Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets
Investment in hotel properties, net	$ 3,643,206	$ 3,674,999
Cash and cash equivalents	126,004	134,192
Restricted cash reserves	54,547	55,455
Hotel and other receivables, net of allowance of $129 and $117, respectively	31,007	25,755
Deferred income tax asset	48,847	49,978
Prepaid expense and other assets	36,727	32,563
Total assets	3,940,338	3,972,942
Liabilities and Equity
Mortgage loans, net	415,546	406,049
Term loans and revolving credit facility, net	1,169,840	1,169,437
Accounts payable and other liabilities	130,776	129,192
Deferred income tax liability	9,801	9,801
Advance deposits and deferred revenue	13,460	11,647
Accrued interest	4,872	4,883
Distributions payable	41,361	41,409
Total liabilities	$ 1,785,656	$ 1,772,418
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 March 31, 2016 and December 31, 2015, respectively	$ 0	$ 0
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 124,807,780 and 124,635,675 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively	1,248	1,246
Additional paid-in-capital	2,190,737	2,195,732
Accumulated other comprehensive loss	(36,850)	(16,602)
(Distributions in excess of net earnings) retained earnings	(13,448)	2,439
Total shareholders’ equity	2,141,687	2,182,815
Noncontrolling interest:
Noncontrolling interest in consolidated joint venture	5,856	6,177
Noncontrolling interest in the Operating Partnership	7,139	11,532
Total noncontrolling interest	12,995	17,709
Total equity	2,154,682	2,200,524
Total liabilities and equity	$ 3,940,338	$ 3,972,942