Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
OPERATING ACTIVITIES
Net income	$ 99,521	$ 108,261	$ 125,256
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	85,927	72,406	64,052
Amortization of deferred financing costs	2,022	2,143	1,723
Loss on impairment of assets	0	577	1,115
Equity-based compensation	5,887	4,221	4,753
Deferred tax asset, net	887	(2,391)	64
Realization of deferred gain	(15,000)	(5,000)	0
Gain on disposal of assets, net	(28,209)	(44,855)	(65,067)
Non-cash interest income	(284)	0	0
Other	323	180	1,287
Changes in operating assets and liabilities:
Restricted cash - operating	(769)	1,195	18
Trade receivables, net	(5,032)	(2,655)	(1,727)
Prepaid expenses and other	(2,454)	(626)	28
Accounts payable	(491)	1,676	(4,324)
Accrued expenses and other	4,595	2,803	5,038
NET CASH PROVIDED BY OPERATING ACTIVITIES	146,923	137,935	132,216
INVESTING ACTIVITIES
Acquisitions of hotel properties	(588,822)	(244,714)	(236,518)
Improvements to hotel properties	(37,191)	(42,433)	(43,197)
Investment in hotel properties under development	(20,993)	0	(75)
Proceeds from asset dispositions, net of closing costs	120,733	145,347	150,054
Funding of real estate loans	(17,935)	(27,500)	(2,634)
Proceeds from repayment or sale of real estate loans	32,500	7,814	0
(Increase) decrease in restricted cash - FF&E reserve	(3,812)	(3,003)	11,304
Decrease (increase) in escrow deposits for acquisitions	0	10,046	(10,046)
NET CASH USED IN INVESTING ACTIVITIES	(515,520)	(154,443)	(131,112)
FINANCING ACTIVITIES
Proceeds from issuance of debt	667,640	405,000	600,407
Principal payments on debt	(452,082)	(424,545)	(550,150)
Proceeds from equity offerings, net of offering costs	318,307	161,347	0
Redemption of preferred shares	(75,025)	(50,000)	0
Dividends paid	(85,635)	(66,713)	(57,602)
Financing fees on debt	(1,796)	(1,948)	(2,250)
Other	(961)	(1,265)	(764)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	370,448	21,876	(10,359)
Net change in cash and cash equivalents	1,851	5,368	(9,255)
CASH AND CASH EQUIVALENTS
Beginning of period	34,694	29,326	38,581
End of period	36,545	34,694	29,326
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payments for interest	27,362	26,156	28,927
Accrued acquisition costs and improvements to hotel properties	7,074	3,071	1,063
Capitalized interest	301	0	75
Cash payments for income taxes, net of refunds	$ 623	$ 1,228	$ 2,436