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Stock Incentive Plans (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share Based Compensation Restricted Stock Activity A summary of our restricted stock awards from January 1, 2017 to December 31, 2019 is as follows:
 
Number of
Shares
 
Weighted-
Average Grant
Date Fair
Value
Unvested balance at January 1, 2017
567,540

 
$
10.62

Granted
324,502

 
11.19

Forfeited
(16,669
)
 
10.80

Vested
(244,411
)
 
11.29

Unvested balance at December 31, 2017
630,962

 
10.66

Granted
349,091

 
10.19

Forfeited
(51,061
)
 
10.44

Vested
(287,148
)
 
11.02

Unvested balance at December 31, 2018
641,844

 
10.25

Granted
162,806

 
10.38

Forfeited
(21,534
)
 
10.37

Vested
(310,117
)
 
10.08

Unvested balance at December 31, 2019
472,999

 
$
10.40
Schedule of Performance Shares Issued
The ratio of total PSUs issued to executive officers is divided between the two metrics as follows:
Grant Year
 
Vesting Year
 
Total Shareholder Return
 
Hotel Market Share
2014
 
2017
 
100
%
 
—
%
2015
 
2018
 
100
%
 
—
%
2016
 
2019
 
75
%
 
25
%
2017
 
2020
 
50
%
 
50
%
2018
 
2021
 
50
%
(1)
50
%
2019
 
2022
 
50
%
(1)
50
%
______________________
(1)
The number of PSUs to be earned is limited to target if the Company's total stockholder return is negative for the performance period.
Summary of LTIP units A summary of our LTIP units from January 1, 2019 to December 31, 2019 is as follows:
 
Number of
Units
 
Weighted-
Average Grant
Date Fair
Value
Unvested balance at January 1, 2019
—

 
$
—

Granted
281,925

 
10.65

Forfeited
(37,559
)
 
10.65

Unvested balance at December 31, 2019
244,366

 
$
10.65
Performance Stock Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Fair Value Valuation Assumptions The determination of the grant-date fair values of outstanding awards based on our relative total stockholder return included the following assumptions:
Award Grant Date
 
Volatility
 
Risk-Free Rate
 
Fair Value at Grant Date
February 26, 2017
 
26.7
%
 
1.46
%
 
$
10.89

March 2, 2018
 
26.9
%
 
2.40
%
 
$
9.52

April 2, 2018
 
26.9
%
 
2.37
%
 
$
9.00

March 1, 2019
 
24.3
%
 
2.54
%
 
$
9.68
Schedule of Nonvested Performance-based Units Activity
A summary of our PSUs from January 1, 2017 to December 31, 2019 is as follows:
 
Number of
Units

Weighted-
Average Grant
Date Fair
Value
Unvested balance at January 1, 2017
686,684

 
$
10.65

Granted
266,009

 
11.04

Additional units from dividends
33,478

 
11.17

Vested (1)
(200,374
)
 
12.15

Unvested balance at December 31, 2017
785,797

 
10.42

Granted
293,111

 
9.82

Additional units from dividends
35,197

 
11.24

Vested (2)
(218,514
)
 
11.98

Forfeited
(113,668
)
 
9.86

Unvested balance at December 31, 2018
781,923


11.19

Granted
296,050


10.14

Additional units from dividends
40,662


10.00

Vested (3)
(251,375
)

8.80

Forfeited
(70,728
)

9.93

Unvested balance at December 31, 2019
796,532


$
11.16


______________________
(1)
There was no payout of shares of our common stock for PSUs that vested on February 27, 2017, as our total stockholder return fell below the 30th percentile of the total stockholder returns of the peer group over the three-year performance period.
(2)
The number of shares of common stock earned for the PSUs vested in 2018 was equal to 51.75% of the PSU Target Award
(3)
The number of shares of common stock earned for the PSUs vested in 2019 was equal to 74.33% of the PSU Target Award.