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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Assets    
Investment in hotel properties, net $ 4,171,428 $ 4,219,116
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures 6,777 6,522
Cash and cash equivalents 488,146 665,341
Restricted cash reserves 51,504 48,528
Hotel and other receivables, net of allowance of $302 and $274, respectively 42,393 31,091
Operating Lease, Right-of-Use Asset 138,335 144,988
Prepaid expense and other assets 68,190 33,390
Total assets 4,966,773 5,148,976
Liabilities and Equity    
Debt, net 2,212,752 2,409,438
Accounts payable and other liabilities 150,946 155,136
Contract with Customer, Liability 21,987 20,047
Operating Lease, Liability 117,810 123,031
Accrued interest 9,492 19,110
Distributions payable 14,596 8,347
Total liabilities 2,527,583 2,735,109
Commitments and Contingencies (Note 11)
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 September 30, 2022 and December 31, 2021 366,936 366,936
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 162,726,642 and 166,503,062 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively 1,627 1,665
Additional paid-in capital 3,056,603 3,092,883
Accumulated other comprehensive income (loss) 41,805 (17,113)
Retained Earnings (1,041,610) (1,046,739)
Total shareholders’ equity 2,425,361 2,397,632
Noncontrolling interests:    
Noncontrolling interest in consolidated joint ventures 7,488 9,919
Noncontrolling interest in the Operating Partnership 6,341 6,316
Total noncontrolling interests 13,829 16,235
Total equity 2,439,190 2,413,867
Total liabilities and equity $ 4,966,773 $ 5,148,976