Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
OPERATING ACTIVITIES
Net income	$ 85,369	$ 89,734
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	75,141	62,052
Amortization of deferred financing costs	1,495	1,553
Equity-based compensation	5,367	4,483
Realization of deferred gain	0	(15,000)
Gain on disposal of assets, net	(42,114)	(28,531)
Other	(1,386)	51
Changes in operating assets and liabilities:
Trade receivables, net	(7,054)	(9,140)
Prepaid expenses and other	2,729	1,817
Accounts payable	(627)	(233)
Accrued expenses and other	10,040	9,780
NET CASH PROVIDED BY OPERATING ACTIVITIES	128,960	116,566
INVESTING ACTIVITIES
Acquisitions of hotel properties	(71,002)	(424,734)
Investment in hotel properties under development	(12,208)	(15,954)
Improvements to hotel properties	(49,523)	(25,252)
Proceeds from asset dispositions, net of closing costs	103,587	120,901
Funding of real estate loans	(15,245)	0
Proceeds from collection of real estate loans	0	32,500
NET CASH USED IN INVESTING ACTIVITIES	(44,391)	(312,539)
FINANCING ACTIVITIES
Proceeds from issuance of debt	470,000	485,000
Principal payments on debt	(369,147)	(365,087)
Proceeds from equity offerings, net of issuance costs	0	163,620
Redemption of preferred stock	(85,000)	0
Dividends paid	(69,755)	(63,148)
Financing fees on debt and other issuance costs	(1,850)	(1,642)
Repurchase of common shares for withholding requirements	(2,724)	(961)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(58,476)	217,782
Net change in cash, cash equivalents and restricted cash	26,093	21,809
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Beginning of period	66,007	59,575
End of period	92,100	81,384
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payments for interest	29,038	20,242
Accrued acquisition costs and improvements to hotel properties	7,853	3,482
Capitalized interest	446	172
Cash payments for income taxes, net of refunds	$ 749	$ 600