Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
ASSETS
Investment in hotel properties, net	$ 1,857,548	$ 1,545,122
Investment in hotel properties under development	12,665	0
Land held for development	2,942	5,742
Assets held for sale	20,820	62,695
Investment in real estate loans, net	10,145	17,585
Cash and cash equivalents	29,819	34,694
Restricted cash	25,560	24,881
Trade receivables, net	17,939	11,807
Prepaid expenses and other	8,731	6,474
Deferred charges, net	4,618	3,727
Other assets	5,754	5,778
Total assets	1,996,541	1,718,505
Liabilities:
Debt, net of debt issuance costs	735,206	652,414
Accounts payable	7,647	4,623
Accrued expenses and other	47,549	46,880
Derivative financial instruments	595	1,118
Total liabilities	790,997	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, 104,238,807 and 93,525,469 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively	1,042	935
Additional paid-in capital	1,177,264	1,011,412
Accumulated other comprehensive loss	(456)	(977)
Retained earnings (deficit) and distributions	24,318	(1,422)
Total stockholders’ equity	1,202,262	1,010,042
Non-controlling interests in operating partnership	3,282	3,428
Total equity	1,205,544	1,013,470
Total liabilities and equity	1,996,541	1,718,505
7.875% Series B - 3,000,000 shares issued and outstanding at June 30, 2017 and December 31, 2016 (aggregate liquidation preference of $75,492 at June 30, 2017 and $75,509 at December 31, 2016)
Preferred stock, $.01 par value per share, 100,000,000 shares authorized:
Preferred stock	30	30
7.125% Series C - 3,400,000 shares issued and outstanding at June 30, 2017 and December 31, 2016 (aggregate liquidation preference of $85,505 at June 30, 2017 and $85,522 at December 31, 2016)
Preferred stock, $.01 par value per share, 100,000,000 shares authorized:
Preferred stock	34	34
6.45% Series D - 3,000,000 shares issued and outstanding at June 30, 2017 and December 31, 2016 (aggregate liquidation preference of $75,403 at June 30, 2017 and $75,417 at December 31, 2016)
Preferred stock, $.01 par value per share, 100,000,000 shares authorized:
Preferred stock	$ 30	$ 30