CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 441,830	$ 369,537
Restricted cash	64,414	67,923
Accounts receivable, net	50,229	39,337
Inventories	1,252	1,225
Prepaid expenses	13,252	10,489
Assets held for sale, net		79,113
Total current assets	570,977	567,624
Investment in hotel properties, net	3,149,472	3,158,219
Deferred financing fees, net	2,087	4,002
Other assets, net	9,945	9,389
Total assets	3,732,481	3,739,234
Current liabilities:
Accounts payable and accrued expenses	36,327	36,110
Accrued payroll and employee benefits	17,078	24,896
Dividends and distributions payable	14,228	119,847
Other current liabilities	43,786	39,869
Current portion of notes payable, net	8,898	184,929
Liabilities of assets held for sale		3,153
Total current liabilities	120,317	408,804
Notes payable, less current portion, net	982,460	746,374
Capital lease obligations, less current portion	15,574	15,574
Other liabilities	36,917	36,650
Total liabilities	1,155,268	1,207,402
Commitments and contingencies (Note 11)
Equity
Common stock, $0.01 par value, 500,000,000 shares authorized, 220,417,417 shares issued and outstanding at March 31, 2017 and 220,073,140 shares issued and outstanding at December 31, 2016	2,204	2,201
Additional paid in capital	2,594,724	2,596,620
Retained earnings	848,736	786,901
Cumulative dividends and distributions	(1,107,180)	(1,092,952)
Total stockholders' equity	2,528,484	2,482,770
Noncontrolling interest in consolidated joint venture	48,729	49,062
Total equity	2,577,213	2,531,832
Total liabilities and equity	3,732,481	3,739,234
Series E Cumulative Redeemable Preferred Stock
Equity
Cumulative Redeemable Preferred Stock	115,000	115,000
Series F Cumulative Redeemable Preferred Stock
Equity
Cumulative Redeemable Preferred Stock	$ 75,000	$ 75,000