CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 816,857	$ 809,316
Restricted cash	48,116	53,053
Accounts receivable, net	35,209	33,844
Prepaid expenses and other current assets	13,550	12,261
Total current assets	913,732	908,474
Investment in hotel properties, net	2,872,353	3,030,998
Finance lease right-of-use asset, net	47,652
Operating lease right-of-use assets, net	60,629
Deferred financing costs, net	2,718	3,544
Other assets, net	21,890	29,817
Total assets	3,918,974	3,972,833
Current liabilities:
Accounts payable and accrued expenses	35,614	30,425
Accrued payroll and employee benefits	25,002	25,039
Dividends and distributions payable	135,872	126,461
Other current liabilities	46,955	44,962
Current portion of notes payable, net	82,109	5,838
Total current liabilities	325,552	232,725
Notes payable, less current portion, net	888,954	971,225
Finance lease obligation, less current portion	15,570	27,009
Operating lease obligations, less current portion	49,691
Other liabilities	18,136	30,703
Total liabilities	1,297,903	1,261,662
Commitments and contingencies (Note 13)
Equity
Common stock, $0.01 par value, 500,000,000 shares authorized, 224,855,351 shares issued and outstanding at December 31, 2019 and 228,246,247 shares issued and outstanding at December 31, 2018	2,249	2,282
Additional paid in capital	2,683,913	2,728,684
Retained earnings	1,318,455	1,182,722
Cumulative dividends and distributions	(1,619,779)	(1,440,202)
Total stockholders' equity	2,574,838	2,663,486
Noncontrolling interest in consolidated joint venture	46,233	47,685
Total equity	2,621,071	2,711,171
Total liabilities and equity	3,918,974	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