Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
ASSETS
Investment in hotel properties, net	$ 1,470,749	$ 1,333,407
Land held for development	5,742	5,742
Assets held for sale	62,613	133,138
Investment in real estate loans, net	17,582	12,803
Cash and cash equivalents	40,491	29,326
Restricted cash	25,567	23,073
Trade receivables, net	15,232	9,437
Prepaid expenses and other	8,013	15,281
Deferred charges, net	3,729	3,628
Other assets	10,510	9,559
Total assets	1,660,228	1,575,394
Liabilities:
Debt, net of debt issuance costs	618,892	671,536
Accounts payable	4,162	2,947
Accrued expenses and other	53,829	42,174
Derivative financial instruments	1,913	1,811
Total liabilities	678,796	718,468
Commitments and contingencies (Note 8)
Preferred stock, $.01 par value per share, 100,000,000 shares authorized:
Common stock, $.01 par value per share, 500,000,000 shares authorized, 87,314,950 and 86,793,521 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively	873	868
Additional paid-in capital	968,746	894,060
Accumulated other comprehensive loss	(1,767)	(1,666)
Accumulated deficit and distributions	9,470	(40,635)
Total stockholders’ equity	977,436	852,711
Non-controlling interests in Operating Partnership	3,996	4,215
Total equity	981,432	856,926
Total liabilities and equity	1,660,228	1,575,394
9.25% Series A Preferred Stock
Preferred stock, $.01 par value per share, 100,000,000 shares authorized:
Preferred stock	20	20
7.875% Series B Preferred Stock
Preferred stock, $.01 par value per share, 100,000,000 shares authorized:
Preferred stock	30	30
7.125% Series C Preferred Stock
Preferred stock, $.01 par value per share, 100,000,000 shares authorized:
Preferred stock	34	34
6.450% Series D Preferred Stock
Preferred stock, $.01 par value per share, 100,000,000 shares authorized:
Preferred stock	$ 30	$ 0