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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
Assets:    
Investment in hotel properties, net $ 1,226,264 $ 1,233,094
Cash and cash equivalents 12,769 12,118
Restricted cash 24,116 25,083
Investment in unconsolidated real estate entities 20,120 20,424
Hotel receivables (net of allowance for doubtful accounts of $169 and $155, respectively) 6,694 4,389
Deferred costs, net 4,455 4,642
Prepaid expenses and other assets 5,200 2,778
Deferred tax asset, net 0 426
Total assets 1,299,618 1,302,954
Liabilities and Equity:    
Mortgage debt 529,367 530,323
Revolving credit facility 56,500 52,500
Accounts payable and accrued expenses 28,680 27,782
Distributions and losses in excess of investments of unconsolidated real estate entities 5,800 6,017
Distributions payable 4,831 4,742
Total liabilities 625,178 621,364
Commitments and contingencies (Note 12)
Shareholders’ Equity:    
Preferred shares, $0.01 par value, 100,000,000 shares authorized and unissued at March 31, 2017 and December 31, 2016 0 0
Common shares, $0.01 par value, 500,000,000 shares authorized; 38,402,659 and 38,367,014 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively 380 380
Additional paid-in capital 722,844 722,019
Retained earnings (distributions in excess of retained earnings) (53,730) (45,657)
Total shareholders’ equity 669,494 676,742
Noncontrolling Interests:    
Noncontrolling interest in Operating Partnership 4,946 4,848
Total equity 674,440 681,590
Total liabilities and equity $ 1,299,618 $ 1,302,954