Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
OPERATING ACTIVITIES
Net income	$ 91,126	$ 99,521	$ 108,261
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	101,013	85,927	72,406
Amortization of deferred financing costs	1,973	2,022	2,143
Loss on impairment of assets	1,075	0	577
Equity-based compensation	6,665	5,887	4,221
Deferred tax asset, net	(430)	887	(2,391)
Realization of deferred gain	0	(15,000)	(5,000)
Gain on disposal of assets, net	(41,474)	(28,209)	(44,855)
Non-cash interest income	(2,045)	(284)	0
Other	1,171	323	180
Changes in operating assets and liabilities:
Trade receivables, net	2,787	(5,032)	(2,655)
Prepaid expenses and other	(1,127)	(2,454)	(626)
Accounts payable	(424)	(491)	1,676
Accrued expenses and other	1,341	4,595	2,803
NET CASH PROVIDED BY OPERATING ACTIVITIES	161,651	147,692	136,740
INVESTING ACTIVITIES
Acquisitions of hotel properties	(71,002)	(588,822)	(244,714)
Improvements to hotel properties	(66,610)	(37,191)	(42,433)
Investment in hotel properties under development	(13,430)	(20,993)	0
Proceeds from asset dispositions, net of closing costs	104,030	120,733	145,347
Funding of real estate loans	(16,245)	(17,935)	(27,500)
Proceeds from repayment or sale of real estate loans	200	32,500	7,814
Decrease in escrow deposits for acquisitions	0	0	10,046
NET CASH USED IN INVESTING ACTIVITIES	(63,057)	(511,708)	(151,440)
FINANCING ACTIVITIES
Proceeds from issuance of debt	815,000	667,640	405,000
Principal payments on debt	(723,098)	(452,082)	(424,545)
Proceeds from equity offerings, net of issuance costs	0	318,307	161,347
Redemption of preferred stock	(85,000)	(75,025)	(50,000)
Dividends paid	(92,245)	(85,635)	(66,713)
Financing fees on debt and other issuance costs	(3,978)	(1,796)	(1,948)
Repurchase of common shares for withholding requirements	(2,724)	(961)	(1,265)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(92,045)	370,448	21,876
Net change in cash, cash equivalents and restricted cash	6,549	6,432	7,176
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Beginning of period	66,007	59,575	52,399
End of period	72,556	66,007	59,575
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payments for interest	38,743	27,362	26,156
Accrued acquisition costs and improvements to hotel properties	6,084	7,074	3,071
Capitalized interest	446	301	0
Cash payments for income taxes, net of refunds	$ 839	$ 623	$ 1,228