ADDED
See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.
The number of common shares of beneficial interest outstanding as of February 20, 2026 was 113,768,346 .
As of December 31, 2025, the Company owned interests in 44 hotels with a total of 11,052 guest rooms.
At December 31, 2025, the Company owned 99.0% of the common limited partnership units issued by our Operating Partnership ("common units").
We focus on both branded and independent full-service "upper-upscale" hotels.
Curator We and three industry-leading hotel operators are founding members of Curator Hotel Resort Collection ("Curator"), a collection of small brands and independent lifestyle hotels and resorts worldwide.
Generally, our hotels have lower revenue, operating income and cash flow in the first and fourth quarters of each year and higher revenue, operating income and cash flow in the second and third quarters of each year.
7 Our properties must comply with Title III of the Americans with Disabilities Act (the "ADA") to the extent that such properties are "public accommodations" as defined by the ADA.
Therefore, a downturn in the lodging industry, in general, and markets in which we operate, in particular, would have a material adverse effect on our financial condition, results of operations, the market price of our common shares and our ability to make distributions to our shareholders.
We are subject to a franchisor's or operator's right of first offer, in some instances.
REMOVED
See the definitions of large accelerated filer, accelerated filer, smaller reporting company and "emerging growth company" in Rule 12b-2 of the Exchange Act.
The number of common shares of beneficial interest outstanding as of February 21, 2025 was 119,813,965 .
As of December 31, 2024, the Company owned interests in 46 hotels with a total of 11,933 guest rooms.
At December 31, 2024, the Company owned 99.2% of the common limited partnership units issued by our Operating Partnership ("common units").
We focus on both branded and independent full-service upper-upscale hotels.
Curator We and four industry-leading hotel operators are founding members of Curator Hotel Resort Collection, a collection of small brands and independent lifestyle hotels and resorts worldwide.
Generally, our hotels have lower revenue, operating income and cash flow in the first quarter of each year and higher revenue, operating income and cash flow in the third quarter of each year.
Our properties must comply with Title III of the Americans with Disabilities Act (the "ADA") to the extent that such properties are public accommodations as defined by the ADA.
Therefore, a downturn in the lodging industry, in general, and markets (especially West Coast major gateway metropolitan markets) in which we operate, in particular, would have a material adverse effect on our financial condition, results of operations, the market price of our common shares and our ability to make distributions to our shareholders.
10 If we cannot obtain financing, our growth will be limited.