Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets:
Investment in hotel properties, net	$ 1,233,094	$ 1,258,452
Cash and cash equivalents	12,118	21,036
Restricted cash	25,083	19,273
Investment in unconsolidated real estate entities	20,424	23,618
Hotel receivables (net of allowance for doubtful accounts of $155 and $95, respectively)	4,389	4,433
Deferred costs, net	4,642	5,365
Prepaid expenses and other assets	2,778	5,052
Deferred tax asset, net	426	0
Total assets	1,302,954	1,337,229
Liabilities and Equity:
Mortgage debt, net	530,323	539,623
Revolving credit facility	52,500	65,580
Accounts payable and accrued expenses	27,782	25,100
Distributions and losses in excess of investments of unconsolidated real estate entities	6,017	2,703
Distributions payable	4,742	7,221
Total liabilities	621,364	640,227
Commitments and contingencies (see note 12)
Shareholders’ Equity:
Preferred shares, $0.01 par value, 100,000,000 shares authorized and unissued at December 31, 2016 and 2015	0	0
Common shares, $0.01 par value, 500,000,000 shares authorized; 38,367,014 and 38,308,937 shares issued and outstanding at December 31, 2016 and 2015, respectively	380	379
Additional paid-in capital	722,019	719,773
Retained earnings (distributions in excess of retained earnings)	(45,657)	(27,281)
Total shareholders’ equity	676,742	692,871
Noncontrolling Interests:
Noncontrolling interest in operating partnership	4,848	4,131
Total equity	681,590	697,002
Total liabilities and equity	$ 1,302,954	$ 1,337,229