Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
ASSETS
Investment in hotel properties, net	$ 2,082,605	$ 2,059,492
Investment in hotel properties under development	0	23,793
Land held for development	2,942	2,942
Assets held for sale, net	1,193	1,193
Investment in real estate loans, net	29,387	12,356
Cash and cash equivalents	60,533	36,545
Restricted cash	31,567	29,462
Trade receivables, net	23,969	16,985
Prepaid expenses and other	6,254	9,454
Deferred charges, net	4,854	5,221
Other assets	19,627	12,431
Total assets	2,262,931	2,209,874
Liabilities:
Debt, net of debt issuance costs	969,146	868,236
Accounts payable	5,200	7,774
Accrued expenses and other	71,350	56,488
Total liabilities	1,045,696	932,498
Commitments and contingencies (Note 8)
Preferred stock, $0.01 par value per share, 100,000,000 shares authorized:
Common stock, $0.01 par value per share, 500,000,000 shares authorized, 104,745,710 and 104,287,128 shares issued and outstanding at September 30, 2018 and December 31, 2017, respectively	1,047	1,043
Additional paid-in capital	1,183,694	1,262,679
Accumulated other comprehensive income	8,033	1,451
Retained earnings	21,648	9,201
Total stockholders’ equity	1,214,516	1,274,502
Non-controlling interests in operating partnership	2,719	2,874
Total equity	1,217,235	1,277,376
Total liabilities and equity	2,262,931	2,209,874
7.125% Series C Preferred Stock
Preferred stock, $0.01 par value per share, 100,000,000 shares authorized:
Preferred stock	0	34
6.45% Series D Preferred Stock
Preferred stock, $0.01 par value per share, 100,000,000 shares authorized:
Preferred stock	30	30
6.25% Series E Preferred Stock
Preferred stock, $0.01 par value per share, 100,000,000 shares authorized:
Preferred stock	$ 64	$ 64