Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets:
Investment in hotel properties, net	$ 1,339,778	$ 1,347,116
Investment in hotel properties under development	26,693	20,496
Cash and cash equivalents	57,972	6,620
Restricted cash	11,599	13,562
Investment in unconsolidated real estate entities	0	17,969
Right of use asset, net	21,115	21,270
Hotel receivables (net of allowance for doubtful accounts of $340 and $451, respectively)	2,801	4,626
Deferred costs, net	4,094	4,271
Prepaid expenses and other assets	6,011	2,615
Deferred tax asset, net	29	29
Total assets	1,470,092	1,438,574
Liabilities and Equity:
Mortgage debt, net	493,265	495,465
Revolving credit facility	173,000	90,000
Accounts payable and accrued expenses	25,285	33,012
Distributions and losses in excess of investments in unconsolidated real estate entities	16,200	15,214
Lease liability, net	23,603	23,717
Distributions payable	469	6,142
Total liabilities	731,822	663,550
Commitments and contingencies (Note 13)
Shareholders’ Equity:
Preferred shares, $0.01 par value, 100,000,000 shares authorized and unissued at March 31, 2020 and December 31, 2019	0	0
Common shares, $0.01 par value, 500,000,000 shares authorized; 46,960,389 and 46,928,445 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	469	469
Additional paid-in capital	905,936	904,273
Retained earnings (distributions in excess of retained earnings)	(180,479)	(142,365)
Total shareholders’ equity	725,926	762,377
Noncontrolling Interests:
Noncontrolling interest in Operating Partnership	12,344	12,647
Total equity	738,270	775,024
Total liabilities and equity	$ 1,470,092	$ 1,438,574