Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets
Investment in hotel properties, net	$ 3,368,674	$ 3,674,999
Cash and cash equivalents	456,672	134,192
Restricted cash reserves	67,206	55,455
Hotel and other receivables, net of allowance of $182 and $117, respectively	26,018	25,755
Deferred income tax asset	44,614	49,978
Prepaid expense and other assets	60,209	32,563
Total assets	4,023,393	3,972,942
Liabilities and Equity
Mortgage loans, net	413,407	406,049
Term Loans and Revolver, net	1,169,308	1,169,437
Accounts payable and other liabilities	137,066	129,192
Deferred income tax liability	11,430	9,801
Advance deposits and deferred revenue	11,975	11,647
Accrued interest	3,444	4,883
Distributions payable	41,486	41,409
Total liabilities	1,788,116	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 December 31, 2016 and 2015, respectively	0	0
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 124,364,178 and 124,635,675 shares issued and outstanding at December 31, 2016 and 2015, respectively	1,244	1,246
Additional paid-in capital	2,187,333	2,195,732
Accumulated other comprehensive loss	(4,902)	(16,602)
Retained earnings	(38,249)	(2,439)
Total shareholders’ equity	2,221,924	2,182,815
Noncontrolling interest:
Noncontrolling interest in consolidated joint venture	5,973	6,177
Noncontrolling interest in the Operating Partnership	7,380	11,532
Total noncontrolling interest	13,353	17,709
Total equity	2,235,277	2,200,524
Total liabilities and equity	$ 4,023,393	$ 3,972,942