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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 8,887 $ 16,778
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 24,363 25,121
Corporate asset depreciation as corporate expenses 16 17
Non-cash ground rent 1,550 1,334
Amortization of debt issuance costs 542 588
Amortization of favorable and unfavorable contracts, net (478) (478)
Amortization of deferred income related to key money (709) (717)
Stock-based compensation 1,322 1,373
Changes in assets and liabilities:    
Prepaid expenses and other assets 1,849 797
Restricted cash (2,917) (1,371)
Due to/from hotel managers (8,314) (5,322)
Accounts payable and accrued expenses (4,204) (8,443)
Net cash provided by operating activities 21,907 29,677
Cash flows from investing activities:    
Hotel capital expenditures (35,807) (27,410)
Hotel acquisitions (93,795) 0
Change in restricted cash 5,753 3,713
Net cash used in investing activities (123,849) (23,697)
Cash flows from financing activities:    
Scheduled mortgage debt principal payments (2,921) (2,916)
Repayments of mortgage debt 0 (201,713)
Draws on senior unsecured credit facility 0 60,000
Payment of cash dividends (25,274) (25,347)
Repurchase of common stock (529) (685)
Net cash used in financing activities (28,724) (170,661)
Net decrease in cash and cash equivalents (130,666) (164,681)
Cash and cash equivalents, beginning of period 243,095 213,584
Cash and cash equivalents, end of period 112,429 48,903
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest 9,345 11,228
Cash paid for income taxes 398 359
Non-cash Investing and Financing Activities:    
Unpaid dividends $ 25,464 $ 25,489