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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Assets    
Investment in hotel properties, net $ 4,249,341 $ 4,136,216
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures 7,632 7,398
Cash and cash equivalents 350,237 516,675
Restricted cash reserves 40,721 38,652
Hotel and other receivables, net of allowance of $270 and $265, respectively 26,754 26,163
Operating lease right of use asset 132,276 136,140
Prepaid expense and other assets 82,896 58,051
Total assets 4,889,857 4,919,295
Liabilities and Equity    
Debt, net 2,221,833 2,220,778
Accounts payable and other liabilities 138,634 147,819
Contract with Customer, Liability 36,140 32,281
Operating lease liability 120,290 122,588
Accrued interest 12,824 22,539
Distributions payable 22,570 22,500
Total liabilities 2,552,291 2,568,505
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 March 31, 2024 and December 31, 2023 366,936 366,936
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 155,819,434 and 155,297,829 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 1,558 1,553
Additional paid-in capital 3,002,588 3,000,894
Retained Earnings (1,072,125) (1,055,183)
Accumulated other comprehensive income 24,944 22,662
Total shareholders’ equity 2,323,901 2,336,862
Noncontrolling interests:    
Noncontrolling interest in the Operating Partnership 6,220 6,294
Noncontrolling interest in consolidated joint ventures 7,445 7,634
Total noncontrolling interests 13,665 13,928
Total equity 2,337,566 2,350,790
Total liabilities and equity $ 4,889,857 $ 4,919,295