Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating activities:
Net income (loss)	$ (71,419)	$ (120,012)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	119,374	110,144
Share-based compensation	4,974	5,244
Amortization of deferred financing costs, non-cash interest and other amortization	6,852	9,068
Gain on sale of hotel properties	0	(64,558)
Impairment loss	73,254	14,856
Non-cash ground rent	4,978	3,041
Other adjustments	(2,945)	(52)
Changes in assets and liabilities:
Hotel receivables	(19,048)	(17,610)
Prepaid expenses and other assets	(12,328)	7,315
Accounts payable and accrued expenses	34,779	38,765
Deferred revenues	4,158	11,516
Net cash provided by (used in) operating activities	142,629	(2,283)
Investing activities:
Improvements and additions to hotel properties	(42,411)	(26,984)
Proceeds from sales of hotel properties	72,969	171,988
Acquisition of hotel properties	(247,163)	0
Deposits on hotel properties	0	(17,148)
Other investing activities	(86)	(64)
Net cash provided by (used in) investing activities	(216,691)	127,792
Financing activities:
Gross proceeds from issuance of preferred shares	0	230,000
Payment of offering costs — common and preferred shares	(75)	(7,670)
Payment of deferred financing costs	(96)	(9,611)
Borrowings under revolving credit facilities	180,000	0
Repayments under revolving credit facilities	(80,000)	(40,000)
Proceeds from debt	0	268,599
Repayments of debt	(27,111)	(338,000)
Purchases of capped calls for convertible senior notes	0	(20,975)
Repurchases of common shares	(1,113)	(720)
Distributions — common shares/units	(2,644)	(2,634)
Distributions — preferred shares	(22,688)	(16,278)
Repayments of refundable membership deposits	(1,668)	(1,510)
Net cash provided by (used in) financing activities	44,605	61,201
Net change in cash and cash equivalents and restricted cash	(29,457)	186,710
Cash and cash equivalents and restricted cash, beginning of year	92,247	136,300
Cash and cash equivalents and restricted cash, end of period	$ 62,790	$ 323,010