Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Investment in hotel properties, net	$ 2,184,232	$ 2,065,554
Undeveloped land	1,500	2,267
Assets held for sale, net	425	7,633
Investment in real estate loans, net	30,936	30,700
Right-of-use assets	29,884
Cash and cash equivalents	42,238	44,088
Restricted cash	27,595	28,468
Trade receivables, net	13,281	13,978
Prepaid expenses and other	8,844	10,111
Deferred charges, net	4,709	4,691
Other assets	12,039	14,807
Total assets	2,355,683	2,222,297
Liabilities:
Debt, net of debt issuance costs	1,016,163	958,712
Lease liabilities	19,604
Accounts payable	4,767	5,391
Accrued expenses and other	71,759	66,050
Total liabilities	1,112,293	1,030,153
Commitments and contingencies (Note 11)
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, 105,169,515 and 104,783,179 shares issued and outstanding at December 31, 2019 and 2018, respectively	1,052	1,048
Additional paid-in capital	1,190,949	1,185,310
Accumulated other comprehensive loss	(16,034)	(1,441)
(Distributions in excess of retained earnings) retained earnings	(2,283)	4,838
Total stockholders’ equity	1,173,778	1,189,849
Non-controlling interests in operating partnership	1,809	2,295
Non-controlling interests in joint venture (Note 9)	67,803
Total equity	1,243,390	1,192,144
Total liabilities and equity	2,355,683	2,222,297
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