Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income (loss)	$ 12,000	$ (7,399)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	44,797	40,172
Amortization of deferred franchise fees	187	183
Amortization of deferred financing fees included in interest expense	1,096	1,444
(Gain) loss on sale of hotel properties	(2,129)	21
Gain on sale of investment in unconsolidated real estate entities	0	(23,817)
Share based compensation	4,132	3,585
Loss from unconsolidated real estate entities	0	1,231
Changes in assets and liabilities:
Right of use asset	512	490
Hotel receivables	(12,240)	(1,547)
Deferred costs	(175)	(327)
Prepaid expenses and other assets	(3,702)	(2,872)
Accounts payable and accrued expenses	6,482	7,649
Lease liability	(434)	(397)
Net cash provided by operating activities	50,526	18,416
Cash flows from investing activities:
Improvements and additions to hotel properties	(12,385)	(5,224)
Acquisition of hotel properties	(31,048)	(71,335)
Investment in hotel properties under development	(3,995)	(20,517)
Proceeds from sale of hotel properties, net	79,569	0
Proceeds from sale of unconsolidated real estate entity	0	2,800
Receipt of deferred key money	400	0
Net cash provided by (used in) investing activities	32,541	(94,276)
Cash flows from financing activities:
Borrowings on revolving credit facility	40,000	90,000
Repayments on revolving credit facility	(110,000)	(155,300)
Borrowings on construction loan	4,324	18,958
Payments on mortgage debt	(6,697)	(18,992)
Payment of financing costs	(194)	(144)
Proceeds from issuance of common shares	45	24,598
Proceeds from issuance of preferred shares	0	120,000
Distributions-common shares/units	(147)	(282)
Distributions-preferred shares	(5,962)	0
Net cash (used in) provided by financing activities	(78,738)	73,973
Net change in cash, cash equivalents and restricted cash	4,329	(1,887)
Cash, cash equivalents and restricted cash, beginning of period	29,869	31,453
Cash, cash equivalents and restricted cash, end of period	34,198	29,566
Supplemental disclosure of cash flow information:
Cash paid for interest	19,169	19,507
Capitalized interest	330	2,508
Cash paid for income taxes	695	322
Common Shares
Cash flows from financing activities:
Payment of offering costs on common/preferred shares	(107)	(822)
Preferred Shares
Cash flows from financing activities:
Payment of offering costs on common/preferred shares	$ 0	$ (4,043)