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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
Assets:    
Investment in hotel properties, net $ 1,328,560 $ 1,320,082
Cash and cash equivalents 10,270 9,333
Restricted cash 28,383 27,166
Investment in unconsolidated real estate entities 22,542 24,389
Hotel receivables (net of allowance for doubtful accounts of $249 and $200, respectively) 6,418 4,047
Deferred costs, net 5,126 4,646
Prepaid expenses and other assets 3,757 2,523
Deferred tax asset, net 30 30
Total assets 1,405,086 1,392,216
Liabilities and Equity:    
Mortgage debt, net 502,950 506,316
Revolving credit facility 30,000 32,000
Accounts payable and accrued expenses 36,358 31,692
Distributions and losses in excess of investments of unconsolidated real estate entities 8,022 6,582
Distributions payable 5,578 5,846
Total liabilities 582,908 582,436
Commitments and contingencies (Note 12)
Shareholders’ Equity:    
Preferred shares, $0.01 par value, 100,000,000 shares authorized and unissued at September 30, 2018 and December 31, 2017 0 0
Common shares, $0.01 par value, 500,000,000 shares authorized; 46,514,186 and 45,375,266 shares issued and outstanding at September 30, 2018 and December 31, 2017, respectively 465 450
Additional paid-in capital 896,156 871,730
Retained earnings (distributions in excess of retained earnings) (83,758) (69,018)
Total shareholders’ equity 812,863 803,162
Noncontrolling Interests:    
Noncontrolling interest in Operating Partnership 9,315 6,618
Total equity 822,178 809,780
Total liabilities and equity $ 1,405,086 $ 1,392,216