Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
ASSETS
Investment in hotel properties, net	$ 5,964,823	$ 6,079,333
Cash and cash equivalents	190,750	58,518
Restricted cash	19,371	33,729
Hotel receivables (net of allowance for doubtful accounts of $391 and $1,142, respectively)	66,759	37,045
Prepaid expenses and other assets	94,683	52,565
Total assets	6,336,386	6,261,190
LIABILITIES AND EQUITY
Debt	2,418,770	2,441,888
Accounts payable, accrued expenses and other liabilities	278,093	250,584
Lease liabilities - operating leases	320,323	319,426
Deferred revenues	72,808	69,064
Accrued interest	10,408	4,567
Distribution payable	12,559	11,756
Total liabilities	3,112,961	3,097,285
Commitments and contingencies (Note 11)
Shareholders’ equity:
Preferred shares of beneficial interest, $.01 par value (liquidation preference $740,000 at September 30, 2022 and December 31, 2021), 100,000,000 shares authorized; 29,600,000 shares issued and outstanding at September 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 September 30, 2022 and 130,813,750 shares issued and outstanding at December 31, 2021	1,309	1,308
Additional paid-in capital	4,273,603	4,268,042
Accumulated other comprehensive income (loss)	38,796	(19,442)
Distributions in excess of retained earnings	(1,178,289)	(1,094,023)
Total shareholders’ equity	3,135,715	3,156,181
Non-controlling interests	87,710	7,724
Total equity	3,223,425	3,163,905
Total liabilities and equity	$ 6,336,386	$ 6,261,190