CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 499,067	$ 222,096
Restricted cash	76,180	82,074
Accounts receivable, net	32,024	34,227
Inventories	1,395	1,439
Prepaid expenses	10,879	14,909
Total current assets	619,545	354,745
Investment in hotel properties, net	3,229,010	3,538,129
Deferred financing fees, net	4,310	653
Goodwill	990	9,405
Other assets, net	9,396	14,485
Total assets	3,863,251	3,917,417
Current liabilities:
Accounts payable and accrued expenses	30,193	32,577
Accrued payroll and employee benefits	28,023	31,919
Dividends payable	265,124	76,694
Other current liabilities	41,877	36,466
Current portion of notes payable, net	85,776	119,607
Total current liabilities	450,993	297,263
Notes payable, less current portion, net	1,010,819	1,302,137
Capital lease obligations, less current portion	15,575	15,576
Other liabilities	34,744	33,607
Total liabilities	$ 1,512,131	$ 1,648,583
Commitments and contingencies (Note 13)
Preferred stock
Common stock, $0.01 par value, 500,000,000 shares authorized, 207,604,391 shares issued and outstanding at December 31, 2015 and 204,766,718 shares issued and outstanding at December 31, 2014	$ 2,076	$ 2,048
Additional paid in capital	2,458,735	2,418,567
Retained earnings	652,858	305,503
Cumulative dividends	(927,868)	(624,545)
Total stockholders' equity	2,300,801	2,216,573
Noncontrolling interests in consolidated joint ventures	50,319	52,261
Total equity	2,351,120	2,268,834
Total liabilities and equity	3,863,251	3,917,417
Series D Cumulative Redeemable Preferred Stock
Preferred stock
Preferred stock 8.0% Cumulative Redeemable Preferred Stock	$ 115,000	$ 115,000