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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Real estate properties:    
Land $ 1,941,008 $ 1,972,145
Buildings, improvements and equipment 7,636,707 7,814,192
Total real estate properties, gross 9,577,715 9,786,337
Accumulated depreciation (3,164,885) (3,181,797)
Total real estate properties, net 6,412,830 6,604,540
Acquired real estate leases and other intangibles, net 118,753 130,622
Assets held for sale 116,984 10,500
Cash and cash equivalents 14,626 180,119
Restricted cash 14,830 [1] 17,711
Equity method investment 108,106 113,304
Due from related persons 28,959 6,376
Other assets, net 306,573 292,944
Total assets 7,121,661 7,356,116
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Revolving credit facility 0 0
Mortgage notes payable, net 563,727 558,876
Total liabilities 6,112,855 6,129,983
Commitments and contingencies
Shareholders’ equity:    
Common shares of beneficial interest, $.01 par value; 200,000,000 shares authorized; 165,903,837 and 165,769,595 shares issued and outstanding, respectively 1,659 1,658
Additional paid in capital 4,559,220 4,557,473
Cumulative other comprehensive income 1,782 2,318
Cumulative net income 2,318,267 2,470,500
Cumulative common distributions (5,872,122) (5,805,816)
Total shareholders’ equity 1,008,806 1,226,133
Total liabilities and shareholders’ equity 7,121,661 7,356,116
Nonrelated Party    
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Accounts payable and other liabilities 552,649 587,005
Related Party    
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Accounts payable and other liabilities 12,405 22,758
Senior Secured Notes    
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Senior notes 970,051 968,017
Senior Unsecured Notes    
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Senior notes $ 4,014,023 $ 3,993,327
[1]
(1) Restricted cash consists of amounts escrowed pursuant to the terms of our hotel management agreements to fund capital improvements at our hotels and amounts escrowed as required by certain of our debt agreements.