CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income (loss)	$ (70,999)	$ 234,569
Adjustments to reconcile net income (loss) to cash provided by operating activities:
Depreciation and amortization	255,353	198,561
Amortization of debt issuance costs and debt discounts and premiums as interest	6,774	5,140
Straight-line rental income	2,669	4,322
Security deposits utilized	(100,170)	(9,179)
Loss on early extinguishment of debt	6,970	0
Loss on asset impairment	45,254	0
Unrealized (gains) and losses on equity securities, net	1,197	39,811
Equity in (earnings) losses of an investee	2,936	(534)
(Gain) loss on sale of real estate	9,764	(159,535)
Gain on insurance settlement	(62,386)	0
Deferred income taxes	15,650	0
Other non-cash (income) expense, net	(1,919)	(207)
Changes in assets and liabilities:
Due from related persons	1,070	3,389
Other assets	(69,351)	(21,158)
Accounts payable and other liabilities	7,858	(388)
Due to related persons	(1,873)	(54,893)
Net cash provided by operating activities	48,797	239,898
Cash flows from investing activities:
Real estate acquisitions and deposits	(7,090)	(175,146)
Real estate improvements	(45,858)	(37,189)
Hotel managers’ purchases with restricted cash	(95,744)	(88,150)
Hotel manager’s deposit (withdrawal) of insurance proceeds into restricted cash	15,000	(7,184)
Net proceeds from sale of real estate	63,960	308,200
Investment in Sonesta	(5,314)	0
Distributions in excess of earnings from Affiliates Insurance Company	286	0
Net cash (used in) provided by investing activities	(74,760)	531
Cash flows from financing activities:
Proceeds from issuance of senior unsecured notes, after discounts and premiums	800,000	0
Repurchase of senior unsecured notes	(355,971)	0
Borrowings under unsecured revolving credit facility	656,000	121,000
Repayments of unsecured revolving credit facility	(999,873)	(208,000)
Deferred financing costs	(15,015)	0
Repurchase of common shares	(70)	0
Distributions to common shareholders	(90,509)	(175,952)
Net cash used in financing activities	(5,438)	(262,952)
Decrease in cash and cash equivalents and restricted cash	(31,401)	(22,523)
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	$ 49,858	$ 53,480