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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets    
Investment in hotel properties, net $ 4,225,887 $ 4,250,524
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures 7,638 7,457
Cash and cash equivalents 347,526 409,809
Restricted cash reserves 24,868 23,516
Hotel and other receivables, net of allowance of $114 and $169, respectively 27,515 25,494
Operating lease right of use asset 126,889 128,111
Prepaid expense and other assets 57,265 38,968
Total assets 4,817,588 4,883,879
Liabilities and Equity    
Debt, net 2,221,406 2,220,081
Accounts payable and other liabilities 147,960 154,643
Contract with Customer, Liability 40,553 40,242
Operating lease liability 118,825 119,102
Accrued interest 10,885 20,900
Distributions payable 30,346 30,634
Total liabilities 2,569,975 2,585,602
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 March 31, 2025 and December 31, 2024 366,936 366,936
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 151,926,642 and 153,295,577 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 1,519 1,533
Additional paid-in capital 2,973,288 2,992,487
Retained Earnings (1,116,044) (1,090,186)
Accumulated other comprehensive income 8,492 13,788
Total shareholders’ equity 2,234,191 2,284,558
Noncontrolling interests:    
Noncontrolling interest in the Operating Partnership 6,006 6,130
Noncontrolling interest in consolidated joint ventures 7,416 7,589
Total noncontrolling interests 13,422 13,719
Total equity 2,247,613 2,298,277
Total liabilities and equity $ 4,817,588 $ 4,883,879