Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income	$ 26,492	$ 30,359
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	37,419	38,313
Air rights contract amortization	260	260
Deferred financing costs amortization	742	834
Share-based compensation	3,797	3,784
Other	(144)	(150)
Changes in assets and liabilities:
Accounts receivable, net	(10,003)	(13,293)
Prepaid expenses and other assets	(3,229)	(2,236)
Accounts payable and accrued expenses	(3,324)	2,423
Other liabilities	0	(96)
Net cash provided by operating activities	52,010	60,198
Cash flows from investing activities:
Improvements and additions to hotels	(16,176)	(18,906)
Net cash used in investing activities	(16,176)	(18,906)
Cash flows from financing activities:
Borrowings under revolving credit facility	10,000	40,000
Repayments under revolving credit facility	(10,000)	(30,000)
Scheduled principal payments on mortgage debt	(6,584)	(6,545)
Payment of deferred financing costs	0	(1,556)
Payment of dividends to common shareholders	(48,973)	(47,513)
Repurchase of common shares	(1,163)	(1,146)
Net cash used in financing activities	(56,720)	(46,760)
Net decrease in cash, cash equivalents, and restricted cash	(20,886)	(5,468)
Cash, cash equivalents, and restricted cash, beginning of period	102,873	74,916
Cash, cash equivalents, and restricted cash, end of period	81,987	69,448
Supplemental disclosure of cash flow information:
Cash paid for interest	14,805	16,888
Cash paid for income taxes	$ 1,514	$ 745