Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
ASSETS
Investment in hotel properties, net	$ 5,874,876	$ 6,079,333
Hotel held for sale	44,861	0
Cash and cash equivalents	41,040	58,518
Restricted cash	11,229	33,729
Hotel receivables (net of allowance for doubtful accounts of $431 and $1,142, respectively)	45,258	37,045
Prepaid expenses and other assets	116,276	52,565
Total assets	6,133,540	6,261,190
LIABILITIES AND EQUITY
Debt	2,387,293	2,441,888
Accounts payable, accrued expenses and other liabilities	250,518	250,584
Lease liabilities - operating leases	320,402	319,426
Deferred revenues	73,603	69,064
Accrued interest	4,535	4,567
Liabilities related to hotel held for sale	428	0
Distribution payable	12,218	11,756
Total liabilities	3,048,997	3,097,285
Commitments and contingencies (Note 11)
Shareholders’ equity:
Preferred shares of beneficial interest, $.01 par value (liquidation preference $715,000 and $740,000 at December 31, 2022 and December 31, 2021, respectively), 100,000,000 shares authorized; 28,600,000 shares issued and outstanding at December 31, 2022 and 29,600,000 shares issued and outstanding at December 31, 2021	286	296
Common shares of beneficial interest, $.01 par value, 500,000,000 shares authorized; 126,345,293 shares issued and outstanding at December 31, 2022 and 130,813,750 shares issued and outstanding at December 31, 2021	1,263	1,308
Additional paid-in capital	4,182,359	4,268,042
Accumulated other comprehensive income (loss)	35,724	(19,442)
Distributions in excess of retained earnings	(1,223,117)	(1,094,023)
Total shareholders’ equity	2,996,515	3,156,181
Non-controlling interests	88,028	7,724
Total equity	3,084,543	3,163,905
Total liabilities and equity	$ 6,133,540	$ 6,261,190