Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets
Investment in hotel properties, net	$ 4,592,016	$ 4,614,966
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	15,820	15,171
Cash and cash equivalents	1,157,818	882,474
Restricted cash reserves	43,548	44,686
Hotel and other receivables, net of allowance of $339 and $251, respectively	22,773	39,762
Operating Lease, Right-of-Use Asset	143,010	144,358
Deferred Income Tax Assets, Net	52,689	51,447
Prepaid expense and other assets	41,551	58,536
Total assets	6,069,225	5,851,400
Liabilities and Equity
Debt, net	2,594,492	2,195,707
Accounts payable and other liabilities	209,710	183,408
Contract with Customer, Liability	48,930	57,459
Operating Lease, Liability	120,514	121,154
Accrued interest	15,027	3,024
Distributions payable	8,718	64,165
Total liabilities	2,997,391	2,624,917
Commitments and Contingencies (Note 10)
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 March 31, 2020 and December 31, 2019	366,936	366,936
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 164,842,781 and 169,852,246 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	1,649	1,699
Additional paid-in capital	3,067,693	3,127,982
Accumulated other comprehensive loss	(75,991)	(19,514)
Retained Earnings	(311,224)	(274,769)
Total shareholders’ equity	3,049,063	3,202,334
Noncontrolling interest:
Noncontrolling interest in consolidated joint ventures	13,022	14,065
Noncontrolling interest in the Operating Partnership	9,749	10,084
Total noncontrolling interest	22,771	24,149
Total equity	3,071,834	3,226,483
Total liabilities and equity	$ 6,069,225	$ 5,851,400