Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating activities:
Net income (loss)	$ 100,262	$ 73,962	$ 94,995
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	102,290	102,439	95,872
Share-based compensation	5,646	8,466	8,331
(Gain) loss on derivative instruments	(265)	(283)	0
Amortization of deferred financing costs and mortgage loan premiums	2,040	1,513	(29)
Gain on sale of hotel properties	(14,877)	(40,690)	0
Impairment and other losses	3,849	12,148	0
Non-cash ground rent	2,884	2,762	2,380
Equity in (earnings) loss from joint venture	0	66,636	(3,824)
Other	2,378	2,654	2,038
Changes in assets and liabilities:
Restricted cash, net	1,411	1,288	1,635
Hotel receivables	(1,270)	1,263	(3,107)
Prepaid expenses and other assets	(2,161)	2,286	(212)
Distributions from joint venture	0	0	13,858
Accounts payable and accrued expenses	(7,415)	4,492	4,161
Advance deposits	278	2,324	4,622
Net cash provided by (used in) operating activities	195,050	241,260	220,720
Investing activities:
Acquisition of hotel properties	0	0	(305,146)
Improvements and additions to hotel properties	(80,825)	(121,899)	(99,785)
Proceeds from joint venture redemption	0	2,530	0
Deposit received on hotel properties	2,000	3,000	(3,000)
Proceeds from sale of hotel properties	203,479	364,390	0
Receipt from (acquisition of) note receivable	0	50,000	3,020
Purchase of corporate office equipment, software, and furniture	(40)	(74)	(278)
Restricted cash, net	(1,115)	746	5,295
Property insurance proceeds	7,674	0	0
Net cash provided by (used in) investing activities	131,173	298,693	(399,894)
Financing activities:
Gross proceeds from issuance of preferred shares	0	125,000	0
Payment of offering costs — common and preferred shares	(62)	(4,189)	(195)
Payment of deferred financing costs	(5,411)	(1,414)	(3,311)
Contributions from non-controlling interest	106	0	0
Borrowings under revolving credit facilities	238,687	469,000	490,000
Repayments under revolving credit facilities	(275,687)	(552,000)	(375,000)
Proceeds from term loans	0	150,000	225,000
Proceeds from senior unsecured notes	0	0	100,000
Repayments of mortgage debt	(72,317)	(365,583)	(171,488)
Repurchase of common shares	(95,982)	(2,496)	(4,094)
Redemption of preferred shares	0	(225,050)	0
Distributions — common shares/units	(107,329)	(105,321)	(84,037)
Distributions — preferred shares	(16,094)	(21,770)	(25,950)
Proceeds from refundable membership deposits	656	1,658	2,302
Repayments of refundable membership deposits	(790)	(723)	(591)
Net cash provided by (used in) financing activities	(334,223)	(532,888)	152,636
Net change in cash and cash equivalents	(8,000)	7,065	(26,538)
Cash and cash equivalents, beginning of year	33,410	26,345	52,883
Cash and cash equivalents, end of year	$ 25,410	$ 33,410	$ 26,345