CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 683,995	$ 809,316
Restricted cash	50,746	53,053
Accounts receivable, net	42,306	33,844
Prepaid expenses and other current assets	15,342	12,261
Total current assets	792,389	908,474
Investment in hotel properties, net	2,946,796	3,030,998
Finance lease right-of-use assets, net	55,359
Operating lease right-of-use assets, net	63,235
Deferred financing costs, net	3,338	3,544
Other assets, net	29,540	29,817
Total assets	3,890,657	3,972,833
Current liabilities:
Accounts payable and accrued expenses	34,668	30,425
Accrued payroll and employee benefits	17,102	25,039
Dividends and distributions payable	14,636	126,461
Other current liabilities	39,912	44,962
Current portion of notes payable, net	6,064	5,838
Total current liabilities	112,382	232,725
Notes payable, less current portion, net	969,657	971,225
Finance lease obligations, less current portion	27,064	27,009
Operating lease obligations, less current portion	53,276
Other liabilities	17,991	30,703
Total liabilities	1,180,370	1,261,662
Commitments and contingencies (Note 11)
Equity
Common stock, $0.01 par value, 500,000,000 shares authorized, 228,587,447 shares issued and outstanding at March 31, 2019 and 228,246,247 shares issued and outstanding at December 31, 2018	2,286	2,282
Additional paid in capital	2,726,466	2,728,684
Retained earnings	1,199,039	1,182,722
Cumulative dividends and distributions	(1,454,838)	(1,440,202)
Total stockholders' equity	2,662,953	2,663,486
Noncontrolling interest in consolidated joint venture	47,334	47,685
Total equity	2,710,287	2,711,171
Total liabilities and equity	3,890,657	3,972,833
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