Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Investment in hotel properties, net	$ 1,577,751	$ 1,538,868
Investment in hotel properties under development	7,888	0
Land held for development	2,942	5,742
Assets held for sale	62,816	62,695
Investment in real estate loans, net	10,085	17,585
Cash and cash equivalents	68,046	34,694
Restricted cash	27,141	24,881
Trade receivables, net	16,548	11,807
Prepaid expenses and other	7,065	6,474
Deferred charges, net	3,851	3,727
Other assets	11,986	12,032
Total assets	1,796,119	1,718,505
Liabilities:
Debt, net of debt issuance costs	714,306	652,414
Accounts payable	5,402	4,623
Accrued expenses and other	47,635	46,880
Derivative financial instruments	769	1,118
Total liabilities	768,112	705,035
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, 93,811,172 and 93,525,469 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively	938	935
Additional paid-in capital	1,011,938	1,011,412
Accumulated other comprehensive loss	(629)	(977)
Retained earnings (deficit) and distributions	12,268	(1,422)
Total stockholders’ equity	1,024,609	1,010,042
Non-controlling interests in operating partnership	3,398	3,428
Total equity	1,028,007	1,013,470
Total liabilities and equity	1,796,119	1,718,505
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	$ 30