CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 741,503	$ 809,316
Restricted cash	46,199	53,053
Accounts receivable, net	48,240	33,844
Prepaid expenses and other current assets	8,720	12,261
Total current assets	844,662	908,474
Investment in hotel properties, net	2,936,678	3,030,998
Finance lease right-of-use assets, net	54,991
Operating lease right-of-use assets, net	62,380
Deferred financing costs, net	3,131	3,544
Other assets, net	23,898	29,817
Total assets	3,925,740	3,972,833
Current liabilities:
Accounts payable and accrued expenses	32,092	30,425
Accrued payroll and employee benefits	20,407	25,039
Dividends and distributions payable	14,618	126,461
Other current liabilities	47,907	44,962
Current portion of notes payable, net	6,167	5,838
Total current liabilities	121,191	232,725
Notes payable, less current portion, net	968,090	971,225
Finance lease obligations, less current portion	27,120	27,009
Operating lease obligations, less current portion	52,097
Other liabilities	19,176	30,703
Total liabilities	1,187,674	1,261,662
Commitments and contingencies (Note 11)
Equity
Common stock, $0.01 par value, 500,000,000 shares authorized, 228,206,823 shares issued and outstanding at June 30, 2019 and 228,246,247 shares issued and outstanding at December 31, 2018	2,282	2,282
Additional paid in capital	2,723,737	2,728,684
Retained earnings	1,243,002	1,182,722
Cumulative dividends and distributions	(1,469,456)	(1,440,202)
Total stockholders' equity	2,689,565	2,663,486
Noncontrolling interest in consolidated joint venture	48,501	47,685
Total equity	2,738,066	2,711,171
Total liabilities and equity	3,925,740	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