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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Assets    
Investment in hotel properties, net $ 4,257,199 $ 4,136,216
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures 7,237 7,398
Cash and cash equivalents 385,384 516,675
Restricted cash reserves 38,958 38,652
Hotel and other receivables, net of allowance of $294 and $265, respectively 26,437 26,163
Operating lease right of use asset 129,526 136,140
Prepaid expense and other assets 43,250 58,051
Total assets 4,887,991 4,919,295
Liabilities and Equity    
Debt, net 2,218,826 2,220,778
Accounts payable and other liabilities 154,933 147,819
Contract with Customer, Liability 36,643 32,281
Operating lease liability 119,508 122,588
Accrued interest 12,114 22,539
Distributions payable 30,431 22,500
Total liabilities 2,572,455 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 September 30, 2024 and December 31, 2023 366,936 366,936
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 153,628,657 and 155,297,829 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 1,536 1,553
Additional paid-in capital 2,990,553 3,000,894
Retained Earnings (1,066,035) (1,055,183)
Accumulated other comprehensive income 8,835 22,662
Total shareholders’ equity 2,301,825 2,336,862
Noncontrolling interests:    
Noncontrolling interest in the Operating Partnership 6,258 6,294
Noncontrolling interest in consolidated joint ventures 7,453 7,634
Total noncontrolling interests 13,711 13,928
Total equity 2,315,536 2,350,790
Total liabilities and equity $ 4,887,991 $ 4,919,295