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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Assets:    
Investment in hotel properties, net $ 1,263,183 $ 1,233,094
Cash and cash equivalents 11,282 12,118
Restricted cash 27,693 25,083
Investment in unconsolidated real estate entities 25,448 20,424
Hotel receivables (net of allowance for doubtful accounts of $249 and $155, respectively) 7,691 4,389
Deferred costs, net 4,882 4,642
Prepaid expenses and other assets 4,350 2,778
Deferred tax asset, net 0 426
Total assets 1,344,529 1,302,954
Liabilities and Equity:    
Mortgage debt, net 527,144 530,323
Revolving credit facility 75,000 52,500
Accounts payable and accrued expenses 32,763 27,782
Distributions and losses in excess of investments of unconsolidated real estate entities 5,975 6,017
Distributions payable 5,217 4,742
Total liabilities 646,099 621,364
Commitments and contingencies (Note 13)
Shareholders’ Equity:    
Preferred shares, $0.01 par value, 100,000,000 shares authorized and unissued at September 30, 2017 and December 31, 2016 0 0
Common shares, $0.01 par value, 500,000,000 shares authorized; 39,839,476 and 38,367,014 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively 395 380
Additional paid-in capital 752,148 722,019
Retained earnings (distributions in excess of retained earnings) (60,097) (45,657)
Total shareholders’ equity 692,446 676,742
Noncontrolling Interests:    
Noncontrolling interest in Operating Partnership 5,984 4,848
Total equity 698,430 681,590
Total liabilities and equity $ 1,344,529 $ 1,302,954