Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
ASSETS
Investment in hotel properties, net	$ 5,703,446	$ 5,874,876
Hotels held for sale	70,859	44,861
Cash and cash equivalents	138,515	41,040
Restricted cash	8,034	11,229
Hotel receivables (net of allowance for doubtful accounts of $292 and $431, respectively)	43,422	45,258
Prepaid expenses and other assets	113,459	116,276
Total assets	6,077,735	6,133,540
LIABILITIES AND EQUITY
Debt	2,388,017	2,387,293
Accounts payable, accrued expenses and other liabilities	258,934	250,518
Lease liabilities - operating leases	320,469	320,402
Deferred revenues	82,450	73,603
Accrued interest	9,359	4,535
Liabilities related to hotels held for sale	2,214	428
Distribution payable	12,181	12,218
Total liabilities	3,073,624	3,048,997
Commitments and contingencies (Note 11)
Shareholders’ equity:
Preferred shares of beneficial interest, $.01 par value (liquidation preference $715,000 at March 31, 2023 and December 31, 2022), 100,000,000 shares authorized; 28,600,000 shares issued and outstanding at March 31, 2023 and December 31, 2022	286	286
Common shares of beneficial interest, $.01 par value, 500,000,000 shares authorized; 123,632,667 shares issued and outstanding at March 31, 2023 and 126,345,293 shares issued and outstanding at December 31, 2022	1,236	1,263
Additional paid-in capital	4,142,491	4,182,359
Accumulated other comprehensive income (loss)	29,891	35,724
Distributions in excess of retained earnings	(1,258,275)	(1,223,117)
Total shareholders’ equity	2,915,629	2,996,515
Non-controlling interests	88,482	88,028
Total equity	3,004,111	3,084,543
Total liabilities and equity	$ 6,077,735	$ 6,133,540