Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Assets:
Investment in hotel properties, net	$ 1,328,717	$ 1,347,116
Investment in hotel properties under development	30,546	20,496
Cash and cash equivalents	36,883	6,620
Restricted cash	8,863	13,562
Investment in unconsolidated real estate entities	0	17,969
Right of use asset, net	20,959	21,270
Hotel receivables (net of allowance for doubtful accounts of $355 and $451, respectively)	2,251	4,626
Deferred costs, net	4,495	4,271
Prepaid expenses and other assets	4,612	2,615
Deferred tax asset, net	29	29
Total assets	1,437,355	1,438,574
Liabilities and Equity:
Mortgage debt, net	491,175	495,465
Revolving credit facility	173,000	90,000
Accounts payable and accrued expenses	19,306	33,012
Distributions and losses in excess of investments in unconsolidated real estate entities	17,778	15,214
Lease liability, net	23,483	23,717
Distributions payable	469	6,142
Total liabilities	725,211	663,550
Commitments and contingencies (Note 13)
Shareholders’ Equity:
Preferred shares, $0.01 par value, 100,000,000 shares authorized and unissued at June 30, 2020 and December 31, 2019	0	0
Common shares, $0.01 par value, 500,000,000 shares authorized; 46,965,827 and 46,928,445 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively	470	469
Additional paid-in capital	905,977	904,273
Accumulated deficit	(207,306)	(142,365)
Total shareholders’ equity	699,141	762,377
Noncontrolling Interests:
Noncontrolling interest in Operating Partnership	13,003	12,647
Total equity	712,144	775,024
Total liabilities and equity	$ 1,437,355	$ 1,438,574