Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Assets
Investment in hotel properties, net	$ 5,977,524	$ 3,367,776
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	24,959	0
Cash and cash equivalents	421,181	456,672
Restricted cash reserves	78,343	67,206
Hotel and other receivables, net of allowance of $614 and $182, respectively	70,818	26,018
Deferred income tax asset, net	68,642	44,614
Intangible Assets, Net (Excluding Goodwill)	151,098	898
Prepaid expense and other assets	72,498	60,209
Total assets	6,865,063	4,023,393
Liabilities and Equity
Debt, net	2,885,739	1,582,715
Accounts payable and other liabilities	273,315	137,066
Deferred income tax liability	11,430	11,430
Advance deposits and deferred revenue	34,532	11,975
Accrued interest	16,305	3,444
Distributions payable	26,495	41,486
Total liabilities	3,247,816	1,788,116
Commitments and Contingencies (Note 11)
Shareholders’ equity:
Preferred shares of beneficial interest, $0.01 par value, 50,000,000 shares authorized	366,936	0
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 174,913,606 and 124,364,178 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively	1,749	1,244
Additional paid-in capital	3,206,193	2,187,333
Accumulated other comprehensive income (loss)	677	(4,902)
Retained Earnings	(25,326)	38,249
Total shareholders’ equity	3,550,229	2,221,924
Noncontrolling interest:
Noncontrolling interest in consolidated joint ventures	11,125	5,973
Noncontrolling interest in the Operating Partnership	11,463	7,380
Total noncontrolling interest	22,588	13,353
Limited Liability Company (LLC) Preferred Unit, Issuance Value	44,430	0
Total equity	3,617,247	2,235,277
Total liabilities and equity	$ 6,865,063	$ 4,023,393