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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 45,482 $ 60,953
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 49,948 50,126
Corporate asset depreciation as corporate expenses 32 34
Gain on sale of hotel properties 0 (8,121)
Loss on early extinguishment of debt 274 0
Non-cash ground rent 3,164 2,662
Amortization of debt issuance costs 1,028 1,215
Amortization of favorable and unfavorable contracts, net (956) (956)
Amortization of deferred income related to key money (1,042) (1,434)
Stock-based compensation 3,340 3,363
Changes in assets and liabilities:    
Prepaid expenses and other assets (3,261) (5,983)
Restricted cash 3,986 3,664
Due to/from hotel managers (20,258) (12,637)
Accounts payable and accrued expenses 5,623 1,720
Net cash provided by operating activities 87,360 94,606
Cash flows from investing activities:    
Hotel capital expenditures (60,403) (54,096)
Hotel acquisitions (93,795) 0
Net proceeds from sale of hotel properties 0 118,309
Change in restricted cash 2,094 3,529
Net cash (used in) provided by investing activities (152,104) 67,742
Cash flows from financing activities:    
Scheduled mortgage debt principal payments (5,870) (5,678)
Repayments of mortgage debt (170,368) (249,793)
Proceeds from senior unsecured term loan 200,000 100,000
Draws on senior unsecured credit facility 0 75,000
Repayments of senior unsecured credit facility 0 (75,000)
Payment of financing costs (1,579) (2,740)
Payment of cash dividends (50,360) (50,488)
Repurchase of common stock (529) (685)
Net cash used in financing activities (28,706) (209,384)
Net decrease in cash and cash equivalents (93,450) (47,036)
Cash and cash equivalents, beginning of period 243,095 213,584
Cash and cash equivalents, end of period 149,645 166,548
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest 18,015 22,407
Cash paid for income taxes 1,770 1,203
Non-cash Investing and Financing Activities:    
Unpaid dividends $ 25,548 $ 25,583