Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
ASSETS
Investment in hotel properties, net	$ 5,553,122	$ 5,874,876
Hotels held for sale	65,453	44,861
Cash and cash equivalents	182,665	41,040
Restricted cash	8,946	11,229
Hotel receivables (net of allowance for doubtful accounts of $519 and $431, respectively)	56,842	45,258
Prepaid expenses and other assets	131,800	116,276
Total assets	5,998,828	6,133,540
LIABILITIES AND EQUITY
Debt	2,366,945	2,387,293
Accounts payable, accrued expenses and other liabilities	272,745	250,518
Lease liabilities - operating leases	320,571	320,402
Deferred revenues	74,576	73,603
Accrued interest	10,720	4,535
Liabilities related to hotels held for sale	1,647	428
Distribution payable	12,156	12,218
Total liabilities	3,059,360	3,048,997
Commitments and contingencies (Note 11)
Shareholders’ equity:
Preferred shares of beneficial interest, $.01 par value (liquidation preference $715,000 at September 30, 2023 and December 31, 2022), 100,000,000 shares authorized; 28,600,000 shares issued and outstanding at September 30, 2023 and December 31, 2022	286	286
Common shares of beneficial interest, $.01 par value, 500,000,000 shares authorized; 120,057,744 shares issued and outstanding at September 30, 2023 and 126,345,293 shares issued and outstanding at December 31, 2022	1,201	1,263
Additional paid-in capital	4,097,130	4,182,359
Accumulated other comprehensive income (loss)	45,834	35,724
Distributions in excess of retained earnings	(1,295,089)	(1,223,117)
Total shareholders’ equity	2,849,362	2,996,515
Non-controlling interests	90,106	88,028
Total equity	2,939,468	3,084,543
Total liabilities and equity	$ 5,998,828	$ 6,133,540