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Subsequent Events
12 Months Ended
Dec. 31, 2019
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On January 9, 2020, the Company entered into an agreement to sell InterContinental Buckhead Atlanta and Sofitel Washington DC Lafayette Square for an aggregate sales price of $331.0 million to an unaffiliated third-party. The Company expects the sale of these hotel properties to be completed during the first quarter of 2020, subject to customary closing conditions, although no assurances can be given that the sales will be completed on these terms, or at all.
On February 12, 2020, the Board of Trustees granted awards of an aggregate of 278,429 service condition restricted common shares and target performance-based equity to executive officers and employees of the Company. These awards will vest over 3 years. The actual number of common shares to be issued under the performance-based equity awards will be determined in early 2023 and and will be based on certain performance criteria stipulated in the agreements for the period January 1, 2020 through December 31, 2022.
On February 12, 2020, the Board of Trustees granted awards of 415,818 LTIP Class B units to executive officers and 217,083 service condition restricted common shares to employees of the Company. These awards will vest ratably on January 1, 2023, 2024, 2025, and 2026.