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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Assets:    
Investment in hotel properties, net $ 1,372,077 $ 1,373,773
Cash and cash equivalents 11,199 7,192
Restricted cash 21,342 25,145
Investment in unconsolidated real estate entities 20,857 21,545
Right of use asset, net 22,936 0
Hotel receivables (net of allowance for doubtful accounts of $281 and $264, respectively) 5,221 4,495
Deferred costs, net 4,917 5,070
Prepaid expenses and other assets 5,504 2,431
Deferred tax asset, net 58 58
Total assets 1,464,111 1,439,709
Liabilities and Equity:    
Mortgage debt, net 500,568 501,782
Revolving credit facility 97,000 81,500
Accounts payable and accrued expenses 30,184 33,692
Distributions and losses in excess of investments of unconsolidated real estate entities 10,086 9,650
Lease Liability, net 25,623 0
Distributions payable 5,733 5,667
Total liabilities 669,194 632,291
Commitments and contingencies (Note 13)
Shareholders’ Equity:    
Preferred shares, $0.01 par value, 100,000,000 shares authorized and unissued at March 31, 2019 and December 31, 2018 0 0
Common shares, $0.01 par value, 500,000,000 shares authorized; 46,571,005 and 46,525,652 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively 466 465
Additional paid-in capital 897,161 896,286
Retained earnings (distributions in excess of retained earnings) (113,039) (99,285)
Total shareholders’ equity 784,588 797,466
Noncontrolling Interests:    
Noncontrolling interest in Operating Partnership 10,329 9,952
Total equity 794,917 807,418
Total liabilities and equity $ 1,464,111 $ 1,439,709