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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Assets:    
Investment in hotel properties, net $ 1,265,174 $ 1,347,116
Investment in hotel properties under development 43,651 20,496
Cash and cash equivalents 21,124 6,620
Restricted cash 10,329 13,562
Investment in unconsolidated real estate entities 0 17,969
Right of use asset, net 20,641 21,270
Hotel receivables (net of allowance for doubtful accounts of $248 and $451, respectively) 1,688 4,626
Deferred costs, net 5,384 4,271
Prepaid expenses and other assets 2,266 2,615
Deferred tax asset, net 0 29
Total assets 1,370,257 1,438,574
Liabilities and Equity:    
Mortgage debt, net 460,145 495,465
Revolving credit facility 135,300 90,000
Construction loan 13,325 0
Accounts payable and accrued expenses 25,374 33,012
Distributions and losses in excess of investments of unconsolidated real estate entities 19,951 15,214
Lease liability, net 23,233 23,717
Distributions payable 469 6,142
Total liabilities 677,797 663,550
Commitments and contingencies (see note 14)
Shareholders’ Equity:    
Preferred shares, $0.01 par value, 100,000,000 shares authorized and unissued at December 31, 2020 and 2019 0 0
Common shares, $0.01 par value, 500,000,000 shares authorized; 46,973,473 and 46,928,445 shares issued and outstanding at December 31, 2020 and 2019, respectively 470 469
Additional paid-in capital 906,000 904,273
Accumulated deficit (228,718) (142,365)
Total shareholders’ equity 677,752 762,377
Noncontrolling Interests:    
Noncontrolling interest in operating partnership 14,708 12,647
Total equity 692,460 775,024
Total liabilities and equity $ 1,370,257 $ 1,438,574