Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net income	$ 103,098	$ 135,080
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	104,651	94,205
Loss on impairment of depreciable real estate assets	5,471	0
Gain on sale of real estate	0	(15,358)
Other non-cash expenses, net	4,806	4,998
Changes in operating assets and liabilities, net of amounts acquired or assumed with acquisitions:
Increase in due from third party managers, net	(14,350)	(15,520)
Increase in other assets, net	(1,014)	(4,632)
Increase in accounts payable and other liabilities	35,309	6,389
Net cash provided by operating activities	237,971	205,162
Cash flows from investing activities:
Cash consideration in Apple Ten merger	(93,590)	0
Acquisition of hotel properties, net	(23,994)	(213,189)
Deposits and other disbursements for potential acquisitions	0	(1,130)
Capital improvements and development costs	(47,523)	(40,054)
Decrease in capital improvement reserves	2,459	7,351
Net proceeds from sale of hotel properties	0	205,154
Net cash used in investing activities	(162,648)	(41,868)
Cash flows from financing activities:
Repurchases of common shares	(361)	(236,718)
Repurchases of common shares to satisfy employee withholding requirements	(459)	0
Equity issuance costs	(1,176)	0
Distributions paid to common shareholders	(161,940)	(176,814)
Net proceeds from (payments on) revolving credit facility	187,300	(16,100)
Payments on extinguished credit facility	(111,100)	0
Proceeds from term loans	150,000	425,000
Repayment of term loan	0	(100,000)
Proceeds from mortgage debt	24,000	38,000
Payments of mortgage debt	(157,823)	(89,547)
Financing costs	(3,764)	(7,010)
Net cash used in financing activities	(75,323)	(163,189)
Increase in cash and cash equivalents	0	105
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	0	105
Supplemental cash flow information:
Interest paid	30,192	25,230
Supplemental disclosure of noncash investing and financing activities:
Stock consideration in Apple Ten merger (see details in note 2)	956,086	0
Accrued distribution to common shareholders	$ 22,325	$ 17,440