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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Property and equipment, net $ 2,765,646 $ 2,748,476
Right-of-use assets 97,552 99,047
Restricted cash 42,503 39,614
Due from hotel managers 167,695 176,708
Prepaid and other assets 80,188 76,131
Cash and cash equivalents 102,737 67,564
Total assets 3,256,321 3,207,540
Liabilities:    
Mortgage and other debt, net of unamortized debt issuance costs 379,914 386,655
Unsecured term loans, net of unamortized debt issuance costs 799,337 799,138
Senior unsecured credit facility 0 0
Total debt 1,179,251 1,185,793
Lease liabilities 111,832 110,875
Due to hotel managers 122,746 123,682
Deferred rent 68,291 65,097
Unfavorable contract liabilities, net 59,825 61,069
Accounts payable and accrued expenses 48,940 43,120
Distributions declared and unpaid 6,380 12,946
Deferred income related to key money, net 8,457 8,780
Total liabilities 1,605,722 1,611,362
Equity:    
Preferred stock, $0.01 par value; 10,000,000 shares authorized: 8.250% Series A Cumulative Redeemable Preferred Stock (liquidation preference $25.00 per share), 4,760,000 shares issued and outstanding at March 31, 2023 and December 31, 2022 48 48
Common stock, $0.01 par value; 400,000,000 shares authorized; 209,627,197 and 209,374,830 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively 2,096 2,094
Additional paid-in capital 2,289,501 2,288,433
Accumulated other comprehensive income 3,802 0
Distributions in excess of earnings (651,533) (700,694)
Total stockholders’ equity 1,643,914 1,589,881
Noncontrolling interests 6,685 6,297
Total equity 1,650,599 1,596,178
Total liabilities and equity $ 3,256,321 $ 3,207,540