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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Assets    
Investment in hotel properties, net $ 4,274,669 $ 4,136,216
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures 7,386 7,398
Cash and cash equivalents 371,133 516,675
Restricted cash reserves 36,081 38,652
Hotel and other receivables, net of allowance of $369 and $265, respectively 30,916 26,163
Operating lease right of use asset 130,875 136,140
Prepaid expense and other assets 66,967 58,051
Total assets 4,918,027 4,919,295
Liabilities and Equity    
Debt, net 2,222,642 2,220,778
Accounts payable and other liabilities 149,682 147,819
Contract with Customer, Liability 33,475 32,281
Operating lease liability 119,902 122,588
Accrued interest 21,934 22,539
Distributions payable 22,621 22,500
Total liabilities 2,570,256 2,568,505
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 June 30, 2024 and December 31, 2023 366,936 366,936
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 155,240,677 and 155,297,829 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 1,552 1,553
Additional paid-in capital 3,000,394 3,000,894
Retained Earnings (1,057,061) (1,055,183)
Accumulated other comprehensive income 22,171 22,662
Total shareholders’ equity 2,333,992 2,336,862
Noncontrolling interests:    
Noncontrolling interest in the Operating Partnership 6,318 6,294
Noncontrolling interest in consolidated joint ventures 7,461 7,634
Total noncontrolling interests 13,779 13,928
Total equity 2,347,771 2,350,790
Total liabilities and equity $ 4,918,027 $ 4,919,295