CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 396,669	$ 499,067
Restricted cash	68,313	76,180
Accounts receivable, net	46,311	32,024
Inventories	1,356	1,395
Prepaid expenses	12,778	10,879
Total current assets	525,427	619,545
Investment in hotel properties, net	3,243,975	3,229,010
Deferred financing fees, net	3,102	4,310
Other assets, net	9,286	10,386
Total assets	3,781,790	3,863,251
Current liabilities:
Accounts payable and accrued expenses	39,460	30,193
Accrued payroll and employee benefits	18,911	28,023
Dividends payable	13,592	265,124
Other current liabilities	45,479	41,877
Current portion of notes payable, net	149,021	85,776
Total current liabilities	266,463	450,993
Notes payable, less current portion, net	929,390	1,010,819
Capital lease obligations, less current portion	15,575	15,575
Other liabilities	41,052	34,744
Total liabilities	$ 1,252,480	$ 1,512,131
Commitments and contingencies (Note 10)
Preferred stock
Common stock, $0.01 par value, 500,000,000 shares authorized, 216,516,858 shares issued and outstanding at March 31, 2016 and 207,604,391 shares issued and outstanding at December 31, 2015	$ 2,165	$ 2,076
Additional paid in capital	2,535,141	2,458,889
Retained earnings	652,270	652,704
Cumulative distributions	(941,460)	(927,868)
Total stockholders' equity	2,478,116	2,300,801
Noncontrolling interest in consolidated joint venture	51,194	50,319
Total equity	2,529,310	2,351,120
Total liabilities and equity	3,781,790	3,863,251
Series D Cumulative Redeemable Preferred Stock
Preferred stock
Cumulative Redeemable Preferred Stock	115,000	$ 115,000
Series E Cumulative Redeemable Preferred Stock
Preferred stock
Cumulative Redeemable Preferred Stock	$ 115,000