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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Assets    
Investment in hotel properties, net $ 4,486,416 $ 4,614,966
Investment in unconsolidated joint ventures 6,798 15,171
Cash and cash equivalents 899,813 882,474
Restricted cash reserves 34,977 44,686
Hotel and other receivables, net of allowance of $292 and $251, respectively 13,346 39,762
Lease right-of-use assets 142,989 144,358
Deferred income tax asset, net 0 51,447
Prepaid expense and other assets 32,833 58,536
Total assets 5,617,172 5,851,400
Liabilities and Equity    
Debt, net 2,587,731 2,195,707
Accounts payable and other liabilities 172,325 183,408
Advance deposits and deferred revenue 32,177 57,459
Lease liabilities 122,593 121,154
Accrued interest 6,206 3,024
Distributions payable 8,752 64,165
Total liabilities 2,929,784 2,624,917
Commitments and Contingencies (Note 10)
Shareholders’ equity:    
Series A Cumulative Convertible Preferred Shares, $0.01 par value, 12,950,000 shares authorized; 12,879,475 shares issued and outstanding, liquidation value of $328,266, at December 31, 2020 and 2019 366,936 366,936
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 165,002,752 and 169,852,246 shares issued and outstanding at December 31, 2020 and 2019, respectively 1,650 1,699
Additional paid-in capital 3,077,142 3,127,982
Accumulated other comprehensive loss (69,050) (19,514)
Distributions in excess of net earnings (710,161) (274,769)
Total shareholders’ equity 2,666,517 3,202,334
Noncontrolling interest:    
Noncontrolling interest in consolidated joint ventures 13,002 14,065
Noncontrolling interest in the Operating Partnership 7,869 10,084
Total noncontrolling interest 20,871 24,149
Total equity 2,687,388 3,226,483
Total liabilities and equity $ 5,617,172 $ 5,851,400