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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 184,211 $ 87,796 $ 91,877
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 118,110 104,524 99,090
Corporate asset depreciation as corporate expenses 229 216 95
Loss on sale of hotel properties, net 0 0 764
Loss on early extinguishment of debt 2,373 0 274
Gain on property insurance settlement (144,192) (1,724) 0
Non-cash lease expense and other amortization 7,011 5,336 4,378
Non-cash interest rate swap fair value adjustment 2,545 0 0
Amortization of debt issuance costs 1,885 1,862 1,950
Impairment losses 0 0 43,993
Estimated recovery of impairment losses from insurance 0 0 (40,784)
Amortization of deferred income related to key money (396) (2,568) (5,760)
Share-based compensation 6,385 5,573 6,201
Deferred income tax expense 21,018 1,591 7,702
Changes in assets and liabilities:      
Prepaid expenses and other assets (6,674) 28,657 (26,333)
Due to/from hotel managers (5,082) (5,686) 1,540
Accounts payable and accrued expenses 5,866 (7,997) 17,006
Net cash provided by operating activities 193,289 217,580 201,993
Cash flows from investing activities:      
Hotel acquisitions 0 (259,883) (93,795)
Proceeds from sale of properties, net 0 0 (764)
Proceeds from property insurance 133,529 32,466 10,042
Net cash used in investing activities (65,730) (342,588) (181,941)
Cash flows from financing activities:      
Scheduled mortgage debt principal payments (14,195) (13,612) (12,417)
Repurchase of common stock and other (42,828) (32,182) 0
Proceeds from sale of common stock, net 0 92,679 0
Repayments of mortgage debt 0 0 (170,368)
Proceeds from unsecured term loan 350,000 50,000 200,000
Repayments of unsecured term loans (300,000) 0 0
Draws on senior unsecured credit facility 150,000 85,000 0
Repayments of senior unsecured credit facility (75,000) (85,000) 0
Payment of financing costs (4,805) (412) (1,579)
Shares redeemed to satisfy tax withholdings on vested share-based compensation (485) (931) (537)
Distributions on common stock and units (102,052) (102,709) (100,542)
Net cash used in financing activities (39,365) (7,167) (85,443)
Net increase (decrease) in cash and cash equivalents, and restricted cash 88,194 (132,175) (65,391)
Cash, cash equivalents, and restricted cash beginning of year 91,598 223,773 289,164
Cash, cash equivalents, and restricted cash, end of year 179,792 91,598 223,773
Supplemental Disclosure of Cash Flow Information:      
Cash paid for interest 43,742 38,548 36,288
Cash paid for income taxes 1,470 2,208 3,251
Capitalized interest 1,944 0 0
Non-cash cumulative effect of ASC 842 accounting standard adoption 15,286 0 0
Non-cash Investing and Financing Activities:      
Loan assumed in hotel acquisition 0 2,943 0
Issuance of Operating Partnership units in connection with acquisition of hotel property 0 7,784 0
Redemption of Operating Partnership units for common stock 44 0 0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]      
Total cash, cash equivalents, and restricted cash 91,598 91,598 289,164
Operating hotels      
Cash flows from investing activities:      
Capital expenditures for operating hotels (102,660) (109,447) (97,424)
Frenchman's Reef      
Cash flows from investing activities:      
Capital expenditures for operating hotels $ (96,599) $ (5,724) $ 0