Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Investment in hotel properties, net	$ 1,902,949	$ 1,545,122
Investment in hotel properties under development	18,754	0
Land held for development	2,942	5,742
Assets held for sale	1,193	62,695
Investment in real estate loans, net	0	17,585
Cash and cash equivalents	52,451	34,694
Restricted cash	28,933	24,881
Trade receivables, net	20,899	11,807
Prepaid expenses and other	5,294	6,474
Deferred charges, net	4,669	3,727
Other assets	5,794	5,778
Total assets	2,043,878	1,718,505
Liabilities:
Debt, net of debt issuance costs	772,275	652,414
Accounts payable	7,257	4,623
Accrued expenses and other	56,306	46,880
Derivative financial instruments	438	1,118
Total liabilities	836,276	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, 104,266,587 and 93,525,469 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively	1,043	935
Additional paid-in capital	1,178,896	1,011,412
Accumulated other comprehensive loss	(300)	(977)
Retained earnings (deficit) and distributions	24,783	(1,422)
Total stockholders’ equity	1,204,516	1,010,042
Non-controlling interests in operating partnership	3,086	3,428
Total equity	1,207,602	1,013,470
Total liabilities and equity	2,043,878	1,718,505
7.875% Series B - 3,000,000 shares issued and outstanding at September 30, 2017 and December 31, 2016 (aggregate liquidation preference of $75,492 at September 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 September 30, 2017 and December 31, 2016 (aggregate liquidation preference of $85,505 at September 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 September 30, 2017 and December 31, 2016 (aggregate liquidation preference of $75,403 at September 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