Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands		Jun. 30, 2019	Dec. 31, 2018
Investments in real estate:
Hotels, at cost		$ 2,185,573	$ 2,175,975
Accumulated depreciation		(297,471)	(266,323)
Net investments in hotels		1,888,102	1,909,652
Equity investments in real estate		113,131	112,715
Operating lease right-of-use assets		49,263
Cash and cash equivalents		60,133	66,593
Intangible assets, net		65,583	76,671
Restricted cash		54,870	54,537
Accounts receivable, net		33,502	36,884
Other assets		22,401	23,092
Total assets	[1]	2,286,985	2,280,144
Liabilities and Equity
Non-recourse debt, net		1,319,657	1,326,014
WPC Credit Facility		46,637	41,637
Accounts payable, accrued expenses and other liabilities		104,392	128,955
Operating lease liabilities		71,415
Due to related parties and affiliates		5,651	6,258
Distributions payable		20,099	19,898
Total liabilities	[1]	1,567,851	1,522,762
Commitments and contingencies (Note 10)
Common stock, $0.001 par value; 300,000,000 shares authorized; 141,040,038 and 139,627,375 shares, respectively, issued and outstanding		141	140
Additional paid-in capital		1,190,111	1,174,887
Distributions and accumulated losses		(525,386)	(471,130)
Accumulated other comprehensive loss		(420)	(286)
Total stockholders’ equity		664,446	703,611
Noncontrolling interests		54,688	53,771
Total equity		719,134	757,382
Total liabilities and equity		$ 2,286,985	$ 2,280,144

[1] See Note 2 for details related to variable interest entities (“VIEs”).