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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Assets    
Investment in hotel properties, net $ 4,150,176 $ 4,180,328
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures 7,480 6,979
Cash and cash equivalents 476,936 481,316
Restricted cash reserves 34,396 55,070
Hotel and other receivables, net of allowance of $291 and $319, respectively 41,748 38,528
Operating Lease, Right-of-Use Asset 139,163 136,915
Prepaid expense and other assets 82,601 79,089
Total assets 4,932,500 4,978,225
Liabilities and Equity    
Debt, net 2,218,737 2,217,555
Accounts payable and other liabilities 126,901 155,916
Contract with Customer, Liability 25,042 23,769
Operating Lease, Liability 120,376 117,010
Accrued interest 22,067 20,707
Distributions payable 19,292 14,622
Total liabilities 2,532,415 2,549,579
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, 2023 and December 31, 2022 366,936 366,936
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 157,686,191 and 162,003,533 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively 1,577 1,620
Additional paid-in capital 3,011,350 3,054,958
Retained Earnings (1,035,566) (1,049,441)
Accumulated other comprehensive income 41,733 40,591
Total shareholders’ equity 2,386,030 2,414,664
Noncontrolling interests:    
Noncontrolling interest in the Operating Partnership 6,380 6,313
Noncontrolling interest in consolidated joint ventures 7,675 7,669
Total noncontrolling interests 14,055 13,982
Total equity 2,400,085 2,428,646
Total liabilities and equity $ 4,932,500 $ 4,978,225