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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2019	May 01, 2019
Document and Entity Information
Entity Registrant Name	RLJ Lodging Trust
Entity Central Index Key	0001511337
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		173,661,571
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	false

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Assets
Investment in hotel properties, net	$ 5,355,545	$ 5,378,651
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	21,952	22,279
Cash and cash equivalents	241,481	320,147
Restricted cash reserves	54,217	64,695
Hotel and other receivables, net of allowance of $353 and $598, respectively	67,605	52,115
Operating Lease, Right-of-Use Asset	149,492	0
Deferred income tax asset, net	46,114	47,395
Intangible Assets, Net (Excluding Goodwill)	5,143	52,448
Prepaid expense and other assets	58,981	67,367
Total assets	6,000,530	6,005,097
Liabilities and Equity
Debt, net	2,200,146	2,202,676
Accounts payable and other liabilities	169,398	203,833
Deferred income tax liability	2,766	2,766
Advance deposits and deferred revenue	30,133	25,411
Operating Lease, Liability	124,146	0
Accrued interest	15,124	7,913
Distributions payable	65,595	65,557
Total liabilities	2,607,308	2,508,156
Commitments and Contingencies (Note 11)
Shareholders’ equity:
Preferred shares of beneficial interest, $0.01 par value, 50,000,000 shares authorized	366,936	366,936
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 173,667,027 and 174,019,616 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively	1,737	1,740
Additional paid-in capital	3,187,285	3,195,381
Accumulated other comprehensive (loss) income	(191)	16,195
Retained Earnings	(187,092)	(150,476)
Total shareholders’ equity	3,368,675	3,429,776
Noncontrolling interest:
Noncontrolling interest in consolidated joint ventures	13,861	11,908
Noncontrolling interest in the Operating Partnership	10,686	10,827
Total noncontrolling interest	24,547	22,735
Limited Liability Company (LLC) Preferred Unit, Issuance Value	0	44,430
Total equity	3,393,222	3,496,941
Total liabilities and equity	$ 6,000,530	$ 6,005,097

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Hotel and other receivables, allowance	$ 353	$ 598
Preferred shares of beneficial interest, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred shares of beneficial interest, shares authorized	50,000,000	50,000,000
Preferred shares of beneficial interest, shares issued	0	0
Preferred shares of beneficial interest, shares outstanding	0	0
Preferred Stock, Liquidation Preference, Value	$ 328,266	$ 328,266
Common shares of beneficial interest, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares of beneficial interest, shares authorized	450,000,000	450,000,000
Common shares of beneficial interest, shares issued	173,667,027	174,019,616
Common shares of beneficial interest, shares outstanding	173,667,027	174,019,616
Limited Liability Company (LLC) Preferred Unit, Liquidation Value	$ 0	$ 45,544
Series A Cumulative Preferred Stock [Member]
Preferred shares of beneficial interest, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred shares of beneficial interest, shares authorized	12,950,000	12,950,000
Preferred shares of beneficial interest, shares issued	12,879,475	12,879,475
Preferred shares of beneficial interest, shares outstanding	12,879,475	12,879,475

Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues
Total revenues	$ 399,267	$ 429,593
Expenses
Management and franchise fee expense	34,118	35,676
Depreciation and amortization	58,403	61,408
Property tax, insurance and other	30,597	34,499
General and administrative	11,160	10,913
Transaction costs	559	1,672
Total operating expenses	350,352	381,523
Other income	274	1,093
Interest income	1,171	1,230
Interest expense	(20,062)	(28,701)
Gain (loss) on sale of hotel properties, net	0	(3,734)
Gain (Loss) on Extinguishment of Debt	0	7,659
Income before equity in loss from unconsolidated joint ventures	30,298	25,617
Income (Loss) from Equity Method Investments	(381)	(381)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	29,917	25,236
Income tax expense	(1,586)	(1,342)
Net income	28,331	23,894
Net loss (income) attributable to noncontrolling interests:
Noncontrolling interest in consolidated joint ventures	353	234
Noncontrolling interest in the Operating Partnership	(92)	(73)
Preferred distributions - consolidated joint venture	(186)	(366)
Redemption of preferred equity - consolidated joint venture	(1,153)	0
Net Income (Loss) Attributable to Parent	27,253	23,689
Preferred dividends	(6,279)	(6,279)
Net income attributable to common shareholders	$ 20,974	$ 17,410
Basic per common share data:
Net income per share attributable to common shareholders - basic (in dollars per share)	$ 0.12	$ 0.10
Weighted-average number of common shares - basic (in shares)	172,796,998	174,193,671
Diluted per common share data:
Net income per share attributable to common shareholders - diluted (in dollars per share)	$ 0.12	$ 0.10
Weighted-average number of common shares - diluted (in shares)	172,856,230	174,268,815
Comprehensive income:
Unrealized (loss) gain on interest rate derivatives	$ (14,136)	$ 17,857
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(2,250)	0
Comprehensive income	11,945	41,751
Noncontrolling interest in consolidated joint ventures	353	234
Noncontrolling interest in the Operating Partnership	(92)	(73)
Comprehensive income attributable to RLJ	10,867	41,546
Occupancy [Member]
Revenues
Revenue from Contract with Customer, Excluding Assessed Tax	337,670	357,645
Expenses
Cost of Goods and Services Sold	84,188	89,969
Food and Beverage [Member]
Revenues
Revenue from Contract with Customer, Excluding Assessed Tax	44,246	52,195
Expenses
Cost of Goods and Services Sold	34,209	41,263
Hotel, Other [Member]
Revenues
Revenue from Contract with Customer, Excluding Assessed Tax	17,351	19,753
Expenses
Cost of Goods and Services Sold	97,118	106,123
Hotel [Member]
Expenses
Cost of Goods and Services Sold	249,633	273,031
AOCI Attributable to Parent [Member]
Comprehensive income:
Unrealized (loss) gain on interest rate derivatives	(14,136)	$ 17,857
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ (2,250)

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Series A Cumulative Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in-Capital	Retained Earnings (Distributions in excess of net earnings)	Accumulated Other Comprehensive Income	Operating Partnership	Consolidated Joint Venture	Preferred Capital in Consolidated Joint Venture [Member]
Balance (in shares) at Dec. 31, 2017		12,879,475	174,869,046
Balance at Dec. 31, 2017	$ 3,570,278	$ 366,936	$ 1,749	$ 3,208,002	$ (82,566)	$ 8,846	$ 11,181	$ 11,700	$ 44,430
Increase (Decrease) in Owners' Equity
Net income (loss)	23,894				23,689		73	(234)	366
Unrealized loss on interest rate derivatives	17,857					17,857
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	0
Contributions from a noncontrolling interest	74							74
Issuance of restricted stock (in shares)			360,416
Issuance of restricted stock	0		$ 4	(4)
Amortization of share-based compensation	2,649			2,649
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock (in shares)			(21,031)
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock	(463)		$ (1)	(462)
Forfeiture of restricted stock (in shares)			(2,479)
Forfeiture of restricted stock	0		$ 0	0
Dividends, Preferred Stock	(6,279)				(6,279)
Distributions on common shares and units	(58,244)				(57,988)		(256)
Preferred distributions - consolidated joint venture	(366)								(366)
Balance (in shares) at Mar. 31, 2018		12,879,475	175,205,952
Balance at Mar. 31, 2018	3,549,400	$ 366,936	$ 1,752	3,210,185	(123,144)	26,703	10,998	11,540	44,430
Increase (Decrease) in Owners' Equity
Preferred Stock, Value, Issued	366,936
Balance (in shares) at Dec. 31, 2018		12,879,475	174,019,616
Balance at Dec. 31, 2018	3,496,941	$ 366,936	$ 1,740	3,195,381	(150,476)	16,195	10,827	11,908	44,430
Increase (Decrease) in Owners' Equity
Net income (loss)	28,331				27,253		92	(353)	1,339
Unrealized loss on interest rate derivatives	(14,136)					(14,136)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(2,250)					(2,250)
Redemption of Operating Partnership units	(9)						(9)
Contributions from a noncontrolling interest	2,306							2,306
Issuance of restricted stock (in shares)			271,028
Issuance of restricted stock	0		$ 3	(3)
Amortization of share-based compensation	2,828			2,828
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock (in shares)			(19,274)
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock	$ (366)		$ 0	(366)
Shares acquired as part of a share repurchase program (in shares)	(602,309)		(602,309)
Shares acquired as part of a share repurchase program	$ (10,561)		$ (6)	(10,555)
Forfeiture of restricted stock (in shares)			(2,034)
Forfeiture of restricted stock	0		$ 0	0
Dividends, Preferred Stock	(6,279)				(6,279)
Distributions on common shares and units	(57,814)				(57,590)		(224)
Preferred distributions - consolidated joint venture	(186)								(186)
Redemption of preferred equity - consolidated joint venture	(45,583)								(45,583)
Balance (in shares) at Mar. 31, 2019		12,879,475	173,667,027
Balance at Mar. 31, 2019	3,393,222	$ 366,936	$ 1,737	$ 3,187,285	$ (187,092)	$ (191)	$ 10,686	$ 13,861	$ 0
Increase (Decrease) in Owners' Equity
Preferred Stock, Value, Issued	$ 366,936

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities
Net income	$ 28,331	$ 23,894
Adjustments to reconcile net income to cash flow provided by operating activities:
Loss on sale of hotel properties, net	0	3,734
Gain (Loss) on Extinguishment of Debt	0	(7,659)
Depreciation and amortization	58,403	61,408
Amortization of deferred financing costs	792	929
Amortization of Debt Discount (Premium)	(483)	(1,391)
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	(2,250)	0
Income (Loss) from Equity Method Investments	381	381
Proceeds from Equity Method Investment, Distribution	550	250
Amortization of share-based compensation	2,725	2,514
Deferred income taxes	1,281	1,103
Changes in assets and liabilities:
Hotel and other receivables, net	(15,490)	(16,822)
Prepaid expense and other assets	77	289
Accounts payable and other liabilities	(11,206)	(22,507)
Advance deposits and deferred revenue	4,722	6,874
Accrued interest	7,211	(2,022)
Net cash flow provided by operating activities	75,044	50,975
Cash flows from investing activities
Proceeds from the sale of hotel properties, net	0	116,076
Improvements and additions to hotel properties	(43,447)	(38,583)
Additions to property and equipment	(52)	(27)
Cash Paid to Equity Method Investment, Contribution	(603)	0
Net cash flow (used in) provided by investing activities	(44,102)	77,466
Cash flows from financing activities
Borrowings under Revolver	140,000	300,000
Repayments of Senior Notes	0	(539,028)
Scheduled mortgage loan principal payments	(1,568)	(1,663)
Proceeds from (Repayments of) Secured Debt	(139,500)	0
Repurchase of common shares under a share repurchase program	(10,561)	0
Repurchase of common shares to satisfy employee tax withholding requirements	(366)	(462)
Payments of Ordinary Dividends, Preferred Stock and Preference Stock	(6,279)	(6,279)
Distributions on common shares	(57,426)	(57,707)
Distributions on Operating Partnership units	(224)	(248)
Stock Redeemed or Called During Period, Value	(9)	0
Payments of deferred financing costs	(564)	(3,515)
Payments of Distributions to Affiliates	(312)	(366)
Stock Redeemed or Called During Period, Value	(45,583)	0
Cash received from a noncontrolling interest	2,306	74
Net cash flow used in financing activities	(120,086)	(309,194)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	(89,144)	(180,753)
Cash, cash equivalents, and restricted cash reserves, beginning of year	384,842	659,076
Cash, cash equivalents, and restricted cash reserves, end of period	$ 295,698	$ 478,323

Organization	3 Months Ended
Organization	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization RLJ Lodging Trust (the "Company") was formed as a Maryland real estate investment trust ("REIT") on January 31, 2011. The Company is a self-advised and self-administered REIT that owns primarily premium-branded, high-margin, focused-service and compact full-service hotels. The Company elected to be taxed as a REIT, for U.S. federal income tax purposes, commencing with its taxable year ended December 31, 2011. Substantially all of the Company’s assets and liabilities are held by, and all of its operations are conducted through, RLJ Lodging Trust, L.P. (the "Operating Partnership"). The Company is the sole general partner of the Operating Partnership. As of March 31, 2019, there were 174,439,770 units of limited partnership interest in the Operating Partnership ("OP units") outstanding and the Company owned, through a combination of direct and indirect interests, 99.6% of the outstanding OP units. As of March 31, 2019, the Company owned 151 hotel properties with approximately 28,800 rooms, located in 25 states and the District of Columbia. The Company, through wholly-owned subsidiaries, owned a 100% interest in 147 of its hotel properties, a 98.3% controlling interest in the DoubleTree Metropolitan Hotel New York City, a 95% controlling interest in The Knickerbocker, and 50% interests in entities owning two hotel properties. The Company consolidates its real estate interests in the 149 hotel properties in which it holds a controlling financial interest, and the Company records the real estate interests in the two hotels in which it holds an indirect 50% interest using the equity method of accounting. The Company leases 150 of the 151 hotel properties to its taxable REIT subsidiaries ("TRS"), of which the Company owns a controlling financial interest.

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

The Company's Annual Report on Form 10-K for the year ended December 31, 2018 contains a discussion of the Company's significant accounting policies. Other than noted below, there have been no other significant changes to the Company's significant accounting policies since December 31, 2018.

Basis of Presentation and Principles of Consolidation

The unaudited consolidated financial statements and related notes have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America ("GAAP") and in conformity with the rules and regulations of the Securities and Exchange Commission ("SEC") applicable to financial information. The unaudited financial statements include all adjustments that are necessary, in the opinion of management, to fairly state the consolidated balance sheets, statements of operations and comprehensive income, statements of changes in equity and statements of cash flows.

The unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto as of and for the year ended December 31, 2018, included in the Company's Annual Report on Form 10-K filed with the SEC on March 1, 2019.

The consolidated financial statements include the accounts of the Company, the Operating Partnership and its wholly-owned subsidiaries, and joint ventures in which the Company has a majority voting interest and control. For the controlled subsidiaries that are not wholly-owned, the third-party ownership interest represents a noncontrolling interest, which is presented separately in the consolidated financial statements. The Company also records the real estate interests in two joint ventures in which it holds an indirect 50% interest using the equity method of accounting. All intercompany balances and transactions have been eliminated in consolidation.

Reclassifications

Certain prior year amounts in these financial statements have been reclassified to conform to the current year presentation with no impact to net income and comprehensive income, shareholders’ equity or cash flows.

Use of Estimates

The preparation of the Company’s financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of certain assets and liabilities and the amounts of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Derivative Financial Instruments

In August 2017, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. The guidance amends the hedge accounting recognition and presentation requirements in ASC 815. The guidance simplifies the application of hedge accounting and it better aligns the financial reporting for hedging activities with the entity's economic and risk management activities. All changes in the fair value of highly effective cash flow hedges will be recorded in other comprehensive income and they will be reclassified to earnings when the hedged item impacts earnings. The Company adopted this new standard on January 1, 2019. Based on the Company's assessment, the adoption of this standard did not have a material impact on the Company's consolidated financial statements.

Leases

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which provides the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The Company adopted this standard on January 1, 2019 using the modified retrospective transition approach. There are two methods of applying the modified retrospective transition approach and the Company elected to not adjust the comparative periods in the consolidated financial statements and footnotes, so the Company did not recognize a cumulative effect adjustment on the date of adoption. The comparative historical periods will be presented in accordance with ASC 840, Leases.

As a lessee in a lease contract, the Company recognizes a lease right-of-use asset and a lease liability on the consolidated balance sheet. The Company is a lessee in a variety of lease contracts, such as ground leases, parking leases, office leases and equipment leases. The Company classifies its leases as either an operating lease or a finance lease based on the principle of whether or not the lease is effectively a financed purchase of the leased asset. For operating leases, the Company recognizes lease expense on a straight-line basis over the term of the lease. For finance leases, the Company recognizes lease expense on the effective interest method, which results in the interest component of each lease payment being recognized as interest expense and the lease right-of-use asset being amortized into amortization expense using the straight-line method over the term of the lease. For leases with an initial term of 12 months or less, the Company will not recognize a lease right-of-use asset and a lease liability on the consolidated balance sheet and lease expense will be recognized on a straight-line basis over the lease term.

At the lease commencement date, the Company determines the lease term by incorporating the fixed, non-cancelable lease term plus any lease extension option terms that are reasonably certain of being exercised. The ability to extend the lease term is at the Company's sole discretion. The Company calculates the present value of the future lease payments over the lease term in order to determine the lease liability and the related lease right-of-use asset that is recognized on the consolidated balance sheet.

Certain lease contracts may include an option to purchase the leased property, which is at the Company's sole discretion. The Company's lease contracts do not contain any material residual value guarantees or material restrictive covenants.

The Company's leases include a base lease payment, which is recognized as lease expense on a straight-line basis over the lease term. In addition, certain of the Company's leases may include an additional lease payment that is based on either (i) a percentage of the respective hotel property's financial results, or (ii) the frequency to which the leased asset is used, or (iii) the lease payments are adjusted periodically for inflation; all of which are recognized as variable lease expense, when incurred, in the consolidated statements of operations and comprehensive income.

The Company will use the implicit rate in a lease contract in order to determine the present value of the future lease payments over the lease term. If the implicit rate in the lease contract is not available, then the Company will use its incremental borrowing rate at the lease commencement date. The Company determined its incremental borrowing rate for each lease contract by using the U.S. Treasury interest rates yield curve, and then making adjustments for the lease term, the Company’s credit spread, the Company’s ability to borrow on a secured basis, the quality and condition of the leased asset and the current economic environment. For purposes of adopting ASC 842, the Company used its incremental borrowing rate on January 1, 2019 for the operating leases that commenced prior to that date.

As a lessor in a lease contract, the Company classifies its leases as either an operating lease, direct financing lease, or a sales-type lease. The Company leases space at its hotel properties to third parties, who lease the space for their restaurants or retail locations. The Company classifies these lease contracts as operating leases, so the Company will continue to recognize the underlying leased asset as an investment in hotel properties on the consolidated balance sheets. Lease revenue is recognized on a straight-line basis over the lease term. Variable lease revenue is recognized over the lease term when it is earned and becomes receivable from the lessee, according to the provisions of the respective lease contract. The Company only capitalizes the incremental direct costs of leasing, so any indirect costs of leasing will be expensed as incurred.

The Company elected the following practical expedients in adopting the new standard:


•	The Company elected the package of practical expedients that allows the Company to not reassess:


(i)	whether any expired or existing contracts meet the definition of a lease;


(ii)	the lease classification for any expired or existing leases; and


(iii)	the initial direct costs for any existing leases.


•	The Company elected a practical expedient to make an accounting policy election to not recognize a right-of-use asset and a lease liability for leases with an initial term of 12 months or less.


•	The Company elected a practical expedient to allow the Company to not reassess whether an existing land easement not previously accounted for as a lease under ASC 840 would now be considered to be a lease under ASC 842.


•	The Company elected the practical expedient whereby lessors, by class of underlying asset, are not required to separate the nonlease components from the lease components, if certain conditions are met.

Upon adoption of this standard on January 1, 2019, the Company recognized lease liabilities and the related lease right-of-use assets on the consolidated balance sheet for its ground leases, parking leases, office leases and equipment leases. In addition to recognizing the lease liabilities and the related lease right-of-use assets on the date of adoption, the Company reclassified its below market ground lease intangible assets from intangible assets, net on the consolidated balance sheet to the lease right-of-use assets. In addition, the Company reclassified its above market ground lease liabilities and deferred rent liabilities from accounts payable and other liabilities on the consolidated balance sheet to the lease right-of-use assets.

The following table summarizes the impact of adopting this guidance on the consolidated balance sheet (in thousands):



	January 1, 2019
	As Previously Reported		Impact of the Adoption of ASC 842			As Adjusted
Lease right-of-use assets	$	—	$	150,803		$	150,803
Intangible assets, net	$	52,448	$	(46,772	)	$	5,676
Accounts payable and other liabilities	$	203,833	$	(20,704	)	$	183,129
Lease liabilities	$	—	$	124,735		$	124,735

There was no impact to the Company’s consolidated statement of operations and comprehensive income and the consolidated statement of cash flows. Refer to Note 11, Commitments and Contingencies, for the Company's disclosures about its lease contracts.

Recently Issued Accounting Pronouncements

In August 2018, the SEC issued SEC Final Rule 33-10532, Disclosure Update and Simplification. The amendments add certain disclosure requirements, such as requiring entities to disclose the current and comparative quarter and year-to-date changes in shareholders' equity for interim periods. The Company adopted the new disclosure requirement relating to changes in shareholders' equity for interim periods on January 1, 2019. Based on the Company's assessment, the adoption of the new disclosures did not have a material impact on the Company's consolidated financial statements.

In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement. The guidance modifies the disclosure requirements for fair value measurements by removing or modifying some of the disclosures, while also adding new disclosures. The guidance is effective for annual reporting periods beginning after December 15, 2019, and the interim periods within those annual periods, with early adoption permitted. The Company will adopt this new standard on January 1, 2020. Based on the Company's assessment, the adoption of this standard is not expected to have a material impact on the Company's consolidated financial statements.

Investment in Hotel Properties

3 Months Ended

Mar. 31, 2019

Property, Plant and Equipment [Abstract]

Investment in Hotel Properties

Investment in hotel properties consisted of the following (in thousands):



	March 31, 2019			December 31, 2018
Land and improvements	$	1,210,136		$	1,209,416
Buildings and improvements	4,717,087			4,694,490
Furniture, fixtures and equipment	825,041			813,797
	6,752,264			6,717,703
Accumulated depreciation	(1,396,719		)	(1,339,052		)
Investment in hotel properties, net	$	5,355,545		$	5,378,651

For the three months ended March 31, 2019 and 2018, the Company recognized depreciation expense related to its investment in hotel properties of approximately $57.7 million and $58.8 million, respectively.

Investment in Unconsolidated Joint Ventures (Notes)

3 Months Ended

Mar. 31, 2019

Investment in Unconsolidated Joint Ventures [Abstract]

Equity Method Investments and Joint Ventures Disclosure [Text Block]

Investment in Unconsolidated Joint Ventures

As of March 31, 2019 and December 31, 2018, the Company owned 50% interests in joint ventures that owned two hotel properties. The Company also owned 50% interests in joint ventures that owned real estate and a condominium management business that are associated with two of its resort hotel properties. The Company accounts for the investments in these unconsolidated joint ventures under the equity method of accounting. The Company makes adjustments to the equity in income (loss) from unconsolidated joint ventures related to the difference between the Company's basis in the investment in the unconsolidated joint ventures as compared to the historical basis of the assets and liabilities of the joint ventures. As of March 31, 2019 and December 31, 2018, the unconsolidated joint ventures' debt consisted entirely of non-recourse mortgage debt.

The following table summarizes the components of the Company's investments in unconsolidated joint ventures (in thousands):



	March 31, 2019		December 31, 2018
Equity basis of the joint venture investments	$	157	$	117
Cost of the joint venture investments in excess of the joint venture book value	21,795		22,162
Investment in unconsolidated joint ventures	$	21,952	$	22,279

The following table summarizes the components of the Company's equity in loss from unconsolidated joint ventures (in thousands):



	For the three months ended March 31,
	2019			2018
Unconsolidated joint ventures net loss attributable to the Company	$	(14	)	$	(14	)
Depreciation of cost in excess of book value	(367		)	(367		)
Equity in loss from unconsolidated joint ventures	$	(381	)	$	(381	)

Sale of Hotel Properties

3 Months Ended

Mar. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Disposal of Hotel Properties

Sale of Hotel Properties

During the three months ended March 31, 2019, the Company did not sell any hotel properties.

During the three months ended March 31, 2018, the Company sold two hotel properties for a total sale price of approximately $119.2 million. In connection with these transactions, the Company recorded an aggregate $3.7 million loss on sales, which is included in loss on sale of hotel properties, net in the accompanying consolidated statement of operations and comprehensive income. The loss on sale is presented net of a gain on extinguishment of indebtedness of $5.1 million associated with the two hotel properties that were sold.

The following table discloses the hotel properties that were sold during the three months ended March 31, 2018:



Hotel Property Name	Location	Sale Date	Rooms
Embassy Suites Boston Marlborough	Marlborough, MA	February 21, 2018	229
Sheraton Philadelphia Society Hill Hotel	Philadelphia, PA	March 27, 2018	364
		Total	593

Revenue (Notes)

3 Months Ended

Mar. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

Revenue

The Company recognized revenue from the following geographic markets (in thousands):



	For the three months ended March 31, 2019								For the three months ended March 31, 2018
	Room Revenue		Food and Beverage Revenue		Other Revenue		Total Revenue		Room Revenue		Food and Beverage Revenue		Other Revenue		Total Revenue
Northern California	$	50,881	$	4,956	$	1,421	$	57,258	$	54,269	$	5,360	$	1,737	$	61,366
South Florida	44,646		5,849		2,057		52,552		46,780		5,732		1,829		54,341
Southern California	29,064		3,692		2,090		34,846		30,413		4,128		1,926		36,467
Austin	24,097		2,960		951		28,008		23,674		2,497		912		27,083
New York City	22,659		2,903		963		26,525		22,640		2,786		914		26,340
Houston	16,252		964		1,170		18,386		16,580		981		929		18,490
Chicago	12,906		2,964		436		16,306		12,943		2,932		374		16,249
Denver	13,130		2,844		306		16,280		14,648		3,039		232		17,919
Washington, DC	13,367		335		550		14,252		14,809		652		523		15,984
Louisville	9,390		3,830		530		13,750		8,258		3,103		473		11,834
Other	101,278		12,949		6,877		121,104		112,631		20,985		9,904		143,520
Total	$	337,670	$	44,246	$	17,351	$	399,267	$	357,645	$	52,195	$	19,753	$	429,593

Debt

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Debt

The Company's debt consisted of the following (in thousands):



	March 31, 2019		December 31, 2018
Senior Notes	$	504,141	$	505,322
Revolver and Term Loans, net	1,309,619		1,169,165
Mortgage loans, net	386,386		528,189
Debt, net	$	2,200,146	$	2,202,676

Senior Notes

The Company's senior unsecured notes are referred to as the "Senior Notes". The Company's Senior Notes consisted of the following (in thousands):



				Outstanding Borrowings at
	Number of Assets Encumbered	Interest Rate	Maturity Date	March 31, 2019		December 31, 2018
Senior unsecured notes (1) (2) (3)	—	6.00%	June 2025	$	504,141	$	505,322


(1)	Requires payments of interest only through maturity.


(2)	The senior unsecured notes include $29.1 million and $30.3 million at March 31, 2019 and December 31, 2018, respectively, related to fair value adjustments on the senior unsecured notes that were assumed in the Mergers.


(3)	The Company has the option to redeem the senior unsecured notes beginning June 1, 2020 at a price of 103.0% of face value.

The Senior Notes are subject to customary financial covenants. As of March 31, 2019 and December 31, 2018, the Company was in compliance with all financial covenants.

Revolver and Term Loans

The Company has the following unsecured credit agreements in place:


•	$600.0 million revolving credit facility with a scheduled maturity date of April 22, 2020 with a one-year extension option if certain conditions are satisfied (the "Revolver");


•	$400.0 million term loan with a scheduled maturity date of April 22, 2021 (the "$400 Million Term Loan Maturing 2021");


•	$150.0 million term loan with a scheduled maturity date of January 22, 2022 (the "$150 Million Term Loan Maturing 2022");


•	$400.0 million term loan with a scheduled maturity date of January 25, 2023 (the "$400 Million Term Loan Maturing 2023"); and


•	$225.0 million term loan with a scheduled maturity date of January 25, 2023 (the "$225 Million Term Loan Maturing 2023").

The $400 Million Term Loan Maturing 2021, the $150 Million Term Loan Maturing 2022, the $400 Million Term Loan Maturing 2023, and the $225 Million Term Loan Maturing 2023 are collectively the "Term Loans". The Revolver and Term Loans are subject to customary financial covenants. As of March 31, 2019 and December 31, 2018, the Company was in compliance with all financial covenants.

The Company's unsecured credit agreements consisted of the following (in thousands):



			Outstanding Borrowings at
	Interest Rate at March 31, 2019 (1)	Maturity Date	March 31, 2019			December 31, 2018
Revolver (2)	3.99%	April 2020	$	140,000		$	—
$400 Million Term Loan Maturing 2021	3.11%	April 2021	400,000			400,000
$150 Million Term Loan Maturing 2022	3.08%	January 2022	150,000			150,000
$400 Million Term Loan Maturing 2023	3.78%	January 2023	400,000			400,000
$225 Million Term Loan Maturing 2023	3.78%	January 2023	225,000			225,000
			1,315,000			1,175,000
Deferred financing costs, net (3)			(5,381		)	(5,835		)
Total Revolver and Term Loans, net			$	1,309,619		$	1,169,165


(1)	Interest rate at March 31, 2019 gives effect to interest rate hedges.

(2)

At March 31, 2019 and December 31, 2018, there was $460.0 million and $600.0 million of borrowing capacity on the Revolver, respectively. The Company has the ability to further increase the borrowing capacity to $750.0 million, subject to certain lender requirements. In April 2019, the Company paid off the outstanding balance on the Revolver by using the cash proceeds that were received from entering into two new mortgage loans (discussed further below).


(3)	Excludes $1.2 million and $1.5 million as of March 31, 2019 and December 31, 2018, respectively, related to deferred financing costs on the Revolver, which are included in prepaid expense and other assets in the accompanying consolidated balance sheets.

Mortgage Loans

The Company's mortgage loans consisted of the following (in thousands):



					Outstanding Borrowings at
	Number of Assets Encumbered	Interest Rate at March 31, 2019 (1)	Maturity Date		March 31, 2019			December 31, 2018
Mortgage loan	—	—	—	(3)	$	—		$	140,250
Mortgage loan (2)	4	4.09%	October 2019	(4)	150,000			150,000
Mortgage loan (2) (5)	5	4.59%	March 2021		85,000			85,000
Mortgage loan (6)	1	5.25%	June 2022		31,850			32,066
Mortgage loan (7)	3	4.95%	October 2022		91,121			91,737
Mortgage loan (8)	1	4.94%	October 2022		29,371			29,569
	14				387,342			528,622
Deferred financing costs, net					(956		)	(433		)
Total mortgage loans, net					$	386,386		$	528,189


(1)	Interest rate at March 31, 2019 gives effect to interest rate hedges.


(2)	Requires payments of interest only through maturity.


(3)	In March 2019, the Company paid off the mortgage loan in full.


(4)	In October 2018, the Company extended the maturity date for a one-year term. In April 2019, the Company entered into a new $200.0 million mortgage loan and a new $96.0 million mortgage loan. The Company used the cash proceeds from the two new mortgage loans to pay off the $150.0 million mortgage loan in full and to pay off the $140.0 million outstanding balance on the Revolver.


(5)	The five hotels encumbered by the mortgage loan are cross-collateralized. In April 2019, the Company refinanced the $85.0 million mortgage loan for an amended interest rate of LIBOR + 1.60% and an amended maturity date of April 2026, inclusive of all extension options. The Company also replaced the five hotels that were encumbered by the mortgage loan with four other hotels.


(6)	Includes $0.6 million and $0.6 million at March 31, 2019 and December 31, 2018, respectively, related to a fair value adjustment on a mortgage loan that was assumed in conjunction with an acquisition.


(7)	Includes $1.7 million and $1.9 million at March 31, 2019 and December 31, 2018, respectively, related to fair value adjustments on the mortgage loans that were assumed in the Mergers.


(8)	Includes $0.6 million and $0.6 million at March 31, 2019 and December 31, 2018, respectively, related to a fair value adjustment on the mortgage loan that was assumed in the Mergers.

Certain mortgage agreements are subject to customary financial covenants. The Company was in compliance with all financial covenants at March 31, 2019 and December 31, 2018.

Interest Expense

The components of the Company's interest expense consisted of the following (in thousands):



	For the three months ended March 31,
	2019			2018
Senior Notes	$	5,944		$	10,587
Revolver and Term Loans	10,153			10,578
Mortgage loans	5,423			6,607
Amortization of deferred financing costs	792			929
Unrealized gain on discontinued cash flow hedges	(2,250		)	—
Total interest expense	$	20,062		$	28,701

Derivatives and Hedging

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Hedging

Derivatives and Hedging Activities

The following interest rate swaps have been designated as cash flow hedges (in thousands):



			Notional value at				Fair value at
Hedge type	Interest rate	Maturity	March 31, 2019		December 31, 2018		March 31, 2019			December 31, 2018
Swap-cash flow	2.02%	March 2019	$	—	$	125,000	$	—		$	148
Swap-cash flow	1.94%	March 2019	—		100,000		—			136
Swap-cash flow	1.27%	March 2019	—		125,000		—			447
Swap-cash flow	1.96%	March 2019	—		100,000		—			153
Swap-cash flow	1.85%	March 2019	—		50,000		—			93
Swap-cash flow	1.81%	March 2019	—		50,000		—			99
Swap-cash flow	1.74%	March 2019	—		25,000		—			54
Swap-cash flow (1)	1.80%	September 2020	—		30,855		—			370
Swap-cash flow (1)	1.80%	September 2020	—		76,670		—			919
Swap-cash flow (1)	1.80%	September 2020	—		32,725		—			392
Swap-cash flow (1)	1.81%	October 2020	—		143,000		—			1,808
Swap-cash flow	1.15%	April 2021	100,000		100,000		2,322			3,072
Swap-cash flow	1.20%	April 2021	100,000		100,000		2,215			2,955
Swap-cash flow	2.15%	April 2021	75,000		75,000		147			539
Swap-cash flow	1.91%	April 2021	75,000		75,000		534			967
Swap-cash flow	1.61%	June 2021	50,000		50,000		707			1,057
Swap-cash flow	1.56%	June 2021	50,000		50,000		772			1,129
Swap-cash flow	1.71%	June 2021	50,000		50,000		595			934
Swap-cash flow	2.29%	December 2022	200,000		200,000		(970		)	938
Swap-cash flow	2.29%	December 2022	125,000		125,000		(588		)	607
Swap-cash flow	2.38%	December 2022	200,000		200,000		(1,656		)	259
Swap-cash flow	2.38%	December 2022	100,000		100,000		(820		)	139
Swap-cash flow (2)	2.75%	November 2023	100,000		100,000		(1,920		)	(1,020		)
Swap-cash flow (3)	2.51%	December 2023	75,000		—		(891		)	—
Swap-cash flow (3)	2.39%	December 2023	75,000		—		(638		)	—
			$	1,375,000	$	2,083,250	$	(191	)	$	16,195

(1)

During the three months ended March 31, 2019, the Company discontinued accounting for these interest rate swaps as cash flow hedges because the hedged forecasted transactions were no longer probable of occurring as a result of debt paydowns in March and April 2019. Therefore, the Company reclassified approximately $2.3 million of the unrealized gains included in accumulated other comprehensive income to interest expense in the consolidated statements of operations and comprehensive income.


(2)	Effective in November 2020.


(3)	Effective in January 2021.

The following interest rate swaps have not been designated as hedging instruments (in thousands):



			Notional value at				Fair value at
Derivative type	Interest rate	Maturity	March 31, 2019		December 31, 2018		March 31, 2019		December 31, 2018
Interest rate swap (1)	1.80%	September 2020	$	30,690	$	—	$	240	$	—
Interest rate swap (1)	1.80%	September 2020	76,260		—		597		—
Interest rate swap (1)	1.80%	September 2020	32,550		—		255		—
Interest rate swap (1)	1.81%	October 2020	143,000		—		1,158		—
			$	282,500	$	—	$	2,250	$	—


(1)	During the three months ended March 31, 2019, the Company discontinued accounting for these interest rate swaps as cash flow hedges. The Company will recognize all changes in the fair value of these interest rate swaps in interest expense in the consolidated statements of operations and comprehensive income.

As of March 31, 2019 and December 31, 2018, the aggregate fair value of the interest rate swap assets of $9.5 million and $17.2 million, respectively, was included in prepaid expense and other assets in the accompanying consolidated balance sheets. As of March 31, 2019 and December 31, 2018, the aggregate fair value of the interest rate swap liabilities of $7.5 million and $1.0 million, respectively, was included in accounts payable and other liabilities in the accompanying consolidated balance sheets.

As of March 31, 2019, there was approximately $0.2 million of unrealized losses included in accumulated other comprehensive loss related to interest rate hedges that are effective in offsetting the variable cash flows. As of December 31, 2018, there was approximately $16.2 million of unrealized gains included in accumulated other comprehensive income related to interest rate hedges that are effective in offsetting the variable cash flows. There was no ineffectiveness recorded on the designated hedges during the three months ended March 31, 2018. For the three months ended March 31, 2019 and 2018, approximately $2.6 million and $0.4 million, respectively, of the amounts included in accumulated other comprehensive income (loss) were reclassified into interest expense for the interest rate swaps that have been designated as cash flow hedges. Approximately $6.4 million of the unrealized gains included in accumulated other comprehensive loss at March 31, 2019 is expected to be reclassified into interest expense within the next 12 months.

Fair Value

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value

Fair Value Measurement

Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal or most advantageous market. The fair value hierarchy has three levels of inputs, both observable and unobservable:


•	Level 1 — Inputs include quoted market prices in an active market for identical assets or liabilities.


•	Level 2 — Inputs are market data, other than Level 1, that are observable either directly or indirectly. Level 2 inputs include quoted market prices for similar assets or liabilities, quoted market prices in an inactive market, and other observable information that can be corroborated by market data.


•	Level 3 — Inputs are unobservable and corroborated by little or no market data.

Fair Value of Financial Instruments

The Company used the following market assumptions and/or estimation methods:


•	Cash and cash equivalents, restricted cash reserves, hotel and other receivables, accounts payable and other liabilities — The carrying amounts reported in the consolidated balance sheets for these financial instruments approximate fair value because of their short term maturities.

•

Debt — The Company estimated the fair value of the Senior Notes by using publicly available trading prices, market interest rates, and spreads for the Senior Notes, which are Level 2 and Level 3 inputs in the fair value hierarchy. The Company estimated the fair value of the Revolver and Term Loans by using a discounted cash flow model and incorporating various inputs and assumptions for the effective borrowing rates for debt with similar terms, which are Level 3 inputs in the fair value hierarchy. The Company estimated the fair value of the mortgage loans by using a discounted cash flow model and incorporating various inputs and assumptions for the effective borrowing rates for debt with similar terms and the loan to estimated fair value of the collateral, which are Level 3 inputs in the fair value hierarchy.

The fair value of the Company's debt was as follows (in thousands):



	March 31, 2019				December 31, 2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
Senior Notes	$	504,141	$	493,224	$	505,322	$	492,554
Revolver and Term Loans, net	1,309,619		1,315,855		1,169,165		1,175,000
Mortgage loans, net	386,386		391,342		528,189		528,404
Debt, net	$	2,200,146	$	2,200,421	$	2,202,676	$	2,195,958

Recurring Fair Value Measurements

The following table presents the Company’s fair value hierarchy for those financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2019 (in thousands):



	Fair Value at March 31, 2019
	Level 1		Level 2			Level 3		Total
Interest rate swap asset	$	—	$	9,542		$	—	$	9,542
Interest rate swap liability	—		(7,483		)	—		(7,483		)
Total	$	—	$	2,059		$	—	$	2,059

The following table presents the Company’s fair value hierarchy for those financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 (in thousands):



	Fair Value at December 31, 2018
	Level 1		Level 2			Level 3		Total
Interest rate swap asset	$	—	$	17,215		$	—	$	17,215
Interest rate swap liability	—		(1,020		)	—		(1,020		)
Total	$	—	$	16,195		$	—	$	16,195

The fair values of the derivative financial instruments are determined using widely accepted valuation techniques including a discounted cash flow analysis on the expected cash flows for each derivative. The Company determined that the significant inputs, such as interest yield curves and discount rates, used to value its derivatives fall within Level 2 of the fair value hierarchy and that the credit valuation adjustments associated with the Company’s counterparties and its own credit risk utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. As of March 31, 2019, the Company assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and determined that the credit valuation adjustments were not significant to the overall valuation of its derivatives. As a result, the Company determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company has elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the "Code"). To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including a requirement that it distribute at least 90% of its REIT taxable income, subject to certain adjustments and excluding any net capital gain, to shareholders. The Company’s intention is to adhere to the REIT qualification requirements and to maintain its qualification for taxation as a REIT. As a REIT, the Company is generally not subject to federal corporate income tax on the portion of taxable income that is distributed to shareholders. If the Company fails to qualify for taxation as a REIT in any taxable year, the Company will be subject to U.S. federal income taxes at regular corporate rates (including any applicable alternative minimum tax) and it may not be able to qualify as a REIT for four subsequent taxable years. As a REIT, the Company may be subject to certain state and local taxes on its income and property, and to federal income and excise taxes on undistributed taxable income. The Company’s TRSs will generally be subject to U.S. federal, state, and local income taxes at the applicable rates. The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases, and for net operating loss, capital loss and tax credit carryforwards. The deferred tax assets and liabilities are measured using the enacted income tax rates in effect for the year in which those temporary differences are expected to be realized or settled. The effect on the deferred tax assets and liabilities from a change in tax rates is recognized in earnings in the period when the new rate is enacted. However, deferred tax assets are recognized only to the extent that it is more likely than not that they will be realized based on consideration of all available evidence, including the future reversals of existing taxable temporary differences, future projected taxable income and tax planning strategies. Valuation allowances are provided if, based upon the weight of the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company had no accruals for tax uncertainties as of March 31, 2019 and December 31, 2018.

Commitments and Contingencies

3 Months Ended

Mar. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Leases

As of March 31, 2019, 14 of the Company's hotel properties were subject to ground leases that cover the land underlying the respective hotels. The ground leases are classified as operating leases. During the three months ended March 31, 2019, the total ground lease expense was $3.8 million, which consisted of $2.9 million of fixed lease expense and $0.9 million of variable lease expense. The ground lease expense is included in property tax, insurance and other in the accompanying consolidated statements of operations and comprehensive income.

The Residence Inn Chicago Oak Brook is subject to a ground lease with an initial term expiring in 2100. After the initial term, the Company may extend the ground lease for an additional term of 99 years. The ground lease expense was de minimis for the three months ended March 31, 2019.

The Marriott Louisville Downtown is subject to a ground lease with an initial term expiring in 2053. After the initial term, the ground lease may be extended for up to four additional 25 year terms at the Company's option. The ground lease expense was de minimis for the three months ended March 31, 2019.

The Courtyard Austin Downtown Convention Center and Residence Inn Austin Downtown Convention Center are subject to a ground lease with a term expiring in 2100. The ground lease expense was $0.2 million for the three months ended March 31, 2019.

The Hilton Garden Inn Bloomington is subject to a ground lease with an initial term expiring in 2053. After the initial term, the ground lease automatically extends for up to five additional 10 year terms unless certain conditions are met. The ground lease expense was de minimis for the three months ended March 31, 2019.

A portion of the site of the Courtyard Charleston Historic District is subject to a ground lease with a term expiring in 2096. The ground lease expense was $0.3 million for the three months ended March 31, 2019.

The Courtyard Waikiki Beach is subject to a ground lease with a term expiring in 2112. The ground lease expense was $0.9 million for the three months ended March 31, 2019.

A portion of the site of the Residence Inn Palo Alto Los Altos is subject to a ground lease with a term expiring in 2033. The ground lease expense was de minimis for the three months ended March 31, 2019.

The DoubleTree Suites by Hilton Orlando Lake Buena Vista is subject to a ground lease with an initial term expiring in 2032. After the initial term, the Company may extend the ground lease for an additional term of 25 years to 2057. The ground lease expense was $0.2 million for the three months ended March 31, 2019.

The Embassy Suites San Francisco Airport Waterfront is subject to a ground lease with a term expiring in 2059. The ground lease expense was $0.6 million for the three months ended March 31, 2019.

The Wyndham Boston Beacon Hill is subject to a ground lease with a term expiring in 2028. The ground lease expense was $0.2 million for the three months ended March 31, 2019.

The Wyndham New Orleans French Quarter is subject to a ground lease with a term expiring in 2065. The ground lease expense was $0.1 million for the three months ended March 31, 2019.

The Wyndham Pittsburgh University Center is subject to a ground lease with an initial term expiring in 2038. After the initial term, the Company may extend the ground lease for up to five additional 9 year renewal terms to 2083. The ground lease expense was $0.2 million for the three months ended March 31, 2019.

The Wyndham San Diego Bayside is subject to a ground lease with a term expiring in 2029. The ground lease expense was $1.2 million for the three months ended March 31, 2019.

Certain of the Company's hotel properties are subject to long-term contracts to lease parking spaces. The parking leases are classified as operating leases. The total parking lease expense was $0.1 million for the three months ended March 31, 2019, which is included in other operating expense in the accompanying consolidated statements of operations and comprehensive income.

The Company is subject to an office lease for its corporate headquarters in Bethesda, Maryland with a term expiring in 2026. In addition, the Company is subject to an office lease in Dallas, Texas with a term expiring in 2027. The office leases are classified as operating leases. The total office lease expense was $0.4 million for the three months ended March 31, 2019, which is included in general and administrative in the accompanying consolidated statements of operations and comprehensive income.

The Company is subject to a number of equipment leases for copiers, printers, kitchen equipment, and vehicles. The equipment leases are classified as operating leases. The total equipment lease expense was $0.3 million for the three months ended March 31, 2019, which is included in other operating expense in the accompanying consolidated statements of operations and comprehensive income.

The future lease payments for the Company's operating leases were as follows (in thousands):



	March 31, 2019		December 31, 2018
2019	$	8,386	$	11,200
2020	11,229		11,257
2021	11,823		11,840
2022	10,213		10,218
2023	10,277		10,283
Thereafter	556,988		557,647
Total future lease payments	608,916		$	612,445
Less: Imputed interest	484,770
Lease liabilities	$	124,146

The following table presents certain information related to the Company's operating leases as of March 31, 2019:



Weighted average remaining lease term	63 years
Weighted average discount rate (1)	7.06	%


(1)	Upon adoption of the new lease accounting standard, the discount rates used for the Company's operating leases were determined at January 1, 2019.

Restricted Cash Reserves

The Company is obligated to maintain cash reserve funds for future capital expenditures at the hotels (including the periodic replacement or refurbishment of furniture, fixtures and equipment (FF&E)) as determined pursuant to the management agreements, franchise agreements and/or mortgage loan documents. The management agreements, franchise agreements and/or mortgage loan documents require the Company to reserve cash ranging typically from 3.0% to 5.0% of the individual hotel’s revenues. Any unexpended amounts will remain the property of the Company upon termination of the management agreements, franchise agreements or mortgage loan documents. As of March 31, 2019 and December 31, 2018, approximately $54.2 million and $64.7 million, respectively, was available in the restricted cash reserves for future capital expenditures, real estate taxes and insurance.

Litigation

Other than the legal proceeding mentioned below, neither the Company nor any of its subsidiaries is currently involved in any regulatory or legal proceedings that management believes will have a material and adverse effect on the Company's financial position, results of operations or cash flows.

Prior to the Mergers, on March 24, 2016, an affiliate of InterContinental Hotels Group PLC ("IHG"), which was previously the hotel management company for three of FelCor's hotels (two of which were sold in 2006, and one of which was converted by FelCor into a Wyndham brand and operation in 2013), notified FelCor that the National Retirement Fund in which the employees at those hotels had participated had assessed a withdrawal liability of $8.3 million, with required quarterly payments including interest, in connection with the termination of IHG’s operation of those hotels. FelCor's management agreements with IHG stated that it may be obligated to indemnify and hold IHG harmless for some or all of any amount ultimately contributed to the pension trust fund with respect to those hotels.

Based on the current assessment of the claim, resolution of this matter may not occur until 2022. The Company plans to vigorously defend the underlying claims and, if appropriate, IHG’s demand for indemnification.

Management Agreements

As of March 31, 2019, 150 of the Company's hotel properties were operated pursuant to long-term management agreements with initial terms ranging from 3 to 25 years. This number includes 41 hotel properties that receive the benefits of a franchise agreement pursuant to management agreements with Hilton, Hyatt, Marriott, or Wyndham. Each management company receives a base management fee generally between 3.0% and 3.5% of hotel revenues. Management agreements that include the benefits of a franchise agreement incur a base management fee generally between 3.0% and 7.0% of hotel revenues. The management companies are also eligible to receive an incentive management fee if hotel operating income, as defined in the management agreements, exceeds certain thresholds. The incentive management fee is generally calculated as a percentage of hotel operating income after the Company has received a priority return on its investment in the hotel.

Management fees are included in management and franchise fee expense in the accompanying consolidated statements of operations and comprehensive income. For the three months ended March 31, 2019 and 2018, the Company incurred management fee expense, including amortization of deferred management fees, of approximately $14.1 million and $15.9 million, respectively.

The Wyndham management agreements guarantee minimum levels of annual net operating income at each of the Wyndham-managed hotels for each year of the initial 10-year term to December 31, 2022, subject to an aggregate $100.0 million limit over the term and an annual $21.5 million limit. The Company recognizes the pro-rata portion of the projected aggregate full-year guaranties as a reduction of Wyndham's contractual management and other fees.

Franchise Agreements

As of March 31, 2019, 108 of the Company’s hotel properties were operated under franchise agreements with initial terms ranging from 10 to 30 years. This number excludes 41 hotel properties that receive the benefits of a franchise agreement pursuant to management agreements with Hilton, Hyatt, Marriott, or Wyndham. In addition, one hotel is not operated with a hotel brand so it does not have a franchise agreement. Franchise agreements allow the hotel properties to operate under the respective brands. Pursuant to the franchise agreements, the Company pays a royalty fee, generally between 4.0% and 6.0% of room revenue, plus additional fees for marketing, central reservation systems and other franchisor costs generally between 1.0% and 4.3% of room revenue. Certain hotels are also charged a royalty fee of generally 3.0% of food and beverage revenues.

Franchise fees are included in management and franchise fee expense in the accompanying consolidated statements of operations and comprehensive income. For the three months ended March 31, 2019 and 2018, the Company incurred franchise fee expense of approximately $20.0 million and $19.7 million, respectively.

Equity	3 Months Ended
Equity	Mar. 31, 2019
Equity [Abstract]
Equity	Equity Common Shares of Beneficial Interest In 2015, the Company's board of trustees authorized a share repurchase program to acquire up to $400.0 million of common shares through December 31, 2016 (the "2015 Share Repurchase Program). On February 17, 2017, the Company's board of trustees increased the authorized amount that may be repurchased by $40.0 million to a total of $440.0 million. On February 16, 2018, the Company's board of trustees extended the duration of the 2015 Share Repurchase Program to February 28, 2019. During the three months ended March 31, 2018, the Company did not repurchase and retire any of its common shares. On February 15, 2019, the Company's board of trustees approved a new share repurchase program to acquire up to $250.0 million of common shares from March 1, 2019 to February 28, 2020 (the "2019 Share Repurchase Program"). During the three months ended March 31, 2019, the Company repurchased and retired 602,309 common shares for approximately $10.6 million, of which $10.4 million was repurchased under the 2015 Share Repurchase Program and $0.2 million was repurchased under the 2019 Share Repurchase Program. As of March 31, 2019, the 2019 Share Repurchase Program had a remaining capacity of $249.8 million. The Company declared a cash dividend of $0.33 per common share during each of the three months ended March 31, 2019 and 2018. Series A Preferred Shares On August 31, 2017, the Company designated and authorized the issuance of up to 12,950,000 $1.95 Series A Preferred Shares. The Company issued 12,879,475 Series A Preferred Shares at a price of $28.49 per share. The holders of the Series A Preferred Shares are entitled to receive dividends that are payable in cash in an amount equal to the greater of (i) $1.95 per annum or (ii) the cash distributions declared or paid for the corresponding period on the number of common shares into which a Series A Preferred Share is then convertible. The Company declared a cash dividend of $0.4875 on each Series A Preferred Share during each of the three months ended March 31, 2019 and 2018. Noncontrolling Interest in Consolidated Joint Ventures The Company consolidates the joint venture that owns the DoubleTree Metropolitan Hotel New York City hotel property, which has a third-party partner that owns a noncontrolling 1.7% ownership interest in the joint venture. In addition, the Company consolidates the joint venture that owns The Knickerbocker hotel property, which has a third-party partner that owns a noncontrolling 5% ownership interest in the joint venture. Lastly, the Company owns a controlling financial interest in the operating lessee of the Embassy Suites Secaucus Meadowlands hotel property, which has a third-party partner that owns a noncontrolling 49% ownership interest in the joint venture. The third-party ownership interests are included in the noncontrolling interest in consolidated joint ventures on the consolidated balance sheets. Noncontrolling Interest in the Operating Partnership The Company consolidates the Operating Partnership, which is a majority-owned limited partnership that has a noncontrolling interest. The outstanding OP Units held by the limited partners are redeemable for cash, or at the option of the Company, for a like number of common shares. As of March 31, 2019, 772,743 outstanding OP Units were held by the limited partners. The noncontrolling interest is included in the noncontrolling interest in the Operating Partnership on the consolidated balance sheets. Consolidated Joint Venture Preferred Equity The Company's joint venture that redeveloped The Knickerbocker raised $45.0 million ($44.4 million net of issuance costs) through the sale of redeemable preferred equity under the EB-5 Immigrant Investor Program. The purchasers received a 3.25% annual return, plus a 0.25% non-compounding annual return that was paid upon redemption. The preferred equity raised by the joint venture is included in preferred equity in a consolidated joint venture on the consolidated balance sheets. On February 15, 2019, the Company redeemed the preferred equity in full.

Equity Incentive Plan

3 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Equity Incentive Plan

The Company may issue share-based awards to officers, employees, non-employee trustees and other eligible persons under the RLJ Lodging Trust 2015 Equity Incentive Plan (the "2015 Plan"). The 2015 Plan provides for a maximum of 7,500,000 common shares to be issued in the form of share options, share appreciation rights, restricted share awards, unrestricted share awards, share units, dividend equivalent rights, long-term incentive units, other equity-based awards and cash bonus awards.

Share Awards

From time to time, the Company may award unvested restricted shares under the 2015 Plan as compensation to officers, employees and non-employee trustees. The issued shares vest over a period of time as determined by the board of trustees at the date of grant. The Company recognizes compensation expense for time-based unvested restricted shares on a straight-line basis over the vesting period based upon the fair market value of the shares on the date of issuance, adjusted for forfeitures.

Non-employee trustees may also elect to receive unrestricted shares under the 2015 Plan as compensation that would otherwise be paid in cash for their services. The shares issued to non-employee trustees in lieu of cash compensation are unrestricted and include no vesting conditions. The Company recognizes compensation expense for the unrestricted shares issued in lieu of cash compensation on the date of issuance based upon the fair market value of the shares on that date.

A summary of the unvested restricted shares as of March 31, 2019 is as follows:



	2019
	Number of Shares		Weighted-Average Grant Date Fair Value
Unvested at January 1, 2019	740,792		$	21.89
Granted (1)	271,028		18.97
Vested	(64,614	)	22.85
Forfeited	(2,034	)	21.78
Unvested at March 31, 2019	945,172		$	20.98


(1)	During the three months ended March 31, 2019, the Company issued restricted shares to officers that vest on an annual basis over a four-year period.

For the three months ended March 31, 2019 and 2018, the Company recognized approximately $2.1 million and $2.0 million, respectively, of share-based compensation expense related to restricted share awards. As of March 31, 2019, there was $16.8 million of total unrecognized compensation costs related to unvested restricted share awards and these costs are expected to be recognized over a weighted-average period of 2.7 years. The total fair value of the shares vested (calculated as the number of shares multiplied by the vesting date share price) during the three months ended March 31, 2019 and 2018 was approximately $1.2 million and $1.4 million, respectively.

Performance Units

In February 2018, the Company awarded 264,000 performance units with a grant date fair value of $13.99 per unit to certain employees. The performance units vest over a four-year period, including three years of performance-based vesting plus an additional one year of time-based vesting.

In February 2019, the Company awarded 260,000 performance units with a grant date fair value of $19.16 per unit to certain employees. The performance units vest over a four-year period, including three years of performance-based vesting (the "2019 performance units measurement period") plus an additional one year of time-based vesting. These performance units may convert into restricted shares at a range of 25% to 200% of the number of performance units granted contingent upon the Company achieving an absolute total shareholder return and a relative total shareholder return over the measurement period at specified percentiles of the peer group, as defined by the award. If at the end of the 2019 performance units measurement period the target criterion is met, then 50% of the restricted shares will vest immediately. The remaining 50% will vest one year later. The award recipients will not be entitled to receive any dividends prior to the date of conversion. For any restricted shares issued upon conversion, the award recipient will be entitled to receive payment of an amount equal to all dividends that would have been paid if such restricted shares had been issued at the beginning of the 2019 performance units measurement period. The fair value of the performance units is determined using a Monte Carlo simulation with the following assumptions: a risk-free interest rate of 2.52%, volatility of 27.19%, and an expected term equal to the requisite service period for the awards. The Company estimated the compensation expense for the performance units on a straight-line basis using a calculation that recognizes 50% of the grant date fair value over three years and 50% of the grant date fair value over four years.

For the three months ended March 31, 2019 and 2018, the Company recognized approximately $0.7 million and $0.5 million, respectively, of share-based compensation expense related to the performance unit awards. As of March 31, 2019, there was $7.6 million of total unrecognized compensation costs related to the performance unit awards and these costs are expected to be recognized over a weighted-average period of 2.8 years.

As of March 31, 2019, there were 2,712,162 common shares available for future grant under the 2015 Plan.

Earnings per Common Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Earnings per Common Share

Basic earnings per common share is calculated by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding during the period excluding the weighted-average number of unvested restricted shares outstanding during the period. Diluted earnings per common share is calculated by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding during the period, plus any shares that could potentially be outstanding during the period. The potential shares consist of the unvested restricted share grants and unvested performance units, calculated using the treasury stock method. Any anti-dilutive shares have been excluded from the diluted earnings per share calculation.

Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating shares and are considered in the computation of earnings per share pursuant to the two-class method. If there were any undistributed earnings allocable to the participating shares, they would be deducted from net income attributable to common shareholders used in the basic and diluted earnings per share calculations.

The limited partners’ outstanding OP Units (which may be redeemed for common shares under certain circumstances) have been excluded from the diluted earnings per share calculation as there was no effect on the amounts for the three months ended March 31, 2019 and 2018, since the limited partners’ share of income would also be added back to net income attributable to common shareholders.

The computation of basic and diluted earnings per common share is as follows (in thousands, except share and per share data):



	For the three months ended March 31,
	2019			2018
Numerator:
Net income attributable to RLJ	$	27,253		$	23,689
Less: Preferred dividends	(6,279		)	(6,279		)
Less: Dividends paid on unvested restricted shares	(312		)	(328		)
Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares	$	20,662		$	17,082

Denominator:
Weighted-average number of common shares - basic	172,796,998			174,193,671
Unvested restricted shares	59,232			75,144
Weighted-average number of common shares - diluted	172,856,230			174,268,815

Net income per share attributable to common shareholders - basic	$	0.12		$	0.10

Net income per share attributable to common shareholders - diluted	$	0.12		$	0.10

Supplemental Information to Statements of Cash Flows

3 Months Ended

Mar. 31, 2019

Supplemental Cash Flow Elements [Abstract]

Supplemental Information to Statements of Cash Flows

Supplemental Information to Statements of Cash Flows (in thousands)



	For the three months ended March 31,
	2019		2018
Reconciliation of cash, cash equivalents, and restricted cash reserves
Cash and cash equivalents	$	241,481	$	401,943
Restricted cash reserves	54,217		76,380
Cash, cash equivalents, and restricted cash reserves	$	295,698	$	478,323

Interest paid	$	15,701	$	32,257

Income taxes paid	$	43	$	1,623

Operating cash flow lease payments for operating leases	$	3,589

Supplemental investing and financing transactions
In conjunction with the sale of hotel properties, the Company recorded the following:
Sale of hotel properties	$	—	$	119,200
Transaction costs	—		(2,587		)
Operating prorations	—		(537		)
Proceeds from the sale of hotel properties, net	$	—	$	116,076

Supplemental non-cash transactions
Accrued capital expenditures	$	6,720	$	5,314

Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Basis of Presentation and Principles of Consolidation

Reclassifications

Use of Estimates

Derivatives, Policy [Policy Text Block]

Derivative Financial Instruments

Lessee, Leases [Policy Text Block]

Lessor, Leases [Policy Text Block]

The Company elected the following practical expedients in adopting the new standard:


•	The Company elected the package of practical expedients that allows the Company to not reassess:


(i)	whether any expired or existing contracts meet the definition of a lease;


(ii)	the lease classification for any expired or existing leases; and


(iii)	the initial direct costs for any existing leases.


•	The Company elected a practical expedient to make an accounting policy election to not recognize a right-of-use asset and a lease liability for leases with an initial term of 12 months or less.


•	The Company elected a practical expedient to allow the Company to not reassess whether an existing land easement not previously accounted for as a lease under ASC 840 would now be considered to be a lease under ASC 842.


•	The Company elected the practical expedient whereby lessors, by class of underlying asset, are not required to separate the nonlease components from the lease components, if certain conditions are met.

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

The following table summarizes the impact of adopting this guidance on the consolidated balance sheet (in thousands):



	January 1, 2019
	As Previously Reported		Impact of the Adoption of ASC 842			As Adjusted
Lease right-of-use assets	$	—	$	150,803		$	150,803
Intangible assets, net	$	52,448	$	(46,772	)	$	5,676
Accounts payable and other liabilities	$	203,833	$	(20,704	)	$	183,129
Lease liabilities	$	—	$	124,735		$	124,735

Share-Based Compensation

Share Awards

Recently Issued Accounting Pronouncements

Management Agreements

Franchise Agreements

Earnings Per Share

Investment in Hotel Properties (Tables)

3 Months Ended

Mar. 31, 2019

Property, Plant and Equipment [Abstract]

Schedule of investment in hotel properties

Investment in hotel properties consisted of the following (in thousands):



	March 31, 2019			December 31, 2018
Land and improvements	$	1,210,136		$	1,209,416
Buildings and improvements	4,717,087			4,694,490
Furniture, fixtures and equipment	825,041			813,797
	6,752,264			6,717,703
Accumulated depreciation	(1,396,719		)	(1,339,052		)
Investment in hotel properties, net	$	5,355,545		$	5,378,651

Investment in Unconsolidated Joint Ventures (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of components of investments in unconsolidated joint ventures [Abstract]

Schedule of Components of Investment In Unconsolidated Entities [Table Text Block]

The following table summarizes the components of the Company's investments in unconsolidated joint ventures (in thousands):



	March 31, 2019		December 31, 2018
Equity basis of the joint venture investments	$	157	$	117
Cost of the joint venture investments in excess of the joint venture book value	21,795		22,162
Investment in unconsolidated joint ventures	$	21,952	$	22,279

Schedule of Components of Equity In Income (Loss) from Unconsolidated Entities [Table Text Block]

The following table summarizes the components of the Company's equity in loss from unconsolidated joint ventures (in thousands):



	For the three months ended March 31,
	2019			2018
Unconsolidated joint ventures net loss attributable to the Company	$	(14	)	$	(14	)
Depreciation of cost in excess of book value	(367		)	(367		)
Equity in loss from unconsolidated joint ventures	$	(381	)	$	(381	)

Sale of Hotel Properties (Tables)

3 Months Ended

Mar. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Schedule of property disposed during period

The following table discloses the hotel properties that were sold during the three months ended March 31, 2018:



Hotel Property Name	Location	Sale Date	Rooms
Embassy Suites Boston Marlborough	Marlborough, MA	February 21, 2018	229
Sheraton Philadelphia Society Hill Hotel	Philadelphia, PA	March 27, 2018	364
		Total	593

Revenue (Tables)

3 Months Ended

Mar. 31, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue [Table Text Block]

The Company recognized revenue from the following geographic markets (in thousands):



	For the three months ended March 31, 2019								For the three months ended March 31, 2018
	Room Revenue		Food and Beverage Revenue		Other Revenue		Total Revenue		Room Revenue		Food and Beverage Revenue		Other Revenue		Total Revenue
Northern California	$	50,881	$	4,956	$	1,421	$	57,258	$	54,269	$	5,360	$	1,737	$	61,366
South Florida	44,646		5,849		2,057		52,552		46,780		5,732		1,829		54,341
Southern California	29,064		3,692		2,090		34,846		30,413		4,128		1,926		36,467
Austin	24,097		2,960		951		28,008		23,674		2,497		912		27,083
New York City	22,659		2,903		963		26,525		22,640		2,786		914		26,340
Houston	16,252		964		1,170		18,386		16,580		981		929		18,490
Chicago	12,906		2,964		436		16,306		12,943		2,932		374		16,249
Denver	13,130		2,844		306		16,280		14,648		3,039		232		17,919
Washington, DC	13,367		335		550		14,252		14,809		652		523		15,984
Louisville	9,390		3,830		530		13,750		8,258		3,103		473		11,834
Other	101,278		12,949		6,877		121,104		112,631		20,985		9,904		143,520
Total	$	337,670	$	44,246	$	17,351	$	399,267	$	357,645	$	52,195	$	19,753	$	429,593

Debt (Tables)

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Schedule of Debt

The Company's debt consisted of the following (in thousands):



	March 31, 2019		December 31, 2018
Senior Notes	$	504,141	$	505,322
Revolver and Term Loans, net	1,309,619		1,169,165
Mortgage loans, net	386,386		528,189
Debt, net	$	2,200,146	$	2,202,676

Schedule of Revolver and Term Loans

The Company's unsecured credit agreements consisted of the following (in thousands):



			Outstanding Borrowings at
	Interest Rate at March 31, 2019 (1)	Maturity Date	March 31, 2019			December 31, 2018
Revolver (2)	3.99%	April 2020	$	140,000		$	—
$400 Million Term Loan Maturing 2021	3.11%	April 2021	400,000			400,000
$150 Million Term Loan Maturing 2022	3.08%	January 2022	150,000			150,000
$400 Million Term Loan Maturing 2023	3.78%	January 2023	400,000			400,000
$225 Million Term Loan Maturing 2023	3.78%	January 2023	225,000			225,000
			1,315,000			1,175,000
Deferred financing costs, net (3)			(5,381		)	(5,835		)
Total Revolver and Term Loans, net			$	1,309,619		$	1,169,165


(1)	Interest rate at March 31, 2019 gives effect to interest rate hedges.

(2)


(3)	Excludes $1.2 million and $1.5 million as of March 31, 2019 and December 31, 2018, respectively, related to deferred financing costs on the Revolver, which are included in prepaid expense and other assets in the accompanying consolidated balance sheets.

Schedule of mortgage loans

The Company's mortgage loans consisted of the following (in thousands):



					Outstanding Borrowings at
	Number of Assets Encumbered	Interest Rate at March 31, 2019 (1)	Maturity Date		March 31, 2019			December 31, 2018
Mortgage loan	—	—	—	(3)	$	—		$	140,250
Mortgage loan (2)	4	4.09%	October 2019	(4)	150,000			150,000
Mortgage loan (2) (5)	5	4.59%	March 2021		85,000			85,000
Mortgage loan (6)	1	5.25%	June 2022		31,850			32,066
Mortgage loan (7)	3	4.95%	October 2022		91,121			91,737
Mortgage loan (8)	1	4.94%	October 2022		29,371			29,569
	14				387,342			528,622
Deferred financing costs, net					(956		)	(433		)
Total mortgage loans, net					$	386,386		$	528,189


(1)	Interest rate at March 31, 2019 gives effect to interest rate hedges.


(2)	Requires payments of interest only through maturity.


(3)	In March 2019, the Company paid off the mortgage loan in full.


(4)	In October 2018, the Company extended the maturity date for a one-year term. In April 2019, the Company entered into a new $200.0 million mortgage loan and a new $96.0 million mortgage loan. The Company used the cash proceeds from the two new mortgage loans to pay off the $150.0 million mortgage loan in full and to pay off the $140.0 million outstanding balance on the Revolver.


(5)	The five hotels encumbered by the mortgage loan are cross-collateralized. In April 2019, the Company refinanced the $85.0 million mortgage loan for an amended interest rate of LIBOR + 1.60% and an amended maturity date of April 2026, inclusive of all extension options. The Company also replaced the five hotels that were encumbered by the mortgage loan with four other hotels.


(6)	Includes $0.6 million and $0.6 million at March 31, 2019 and December 31, 2018, respectively, related to a fair value adjustment on a mortgage loan that was assumed in conjunction with an acquisition.


(7)	Includes $1.7 million and $1.9 million at March 31, 2019 and December 31, 2018, respectively, related to fair value adjustments on the mortgage loans that were assumed in the Mergers.


(8)	Includes $0.6 million and $0.6 million at March 31, 2019 and December 31, 2018, respectively, related to a fair value adjustment on the mortgage loan that was assumed in the Mergers.

Schedule of Interest Expense Components

The components of the Company's interest expense consisted of the following (in thousands):



	For the three months ended March 31,
	2019			2018
Senior Notes	$	5,944		$	10,587
Revolver and Term Loans	10,153			10,578
Mortgage loans	5,423			6,607
Amortization of deferred financing costs	792			929
Unrealized gain on discontinued cash flow hedges	(2,250		)	—
Total interest expense	$	20,062		$	28,701

Schedule of Senior Notes [Table Text Block]

The Company's senior unsecured notes are referred to as the "Senior Notes". The Company's Senior Notes consisted of the following (in thousands):



				Outstanding Borrowings at
	Number of Assets Encumbered	Interest Rate	Maturity Date	March 31, 2019		December 31, 2018
Senior unsecured notes (1) (2) (3)	—	6.00%	June 2025	$	504,141	$	505,322


(1)	Requires payments of interest only through maturity.


(2)	The senior unsecured notes include $29.1 million and $30.3 million at March 31, 2019 and December 31, 2018, respectively, related to fair value adjustments on the senior unsecured notes that were assumed in the Mergers.


(3)	The Company has the option to redeem the senior unsecured notes beginning June 1, 2020 at a price of 103.0% of face value.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 835
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-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
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-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Derivatives and Hedging (Tables)

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of interest rate swaps

The following interest rate swaps have been designated as cash flow hedges (in thousands):



			Notional value at				Fair value at
Hedge type	Interest rate	Maturity	March 31, 2019		December 31, 2018		March 31, 2019			December 31, 2018
Swap-cash flow	2.02%	March 2019	$	—	$	125,000	$	—		$	148
Swap-cash flow	1.94%	March 2019	—		100,000		—			136
Swap-cash flow	1.27%	March 2019	—		125,000		—			447
Swap-cash flow	1.96%	March 2019	—		100,000		—			153
Swap-cash flow	1.85%	March 2019	—		50,000		—			93
Swap-cash flow	1.81%	March 2019	—		50,000		—			99
Swap-cash flow	1.74%	March 2019	—		25,000		—			54
Swap-cash flow (1)	1.80%	September 2020	—		30,855		—			370
Swap-cash flow (1)	1.80%	September 2020	—		76,670		—			919
Swap-cash flow (1)	1.80%	September 2020	—		32,725		—			392
Swap-cash flow (1)	1.81%	October 2020	—		143,000		—			1,808
Swap-cash flow	1.15%	April 2021	100,000		100,000		2,322			3,072
Swap-cash flow	1.20%	April 2021	100,000		100,000		2,215			2,955
Swap-cash flow	2.15%	April 2021	75,000		75,000		147			539
Swap-cash flow	1.91%	April 2021	75,000		75,000		534			967
Swap-cash flow	1.61%	June 2021	50,000		50,000		707			1,057
Swap-cash flow	1.56%	June 2021	50,000		50,000		772			1,129
Swap-cash flow	1.71%	June 2021	50,000		50,000		595			934
Swap-cash flow	2.29%	December 2022	200,000		200,000		(970		)	938
Swap-cash flow	2.29%	December 2022	125,000		125,000		(588		)	607
Swap-cash flow	2.38%	December 2022	200,000		200,000		(1,656		)	259
Swap-cash flow	2.38%	December 2022	100,000		100,000		(820		)	139
Swap-cash flow (2)	2.75%	November 2023	100,000		100,000		(1,920		)	(1,020		)
Swap-cash flow (3)	2.51%	December 2023	75,000		—		(891		)	—
Swap-cash flow (3)	2.39%	December 2023	75,000		—		(638		)	—
			$	1,375,000	$	2,083,250	$	(191	)	$	16,195

(1)


(2)	Effective in November 2020.


(3)	Effective in January 2021.

Fair Value (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]

The fair value of the Company's debt was as follows (in thousands):



	March 31, 2019				December 31, 2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
Senior Notes	$	504,141	$	493,224	$	505,322	$	492,554
Revolver and Term Loans, net	1,309,619		1,315,855		1,169,165		1,175,000
Mortgage loans, net	386,386		391,342		528,189		528,404
Debt, net	$	2,200,146	$	2,200,421	$	2,202,676	$	2,195,958

Schedule of fair value hierarchy for financial assets and liabilities measured at fair value on a recurring basis

The following table presents the Company’s fair value hierarchy for those financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2019 (in thousands):



	Fair Value at March 31, 2019
	Level 1		Level 2			Level 3		Total
Interest rate swap asset	$	—	$	9,542		$	—	$	9,542
Interest rate swap liability	—		(7,483		)	—		(7,483		)
Total	$	—	$	2,059		$	—	$	2,059

The following table presents the Company’s fair value hierarchy for those financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 (in thousands):



	Fair Value at December 31, 2018
	Level 1		Level 2			Level 3		Total
Interest rate swap asset	$	—	$	17,215		$	—	$	17,215
Interest rate swap liability	—		(1,020		)	—		(1,020		)
Total	$	—	$	16,195		$	—	$	16,195

Equity Incentive Plan (Tables)

3 Months Ended

Mar. 31, 2019

Restricted share awards

Equity Incentive Plan

Summary of the unvested restricted shares

A summary of the unvested restricted shares as of March 31, 2019 is as follows:



	2019
	Number of Shares		Weighted-Average Grant Date Fair Value
Unvested at January 1, 2019	740,792		$	21.89
Granted (1)	271,028		18.97
Vested	(64,614	)	22.85
Forfeited	(2,034	)	21.78
Unvested at March 31, 2019	945,172		$	20.98


(1)	During the three months ended March 31, 2019, the Company issued restricted shares to officers that vest on an annual basis over a four-year period.

Earnings per Common Share (Tables)

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Schedule of computation of basic and diluted earnings per common share

The computation of basic and diluted earnings per common share is as follows (in thousands, except share and per share data):



	For the three months ended March 31,
	2019			2018
Numerator:
Net income attributable to RLJ	$	27,253		$	23,689
Less: Preferred dividends	(6,279		)	(6,279		)
Less: Dividends paid on unvested restricted shares	(312		)	(328		)
Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares	$	20,662		$	17,082

Denominator:
Weighted-average number of common shares - basic	172,796,998			174,193,671
Unvested restricted shares	59,232			75,144
Weighted-average number of common shares - diluted	172,856,230			174,268,815

Net income per share attributable to common shareholders - basic	$	0.12		$	0.10

Net income per share attributable to common shareholders - diluted	$	0.12		$	0.10

Supplemental Information to Statements of Cash Flows (Tables)

3 Months Ended

Mar. 31, 2019

Supplemental Cash Flow Elements [Abstract]

Schedule of supplemental information to statements of cash flows



	For the three months ended March 31,
	2019		2018
Reconciliation of cash, cash equivalents, and restricted cash reserves
Cash and cash equivalents	$	241,481	$	401,943
Restricted cash reserves	54,217		76,380
Cash, cash equivalents, and restricted cash reserves	$	295,698	$	478,323

Interest paid	$	15,701	$	32,257

Income taxes paid	$	43	$	1,623

Operating cash flow lease payments for operating leases	$	3,589

Supplemental investing and financing transactions
In conjunction with the sale of hotel properties, the Company recorded the following:
Sale of hotel properties	$	—	$	119,200
Transaction costs	—		(2,587		)
Operating prorations	—		(537		)
Proceeds from the sale of hotel properties, net	$	—	$	116,076

Supplemental non-cash transactions
Accrued capital expenditures	$	6,720	$	5,314

Organization (Details)	3 Months Ended
Organization (Details)	Mar. 31, 2019 property	Mar. 31, 2018	Mar. 31, 2019 hotel	Mar. 31, 2019 room	Mar. 31, 2019	Mar. 31, 2019 state	Mar. 31, 2019 shares	Dec. 31, 2018 property	Mar. 31, 2016 hotel
Sale of Stock
OP units outstanding (in units) \| shares							174,439,770
Company's Ownership interest in OP units through a combination of direct and indirect interests (as a percent)	99.60%
Number of Real Estate Properties	151		14						41
Equity Method Investment, Ownership Percentage					50.00%
Number of hotel rooms owned \| room				28,800
Number of states in which hotels owned by the entity are located \| state						25
Doubletree Metropolitan Hotel New York City (Joint Venture)
Sale of Stock
Hotel property ownership interest (as a percent)	98.30%
Wholly Owned Properties [Member]
Sale of Stock
Number of Real Estate Properties	147
Hotel property ownership interest (as a percent)	100.00%
Consolidated Properties [Member]
Sale of Stock
Number of Real Estate Properties	149
Unconsolidated Properties [Member]
Sale of Stock
Number of Real Estate Properties	2							2,000
Equity Method Investment, Ownership Percentage					50.00%			50.00%
Leased Hotel Properties [Member]
Sale of Stock
Number of Real Estate Properties	150
Ninety Five Percent Owned [Member] \| Partially Owned Properties [Member]
Sale of Stock
Hotel property ownership interest (as a percent)	95.00%
Fifty Percent Owned [Member] \| Partially Owned Properties [Member]
Sale of Stock
Hotel property ownership interest (as a percent)	50.00%	50.00%

Summary of Significant Accounting Policies (Details) $ in Thousands	Mar. 31, 2019 USD ($) joint_venture	Jan. 01, 2019 USD ($)	Dec. 31, 2018 USD ($)
Summary of Significant Accounting Policies
Operating Lease, Right-of-Use Asset	$ 149,492	$ 150,803	$ 0
Real Estate Interests, Number of Joint Ventures \| joint_venture	2
Noncontrolling Interest
Equity Method Investment, Ownership Percentage	50.00%
Intangible Assets, Net (Excluding Goodwill)	$ (5,143)	(5,676)	(52,448)
Accounts payable and other liabilities	(169,398)	(183,129)	(203,833)
Operating Lease, Liability	124,146	124,735	0
Accounting Standards Update 2016-02 [Member]
Summary of Significant Accounting Policies
Operating Lease, Right-of-Use Asset		150,803
Noncontrolling Interest
Intangible Assets, Net (Excluding Goodwill)		(46,772)
Accounts payable and other liabilities		(20,704)
Operating Lease, Liability		$ 124,735
Accounting Standards Update 2015-03 \| Prepaid expenses and other assets
Summary of Significant Accounting Policies
Deferred financing costs	$ 1,200		$ 1,500

Merger with FelCor Lodging Trust Incorporated (Details) $ / shares in Units, $ in Millions		3 Months Ended
	Aug. 31, 2017 $ / shares shares	Mar. 31, 2019 USD ($) room $ / shares	Dec. 31, 2018 $ / shares
Business Acquisition [Line Items]
Number of Units in Real Estate Property \| room		28,800
Common Stock, Par or Stated Value Per Share		$ 0.01	$ 0.01
Preferred Stock, Par or Stated Value Per Share		$ 0.01	0.01
Gross Proceeds from Sale of Real Estate Held-for-investment \| $		$ 119.2
Series A Cumulative Preferred Stock [Member]
Business Acquisition [Line Items]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares \| shares	12,879,475
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Share Price	$ 28.49
Preferred Stock, Par or Stated Value Per Share		$ 0.01	$ 0.01
RLJ Lodging Trust [Member] \| Series A Cumulative Preferred Stock [Member]
Business Acquisition [Line Items]
Preferred Stock, Dividend Rate, Per-Dollar-Amount	$ 1.95	$ 1.95

Investment in Hotel Properties (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jan. 01, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Buildings and improvements	$ 4,717,087			$ 4,694,490
Land and improvements	1,210,136			1,209,416
Accumulated depreciation	(1,396,719)			(1,339,052)
Furniture, fixtures and equipment	825,041			813,797
Investment in hotel properties, gross	6,752,264			6,717,703
Investment in hotel properties, net	5,355,545			5,378,651
Intangible Assets, Net (Excluding Goodwill)	5,143		$ 5,676	$ 52,448
Depreciation and amortization expense related to investment in hotel and other properties, excluding discontinued operations	(57,700)	$ (58,800)
Gross Proceeds from Sale of Real Estate Held-for-investment	$ 119,200

Investment in Unconsolidated Joint Ventures (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($) property	Mar. 31, 2018 USD ($)	Mar. 31, 2019 USD ($)	Mar. 31, 2019 hotel	Mar. 31, 2019	Dec. 31, 2018 USD ($) property	Mar. 31, 2016 hotel
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	$ (381)	$ (381)
Equity Method Investments			$ 21,952			$ 22,279
Equity Method Investment, Ownership Percentage					50.00%
Number of Real Estate Properties	151			14			41
Unconsolidated Properties [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage					50.00%	50.00%
Number of Real Estate Properties \| property	2					2,000
Equity Method Investments [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	$ (14)	(14)
Equity Method Investments			157			$ 117
Cost in Excess of Book Value of Hotel Investments [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	$ (367)	$ (367)
Equity Method Investments			$ 21,795			$ 22,162
Fifty Percent Owned [Member] \| Partially Owned Properties [Member]
Schedule of Equity Method Investments [Line Items]
Real Estate Properties, Ownership Interest, Percentage	50.00%	50.00%

Sale of Hotel Properties (Narrative) (Details)	3 Months Ended
Sale of Hotel Properties (Narrative) (Details)	Mar. 31, 2019 USD ($) hotel	Mar. 31, 2018 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale of hotel properties, net	$ 0	$ (3,734,000)
Hotel properties sold, Number \| hotel	2
Disposal of hotel properties	$ 119,200,000
Gain (Loss) on Extinguishment of Debt	0	$ 7,659,000
Disposals 2018 [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale of hotel properties, net	3,700,000
Embassy Suites Boston Marlborough & Sheraton Philadelphia Society Hill [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (Loss) on Extinguishment of Debt	$ 5,100,000

Sale of Hotel Properties (Schedule of Properties Disposed) (Details)	3 Months Ended
	Mar. 31, 2019 USD ($) room	Mar. 31, 2018 USD ($)	Mar. 27, 2018 room	Feb. 21, 2018 room
Discontinued operations
Gain (loss) on sale of hotel properties, net \| $	$ 0	$ (3,734,000)
Embassy Suites Boston Marlborough [Member]
Discontinued operations
Property disposed, number of rooms				229
Sheraton Philadelphia Society Hill Hotel [Member]
Discontinued operations
Property disposed, number of rooms			364
Disposals 2018 [Member]
Discontinued operations
Property disposed, number of rooms	593
Gain (loss) on sale of hotel properties, net \| $	$ 3,700,000

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
Revenue (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 399,267	$ 429,593
Northern California
Disaggregation of Revenue [Line Items]
Revenues	57,258	61,366
South Florida
Disaggregation of Revenue [Line Items]
Revenues	52,552	54,341
Southern California
Disaggregation of Revenue [Line Items]
Revenues	34,846	36,467
Austin, Texas
Disaggregation of Revenue [Line Items]
Revenues	28,008	27,083
New York City
Disaggregation of Revenue [Line Items]
Revenues	26,525	26,340
Houston, Texas
Disaggregation of Revenue [Line Items]
Revenues	18,386	18,490
Denver, Colorado
Disaggregation of Revenue [Line Items]
Revenues	16,280	17,919
Chicago, Illinois
Disaggregation of Revenue [Line Items]
Revenues	16,306	16,249
Washington, D.C.
Disaggregation of Revenue [Line Items]
Revenues	14,252	15,984
Louisville, Kentucky
Disaggregation of Revenue [Line Items]
Revenues	13,750	11,834
Other Markets
Disaggregation of Revenue [Line Items]
Revenues	121,104	143,520
Occupancy [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	337,670	357,645
Occupancy [Member] \| Northern California
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	50,881	54,269
Occupancy [Member] \| South Florida
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	44,646	46,780
Occupancy [Member] \| Southern California
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	29,064	30,413
Occupancy [Member] \| Austin, Texas
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	24,097	23,674
Occupancy [Member] \| New York City
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	22,659	22,640
Occupancy [Member] \| Houston, Texas
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	16,252	16,580
Occupancy [Member] \| Denver, Colorado
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	13,130	14,648
Occupancy [Member] \| Chicago, Illinois
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	12,906	12,943
Occupancy [Member] \| Washington, D.C.
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	13,367	14,809
Occupancy [Member] \| Louisville, Kentucky
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	9,390	8,258
Occupancy [Member] \| Other Markets
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	101,278	112,631
Food and Beverage [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	44,246	52,195
Food and Beverage [Member] \| Northern California
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	4,956	5,360
Food and Beverage [Member] \| South Florida
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	5,849	5,732
Food and Beverage [Member] \| Southern California
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	3,692	4,128
Food and Beverage [Member] \| Austin, Texas
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,960	2,497
Food and Beverage [Member] \| New York City
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,903	2,786
Food and Beverage [Member] \| Houston, Texas
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	964	981
Food and Beverage [Member] \| Denver, Colorado
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,844	3,039
Food and Beverage [Member] \| Chicago, Illinois
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,964	2,932
Food and Beverage [Member] \| Washington, D.C.
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	335	652
Food and Beverage [Member] \| Louisville, Kentucky
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	3,830	3,103
Food and Beverage [Member] \| Other Markets
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	12,949	20,985
Hotel, Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	17,351	19,753
Hotel, Other [Member] \| Northern California
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,421	1,737
Hotel, Other [Member] \| South Florida
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,057	1,829
Hotel, Other [Member] \| Southern California
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,090	1,926
Hotel, Other [Member] \| Austin, Texas
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	951	912
Hotel, Other [Member] \| New York City
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	963	914
Hotel, Other [Member] \| Houston, Texas
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,170	929
Hotel, Other [Member] \| Denver, Colorado
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	306	232
Hotel, Other [Member] \| Chicago, Illinois
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	436	374
Hotel, Other [Member] \| Washington, D.C.
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	550	523
Hotel, Other [Member] \| Louisville, Kentucky
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	530	473
Hotel, Other [Member] \| Other Markets
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 6,877	$ 9,904

Debt (Senior Notes, Term Loans, and Revolver) (Details)	3 Months Ended
Debt (Senior Notes, Term Loans, and Revolver) (Details)	Mar. 31, 2019 USD ($) asset	Mar. 31, 2018 USD ($)	Apr. 30, 2019 USD ($)	Dec. 31, 2018 USD ($)
Debt
Repayments of Senior Notes	$ 0	$ 539,028,000
Gain (Loss) on Extinguishment of Debt	0	$ 7,659,000
Debt, net	2,200,146,000			$ 2,202,676,000
Unsecured Debt, Gross	1,315,000,000			1,175,000,000
Unamortized debt issuance costs on term loans	$ (5,381,000)			(5,835,000)
Secured Debt [Member]
Debt
Number of Assets Encumbered \| asset	14
Secured Debt	$ 386,386,000			528,189,000
Unsecured Debt [Member]
Debt
Unsecured Debt	$ 1,309,619,000			1,169,165,000
Six Point Zero Zero Percent Due June 2025 [Member] \| Unsecured Debt [Member]
Debt
Number of Assets Encumbered \| asset	0
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Long-term Debt, Gross	$ 504,141,000			505,322,000
Senior Unsecured Notes [Member]
Debt
Debt Instrument, Redemption Price, Percentage	103.00%
Senior Unsecured Notes [Member] \| Unsecured Debt [Member]
Debt
Debt Instrument, Fair Value Adjustment, Net	$ 29,100,000			30,300,000
The Revolver \| Line of Credit
Debt
Maximum borrowing capacity	$ 600,000,000
Additional maturity term	1 year
Unsecured Debt				0
Interest Rate	3.99%
Remaining borrowing capacity	$ 460,000,000			600,000,000
Line of credit, future borrowing capacity if extended	750,000,000
$400 Million Term Loan Maturing 2019 \| Unsecured Debt [Member]
Debt
Maximum borrowing capacity	400,000,000
Unsecured Debt	$ 400,000,000			400,000,000
Interest Rate	3.78%
$225 Million Term Loan Maturing 2019 \| Unsecured Debt [Member]
Debt
Maximum borrowing capacity	$ 225,000,000
Unsecured Debt	$ 225,000,000			225,000,000
Interest Rate	3.78%
$400 Million Term Loan Maturing 2021 \| Unsecured Debt [Member]
Debt
Maximum borrowing capacity	$ 400,000,000
Unsecured Debt	$ 400,000,000			400,000,000
Interest Rate	3.11%
$150 Million Term Loan Maturing 2022 \| Unsecured Debt [Member]
Debt
Maximum borrowing capacity	$ 150,000,000.0
Unsecured Debt	$ 150,000,000			150,000,000
Interest Rate	3.08%
Embassy Suites Boston Marlborough & Sheraton Philadelphia Society Hill [Member]
Debt
Gain (Loss) on Extinguishment of Debt	$ 5,100,000
Prepaid expenses and other assets \| Accounting Standards Update 2015-03
Debt
Deferred financing costs	$ 1,200,000			$ 1,500,000
Subsequent Event [Member]
Debt
Number of Mortgage Loans			2
Subsequent Event [Member] \| The Revolver \| Line of Credit
Debt
Unsecured Debt			$ 140,000,000

Debt (Mortgage Loans) (Details) $ in Thousands	1 Months Ended	3 Months Ended
Debt (Mortgage Loans) (Details) $ in Thousands	Apr. 30, 2019 USD ($) hotel	Mar. 31, 2019 USD ($) hotel asset	Dec. 31, 2018 USD ($)
Debt
Mortgage loans, gross		$ 387,342	$ 528,622
Unamortized debt issuance costs on mortgage loans		$ (956)	(433)
Secured Debt [Member]
Debt
Number of Assets Encumbered \| asset		14
Mortgage loans, net		$ 386,386	528,189
Secured Debt [Member] \| Four Point Nine Four Percent Due October 2022 [Member]
Debt
Debt Instrument, Fair Value Adjustment, Net		$ 600	600
Secured Debt [Member] \| Wells Fargo Lender 2 [Member]
Debt
Number of Assets Encumbered \| asset		4
Interest Rate		4.09%
Mortgage loans, net		$ 150,000	150,000
Additional maturity term		1 year
Secured Debt [Member] \| Wells Fargo 1
Debt
Number of Assets Encumbered \| asset		0
Interest Rate		0.00%
Mortgage loans, net		$ 0	140,250
Secured Debt [Member] \| PNC Bank
Debt
Number of Assets Encumbered \| asset		5
Interest Rate		4.59%
Mortgage loans, net		$ 85,000	85,000
Number of hotels encumbered by loans that are cross-collateralized \| hotel		5
Secured Debt [Member] \| Wells Fargo 3
Debt
Number of Assets Encumbered \| asset		1
Interest Rate		5.25%
Mortgage loans, net		$ 31,850	32,066
Debt Instrument, Fair Value Adjustment, Net		600	600
Secured Debt [Member] \| Four Point Nine Five Percent Due October 2022 [Member]
Debt
Debt Instrument, Fair Value Adjustment, Net		$ 1,700	1,900
Four Point Nine Five Percent Due October 2022 [Member] \| Secured Debt [Member]
Debt
Number of Assets Encumbered \| asset		3
Mortgage loans, net		$ 91,121	91,737
Debt Instrument, Interest Rate, Stated Percentage		4.95%
The Revolver \| Line of Credit
Debt
Interest Rate		3.99%
Unsecured Debt			0
Additional maturity term		1 year
Remaining borrowing capacity		$ 460,000	600,000
Four Point Nine Four Percent Due October 2022 [Member] \| Secured Debt [Member]
Debt
Number of Assets Encumbered \| asset		1
Mortgage loans, net		$ 29,371	$ 29,569
Debt Instrument, Interest Rate, Stated Percentage		4.94%
Subsequent Event [Member]
Debt
Number of Mortgage Loans	2
Subsequent Event [Member] \| Secured Debt [Member] \| Wells Fargo Lender 2 [Member]
Debt
Mortgage loans, net	$ 150,000
Subsequent Event [Member] \| Secured Debt [Member] \| PNC Bank
Debt
Number of hotels encumbered by loans that are cross-collateralized \| hotel	5
Subsequent Event [Member] \| The Revolver \| Line of Credit
Debt
Unsecured Debt	$ 140,000
Subsequent Event [Member] \| Libor Plus One Point Five Two Percent due April 2024 [Member] \| Secured Debt [Member]
Debt
Mortgage loans, net	200,000
Subsequent Event [Member] \| Libor Plus One Point Six Zero Percent due April 2026 [Member]
Debt
Mortgage loans, net	$ 85,000
Number of hotels encumbered by loans that are cross-collateralized \| hotel	4
Debt Instrument, Description of Variable Rate Basis	LIBOR
Debt Instrument, Basis Spread on Variable Rate	1.60%
Subsequent Event [Member] \| Libor Plus One Point Six Zero Percent due April 2026 [Member] \| Secured Debt [Member]
Debt
Mortgage loans, net	$ 96,000

Debt (Components of Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Debt
Amortization of deferred financing costs	$ 792	$ 929
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	(2,250)	0
Total Interest Expense	20,062	28,701
Senior Notes [Member]
Debt
Interest expense	5,944	10,587
Secured Debt [Member]
Debt
Interest expense	5,423	6,607
Revolver and Term Loans
Debt
Interest expense	10,153	10,578
AOCI Attributable to Parent [Member]
Debt
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	$ (2,250)	$ 0

Derivatives and Hedging (Details) - USD ($)	3 Months Ended
Derivatives and Hedging (Details) - USD ($)	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Derivatives and Hedging
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	$ 2,250,000	$ 0
Interest Rate Derivatives
Notional value	1,375,000,000		$ 2,083,250,000
Unrealized gains (losses) included in accumulated other comprehensive loss	(200,000)		16,200,000
Amount of hedge ineffectiveness	0	0
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(2,250,000)	0
Net unrealized gains in accumulated other comprehensive income expected to be reclassified into interest expense within the next 12 months	6,400,000
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net	(191,000)		(16,195,000)
Designated as Hedging Instrument [Member] \| Swap-cash flow, hedge type ten
Derivatives and Hedging
Interest rate swap asset	0
Interest rate swap liability			148,000
Interest Rate Derivatives
Notional value	$ 0		125,000,000
Interest rate	2.018%
Designated as Hedging Instrument [Member] \| Swap-cash flow, hedge type eleven
Derivatives and Hedging
Interest rate swap asset	$ 0
Interest rate swap liability			136,000
Interest Rate Derivatives
Notional value	$ 0		100,000,000
Interest rate	1.944%
Designated as Hedging Instrument [Member] \| Swap-cash flow, hedge type twelve
Derivatives and Hedging
Interest rate swap asset	$ 0		(447,000)
Interest Rate Derivatives
Notional value	$ 0		125,000,000
Interest rate	1.2715%
Designated as Hedging Instrument [Member] \| Swap-cash flow, hedge type thirteen
Derivatives and Hedging
Interest rate swap asset	$ 0
Interest rate swap liability			153,000
Interest Rate Derivatives
Notional value	$ 0		100,000,000
Interest rate	1.9615%
Designated as Hedging Instrument [Member] \| Swap-cash flow, hedge type fourteen
Derivatives and Hedging
Interest rate swap asset	$ 0
Interest rate swap liability			93,000
Interest Rate Derivatives
Notional value	$ 0		50,000,000
Interest rate	1.85%
Designated as Hedging Instrument [Member] \| Swap-cash flow, hedge type fifteen
Derivatives and Hedging
Interest rate swap asset	$ 0
Interest rate swap liability			99,000
Interest Rate Derivatives
Notional value	$ 0		50,000,000
Interest rate	1.8115%
Designated as Hedging Instrument [Member] \| Swap-cash flow, hedge type sixteen
Derivatives and Hedging
Interest rate swap asset	$ 0		(54,000)
Interest Rate Derivatives
Notional value	$ 0		25,000,000
Interest rate	1.7445%
Designated as Hedging Instrument [Member] \| Swap-cash flow, hedge type seventeen
Derivatives and Hedging
Interest rate swap asset	$ 0		(370,000)
Interest Rate Derivatives
Notional value	$ 0		30,855,000
Interest rate	1.80%
Designated as Hedging Instrument [Member] \| Swap-cash flow, hedge type eighteen
Derivatives and Hedging
Interest rate swap asset	$ 0		(919,000)
Interest Rate Derivatives
Notional value	$ 0		76,670,000
Interest rate	1.80%
Designated as Hedging Instrument [Member] \| Swap-cash flow, hedge type nineteen
Derivatives and Hedging
Interest rate swap asset	$ 0		(392,000)
Interest Rate Derivatives
Notional value	$ 0		32,725,000
Interest rate	1.80%
Designated as Hedging Instrument [Member] \| Swap-cash flow, hedge type twenty
Derivatives and Hedging
Interest rate swap asset	$ 0		(1,808,000)
Interest Rate Derivatives
Notional value	$ 0		143,000,000
Interest rate	1.80816%
Designated as Hedging Instrument [Member] \| Swap-cash flow, hedge type twenty one
Derivatives and Hedging
Interest rate swap asset	$ (707,000)		(1,057,000)
Interest Rate Derivatives
Notional value	$ 50,000,000		50,000,000
Interest rate	1.6125%
Designated as Hedging Instrument [Member] \| Swap-cash flow, hedge type twenty two
Derivatives and Hedging
Interest rate swap asset	$ (772,000)		(1,129,000)
Interest Rate Derivatives
Notional value	$ 50,000,000		50,000,000
Interest rate	1.5555%
Designated as Hedging Instrument [Member] \| Swap-cash flow, hedge type twenty three
Derivatives and Hedging
Interest rate swap asset	$ (595,000)		(934,000)
Interest Rate Derivatives
Notional value	$ 50,000,000		50,000,000
Interest rate	1.7095%
Designated as Hedging Instrument [Member] \| Swap-cash flow, hedge type twenty four
Derivatives and Hedging
Interest rate swap asset	$ (2,322,000)		(3,072,000)
Interest Rate Derivatives
Notional value	$ 100,000,000		100,000,000
Interest rate	1.15%
Designated as Hedging Instrument [Member] \| Swap-cash flow, hedge type twenty five
Derivatives and Hedging
Interest rate swap asset	$ (2,215,000)		(2,955,000)
Interest Rate Derivatives
Notional value	$ 100,000,000		100,000,000
Interest rate	1.20%
Designated as Hedging Instrument [Member] \| Swap-cash flow, hedge type twenty six
Derivatives and Hedging
Interest rate swap asset	$ (147,000)
Interest rate swap liability			539,000
Interest Rate Derivatives
Notional value	$ 75,000,000		75,000,000
Interest rate	2.15%
Designated as Hedging Instrument [Member] \| Swap-cash flow, hedge type twenty seven
Derivatives and Hedging
Interest rate swap asset	$ (534,000)		(967,000)
Interest Rate Derivatives
Notional value	$ 75,000,000		75,000,000
Interest rate	1.91%
Designated as Hedging Instrument [Member] \| Interest Rate, Swap Hedge, Type Twenty Eight [Member]
Derivatives and Hedging
Interest rate swap asset	$ (970,000)
Interest rate swap liability			938,000
Interest Rate Derivatives
Notional value	$ 200,000,000		200,000,000
Interest rate	2.29%
Designated as Hedging Instrument [Member] \| Interest Rate, Swap Hedge, Type Twenty Nine [Member]
Derivatives and Hedging
Interest rate swap asset	$ (588,000)
Interest rate swap liability			607,000
Interest Rate Derivatives
Notional value	$ 125,000,000		125,000,000
Interest rate	2.29%
Designated as Hedging Instrument [Member] \| Interest Rate, Swap Hedge, Type Thirty [Member]
Derivatives and Hedging
Interest rate swap asset	$ (1,656,000)		(259,000)
Interest Rate Derivatives
Notional value	$ 200,000,000		200,000,000
Interest rate	2.38%
Designated as Hedging Instrument [Member] \| Interest Rate, Swap Hedge, Type Thirty One [Member]
Derivatives and Hedging
Interest rate swap asset	$ (820,000)		(139,000)
Interest Rate Derivatives
Notional value	$ 100,000,000		100,000,000
Interest rate	2.38%
Designated as Hedging Instrument [Member] \| Interest Rate, Swap Hedge, Type Thirty Two [Member]
Derivatives and Hedging
Interest rate swap asset	$ (1,920,000)		(1,020,000)
Interest Rate Derivatives
Notional value	$ 100,000,000		100,000,000
Interest rate	2.75%
Designated as Hedging Instrument [Member] \| Interest Rate, Swap Hedge, Type Thirty Three [Member]
Derivatives and Hedging
Interest rate swap asset	$ (891,000)		0
Interest Rate Derivatives
Notional value	$ 75,000,000		0
Interest rate	2.51%
Designated as Hedging Instrument [Member] \| Interest Rate, Swap Hedge, Type Thirty Four [Member]
Derivatives and Hedging
Interest rate swap asset	$ (638,000)		0
Interest Rate Derivatives
Notional value	$ 75,000,000		0
Interest rate	2.39%
Designated as Hedging Instrument
Interest Rate Derivatives
Notional value	$ 282,500,000		0
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net	(2,250,000)		0
Designated as Hedging Instrument \| Interest Rate, Swap Hedge, Type One [Member]
Derivatives and Hedging
Interest rate swap asset	(240,000)		0
Interest Rate Derivatives
Notional value	$ 30,690,000		0
Interest rate	1.80%
Designated as Hedging Instrument \| Swap-cash flow, hedge type two
Derivatives and Hedging
Interest rate swap asset	$ (597,000)		0
Interest Rate Derivatives
Notional value	$ 76,260,000		0
Interest rate	1.80%
Designated as Hedging Instrument \| Swap-cash flow, hedge type three
Derivatives and Hedging
Interest rate swap asset	$ (255,000)		0
Interest Rate Derivatives
Notional value	$ 32,550,000		0
Interest rate	1.80%
Designated as Hedging Instrument \| Swap-cash flow, hedge type four
Derivatives and Hedging
Interest rate swap asset	$ (1,158,000)		0
Interest Rate Derivatives
Notional value	$ 143,000,000		0
Interest rate	1.81%
Interest Expense
Derivatives and Hedging
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	$ 2,300,000
Interest Rate Derivatives
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	2,600,000	$ (400,000)
Accounts payable and other liabilities \| Interest rate swap
Derivatives and Hedging
Interest rate swap liability	7,500,000		1,000,000
Prepaid expenses and other assets \| Interest rate swap
Derivatives and Hedging
Interest rate swap asset	$ (9,500,000)		$ (17,200,000)

Fair Value (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net	$ 191,000	$ 16,195,000
Debt, net	2,200,146,000	2,202,676,000
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Fair Value	2,200,421,000	2,195,958,000
Recurring \| Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Interest rate swap asset	9,542,000	17,215,000
Interest rate swap liability	(7,483,000)	(1,020,000)
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net	2,059,000	16,195,000
Recurring \| Level 1 \| Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Interest rate swap asset	0	0
Interest rate swap liability	0	0
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net	0	0
Recurring \| Level 2 \| Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Interest rate swap asset	9,542,000	17,215,000
Interest rate swap liability	(7,483,000)	(1,020,000)
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net	2,059,000	16,195,000
Recurring \| Level 3 \| Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Interest rate swap asset	0	0
Interest rate swap liability	0	0
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net	0	0
Mortgages [Member] \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Fair Value	391,342,000	528,404,000
Senior Notes [Member] \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Fair Value	493,223,921	492,554,000
Unsecured Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Unsecured Debt	1,309,619,000	1,169,165,000
Unsecured Debt [Member] \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Fair Value	$ 1,315,855,000	$ 1,175,000,000

Income Taxes (Details) - USD ($)	3 Months Ended
Income Taxes (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Minimum percent of adjusted taxable income to be distributed to shareholders to qualify as a REIT	90.00%
Accruals for tax uncertainties	$ 0	$ 0

Commitments and Contingencies (Details)	3 Months Ended		12 Months Ended
Commitments and Contingencies (Details)	Mar. 31, 2019 USD ($)	Mar. 31, 2016 USD ($) hotel	Dec. 31, 2018 USD ($)	Mar. 31, 2019 property	Mar. 31, 2019 USD ($)	Mar. 31, 2019 hotel	Mar. 31, 2019	Jan. 01, 2019 USD ($)	Mar. 31, 2018 USD ($)
Loss Contingencies [Line Items]
Operating Leases, Future Minimum Payments, Remainder of Fiscal Year			$ 11,200,000		$ 8,386,000
Operating Lease, Weighted Average Remaining Lease Term	63 years
Number of Real Estate Properties		41		151		14
Wyndham NOI Guarantee over life of management agreement	$ 100,000,000.0
Pension Trust Litigation - Loss Contingency, Damages Sought		$ 8,300,000
Wyndham NOI Guarantee annual limit	21,500,000
Operating Leases, Rent Expense, Net	3,800,000
Operating Leases, Rent Expense, Minimum Rentals	2,900,000
Operating Leases, Rent Expense, Contingent Rentals	$ 900,000
Operating Lease, Weighted Average Discount Rate, Percent							7.06%
Operating Leases, Future Minimum Payments, Due in Two Years			11,257,000		11,229,000
Operating Leases, Future Minimum Payments, Due in Three Years			11,840,000		11,823,000
Operating Leases, Future Minimum Payments, Due in Four Years			10,218,000		10,213,000
Operating Leases, Future Minimum Payments, Due in Five Years			10,283,000		10,277,000
Operating Leases, Future Minimum Payments, Due Thereafter			557,647,000		556,988,000
Operating Leases, Future Minimum Payments Due			612,445,000		608,916,000
Lessee, Operating Lease, Liability, Undiscounted Excess Amount					484,770,000
Operating Lease, Liability			0		124,146,000			$ 124,735,000
Minimum restricted cash reserve escrows to be maintained as a percentage of the hotel's revenue	3.00%
Maximum restricted cash reserve escrows to be maintained as percentage of hotel's revenue	5.00%
Restricted cash reserves for future capital expenditures, real estate taxes and insurance			$ 64,695,000		$ 54,217,000				$ 76,380,000
Residence Inn Chicago Oak Brook [Member]
Loss Contingencies [Line Items]
Ground Leases, Period of Each Additional Renewal Term			99 years
Marriott Louisville Downtown [Member]
Loss Contingencies [Line Items]
Lessee, Number of Renewal Options	4
Lessee, Operating Lease, Renewal Term	25 years
Courtyard Charleston Historic District [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	$ 300,000
Courtyard Austin Downtown Convention Center and Residence Inn Austin Downtown Convention Center [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	$ 200,000
Hilton Garden Inn Bloomington [Member]
Loss Contingencies [Line Items]
Lessee, Number of Renewal Options	5
Lessee, Operating Lease, Renewal Term	10 years
Courtyard Waikiki Beach [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	$ 900,000
DoubleTree Suites by Hilton Orlando - Lake Buena Vista [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	$ 200,000
Lessee, Operating Lease, Renewal Term	25 years
Embassy Suites San Francisco Airport Waterfront [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	$ 600,000
Wyndham Boston Beacon Hill [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	200,000
Wyndham New Orleans French Quarter [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	100,000
Wyndham Pittsburgh University Center [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	$ 200,000
Lessee, Number of Renewal Options	5
Lessee, Operating Lease, Renewal Term	9 years
Wyndham San Diego Bayside [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	$ 1,200,000
Dallas & Bethesda Offices [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	400,000
Equipment [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	300,000
812930 Parking Lots and Garages [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	$ 100,000
Wyndham Hotel Group [Member]
Loss Contingencies [Line Items]
Number of Real Estate Properties \| hotel		1
InterContinental Hotels Group PLC [Member]
Loss Contingencies [Line Items]
Number of Real Estate Properties \| hotel		3
Disposals 2006 [Member] \| InterContinental Hotels Group PLC [Member]
Loss Contingencies [Line Items]
Number of Real Estate Properties \| hotel		2

Commitments and Contingencies (Management Agreements) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($) property	Mar. 31, 2018 USD ($)	Mar. 31, 2019 hotel	Mar. 31, 2016 hotel
Other Commitments
Number of Hotel Properties Operated under Management Agreements \| hotel			150
Number of Real Estate Properties	151		14	41
Minimum
Other Commitments
Management Agreement Term	3 years
Base Management Fee as Percentage of Hotel Revenues	3.00%
Management Agreements which include Franchise Agreement, Base Management Fee as Percentage of Hotel Revenues	3.00%
Maximum
Other Commitments
Management Agreement Term	25 years
Base Management Fee as Percentage of Hotel Revenues	3.50%
Management Agreements which include Franchise Agreement, Base Management Fee as Percentage of Hotel Revenues	7.00%
Management Service [Member]
Other Commitments
Cost of Goods and Services Sold \| $	$ 14.1	$ 15.9

Commitments and Contingencies (Franchise Agreements) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($) property	Mar. 31, 2018 USD ($)	Mar. 31, 2019 hotel	Mar. 31, 2016 hotel
Other Commitments
Number of Hotel Properties Operated under Franchise Agreements \| hotel			108
Number of Real Estate Properties	151		14	41
Minimum
Other Commitments
Franchise Agreements Term	10 years
Franchise Agreements, Royalty Fee as Percentage of Room Revenue	4.00%
Franchise Agreements, Additional Fees for Marketing Central Reservation Systems and Other Franchisor Costs as Percentage of Room Revenue	1.00%
Maximum
Other Commitments
Franchise Agreements Term	30 years
Franchise Agreements, Royalty Fee as Percentage of Room Revenue	6.00%
Franchise Agreements, Additional Fees for Marketing Central Reservation Systems and Other Franchisor Costs as Percentage of Room Revenue	4.30%
Franchise Agreements, Royalty Fee as Percentage of Food and Beverage Revenue	3.00%
Franchise [Member]
Other Commitments
Cost of Goods and Services Sold \| $	$ 20.0	$ 19.7

Equity (Details) - USD ($)		3 Months Ended
Equity (Details) - USD ($)	Aug. 31, 2017	Mar. 31, 2019	Mar. 31, 2018	Feb. 15, 2019	Dec. 31, 2018	Feb. 17, 2017	Oct. 30, 2015
Equity, Class of Treasury Stock
Proceeds net of issuance costs on the issuance of preferred equity in a consolidated joint venture		$ 44,400,000
Share repurchase program, authorized amount				$ 250,000,000		$ 440,000,000.0	$ 400,000,000.0
Share repurchase program, additional authorized amount						$ 40,000,000.0
Common shares repurchased and retired (in shares)		602,309
Stock repurchased during the period, Value		$ 10,561,000
Dividends declared per common share		$ 0.33	$ 0.33
Preferred Stock, Shares Authorized		50,000,000			50,000,000
Common shares of beneficial interest, par value (in dollars per share)		$ 0.01			$ 0.01
Share repurchase program, remaining authorized amount		$ 249,752,931
Proceeds from Issuance of Redeemable Convertible Preferred Stock		$ 45,000,000
Common Stock [Member]
Equity, Class of Treasury Stock
Common shares repurchased and retired (in shares)		602,309
Stock repurchased during the period, Value		$ 6,000
Limited Partners
Equity, Class of Treasury Stock
Remaining limited partner ownership interest in Operating Partnership units (in shares)		772,743
Series A Cumulative Preferred Stock [Member]
Equity, Class of Treasury Stock
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	12,879,475
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Share Price	$ 28.49
Preferred Stock, Shares Authorized	12,950,000	12,950,000			12,950,000
Preferred Stock, Dividends Per Share, Declared		$ 0.4875
RLJ Lodging Trust [Member] \| Series A Cumulative Preferred Stock [Member]
Equity, Class of Treasury Stock
Preferred Stock, Dividend Rate, Per-Dollar-Amount	$ 1.95	$ 1.95
DBT Met Hotel Venture LP [Member]
Equity, Class of Treasury Stock
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		1.70%
The Knickerbocker New York [Member]
Equity, Class of Treasury Stock
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		5.00%
Embassy Suites Secaucus [Member]
Equity, Class of Treasury Stock
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		49.00%
Corporate Joint Venture [Member]
Equity, Class of Treasury Stock
Preferred Stock, Dividend Rate, Percentage		3.25%
Preferred Stock, Dividend Rate, Non-Compounding Rate Payable at Redemption, Percentage		0.25%
2015 Share Repurchase Program [Member]
Equity, Class of Treasury Stock
Stock repurchased during the period, Value		$ 10,400,000
2019 Share Repurchase Program [Member]
Equity, Class of Treasury Stock
Stock repurchased during the period, Value		$ 200,000

Equity Incentive Plan (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended		3 Months Ended
	Feb. 28, 2019	Feb. 28, 2018	Mar. 31, 2019	Mar. 31, 2018
Equity Incentive Plan
Maximum number of common shares available for issuance (in shares)			7,500,000
Other Disclosures
Common shares available for future grant (in shares)			2,712,162
Restricted share awards
Summary of non-vested shares/units
Unvested at the beginning of the period (in shares)			740,792
Granted (in shares)			271,028
Vested (in shares)			(64,614)
Forfeited (in shares)			(2,034)
Unvested at the end of the period (in shares)			945,172
Weighted Average Grant Date Fair Value
Unvested at the beginning of the period (in dollars per share)			$ 21.89
Granted (in dollars per share)			18.97
Vested (in dollars per share)			22.85
Forfeited (in dollars per share)			21.78
Unvested at the end of the period (in dollars per share)			$ 20.98
Other Disclosures
Share-based compensation expense			$ 2.1	$ 2.0
Total unrecognized compensation costs			$ 16.8
Weighted-average period of recognition of unrecognized share-based compensation expense			2 years 8 months
Total fair value of shares vested			$ 1.2	1.4
Vesting period			4 years
2018 Performance Shares
Summary of non-vested shares/units
Granted (in shares)		264,000
Weighted Average Grant Date Fair Value
Granted (in dollars per share)	$ 19.16	$ 13.99
Other Disclosures
Vesting period		4 years
Performance-based vesting period		3 years
Time-based vesting period		1 year
2019 Performance Shares [Member]
Summary of non-vested shares/units
Granted (in shares)	260,000
Other Disclosures
Vesting period	4 years
Performance-based vesting period	3 years
Time-based vesting period	1 year
Vesting percentage upon satisfaction of performance-based vesting period	50.00%
Vesting percentage upon satisfaction of time-based vesting period	50.00%
Fair value assumptions, risk free interest rate	2.52%
Fair value assumptions, expected volatility rate	27.19%
Percentage of grant date fair value to be recognized over three years	50.00%
Employee service share based compensation cost period of recognition	3 years
Percentage of grant date fair value to be recognized over four years	50.00%
Employee service share based compensation cost period of recognition	4 years
Performance Units
Other Disclosures
Share-based compensation expense			$ 0.7	$ 0.5
Total unrecognized compensation costs			$ 7.6
Weighted-average period of recognition of unrecognized share-based compensation expense			2 years 9 months
Minimum \| 2019 Performance Shares [Member]
Other Disclosures
Percentage of performance units that will convert into restricted shares	25.00%
Maximum \| 2019 Performance Shares [Member]
Other Disclosures
Percentage of performance units that will convert into restricted shares	200.00%

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
Net Income (Loss) Attributable to Parent	$ 27,253	$ 23,689
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	28,331	23,894
Numerator:
Preferred Stock Dividends, Income Statement Impact	6,279	6,279
Less: Dividends paid on unvested restricted shares	(312)	(328)
Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares	$ 20,662	$ 17,082
Denominator:
Weighted-average number of common shares - basic (in shares)	172,796,998	174,193,671
Unvested restricted shares (in shares)	59,232	75,144
Weighted-average number of common shares - diluted (in shares)	172,856,230	174,268,815
Net income per share attributable to common shareholders - basic (in dollars per share)	$ 0.12	$ 0.10
Net income per share attributable to common shareholders - diluted (in dollars per share)	$ 0.12	$ 0.10

Supplemental Information to Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Cash, cash equivalents, and restricted cash reserves, end of period	$ 241,481	$ 401,943
Restricted cash reserves	54,217	76,380	$ 64,695
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	295,698	478,323	$ 384,842	$ 659,076
Interest paid	15,701	32,257
Income taxes paid	43	1,623
In conjunction with the sale of hotel properties, the Company recorded the following:
Sale of hotel properties	0	119,200
Transaction costs	0	(2,587)
Operating prorations	0	(537)
Proceeds from the sale of hotel properties, net	0	116,076
Supplemental non-cash transactions
Accrued capital expenditures	6,720	$ 5,314
Operating Lease, Lease Income, Lease Payments	$ 3,589