Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Assets
Investment in hotel properties, net	$ 4,442,945	$ 4,486,416
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	6,665	6,798
Cash and cash equivalents	647,844	899,813
Restricted cash reserves	33,391	34,977
Hotel and other receivables, net of allowance of $253 and $292, respectively	19,054	13,346
Operating Lease, Right-of-Use Asset	141,660	142,989
Prepaid expense and other assets	37,004	32,833
Total assets	5,328,563	5,617,172
Liabilities and Equity
Debt, net	2,377,981	2,587,731
Accounts payable and other liabilities	159,538	172,325
Contract with Customer, Liability	28,211	32,177
Operating Lease, Liability	121,954	122,593
Accrued interest	13,288	6,206
Distributions payable	8,383	8,752
Total liabilities	2,709,355	2,929,784
Commitments and Contingencies (Note 11)
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, 2021 and December 31, 2020	366,936	366,936
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 164,918,126 and 165,002,752 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	1,649	1,650
Additional paid-in capital	3,078,824	3,077,142
Accumulated other comprehensive loss	(52,330)	(69,050)
Retained Earnings	(795,706)	(710,161)
Total shareholders’ equity	2,599,373	2,666,517
Noncontrolling interest:
Noncontrolling interest in consolidated joint ventures	12,365	13,002
Noncontrolling interest in the Operating Partnership	7,470	7,869
Total noncontrolling interest	19,835	20,871
Total equity	2,619,208	2,687,388
Total liabilities and equity	$ 5,328,563	$ 5,617,172