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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 49,628 $ 63,790
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 87,805 77,304
Corporate asset depreciation as corporate expenses 170 161
Loss on early extinguishment of debt 2,373 0
Non-cash lease expense and other amortization 5,247 3,842
Non-cash interest rate swap fair value adjustment 4,790 0
Amortization of debt issuance costs 1,432 1,384
Amortization of deferred income related to key money (297) (2,469)
Stock-based compensation 4,882 4,104
Changes in assets and liabilities:    
Prepaid expenses and other assets (5,623) 25,489
Due to/from hotel managers (18,119) (21,436)
Accounts payable and accrued expenses 3,420 (2,215)
Net cash provided by operating activities 135,708 149,954
Cash flows from investing activities:    
Hotel acquisitions 0 (119,537)
Purchase deposits 0 (2,000)
Proceeds from property insurance 0 30,742
Net cash used in investing activities (140,803) (167,548)
Cash flows from financing activities:    
Scheduled mortgage debt principal payments (10,374) (9,947)
Proceeds from sale of common stock, net 0 92,715
Proceeds from senior unsecured term loan 350,000 0
Repayments of senior unsecured term loans (300,000) 0
Draws on senior unsecured credit facility 125,000 85,000
Repayments of senior unsecured credit facility (50,000) (85,000)
Payment of financing costs (4,796) 0
Distributions on common stock and units (76,751) (76,520)
Repurchase of common stock (42,828) 0
Shares redeemed to satisfy tax withholdings on vested share based compensation (452) (149)
Net cash (used in) provided by financing activities (10,201) 6,099
Net decrease in cash, cash equivalents, and restricted cash (15,296) (11,495)
Cash, cash equivalents, and restricted cash at beginning of period 91,598 223,773
Cash, cash equivalents, and restricted cash at end of period 76,302 212,278
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest 32,604 28,462
Cash paid for income taxes 1,310 2,198
Capitalized interest 1,119 0
Non-cash cumulative effect of ASC 842 accounting standard adoption 15,286 0
Non-cash Investing and Financing Activities:    
Loan assumed in hotel acquisition 0 2,943
Total cash, cash equivalents, and restricted cash 76,302 223,773
Frenchman's Reef    
Cash flows from investing activities:    
Capital expenditures for operating hotels (65,208) 0
Operating hotels    
Cash flows from investing activities:    
Capital expenditures for operating hotels $ (75,595) $ (76,753)