XML 11 R2.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Assets    
Investment in hotel properties, net $ 4,142,365 $ 4,180,328
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures 7,294 6,979
Cash and cash equivalents 494,563 481,316
Restricted cash reserves 35,807 55,070
Hotel and other receivables, net of allowance of $237 and $319, respectively 47,990 38,528
Operating Lease, Right-of-Use Asset 137,546 136,915
Prepaid expense and other assets 74,777 79,089
Total assets 4,940,342 4,978,225
Liabilities and Equity    
Debt, net 2,219,781 2,217,555
Accounts payable and other liabilities 150,650 155,916
Contract with Customer, Liability 30,995 23,769
Operating Lease, Liability 119,780 117,010
Accrued interest 12,593 20,707
Distributions payable 22,448 14,622
Total liabilities 2,556,247 2,549,579
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, 2023 and December 31, 2022 366,936 366,936
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 156,172,739 and 162,003,533 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively 1,562 1,620
Additional paid-in capital 3,003,316 3,054,958
Retained Earnings (1,041,171) (1,049,441)
Accumulated other comprehensive income 39,553 40,591
Total shareholders’ equity 2,370,196 2,414,664
Noncontrolling interests:    
Noncontrolling interest in the Operating Partnership 6,361 6,313
Noncontrolling interest in consolidated joint ventures 7,538 7,669
Total noncontrolling interests 13,899 13,982
Total equity 2,384,095 2,428,646
Total liabilities and equity $ 4,940,342 $ 4,978,225