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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Assets:    
Investment in hotel properties, net $ 1,373,773 $ 1,320,082
Cash and cash equivalents 7,192 9,333
Restricted cash 25,145 27,166
Investment in unconsolidated real estate entities 21,545 24,389
Hotel receivables (net of allowance for doubtful accounts $264 and $200) 4,495 4,047
Deferred costs, net 5,070 4,646
Prepaid expenses and other assets 2,431 2,523
Deferred tax asset, net 58 30
Total assets 1,439,709 1,392,216
Liabilities and Equity:    
Mortgage debt, net 501,782 506,316
Revolving credit facility 81,500 32,000
Accounts payable and accrued expenses 33,692 31,692
Distributions and losses in excess of investments of unconsolidated real estate entities 9,650 6,582
Distributions payable 5,667 5,846
Total liabilities 632,291 582,436
Commitments and contingencies (see note 13)
Shareholders’ Equity:    
Preferred Stock, Value, Issued 0 0
Common shares, $0.01 par value, 500,000,000 shares authorized; 46,525,652 and 45,375,266 shares issued and outstanding at December 31, 2018 and 2017, respectively 465 450
Additional paid-in capital 896,286 871,730
Retained earnings (distributions in excess of retained earnings) (99,285) (69,018)
Total shareholders’ equity 797,466 803,162
Noncontrolling Interests:    
Noncontrolling interest in operating partnership 9,952 6,618
Total equity 807,418 809,780
Total liabilities and equity $ 1,439,709 $ 1,392,216