Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Assets
Investment in hotel properties, net	$ 5,791,925	$ 3,367,776
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	23,885	0
Cash and cash equivalents	586,470	456,672
Restricted cash reserves	72,606	67,206
Hotel and other receivables, net of allowance of $510 and $182, respectively	60,011	26,018
Deferred income tax asset, net	56,761	44,614
Intangible Assets, Net (Excluding Goodwill)	133,211	898
Prepaid expense and other assets	69,936	60,209
Total assets	6,794,805	4,023,393
Liabilities and Equity
Debt, net	2,880,488	1,582,715
Term Loans and Revolver, net	1,170,954	1,169,308
Accounts payable and other liabilities	225,664	137,066
Deferred income tax liability	5,547	11,430
Advance deposits and deferred revenue	30,463	11,975
Accrued interest	17,081	3,444
Distributions payable	65,284	41,486
Total liabilities	3,224,527	1,788,116
Commitments and Contingencies (Note 12)
Shareholders’ equity:
Series A Cumulative Convertible Preferred Shares, $0.01 par value, 12,950,000 shares authorized; 12,879,475 shares issued and outstanding, liquidation value of $328,266 at December 31, 2017	366,936	0
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 174,869,046 and 124,364,178 shares issued and outstanding at December 31, 2017 and 2016, respectively	1,749	1,244
Additional paid-in capital	3,208,002	2,187,333
Accumulated other comprehensive income (loss)	8,846	(4,902)
(Distributions in excess of net earnings) retained earnings	82,566	(38,249)
Total shareholders’ equity	3,502,967	2,221,924
Noncontrolling interest:
Noncontrolling interest in consolidated joint ventures	11,700	5,973
Noncontrolling interest in the Operating Partnership	11,181	7,380
Total noncontrolling interest	22,881	13,353
Limited Liability Company (LLC) Preferred Unit, Issuance Value	44,430	0
Total equity	3,570,278	2,235,277
Total liabilities and equity	$ 6,794,805	$ 4,023,393