Consolidated Balance Sheets - USD ($) $ in Thousands		Dec. 31, 2019	Dec. 31, 2018
ASSETS
Property and equipment, net		$ 3,026,769	$ 2,944,617
Right-of-use assets		98,145
Restricted cash	[1]	57,268	47,735
Due from hotel managers		91,207	86,914
Favorable lease assets, net		0	63,945
Prepaid and other assets		29,853	10,506
Cash and cash equivalents		122,524	43,863
Total assets		3,425,766	3,197,580
Liabilities:
Mortgage and other debt, net of unamortized debt issuance costs		616,329	629,747
Unsecured term loans, net of unamortized debt issuance costs		398,770	348,219
Senior unsecured credit facility		75,000	0
Total debt		1,090,099	977,966
Deferred income related to key money, net		11,342	11,739
Unfavorable contract liabilities, net		67,422	73,151
Deferred rent		52,012	93,719
Lease liabilities		103,625
Due to hotel managers		72,445	72,678
Distributions declared and unpaid		25,815	26,339
Accounts payable and accrued expenses		81,944	51,395
Total liabilities		1,504,704	1,306,987
Equity:
Preferred stock, $0.01 par value; 10,000,000 shares authorized; no shares issued and outstanding		0	0
Common stock, $0.01 par value; 400,000,000 shares authorized; 200,207,795 and 204,536,485 shares issued and outstanding at December 31, 2019 and 2018, respectively		2,002	2,045
Additional paid-in capital		2,089,349	2,126,472
Accumulated deficit		(178,861)	(245,620)
Total stockholders' equity		1,912,490	1,882,897
Noncontrolling interests		8,572	7,696
Total equity		1,921,062	1,890,593
Total liabilities and equity		$ 3,425,766	$ 3,197,580

[1] Restricted cash primarily consists of reserves for replacement of furniture and fixtures held by our hotel managers and cash held in escrow pursuant to lender requirements.