CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 38,455	$ 63,827
Adjustments to reconcile net income to net cash provided by operating activities:
Bad debt expense	82	131
Gain on sale of assets, net	(15,669)	(44,570)
Loss on extinguishment of debt		4
Noncash interest on derivatives and capital lease obligations, net	(3,137)	(657)
Depreciation	36,008	40,150
Amortization of franchise fees and other intangibles	746	819
Amortization of deferred financing fees	747	578
Amortization of deferred stock compensation	2,000	1,749
Deferred income taxes	(3,966)
Changes in operating assets and liabilities:
Accounts receivable	(13,096)	(10,575)
Inventories	(52)	5
Prepaid expenses and other assets	(3,523)	(2,387)
Accounts payable and other liabilities	514	(370)
Accrued payroll and employee benefits	(8,513)	(8,569)
Net cash provided by operating activities	30,596	40,135
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sales of assets	136,993	123,117
Renovations and additions to hotel properties	(39,321)	(29,872)
Payment for interest rate derivative		(19)
Net cash provided by investing activities	97,672	93,226
CASH FLOWS FROM FINANCING ACTIVITIES
Repurchase of common stock for employee withholding obligations	(4,232)	(3,793)
Proceeds from notes payable		240,000
Payments on notes payable	(1,893)	(178,599)
Payments of deferred financing costs	(5)	(13)
Dividends and distributions paid	(133,894)	(119,847)
Distributions to noncontrolling interest	(1,169)	(2,325)
Net cash used in financing activities	(141,193)	(64,577)
Net (decrease) increase in cash and cash equivalents and restricted cash	(12,925)	68,784
Cash and cash equivalents and restricted cash, beginning of period	559,311	437,460
Cash and cash equivalents and restricted cash, end of period	546,386	506,244
Supplemental Disclosure of Cash Flow Information
Cash and cash equivalents	467,050	441,830
Restricted cash	79,336	64,414
Cash and cash equivalents and restricted cash, end of period	546,386	506,244
Cash paid for interest	13,618	9,632
Cash paid for income taxes	35	38
Supplemental Disclosure of Noncash Investing and Financing Activties
Increase in accounts payable related to renovations and additions to hotel properties and other assets	3,112	2,119
Amortization of deferred stock compensation - construction activities	113	151
Dividends and distributions payable	$ 14,488	$ 14,228