CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities:
Net income	$ 40,074	$ 117,099	$ 274,643	$ 294,594
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	103,160	101,007	301,721	300,308
Amortization of debt issuance costs and debt discounts and premiums as interest	2,689	2,570	7,829	7,607
Straight line rental income			7,368	(9,359)
Security deposits replenished (utilized)			(10,052)	7,687
Loss on early extinguishment of debt	8,451	0	8,451	160
Unrealized (gains) and losses on equity securities, net	3,950	(43,453)	43,761	(89,348)
Equity in earnings of an investee	(83)	(830)	(617)	(881)
Gain on sale of real estate	0	0	(159,535)	0
Other non-cash (income) expense, net			109	(2,226)
Changes in assets and liabilities:
Due from related persons			3,609	(585)
Other assets			(6,352)	(8,627)
Accounts payable and other liabilities			12,743	(21,259)
Due to related persons			(51,148)	(74,667)
Net cash provided by operating activities			432,530	403,404
Cash flows from investing activities:
Real estate acquisitions and deposits			(2,659,186)	(95,208)
Real estate improvements			(71,024)	(111,248)
Hotel managers’ purchases with restricted cash			(143,692)	(89,401)
Hotel manager’s deposit of insurance proceeds into restricted cash			14,325	18,000
Net proceeds from sale of real estate			308,200	0
Net proceeds from sale of equity securities			93,892	0
Net cash used in investing activities			(2,457,485)	(277,857)
Cash flows from financing activities:
Proceeds from issuance of senior unsecured notes, after discounts and premiums			1,693,879	389,976
Borrowings under unsecured revolving credit facility			997,000	395,000
Repayments of unsecured revolving credit facility			(384,000)	(650,000)
Deferred financing costs			(21,869)	(12,242)
Repurchase of common shares			(794)	(606)
Distributions to common shareholders			(264,755)	(259,678)
Net cash provided by (used in) financing activities			2,019,461	(137,550)
Decrease in cash and cash equivalents and restricted cash			(5,494)	(12,003)
Cash and cash equivalents and restricted cash at beginning of period			76,003	97,496
Cash and cash equivalents and restricted cash at end of period	70,509	85,493	70,509	85,493
Supplemental disclosure of cash and cash equivalents and restricted cash:
Total cash and cash equivalents and restricted cash	$ 70,509	$ 85,493	76,003	97,496
Supplemental cash flow information:
Cash paid for interest			171,418	158,056
Cash paid for income taxes			$ 2,614	$ 2,804