CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net income (loss)	$ (33,650)	$ 225,787
Adjustments to reconcile net income (loss) to cash provided by operating activities:
Depreciation and amortization	127,926	99,365
Amortization of debt issuance costs and debt discounts and premiums as interest	3,288	2,570
Straight-line rental income	3,543	1,132
Security deposits replenished (utilized)	(62,309)	(16,368)
Loss on asset impairment	16,740	0
Unrealized (gains) and losses on equity securities, net	5,045	(20,977)
Equity in (earnings) losses of an investee	718	(404)
(Gain) loss on sale of real estate	6,911	(159,535)
Other non-cash (income) expense, net	(1,659)	(330)
Changes in assets and liabilities:
Due from related persons	196	2,895
Other assets	16,725	(8,642)
Accounts payable and other liabilities	8,686	(28,233)
Due to related persons	4,856	(53,395)
Net cash provided by operating activities	97,016	43,865
Cash flows from investing activities:
Real estate acquisitions and deposits	(7,113)	(148,011)
Real estate improvements	(31,343)	(11,738)
Hotel managers’ purchases with restricted cash	(48,969)	(46,361)
Hotel manager’s deposit of insurance proceeds into restricted cash	15,000	0
Net proceeds from sale of real estate	8,010	308,200
Investment in Sonesta	(5,199)	0
Net cash (used in) provided by investing activities	(69,614)	102,090
Cash flows from financing activities:
Borrowings under unsecured revolving credit facility	230,000	94,000
Repayments of unsecured revolving credit facility	(150,000)	(130,000)
Repurchase of common shares	(43)	0
Distributions to common shareholders	(88,863)	(87,154)
Net cash used in financing activities	(8,906)	(123,154)
Increase in cash and cash equivalents and restricted cash	18,496	22,801
Cash and cash equivalents and restricted cash at beginning of period	81,259	76,003
Cash and cash equivalents and restricted cash at end of period	99,755	98,804
Supplemental disclosure of cash and cash equivalents and restricted cash:
Total cash and cash equivalents and restricted cash	99,755	98,804
Supplemental cash flow information:
Cash paid for interest	78,994	77,745
Cash paid for income taxes	220	320
Non-cash investing activities:
Investment in Sonesta	$ 42,000	$ 0