Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
ASSETS
Investment in hotel properties, net	$ 6,021,473	$ 6,332,587
Hotel held for sale	56,874	0
Cash and cash equivalents	339,810	30,098
Restricted cash	13,027	26,777
Hotel receivables (net of allowance for doubtful accounts of $890 and $738, respectively)	8,678	49,619
Prepaid expenses and other assets	55,241	59,474
Total assets	6,495,103	6,498,555
LIABILITIES AND EQUITY
Debt	2,452,970	2,229,220
Accounts payable, accrued expenses and other liabilities	247,094	260,166
Lease liabilities - operating leases	256,344	256,271
Deferred revenues	35,377	57,704
Accrued interest	3,492	4,694
Liabilities related to hotel held for sale	1,772	0
Distribution payable	9,308	58,564
Total liabilities	3,006,357	2,866,619
Commitments and contingencies (Note 11)
Shareholders’ equity:
Preferred shares of beneficial interest, $.01 par value (liquidation preference $510,000 at June 30, 2020 and at December 31, 2019), 100,000,000 shares authorized; 20,400,000 shares issued and outstanding at June 30, 2020 and December 31, 2019	204	204
Common shares of beneficial interest, $.01 par value, 500,000,000 shares authorized; 130,564,060 shares issued and outstanding at June 30, 2020 and 130,484,956 shares issued and outstanding at December 31, 2019	1,306	1,305
Additional paid-in capital	4,077,497	4,069,410
Accumulated other comprehensive income (loss)	(79,385)	(24,715)
Distributions in excess of retained earnings	(531,914)	(424,996)
Total shareholders’ equity	3,467,708	3,621,208
Non-controlling interests	21,038	10,728
Total equity	3,488,746	3,631,936
Total liabilities and equity	$ 6,495,103	$ 6,498,555