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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net loss $ (6,016) $ (55,304)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 26,566 26,607
Amortization of deferred franchise fees 120 122
Amortization of deferred financing fees included in interest expense 984 489
Loss on sale of hotel property 15 0
Gain on sale of investment in unconsolidated real estate entities (23,817) 0
Impairment loss on investment in unconsolidated real estate entities 0 15,282
Share based compensation 2,351 2,349
Accelerated share based compensation for employee severance 0 288
Loss from unconsolidated real estate entities 1,231 5,251
Changes in assets and liabilities:    
Right of use asset 324 311
Hotel receivables (2,145) 2,378
Deferred costs (22) (16)
Prepaid expenses and other assets (3,576) (2,022)
Accounts payable and accrued expenses 2,080 (11,241)
Lease liability (262) (234)
Net cash used in operating activities (2,167) (15,740)
Cash flows from investing activities:    
Improvements and additions to hotel properties (4,200) (10,424)
Investment in hotel properties under development (15,231) (10,050)
Proceeds from sale of unconsolidated real estate entity 2,800 0
Net cash used in investing activities (16,631) (20,474)
Cash flows from financing activities:    
Borrowings on revolving credit facility 20,000 86,000
Repayments on revolving credit facility (27,300) (3,000)
Borrowings on construction loan 14,248 0
Payments on mortgage debt (16,875) (4,483)
Payment of financing costs (144) (627)
Proceeds from issuance of common shares 24,583 128
Proceeds from issuance of preferred shares 120,000 0
Distributions-common shares/units (282) (16,237)
Net cash provided by financing activities 129,640 61,778
Net change in cash, cash equivalents and restricted cash 110,842 25,564
Cash, cash equivalents and restricted cash, beginning of period 31,453 20,182
Cash, cash equivalents and restricted cash, end of period 142,295 45,746
Supplemental disclosure of cash flow information:    
Cash paid for interest 13,456 13,844
Capitalized interest 1,532 595
Cash paid for income taxes 166 44
Common Shares    
Cash flows from financing activities:    
Payment of offering costs on common/preferred shares (810) (3)
Preferred Shares    
Cash flows from financing activities:    
Payment of offering costs on common/preferred shares $ (3,780) $ 0