Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets
Investment in hotel properties, net	$ 3,674,999	$ 3,518,803
Cash and cash equivalents	134,192	262,458
Restricted cash reserves	55,455	63,054
Hotel and other receivables, net of allowance of $117 and $166, respectively	25,755	25,691
Deferred financing costs, net	8,096	11,421
Deferred income tax asset	49,978	7,502
Prepaid expense and other assets	31,736	42,115
Assets of hotel properties held for sale	0	197,335
Total assets	3,980,211	4,128,379
Liabilities and Equity
Mortgage loans	407,755	532,747
Term loans	1,175,000	1,025,000
Accounts payable and other liabilities	129,192	129,388
Deferred income tax liability	9,801	7,879
Advance deposits and deferred revenue	11,647	9,984
Accrued interest	4,883	2,783
Distributions payable	41,409	42,114
Total liabilities	$ 1,779,687	$ 1,749,895
Commitments and Contingencies (Note 9)
Shareholders’ equity:
Preferred shares of beneficial interest, $0.01 par value, 50,000,000 shares authorized; zero shares issued and outstanding at December 31, 2015 and 2014, respectively.	$ 0	$ 0
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 124,635,675 and 131,964,706 shares issued and outstanding at December 31, 2015 and 2014, respectively.	1,246	1,319
Additional paid-in-capital	2,195,732	2,419,731
Accumulated other comprehensive loss	(16,602)	(13,644)
Retained earnings (distributions in excess of net earnings)	(2,439)	46,415
Total shareholders’ equity	2,182,815	2,360,991
Noncontrolling interest:
Noncontrolling interest in joint venture	6,177	6,295
Noncontrolling interest in Operating Partnership	11,532	11,198
Total noncontrolling interest	17,709	17,493
Total equity	2,200,524	2,378,484
Total liabilities and equity	$ 3,980,211	$ 4,128,379