CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net loss	$ (100,972)	$ (345,814)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization	306,147	370,208
Net amortization of debt issuance costs, discounts and premiums as interest	15,529	15,123
Straight-line rental income	5,530	3,087
Loss on early extinguishment of debt	791	0
Loss on asset impairment, net	9,720	2,110
Unrealized gains on equity securities, net	(2,737)	(20,367)
Equity in earnings of an investee	(4,277)	(50)
Gain on sale of real estate	(44,235)	(10,934)
Other non-cash income, net	(1,635)	(1,720)
Changes in assets and liabilities:
Due from related persons	(19,949)	(919)
Other assets	4,990	16,396
Accounts payable and other liabilities	(13,096)	(9,635)
Due to related persons	(8,692)	(16,483)
Net cash provided by operating activities	147,114	1,002
Cash flows from investing activities:
Real estate acquisitions and deposits	(2,765)	(7,649)
Real estate improvements	(68,790)	(64,340)
Hotel managers’ purchases with restricted cash	(3,951)	(23,692)
Net proceeds from sale of real estate	517,956	33,772
Investment in Sonesta	(45,470)	(25,443)
Net cash provided by (used in) investing activities	396,980	(87,352)
Cash flows from financing activities:
Repayment of senior unsecured notes	(500,000)	0
Borrowings under revolving credit facility	20,000	984,027
Repayments of revolving credit facility	(925,000)	(62,451)
Deferred financing costs	(2,959)	(6,762)
Repurchase of common shares	(463)	(787)
Distributions to common shareholders	(4,953)	(4,944)
Net cash (used in) provided by financing activities	(1,413,375)	909,083
(Decrease) increase in cash and cash equivalents and restricted cash	(869,281)	822,733
Cash and cash equivalents and restricted cash at beginning of period	947,418	91,456
Cash and cash equivalents and restricted cash at end of period	$ 78,137	$ 914,189