Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
OPERATING ACTIVITIES
Net (loss) income	$ (6,849)	$ 13,299
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	112,300	112,462
Amortization of debt issuance costs	4,379	4,238
Recoveries of credit losses	(500)	(1,100)
Equity-based compensation	5,913	7,070
Deferred tax asset, net	63	0
Loss (gain) on disposal of assets, net	336	(20,479)
Non-cash interest income	(433)	(113)
Debt transaction costs	352	1,166
Other	560	303
Changes in operating assets and liabilities:
Trade receivables, net	(3,195)	(9,755)
Prepaid expenses and other	6,645	(4,828)
Accounts payable	1,005	(244)
Accrued expenses and other	2,591	33,662
NET CASH PROVIDED BY OPERATING ACTIVITIES	123,167	135,681
INVESTING ACTIVITIES
Acquisitions of lodging properties	(44,614)	(281,074)
Improvements to lodging properties	(63,027)	(48,772)
Proceeds from asset dispositions, net	27,632	73,758
Funding of real estate loans	(4,576)	(2,167)
Repayments of real estate loans	250	850
NET CASH USED IN INVESTING ACTIVITIES	(84,335)	(257,405)
FINANCING ACTIVITIES
Proceeds from borrowings on revolving line of credit	65,000	486,500
Repayments of line of credit borrowings	(65,000)	(20,000)
Principal payments on debt	(1,784)	(448,874)
Proceeds from the sale of non-controlling interests	1,353	674
Financing fees, debt transaction costs and other issuance costs	(10,273)	(7,203)
Common dividends and distributions paid	(19,596)	(5,174)
Preferred dividends and distributions paid	(14,037)	(13,632)
Proceeds from contributions by non-controlling interests in joint venture	20,332	204,092
Distributions to joint venture partners	(8,673)	(77,903)
Repurchase of shares of common stock for withholding requirements	(1,387)	(2,455)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(34,065)	116,025
Net change in cash, cash equivalents and restricted cash	4,767	(5,699)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Beginning of period	61,808	96,944
End of period	66,575	91,245
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH WITHIN THE CONSOLIDATED BALANCE SHEET TO THE AMOUNTS SHOWN IN THE STATEMENT OF CASH FLOWS ABOVE:
Cash and cash equivalents	55,307	72,617
Restricted cash	11,268	18,628
TOTAL CASH, CASH EQUIVALENTS AND RESTRICTED CASH	$ 66,575	$ 91,245