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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
ASSETS    
Investments in hotel properties, gross $ 2,360,842 $ 2,325,093
Accumulated depreciation (470,484) (440,492)
Investments in hotel properties, net 1,890,358 1,884,601
Cash and cash equivalents 128,025 261,541
Restricted cash 63,439 54,155
Accounts receivable, net of allowance of $200 and $339, respectively 32,864 51,448
Inventories 5,119 5,238
Prepaid expenses 18,172 7,044
Deferred costs, net 75 0
Investment in unconsolidated entity 1,699 1,689
Derivative assets 6,308 6,482
Operating lease right-of-use assets 78,917 79,449
Other assets 17,078 14,621
Intangible assets, net 3,693 3,883
Total assets 2,261,510 2,397,714
Liabilities:    
Indebtedness, net 1,135,958 1,334,130
Accounts payable and accrued expenses 135,096 133,978
Dividends and distributions payable 8,917 8,184
Operating lease liabilities 60,538 60,692
Other liabilities 22,508 22,343
Derivative liabilities 165 284
Total liabilities 1,369,319 1,571,712
Commitments and contingencies (note 15)
Redeemable noncontrolling interests in operating partnership 35,174 40,555
Preferred stock, $0.01 par value, 80,000,000 shares authorized:    
8.25% Series D cumulative preferred stock, 1,600,000 shares issued and outstanding at June 30, 2023 and December 31, 2022 16 16
Common stock, $0.01 par value, 250,000,000 shares authorized, 65,993,893 and 69,919,065 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively 659 699
Additional paid-in capital 716,987 734,134
Accumulated deficit (341,210) (324,740)
Total stockholders’ equity of the Company 376,452 410,109
Noncontrolling interest in consolidated entities (12,669) (16,346)
Total equity 363,783 393,763
Total liabilities and equity 2,261,510 2,397,714
Related Party    
ASSETS    
Due from related parties and nonrelated parties 333 938
Liabilities:    
Due to related parties and nonrelated parties 4,558 10,005
Nonrelated Party    
ASSETS    
Due from related parties and nonrelated parties 15,430 26,625
Liabilities:    
Due to related parties and nonrelated parties 1,579 2,096
Series B Preferred Stock    
Liabilities:    
Series preferred stock 65,426 65,426
Series E Preferred Stock    
Liabilities:    
Series preferred stock 379,403 291,076
Series M Preferred Stock    
Liabilities:    
Series preferred stock $ 48,405 $ 35,182