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Supplemental Information to Statements of Cash Flows
 9 Months Ended
Sep. 30, 2016
Supplemental Cash Flow Elements [Abstract]  
Supplemental Information to Statements of Cash Flows
Supplemental Information to Statements of Cash Flows (in thousands)
 
 
For the nine months ended September 30,
 
2016
 
2015
Interest paid, net of capitalized interest
$
42,807

 
$
34,968

 
 
 
 
Income taxes paid
$
1,560

 
$
1,391

 
 
 
 
Supplemental investing and financing transactions
 
 
 
In conjunction with the acquisitions, the Company recorded the following:
 
 
 
Purchase of real estate
$
—

 
$
175,900

Restricted cash reserves
—

 
1,548

Accounts receivable
—

 
179

Other assets
—

 
120

Mortgage debt assumed
—

 
(33,389
)
Advance deposits
—

 
(46
)
Accounts payable and other liabilities
—

 
(543
)
Acquisition of hotel properties, net
$
—

 
$
143,769

 
 
 
 
In conjunction with the sale of hotel properties, the Company recorded the following:
 
 
 
Sale of hotel properties
$
2,850

 
$
238,450

Transaction costs
(122
)
 
(8,781
)
Operating prorations
(99
)
 
3,269

Proceeds from the sale of hotel properties, net
$
2,629

 
$
232,938

 
 
 
 
Supplemental non-cash transactions
 
 
 
Accrued capital expenditures
$
2,500

 
$
3,147

 
 
 
 
Redemption of Operating Partnership units
$
4,325

 
$
—