Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
OPERATING ACTIVITIES
Net income	$ 9,691	$ 33,206
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	25,246	18,726
Amortization of deferred financing costs	494	518
Equity-based compensation	2,227	1,130
Realization of deferred gain	0	(15,000)
Loss (gain) on disposal of assets, net	43	(4,456)
Other	(227)	(198)
Changes in operating assets and liabilities:
Trade receivables, net	(3,953)	(4,741)
Prepaid expenses and other	499	49
Accounts payable	(448)	779
Accrued expenses and other	4,174	902
NET CASH PROVIDED BY OPERATING ACTIVITIES	37,746	30,915
INVESTING ACTIVITIES
Acquisitions of hotel properties	0	(60,467)
Investment in hotel properties under development	(4,474)	(5,088)
Improvements to hotel properties	(12,958)	(8,297)
Proceeds from asset dispositions, net of closing costs	0	14,914
Funding of real estate loans	(5,334)	0
Proceeds from collection of real estate loans	0	22,500
NET CASH USED IN INVESTING ACTIVITIES	(22,766)	(36,438)
FINANCING ACTIVITIES
Proceeds from issuance of debt	270,000	100,000
Principal payments on debt	(162,034)	(38,652)
Redemption of preferred stock	(85,000)	0
Dividends paid	(24,782)	(19,394)
Financing fees on debt and other issuance costs	(1,529)	(131)
Repurchase of common shares for withholding requirements	(2,724)	(688)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(6,069)	41,135
Net change in cash, cash equivalents and restricted cash	8,911	35,612
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Beginning of period	66,007	59,575
End of period	74,918	95,187
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payments for interest	8,422	5,887
Accrued acquisition costs and improvements to hotel properties	5,423	2,790
Capitalized interest	187	21
Cash payments for income taxes, net of refunds	$ 212	$ 0