting in a gain on sale of approximately $ 1.8 million, net of transaction costs, which is included in the Company's consolidated statement of operations for the nine months ended September 30, 2022. The hotel had a total carrying value of approximately $ 6.5 million at the time of the sale. During the year ended December 31, 2021 , the Company sold 23 hotels in four separate transactions with unrelated parties for a total combined gross sales price of approximately $ 234.6 million, resulting in a combined net gain on sale, after giving effect to impairment charges discussed below, of approximately $ 3.6 million, net of transaction costs, which is included in the Company’s consolidated statement of operations for the year ended December 31, 2021 . The 23 hotels had a total carrying value of approximately $ 227.2 million at the time of sale. The following table lists the 23 hotels sold: City State Brand Date Sold Rooms Charlotte NC Homewood Suites 2/25/2021 118 Memphis TN Homewood Suites 3/16/2021 140 Overland Park KS SpringHill Suites 4/30/2021 102 Montgomery AL Hilton Garden Inn 7/22/2021 97 Montgomery AL Homewood Suites 7/22/2021 91 Rogers AR Residence Inn 7/22/2021 88 Phoenix AZ Courtyard 7/22/2021 127 Lakeland FL Courtyard 7/22/2021 78 Albany GA Fairfield 7/22/2021 87 Schaumburg IL Hilton Garden Inn 7/22/2021 166 Andover MA SpringHill Suites 7/22/2021 136 Fayetteville NC Residence Inn 7/22/2021 92 Greenville SC Residence Inn 7/22/2021 78 Jackson TN Hampton 7/22/2021 85 Johnson City TN Courtyard 7/22/2021 90 Allen TX Hampton 7/22/2021 103 Allen TX Hilton Garden Inn 7/22/2021 150 Beaumont TX Residence Inn 7/22/2021 133 Burleson/Fort Worth TX Hampton 7/22/2021 88 El Paso TX Hilton Garden Inn 7/22/2021 145 Irving TX Homewood Suites 7/22/2021 77 Richmond VA SpringHill Suites 7/22/2021 103 Vancouver WA SpringHill Suites 7/22/2021 119 Total 2,493 Excluding gains on sale of real estate, the Company’s consolidated statements of operations for the three months ended September 30, 2022 and 2021 include an operating income of approximately $ 0.1 million and $ 1.4 million, respectively, and for the nine months ended September 30, 2022 and 2021 include an operating income (loss) of approximately $ 0.3 million and $( 6.7 ) million, respectively, relating to the results of operations of the 24 hotels noted above (the one hotel sold in the first nine months of 2022 and the 23 hotels sold in 2021) for the period of ownership. The sale of these properties does not represent a strategic shift that has, or will have, a major effect on the Company’s operations and financial results, and therefore the operating results for the period of ownership of these properties are included in income from continuing operations for the three and nine months ended September 30, 2022 and 2021 . The net proceeds from the sale of the one hotel during the three and nine months ended September 30, 2022 were used for general corporate purposes, while the net proceeds from the sale of the 23 hotels in 2021 were used to pay down borrowings under the Company’s $ 425 million revolving credit facility and for general corporate purposes, including acquisitions of hotel properties. Loss on Impairment of Depreciable Real Estate Assets During the first quarter of 2021, the Company identified 20 hotels for potential sale and, in April 2021, entered into a purchase contract with an unrelated party for the sale of the hotels for a gross sales price of $ 211.0 million. As a result, the Company recognized impairment losses totaling approximately $ 9.4 million in the first quarter of 2021, to adjust the carrying values of four of these hotels to their estimated fair values. The fair values of these properties were based on broker opinions of value using multiple methods to determine their value, including but not limited to replacement value, discounted cash flows and the income approach based on historical and forecasted operating results of the specific properties. These valuations are Level 3 inputs under the fair value hierarchy. The Company completed the sale of the hotels in July 2021. Additionally, during the first quarter of 2021, the Company identified the Overland Park, Kansas SpringHill Suites for potential sale and, in February 2021, entered into a purchase contract with an unrelated party for the sale of the hotel for a gross sales price of $ 5.3 million. As a result, the Company recognized an impairment loss totaling approximately $ 1.3 million in the first quarter of 2021, to adjust the carrying value of the hotel to its estimated fair value less cost to sell, which was based on the contracted sales price, a Level 1 input under the fair value hierarchy. The Company completed the sale of the hotel in April 2021.

Debt

Debt	9 Months Ended
Debt	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	4. Debt Summary As of September 30, 2022 and December 31, 2021, the Company’s debt consisted of the following (in thousands): September 30, December 31, Revolving credit facility (1) $ - $ 76,000 Term loans and senior notes, net (1) 986,904 865,189 Mortgage debt, net 331,415 497,569 Debt, net $ 1,318,319 $ 1,438,758 (1) On July 25, 2022, the Company entered into an amendment and restatement of its $ 850 million credit facility (defined below), which among other things increased the borrowing capacity to $ 1.2 billion and extended the maturity dates. See the $1.2 Billion Credit Facility section below for details. The aggregate amounts of principal payable under the Company’s total debt obligations as of September 30, 2022 (including the Revolving Credit Facility (if any) (as defined below), term loans, senior notes and mortgage debt), for the remainder of this fiscal year, each of the next four fiscal years and thereafter are as follows (in thousands): 2022 (October - December) $ 2,587 2023 96,214 2024 113,597 2025 245,140 2026 74,649 Thereafter 794,616 1,326,803 Unamortized fair value adjustment of assumed debt 843 Unamortized debt issuance costs ( 9,327 ) Total $ 1,318,319 The Company uses interest rate swaps to manage its interest rate risk on a portion of its variable-rate debt. Throughout the terms of these interest rate swaps, the Company pays a fixed rate of interest and receives a floating rate of interest equal to the annual SOFR for a one-month term (“one-month SOFR”) plus a 0.10 % SOFR spread adjustment . The swaps are designed to effectively fix the interest payments on variable-rate debt instruments. See Note 5 for more information on the interest rate swap agreements. The Company’s total fixed-rate and variable-rate debt, after giving effect to its interest rate swaps in effect at September 30, 2022 and December 31, 2021, is set forth below. All dollar amounts are in thousands. September 30, Percentage December 31, Percentage Fixed-rate debt (1) $ 1,151,803 87 % $ 1,318,046 91 % Variable-rate debt 175,000 13 % 126,000 9 % Total $ 1,326,803 $ 1,444,046 Weighted-average interest rate of debt 3.72 % 3.38 % (1) Fixed-rate debt includes the portion of variable-rate debt where the interest payments have been effectively fixed by interest rate swaps as of the respective balance sheet date. See Note 5 for more information on the interest rate swap agreements. Credit Facilities $1.2 Billion Credit Facility Prior to July 2022, the Company utilized an unsecured credit facility comprised of (i) a $ 425 million revolving credit facility with an initial maturity date of July 27, 2022 (the " $ 425 million revolving credit facility") and (ii) a $ 425 million term loan facility consisting of two term loans: a $ 200 million term loan with a maturity date of July 27, 2023 , and a $ 225 million term loan with a maturity date of January 31, 2024 , both funded in July 2018 (collectively, the “$ 850 million credit facility”). On July 25, 2022, the Company entered into an amendment and restatement of its $ 850 million credit facility, which among other things, increased the borrowing capacity to $ 1.2 billion, extended the maturity dates, transitioned the reference rate from LIBOR to SOFR, reduced the margin rate for calculating interest rates and modified certain of the financial maintenance covenants (the “$1.2 billion credit facility”). The $ 1.2 billion credit facility is comprised of (i) a $ 650 million revolving credit facility with an initial maturity date of July 25, 2026 (the "Revolving Credit Facility"), (ii) a $ 275 million term loan with a maturity date of July 25, 2027 , funded at closing, and (iii) a $ 300 million term loan with a maturity date of Janu ary 31, 2028 ( including a $ 150 million delayed draw option until 180 days from closing), of which $ 200 million was funded at closing (the "$ 575 million term loan facility") . At closing, the Company repaid the outstanding $ 425 million term loans and $ 50 million outstanding under the $ 425 million revolving credit facility under the $ 850 million credit facility with proceeds from the $ 1.2 billion credit facility. Subject to certain conditions, including covenant compliance and additional fees, the Revolving Credit Facility maturity date may be extended up to one year. The credit agreement for the $ 1.2 billion credit facility contains mandatory prepayment requirements, customary affirmative and negative covenants (as described below), restrictions on certain investments and events of default, which are similar to the terms of the previous credit agreement for the $ 850 million credit facility. The Company may make voluntary prepayments, in whole or in part, at any time. Interest payments on the $ 1.2 billion credit facility are due monthly, and the interest rate, subject to certain exceptions, is equal to the one-month SOFR plus a 0.10 % SOFR spread adjustment plus a margin ranging from 1.35 % to 2.25 %, depending upon the Company’s leverage ratio, as calculated under the terms of the credit agreement. The Company is also required to pay quarterly an unused facility fee at an annual rate of 0.20 % or 0.25 % on the unused portion of the Revolving Credit Facility, based on the amount of borrowings outstanding during the quarter. A summary of the 2022 debt refinancing is set forth below. All dollar amounts are in thousands. 2022 Refinancing Prior to Refinancing Capacity Maturity Date Interest Rate Capacity Maturity Date Interest Rate (1) Revolving credit facility $ 650,000 7/25/2026 SOFR + 0.10 % + 1.40 % - 2.25 % $ 425,000 7/27/2022 LIBOR + 1.40 % - 2.25 % Term loan 275,000 7/25/2027 SOFR + 0.10 % + 1.35 % - 2.20 % 200,000 7/27/2023 LIBOR + 1.35 % - 2.20 % Term loan 300,000 1/31/2028 SOFR + 0.10 % + 1.35 % - 2.20 % 225,000 1/31/2024 LIBOR + 1.35 % - 2.20 % Total $ 1,225,000 $ 850,000 (1) Interest rates on all of the unsecured credit facilities increased to 0.15 % above the highest rate shown for each loan during the Extended Covenant Waiver Period (as defined below) from March 1, 2021 through July 28, 2021. $225 Million Term Loan Facility The Company also has an unsecured term loan facility that is comprised of (i) a $ 50 million term loan with a maturity date of August 2, 2023 , which was funded on August 2, 2018 , and (ii) a $ 175 million term loan with a maturity date of August 2, 2025 , of which $ 100 million was funded on August 2, 2018, and the remaining $ 75 million was funded on January 29, 2019 (the “$ 225 million term loan facility”) . The Company may make voluntary prepayments, in whole or in part, at any time, subject to certain conditions. Interest payments on the $ 225 million term loan facility are due monthly and the interest rate, subject to certain exceptions, is equal to an annual rate of the one-month SOFR plus a 0.10 % SOFR spread adjustment plus a margin ranging from 1.35 % to 2.50 %, depending upon the Company’s leverage ratio, as calculated under the terms of the credit agreement. In July 2022, this term loan was amended to align the financial covenants with the $ 1.2 billion credit facility and to replace the reference rate with SOFR. 2017 $85 Million Term Loan Facility On July 25, 2017, the Company entered into an unsecured term loan facility with a maturity date of July 25, 2024 , consisting of one term loan (the “2017 $85 million term loan facility”), that was fu nded at closing. The Company may make voluntary prepayments, in whole or in part, at any time, subject to certain conditions. Interest payments on the 2017 $ 85 million term loan facility are due monthly, and the interest rate, subject to certain exceptions, is equal to an annual rate of the one-month SOFR plus a 0.10 % SOFR spread adjustment plus a margin ranging from 1.30 % to 2.10 %, depending upon the Company’s leverage ratio, as calculated under the terms of the credit agreement. In July 2022, this term loan was amended to align the financial covenants with the $ 1.2 billion credit facility and to replace the reference rate with SOFR. 2019 $85 Million Term Loan Facility On December 31, 2019, the Company entered into an unsecured term loan facility with a maturity date of December 31, 2029 , consisting of one term loan funded at closing (the “2019 $ 85 million term loan facility”). Net proceeds from the 2019 $ 85 million term loan facility were used to pay down borrowings under the Company’s $ 425 million revolving credit f acility. The Company may make voluntary prepayments, in whole or in part, subject to certain conditions. Interest payments on the 2019 $ 85 milli on term loan facility are due monthly, and the interest rate, subject to certain exceptions, is equal to an annual rate of the one-month SOFR plus a 0.10 % SOFR spread adjustment plus a margin ranging from 1.70 % to 2.55 %, depending upon the Company’s leverage ratio, as calculated under the terms of the credit agreement. In July 2022, this term loan was amended to align the financial covenants with the $ 1.2 billion credit facility and to replace the reference rate with SOFR. $50 Million Senior Notes Facility On March 16, 2020, the Company entered into an unsecured senior notes facility with a maturity date of March 31, 2030 , consisting of senior notes totaling $ 50 million funded at closing (the “$ 50 million senior notes facility”). Net proceeds from the $ 50 million senior notes facility were available to provide funding for general corporate purposes. T he Company may make voluntary prepayments, in whole or in part, at any time, subject to certain conditions, including make-whole provisions. Interest payments on the $ 50 million senior notes facility are due quarterly, and the interest rate, subject to certain exceptions, ranges from an annual rate of 3.60 % to 4.35 % depending on the Company’s leverage ratio, as calculated under the terms of the note agreement. In July 2022, this notes facility was amended to align the financial covenants with the $ 1.2 billion credit facility. $75 Million Senior Notes Facility On June 2, 2022, the Company entered into an unsecured senior notes facility with a maturity date of June 2, 2029 , consisting of senior notes totaling $ 75 million funded at closing (the “$ 75 million senior notes facility”, and collectively with the $ 850 million credit facility and, after the amendments in July 2022, the $ 1.2 billion credit facility, the $ 225 million term loan facility, the 2017 $85 million term loan facility, the 2019 $85 million term loan facility and the $50 million senior notes facility, the “unsecured credit facilities”). Net proceeds from the $ 75 million senior notes facility were available to provide funding for general corporate purposes, including the repayment of borrowings under the Company’s $ 425 million revolving credit facility and repayment of mortgage debt. The Company may make voluntary prepayments, in whole or in part, at any time, subject to certain conditions, including make-whole provisions. Interest payments on the $ 75 million senior notes facility are due quarterly, and the interest rate, subject to certain exceptions, ranges from an annual rate of 4.88 % to 5.63 % depending on the Company’s leverage ratio, as calculated under the terms of the note agreement. In July 2022, this notes facility was amended to align the financial covenants with the $ 1.2 billion credit facility. As of September 30, 2022 and December 31, 2021, the details of the Company’s unsecured credit facilities were as set forth in the table below. All dollar amounts are in thousands. September 30, 2022 December 31, 2021 Origination Maturity Outstanding Balance Interest Rate (1) Outstanding Balance Interest Rate (2) Revolving credit facility (3) (4) 7/25/2022 7/25/2026 $ - SOFR + 0.10 % + 1.40 % - 2.25 % $ 76,000 LIBOR + 1.40 % - 2.25 % Term loans and senior notes $275 million term loan (4) 7/25/2022 7/25/2027 275,000 SOFR + 0.10 % + 1.35 % - 2.20 % - n/a $200 million term loan (4) 7/27/2018 repaid 7/25/22 - n/a 200,000 LIBOR + 1.35 % - 2.20 % $300 million term loan (4) 7/25/2022 1/31/2028 200,000 SOFR + 0.10 % + 1.35 % - 2.20 % - n/a $225 million term loan (4) 7/27/2018 repaid 7/25/22 - n/a 225,000 LIBOR + 1.35 % - 2.20 % $50 million term loan 8/2/2018 8/2/2023 50,000 SOFR + 0.10 % + 1.35 % - 2.20 % 50,000 LIBOR + 1.35 % - 2.20 % $175 million term loan 8/2/2018 8/2/2025 175,000 SOFR + 0.10 % + 1.65 % - 2.50 % 175,000 LIBOR + 1.65 % - 2.50 % 2017 $85 million term loan 7/25/2017 7/25/2024 85,000 SOFR + 0.10 % + 1.30 % - 2.10 % 85,000 LIBOR + 1.30 % - 2.10 % 2019 $85 million term loan 12/31/2019 12/31/2029 85,000 SOFR + 0.10 % + 1.70 % - 2.55 % 85,000 LIBOR + 1.70 % - 2.55 % $50 million senior notes 3/16/2020 3/31/2030 50,000 3.60 % - 4.35 % 50,000 3.60 % - 4.35 % $75 million senior notes 6/2/2022 6/2/2029 75,000 4.88 % - 5.63 % - n/a Term loans and senior notes at stated 995,000 870,000 Unamortized debt issuance costs ( 8,096 ) ( 4,811 ) Term loans and senior notes, net 986,904 865,189 Credit facilities, net (3) $ 986,904 $ 941,189 Weighted-average interest rate (5) 3.64 % 2.97 % (1) In July 2022, the Company amended each of its unsecured credit facilities to replace LIBOR with SOFR as the reference rate plus a 0.10 % SOFR spread adjustment. (2) Interest rates on all of the unsecured credit facilities increased to 0.15 % above the highest rate shown for each loan during the Extended Covenant Waiver Period (as defined below) from March 1, 2021 through July 28, 2021. (3) Excludes unamortized debt issuance costs related to the Revolving Credit Facility totaling approximately $ 5.1 million as of September 30, 2022 and related to the $ 425 million revolving credit facility totaling approximately $ 1.0 million as of December 31, 2021 , which are included in other assets, net in the Company’s consolidated balance sheets. (4) On July 25, 2022, the Company entered into an amendment and restatement of its $ 850 million credit facility, which among other things increased the borrowing capacity to $ 1.2 billion and extended the maturity dates. See the $ 1.2 Billion Credit Facility section above for details. (5) Interest rate represents the weighted-average effective annual interest rate at the balance sheet date which includes the effect of interest rate swaps in effect on $ 695.0 million and $ 770.0 million of the outstanding variable-rate debt as of September 30, 2022 and December 31, 2021, respectively. See Note 5 for more information on the interest rate swap agreements. The one-month SOFR at September 30, 2022 was 3.04 %. As of December 31, 2021 , the Company's interest rate swap agreements were based on the one-month LIBOR of 0.10 %. Credit Facilities Covenants The credit agreements governing the unsecured credit facilities (collectively, the “credit agreements”) contain mandatory prepayment requirements, customary affirmative and negative covenants, restrictions on certain investments and events of default. After giving effect to the July 2022 amendments, the credit agreements contain the following financial and restrictive covenants (capitalized terms not defined below are defined in the credit agreements): • A ratio of Consolidated Total Indebtedness to Consolidated EBITDA (“Maximum Consolidated Leverage Ratio”) of not more than 7.25 to 1.00; • A ratio of Consolidated Secured Indebtedness to Consolidated Total Assets (“Maximum Secured Leverage Ratio”) of not more than 45 %; • A minimum Consolidated Tangible Net Worth of approximately $ 3.4 billion plus an amount equal to 75 % of the Net Cash Proceeds from issuances and sales of Equity Interests occurring after the Closing Date, July 25, 2022, subject to adjustment; • A ratio of Adjusted Consolidated EBITDA to Consolidated Fixed Charges ("Minimum Fixed Charge Coverage Ratio") of not less than 1.50 to 1.00 for the trailing four full quarters; • A ratio of Unencumbered Adjusted NOI to Consolidated Implied Interest Expense for Consolidated Unsecured Indebtedness ("Minimum Unsecured Interest Coverage Ratio") of not less than 2.00 to 1.00 for the trailing four full quarters; • A ratio of Consolidated Unsecured Indebtedness to Unencumbered Asset Value (“Maximum Unsecured Leverage Ratio”) of not more than 60 % (subject to a higher level in certain circumstances); and • A ratio of Consolidated Secured Recourse Indebtedness to Consolidated Total Assets (“Maximum Secured Recourse Indebtedness”) of not more than 10 %. The Company was in compliance with the applicable covenants at September 30, 2022. Prior Amendments to Credit Agreements As a result of COVID-19 and the associated disruption to the Company’s operating results, the Company first entered into amendments in June 2020 that suspended the testing of the Company’s financial maintenance covenants under the unsecured credit facilities and imposed certain restrictions regarding the Company's investing and financing activities. Further amendments were entered into in March 2021 (the “March 2021 amendments”), extending the majority of the covenant waivers until the date that the compliance certificate was required to be delivered for the fiscal quarter ended June 30, 2022 (unless the Company elected an earlier date) (the “Extended Covenant Waiver Period”). The March 2021 amendments imposed several modifications and restrictions during the Extended Covenant Waiver Period, including continued cash distribution restrictions, except for the payment of cash dividends of $ 0.01 per common share per quarter or to the extent required to maintain REIT status, modification of the previous operating restrictions to less restrictive levels, changes to the calculation of the financial maintenance covenants upon exiting the Extended Covenant Waiver Period, and an increase in the LIBOR floor and establishment of a Base Rate (as defined in the credit agreements) floor under the $ 425 million revolving credit facility. In July 2021, the Company notified its lenders under its unsecured credit facilities that it had elected to exit the Extended Covenant Waiver Period early, effective on July 29, 2021 pursuant to the terms of each of its unsecured credit facilities. The unsecured credit facilities do not provide the Company the ability to re-enter the Extended Covenant Waiver Period once it has elected to exit. Upon exiting the Extended Covenant Waiver Period, the Company was no longer subject to the restrictions regarding its investing and financing activities that were applicable during the Extended Covenant Waiver Period, including, but not limited to, limitations on the acquisition of property, payment of distributions to shareholders ( except for the payment of cash dividends of $ 0.01 per common share per quarter or to the extent required to maintain REIT status ), capital expenditures and use of proceeds from the sale of property or common shares of the Company. Those restrictions, including the restriction on payment of distributions to shareholders, were still in place throughout the second quarter of 2021. Mortgage Debt As of September 30, 2022, the Company had approximately $ 331.8 million in outstanding mortgage debt secured by 19 properties with maturity dates ranging from February 2023 to May 2038, stated interest rates ranging from 3.40 % to 4.46 % and effective interest rates ranging from 3.40 % to 4.68 %. The loans generally provide for monthly payments of principal and interest on an amortized basis and defeasance or prepayment penalties if prepaid. The following table sets forth the hotel properties securing each loan, the interest rate, loan assumption or origination date, maturity date, the principal amount assumed or originated, and the outstanding balance prior to any fair value adjustments or debt issuance costs as of September 30, 2022 and December 31, 2021 for each of the Company’s mortgage debt obligations. All dollar amounts are in thousands. Location Brand Interest (1) Loan Maturity Principal Outstanding Outstanding Seattle, WA (2) 4.00 % 8/16/2021 (4) $ 56,000 $ - $ 56,000 Grapevine, TX Hilton Garden Inn 4.89 % 8/29/2012 (5) 11,810 - 9,075 Collegeville/Philadelphia, PA Courtyard 4.89 % 8/30/2012 (5) 12,650 - 9,720 Hattiesburg, MS Courtyard 5.00 % 3/1/2014 (5) 5,732 - 4,550 Kirkland, WA Courtyard 5.00 % 3/1/2014 (5) 12,145 - 9,640 Rancho Bernardo/San Diego, CA Courtyard 5.00 % 3/1/2014 (5) 15,060 - 11,954 Seattle, WA Residence Inn 4.96 % 3/1/2014 (5) 28,269 - 22,412 Anchorage, AK Embassy Suites 4.97 % 9/13/2012 (6) 23,230 - 17,959 Somerset, NJ Courtyard 4.73 % 3/1/2014 (6) 8,750 - 6,903 Tukwila, WA Homewood Suites 4.73 % 3/1/2014 (6) 9,431 - 7,440 Huntsville, AL Homewood Suites 4.12 % 3/1/2014 2/6/2023 8,306 6,264 6,473 Prattville, AL Courtyard 4.12 % 3/1/2014 2/6/2023 6,596 4,975 5,141 San Diego, CA Residence Inn 3.97 % 3/1/2014 3/6/2023 18,600 13,987 14,456 Miami, FL Homewood Suites 4.02 % 3/1/2014 4/1/2023 16,677 12,582 13,000 New Orleans, LA Homewood Suites 4.36 % 7/17/2014 8/11/2024 27,000 21,370 21,981 Westford, MA Residence Inn 4.28 % 3/18/2015 4/11/2025 10,000 8,099 8,320 Denver, CO Hilton Garden Inn 4.46 % 9/1/2016 6/11/2025 34,118 28,659 29,415 Oceanside, CA Courtyard 4.28 % 9/1/2016 10/1/2025 13,655 12,095 12,318 Omaha, NE Hilton Garden Inn 4.28 % 9/1/2016 10/1/2025 22,681 20,090 20,460 Boise, ID Hampton 4.37 % 5/26/2016 6/11/2026 24,000 21,318 21,680 Burbank, CA Courtyard 3.55 % 11/3/2016 12/1/2026 25,564 21,522 22,098 San Diego, CA Courtyard 3.55 % 11/3/2016 12/1/2026 25,473 21,445 22,019 San Diego, CA Hampton 3.55 % 11/3/2016 12/1/2026 18,963 15,964 16,392 Burbank, CA SpringHill Suites 3.94 % 3/9/2018 4/1/2028 28,470 25,256 25,845 Santa Ana, CA Courtyard 3.94 % 3/9/2018 4/1/2028 15,530 13,777 14,098 Richmond, VA Courtyard 3.40 % 2/12/2020 3/11/2030 14,950 14,222 14,447 Richmond, VA Residence Inn 3.40 % 2/12/2020 3/11/2030 14,950 14,222 14,447 Portland, ME (3) Residence Inn 3.43 % 3/2/2020 3/1/2032 33,500 30,500 33,500 San Jose, CA Homewood Suites 4.22 % 12/22/2017 5/1/2038 30,000 25,456 26,303 $ 572,110 331,803 498,046 Unamortized fair value adjustment of 843 1,010 Unamortized debt issuance costs ( 1,231 ) ( 1,487 ) Total $ 331,415 $ 497,569 (1) Interest rates are the rates per the loan agreement. For loans assumed, the Company adjusted the interest rates per the loan agreement to market rates and is amortizing the adjustments to interest expense over the life of the loan. (2) On August 16, 2021, the Company acquired the fee interest in the land at the Seattle, Washington Residence Inn, previously held under a finance ground lease, for a purchase price of $ 80.0 million, consisting of a $ 24.0 million cash payment and a one-year note payable to the seller for $ 56.0 million. (3) Loan was amended effective March 1, 2022, in conjunction with a $ 3.0 million prepayment of loan principal. In addition, the maturity date of the loan was extended by two years to March 1, 2032 . (4) Loan was repaid in full on June 16, 2022. (5) Loans were repaid in full on June 30, 2022. (6) Loans were repaid in full on August 1, 2022.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
Fair Value of Financial Instruments	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	5. Fair Value of Financial Instruments Except as described below, the carrying value of the Company’s financial instruments approximates fair value due to the short-term nature of these financial instruments. Debt The Company estimates the fair value of its debt by discounting the future cash flows of each instrument at estimated market rates consistent with the maturity of a debt obligation with similar credit terms and credit characteristics, which are Level 3 inputs under the fair value hierarchy. Market rates take into consideration general market conditions and maturity. As of September 30, 2022, both the carrying value and estimated fair value of the Company’s debt were approximately $ 1.3 billion . As of December 31, 2021, both the carrying value and estimated fair value of the Company’s debt were approximately $ 1.4 billion. Both the carrying value and estimated fair value of the Company’s debt (as discussed above) are net of unamortized debt issuance costs related to term loans, senior notes and mortgage debt for each specific year. Derivative Instruments Currently, the Company uses interest rate swaps to manage its interest rate risk on variable-rate debt. Throughout the terms of these interest rate swaps, the Company pays a fixed rate of interest and receives a floating rate of interest equal to the one-month SOFR plus a 0.10 % SOFR spread adjustment . The swaps are designed to effectively fix the interest payments on variable-rate debt instruments. As discussed in Note 1, the Company entered into amendments of its swap agreements during July 2022, to replace LIBOR with SOFR. These swap instruments are recorded at fair value and, if in an asset position, are included in other assets, net, and, if in a liability position, are included in accounts payable and other liabilities in the Company’s consolidated balance sheets. The fair values of the Company’s interest rate swap agreements are determined using the market standard methodology of netting the discounted future fixed cash payments and the discounted expected variable cash receipts, which is considered a Level 2 measurement under the fair value hierarchy. The variable cash receipts are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. The following table sets forth information for each of the Company’s interest rate swap agreements outstanding as of September 30, 2022 and December 31, 2021. All dollar amounts are in thousands. Fair Value Asset (Liability) Notional Amount at Origination Effective Maturity Swap Fixed (1) Swap Fixed (1) September 30, December 31, Active interest rate swaps designated as cash flow hedges at September 30, 2022: $ 100,000 4/7/2016 9/30/2016 3/31/2023 1.30 % 1.33 % $ 1,357 $ ( 955 ) 75,000 5/31/2017 7/31/2017 6/30/2024 1.95 % 1.96 % 2,960 ( 1,902 ) 10,000 8/10/2017 8/10/2017 6/30/2024 2.02 % 2.01 % 380 ( 268 ) 50,000 6/1/2018 1/31/2019 6/30/2025 2.88 % 2.89 % 1,589 ( 3,123 ) 50,000 7/2/2019 7/5/2019 7/18/2024 1.64 % 1.65 % 2,274 ( 894 ) 50,000 8/21/2019 8/23/2019 8/18/2024 1.31 % 1.32 % 2,688 ( 457 ) 50,000 8/21/2019 8/23/2019 8/30/2024 1.32 % 1.32 % 2,719 ( 455 ) 85,000 12/31/2019 12/31/2019 12/31/2029 1.87 % 1.86 % 10,200 ( 3,277 ) 25,000 12/6/2018 1/31/2020 6/30/2025 2.74 % 2.75 % 884 ( 1,442 ) 50,000 12/7/2018 5/18/2020 1/31/2024 2.71 % 2.72 % 1,040 ( 1,965 ) 75,000 8/21/2019 5/18/2020 5/18/2025 1.26 % 1.27 % 5,395 ( 458 ) 75,000 8/21/2019 5/18/2021 5/18/2026 1.29 % 1.30 % 6,868 ( 391 ) 695,000 38,354 ( 15,587 ) Matured interest rate swap at September 30, 2022: $ 75,000 7/31/2020 8/18/2020 8/18/2022 - 0.13 % - 79 $ 38,354 $ ( 15,508 ) (1) The fixed interest rate associated with each interest rate swap was amended in July 2022 as part of the swap amendments to replace LIBOR with SOFR as the reference rate. The Company assesses, both at inception and on an ongoing basis, the effectiveness of its qualifying cash flow hedges. As of September 30, 2022, all of the 12 active interest rate swap agreements listed above were designated as cash flow hedges. The change in the fair value of the Company’s designated cash flow hedges is recorded to accumulated other comprehensive income, a component of shareholders’ equity in the Company’s consolidated balance sheets. Amounts reported in accumulated other comprehensive income will be reclassified to interest and other expense, net as interest payments are made or received on the Company’s variable-rate derivatives. The Company estimates that approximately $ 15.7 million of net unrealized gains included in accumulated other comprehensive income at September 30, 2022 will be reclassified as a decrease to interest and other expense, net within the next 12 months. The following table presents the effect of derivative instruments in cash flow hedging relationships in the Company’s consolidated statements of operations and comprehensive income for the three and nine months ended September 30, 2022 and 2021 (in thousands): Net Unrealized Gain Net Unrealized Gain (Loss) Reclassified Three Months Ended September 30, Three Months Ended September 30, 2022 2021 2022 2021 Interest rate derivatives in cash flow $ 17,130 $ 478 $ 1,106 $ ( 2,948 ) Net Unrealized Gain Net Unrealized Loss Reclassified Nine Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Interest rate derivatives in cash flow $ 50,649 $ 9,714 $ ( 3,213 ) $ ( 8,438 )

Related Parties

Related Parties	9 Months Ended
Related Parties	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Parties	6. Related Parties The Company has engaged in, and is expected to continue to engage in, transactions with related parties. These transactions cannot be construed to be at arm’s length, and the results of the Company’s operations may be different if these transactions were conducted with non-related parties. There have been no changes to the contracts and relationships discussed in the 2021 Form 10-K. Below is a summary of the significant related party relationships in effect during the nine months ended September 30, 2022 and 2021. Glade M. Knight, Executive Chairman of the Company, owns Apple Realty Group, Inc. (“ARG”), which receives support services from the Company and reimburses the Company for the cost of these services as discussed below. Mr. Knight is also currently a partner and Chief Executive Officer of Energy 11 GP, LLC and Energy Resources 12 GP, LLC, which are the respective general partners of Energy 11, L.P. and Energy Resources 12, L.P., each of which receives support services from ARG. The Company provides support services, including the use of the Company’s employees and corporate office, to ARG and is reimbursed by ARG for the cost of these services. Under this cost sharing structure, amounts reimbursed to the Company include both compensation for personnel and office related costs (including office rent, utilities, office supplies, etc.) used by ARG. The amounts reimbursed to the Company are based on the actual costs of the services and a good faith estimate of the proportionate amount of time incurred by the Company’s employees on behalf of ARG. Total reimbursed costs allocated by the Company to ARG for the nine months ended September 30, 2022 and 2021 totaled approximately $ 0.6 million and $ 0.5 million, respectively, and are recorded as a reduction to general and administrative expenses in the Company’s consolidated statements of operations. As part of the cost sharing arrangement, certain day-to-day transactions may result in amounts due to or from the Company and ARG. To efficiently manage cash disbursements, the Company or ARG may make payments for the other company. Under this cash management process, each company may advance or defer up to $ 1 million at any time. Each quarter, any outstanding amounts are settled between the companies. This process allows each company to minimize its cash on hand and reduces the cost for each company. The amounts outstanding at any point in time are not significant to either of the companies. As of September 30, 2022 and December 31, 2021 , total amounts due from ARG for reimbursements under the cost sharing structure totaled approximately $ 0.2 million and $ 0.3 million, respectively, and are included in other assets, net in the Company’s consolidated balance sheets. The Company, through its wholly-owned subsidiary, Apple Air Holding, LLC, owns a Learjet used primarily for acquisition, asset management, renovation, investor, corporate and public relations and other business purposes. The aircraft is also leased to affiliates of the Company based on third-party rates. Lease activity was not significant during the reporting periods. From time to time, the Company utilizes aircraft, owned by an entity which is owned by the Company’s Executive Chairman, for acquisition, asset management, renovation, investor, corporate and public relations and other business purposes, and reimburses this entity at third party rates. Total costs incurred for the use of these aircraft during the nine months ended September 30, 2022 and 2021 were less than $ 0.1 million and are included in general and administrative expenses in the Company’s consolidated statements of operations.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
Shareholders' Equity	Sep. 30, 2022
Stockholders Equity Note [Abstract]
Shareholders' Equity	7. Shareholders’ Equity Distributions For the three and nine months ended September 30, 2022 , the Company paid distributions of $ 0.17 and $ 0.38 , respectively, per common share for a total of $ 38.8 million and $ 86.8 million, respectively. During the three and nine months ended September 30, 2021 , the Company paid distributions of $ 0.01 and $ 0.02 , respectively, per common share for a total of $ 2.3 million and $ 4.5 million, respectively. Additionally, in September 2022 , the Company declared a monthly cash distribution of $ 0.07 per common share, totaling $ 16.0 million, which was recorded as a payable as of September 30, 2022 and paid on October 17, 2022 . As of December 31, 2021, a quarterly distribution of $ 0.01 per common share declared in December 2021 totaled $ 2.3 million and was paid on January 18, 2022. These accrued distributions were included in accounts payable and other liabilities in the Company’s consolidated balance sheets as of September 30, 2022 and December 31, 2021, respectively. Issuance of Shares The Company has entered into an equity distribution agreement pursuant to which the Company may sell, from time to time, up to an aggregate of $ 300 million of its common shares under an at-the-market offering program (the “ATM Program”). Since inception of the ATM Program in August 2020 through September 30, 2022 , the Company has sold approximately 4.7 million common shares at a weighted-average market sales price of approximately $ 16.26 per common share and received aggregate gross proceeds of approximately $ 76.0 million and proceeds net of offering costs, which included $ 0.9 million of commissions, of approximately $ 75.1 million. The Company used the net proceeds from the sale of these shares to pay down borrowings under its $ 425 million revolving credit facility and for general corporate purposes, including acquisitions of hotel properties. As of September 30, 2022 , approximately $ 224.0 million remained available for issuance under the ATM Program. No shares were sold under the Company’s ATM Program in the nine months ended September 30, 2022. The Company plans to use future net proceeds from the sale of shares under the ATM Program for general corporate purposes which may include, among other things, acquisitions of additional properties, the repayment of outstanding indebtedness, capital expenditures, improvement of properties in its portfolio and working capital. The Company may also use the net proceeds to acquire another REIT or other company that invests in income producing properties. Share Repurchases In May 2022, the Company’s Board of Directors approved a one-year extension of its existing share repurchase program, authorizing share repurchases up to an aggregate of $ 345 million (the “Share Repurchase Program”). The Share Repurchase Program may be suspended or terminated at any time by the Company and will end in July 2023 if not terminated or extended earlier. During the nine months ended September 30, 2022 , the Company purchased, under its Share Repurchase Program, 0.1 million of its common shares at a weighted-average market purchase price of approximately $ 14.20 per common share for an aggregate purchase price, including commissions, of approximately $ 1.5 million. The shares were repurchased under a written trading plan as part of the Share Repurchase Program that provides for share repurchases in open market transactions and that is intended to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Repurchases under the Share Repurchase Program have been funded, and the Company intends to fund future repurchases, with cash on hand or availability under its Revolving Credit Facility, subject to applicable restrictions under the Company’s unsecured credit facilities (if any). The timing of share repurchases and the number of common shares to be repurchased under the Share Repurchase Program will also depend upon the prevailing market conditions, regulatory requirements and other factors. As of September 30, 2022 , approximately $ 343.5 million remained available for purchase under the Share Repurchase Program.

Compensation Plans

Compensation Plans	9 Months Ended
Compensation Plans	Sep. 30, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Compensation Plans	8. Compensation Plans The Company annually establishes an incentive plan for its executive management team. Under the incentive plan for 2022 (the “2022 Incentive Plan”), participants are eligible to receive incentive compensation based on the achievement of certain 2022 performance measures, with one-half ( 50 %) of incentive compensation based on operational performance goals and metrics and one-half ( 50 %) of incentive compensation based on shareholder return metrics. With respect to the shareholder return metrics, 75 % of the target will be based on shareholder return relative to a peer group and 25 % will be based on total shareholder return metrics over one-year, two-year, and three-year periods. With respect to the operational performance goals and metrics, 25 % of the target will be based on modified funds from operations per share (as defined within this Quarterly Report on Form 10-Q) and 75 % of the target will be based on operational performance goals including: management of capital structure; environmental, social and governance goals; evaluation and pursuit of accretive transactions; effective execution of capital renovation plans; and management of operating expenses to maximize Adjusted Hotel EBITDA (as defined within this Quarterly Report on Form 10-Q). At September 30, 2022, the range of potential aggregate payouts under the 2022 Incentive Plan was $ 0 - $ 25 million. Based on performance through September 30, 2022 , the Company has accrued approximately $ 12.0 million as a liability for potential executive incentive compensation payments under the 2022 Incentive Plan, which is included in accounts payable and other liabilities in the Company’s consolidated balance sheet as of September 30, 2022 . Compensation expense recognized by the Company under the 2022 Incentive Plan is included in general and administrative expenses in the Company’s consolidated statement of operations and totaled approximately $ 4.0 million and $ 12.0 million for the three and nine months ended September 30, 2022 , respectively. Approximately 25 % of target awards under the 2022 Incentive Plan, if any, will be paid in cash, and 75 % will be issued in common shares under the Company’s 2014 Omnibus Incentive Plan, approximately two-thirds of which will be unrestricted and one-third of which will vest in December 2023. Under the incentive plan for 2021 (the “2021 Incentive Plan”), the Company recorded approximately $ 7.0 million and $ 13.0 million in general and administrative expenses in its consolidated statement of operations for the three and nine months ended September 30, 2021, respectively. Share-Based Compensation Awards The following table sets forth information pertaining to the share-based compensation issued under the 2021 Incentive Plan and the incentive plan for 2020 (the “2020 Incentive Plan”). 2021 Incentive 2020 Incentive Period common shares issued First Quarter 2022 First Quarter 2021 Common shares earned under each incentive plan 868,079 555,726 Common shares surrendered on issuance date to 245,597 117,647 Common shares earned and issued under each 622,482 438,079 Closing stock price on issuance date $ 17.79 $ 14.03 Total share-based compensation earned, including the $ 15.4 (1) $ 7.8 (2) Of the total common shares earned and issued, total 338,032 160,216 Of the total common shares earned and issued, total 284,450 277,863 Restricted common shares vesting date December 9, 2022 December 10, 2021 Common shares surrendered on vesting date to satisfy n/a 108,292 (1) Of the total 2021 share-based compensation, approximately $ 12.9 million was recorded as a liability as of December 31, 2021 and is included in accounts payable and other liabilities in the Company’s consolidated balance sheet at December 31, 2021 . The remaining $ 2.5 million, which is subject to vesting on December 9, 2022 and excludes any restricted shares forfeited or vested prior to that date, will be recognized as share-based compensation expense proportionately throughout 2022. For the three and nine months ended September 30, 2022 , the Company recognized approximately $ 0.6 million and $ 1.9 million, respectively, of share-based compensation expense related to restricted share awards. (2) Of the total 2020 share-based compensation, approximately $ 1.9 million, which vested on December 10, 2021, was recognized as share-based compensation expense proportionately throughout 2021. For the three and nine months ended September 30, 2021 , the Company recognized approximately $ 0.5 million and $ 1.5 million, respectively, of share-based compensation expense related to restricted share awards.

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	9. Subsequent Events On October 17, 2022, the Company paid approximately $ 16.0 million, or $ 0.07 per common share, in distributions to shareholders of record as of October 4, 2022 . In October 2022 , the Company declared a monthly cash distribution of $ 0.08 per common share for the month of November 2022. The distribution is payable on November 15, 2022 , to shareholders of record as of November 2, 2022 . On October 25, 2022, the Company completed the purchase of the existing 156 -room AC Hotel in Louisville, Kentucky and the 134 -room AC Hotel in Pittsburgh, Pennsylvania for a total combined gross purchase price of approximately $ 85 million. The Company utilized its available cash on hand and a $ 50 million draw on its $ 575 million term loan facility to purchase the hotels. After this transaction, the $ 575 million term loan facility had $ 50 million of remaining available capacity on its delayed draw option.

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Organization	Organization Apple Hospitality REIT, Inc., formed in November 2007 as a Virginia corporation, together with its wholly-owned subsidiaries (the “Company”), is a self-advised real estate investment trust (“REIT”) that invests in income-producing real estate, primarily in the lodging sector, in the United States (“U.S.”). The Company’s fiscal year end is December 31. The Company has no foreign operations or assets, and its operating structure includes only one reportable segment. The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated. Although the Company has interests in potential variable interest entities through its purchase commitments, it is not the primary beneficiary as the Company does not have any elements of power in the decision-making process of these entities, and therefore does not consolidate the entities. As of September 30, 2022, the Company owned 218 hotels with an aggregate of 28,693 rooms located in 36 states. The Company’s common shares are listed on the New York Stock Exchange (“NYSE”) under the ticker symbol “APLE.”
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with the rules and regulations for reporting on Form 10-Q. Accordingly, they do not include all of the information required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. These unaudited financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2021 (the “2021 Form 10-K”). Operating results for the three and nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for the twelve-month period ending December 31, 2022 .
Use of Estimates	Use of Estimates The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Coronavirus COVID-19 Pandemic	Coronavirus COVID-19 Pandemic As a result of the coronavirus COVID-19 pandemic (“COVID-19”) and subsequent variants and the impact it has had on travel and the broader economy throughout the U.S. since March 2020, the Company’s hotels experienced significant declines in occupancy in 2020 and 2021 relative to 2019 levels. While occupancy has largely recovered to 2019 pre-pandemic levels, due to the continued impacts from the COVID-19 variants on the hotel industry and the general economy, there remains uncertainty as to when operations at the hotels will fully return to pre-pandemic levels on a sustained basis.
Net Income Per Common Share	Net Income Per Common Share Basic net income per common share is computed based upon the weighted average number of shares outstanding during the period. Diluted net income per common share is calculated after giving effect to all potential common shares that were dilutive and outstanding for the period. Basic and diluted net income per common share were the same for each of the periods presented.
Accounting Standards Recently Adopted	Accounting Standards Recently Adopted Reference Rate Reform In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2020-04, Reference Rate Reform (Topic 848) , which provides optional guidance through December 31, 2022 to ease the potential burden in accounting for, or recognizing the effects of, reference rate reform on financial reporting. In January 2021, the FASB issued 2021-01, Reference Rate Reform (Topic 848), Scope, which further clarified the scope of the reference rate reform optional practical expedients and exceptions outlined in Topic 848. The amendments in ASU Nos. 2020-04 and 2021-01 apply to contract modifications that replace a reference rate affected by reference rate reform, providing optional expedients regarding the measurement of hedge effectiveness in hedging relationships that have been modified to replace a reference rate. The guidance in ASU Nos. 2020-04 and 2021-01 became effective upon issuance and the provisions of the ASUs have not had a material impact on the Company’s consolidated financial statements and related disclosures as of September 30, 2022. The provisions of these updates will generally affect the Company by allowing, among other things, the following: • Modifications of the Company’s unsecured credit facilities (as defined below) to replace the London Interbank Offered Rate (“LIBOR”) with a substitute index to be accounted for as a non-substantial modification and not considered a debt extinguishment. • Changes to the floating interest rate index used in the Company’s interest rate swaps to not be considered a change to the critical terms of the hedge and therefore not requiring a dedesignation of the hedging relationship. In July 2022, the Company amended each of its unsecured credit facilities and interest rate swap agreements to replace LIBOR with the Secured Overnight Financing Rate (“SOFR”) as the reference rate. In accordance with ASU 2020-04, as amended, these amendments were accounted for as non-substantial modifications. See Notes 4 and 5 for more information regarding amendments made to the Company’s unsecured credit facilities and interest rate swap agreements. Accounting for Certain Equity Options In May 2021, the FASB issued ASU No. 2021-04, Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (Topics 260, 470, 718 and 815) , which provides updated guidance to clarify and reduce diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options that remain equity classified after modification or exchange. The provisions of this update are effective for annual and interim periods beginning after December 15, 2021. The adoption of this update is not material to the Company’s consolidated financial statements. Accounting for Funds Received as Government Assistance In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832) to increase the transparency of government assistance disclosures including the disclosure of (1) the types of assistance, (2) an entity’s accounting for the assistance, and (3) the effect of the assistance on an entity’s financial statements. The provisions of this update are effective for annual periods beginning after December 15, 2021. The adoption of this update is not expected to have a material impact on the Company’s consolidated financial statements.

Investment in Real Estate (Tabl

Investment in Real Estate (Tables)	9 Months Ended
Investment in Real Estate (Tables)	Sep. 30, 2022
Real Estate [Abstract]
Schedule of Investment in Real Estate	The Company’s investment in real estate consisted of the following (in thousands): September 30, December 31, 2022 2021 Land $ 794,317 $ 794,899 Building and improvements 4,593,388 4,584,829 Furniture, fixtures and equipment 505,065 488,773 Finance ground lease assets 102,084 102,084 Franchise fees 18,367 17,862 6,013,221 5,988,447 Less accumulated depreciation and amortization ( 1,446,221 ) ( 1,311,262 ) Investment in real estate, net $ 4,567,000 $ 4,677,185
Schedule of Hotel Acquisitions	During the year ended December 31, 2021 , the Company acquired eight hotels, including four hotels during the nine months ended September 30, 2021. The following table sets forth the location, brand, manager, date acquired, number of rooms and gross purchase price, excluding transaction costs, for each hotel. All dollar amounts are in thousands. City State Brand Manager Date Rooms Gross Madison WI Hilton Garden Inn Raymond 2/18/2021 176 $ 49,599 Portland ME AC Hotels Crestline 8/20/2021 178 66,750 Greenville SC Hyatt Place Crestline 9/1/2021 130 30,000 Portland ME Aloft Crestline 9/10/2021 157 51,150 Memphis TN Hilton Garden Inn Crestline 10/28/2021 150 38,000 Fort Worth TX Hilton Garden Inn Raymond 11/17/2021 157 29,500 Fort Worth TX Homewood Suites Raymond 11/17/2021 112 21,500 Portland OR Hampton Raymond 11/17/2021 243 75,000 1,303 $ 361,499
Schedule of Purchase Contract Outstanding	The following table summarizes the location, brand, date of purchase contract, expected number of rooms, refundable (if the seller does not meet its obligations under the contract) deposits paid, and gross purchase price for each of the contracts outstanding at September 30, 2022. All dollar amounts are in thousands. Location Brands Date of Rooms Refundable Gross Madison, WI (1) Embassy Suites 7/27/2021 260 $ 893 $ 78,598 Louisville, KY (2) AC Hotels 9/8/2022 156 750 51,000 Pittsburgh, PA (2) AC Hotels 9/8/2022 134 500 34,000 550 $ 2,143 $ 163,598 (1) This hotel is currently under development. The table shows the expected number of rooms upon hotel completion and the expected franchise brand. Assuming all conditions to closing are met, the purchase of this hotel is expected to occur in early 2024. If the seller meets all of the conditions to closing, the Company is obligated to specifically perform under the contract. As this property is under development, at this time, the seller has not met all of the conditions to closing. (2) The Company completed the purchase of these hotels in October 2022. See Note 9 for additional information concerning these two acquisitions.

Dispositions (Tables)

Dispositions (Tables)	9 Months Ended
Dispositions (Tables)	Sep. 30, 2022
Discontinued Operations And Disposal Groups [Abstract]
Schedule of Hotels Sold	City State Brand Date Sold Rooms Charlotte NC Homewood Suites 2/25/2021 118 Memphis TN Homewood Suites 3/16/2021 140 Overland Park KS SpringHill Suites 4/30/2021 102 Montgomery AL Hilton Garden Inn 7/22/2021 97 Montgomery AL Homewood Suites 7/22/2021 91 Rogers AR Residence Inn 7/22/2021 88 Phoenix AZ Courtyard 7/22/2021 127 Lakeland FL Courtyard 7/22/2021 78 Albany GA Fairfield 7/22/2021 87 Schaumburg IL Hilton Garden Inn 7/22/2021 166 Andover MA SpringHill Suites 7/22/2021 136 Fayetteville NC Residence Inn 7/22/2021 92 Greenville SC Residence Inn 7/22/2021 78 Jackson TN Hampton 7/22/2021 85 Johnson City TN Courtyard 7/22/2021 90 Allen TX Hampton 7/22/2021 103 Allen TX Hilton Garden Inn 7/22/2021 150 Beaumont TX Residence Inn 7/22/2021 133 Burleson/Fort Worth TX Hampton 7/22/2021 88 El Paso TX Hilton Garden Inn 7/22/2021 145 Irving TX Homewood Suites 7/22/2021 77 Richmond VA SpringHill Suites 7/22/2021 103 Vancouver WA SpringHill Suites 7/22/2021 119 Total 2,493

Debt (Tables)

Debt (Tables)	9 Months Ended
Debt (Tables)	Sep. 30, 2022
Debt Tables [Line Items]
Schedule of Future Minimum Debt Payments	The aggregate amounts of principal payable under the Company’s total debt obligations as of September 30, 2022 (including the Revolving Credit Facility (if any) (as defined below), term loans, senior notes and mortgage debt), for the remainder of this fiscal year, each of the next four fiscal years and thereafter are as follows (in thousands): 2022 (October - December) $ 2,587 2023 96,214 2024 113,597 2025 245,140 2026 74,649 Thereafter 794,616 1,326,803 Unamortized fair value adjustment of assumed debt 843 Unamortized debt issuance costs ( 9,327 ) Total $ 1,318,319
Schedule of Total Fixed-Rate and Variable Rate Debt	The Company uses interest rate swaps to manage its interest rate risk on a portion of its variable-rate debt. Throughout the terms of these interest rate swaps, the Company pays a fixed rate of interest and receives a floating rate of interest equal to the annual SOFR for a one-month term (“one-month SOFR”) plus a 0.10 % SOFR spread adjustment . The swaps are designed to effectively fix the interest payments on variable-rate debt instruments. See Note 5 for more information on the interest rate swap agreements. The Company’s total fixed-rate and variable-rate debt, after giving effect to its interest rate swaps in effect at September 30, 2022 and December 31, 2021, is set forth below. All dollar amounts are in thousands. September 30, Percentage December 31, Percentage Fixed-rate debt (1) $ 1,151,803 87 % $ 1,318,046 91 % Variable-rate debt 175,000 13 % 126,000 9 % Total $ 1,326,803 $ 1,444,046 Weighted-average interest rate of debt 3.72 % 3.38 % (1) Fixed-rate debt includes the portion of variable-rate debt where the interest payments have been effectively fixed by interest rate swaps as of the respective balance sheet date. See Note 5 for more information on the interest rate swap agreements.
Summary of Debt Refinancing	A summary of the 2022 debt refinancing is set forth below. All dollar amounts are in thousands. 2022 Refinancing Prior to Refinancing Capacity Maturity Date Interest Rate Capacity Maturity Date Interest Rate (1) Revolving credit facility $ 650,000 7/25/2026 SOFR + 0.10 % + 1.40 % - 2.25 % $ 425,000 7/27/2022 LIBOR + 1.40 % - 2.25 % Term loan 275,000 7/25/2027 SOFR + 0.10 % + 1.35 % - 2.20 % 200,000 7/27/2023 LIBOR + 1.35 % - 2.20 % Term loan 300,000 1/31/2028 SOFR + 0.10 % + 1.35 % - 2.20 % 225,000 1/31/2024 LIBOR + 1.35 % - 2.20 % Total $ 1,225,000 $ 850,000 (1) Interest rates on all of the unsecured credit facilities increased to 0.15 % above the highest rate shown for each loan during the Extended Covenant Waiver Period (as defined below) from March 1, 2021 through July 28, 2021.
Summary [Member]
Debt Tables [Line Items]
Schedule of Long-term Debt Instruments	As of September 30, 2022 and December 31, 2021, the Company’s debt consisted of the following (in thousands): September 30, December 31, Revolving credit facility (1) $ - $ 76,000 Term loans and senior notes, net (1) 986,904 865,189 Mortgage debt, net 331,415 497,569 Debt, net $ 1,318,319 $ 1,438,758 (1) On July 25, 2022, the Company entered into an amendment and restatement of its $ 850 million credit facility (defined below), which among other things increased the borrowing capacity to $ 1.2 billion and extended the maturity dates. See the $1.2 Billion Credit Facility section below for details.
Credit Facilities [Member]
Debt Tables [Line Items]
Schedule of Long-term Debt Instruments	As of September 30, 2022 and December 31, 2021, the details of the Company’s unsecured credit facilities were as set forth in the table below. All dollar amounts are in thousands. September 30, 2022 December 31, 2021 Origination Maturity Outstanding Balance Interest Rate (1) Outstanding Balance Interest Rate (2) Revolving credit facility (3) (4) 7/25/2022 7/25/2026 $ - SOFR + 0.10 % + 1.40 % - 2.25 % $ 76,000 LIBOR + 1.40 % - 2.25 % Term loans and senior notes $275 million term loan (4) 7/25/2022 7/25/2027 275,000 SOFR + 0.10 % + 1.35 % - 2.20 % - n/a $200 million term loan (4) 7/27/2018 repaid 7/25/22 - n/a 200,000 LIBOR + 1.35 % - 2.20 % $300 million term loan (4) 7/25/2022 1/31/2028 200,000 SOFR + 0.10 % + 1.35 % - 2.20 % - n/a $225 million term loan (4) 7/27/2018 repaid 7/25/22 - n/a 225,000 LIBOR + 1.35 % - 2.20 % $50 million term loan 8/2/2018 8/2/2023 50,000 SOFR + 0.10 % + 1.35 % - 2.20 % 50,000 LIBOR + 1.35 % - 2.20 % $175 million term loan 8/2/2018 8/2/2025 175,000 SOFR + 0.10 % + 1.65 % - 2.50 % 175,000 LIBOR + 1.65 % - 2.50 % 2017 $85 million term loan 7/25/2017 7/25/2024 85,000 SOFR + 0.10 % + 1.30 % - 2.10 % 85,000 LIBOR + 1.30 % - 2.10 % 2019 $85 million term loan 12/31/2019 12/31/2029 85,000 SOFR + 0.10 % + 1.70 % - 2.55 % 85,000 LIBOR + 1.70 % - 2.55 % $50 million senior notes 3/16/2020 3/31/2030 50,000 3.60 % - 4.35 % 50,000 3.60 % - 4.35 % $75 million senior notes 6/2/2022 6/2/2029 75,000 4.88 % - 5.63 % - n/a Term loans and senior notes at stated 995,000 870,000 Unamortized debt issuance costs ( 8,096 ) ( 4,811 ) Term loans and senior notes, net 986,904 865,189 Credit facilities, net (3) $ 986,904 $ 941,189 Weighted-average interest rate (5) 3.64 % 2.97 % (1) In July 2022, the Company amended each of its unsecured credit facilities to replace LIBOR with SOFR as the reference rate plus a 0.10 % SOFR spread adjustment. (2) Interest rates on all of the unsecured credit facilities increased to 0.15 % above the highest rate shown for each loan during the Extended Covenant Waiver Period (as defined below) from March 1, 2021 through July 28, 2021. (3) Excludes unamortized debt issuance costs related to the Revolving Credit Facility totaling approximately $ 5.1 million as of September 30, 2022 and related to the $ 425 million revolving credit facility totaling approximately $ 1.0 million as of December 31, 2021 , which are included in other assets, net in the Company’s consolidated balance sheets. (4) On July 25, 2022, the Company entered into an amendment and restatement of its $ 850 million credit facility, which among other things increased the borrowing capacity to $ 1.2 billion and extended the maturity dates. See the $ 1.2 Billion Credit Facility section above for details. (5) Interest rate represents the weighted-average effective annual interest rate at the balance sheet date which includes the effect of interest rate swaps in effect on $ 695.0 million and $ 770.0 million of the outstanding variable-rate debt as of September 30, 2022 and December 31, 2021, respectively. See Note 5 for more information on the interest rate swap agreements. The one-month SOFR at September 30, 2022 was 3.04 %. As of December 31, 2021 , the Company's interest rate swap agreements were based on the one-month LIBOR of 0.10 %.
Mortgage Debt [Member]
Debt Tables [Line Items]
Schedule of Long-term Debt Instruments	As of September 30, 2022, the Company had approximately $ 331.8 million in outstanding mortgage debt secured by 19 properties with maturity dates ranging from February 2023 to May 2038, stated interest rates ranging from 3.40 % to 4.46 % and effective interest rates ranging from 3.40 % to 4.68 %. The loans generally provide for monthly payments of principal and interest on an amortized basis and defeasance or prepayment penalties if prepaid. The following table sets forth the hotel properties securing each loan, the interest rate, loan assumption or origination date, maturity date, the principal amount assumed or originated, and the outstanding balance prior to any fair value adjustments or debt issuance costs as of September 30, 2022 and December 31, 2021 for each of the Company’s mortgage debt obligations. All dollar amounts are in thousands. Location Brand Interest (1) Loan Maturity Principal Outstanding Outstanding Seattle, WA (2) 4.00 % 8/16/2021 (4) $ 56,000 $ - $ 56,000 Grapevine, TX Hilton Garden Inn 4.89 % 8/29/2012 (5) 11,810 - 9,075 Collegeville/Philadelphia, PA Courtyard 4.89 % 8/30/2012 (5) 12,650 - 9,720 Hattiesburg, MS Courtyard 5.00 % 3/1/2014 (5) 5,732 - 4,550 Kirkland, WA Courtyard 5.00 % 3/1/2014 (5) 12,145 - 9,640 Rancho Bernardo/San Diego, CA Courtyard 5.00 % 3/1/2014 (5) 15,060 - 11,954 Seattle, WA Residence Inn 4.96 % 3/1/2014 (5) 28,269 - 22,412 Anchorage, AK Embassy Suites 4.97 % 9/13/2012 (6) 23,230 - 17,959 Somerset, NJ Courtyard 4.73 % 3/1/2014 (6) 8,750 - 6,903 Tukwila, WA Homewood Suites 4.73 % 3/1/2014 (6) 9,431 - 7,440 Huntsville, AL Homewood Suites 4.12 % 3/1/2014 2/6/2023 8,306 6,264 6,473 Prattville, AL Courtyard 4.12 % 3/1/2014 2/6/2023 6,596 4,975 5,141 San Diego, CA Residence Inn 3.97 % 3/1/2014 3/6/2023 18,600 13,987 14,456 Miami, FL Homewood Suites 4.02 % 3/1/2014 4/1/2023 16,677 12,582 13,000 New Orleans, LA Homewood Suites 4.36 % 7/17/2014 8/11/2024 27,000 21,370 21,981 Westford, MA Residence Inn 4.28 % 3/18/2015 4/11/2025 10,000 8,099 8,320 Denver, CO Hilton Garden Inn 4.46 % 9/1/2016 6/11/2025 34,118 28,659 29,415 Oceanside, CA Courtyard 4.28 % 9/1/2016 10/1/2025 13,655 12,095 12,318 Omaha, NE Hilton Garden Inn 4.28 % 9/1/2016 10/1/2025 22,681 20,090 20,460 Boise, ID Hampton 4.37 % 5/26/2016 6/11/2026 24,000 21,318 21,680 Burbank, CA Courtyard 3.55 % 11/3/2016 12/1/2026 25,564 21,522 22,098 San Diego, CA Courtyard 3.55 % 11/3/2016 12/1/2026 25,473 21,445 22,019 San Diego, CA Hampton 3.55 % 11/3/2016 12/1/2026 18,963 15,964 16,392 Burbank, CA SpringHill Suites 3.94 % 3/9/2018 4/1/2028 28,470 25,256 25,845 Santa Ana, CA Courtyard 3.94 % 3/9/2018 4/1/2028 15,530 13,777 14,098 Richmond, VA Courtyard 3.40 % 2/12/2020 3/11/2030 14,950 14,222 14,447 Richmond, VA Residence Inn 3.40 % 2/12/2020 3/11/2030 14,950 14,222 14,447 Portland, ME (3) Residence Inn 3.43 % 3/2/2020 3/1/2032 33,500 30,500 33,500 San Jose, CA Homewood Suites 4.22 % 12/22/2017 5/1/2038 30,000 25,456 26,303 $ 572,110 331,803 498,046 Unamortized fair value adjustment of 843 1,010 Unamortized debt issuance costs ( 1,231 ) ( 1,487 ) Total $ 331,415 $ 497,569 (1) Interest rates are the rates per the loan agreement. For loans assumed, the Company adjusted the interest rates per the loan agreement to market rates and is amortizing the adjustments to interest expense over the life of the loan. (2) On August 16, 2021, the Company acquired the fee interest in the land at the Seattle, Washington Residence Inn, previously held under a finance ground lease, for a purchase price of $ 80.0 million, consisting of a $ 24.0 million cash payment and a one-year note payable to the seller for $ 56.0 million. (3) Loan was amended effective March 1, 2022, in conjunction with a $ 3.0 million prepayment of loan principal. In addition, the maturity date of the loan was extended by two years to March 1, 2032 . (4) Loan was repaid in full on June 16, 2022. (5) Loans were repaid in full on June 30, 2022. (6) Loans were repaid in full on August 1, 2022.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
Fair Value of Financial Instruments (Tables)	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Interest Rate Swap Agreements	The following table sets forth information for each of the Company’s interest rate swap agreements outstanding as of September 30, 2022 and December 31, 2021. All dollar amounts are in thousands. Fair Value Asset (Liability) Notional Amount at Origination Effective Maturity Swap Fixed (1) Swap Fixed (1) September 30, December 31, Active interest rate swaps designated as cash flow hedges at September 30, 2022: $ 100,000 4/7/2016 9/30/2016 3/31/2023 1.30 % 1.33 % $ 1,357 $ ( 955 ) 75,000 5/31/2017 7/31/2017 6/30/2024 1.95 % 1.96 % 2,960 ( 1,902 ) 10,000 8/10/2017 8/10/2017 6/30/2024 2.02 % 2.01 % 380 ( 268 ) 50,000 6/1/2018 1/31/2019 6/30/2025 2.88 % 2.89 % 1,589 ( 3,123 ) 50,000 7/2/2019 7/5/2019 7/18/2024 1.64 % 1.65 % 2,274 ( 894 ) 50,000 8/21/2019 8/23/2019 8/18/2024 1.31 % 1.32 % 2,688 ( 457 ) 50,000 8/21/2019 8/23/2019 8/30/2024 1.32 % 1.32 % 2,719 ( 455 ) 85,000 12/31/2019 12/31/2019 12/31/2029 1.87 % 1.86 % 10,200 ( 3,277 ) 25,000 12/6/2018 1/31/2020 6/30/2025 2.74 % 2.75 % 884 ( 1,442 ) 50,000 12/7/2018 5/18/2020 1/31/2024 2.71 % 2.72 % 1,040 ( 1,965 ) 75,000 8/21/2019 5/18/2020 5/18/2025 1.26 % 1.27 % 5,395 ( 458 ) 75,000 8/21/2019 5/18/2021 5/18/2026 1.29 % 1.30 % 6,868 ( 391 ) 695,000 38,354 ( 15,587 ) Matured interest rate swap at September 30, 2022: $ 75,000 7/31/2020 8/18/2020 8/18/2022 - 0.13 % - 79 $ 38,354 $ ( 15,508 ) (1) The fixed interest rate associated with each interest rate swap was amended in July 2022 as part of the swap amendments to replace LIBOR with SOFR as the reference rate.
Derivative Instruments, Gain (Loss) Recognized	The following table presents the effect of derivative instruments in cash flow hedging relationships in the Company’s consolidated statements of operations and comprehensive income for the three and nine months ended September 30, 2022 and 2021 (in thousands): Net Unrealized Gain Net Unrealized Gain (Loss) Reclassified Three Months Ended September 30, Three Months Ended September 30, 2022 2021 2022 2021 Interest rate derivatives in cash flow $ 17,130 $ 478 $ 1,106 $ ( 2,948 ) Net Unrealized Gain Net Unrealized Loss Reclassified Nine Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Interest rate derivatives in cash flow $ 50,649 $ 9,714 $ ( 3,213 ) $ ( 8,438 )

Compensation Plans (Tables)

Compensation Plans (Tables)	9 Months Ended
Compensation Plans (Tables)	Sep. 30, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Information Pertaining to Share-based Compensation Issued	The following table sets forth information pertaining to the share-based compensation issued under the 2021 Incentive Plan and the incentive plan for 2020 (the “2020 Incentive Plan”). 2021 Incentive 2020 Incentive Period common shares issued First Quarter 2022 First Quarter 2021 Common shares earned under each incentive plan 868,079 555,726 Common shares surrendered on issuance date to 245,597 117,647 Common shares earned and issued under each 622,482 438,079 Closing stock price on issuance date $ 17.79 $ 14.03 Total share-based compensation earned, including the $ 15.4 (1) $ 7.8 (2) Of the total common shares earned and issued, total 338,032 160,216 Of the total common shares earned and issued, total 284,450 277,863 Restricted common shares vesting date December 9, 2022 December 10, 2021 Common shares surrendered on vesting date to satisfy n/a 108,292 (1) Of the total 2021 share-based compensation, approximately $ 12.9 million was recorded as a liability as of December 31, 2021 and is included in accounts payable and other liabilities in the Company’s consolidated balance sheet at December 31, 2021 . The remaining $ 2.5 million, which is subject to vesting on December 9, 2022 and excludes any restricted shares forfeited or vested prior to that date, will be recognized as share-based compensation expense proportionately throughout 2022. For the three and nine months ended September 30, 2022 , the Company recognized approximately $ 0.6 million and $ 1.9 million, respectively, of share-based compensation expense related to restricted share awards. (2) Of the total 2020 share-based compensation, approximately $ 1.9 million, which vested on December 10, 2021, was recognized as share-based compensation expense proportionately throughout 2021. For the three and nine months ended September 30, 2021 , the Company recognized approximately $ 0.5 million and $ 1.5 million, respectively, of share-based compensation expense related to restricted share awards.

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies - Additional Information (Details)	9 Months Ended
	Sep. 30, 2022 State Segment Room Hotel
Organization and Summary of Significant Accounting Policies (Details) [Line Items]
Number of reportable segments \| Segment	1
Number of hotels \| Hotel	218
Aggregate number of hotel rooms \| Room	28,693
Number of states in which hotels are located \| State	36

Investment In Real Estate - Sch

Investment In Real Estate - Schedule of Investment in Real Estate (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Real estate investment property, at cost	$ 6,013,221	$ 5,988,447
Less accumulated depreciation and amortization	(1,446,221)	(1,311,262)
Investment in real estate, net	4,567,000	4,677,185
Land [Member]
Property Plant And Equipment [Line Items]
Real estate investment property, at cost	794,317	794,899
Building and Improvements [Member]
Property Plant And Equipment [Line Items]
Real estate investment property, at cost	4,593,388	4,584,829
Furniture, Fixtures and Equipment [Member]
Property Plant And Equipment [Line Items]
Real estate investment property, at cost	505,065	488,773
Finance Ground Lease Assets [Member]
Property Plant And Equipment [Line Items]
Real estate investment property, at cost	102,084	102,084
Franchise Fees [Member]
Property Plant And Equipment [Line Items]
Real estate investment property, at cost	$ 18,367	$ 17,862

Investment in Real Estate - Add

Investment in Real Estate - Additional Information (Details) $ in Thousands			3 Months Ended			9 Months Ended			12 Months Ended
	Oct. 25, 2022 Hotel	Aug. 16, 2021 USD ($)	Sep. 30, 2022 USD ($) State Hotel Room		Sep. 30, 2021 USD ($) Hotel	Sep. 30, 2022 USD ($) State Hotel Room		Sep. 30, 2021 USD ($) Hotel	Dec. 31, 2021 USD ($) Hotel Room
Investment In Real Estate [Line Items]
Number of hotels \| Hotel			218			218
Aggregate number of hotel rooms \| Room			28,693			28,693
Number of states in which hotels are located \| State			36			36
Total revenue			$ 341,150		$ 277,164	$ 939,296		$ 683,281
Operating income (loss)			75,410		$ 47,850	188,990		59,024
Cash payment								$ 197,228
Finance lease liabilities			111,969			111,969			$ 111,776
Revolving Credit Facility [Member]
Investment In Real Estate [Line Items]
Line of credit facility, maximum borrowing capacity									$ 425,000
Residence Inn, Seattle, Washington [Member]
Investment In Real Estate [Line Items]
Note payable term		1 year
Note payable, frequency of periodic payment		monthly
Cash payment		$ 24,000
Note payable, principal assumed or originated		56,000	$ 56,000	[1],[2]		$ 56,000	[1],[2]
Purchase price		$ 80,000
Note payable, fixed annual interest rate		4%	4%	[2],[3]		4%	[2],[3]
Adjustment to carrying amount of acquired land for land purchase accounted for retirement of finance lease		$ 16,600
Finance lease net right-of-use asset		94,500
Finance lease liabilities		$ 111,100
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]		Other assets, net
Hotel Acquisitions [Member]
Investment In Real Estate [Line Items]
Number of hotels \| Hotel			0		4	0		4	8
Aggregate number of hotel rooms \| Room									1,303
Total revenue								$ 5,800
Operating income (loss)								$ 700
Purchase price									$ 361,499
Hotels Under Purchase Contract [Member]
Investment In Real Estate [Line Items]
Number of outstanding contracts \| Hotel			3			3
Purchase price						$ 163,598
Purchase contract gross purchase price			$ 163,600			$ 163,600
Number of existing hotels to be acquired \| Hotel						2
Hotels Under Purchase Contract [Member] \| Subsequent Events [Member]
Investment In Real Estate [Line Items]
Number of existing hotels to be acquired \| Hotel	2
Hotels Under Purchase Contract [Member] \| Embassy Suites Madison, WI [Member]
Investment In Real Estate [Line Items]
Purchase price						$ 78,598

[1] Loan was repaid in full on June 16, 2022. On August 16, 2021, the Company acquired the fee interest in the land at the Seattle, Washington Residence Inn, previously held under a finance ground lease, for a purchase price of $ 80.0 million, consisting of a $ 24.0 million cash payment and a one-year note payable to the seller for $ 56.0 million. Interest rates are the rates per the loan agreement. For loans assumed, the Company adjusted the interest rates per the loan agreement to market rates and is amortizing the adjustments to interest expense over the life of the loan.

Investment in Real Estate - S_2

Investment in Real Estate - Schedule of Hotel Acquisitions (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) Room	Sep. 30, 2022 Room
Real Estate Properties [Line Items]
Rooms		28,693
Hotel Acquisitions [Member]
Real Estate Properties [Line Items]
Rooms	1,303
Gross Purchase Price \| $	$ 361,499
Hilton Garden Inn Madison, WI [Member] \| Hotel Acquisitions [Member]
Real Estate Properties [Line Items]
Manager	Raymond
Date Acquired	Feb. 18, 2021
Rooms	176
Gross Purchase Price \| $	$ 49,599
AC Hotels Portland, ME [Member] \| Hotel Acquisitions [Member]
Real Estate Properties [Line Items]
Manager	Crestline
Date Acquired	Aug. 20, 2021
Rooms	178
Gross Purchase Price \| $	$ 66,750
Hyatt Place Greenville, SC [Member] \| Hotel Acquisitions [Member]
Real Estate Properties [Line Items]
Manager	Crestline
Date Acquired	Sep. 01, 2021
Rooms	130
Gross Purchase Price \| $	$ 30,000
Aloft Portland, ME [Member] \| Hotel Acquisitions [Member]
Real Estate Properties [Line Items]
Manager	Crestline
Date Acquired	Sep. 10, 2021
Rooms	157
Gross Purchase Price \| $	$ 51,150
Hilton Garden Inn Memphis, TN [Member] \| Hotel Acquisitions [Member]
Real Estate Properties [Line Items]
Manager	Crestline
Date Acquired	Oct. 28, 2021
Rooms	150
Gross Purchase Price \| $	$ 38,000
Hilton Garden Inn Fort Worth, TX [Member] \| Hotel Acquisitions [Member]
Real Estate Properties [Line Items]
Manager	Raymond
Date Acquired	Nov. 17, 2021
Rooms	157
Gross Purchase Price \| $	$ 29,500
Homewood Suites Fort Worth, TX [Member] \| Hotel Acquisitions [Member]
Real Estate Properties [Line Items]
Manager	Raymond
Date Acquired	Nov. 17, 2021
Rooms	112
Gross Purchase Price \| $	$ 21,500
Hampton Portland, OR [Member] \| Hotel Acquisitions [Member]
Real Estate Properties [Line Items]
Manager	Raymond
Date Acquired	Nov. 17, 2021
Rooms	243
Gross Purchase Price \| $	$ 75,000

Investment in Real Estate - S_3

Investment in Real Estate - Schedule of Purchase Contract Outstanding (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($) Room
Real Estate Properties [Line Items]
Rooms \| Room	28,693
Hotels Under Purchase Contract [Member]
Real Estate Properties [Line Items]
Rooms \| Room	550
Refundable Deposits	$ 2,143
Gross Purchase Price	$ 163,598
Hotels Under Purchase Contract [Member] \| Embassy Suites Madison W I [Member]
Real Estate Properties [Line Items]
Date of Purchase Contract	Jul. 27, 2021
Rooms \| Room	260
Refundable Deposits	$ 893
Gross Purchase Price	$ 78,598
Hotels Under Purchase Contract [Member] \| AC Hotels Louisville, KY [Member]
Real Estate Properties [Line Items]
Date of Purchase Contract	Sep. 08, 2022
Rooms \| Room	156
Refundable Deposits	$ 750
Gross Purchase Price	$ 51,000
Hotels Under Purchase Contract [Member] \| AC Hotels Pittsburgh, PA [Member]
Real Estate Properties [Line Items]
Date of Purchase Contract	Sep. 08, 2022
Rooms \| Room	134
Refundable Deposits	$ 500
Gross Purchase Price	$ 34,000

Dispositions - Additional Infor

Dispositions - Additional Information (Details) $ in Thousands	1 Months Ended		3 Months Ended			9 Months Ended		12 Months Ended	21 Months Ended
	Apr. 30, 2021 USD ($)	Feb. 28, 2021 USD ($)	Sep. 30, 2022 USD ($) Hotel Room	Sep. 30, 2021 USD ($) Hotel	Mar. 31, 2021 USD ($) Hotel	Sep. 30, 2022 USD ($) Hotel Room	Sep. 30, 2021 USD ($) Hotel	Dec. 31, 2021 USD ($) Transaction Hotel	Sep. 30, 2022 USD ($) Room Hotel
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Number of hotels \| Hotel			218			218			218
Rooms \| Room			28,693			28,693			28,693
Gain (Loss) on Disposition of Assets			$ 1,785	$ 44		$ 1,785	$ 3,664
Loss on impairment of depreciable real estate assets							$ 10,754
Revolving Credit Facility [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Line Of Credit Facility Maximum Borrowing Capacity								$ 425,000
Hotels Sold [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Number of hotels \| Hotel			1	23		1	23	23	1
Rooms \| Room			55			55			55
Number of Separate Transactions \| Transaction								4
Sale of Real Estate Assets, Gross Sales Price						$ 8,500		$ 234,600
Gain (Loss) on Disposition of Assets						1,800		3,600
Real Estate Investment, Carrying Value			$ 6,500			6,500		$ 227,200	$ 6,500
Hotels Sold [Member] \| SpringHill Suites Overland Park, KS [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Sale of Real Estate Assets, Gross Sales Price		$ 5,300
Loss on impairment of depreciable real estate assets					$ 1,300
Hotels Sold [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Operating (loss), excluding gain (loss) on sale of real estate			$ 100	$ 1,400		$ 300	$ (6,700)
Number Of Real Estate Properties1 \| Hotel									24
Hotel Sale Contracts and Loss on Impairment of Depreciable Real Estate Assets [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Number of hotels \| Hotel					20
Purchase, gross sales price	$ 211,000
Loss on impairment of depreciable real estate assets					$ 9,400

Dispositions - Schedule of Hote

Dispositions - Schedule of Hotels Sold (Details)	9 Months Ended
Dispositions - Schedule of Hotels Sold (Details)	Sep. 30, 2022 Room
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Rooms	2,493
Homewood Suites Charlotte, NC [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Feb. 25, 2021
Rooms	118
Homewood Suites Memphis, TN [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Mar. 16, 2021
Rooms	140
SpringHill Suites Overland Park, KS [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Apr. 30, 2021
Rooms	102
Hilton Garden Inn Montgomery, AL [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Jul. 22, 2021
Rooms	97
Homewood Suites Montgomery, AL [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Jul. 22, 2021
Rooms	91
Residence Inn Rogers, AR [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Jul. 22, 2021
Rooms	88
Courtyard Phoenix, AZ [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Jul. 22, 2021
Rooms	127
Courtyard Lakeland, FL [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Jul. 22, 2021
Rooms	78
Fairfield Albany, GA [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Jul. 22, 2021
Rooms	87
Hilton Garden Inn Schaumburg, IL [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Jul. 22, 2021
Rooms	166
SpringHill Suites Andover, MA [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Jul. 22, 2021
Rooms	136
Residence Inn Fayetteville, NC [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Jul. 22, 2021
Rooms	92
Residence Inn Greenville, SC [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Jul. 22, 2021
Rooms	78
Hampton Jackson, TN [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Jul. 22, 2021
Rooms	85
Courtyard Johnson City, TN [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Jul. 22, 2021
Rooms	90
Hampton Allen, TX [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Jul. 22, 2021
Rooms	103
Hilton Garden Inn Allen, TX [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Jul. 22, 2021
Rooms	150
Residence Inn Beaumont, TX [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Jul. 22, 2021
Rooms	133
Hampton Burleson/FortWorth, TX [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Jul. 22, 2021
Rooms	88
Hilton Garden Inn El Paso, TX [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Jul. 22, 2021
Rooms	145
Homewood Suites Irving, TX [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Jul. 22, 2021
Rooms	77
SpringHill Suites Richmond, VA [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Jul. 22, 2021
Rooms	103
SpringHill Suites Vancouver, WA [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Date Sold	Jul. 22, 2021
Rooms	119

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands		Sep. 30, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Revolving credit facility	[1]		$ 76,000
Term loans and senior notes, net	[1]	$ 986,904	865,189
Mortgage debt, net		331,415	497,569
Debt, net		$ 1,318,319	$ 1,438,758

[1] On July 25, 2022, the Company entered into an amendment and restatement of its $ 850 million credit facility (defined below), which among other things increased the borrowing capacity to $ 1.2 billion and extended the maturity dates. See the $1.2 Billion Credit Facility section below for details.

Debt - Schedule of Debt (Parent

Debt - Schedule of Debt (Parenthetical) (Details) - USD ($)	Sep. 30, 2022	Jul. 25, 2022
Prior to Refinancing [Member]
Debt Details [Line Items]
Line of credit facility, maximum borrowing capacity	$ 850,000,000
$850 Million Unsecured Credit Facility [Member] \| Prior to Refinancing [Member]
Debt Details [Line Items]
Line of credit facility, maximum borrowing capacity	850,000,000	$ 850,000,000
$1.2 Billion Credit Facility [Member]
Debt Details [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,200,000,000	$ 1,200,000,000

Debt - Schedule of Future Minim

Debt - Schedule of Future Minimum Debt Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
2022 (October - December)	$ 2,587
2023	96,214
2024	113,597
2025	245,140
2026	74,649
Thereafter	794,616
Debt, gross	1,326,803	$ 1,444,046
Unamortized fair value adjustment of assumed debt	843
Unamortized debt issuance costs	(9,327)
Debt, net	$ 1,318,319	$ 1,438,758

Debt - Schedule of Total Fixed-

Debt - Schedule of Total Fixed-Rate and Variable Rate Debt (Details) - USD ($) $ in Thousands		Sep. 30, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Fixed-rate debt	[1]	$ 1,151,803	$ 1,318,046
Variable-rate debt		175,000	126,000
Debt, gross		$ 1,326,803	$ 1,444,046
Weighted-average interest rate of debt		3.72%	3.38%
Fixed-rate debt, Percentage	[1]	87%	91%
Variable-rate debt, Percentage		13%	9%

[1] Fixed-rate debt includes the portion of variable-rate debt where the interest payments have been effectively fixed by interest rate swaps as of the respective balance sheet date. See Note 5 for more information on the interest rate swap agreements.

Debt - Additional Information (

Debt - Additional Information (Details)

1 Months Ended

2 Months Ended

6 Months Ended

9 Months Ended

Oct. 25, 2022 USD ($)

Jul. 25, 2022 USD ($)

Mar. 02, 2021 $ / shares

Dec. 31, 2019 USD ($) Loan

Jan. 29, 2019 USD ($)

Jul. 25, 2017 Loan

Dec. 31, 2021 USD ($)

Jul. 31, 2018 USD ($) Loan

Sep. 30, 2022 USD ($)

Jun. 30, 2021 $ / shares

Sep. 30, 2022 USD ($) Hotel_Property

Jul. 31, 2022

Jun. 02, 2022 USD ($)

Mar. 16, 2020 USD ($)

Aug. 02, 2018 USD ($)

Debt Details [Line Items]

Debt instrument, description of variable rate basis

SOFR rate plus SOFR spread adjustment rate

Proceeds from term loans and senior notes

$ 125,000,000

SOFR spread adjustment rate

0.10%

Outstanding Balance

$ 1,444,046,000

$ 1,326,803,000

Subsequent Events [Member]

Debt Details [Line Items]

Term loan facility, maximum borrowing capacity

$ 575,000,000

Proceeds from term loans and senior notes

50,000,000

Delayed Draw Term Loan [Member] | Subsequent Events [Member]

Debt Details [Line Items]

Term loan facility, remaining available capacity

$ 50,000,000

2022 Debt Refinancing [Member]

Debt Details [Line Items]

Line of credit facility, maximum borrowing capacity

$ 1,225,000,000

Prior To Refinancing [Member]

Debt Details [Line Items]

Line of credit facility, maximum borrowing capacity

850,000,000

2017 $85 Million Unsecured Term Loan Facility [Member]

Debt Details [Line Items]

Line of credit facility, maximum borrowing capacity

1,200,000,000

Number of term loans | Loan

Debt instrument, face amount

$ 85,000,000

Debt instrument, maturity date

Jul. 25, 2024

Debt instrument, description of variable rate basis

one-month SOFR plus a 0.10% SOFR spread adjustment

SOFR spread adjustment rate

0.10%

2019 $85 Million Unsecured Term Loan Facility [Member]

Debt Details [Line Items]

Line of credit facility, maximum borrowing capacity

$ 1,200,000,000

Number of term loans | Loan

Debt instrument, face amount

$ 85,000,000

Debt instrument, maturity date

Dec. 31, 2029

Debt instrument, description of variable rate basis

one-month SOFR plus a 0.10% SOFR spread adjustment

SOFR spread adjustment rate

0.10%

$50 Million Senior Notes [Member]

Debt Details [Line Items]

Line of credit facility, maximum borrowing capacity

$ 1,200,000,000

Debt instrument, face amount

50,000,000

$ 50,000,000

Debt instrument, maturity date

Mar. 31, 2030

$75 Million Senior Notes [Member]

Debt Details [Line Items]

Line of credit facility, maximum borrowing capacity

1,200,000,000

$ 1,200,000,000

Debt instrument, face amount

75,000,000

$ 75,000,000

Debt instrument, maturity date

Jun. 02, 2029

$575 Million Unsecured Term Loan Facility [Member]

Debt Details [Line Items]

Line of credit facility, maximum borrowing capacity

575,000,000

$ 575,000,000

Term Loan | Prior To Refinancing [Member]

Debt Details [Line Items]

Repayments of debt

425,000,000

Mortgage Debt [Member]

Debt Details [Line Items]

Outstanding Balance

331,800,000

$ 331,800,000

Number of hotel properties used to secure debt | Hotel_Property

Debt instrument, maturity date, description

maturity dates ranging from February 2023 to May 2038,

$850 Million Unsecured Credit Facility [Member] | Prior To Refinancing [Member]

Debt Details [Line Items]

Line of credit facility, maximum borrowing capacity

850,000,000

$ 850,000,000

$850 Million Unsecured Credit Facility [Member] | $425 Million Unsecured Revolving Credit Facility [Member] | Prior To Refinancing [Member]

Debt Details [Line Items]

Line of credit facility, maximum borrowing capacity

425,000,000

$ 425,000,000

Line of credit facility, expiration date

Jul. 27, 2022

$850 Million Unsecured Credit Facility [Member] | $425 Million Unsecured Term Loan Facility [Member] | Prior To Refinancing [Member]

Debt Details [Line Items]

Term loan facility, maximum borrowing capacity

$ 425,000,000

Number of term loans | Loan

$850 Million Unsecured Credit Facility [Member] | $425 Million Unsecured Term Loan Facility [Member] | $200 Million Unsecured Term Loan [Member] | Prior To Refinancing [Member]

Debt Details [Line Items]

Debt instrument, face amount

$ 200,000,000

Debt instrument, maturity date

Jul. 27, 2023

$850 Million Unsecured Credit Facility [Member] | $425 Million Unsecured Term Loan Facility [Member] | $225 Million Unsecured Term Loan [Member] | Prior To Refinancing [Member]

Debt Details [Line Items]

Debt instrument, face amount

$ 225,000,000

Debt instrument, maturity date

Jan. 31, 2024

$225 Million Unsecured Term Loan Facility [Member]

Debt Details [Line Items]

Line of credit facility, maximum borrowing capacity

1,200,000,000

$ 1,200,000,000

Term loan facility, maximum borrowing capacity

$ 225,000,000

Debt instrument, description of variable rate basis

one-month SOFR plus a 0.10% SOFR spread adjustment

SOFR spread adjustment rate

0.10%

$225 Million Unsecured Term Loan Facility [Member] | $50 Million Unsecured Term Loan [Member]

Debt Details [Line Items]

Debt instrument, face amount

50,000,000

Debt instrument, maturity date

Aug. 02, 2023

Date of amended and restated credit facility

Aug. 02, 2018

$225 Million Unsecured Term Loan Facility [Member] | $175 Million Unsecured Term Loan [Member]

Debt Details [Line Items]

Debt instrument, face amount

$ 175,000,000

$ 100,000,000

Debt instrument, maturity date

Aug. 02, 2025

Debt instrument, description

$100 million was funded on August 2, 2018, and the remaining $75 million was funded on January 29, 2019 (the “$225 million term loan facility”)

Proceeds from term loans and senior notes

$ 75,000,000

Credit Facilities [Member]

Debt Details [Line Items]

Line of credit facility, covenant terms

The credit agreements governing the unsecured credit facilities (collectively, the “credit agreements”) contain mandatory prepayment requirements, customary affirmative and negative covenants, restrictions on certain investments and events of default. After giving effect to the July 2022 amendments, the credit agreements contain the following financial and restrictive covenants (capitalized terms not defined below are defined in the credit agreements):•A ratio of Consolidated Total Indebtedness to Consolidated EBITDA (“Maximum Consolidated Leverage Ratio”) of not more than 7.25 to 1.00;•A ratio of Consolidated Secured Indebtedness to Consolidated Total Assets (“Maximum Secured Leverage Ratio”) of not more than 45%;•A minimum Consolidated Tangible Net Worth of approximately $3.4 billion plus an amount equal to 75% of the Net Cash Proceeds from issuances and sales of Equity Interests occurring after the Closing Date, July 25, 2022, subject to adjustment;•A ratio of Adjusted Consolidated EBITDA to Consolidated Fixed Charges ("Minimum Fixed Charge Coverage Ratio") of not less than 1.50 to 1.00 for the trailing four full quarters;•A ratio of Unencumbered Adjusted NOI to Consolidated Implied Interest Expense for Consolidated Unsecured Indebtedness ("Minimum Unsecured Interest Coverage Ratio") of not less than 2.00 to 1.00 for the trailing four full quarters;•A ratio of Consolidated Unsecured Indebtedness to Unencumbered Asset Value (“Maximum Unsecured Leverage Ratio”) of not more than 60% (subject to a higher level in certain circumstances); and•A ratio of Consolidated Secured Recourse Indebtedness to Consolidated Total Assets (“Maximum Secured Recourse Indebtedness”) of not more than 10%.The Company was in compliance with the applicable covenants at September 30, 2022.Prior Amendments to Credit Agreements

Unsecured Credit Facility

Debt Details [Line Items]

Minimum consolidated tangible net worth

$ 3,400,000,000

Percentage of net cash proceeds from issuances and sales of equity interests

75%

Line of Credit [Member]

Debt Details [Line Items]

Loan amendment description

As a result of COVID-19 and the associated disruption to the Company’s operating results, the Company first entered into amendments in June 2020 that suspended the testing of the Company’s financial maintenance covenants under the unsecured credit facilities and imposed certain restrictions regarding the Company's investing and financing activities. Further amendments were entered into in March 2021 (the “March 2021 amendments”), extending the majority of the covenant waivers until the date that the compliance certificate was required to be delivered for the fiscal quarter ended June 30, 2022 (unless the Company elected an earlier date) (the “Extended Covenant Waiver Period”). The March 2021 amendments imposed several modifications and restrictions during the Extended Covenant Waiver Period, including continued cash distribution restrictions, except for the payment of cash dividends of $0.01 per common share per quarter or to the extent required to maintain REIT status, modification of the previous operating restrictions to less restrictive levels, changes to the calculation of the financial maintenance covenants upon exiting the Extended Covenant Waiver Period, and an increase in the LIBOR floor and establishment of a Base Rate (as defined in the credit agreements) floor under the $425 million revolving credit facility.

Line of Credit [Member] | Limit On Quarterly Cash Distribution During Covenant Waiver Period [Member]

Debt Details [Line Items]

Payment of cash distribution per common share | $ / shares

$ 0.01

$1.2 Billion Credit Facility [Member]

Debt Details [Line Items]

Line of credit facility, maximum borrowing capacity

1,200,000,000

$ 1,200,000,000

Debt instrument, description of variable rate basis

one-month SOFR plus a 0.10% SOFR spread adjustment

SOFR spread adjustment rate

0.10%

$1.2 Billion Credit Facility [Member] | $650 Million Revolving Credit Facility [Member]

Debt Details [Line Items]

Line of credit facility, maximum borrowing capacity

$ 650,000,000

Debt instrument extended maturity date

Jul. 25, 2026

$1.2 Billion Credit Facility [Member] | $275 Million Term Loan Facility [Member]

Debt Details [Line Items]

Debt instrument, face amount

275,000,000

$ 275,000,000

Debt instrument extended maturity date

Jul. 25, 2027

$1.2 Billion Credit Facility [Member] | $300 Million Term Loan Facility [Member]

Debt Details [Line Items]

Term loan facility, maximum borrowing capacity

$ 300,000,000

Debt instrument extended maturity date

Jan. 31, 2028

$1.2 Billion Credit Facility [Member] | $300 Million Term Loan Facility [Member] | Loan Funded At Closing [Member]

Debt Details [Line Items]

Debt instrument, face amount

200,000,000

$1.2 Billion Credit Facility [Member] | $300 Million Term Loan Facility [Member] | Delayed Draw Term Loan [Member]

Debt Details [Line Items]

Debt instrument, description

$150 million delayed draw option until 180 days from closing), of which $200 million was funded at closing

Term loan facility, remaining available capacity

150,000,000

$850 Million Credit Facility Amended and Restated [Member] | $425 Million Unsecured Revolving Credit Facility [Member] | Prior To Refinancing [Member]

Debt Details [Line Items]

Repayments of debt

50,000,000

Revolving Credit Facility [Member]

Debt Details [Line Items]

Line of credit facility, maximum borrowing capacity

425,000,000

Debt instrument, maturity date

[1],[2]

Jul. 25, 2026

SOFR spread adjustment rate

[1],[2],[3]

0.10%

Revolving Credit Facility [Member] | 2022 Debt Refinancing [Member]

Debt Details [Line Items]

Line of credit facility, maximum borrowing capacity

$ 650,000,000

Debt instrument, maturity date

Jul. 25, 2026

SOFR spread adjustment rate

0.10%

Revolving Credit Facility [Member] | Prior To Refinancing [Member]

Debt Details [Line Items]

Line of credit facility, maximum borrowing capacity

$ 425,000,000

Debt instrument, maturity date

Jul. 27, 2022

Revolving Credit Facility [Member] | 2019 $85 Million Unsecured Term Loan Facility [Member]

Debt Details [Line Items]

Line of credit facility, maximum borrowing capacity

$ 425,000,000

Minimum [Member] | 2017 $85 Million Unsecured Term Loan Facility [Member] | SOFR Interest Rate Margin [Member]

Debt Details [Line Items]

Debt instrument, basis spread on variable rate

1.30%

Minimum [Member] | 2019 $85 Million Unsecured Term Loan Facility [Member] | SOFR Interest Rate Margin [Member]

Debt Details [Line Items]

Debt instrument, basis spread on variable rate

1.70%

Minimum [Member] | $50 Million Senior Notes [Member]

Debt Details [Line Items]

Note payable, fixed annual interest rate

3.60%

Minimum [Member] | $75 Million Senior Notes [Member]

Debt Details [Line Items]

Note payable, fixed annual interest rate

4.88%

Minimum [Member] | Mortgage Debt [Member]

Debt Details [Line Items]

Note payable, fixed annual interest rate

3.40%

Effective interest rates

3.40%

Minimum [Member] | $225 Million Unsecured Term Loan Facility [Member] | SOFR Interest Rate Margin [Member]

Debt Details [Line Items]

Debt instrument, basis spread on variable rate

1.35%

Minimum [Member] | Unsecured Credit Facility

Debt Details [Line Items]

Ratio of adjusted consolidated EBITDA to consolidated fixed charges

1.50

Ratio of unencumbered adjusted NOI to consolidated implied interest expense

Minimum [Member] | $1.2 Billion Credit Facility [Member] | SOFR Interest Rate Margin [Member]

Debt Details [Line Items]

Debt instrument, basis spread on variable rate

1.35%

Minimum [Member] | $1.2 Billion Unsecured Credit Facility [Member] | $650 Million Revolving Credit Facility [Member]

Debt Details [Line Items]

Line of credit facility, unused capacity, commitment fee percentage

0.20%

Minimum [Member] | Revolving Credit Facility [Member]

Debt Details [Line Items]

Debt instrument, basis spread on variable rate

[1],[2]

1.40%

[4]

1.40%

[3]

Minimum [Member] | Revolving Credit Facility [Member] | 2022 Debt Refinancing [Member]

Debt Details [Line Items]

Debt instrument, basis spread on variable rate

1.40%

Minimum [Member] | Revolving Credit Facility [Member] | Prior To Refinancing [Member]

Debt Details [Line Items]

Debt instrument, basis spread on variable rate

[4]

1.40%

Maximum [Member] | 2017 $85 Million Unsecured Term Loan Facility [Member] | SOFR Interest Rate Margin [Member]

Debt Details [Line Items]

Debt instrument, basis spread on variable rate

2.10%

Maximum [Member] | 2019 $85 Million Unsecured Term Loan Facility [Member] | SOFR Interest Rate Margin [Member]

Debt Details [Line Items]

Debt instrument, basis spread on variable rate

2.55%

Maximum [Member] | $50 Million Senior Notes [Member]

Debt Details [Line Items]

Note payable, fixed annual interest rate

4.35%

Maximum [Member] | $75 Million Senior Notes [Member]

Debt Details [Line Items]

Note payable, fixed annual interest rate

5.63%

Maximum [Member] | Mortgage Debt [Member]

Debt Details [Line Items]

Note payable, fixed annual interest rate

4.46%

Effective interest rates

4.68%

Maximum [Member] | $225 Million Unsecured Term Loan Facility [Member] | SOFR Interest Rate Margin [Member]

Debt Details [Line Items]

Debt instrument, basis spread on variable rate

2.50%

Maximum [Member] | Unsecured Credit Facility

Debt Details [Line Items]

Ratio of consolidated total indebtedness to consolidated EBITDA

7.25

Ratio of consolidated secured indebtedness to consolidated total assets

45%

Ratio of un secured indebtedness to unencumbered asset value ("Maximum Unsecured Leverage Ratio")

60%

Ratio of secured recourse indebtedness to consolidated total assets

10%

Maximum [Member] | $1.2 Billion Credit Facility [Member] | SOFR Interest Rate Margin [Member]

Debt Details [Line Items]

Debt instrument, basis spread on variable rate

2.25%

Maximum [Member] | $1.2 Billion Unsecured Credit Facility [Member] | $650 Million Revolving Credit Facility [Member]

Debt Details [Line Items]

Annual rate on unused facility fee

0.25%

Maximum [Member] | Revolving Credit Facility [Member]

Debt Details [Line Items]

Debt instrument, basis spread on variable rate

[1],[2]

2.25%

[4]

2.25%

[3]

Maximum [Member] | Revolving Credit Facility [Member] | 2022 Debt Refinancing [Member]

Debt Details [Line Items]

Debt instrument, basis spread on variable rate

2.25%

Maximum [Member] | Revolving Credit Facility [Member] | Prior To Refinancing [Member]

Debt Details [Line Items]

Debt instrument, basis spread on variable rate

[4]

2.25%

[1] Excludes unamortized debt issuance costs related to the Revolving Credit Facility totaling approximately $ 5.1 million as of September 30, 2022 and related to the $ 425 million revolving credit facility totaling approximately $ 1.0 million as of December 31, 2021 , which are included in other assets, net in the Company’s consolidated balance sheets. On July 25, 2022, the Company entered into an amendment and restatement of its $ 850 million credit facility, which among other things increased the borrowing capacity to $ 1.2 billion and extended the maturity dates. See the $ 1.2 Billion Credit Facility section above for details. In July 2022, the Company amended each of its unsecured credit facilities to replace LIBOR with SOFR as the reference rate plus a 0.10 % SOFR spread adjustment. Interest rates on all of the unsecured credit facilities increased to 0.15 % above the highest rate shown for each loan during the Extended Covenant Waiver Period (as defined below) from March 1, 2021 through July 28, 2021.

Debt - Summary of Debt Refinanc

Debt - Summary of Debt Refinancing (Details) - USD ($)			1 Months Ended		9 Months Ended
Debt - Summary of Debt Refinancing (Details) - USD ($)		Jul. 25, 2022	Dec. 31, 2021		Sep. 30, 2022		Jul. 31, 2022	Jun. 02, 2022
Debt Instrument [Line Items]
SOFR spread adjustment rate					0.10%		0.10%
2022 Debt Refinancing [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 1,225,000,000
Prior to Refinancing [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 850,000,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 425,000,000
Debt instrument, maturity date	[1],[2]				Jul. 25, 2026
Interest Rate, Description	[1],[2]		LIBOR + 1.40% - 2.25%	[3]	SOFR + 0.10% + 1.40% - 2.25%	[4]
SOFR spread adjustment rate	[1],[2],[4]				0.10%
Revolving Credit Facility [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	[1],[2]		1.40%	[3]	1.40%	[4]
Revolving Credit Facility [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	[1],[2]		2.25%	[3]	2.25%	[4]
Revolving Credit Facility [Member] \| 2022 Debt Refinancing [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 650,000,000
Debt instrument, maturity date		Jul. 25, 2026
Interest Rate, Description		SOFR + 0.10% + 1.40% - 2.25%
SOFR spread adjustment rate		0.10%
Revolving Credit Facility [Member] \| 2022 Debt Refinancing [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.40%
Revolving Credit Facility [Member] \| 2022 Debt Refinancing [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.25%
Revolving Credit Facility [Member] \| Prior to Refinancing [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 425,000,000		$ 425,000,000			$ 425,000,000
Debt instrument, maturity date					Jul. 27, 2022
Interest Rate, Description	[3]				LIBOR + 1.40% - 2.25%
Revolving Credit Facility [Member] \| Prior to Refinancing [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	[3]				1.40%
Revolving Credit Facility [Member] \| Prior to Refinancing [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	[3]				2.25%
Term Loan Facility One [Member] \| 2022 Debt Refinancing [Member]
Debt Instrument [Line Items]
Term loan facility, maximum borrowing capacity		$ 275,000,000
Debt instrument, maturity date		Jul. 25, 2027
Interest Rate, Description		SOFR + 0.10% + 1.35% - 2.20%
SOFR spread adjustment rate		0.10%
Term Loan Facility One [Member] \| 2022 Debt Refinancing [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.35%
Term Loan Facility One [Member] \| 2022 Debt Refinancing [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.20%
Term Loan Facility One [Member] \| Prior to Refinancing [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 200,000,000
Debt instrument, maturity date					Jul. 27, 2023
Interest Rate, Description	[3]				LIBOR + 1.35% - 2.20%
Term Loan Facility One [Member] \| Prior to Refinancing [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	[3]				1.35%
Term Loan Facility One [Member] \| Prior to Refinancing [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	[3]				2.20%
Term Loan Facility Two [Member] \| 2022 Debt Refinancing [Member]
Debt Instrument [Line Items]
Term loan facility, maximum borrowing capacity		$ 300,000,000
Debt instrument, maturity date		Jan. 31, 2028
Interest Rate, Description		SOFR + 0.10% + 1.35% - 2.20%
SOFR spread adjustment rate		0.10%
Term Loan Facility Two [Member] \| 2022 Debt Refinancing [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.35%
Term Loan Facility Two [Member] \| 2022 Debt Refinancing [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.20%
Term Loan Facility Two [Member] \| Prior to Refinancing [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 225,000,000
Debt instrument, maturity date					Jan. 31, 2024
Interest Rate, Description	[3]				LIBOR + 1.35% - 2.20%
Term Loan Facility Two [Member] \| Prior to Refinancing [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	[3]				1.35%
Term Loan Facility Two [Member] \| Prior to Refinancing [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	[3]				2.20%

[1] Excludes unamortized debt issuance costs related to the Revolving Credit Facility totaling approximately $ 5.1 million as of September 30, 2022 and related to the $ 425 million revolving credit facility totaling approximately $ 1.0 million as of December 31, 2021 , which are included in other assets, net in the Company’s consolidated balance sheets. On July 25, 2022, the Company entered into an amendment and restatement of its $ 850 million credit facility, which among other things increased the borrowing capacity to $ 1.2 billion and extended the maturity dates. See the $ 1.2 Billion Credit Facility section above for details. Interest rates on all of the unsecured credit facilities increased to 0.15 % above the highest rate shown for each loan during the Extended Covenant Waiver Period (as defined below) from March 1, 2021 through July 28, 2021. In July 2022, the Company amended each of its unsecured credit facilities to replace LIBOR with SOFR as the reference rate plus a 0.10 % SOFR spread adjustment.

Debt - Summary of Debt Refina_2

Debt - Summary of Debt Refinancing (Parenthetical) (Details)	Jul. 28, 2021
Debt Instrument [Line Items]
Interest rate increase above highest rate	0.15%
Unsecured Credit Facility [Member]
Debt Instrument [Line Items]
Interest rate increase above highest rate	0.15%

Debt - Schedule of Unsecured Cr

Debt - Schedule of Unsecured Credit Facilities (Details) - USD ($) $ in Thousands		1 Months Ended		9 Months Ended		12 Months Ended
		Dec. 31, 2021		Sep. 30, 2022		Dec. 31, 2021		Jul. 31, 2022
Debt Instrument [Line Items]
Outstanding Balance		$ 1,444,046		$ 1,326,803		$ 1,444,046
Revolving credit facility outstanding balance	[1]	76,000				76,000
Unamortized debt issuance costs				(9,327)
Term loans and senior notes, net	[1]	865,189		986,904		865,189
Credit facilities, net		$ 1,438,758		$ 1,318,319		$ 1,438,758
Weighted-average interest rate		3.38%		3.72%		3.38%
SOFR spread adjustment rate				0.10%				0.10%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument Issuance Date1	[2],[3]			Jul. 25, 2022
Interest Rate, Description	[2],[3]	LIBOR + 1.40% - 2.25%	[4]	SOFR + 0.10% + 1.40% - 2.25%	[5]
Maturity Date	[2],[3]			Jul. 25, 2026
Revolving credit facility outstanding balance	[2],[3],[6]	$ 76,000				$ 76,000
SOFR spread adjustment rate	[2],[3],[5]			0.10%
Revolving Credit Facility [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	[2],[3]	1.40%	[4]	1.40%	[5]
Revolving Credit Facility [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	[2],[3]	2.25%	[4]	2.25%	[5]
Million275 Term Loan [Member]
Debt Instrument [Line Items]
Debt Instrument Issuance Date1	[3]			Jul. 25, 2022
Interest Rate, Description	[3],[5]			SOFR + 0.10% + 1.35% - 2.20%
Maturity Date	[3]			Jul. 25, 2027
Outstanding Balance	[3]			$ 275,000
SOFR spread adjustment rate	[3],[5]			0.10%
Million275 Term Loan [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	[3],[5]			1.35%
Million275 Term Loan [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	[3],[5]			2.20%
$200 Million Term Loan [Member]
Debt Instrument [Line Items]
Debt Instrument Issuance Date1	[3]			Jul. 27, 2018
Interest Rate, Description	[3],[4],[6]	LIBOR + 1.35% - 2.20%
Maturity Date	[3]			Jul. 25, 2022
Outstanding Balance	[3]	$ 200,000				$ 200,000
$200 Million Term Loan [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	[3],[4]	1.35%
$200 Million Term Loan [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	[3],[4]					2.20%
Million300 Term Loan [Member]
Debt Instrument [Line Items]
Debt Instrument Issuance Date1	[3]			Jul. 25, 2022
Interest Rate, Description	[3],[5]			SOFR + 0.10% + 1.35% - 2.20%
Maturity Date	[3]			Jan. 31, 2028
Outstanding Balance	[3]			$ 200,000
SOFR spread adjustment rate	[3],[5]			0.10%
Million300 Term Loan [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	[3],[5]			1.35%
Million300 Term Loan [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	[3],[5]			2.20%
$225 Million Term Loan [Member]
Debt Instrument [Line Items]
Debt Instrument Issuance Date1	[3]			Jul. 27, 2018
Interest Rate, Description	[3],[4]	LIBOR + 1.35% - 2.20%
Maturity Date	[3]			Jul. 25, 2022
Outstanding Balance	[3]	$ 225,000				$ 225,000
$225 Million Term Loan [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	[3],[4]	1.35%
$225 Million Term Loan [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	[3],[4]	2.20%
$50 Million Term Loan [Member]
Debt Instrument [Line Items]
Debt Instrument Issuance Date1				Aug. 02, 2018
Interest Rate, Description		LIBOR + 1.35% - 2.20%	[4]	SOFR + 0.10% + 1.35% - 2.20%	[5]
Maturity Date				Aug. 02, 2023
Outstanding Balance		$ 50,000		$ 50,000		50,000
SOFR spread adjustment rate	[5]			0.10%
$50 Million Term Loan [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate		1.35%	[4]	1.35%	[5]
$50 Million Term Loan [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate		2.20%	[4]	2.20%	[5]
$175 Million Term Loan [Member]
Debt Instrument [Line Items]
Debt Instrument Issuance Date1				Aug. 02, 2018
Interest Rate, Description		LIBOR + 1.65% - 2.50%	[4]	SOFR + 0.10% + 1.65% - 2.50%	[5]
Maturity Date				Aug. 02, 2025
Outstanding Balance		$ 175,000		$ 175,000		175,000
SOFR spread adjustment rate	[5]			0.10%
$175 Million Term Loan [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate		1.65%	[4]	1.65%	[5]
$175 Million Term Loan [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate		2.50%	[4]	2.50%	[5]
2017 $85 Million Term Loan [Member]
Debt Instrument [Line Items]
Debt Instrument Issuance Date1				Jul. 25, 2017
Interest Rate, Description		LIBOR + 1.30% - 2.10%	[4]	SOFR + 0.10% + 1.30% - 2.10%	[5]
Maturity Date				Jul. 25, 2024
Outstanding Balance		$ 85,000		$ 85,000		85,000
SOFR spread adjustment rate	[5]			0.10%
2017 $85 Million Term Loan [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate		1.30%	[4]	1.30%	[5]
2017 $85 Million Term Loan [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate		2.10%	[4]	2.10%	[5]
2019 $85 Million Unsecured Term Loan Facility [Member]
Debt Instrument [Line Items]
Debt Instrument Issuance Date1				Dec. 31, 2019
Interest Rate, Description		LIBOR + 1.70% - 2.55%	[4]	SOFR + 0.10% + 1.70% - 2.55%	[5]
Maturity Date				Dec. 31, 2029
Outstanding Balance		$ 85,000		$ 85,000		85,000
SOFR spread adjustment rate	[5]			0.10%
2019 $85 Million Unsecured Term Loan Facility [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate		1.70%	[4]	1.70%	[5]
2019 $85 Million Unsecured Term Loan Facility [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate		2.55%	[4]	2.55%	[5]
$50 Million Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument Issuance Date1				Mar. 16, 2020
Interest Rate, Description		3.60% - 4.35%	[4]	3.60% - 4.35	[5]
Maturity Date				Mar. 31, 2030
Outstanding Balance		$ 50,000		$ 50,000		$ 50,000
$50 Million Senior Notes [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Interest Rate		3.60%	[4]	3.60%	[5]	3.60%	[4]
$50 Million Senior Notes [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Interest Rate		4.35%	[4]	4.35%	[5]	4.35%	[4]
$75 Million Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument Issuance Date1				Jun. 02, 2022
Interest Rate, Description	[5]			4.88% - 5.63%
Maturity Date				Jun. 02, 2029
Outstanding Balance				$ 75,000
$75 Million Senior Notes [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Interest Rate	[5]			4.88%
$75 Million Senior Notes [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Interest Rate	[5]			5.63%
Term Loans and Senior Loans, Net [Member]
Debt Instrument [Line Items]
Outstanding Balance		$ 870,000		$ 995,000		$ 870,000
Unamortized debt issuance costs		(4,811)		(8,096)		(4,811)
Term loans and senior notes, net		865,189		986,904		865,189
Credit Facilities, Net [Member]
Debt Instrument [Line Items]
Credit facilities, net	[2]	$ 941,189		$ 986,904		$ 941,189
Weighted-average interest rate	[7]	2.97%		3.64%		2.97%

[1] On July 25, 2022, the Company entered into an amendment and restatement of its $ 850 million credit facility (defined below), which among other things increased the borrowing capacity to $ 1.2 billion and extended the maturity dates. See the $1.2 Billion Credit Facility section below for details. Excludes unamortized debt issuance costs related to the Revolving Credit Facility totaling approximately $ 5.1 million as of September 30, 2022 and related to the $ 425 million revolving credit facility totaling approximately $ 1.0 million as of December 31, 2021 , which are included in other assets, net in the Company’s consolidated balance sheets. On July 25, 2022, the Company entered into an amendment and restatement of its $ 850 million credit facility, which among other things increased the borrowing capacity to $ 1.2 billion and extended the maturity dates. See the $ 1.2 Billion Credit Facility section above for details. Interest rates on all of the unsecured credit facilities increased to 0.15 % above the highest rate shown for each loan during the Extended Covenant Waiver Period (as defined below) from March 1, 2021 through July 28, 2021. In July 2022, the Company amended each of its unsecured credit facilities to replace LIBOR with SOFR as the reference rate plus a 0.10 % SOFR spread adjustment. Interest rates on all of the unsecured credit facilities increased to 0.15 % above the highest rate shown for each loan during the Extended Covenant Waiver Period (as defined below) from March 1, 2021 through July 28, 2021. Interest rate represents the weighted-average effective annual interest rate at the balance sheet date which includes the effect of interest rate swaps in effect on $ 695.0 million and $ 770.0 million of the outstanding variable-rate debt as of September 30, 2022 and December 31, 2021, respectively. See Note 5 for more information on the interest rate swap agreements. The one-month SOFR at September 30, 2022 was 3.04 %. As of December 31, 2021 , the Company's interest rate swap agreements were based on the one-month LIBOR of 0.10 %.

Debt - Schedule of Unsecured _2

Debt - Schedule of Unsecured Credit Facilities (Parentheticals) (Details) - USD ($)	Jul. 28, 2021	Sep. 30, 2022	Jul. 31, 2022	Jul. 25, 2022	Dec. 31, 2021
Debt Details [Line Items]
Interest rate increase above highest rate	0.15%
Debt issuance costs, net		$ 9,327,000
Outstanding Balance		$ 1,326,803,000			$ 1,444,046,000
S O F R Spread Adjustment Rate		0.10%	0.10%
London Interbank Offered Rate (LIBOR) [Member]
Debt Details [Line Items]
Debt Instrument, Basis of Variable Rate					0.10%
Secured Overnight Financing Rate (SOFR) [Member]
Debt Details [Line Items]
Debt Instrument, Basis of Variable Rate		3.04%
Outstanding Variable-Rate Debt Effectively Fixed By Interest Rate Swaps [Member]
Debt Details [Line Items]
Derivative, notional amount		$ 695,000,000			$ 770,000,000
Prior to Refinancing [Member]
Debt Details [Line Items]
Line of credit facility, maximum borrowing capacity		850,000,000
Unsecured Credit Facility
Debt Details [Line Items]
Interest rate increase above highest rate	0.15%
Revolving Credit Facilities [Member]
Debt Details [Line Items]
Debt issuance costs, net		5,100,000			1,000,000
Line of credit facility, maximum borrowing capacity					$ 425,000,000
$850 Million Unsecured Credit Facility [Member] \| Prior to Refinancing [Member]
Debt Details [Line Items]
Line of credit facility, maximum borrowing capacity		850,000,000		$ 850,000,000
$850 Million Unsecured Credit Facility [Member] \| Prior to Refinancing [Member] \| Amendment and Restatement [Member]
Debt Details [Line Items]
Line of credit facility, maximum borrowing capacity				850,000,000
$1.2 Billion Credit Facility [Member]
Debt Details [Line Items]
Line of credit facility, maximum borrowing capacity		$ 1,200,000,000		$ 1,200,000,000
S O F R Spread Adjustment Rate		0.10%

Debt - Schedule of Mortgage Deb

Debt - Schedule of Mortgage Debt Obligations (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2022		Dec. 31, 2021	Aug. 16, 2021
Debt Instrument [Line Items]
Outstanding Balance		$ 1,326,803		$ 1,444,046
Unamortized fair value adjustment of assumed debt		843
Unamortized debt issuance costs		(9,327)
Total		$ 331,415		497,569
Residence Inn, Seattle, Washington [Member]
Debt Instrument [Line Items]
Interest Rate		4%	[1],[2]		4%
Loan Assumption or Origination Date	[2]	Aug. 16, 2021
Note payable, principal assumed or originated		$ 56,000	[2],[3]		$ 56,000
Outstanding Balance	[2],[3]			56,000
Hilton Garden Inn Grapevine, TX [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.89%
Loan Assumption or Origination Date		Aug. 29, 2012
Note payable, principal assumed or originated	[4]	$ 11,810
Outstanding Balance	[4]			9,075
Courtyard Collegeville/Philadelphia, PA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.89%
Loan Assumption or Origination Date		Aug. 30, 2012
Note payable, principal assumed or originated	[4]	$ 12,650
Outstanding Balance	[4]			9,720
Courtyard Hattiesburg, MS [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	5%
Loan Assumption or Origination Date		Mar. 01, 2014
Note payable, principal assumed or originated	[4]	$ 5,732
Outstanding Balance	[4]			4,550
Courtyard Kirkland, WA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	5%
Loan Assumption or Origination Date		Mar. 01, 2014
Note payable, principal assumed or originated	[4]	$ 12,145
Outstanding Balance	[4]			9,640
Courtyard Rancho Bernardo / San Diego, CA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	5%
Loan Assumption or Origination Date		Mar. 01, 2014
Note payable, principal assumed or originated	[4]	$ 15,060
Outstanding Balance	[4]			11,954
Residence Inn Seattle, WA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.96%
Loan Assumption or Origination Date		Mar. 01, 2014
Note payable, principal assumed or originated	[4]	$ 28,269
Outstanding Balance	[4]			22,412
Embassy Suites Anchorage, AK [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.97%
Loan Assumption or Origination Date		Sep. 13, 2012
Note payable, principal assumed or originated	[5]	$ 23,230
Outstanding Balance	[5]			17,959
Courtyard Somerset, NJ [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.73%
Loan Assumption or Origination Date		Mar. 01, 2014
Note payable, principal assumed or originated	[5]	$ 8,750
Outstanding Balance	[5]			6,903
Homewood Suites Tukwila, WA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.73%
Loan Assumption or Origination Date		Mar. 01, 2014
Note payable, principal assumed or originated	[5]	$ 9,431
Outstanding Balance	[5]			7,440
Homewood Suites Huntsville, AL [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.12%
Loan Assumption or Origination Date		Mar. 01, 2014
Maturity Date		Feb. 06, 2023
Note payable, principal assumed or originated		$ 8,306
Outstanding Balance		$ 6,264		6,473
Courtyard Prattville, AL [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.12%
Loan Assumption or Origination Date		Mar. 01, 2014
Maturity Date		Feb. 06, 2023
Note payable, principal assumed or originated		$ 6,596
Outstanding Balance		$ 4,975		5,141
Residence Inn San Diego, CA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	3.97%
Loan Assumption or Origination Date		Mar. 01, 2014
Maturity Date		Mar. 06, 2023
Note payable, principal assumed or originated		$ 18,600
Outstanding Balance		$ 13,987		14,456
Homewood Suites Miami, FL [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.02%
Loan Assumption or Origination Date		Mar. 01, 2014
Maturity Date		Apr. 01, 2023
Note payable, principal assumed or originated		$ 16,677
Outstanding Balance		$ 12,582		13,000
Homewood Suites New Orleans, LA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.36%
Loan Assumption or Origination Date		Jul. 17, 2014
Maturity Date		Aug. 11, 2024
Note payable, principal assumed or originated		$ 27,000
Outstanding Balance		$ 21,370		21,981
Residence Inn Westford, MA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.28%
Loan Assumption or Origination Date		Mar. 18, 2015
Maturity Date		Apr. 11, 2025
Note payable, principal assumed or originated		$ 10,000
Outstanding Balance		$ 8,099		8,320
Hilton Garden Inn Denver, CO [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.46%
Loan Assumption or Origination Date		Sep. 01, 2016
Maturity Date		Jun. 11, 2025
Note payable, principal assumed or originated		$ 34,118
Outstanding Balance		$ 28,659		29,415
Courtyard Oceanside, CA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.28%
Loan Assumption or Origination Date		Sep. 01, 2016
Maturity Date		Oct. 01, 2025
Note payable, principal assumed or originated		$ 13,655
Outstanding Balance		$ 12,095		12,318
Hilton Garden Inn Omaha, NE [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.28%
Loan Assumption or Origination Date		Sep. 01, 2016
Maturity Date		Oct. 01, 2025
Note payable, principal assumed or originated		$ 22,681
Outstanding Balance		$ 20,090		20,460
Hampton Boise, ID [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.37%
Loan Assumption or Origination Date		May 26, 2016
Maturity Date		Jun. 11, 2026
Note payable, principal assumed or originated		$ 24,000
Outstanding Balance		$ 21,318		21,680
Courtyard Burbank, CA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	3.55%
Loan Assumption or Origination Date		Nov. 03, 2016
Maturity Date		Dec. 01, 2026
Note payable, principal assumed or originated		$ 25,564
Outstanding Balance		$ 21,522		22,098
Courtyard San Diego, CA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	3.55%
Loan Assumption or Origination Date		Nov. 03, 2016
Maturity Date		Dec. 01, 2026
Note payable, principal assumed or originated		$ 25,473
Outstanding Balance		$ 21,445		22,019
Hampton San Diego, CA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	3.55%
Loan Assumption or Origination Date		Nov. 03, 2016
Maturity Date		Dec. 01, 2026
Note payable, principal assumed or originated		$ 18,963
Outstanding Balance		$ 15,964		16,392
SpringHill Suites Burbank, CA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	3.94%
Loan Assumption or Origination Date		Mar. 09, 2018
Maturity Date		Apr. 01, 2028
Note payable, principal assumed or originated		$ 28,470
Outstanding Balance		$ 25,256		25,845
Courtyard Santa Ana, CA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	3.94%
Loan Assumption or Origination Date		Mar. 09, 2018
Maturity Date		Apr. 01, 2028
Note payable, principal assumed or originated		$ 15,530
Outstanding Balance		$ 13,777		14,098
Courtyard Richmond, VA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	3.40%
Loan Assumption or Origination Date		Feb. 12, 2020
Maturity Date		Mar. 11, 2030
Note payable, principal assumed or originated		$ 14,950
Outstanding Balance		$ 14,222		14,447
Residence Inn Richmond, VA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	3.40%
Loan Assumption or Origination Date		Feb. 12, 2020
Maturity Date		Mar. 11, 2030
Note payable, principal assumed or originated		$ 14,950
Outstanding Balance		$ 14,222		14,447
Residence Inn Portland, ME [Member]
Debt Instrument [Line Items]
Interest Rate	[1],[6]	3.43%
Loan Assumption or Origination Date	[6]	Mar. 02, 2020
Maturity Date	[6]	Mar. 01, 2032
Note payable, principal assumed or originated	[6]	$ 33,500
Outstanding Balance	[6]	$ 30,500		33,500
Homewood Suites San Jose, CA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.22%
Loan Assumption or Origination Date		Dec. 22, 2017
Maturity Date		May 01, 2038
Note payable, principal assumed or originated		$ 30,000
Outstanding Balance		25,456		26,303
Aggregate Properties [Member]
Debt Instrument [Line Items]
Note payable, principal assumed or originated		572,110
Outstanding Balance		331,803		498,046
Unamortized fair value adjustment of assumed debt		843		1,010
Unamortized debt issuance costs		$ (1,231)		$ (1,487)

[1] Interest rates are the rates per the loan agreement. For loans assumed, the Company adjusted the interest rates per the loan agreement to market rates and is amortizing the adjustments to interest expense over the life of the loan. On August 16, 2021, the Company acquired the fee interest in the land at the Seattle, Washington Residence Inn, previously held under a finance ground lease, for a purchase price of $ 80.0 million, consisting of a $ 24.0 million cash payment and a one-year note payable to the seller for $ 56.0 million. Loan was repaid in full on June 16, 2022. Loans were repaid in full on June 30, 2022. Loans were repaid in full on August 1, 2022. Loan was amended effective March 1, 2022, in conjunction with a $ 3.0 million prepayment of loan principal. In addition, the maturity date of the loan was extended by two years to March 1, 2032 .

Debt - Schedule of Mortgage D_2

Debt - Schedule of Mortgage Debt Obligations (Parentheticals) (Details) - USD ($) $ in Thousands				9 Months Ended
		Mar. 01, 2022	Aug. 16, 2021	Sep. 30, 2022		Sep. 30, 2021
Debt Instrument [Line Items]
Cash payment						$ 197,228
Residence Inn, Seattle, Washington [Member]
Debt Instrument [Line Items]
Gross Purchase Price			$ 80,000
Cash payment			$ 24,000
Note payable term			1 year
Note payable, principal assumed or originated			$ 56,000	$ 56,000	[1],[2]
Residence Inn Portland, ME [Member]
Debt Instrument [Line Items]
Note payable, principal assumed or originated	[3]			$ 33,500
Mortgage Debt [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date, description				maturity dates ranging from February 2023 to May 2038,
Mortgage Debt [Member] \| Residence Inn Portland, ME [Member]
Debt Instrument [Line Items]
Prepayment of loan principal amount		$ 3,000
Debt instrument, maturity date, description		Loan was amended effective March 1, 2022, in conjunction with a $3.0 million prepayment of loan principal. In addition, the maturity date of the loan was extended by two years to March 1, 2032.
Debt instrument extended maturity date term		2 years
Debt instrument extended maturity date		Mar. 01, 2032

[1] Loan was repaid in full on June 16, 2022. On August 16, 2021, the Company acquired the fee interest in the land at the Seattle, Washington Residence Inn, previously held under a finance ground lease, for a purchase price of $ 80.0 million, consisting of a $ 24.0 million cash payment and a one-year note payable to the seller for $ 56.0 million. Loan was amended effective March 1, 2022, in conjunction with a $ 3.0 million prepayment of loan principal. In addition, the maturity date of the loan was extended by two years to March 1, 2032 .

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Additional Information (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($) Derivative_Instrument	Dec. 31, 2021 USD ($)
Fair Value of Financial Instruments [Line Items]
Debt, net	$ 1,318,319	$ 1,438,758
Long-term debt, fair value	1,300,000	$ 1,400,000
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months, net	$ 15,700
Secured Overnight Financing Rate (SOFR) [Member]
Fair Value of Financial Instruments [Line Items]
Variable Rate	0.10%
Interest Rate, Description	one-month SOFR plus a 0.10% SOFR spread adjustment
Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments [Line Items]
Number of interest rate swap agreements \| Derivative_Instrument	12

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Schedule of Interest Rate Swap Agreements (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2022	Dec. 31, 2021
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Fair value asset (liability)		$ 38,354	$ (15,508)
Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount		695,000
Fair value asset (liability)		38,354	$ (15,587)
Interest Rate Swap #1 [Member] \| Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount		$ 100,000
Origination Date		Apr. 07, 2016
Effective Date		Sep. 30, 2016
Maturity date		Mar. 31, 2023
Swap fixed interest rate	[1]	1.30%	1.33%
Fair value asset (liability)		$ 1,357	$ (955)
Interest Rate Swap #2 [Member] \| Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount		$ 75,000
Origination Date		May 31, 2017
Effective Date		Jul. 31, 2017
Maturity date		Jun. 30, 2024
Swap fixed interest rate	[1]	1.95%	1.96%
Fair value asset (liability)		$ 2,960	$ (1,902)
Interest Rate Swap #3 [Member] \| Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount		$ 10,000
Origination Date		Aug. 10, 2017
Effective Date		Aug. 10, 2017
Maturity date		Jun. 30, 2024
Swap fixed interest rate	[1]	2.02%	2.01%
Fair value asset (liability)		$ 380	$ (268)
Interest Rate Swap #4 [Member] \| Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount		$ 50,000
Origination Date		Jun. 01, 2018
Effective Date		Jan. 31, 2019
Maturity date		Jun. 30, 2025
Swap fixed interest rate	[1]	2.88%	2.89%
Fair value asset (liability)		$ 1,589	$ (3,123)
Interest Rate Swap #5 [Member] \| Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount		$ 50,000
Origination Date		Jul. 02, 2019
Effective Date		Jul. 05, 2019
Maturity date		Jul. 18, 2024
Swap fixed interest rate	[1]	1.64%	1.65%
Fair value asset (liability)		$ 2,274	$ (894)
Interest Rate Swap #6 [Member] \| Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount		$ 50,000
Origination Date		Aug. 21, 2019
Effective Date		Aug. 23, 2019
Maturity date		Aug. 18, 2024
Swap fixed interest rate	[1]	1.31%	1.32%
Fair value asset (liability)		$ 2,688	$ (457)
Interest Rate Swap #7 [Member] \| Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount		$ 50,000
Origination Date		Aug. 21, 2019
Effective Date		Aug. 23, 2019
Maturity date		Aug. 30, 2024
Swap fixed interest rate	[1]	1.32%	1.32%
Fair value asset (liability)		$ 2,719	$ (455)
Interest Rate Swap #8 [Member] \| Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount		$ 85,000
Origination Date		Dec. 31, 2019
Effective Date		Dec. 31, 2019
Maturity date		Dec. 31, 2029
Swap fixed interest rate	[1]	1.87%	1.86%
Fair value asset (liability)		$ 10,200	$ (3,277)
Interest Rate Swap #9 [Member] \| Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount		$ 25,000
Origination Date		Dec. 06, 2018
Effective Date		Jan. 31, 2020
Maturity date		Jun. 30, 2025
Swap fixed interest rate	[1]	2.74%	2.75%
Fair value asset (liability)		$ 884	$ (1,442)
Interest Rate Swap #10 [Member] \| Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount		$ 50,000
Origination Date		Dec. 07, 2018
Effective Date		May 18, 2020
Maturity date		Jan. 31, 2024
Swap fixed interest rate	[1]	2.71%	2.72%
Fair value asset (liability)		$ 1,040	$ (1,965)
Interest Rate Swap #11 [Member] \| Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount		$ 75,000
Origination Date		Aug. 21, 2019
Effective Date		May 18, 2020
Maturity date		May 18, 2025
Swap fixed interest rate	[1]	1.26%	1.27%
Fair value asset (liability)		$ 5,395	$ (458)
Interest Rate Swap #12 [Member] \| Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount		$ 75,000
Origination Date		Aug. 21, 2019
Effective Date		May 18, 2021
Maturity date		May 18, 2026
Swap fixed interest rate	[1]	1.29%	1.30%
Fair value asset (liability)		$ 6,868	$ (391)
Interest Rate Swap #13 [Member] \| Not Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount		$ 75,000
Origination Date		Jul. 31, 2020
Effective Date		Aug. 18, 2020
Maturity date		Aug. 18, 2022
Swap fixed interest rate	[1]		0.13%
Fair value asset (liability)			$ 79

[1] The fixed interest rate associated with each interest rate swap was amended in July 2022 as part of the swap amendments to replace LIBOR with SOFR as the reference rate.

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Derivative Instruments, Gain (Loss) Recognized (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivative Instruments Gain Loss Recognized [Abstract]
Net Unrealized Gain Recognized in Other Comprehensive Income	$ 17,130	$ 478	$ 50,649	$ 9,714
Net Unrealized Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) to Interest and Other Expense, net	$ 1,106	$ (2,948)	$ (3,213)	$ (8,438)

Related Parties - Additional In

Related Parties - Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Aircraft Owned by Executive Officers [Member] \| General and Administrative Expenses [Member]
Related Parties Details [Line Items]
Related Party Transaction, Amounts of Transaction	$ 100,000	$ 100,000
Reimbursement Received From Related Parties For Their Proportionate Share of Staffing and Office Related Costs Provided by Apple Hospitality [Member]
Related Parties Details [Line Items]
Related Party Transaction, Amounts of Transaction	(600,000)	$ (500,000)
Due from related parties	$ 200,000		$ 300,000
Cost Sharing Arrangement [Member]
Related Parties Details [Line Items]
Related party transaction, Description of transaction	To efficiently manage cash disbursements, the Company or ARG may make payments for the other company. Under this cash management process, each company may advance or defer up to $1 million at any time. Each quarter, any outstanding amounts are settled between the companies. This process allows each company to minimize its cash on hand and reduces the cost for each company. The amounts outstanding at any point in time are not significant to either of the companies.
Cost Sharing Arrangement [Member] \| Maximum [Member]
Related Parties Details [Line Items]
Related Party Transaction, Amounts of Transaction	$ 1,000,000

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Details) - USD ($)	1 Months Ended			2 Months Ended	3 Months Ended		9 Months Ended		26 Months Ended
	Oct. 31, 2022	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	May 31, 2022
Shareholders Equity Details [Line Items]
Common stock, dividends, per share, cash paid					$ 0.17	$ 0.01	$ 0.38	$ 0.02
Payments of ordinary dividends, common stock					$ 38,800,000	$ 2,300,000	$ 86,792,000	$ 4,510,000
Cash distribution, date declared	Oct. 31, 2022	Sep. 30, 2022
Cash distribution declared		$ 0.07		$ 0.07	$ 0.07		$ 0.07		$ 0.07
Cash distribution, date to be paid		Oct. 17, 2022
Quarterly distribution rate			$ 0.01
Accrued distribution		$ 15,981,000	$ 2,300,000	$ 15,981,000	$ 15,981,000	$ 2,279,000	$ 15,981,000	2,279,000	$ 15,981,000
Commissions and issuance costs					12,000		218,000
Proceeds from issuance of common stock, net							$ (218,000)	$ 75,036,000
Stock repurchase program, extended term							1 year
Stock repurchase program, authorized amount										$ 345,000,000
Share repurchase program, end period							2023-07
Number of shares repurchased							100,000
Stock repurchased value per share							$ 14.20
Stock repurchased value					1,376,000		$ 1,521,000
Stock repurchase program, remaining available for repurchase		343,500,000		343,500,000	343,500,000		343,500,000		343,500,000
ATM Program Executed August 12, 2020 [Member]
Shareholders Equity Details [Line Items]
Stock issuance program, authorized amount		300,000,000		300,000,000	300,000,000		$ 300,000,000		$ 300,000,000
Stock issued during period, shares, new issues (in shares)							0		4,700,000
Shares issued weighted average market sales price per share (in dollars per share)									$ 16.26
Proceeds from issuance of common stock, gross									$ 76,000,000
Commissions and issuance costs									900,000
Proceeds from issuance of common stock, net				75,100,000
Line of credit facility, maximum borrowing capacity		425,000,000		425,000,000	425,000,000		$ 425,000,000		425,000,000
Stock issuance program, available for issuance		$ 224,000,000		$ 224,000,000	$ 224,000,000		$ 224,000,000		$ 224,000,000

Compensation Plans - Additional

Compensation Plans - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
2022 Executive Management Incentive Plan [Member]
Compensation Plans Details [Line Items]
Incentive compensation, description			one-half (50%) of incentive compensation based on operational performance goals and metrics and one-half (50%) of incentive compensation based on shareholder return metrics. With respect to the shareholder return metrics, 75% of the target will be based on shareholder return relative to a peer group and 25% will be based on total shareholder return metrics over one-year, two-year, and three-year periods.
Operational performance metrics accounted for total target incentive compensation, percentage			50%
Percentage of relative shareholder return metrics on shareholder return metrics			75%
Percentage of total shareholder return metrics on shareholder return metrics			25%
Shareholder return metrics accounted for total target incentive compensation, percentage			50%
Operational performance goals and metrics percentage of the target based on modified funds			25%
Percentage of operational performance goals on target operating performance metrics			75%
Labor and related expense			$ 12,000,000
Accrued liability for potential executive bonus payments	$ 12,000,000		$ 12,000,000
Portion of awards paid in cash			25%
Portion of awards issued in equity			75%
2022 Executive Management Incentive Plan [Member] \| General and Administrative Expenses [Member]
Compensation Plans Details [Line Items]
Labor and related expense	$ 4,000,000
2021 Executive Management Incentive Plan [Member] \| General and Administrative Expenses [Member]
Compensation Plans Details [Line Items]
Labor and related expense		$ 7,000,000		$ 13,000,000
Potential Aggregate Payout [Member] \| 2022 Executive Management Incentive Plan [Member] \| Minimum [Member]
Compensation Plans Details [Line Items]
Labor and related expense			$ 0
Potential Aggregate Payout [Member] \| 2022 Executive Management Incentive Plan [Member] \| Maximum [Member]
Compensation Plans Details [Line Items]
Labor and related expense			$ 25,000,000
Share Based Compensation [Member] \| 2022 Executive Management Incentive Plan [Member] \| Equity Awards Issued in the First Quarter of 2023 [Member] \| Unrestricted Shares at Time of Issuance [Member]
Compensation Plans Details [Line Items]
Share-based compensation arrangement, vesting description			two-thirds
Share Based Compensation [Member] \| 2022 Executive Management Incentive Plan [Member] \| Equity Awards Issued in the First Quarter of 2023 [Member] \| Restricted Stock Vesting in December 2023 [Member]
Compensation Plans Details [Line Items]
Share-based compensation arrangement, vesting description			one-third

Compensation Plans - Informatio

Compensation Plans - Information Pertaining to Share-based Compensation Issued (Details) - Share Based Compensation [Member] - USD ($) $ / shares in Units, $ in Millions		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021
2021 Executive Management Incentive Plan [Member] \| Equity Awards Issued in the First Quarter of 2022 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Period common shares issued		First Quarter 2022
Common shares earned under each incentive plan		868,079
Common shares surrendered on issuance date to satisfy tax withholding obligations		245,597
Common shares earned and issued under each incentive plan, net of common shares surrendered on issuance date to satisfy tax withholding obligations		622,482
Closing stock price on issuance date		$ 17.79
Total share-based compensation earned, including the surrendered shares (in millions)	[1]	$ 15.4
Of the total common shares earned and issued, total common shares unrestricted at time of issuance		338,032
Of the total common shares earned and issued, total common shares restricted at time of issuance		284,450
Restricted common shares vesting date		Dec. 09, 2022
2020 Executive Management Incentive Plan [Member] \| Equity Awards Issued in the First Quarter of 2021 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Period common shares issued			First Quarter 2021
Common shares earned under each incentive plan			555,726
Common shares surrendered on issuance date to satisfy tax withholding obligations			117,647
Common shares earned and issued under each incentive plan, net of common shares surrendered on issuance date to satisfy tax withholding obligations			438,079
Closing stock price on issuance date			$ 14.03
Total share-based compensation earned, including the surrendered shares (in millions)	[2]		$ 7.8
Of the total common shares earned and issued, total common shares unrestricted at time of issuance			160,216
Of the total common shares earned and issued, total common shares restricted at time of issuance			277,863
Restricted common shares vesting date			Dec. 10, 2021
Common shares surrendered on vesting date to satisfy tax withholding requirements resulting from vesting of restricted common shares			108,292

[1] Of the total 2021 share-based compensation, approximately $ 12.9 million was recorded as a liability as of December 31, 2021 and is included in accounts payable and other liabilities in the Company’s consolidated balance sheet at December 31, 2021 . The remaining $ 2.5 million, which is subject to vesting on December 9, 2022 and excludes any restricted shares forfeited or vested prior to that date, will be recognized as share-based compensation expense proportionately throughout 2022. For the three and nine months ended September 30, 2022 , the Company recognized approximately $ 0.6 million and $ 1.9 million, respectively, of share-based compensation expense related to restricted share awards. Of the total 2020 share-based compensation, approximately $ 1.9 million, which vested on December 10, 2021, was recognized as share-based compensation expense proportionately throughout 2021. For the three and nine months ended September 30, 2021 , the Company recognized approximately $ 0.5 million and $ 1.5 million, respectively, of share-based compensation expense related to restricted share awards.

Compensation Plans - Informat_2

Compensation Plans - Information Pertaining to Share-based Compensation Issued (Parenthetical) (Details) - Share Based Compensation [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2022
2021 Executive Management Incentive Plan [Member] \| Equity Awards Issued in the First Quarter of 2022 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation recorded as liability					$ 12.9
Share-based compensation expense	$ 0.6		$ 1.9
2020 Executive Management Incentive Plan [Member] \| Equity Awards Issued in the First Quarter of 2021 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense		$ 0.5		$ 1.5	$ 1.9
Scenario Forecast [Member] \| 2021 Executive Management Incentive Plan [Member] \| Equity Awards Issued in the First Quarter of 2022 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation, subject to vesting						$ 2.5

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) $ / shares in Units, $ in Thousands			1 Months Ended		3 Months Ended		9 Months Ended
	Oct. 25, 2022 USD ($) Room	Oct. 17, 2022 USD ($) $ / shares	Oct. 31, 2022 $ / shares	Sep. 30, 2022 Room $ / shares	Sep. 30, 2022 USD ($) Room $ / shares	Sep. 30, 2021 USD ($) $ / shares	Sep. 30, 2022 USD ($) Room $ / shares	Sep. 30, 2021 USD ($) $ / shares
Subsequent Event [Line Items]
Payments of ordinary dividends, common stock					$ 38,800	$ 2,300	$ 86,792	$ 4,510
Common stock, dividends, per share, cash paid \| $ / shares					$ 0.17	$ 0.01	$ 0.38	$ 0.02
Cash distribution declared \| $ / shares				$ 0.07	$ 0.07		$ 0.07
Cash distribution, date declared			Oct. 31, 2022	Sep. 30, 2022
Cash distribution, date to be paid				Oct. 17, 2022
Rooms \| Room				28,693	28,693		28,693
Proceeds from term loan facility							$ 125,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Payments of ordinary dividends, common stock		$ 16,000
Common stock, dividends, per share, cash paid \| $ / shares		$ 0.07
Cash distribution, date of record		Oct. 04, 2022	Nov. 02, 2022
Cash distribution declared \| $ / shares			$ 0.08
Cash distribution, date to be paid			Nov. 15, 2022
Proceeds from term loan facility	$ 50,000
Term loan facility, maximum borrowing capacity	$ 575,000
Subsequent Event [Member] \| AC Hotels in Louisville, Kentucky [Member]
Subsequent Event [Line Items]
Rooms \| Room	156
Subsequent Event [Member] \| AC Hotels in Pittsburgh , Pennsylvania [Member]
Subsequent Event [Line Items]
Rooms \| Room	134
Subsequent Event [Member] \| AC Hotels in Louisville, Kentucky Pittsburgh , Pennsylvania [Member]
Subsequent Event [Line Items]
Gross purchase price	$ 85,000
Subsequent Event [Member] \| Delayed Draw Term Loan [Member]
Subsequent Event [Line Items]
Term loan facility, remaining available capacity	$ 50,000