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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Assets    
Investment in hotel properties, net $ 4,127,290 $ 4,219,116
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures 6,927 6,522
Cash and cash equivalents 511,481 665,341
Restricted cash reserves 44,281 48,528
Hotel and other receivables, net of allowance of $332 and $274, respectively 40,938 31,091
Operating Lease, Right-of-Use Asset 142,213 144,988
Prepaid expense and other assets 60,096 33,390
Total assets 4,933,226 5,148,976
Liabilities and Equity    
Debt, net 2,211,735 2,409,438
Accounts payable and other liabilities 139,115 155,136
Contract with Customer, Liability 18,583 20,047
Operating Lease, Liability 121,609 123,031
Accrued interest 18,617 19,110
Distributions payable 7,995 8,347
Total liabilities 2,517,654 2,735,109
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 June 30, 2022 and December 31, 2021 366,936 366,936
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 162,981,820 and 166,503,062 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively 1,630 1,665
Additional paid-in capital 3,053,345 3,092,883
Accumulated other comprehensive income (loss) 24,594 (17,113)
Retained Earnings (1,044,726) (1,046,739)
Total shareholders’ equity 2,401,779 2,397,632
Noncontrolling interests:    
Noncontrolling interest in consolidated joint ventures 7,468 9,919
Noncontrolling interest in the Operating Partnership 6,325 6,316
Total noncontrolling interests 13,793 16,235
Total equity 2,415,572 2,413,867
Total liabilities and equity $ 4,933,226 $ 5,148,976