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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net (loss) income $ (146,995) $ 62,013
Adjustments to reconcile net (loss) income to cash flow (used in) provided by operating activities:    
(Gain) loss on sale of hotel properties, net (94) 24,835
Depreciation and amortization 98,402 113,359
Amortization of deferred financing costs 2,067 1,902
Other amortization (1,192) (967)
Unrealized Gain (Loss) on Cash Flow Hedging Instruments 1,186 (55)
Income (Loss) from Equity Method Investments 390 2,784
Distributions of income from unconsolidated joint ventures 0 1,051
Amortization of share-based compensation 6,021 5,760
Deferred income taxes (13,062) 4,052
Changes in assets and liabilities:    
Hotel and other receivables, net 28,352 (15,655)
Prepaid expense and other assets 16,176 596
Accounts payable and other liabilities (31,642) (6,559)
Increase (Decrease) in Deferred Revenue (16,243) 1,027
Accrued interest 2,268 (991)
Net cash flow (used in) provided by operating activities (54,366) 193,152
Cash flows from investing activities    
Proceeds from the sale of hotel properties, net 94 447,493
Improvements and additions to hotel properties (44,678) (90,308)
Cash Paid to Equity Method Investment, Contribution (100) (603)
Distributions from unconsolidated joint ventures in excess of earnings 1,577 2,436
Net cash flow (used in) provided by investing activities (43,107) 359,018
Cash flows from financing activities    
Borrowings under Revolver 400,000 140,000
Repayment of borrowings under Revolver 0 (140,000)
Proceeds from mortgage loans 0 381,000
Scheduled mortgage loan principal payments (1,687) (2,375)
Proceeds from (Repayments of) Secured Debt 0 (374,500)
Repurchase of common shares under a share repurchase program (62,605) (18,411)
Repurchase of common shares to satisfy employee tax withholding requirements (849) (656)
Payments of Ordinary Dividends, Preferred Stock and Preference Stock (12,557) (12,557)
Distributions on common shares (57,700) (114,737)
Distributions on and redemption of Operating Partnership units (427) (620)
Payments of deferred financing costs (2,106) (4,636)
Payments of Distributions to Affiliates 0 (312)
Redemption of preferred equity - consolidated joint venture 0 (45,583)
Contributions from consolidated joint venture partners 1,264 2,305
Net cash flow provided by (used in) financing activities 263,333 (191,082)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect 165,860 361,088
Cash, cash equivalents, and restricted cash reserves, beginning of year 927,160 384,842
Cash, cash equivalents, and restricted cash reserves, end of period $ 1,093,020 $ 745,930