Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating activities:
Net income (loss)	$ (22,045)	$ (100,216)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	58,369	59,100
Share-based compensation	2,879	2,354
Amortization of deferred financing costs, non-cash interest and other amortization	3,005	3,489
Gain on sale of hotel properties	(6,635)	0
Impairment	0	60,983
Non-cash ground rent	2,476	2,489
Other adjustments	(4,964)	(1,906)
Changes in assets and liabilities:
Hotel receivables	1,285	(2,694)
Prepaid expenses and other assets	(3,848)	(2,127)
Accounts payable and accrued expenses	4,805	7,147
Deferred revenues	10,902	10,213
Net cash provided by (used in) operating activities	46,229	38,832
Investing activities:
Improvements and additions to hotel properties	(34,514)	(19,906)
Proceeds from sales of hotel properties	131,881	0
Property insurance proceeds	8,357	0
Other investing activities	(548)	(47)
Net cash provided by (used in) investing activities	105,176	(19,953)
Financing activities:
Payment of deferred financing costs	(154)	(32)
Repayments of debt	(498)	(324)
Repurchases of common shares	(42,745)	(1,113)
Distributions — common shares/units	(1,289)	(1,322)
Distributions — preferred shares/units	(12,152)	(11,344)
Repayments of refundable membership deposits	(287)	(1,038)
Net cash provided by (used in) financing activities	(57,125)	(15,173)
Net change in cash and cash equivalents and restricted cash	94,280	3,706
Cash and cash equivalents and restricted cash, beginning of year	52,269	92,247
Cash and cash equivalents and restricted cash, end of period	$ 146,549	$ 95,953