CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 369,537	$ 499,067
Restricted cash	67,923	76,180
Accounts receivable, net	39,337	32,024
Inventories	1,225	1,395
Prepaid expenses	10,489	10,879
Assets held for sale, net	79,113
Total current assets	567,624	619,545
Investment in hotel properties, net	3,158,219	3,230,852
Deferred financing fees, net	4,002	4,310
Other assets, net	9,389	10,386
Total assets	3,739,234	3,865,093
Current liabilities:
Accounts payable and accrued expenses	36,110	30,193
Accrued payroll and employee benefits	24,896	28,023
Dividends and distributions payable	119,847	265,124
Other current liabilities	39,869	42,174
Current portion of notes payable, net	184,929	85,776
Liabilities of assets held for sale	3,153
Total current liabilities	408,804	451,290
Notes payable, less current portion, net	746,374	1,010,819
Capital lease obligations, less current portion	15,574	15,575
Other liabilities	36,650	36,289
Total liabilities	1,207,402	1,513,973
Commitments and contingencies (Note 12)
Preferred stock
Common stock, $0.01 par value, 500,000,000 shares authorized, 220,073,140 shares issued and outstanding at December 31, 2016 and 207,604,391 shares issued and outstanding at December 31, 2015	2,201	2,076
Additional paid in capital	2,596,620	2,458,889
Retained earnings	786,901	652,704
Cumulative dividends and distributions	(1,092,952)	(927,868)
Total stockholders' equity	2,482,770	2,300,801
Noncontrolling interest in consolidated joint venture	49,062	50,319
Total equity	2,531,832	2,351,120
Total liabilities and equity	3,739,234	3,865,093
Series D Cumulative Redeemable Preferred Stock
Preferred stock
Cumulative Redeemable Preferred Stock		$ 115,000
Series E Cumulative Redeemable Preferred Stock
Preferred stock
Cumulative Redeemable Preferred Stock	115,000
Series F Cumulative Redeemable Preferred Stock
Preferred stock
Cumulative Redeemable Preferred Stock	$ 75,000