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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 11,153 $ 16,353
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 25,647 23,841
Amortization of deferred franchise fees 124 117
Amortization of deferred financing fees included in interest expense 456 459
Loss on sale of hotel property 3,300 0
Share based compensation 2,297 2,114
Loss (gain) from unconsolidated real estate entities 666 (250)
Changes in assets and liabilities:    
Right of use asset 307  
Hotel receivables (2,961) (2,929)
Deferred costs (30) (147)
Prepaid expenses and other assets (2,152) (1,937)
Accounts payable and accrued expenses (791) 366
Lease liability (187) 0
Net cash provided by operating activities 37,829 37,987
Cash flows from investing activities:    
Improvements and additions to hotel properties (20,716) (12,760)
Investment in hotel properties under development 2,503 0
Proceeds from sale of hotel properties 8,987 0
Distributions from unconsolidated entities 411 2,843
Net cash used in investing activities (13,821) (9,917)
Cash flows from financing activities:    
Borrowings on revolving credit facility 34,500 59,000
Repayments on revolving credit facility (37,000) (64,000)
Payments on mortgage debt (2,567) (2,425)
Payment of financing costs (48) (953)
Payment of offering costs (201) (257)
Proceeds from issuance of common shares 7,119 10,681
Distributions-common shares/units (31,236) (30,657)
Net cash used in financing activities (29,433) (28,611)
Net change in cash, cash equivalents and restricted cash (5,425) (541)
Cash, cash equivalents and restricted cash, beginning of period 32,337 36,499
Cash, cash equivalents and restricted cash, end of period 26,912 35,958
Supplemental disclosure of cash flow information:    
Cash paid for interest 13,753 12,549
Capitalized interest 74 0
Cash paid for income taxes $ 415 $ 733