Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Assets
Investment in hotel properties, net	$ 4,519,443	$ 4,614,966
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	7,056	15,171
Cash and cash equivalents	995,963	882,474
Restricted cash reserves	42,686	44,686
Hotel and other receivables, net of allowance of $366 and $251, respectively	14,302	39,762
Operating Lease, Right-of-Use Asset	140,283	144,358
Deferred Income Tax Assets, Net	0	51,447
Prepaid expense and other assets	26,768	58,536
Total assets	5,746,501	5,851,400
Liabilities and Equity
Debt, net	2,590,331	2,195,707
Accounts payable and other liabilities	205,730	183,408
Contract with Customer, Liability	37,287	57,459
Operating Lease, Liability	119,192	121,154
Accrued interest	13,150	3,024
Distributions payable	8,743	64,165
Total liabilities	2,974,433	2,624,917
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 September 30, 2020 and December 31, 2019	366,936	366,936
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 165,022,236 and 169,852,246 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively	1,650	1,699
Additional paid-in capital	3,073,915	3,127,982
Accumulated other comprehensive loss	(76,964)	(19,514)
Retained Earnings	(615,283)	(274,769)
Total shareholders’ equity	2,750,254	3,202,334
Noncontrolling interest:
Noncontrolling interest in consolidated joint ventures	13,513	14,065
Noncontrolling interest in the Operating Partnership	8,301	10,084
Total noncontrolling interest	21,814	24,149
Total equity	2,772,068	3,226,483
Total liabilities and equity	$ 5,746,501	$ 5,851,400