v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Assets    
Investment in hotel properties, net $ 4,047,317 $ 4,112,387
Investment in unconsolidated joint ventures 7,494 7,357
Cash and cash equivalents 937,599 410,160
Restricted cash reserves 35,768 31,901
Hotel and other receivables, net of allowance of $96 and $170, respectively 30,024 29,643
Lease right-of-use assets 122,785 123,524
Prepaid expense and other assets 52,699 27,158
Total assets 5,233,686 4,742,130
Liabilities and Equity    
Debt, net 2,695,154 2,197,218
Accounts payable and other liabilities 156,580 141,568
Advance deposits and deferred revenue 46,400 51,029
Lease liabilities 119,262 118,189
Accrued interest 20,470 20,532
Distributions payable 30,893 30,934
Total liabilities 3,068,759 2,559,470
Commitments and Contingencies (Note 10)
Shareholders’ equity:    
Preferred shares 366,936 366,936
Common shares 1,524 1,511
Additional paid-in capital 2,982,795 2,977,616
Distributions in excess of net earnings (1,206,064) (1,178,456)
Accumulated other comprehensive income 6,738 1,919
Total shareholders’ equity 2,151,929 2,169,526
Noncontrolling interests:    
Noncontrolling interest in the Operating Partnership 5,570 5,696
Noncontrolling interest in consolidated joint ventures 7,428 7,438
Total noncontrolling interests 12,998 13,134
Total equity 2,164,927 2,182,660
Total liabilities and equity $ 5,233,686 $ 4,742,130
Common shares of beneficial interest, shares issued 152,375,872 151,085,078
Common shares of beneficial interest, par value (in dollars per share) $ 0.01 $ 0.01