Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
ASSETS
Investment in hotel properties, net	$ 6,039,477	$ 6,079,333
Hotels held for sale	146,805	0
Cash and cash equivalents	32,046	58,518
Restricted cash	30,744	33,729
Hotel receivables (net of allowance for doubtful accounts of $281 and $1,142, respectively)	54,899	37,045
Prepaid expenses and other assets	84,954	52,565
Total assets	6,388,925	6,261,190
LIABILITIES AND EQUITY
Debt	2,517,751	2,441,888
Accounts payable, accrued expenses and other liabilities	261,169	250,584
Lease liabilities - operating leases	320,315	319,426
Deferred revenues	75,340	69,064
Accrued interest	4,821	4,567
Liabilities related to hotels held for sale	4,636	0
Distribution payable	12,217	11,756
Total liabilities	3,196,249	3,097,285
Commitments and contingencies (Note 11)
Shareholders’ equity:
Preferred shares of beneficial interest, $.01 par value (liquidation preference $740,000 at June 30, 2022 and December 31, 2021), 100,000,000 shares authorized; 29,600,000 shares issued and outstanding at June 30, 2022 and December 31, 2021	296	296
Common shares of beneficial interest, $.01 par value, 500,000,000 shares authorized; 130,905,132 shares issued and outstanding at June 30, 2022 and 130,813,750 shares issued and outstanding at December 31, 2021	1,309	1,308
Additional paid-in capital	4,271,169	4,268,042
Accumulated other comprehensive income (loss)	23,748	(19,442)
Distributions in excess of retained earnings	(1,190,693)	(1,094,023)
Total shareholders’ equity	3,105,829	3,156,181
Non-controlling interests	86,847	7,724
Total equity	3,192,676	3,163,905
Total liabilities and equity	$ 6,388,925	$ 6,261,190