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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net income (loss) $ 42,215 $ (311,088) $ (408,802)
Adjustments to reconcile net income (loss) to cash flow provided by (used in) operating activities:      
(Gain) loss on sale of hotel properties, net (1,017) 2,378 (2,703)
Loss (gain) on extinguishment of indebtedness, net 39 (893) 0
Depreciation and amortization 184,875 187,778 194,168
Amortization of deferred financing costs 5,967 5,884 4,416
Other amortization 3,265 (2,090) (2,404)
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net (5,866) 10,658 0
Unrealized gain on discontinued cash flow hedges 0 0 (376)
Equity in (income) loss from unconsolidated joint ventures (457) 477 8,454
Impairment losses 0 144,845 0
Amortization of share-based compensation 21,664 17,054 12,396
Deferred income taxes 0 0 51,447
Changes in assets and liabilities:      
Hotel and other receivables, net (7,563) (17,969) 26,409
Prepaid expense and other assets (4,665) (1,090) 19,178
Accounts payable and other liabilities 13,146 7,203 (48,791)
Advance deposits and deferred revenue 3,319 (13,090) (25,282)
Accrued interest 1,597 12,904 3,182
Net cash flow provided by (used in) operating activities 256,519 42,961 (168,708)
Cash flows from investing activities      
Acquisition of hotel properties, net (59,308) (174,675) 0
Proceeds from the sale of hotel properties, net 48,075 198,642 5,169
Improvements and additions to hotel properties (124,282) (48,263) (73,337)
Contributions to unconsolidated joint ventures 0 (331) (100)
Distributions from unconsolidated joint ventures in excess of earnings 0 0 (1,576)
Net cash flow used in investing activities (135,515) (24,627) (66,692)
Cash flows from financing activities      
Borrowings under Revolver 0 0 400,000
Repayments of Revolver (200,000) (200,000) 0
Borrowing on Term Loan 5,000 0 0
Repayments of Unsecured Debt 0 (356,338) 0
Proceeds from Issuance of Senior Long-term Debt 0 1,000,000 0
Repayments of Senior Notes 0 (484,402) 0
Scheduled mortgage loan principal payments 0 (1,486) (3,376)
Repayments of mortgage loans (including $7.0 million in prepayment premiums) 0 (149,183) 0
Repurchase of common shares under a share repurchase program (57,639) 0 (62,604)
Repurchase of common shares to satisfy employee tax withholding requirements (3,598) (2,543) (1,641)
Distributions on preferred shares (25,115) (25,115) (25,116)
Distributions on common shares (13,288) (6,701) (61,000)
Distributions on and redemption of Operating Partnership units (54) (18) (428)
Payments of deferred financing costs (1,333) (14,770) (4,069)
Contributions from consolidated joint venture partners 154 1,301 1,264
Cash paid to a noncontrolling interest 2,614 0 0
Net cash flow (used in) provided by financing activities (298,487) (239,255) 243,030
Net change in cash, cash equivalents, and restricted cash reserves (177,483) (220,921) 7,630
Cash, cash equivalents, and restricted cash reserves, beginning of year 713,869 934,790 927,160
Cash, cash equivalents, and restricted cash reserves, end of year $ (536,386) $ (713,869) $ (934,790)