Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Assets
Investment in hotel properties, net	$ 3,341,219	$ 3,368,674
Cash and cash equivalents	451,010	456,672
Restricted cash reserves	61,538	67,206
Hotel and other receivables, net of allowance of $157 and $182, respectively	34,668	26,018
Deferred income tax asset	43,676	44,614
Prepaid expense and other assets	60,653	60,209
Total assets	3,992,764	4,023,393
Liabilities and Equity
Debt, net	1,582,432	1,582,715
Accounts payable and other liabilities	116,273	137,066
Deferred income tax liability	11,430	11,430
Advance deposits and deferred revenue	14,263	11,975
Accrued interest	3,697	3,444
Distributions payable	41,699	41,486
Total liabilities	1,769,794	1,788,116
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, 2017 and December 31, 2016, respectively	0	0
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 124,607,489 and 124,364,178 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively	1,246	1,244
Additional paid-in capital	2,189,179	2,187,333
Accumulated other comprehensive income (loss)	646	(4,902)
Retained Earnings	18,711	38,249
Total shareholders’ equity	2,209,782	2,221,924
Noncontrolling interest:
Noncontrolling interest in consolidated joint venture	5,907	5,973
Noncontrolling interest in the Operating Partnership	7,281	7,380
Total noncontrolling interest	13,188	13,353
Total equity	2,222,970	2,235,277
Total liabilities and equity	$ 3,992,764	$ 4,023,393