Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
ASSETS
Investment in hotel properties, net	$ 5,442,903	$ 5,490,776
Cash and cash equivalents	101,689	183,747
Restricted cash	9,489	9,894
Hotel receivables (net of allowance for doubtful accounts of $343 and $689, respectively)	63,555	43,912
Prepaid expenses and other assets	86,716	96,644
Total assets	5,704,352	5,824,973
LIABILITIES AND EQUITY
Debt	2,207,201	2,319,801
Accounts payable, accrued expenses and other liabilities	238,429	238,644
Lease liabilities - operating leases	320,681	320,617
Deferred revenues	85,112	76,874
Accrued interest	6,637	6,830
Distribution payable	11,857	11,862
Total liabilities	2,869,917	2,974,628
Commitments and contingencies (Note 11)
Shareholders’ equity:
Preferred shares of beneficial interest, $.01 par value (liquidation preference $690,000 at June 30, 2024 and December 31, 2023), 100,000,000 shares authorized; 27,600,000 shares issued and outstanding at June 30, 2024 and December 31, 2023	276	276
Common shares of beneficial interest, $.01 par value, 500,000,000 shares authorized; 120,094,380 shares issued and outstanding at June 30, 2024 and 120,191,349 shares issued and outstanding at December 31, 2023	1,201	1,202
Additional paid-in capital	4,077,360	4,078,912
Accumulated other comprehensive income (loss)	29,281	24,374
Distributions in excess of retained earnings	(1,362,359)	(1,341,264)
Total shareholders’ equity	2,745,759	2,763,500
Non-controlling interests	88,676	86,845
Total equity	2,834,435	2,850,345
Total liabilities and equity	$ 5,704,352	$ 5,824,973