Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
OPERATING ACTIVITIES
Net income	$ 89,734	$ 97,887
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	62,052	53,715
Amortization of deferred financing costs	1,553	1,625
Loss on impairment of assets	0	577
Equity-based compensation	4,483	3,202
Realization of deferred gain	(15,000)	(5,000)
Gain on disposal of assets, net	(28,531)	(44,997)
Other	51	(573)
Changes in operating assets and liabilities:
Restricted cash - operating	(2,326)	(881)
Trade receivables, net	(9,140)	(5,848)
Prepaid expenses and other	1,817	1,109
Accounts payable	(233)	1,215
Accrued expenses and other	9,780	10,348
NET CASH PROVIDED BY OPERATING ACTIVITIES	114,240	112,379
INVESTING ACTIVITIES
Acquisitions of hotel properties	(424,734)	(169,654)
Investment in hotel properties under development	(15,954)	0
Improvements to hotel properties	(25,252)	(31,098)
Proceeds from asset dispositions, net of closing costs	120,901	145,366
Funding of real estate loans	0	(27,500)
Proceeds from collection of real estate loans	32,500	7,814
Increase in restricted cash - FF&E reserve	(1,726)	(1,613)
Decrease in escrow deposits for acquisitions	0	6,446
NET CASH USED IN INVESTING ACTIVITIES	(314,265)	(70,239)
FINANCING ACTIVITIES
Proceeds from issuance of debt	485,000	250,000
Principal payments on debt	(365,087)	(302,546)
Proceeds from equity offerings, net of issuance costs	163,620	72,290
Dividends paid	(63,148)	(47,506)
Financing fees on debt	(1,642)	(1,948)
Repurchase of common shares to satisfy employee withholding requirements	(961)	(1,265)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	217,782	(30,975)
Net change in cash and cash equivalents	17,757	11,165
CASH AND CASH EQUIVALENTS
Beginning of period	34,694	29,326
End of period	52,451	40,491
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payments for interest	20,242	19,425
Accrued acquisition costs and improvements to hotel properties	3,482	1,590
Capitalized interest	172	0
Cash payments for income taxes, net of refunds	$ 600	$ 1,135