Equity Plan (Tables)

6 Months Ended

Jun. 30, 2019

Share-Based Compensation Arrangement By Share-Based Payment Award [Line Items]

Restricted Common Shares

The following is a summary of the Trust’s restricted common share activity for the six months ended June 30, 2019: 

	Number of Shares		Weighted-Average Grant-Date Fair Value
Restricted common shares as of December 31, 2018	953,429		$	15.39
Granted	548,419		$	13.12
Vested	(130,186	)	$	25.99
Forfeited	—		$	—
Restricted common shares as of June 30, 2019	1,371,662		$	13.48

2019 Performance-based Awards [Member]

Share-Based Compensation Arrangement By Share-Based Payment Award [Line Items]

Payout as a percentage of maximum award

The actual number of shares under the 2019 Performance-Based Awards that vest will be based on the Trust’s total shareholder return (“TSR”), as defined in the restricted share agreements, measured over a three-year performance period ending December 31, 2021, relative to the total return generated by a market-cap weighted index that includes seven lodging REITs (the "Performance Peer Group"). The payout schedule for the 2019 Performance-Based Awards is as follows, with linear interpolation for performance between 67% and 100%, and between 100% and 133% of the Performance Peer Group:

Trust TSR as % of Performance Peer Group Total Return	Payout (% of Maximum)
<67%	0%
67%	25%
100%	50%
≥133%	100%