Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
ASSETS
Investment in hotel properties, net	$ 2,065,554	$ 2,059,492
Investment in hotel properties under development	0	23,793
Undeveloped land	2,267	2,942
Assets held for sale, net	7,633	1,193
Investment in real estate loans, net	30,700	12,356
Cash and cash equivalents	44,088	36,545
Restricted cash	28,468	29,462
Trade receivables, net	13,978	16,985
Prepaid expenses and other	10,111	9,454
Deferred charges, net	4,691	5,221
Other assets	14,807	12,431
Total assets	2,222,297	2,209,874
Liabilities:
Debt, net of debt issuance costs	958,712	868,236
Accounts payable	5,391	7,774
Accrued expenses and other	66,050	56,488
Total liabilities	1,030,153	932,498
Commitments and contingencies (Note 10)
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, 104,783,179 and 104,287,128 shares issued and outstanding at December 31, 2018 and 2017, respectively	1,048	1,043
Additional paid-in capital	1,185,310	1,262,679
Accumulated other comprehensive (loss) income	(1,441)	1,451
Retained earnings	4,838	9,201
Total stockholders’ equity	1,189,849	1,274,502
Non-controlling interests in operating partnership	2,295	2,874
Total equity	1,192,144	1,277,376
Total liabilities and equity	2,222,297	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