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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
ASSETS    
Property and equipment, net $ 2,944,617 $ 2,692,286
Restricted cash [1] 47,735 40,204
Due from hotel managers 86,914 86,621
Favorable lease assets, net 63,945 26,690
Prepaid and other assets 10,506 71,488
Cash and cash equivalents 43,863 183,569
Total assets 3,197,580 3,100,858
Liabilities:    
Mortgage and other debt, net of unamortized debt issuance costs 629,747 639,639
Term loans, net of unamortized debt issuance costs 348,219 298,153
Total debt 977,966 937,792
Deferred income related to key money, net 11,739 14,307
Unfavorable contract liabilities, net 73,151 70,734
Deferred ground rent 93,719 86,614
Due to hotel managers 72,678 74,213
Dividends and distributions declared and unpaid 26,339 25,708
Accounts payable and accrued expenses 51,395 57,845
Total liabilities 1,306,987 1,267,213
Equity:    
Preferred stock, $0.01 par value; 10,000,000 shares authorized; no shares issued and outstanding 0 0
Common stock, $0.01 par value; 400,000,000 shares authorized; 204,536,485 and 200,306,733 shares issued and outstanding at December 31, 2018 and 2017, respectively 2,045 2,003
Additional paid-in capital 2,126,472 2,061,451
Accumulated deficit (245,620) (229,809)
Total stockholders' equity 1,882,897 1,833,645
Noncontrolling interests 7,696 0
Total equity 1,890,593 1,833,645
Total liabilities, noncontrolling interests and stockholders’ equity $ 3,197,580 $ 3,100,858
[1] Restricted cash primarily consists of reserves for replacement of furniture and fixtures held by our hotel managers and cash held in escrow pursuant to lender requirements.