Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
OPERATING ACTIVITIES
Net income	$ 47,368	$ 67,289
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	50,200	38,458
Amortization of deferred financing costs	998	1,014
Equity-based compensation	4,048	2,994
Realization of deferred gain	0	(15,000)
Gain on disposal of assets, net	(17,288)	(20,806)
Other	(408)	8
Changes in operating assets and liabilities:
Trade receivables, net	(4,057)	(6,132)
Prepaid expenses and other	1,545	595
Accounts payable	(33)	(156)
Accrued expenses and other	2,041	1,829
NET CASH PROVIDED BY OPERATING ACTIVITIES	84,414	70,093
INVESTING ACTIVITIES
Acquisitions of hotel properties	0	(367,135)
Investment in hotel properties under development	(10,828)	(9,865)
Improvements to hotel properties	(30,648)	(13,953)
Proceeds from asset dispositions, net of closing costs	41,735	93,272
Funding of real estate loans	(15,245)	0
Proceeds from collection of real estate loans	0	22,506
Increase in escrow deposits for acquisitions	0	(2,340)
NET CASH USED IN INVESTING ACTIVITIES	(14,986)	(277,515)
FINANCING ACTIVITIES
Proceeds from issuance of debt	420,000	260,000
Principal payments on debt	(337,297)	(178,178)
Proceeds from equity offerings, net of issuance costs	0	163,834
Redemption of preferred stock	(85,000)	0
Dividends paid	(47,265)	(41,270)
Financing fees on debt and other issuance costs	(1,785)	(199)
Repurchase of common shares for withholding requirements	(2,724)	(961)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(54,071)	203,226
Net change in cash, cash equivalents and restricted cash	15,357	(4,196)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Beginning of period	66,007	59,575
End of period	81,364	55,379
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payments for interest	18,638	12,743
Accrued acquisition costs and improvements to hotel properties	5,765	3,897
Capitalized interest	446	73
Cash payments for income taxes, net of refunds	$ 622	$ 463