CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 63,827	$ 1,216
Adjustments to reconcile net income to net cash provided by operating activities:
Bad debt expense	131	109
Gain on sale of assets, net	(44,570)	(7)
Loss on extinguishment of debt	4	105
(Gain) loss on derivatives, net	(657)	6,402
Depreciation	40,150	39,333
Amortization of franchise fees and other intangibles	819	773
Amortization of deferred financing fees	578	555
Amortization of deferred stock compensation	1,749	1,614
Changes in operating assets and liabilities:
Restricted cash	4,013	8,176
Accounts receivable	(10,575)	(14,396)
Inventories	5	39
Prepaid expenses and other assets	(2,387)	(1,729)
Accounts payable and other liabilities	(370)	7,691
Accrued payroll and employee benefits	(8,569)	(6,790)
Net cash provided by operating activities	44,148	43,091
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sales of assets	123,117	7
Restricted cash - replacement reserve	(504)	(309)
Renovations and additions to hotel properties	(29,872)	(48,818)
Payment for interest rate derivative	(19)
Net cash provided by (used in) investing activities	92,722	(49,120)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from preferred stock offerings		115,000
Payment of preferred stock offering costs		(4,016)
Repurchase of common stock for employee withholding obligations	(3,793)	(2,641)
Proceeds from notes payable	240,000	100,000
Payments on notes payable	(178,599)	(117,558)
Payments of deferred financing costs	(13)	(78)
Dividends and distributions paid	(119,847)	(186,301)
Distributions to noncontrolling interest	(2,325)	(775)
Net cash used in financing activities	(64,577)	(96,369)
Net increase (decrease) in cash and cash equivalents	72,293	(102,398)
Cash and cash equivalents, beginning of period	369,537	499,067
Cash and cash equivalents, end of period	441,830	396,669
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest	9,632	12,455
Cash paid for income taxes	38	204
NONCASH INVESTING ACTIVITY
Increase in accounts payable related to renovations and additions to hotel properties and other assets	2,119	5,844
Amortization of deferred stock compensation - construction activities	151	239
NONCASH FINANCING ACTIVITY
Issuance of common stock distributions		78,823
Dividends and distributions payable	$ 14,228	$ 13,592