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Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2019	Feb. 19, 2020	Jun. 28, 2019
Cover page.
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	001-35169
Entity Registrant Name	RLJ LODGING TRUST
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	27-4706509
Entity Address, Address Line One	3 Bethesda Metro Center, Suite 1000
Entity Address, City or Town	Bethesda,
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	20814
City Area Code	301
Local Phone Number	280-7777
Title of 12(b) Security	Common Shares of beneficial interest, par value $0.01 per share
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 3,017,391,083
Entity Common Stock, Shares Outstanding		168,586,062
Documents Incorporated by Reference	Portions of the Definitive Proxy Statement for our 2020 Annual Meeting of Shareholders are incorporated by reference into Part III of this report. We expect to file our proxy statement within 120 days after December 31, 2019.
Entity Central Index Key	0001511337
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false
Trading Symbol	RLJ

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Assets
Investment in hotel properties, net	$ 4,614,966	$ 5,378,651
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	15,171	22,279
Cash and cash equivalents	882,474	320,147
Restricted cash reserves	44,686	64,695
Hotel and other receivables, net of allowance of $251 and $598, respectively	39,762	52,115
Operating Lease, Right-of-Use Asset	144,358	0
Deferred income tax asset, net	51,447	44,629
Intangible Assets, Net (Excluding Goodwill)	0	52,448
Prepaid expense and other assets	58,536	67,367
Total assets	5,851,400	6,002,331
Liabilities and Equity
Long-term Debt	2,195,707	2,202,676
Accounts payable and other liabilities	183,408	203,833
Deferred income tax liability	1,496	2,766
Advance deposits and deferred revenue	57,459	25,411
Operating Lease, Liability	121,154	0
Accrued interest	3,024	7,913
Distributions payable	64,165	65,557
Total liabilities	2,624,917	2,505,390
Commitments and Contingencies (Note 12)
Shareholders’ equity:
Series A Cumulative Convertible Preferred Shares, $0.01 par value, 12,950,000 shares authorized; 12,879,475 shares issued and outstanding, liquidation value of $328,266, at December 31, 2019 and 2018	366,936	366,936
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 169,852,246 and 174,019,616 shares issued and outstanding at December 31, 2019 and 2018, respectively	1,699	1,740
Additional paid-in capital	3,127,982	3,195,381
Accumulated other comprehensive (loss) income	(19,514)	16,195
Distributions in excess of net earnings	(274,769)	(150,476)
Total shareholders’ equity	3,202,334	3,429,776
Noncontrolling interest:
Noncontrolling interest in consolidated joint ventures	14,065	11,908
Noncontrolling interest in the Operating Partnership	10,084	10,827
Total noncontrolling interest	24,149	22,735
Limited Liability Company (LLC) Preferred Unit, Issuance Value	0	44,430
Total equity	3,226,483	3,496,941
Total liabilities and equity	$ 5,851,400	$ 6,002,331

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Preferred shares of beneficial interest, par value (in dollars per share)	$ 0.01	$ 0.01
Total authorized for issuance number of preferred shares of beneficial interest (in shares)	50,000,000	50,000,000
Preferred shares of beneficial interest, issued (in shares)	0	0
Preferred shares of beneficial interest, outstanding (in shares)	0	0
Common shares of beneficial interest, par value (in dollars per share)	$ 0.01	$ 0.01
Total authorized for issuance number of common shares of beneficial interest (in shares)	450,000,000	450,000,000
Common shares of beneficial interest, issued (in shares)	169,852,246	174,019,616
Preferred Stock, Liquidation Preference, Value	$ 328,266	$ 328,266
Limited Liability Company (LLC) Preferred Unit, Liquidation Value	$ 0	$ 45,544
Common shares of beneficial interest, outstanding (in shares)	169,852,246	174,019,616
Hotel and other receivables, allowance (in dollars)	$ 251	$ 598
Series A Cumulative Preferred Stock [Member]
Preferred shares of beneficial interest, par value (in dollars per share)	$ 0.01	$ 0.01
Total authorized for issuance number of preferred shares of beneficial interest (in shares)	12,950,000	12,950,000
Preferred shares of beneficial interest, issued (in shares)	12,879,475	12,879,475
Preferred shares of beneficial interest, outstanding (in shares)	12,879,475	12,879,475

Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues
Total revenues	$ 1,566,192	$ 1,761,224	$ 1,356,261
Expenses
Management and Franchise Fee expense	120,797	138,143	122,633
Depreciation and amortization	211,584	241,641	186,993
Impairment loss	13,500	0	0
Property tax, insurance and other	119,287	135,059	91,406
General and administrative	45,252	49,195	40,453
Transaction costs	1,211	2,057	44,398
Total operating expenses	1,348,044	1,505,181	1,175,121
Interest income	8,720	4,891	2,987
Interest expense	(91,295)	(101,643)	(78,322)
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	(9,300)	30,941	8,980
Gain (Loss) on Extinguishment of Debt	(214)	5,996	0
Gain (Loss) on Investments	0	0	2,670
Income (Loss) from Equity Method Investments	(1,673)	636	133
Other Nonoperating Income (Expense)	1,242	2,791	269
Net Income (Loss) Attributable to Parent	127,842	188,643	74,835
Income before income tax benefit (expense)	127,301	199,019	117,724
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	125,628	199,655	117,857
Income tax benefit (expense)	3,751	(8,793)	(42,118)
Net income	129,379	190,862	75,739
Preferred Stock Dividends and Other Adjustments	(186)	(1,483)	(496)
Other Preferred Stock Dividends and Adjustments	(1,153)	0	0
Preferred Stock Dividends, Income Statement Impact	$ (25,115)	$ (25,115)	$ (8,372)
Common Stock, Dividends, Per Share, Declared	$ 1.32	$ 1.32	$ 1.32
Net loss (income) attributable to noncontrolling interests:
Noncontrolling Interest in Net Income (Loss) Operating Partnerships, Nonredeemable	$ (487)	$ (719)	$ (291)
Noncontrolling Interest in Net Income (Loss) Joint Venture Partners, Nonredeemable	289	(17)	(117)
Net income attributable to common shareholders	$ 102,727	$ 163,528	$ 66,463
Basic per common share data:
Net income per share attributable to common shareholders - basic (in dollars per share)	$ 0.59	$ 0.93	$ 0.47
Weighted-average number of common shares (in shares)	171,287,086	174,225,130	140,616,838
Diluted per common share data:
Net income per share attributable to common shareholders - diluted (in dollars per share)	$ 0.59	$ 0.93	$ 0.47
Weighted-average number of common shares (in shares)	171,388,476	174,316,405	140,694,049
Comprehensive income:
Net income	$ 129,379	$ 190,862	$ 75,739
Unrealized (loss) gain on interest rate derivatives	(33,459)	7,349	13,748
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(2,250)	0	0
Comprehensive income	93,670	198,211	89,487
Comprehensive income attributable to RLJ	93,286	195,992	88,583
Food and Beverage [Member]
Revenues
Revenue from Contract with Customer, Excluding Assessed Tax	177,499	205,518	157,672
Expenses
Cost of Goods and Services Sold	134,206	157,156	113,914
Hotel, Other [Member]
Revenues
Revenue from Contract with Customer, Excluding Assessed Tax	71,608	82,659	51,707
Expenses
Cost of Goods and Services Sold	373,130	417,110	304,595
Hotel [Member]
Expenses
Cost of Goods and Services Sold	957,210	1,077,229	811,871
Occupancy [Member]
Revenues
Revenue from Contract with Customer, Excluding Assessed Tax	1,317,085	1,473,047	1,146,882
Expenses
Cost of Goods and Services Sold	$ 329,077	$ 364,820	$ 270,729

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in-Capital	Retained Earnings (Distributions in excess of net earnings)	Accumulated Other Comprehensive Loss	Total Noncontrolling Interests	Operating Partnership	Consolidated Joint Venture	Retained Earnings [Member]	Series A Cumulative Preferred Stock [Member]	Preferred Capital in Consolidated Joint Venture [Member]
Net Income (Loss) Attributable to Parent	$ 74,835
Balance (in shares) at Dec. 31, 2016		124,364,178								0
Balance at Dec. 31, 2016	2,235,277	$ 1,244	$ 2,187,333	$ 38,249	$ (4,902)		$ 7,380	$ 5,973		$ 0	$ 0
Increase (Decrease) in Equity
Net income	75,739			74,835			291	117			496
Unrealized gain (loss) on interest rate derivatives	13,748				13,748
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	0
Stock Issued During Period, Value, Acquisitions	366,936									$ 366,936
Noncontrolling Interest, Increase from Business Combination	$ 5,493							5,493
Number of shares acquired as part of a share repurchase program (in shares)	(122,508)	(122,508)
Shares acquired as part of a share repurchase program	$ (2,610)	$ (1)	(2,609)
Proceeds from sale of common stock, net (in shares)		50,358,104
Proceeds from the sale of common stock, net	1,016,227	$ 504	1,015,723
Issuance of restricted stock (in shares)		425,076
Issuance of restricted stock	0	$ 4	(4)
Amortization of share-based compensation	10,607		10,607
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock (in shares)		144,766
Shares acquired to satisfy statutory minimum federal and state tax obligations on vesting restricted stock	(3,050)	$ (2)	(3,048)
Forfeiture of restricted stock (in shares)		(11,038)
Restricted Stock Award, Forfeitures	0	$ 0	0
Contributions from a noncontrolling interest	117							117
Dividends, Preferred Stock	(8,372)			(8,372)
Distributions on common shares and units	(188,110)			(187,278)			(832)
Preferred Stock Dividends and Other Adjustments	496										496
Balance (in shares) at Dec. 31, 2017		174,869,046								12,879,475
Balance at Dec. 31, 2017	3,570,278	$ 1,749	3,208,002	(82,566)	8,846		11,181	11,700		$ 366,936	44,430
Increase (Decrease) in Equity
Noncontrolling Interest, Increase from Subsidiary Equity Issuance	44,430										44,430
Common Unit, Issuance Value	4,342						4,342
Stock Issued During Period, Shares, Acquisitions										12,879,475
Net Income (Loss) Attributable to Parent	188,643
Net income	190,862						719	17			1,483
Unrealized gain (loss) on interest rate derivatives	7,349				7,349
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	0
Redemption of Operating Partnership units, shares		0
Redemption of Operating Partnership units, value	$ (14)	$ 0	0			$ 0	(14)
Number of shares acquired as part of a share repurchase program (in shares)	(1,162,557)	(1,162,557)
Shares acquired as part of a share repurchase program	$ (21,814)	$ (12)	(21,802)
Issuance of restricted stock (in shares)		592,673
Issuance of restricted stock	0	$ 6	(6)
Amortization of share-based compensation	12,769		12,769
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock (in shares)		(166,221)
Shares acquired to satisfy statutory minimum federal and state tax obligations on vesting restricted stock	(3,585)	$ (2)	(3,583)
Forfeiture of restricted stock (in shares)		(113,325)
Restricted Stock Award, Forfeitures	0	$ (1)	1
Contributions from a noncontrolling interest	(191)							(191)
Dividends, Preferred Stock	(25,115)								$ (25,115)
Distributions on common shares and units	(232,497)			(231,438)			(1,059)
Preferred Stock Dividends and Other Adjustments	1,483										1,483
Balance (in shares) at Dec. 31, 2018		174,019,616								12,879,475
Balance at Dec. 31, 2018	3,496,941	$ 1,740	3,195,381	(150,476)	16,195		10,827	11,908		$ 366,936	44,430
Limited Liability Company (LLC) Preferred Unit, Issuance Value	44,430
Net Income (Loss) Attributable to Parent	127,842			127,842
Increase (Decrease) in Equity
Net income	129,379						487	(289)			1,339
Unrealized gain (loss) on interest rate derivatives	(33,459)				(33,459)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(2,250)				(2,250)
Redemption of Operating Partnership units, shares		0
Redemption of Operating Partnership units, value	$ (9)	$ 0	0				(9)
Number of shares acquired as part of a share repurchase program (in shares)	(4,575,170)	(4,575,170)
Shares acquired as part of a share repurchase program	$ (77,834)	$ (45)	(77,789)
Issuance of restricted stock (in shares)		530,436
Issuance of restricted stock	0	$ 5	(5)
Amortization of share-based compensation	12,196		12,196
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock (in shares)		(103,741)
Shares acquired to satisfy statutory minimum federal and state tax obligations on vesting restricted stock	(1,802)	$ (1)	(1,801)
Forfeiture of restricted stock (in shares)		(18,895)
Restricted Stock Award, Forfeitures	0	$ 0	0
Contributions from a noncontrolling interest	(2,446)							(2,446)
Dividends, Preferred Stock	(25,115)								$ (25,115)
Distributions on common shares and units	(228,241)			(227,020)			(1,221)
Preferred Stock Dividends and Other Adjustments	186										186
Balance (in shares) at Dec. 31, 2019		169,852,246								12,879,475
Balance at Dec. 31, 2019	3,226,483	$ 1,699	$ 3,127,982	$ (274,769)	$ (19,514)		$ 10,084	$ 14,065		$ 366,936	0
Increase (Decrease) in Equity
Stock Redeemed or Called During Period, Value	(45,583)										$ (45,583)
Limited Liability Company (LLC) Preferred Unit, Issuance Value	$ 0

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities
Net income	$ 129,379	$ 190,862	$ 75,739
Adjustments to reconcile net income to cash flow provided by operating activities:
Loss (gain) on sale of hotel properties, net	9,300	(30,941)	(8,980)
Gain (Loss) on Extinguishment of Debt	214	(5,996)	0
Gain (Loss) on Investments	0	0	(2,670)
Depreciation and amortization	211,584	241,641	186,993
Amortization of deferred financing costs	4,100	3,504	3,499
Amortization of Debt Discount (Premium)	(2,055)	(3,081)	(2,098)
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	376	0	0
Income (Loss) from Equity Method Investments	1,673	(636)	(133)
Proceeds from Equity Method Investment, Distribution	1,964	2,591	1,900
Accretion of interest income on an investment in loan	0	0	(664)
Impairment loss	13,500	0	0
Amortization of share-based compensation	11,459	12,251	10,607
Deferred income taxes	(6,818)	8,384	40,140
Changes in assets and liabilities:
Hotel and other receivables, net	8,813	5,580	(5,686)
Prepaid expense and other assets	(6,335)	351	3,805
Accounts payable and other liabilities	(10,706)	(20,590)	(27,575)
Advance deposits and deferred revenue	35,766	82	(5,307)
Accrued interest	(4,889)	(9,168)	(8,975)
Net cash flow provided by operating activities	397,325	394,834	260,595
Payments to acquire FelCor Lodging Trust	0	0	24,883
Cash flows from investing activities
Proceeds from the sale of hotel properties, net	685,870	475,063	180,279
Improvements and additions to hotel properties	(157,354)	(197,599)	(103,208)
Cash Paid to Equity Method Investment, Contribution	(603)	(350)	0
Proceeds from Equity Method Investment, Distribution, Return of Capital	(2,499)	0	0
Payments for (Proceeds from) Investments	0	0	12,792
Net cash flow provided by investing activities	530,412	277,114	64,980
Cash flows from financing activities
Borrowings under Revolver	140,000	300,000	0
Repayments under Revolver	(140,000)	(300,000)	0
Repayments of Senior Notes	(112)	(539,026)	(990)
Proceeds from mortgage loans	381,000	0	0
Scheduled mortgage loan principal payments	(3,979)	(6,335)	(4,770)
Repayments of mortgage loans	(374,500)	(113,137)	0
Repurchase of common shares under a share repurchase program	(77,834)	(21,814)	(2,610)
Repurchase of common shares to satisfy employee tax withholding requirements	(1,802)	(3,585)	(3,050)
Payments of Ordinary Dividends, Preferred Stock and Preference Stock	(25,115)	(25,115)	(6,279)
Distributions on common shares	(228,287)	(231,188)	(169,942)
Distributions on Operating Partnership units	(1,230)	(1,050)	(775)
Payments of deferred financing costs	(10,111)	(3,640)	(1,582)
Payments of Distributions to Affiliates	(312)	(1,483)	(496)
Payments for Repurchase of Redeemable Preferred Stock	(45,583)	0	0
Contributions from consolidated joint venture partners	2,446	191	117
Contributions from a noncontrolling interest	2,446	191	(117)
Net cash flow used in financing activities	(385,419)	(946,182)	(190,377)
Net change in cash, cash equivalents, and restricted cash reserves	542,318	(274,234)	135,198
Cash, cash equivalents, and restricted cash reserves, end of year	882,474	320,147	586,470
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 927,160	$ 384,842	$ 659,076

Organization	12 Months Ended
Organization	Dec. 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 acquires 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 December 31, 2019, there were 170,624,989 units of limited partnership interest in the Operating Partnership (“OP units”) outstanding and the Company owned, through a combination of direct and indirect interests, 99.5% of the outstanding OP units. As of December 31, 2019, the Company owned 104 hotel properties with approximately 22,700 rooms, located in 23 states and the District of Columbia. The Company, through wholly-owned subsidiaries, owned a 100% interest in 100 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 102 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 103 of the 104 hotel properties to its taxable REIT subsidiaries ("TRS"), of which the Company owns a controlling financial interest.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation and Principles of Consolidation

The 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").

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.

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.

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.

Revenue

Substantially all of the Company's revenues are derived from the operation of hotel properties. The Company generates room revenue by renting hotel rooms to customers at its hotel properties. The Company generates food and beverage revenue from the sale of food and beverage to customers at its hotel properties. The Company generates other revenue from parking fees, resort fees, gift shop sales and other guest service fees at its hotel properties.

A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. A contract's transaction price is allocated to each distinct performance obligation and recognized as revenue when the performance obligation is satisfied. The Company's contracts generally have a single performance obligation, such as renting a hotel room

to a customer, or providing food and beverage to a customer, or providing a hotel property-related good or service to a customer. The Company's performance obligations are generally satisfied at a point in time.

The Company allocates revenue to the performance obligation based on its relative standalone selling price. The Company determines the standalone selling price based on the price it charges each customer for the use or consumption of the promised good or service.

The Company's revenue is recognized when control of the promised good or service is transferred to the customer, in an amount that reflects the consideration the Company expects to receive in exchange for the promised good or service. The revenue is recorded net of any sales and occupancy taxes collected from the customer. All rebates or discounts are recorded as a reduction to revenue, and there are no material contingent obligations with respect to rebates and discounts offered by the hotel properties.

The timing of revenue recognition, billings, and cash collections results in the Company recognizing hotel and other receivables and advance deposits and deferred revenue on the consolidated balance sheet. Hotel and other receivables are recognized on the consolidated balance sheets when the Company has provided a good or service to the customer and is waiting for the customer to submit consideration to the Company. Advance deposits and deferred revenue are recognized on the consolidated balance sheets when cash payments are received in advance of the Company satisfying its performance obligation. Advance deposits and deferred revenue consist of amounts that are refundable and non-refundable to the customer. The advance deposits and deferred revenue are recognized as revenue in the consolidated statements of operations and comprehensive income when the Company satisfies its performance obligation to the customer.

For the majority of its goods or services and customers, the Company requires payment at the time the respective good or service is provided to the customer. The Company's payment terms vary by the type of customer and the goods or services offered to the customer. The Company applied a practical expedient to not disclose the value of unsatisfied performance obligations for contracts that have an original expected length of one year or less. Any contracts that have an original expected length of greater than one year are insignificant.

The Company records an allowance for doubtful accounts based on its best estimate of the amount of probable credit losses in the existing accounts receivable portfolio. The Company recognizes increases to the allowance for doubtful accounts as bad debt expense. The allowance for doubtful accounts is calculated as a percentage of the aged accounts receivable based on the Company's historical collection activity and its understanding of the circumstances related to a specific receivable.

Investment in Hotel Properties

The Company’s acquisitions generally consist of land, land improvements, buildings, building improvements, furniture, fixtures and equipment ("FF&E"), and inventory. The Company may also acquire intangible assets or liabilities related to in-place leases, management agreements, franchise agreements, and advanced bookings. The Company allocates the purchase price among the assets acquired and the liabilities assumed based on their respective fair values at the date of acquisition. The Company estimates the fair values of the assets acquired and the liabilities assumed by using a combination of the market, cost and income approaches. The Company determines the fair value by using market data and independent appraisals available to us and making numerous estimates and assumptions, such as estimates of future income growth, capitalization rates, discount rates, capital expenditures and cash flow projections at the respective hotel properties. Transaction costs are expensed for acquisitions that are considered business combinations and capitalized for asset acquisitions.

The Company’s investments in hotel properties are carried at cost and are depreciated using the straight-line method over the estimated useful lives of 15 years for land improvements, 15 years for building improvements, 40 years for buildings, and three to five years for FF&E. Maintenance and repairs are expensed and major renewals or improvements to the hotel properties are capitalized. Indirect project costs, including interest, salaries and benefits, travel and other related costs that are directly attributable to the development, are also capitalized. Upon the sale or disposition of a hotel property, the asset and related accumulated depreciation accounts are removed and the related gain or loss is included in the gain or loss on sale of hotel properties in the consolidated statements of operations and comprehensive income. A sale or disposition of a hotel property that represents a strategic shift that has or will have a major effect on the Company's operations and financial results is presented as discontinued operations in the consolidated statements of operations and comprehensive income.

In accordance with the guidance on impairment or disposal of long-lived assets, the Company does not consider the "held for sale" classification on the consolidated balance sheet until it is expected to qualify for recognition as a completed sale within one year and the other requisite criteria for such classification have been met. The Company does not depreciate assets so long as they are classified as held for sale. Upon designation as held for sale and quarterly thereafter, the Company reviews

the realizability of the carrying value, less costs to sell, in accordance with the guidance. Any such adjustment to the carrying value is recorded as an impairment loss.

The Company assesses the carrying value of its investments in hotel properties whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. The recoverability is measured by comparing the carrying amount to the estimated undiscounted future cash flows expected to be generated from the operations and the eventual disposition of the hotel properties over the estimated hold period, which take into account current market conditions and the Company’s intent with respect to holding or disposing of the hotel properties. If the Company’s analysis indicates that the carrying value is not recoverable on an undiscounted cash flow basis, the Company will recognize an impairment loss for the amount by which the carrying value exceeds the fair value. The fair value is determined through various valuation techniques, including internally developed discounted cash flow models, comparable market transactions, third-party appraisals, the net sales proceeds from pending offers, or the net sales proceeds from transactions that closed subsequent to the end of the reporting period. The use of projected future cash flows is based on assumptions that are consistent with a market participant’s future expectations for the travel industry and the economy in general, including discount rates, terminal capitalization rates, average daily rates, occupancy rates, operating expenses and capital expenditures, and the Company's intent with respect to holding or disposing of the underlying hotel properties. Fair value may also be based on assumptions including, but not limited to, room revenue multiples and comparable sales adjusted for capital expenditures, if necessary.

Investment in Unconsolidated Joint Ventures

If the Company determines that it does not have a controlling financial interest in a joint venture, either through a controlling financial interest in a variable interest entity or through the Company's voting interest in a voting interest entity, but the Company exercises significant influence over the operating and financial policies of the joint venture, the Company accounts for the joint venture using the equity method of accounting. Under the equity method of accounting, the Company's investment is adjusted each reporting period to recognize the Company's share of the net earnings or losses of the joint venture, plus any contributions to the joint venture, less any distributions received from the joint venture and any adjustment for impairment. In addition, the Company's share of the net earnings or losses of the joint venture is adjusted for the straight-line depreciation of the difference between the Company's basis in the investment in the unconsolidated joint venture as compared to the historical basis of the underlying net assets in the joint venture at the date of acquisition.

The Company assesses the carrying value of its investment in unconsolidated joint ventures whenever events or changes in circumstances may indicate that the carrying value of the investment exceeds its fair value on an other-than-temporary basis. When an impairment indicator is present, the Company will estimate the fair value of the investment, which will be determined by using internally developed discounted cash flow models, comparable market transactions, third-party appraisals, the net sales proceeds from pending offers, or the net sales proceeds from transactions that closed subsequent to the end of the reporting period. If the estimated fair value is less than the carrying value, and management determines that the decline in value is considered to be other-than-temporary, the Company will recognize an impairment loss on its investment in the joint venture.

The Company evaluates the nature of the distributions from each of its unconsolidated joint ventures in order to classify the distributions as either operating activities or investing activities in the consolidated statements of cash flows. Any cash distribution that is considered to be a distribution of the earnings of the unconsolidated joint venture is presented as an operating activity in the consolidated statements of cash flows. Any cash distribution that is considered to be a return of capital from the unconsolidated joint venture is presented as an investing activity in the consolidated statements of cash flows.

Intangible Assets

In a business combination, the Company may acquire intangible assets related to in-place leases, management agreements, franchise agreements, advanced bookings, and other intangible assets. The Company recognizes each of the intangible assets at fair value. The Company estimated the fair value of the intangible assets by using market data and independent appraisals, and by making numerous estimates and assumptions. The below market lease intangible assets are amortized over the remaining terms of the respective leases as adjustments to rental expense in property tax, insurance and other in the consolidated statements of operations and comprehensive income. The advanced bookings intangible assets are amortized over the duration of the hotel room and guest event reservations period at the respective hotel property to depreciation and amortization in the consolidated statements of operations and comprehensive income. The other intangible assets are amortized over the remaining non-cancelable term of the related agreement, or the useful life of the respective intangible asset, to depreciation and amortization in the consolidated statements of operations and comprehensive income.

The Company assesses the carrying value of the intangible assets whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. The recoverability is measured by comparing the carrying amount to the estimated undiscounted future cash flows, which take into account current market conditions and the Company’s intent with respect to holding or disposing of the hotel properties. If the Company’s analysis indicates that the carrying value is not recoverable on an undiscounted cash flow basis, the Company will recognize an impairment loss for the amount by which the carrying value exceeds the fair value. The fair value is determined through various valuation techniques, including internally developed discounted cash flow models or third-party appraisals. The use of projected future cash flows is based on assumptions that are consistent with a market participant's future expectations for the travel industry and the economy in general, including discount rates, market rent, and the Company's intent with respect to holding or disposing of the underlying hotel properties.

Cash and Cash Equivalents

Cash and cash equivalents include all cash and highly liquid investments that mature three months or less when they are purchased. The Company maintains its cash at domestic banks, which, at times, may exceed the limits of the amounts insured by the Federal Deposit Insurance Corporation.

Restricted Cash Reserves

Restricted cash reserves consist of all cash that is required to be maintained in a reserve escrow account by a management agreement, franchise agreement, and/or a mortgage loan agreement for the replacement of FF&E and the funding of real estate taxes and insurance.

Hotel Receivables

Hotel receivables consist mainly of receivables due from hotel guests and meeting and banquet room rentals. The Company typically does not require collateral as ongoing credit evaluations are performed. An allowance for doubtful accounts is established against any receivable that is estimated to be uncollectible.

Deferred Financing Costs

Deferred financing costs are the costs incurred to obtain long-term financing. The deferred financing costs are recorded at cost and are amortized using the straight-line method, which approximates the effective interest method, over the respective term of the financing agreement and are included as a component of interest expense in the consolidated statements of operations and comprehensive income. The Company expenses unamortized deferred financing costs when the associated financing agreement is refinanced or repaid before the maturity date, unless certain criteria are met that would allow for the carryover of such costs to the refinanced agreement. The Company presents the deferred financing costs for its Term Loans (as defined in Note 9) and mortgage loans on the balance sheet as a direct deduction from the carrying amount of the respective debt liability, which is included in debt, net, in the accompanying consolidated balance sheets. The Company presents the deferred financing costs for its unsecured revolving credit facility (the "Revolver") on the balance sheet as an asset, which is included in prepaid expense and other assets in the accompanying consolidated balance sheets.

For the years ended December 31, 2019, 2018 and 2017, approximately $4.1 million, $3.5 million and $3.5 million, respectively, of amortization expense was recorded as a component of interest expense in the consolidated statements of operations and comprehensive income.

Transaction Costs

The Company incurs costs during the review of potential hotel property acquisitions and dispositions, including legal fees and other professional service fees. In addition, if the Company completes a hotel property acquisition, the Company may incur transfer taxes and integration costs, including professional fees and employee-related costs. If the Company completes a hotel property acquisition that is considered to be an asset acquisition, the transaction costs are capitalized on the consolidated balance sheets. If the Company completes a hotel property acquisition that is considered to be a business combination, the transaction costs are expensed as incurred in the consolidated statements of operations and comprehensive income.

Derivative Financial Instruments

In the normal course of business, the Company is exposed to the effects of interest rate changes. The Company utilizes a variety of borrowing vehicles, including the Revolver and medium and long-term financings. The Company reduces its risk to interest rate changes by following its established risk management policies and procedures, including the use of derivative financial instruments to manage, or hedge, interest rate risk. To mitigate the Company's exposure to interest rate changes, the Company uses interest rate derivative instruments, typically interest rate swaps, to convert a portion of its variable rate debt to fixed rate debt. The Company attempts to require the hedging derivative instruments to be effective in reducing the interest rate risk exposure that they are designated to hedge. This effectiveness is essential in order to qualify for hedge accounting. Derivative instruments that meet the hedging criteria are formally designated as cash flow hedges at the inception of the derivative contract. The Company does not use derivative instruments for trading or speculative purposes.

Interest rate swap agreements contain a credit risk that the counterparties may be unable to fulfill the terms of the agreement. The Company has minimized the credit risk by evaluating the creditworthiness of its counterparties, who are limited to major banks and financial institutions, and it does not anticipate nonperformance by these counterparties.

The estimated fair values of the derivatives are determined by using available market information and appropriate valuation methods. Considerable judgment is required in interpreting market data to develop the estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts that the Company could realize in a current market exchange.

The Company recognizes all derivatives as assets or liabilities on its consolidated balance sheet at fair value. The gains and losses on the derivatives that have been determined to be effective cash flow hedges are reported in other comprehensive income (loss) and are reclassified to interest expense in the period in which the interest expense is recognized on the underlying hedged item. The ineffective portion of the change in fair value of the derivatives is recognized in earnings immediately.

When the terms of an underlying transaction are modified, or when the underlying hedged item ceases to exist, and the interest rate derivative no longer qualifies for hedge accounting, all changes in the fair value of the derivative instrument are marked-to-market with the changes in fair value recognized in earnings each period until the derivative instrument matures.

In August 2017, the FASB issued 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 is meant to simplify the application of hedge accounting and better align the financial reporting for hedging activities with the entity's economic and risk management activities. Under the new guidance, 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 guidance is effective for annual reporting periods beginning after December 15, 2018, and the interim periods within those annual periods, with early adoption permitted. 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. 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; all of which are recognized as variable lease expense, when incurred, in the consolidated statements of operations and comprehensive income. The variable lease expense incurred by the Company was not based on an index or rate.

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 use 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 a 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 statements of operations and comprehensive income and the consolidated statements of cash flows. Refer to Note 12, Commitments and Contingencies, for the Company's disclosures about its lease contracts.

Noncontrolling Interests

The consolidated financial statements include all subsidiaries controlled by the Company. 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.

As of December 31, 2019 and 2018, the Company consolidated the Operating Partnership, which has a 0.5% third-party ownership interest. The third-party ownership interest is included in the noncontrolling interest in the Operating Partnership in the equity section of the consolidated balance sheets. The portion of the income and losses associated with the third-party ownership interest are included in the noncontrolling interest in the Operating Partnership in the consolidated statements of operations and comprehensive income.

As of December 31, 2019 and 2018, the Company consolidated the joint venture that owns the DoubleTree Metropolitan Hotel New York City hotel property; this joint venture has a 1.7% third-party ownership interest in the joint venture. The Company also consolidated the joint venture that owns The Knickerbocker hotel property; this joint venture has a 5% third-party ownership interest in the joint venture. In addition, the Company consolidated the operating lessee of the Embassy Suites Secaucus - Meadowlands hotel property through its 51% controlling financial interest in the operating lessee of the joint venture; this joint venture has a 49% third-party ownership interest in the joint venture. The third-party ownership interest is included in the noncontrolling interest in consolidated joint ventures in the equity section of the consolidated balance sheets. The income and losses associated with the third-party ownership interest are included in the noncontrolling interest in consolidated joint ventures in the consolidated statements of operations and comprehensive income.

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. 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 U.S. 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 U.S. federal income and excise taxes on undistributed taxable income. Taxable income from non-REIT activities managed through the Company's TRSs is subject to U.S. federal, state, and local income taxes at the applicable rates.

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 performs an annual review for any uncertain tax positions and, if necessary, will record the expected future tax consequences of uncertain tax positions in the consolidated financial statements.

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 and performance units 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 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 common share calculation.

Share-based Compensation

The Company may issue share-based awards as compensation to officers, employees, non-employee trustees and other eligible persons under the RLJ Lodging Trust 2015 Equity Incentive Plan (the "2015 Plan"). The vesting of the awards issued to the officers and employees is based on either the continued employment (time-based) or the relative total shareholder returns of the Company and continued employment (performance-based), as determined by the board of trustees at the date of grant. For time-based awards, the Company recognizes compensation expense for the 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 grant, adjusted for forfeitures. For performance-based awards, the Company recognizes compensation expense over the requisite service period for each award, based on the fair market value of the shares on the date of grant, as determined using a Monte Carlo simulation, adjusted for forfeitures.

Non-employee trustees may 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 the 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 based upon the fair market value of the shares on the date of issuance.

Recently Issued Accounting Pronouncements

In August 2018, the SEC issued SEC Final Rule 33-10532, Disclosure Update and Simplification. The amendments simplify or eliminate duplicative, overlapping, or outdated disclosure requirements. The amendments also 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 amended rules are effective for reports filed on or after November 5, 2018. However, the SEC issued Compliance & Disclosure Interpretation 105.09 that allows entities to defer the adoption of the new disclosure requirement relating to changes in shareholders' equity for interim periods until the Form 10-Q for the quarterly period that begins after November 5, 2018. 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.

Merger with FelCor Lodging Trust Incorporated (Notes)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

Merger with FelCor Lodging Trust Incorporated

On August 31, 2017 (the "Acquisition Date"), the Company, the Operating Partnership, Rangers Sub I, LLC, a wholly owned subsidiary of the Operating Partnership ("Rangers"), and Rangers Sub II, LP, a wholly owned subsidiary of the Operating Partnership ("Partnership Merger Sub"), consummated the transactions contemplated by the Agreement and Plan of Merger (the "Merger Agreement"), dated as of April 23, 2017, with FelCor Lodging Trust Incorporated ("FelCor") and FelCor Lodging Limited Partnership ("FelCor LP") pursuant to which Partnership Merger Sub merged with and into FelCor LP, with FelCor LP surviving as a wholly owned subsidiary of the Operating Partnership (the "Partnership Merger"), and, immediately thereafter, FelCor merged with and into Rangers, with Rangers surviving as a wholly owned subsidiary of the Operating Partnership (the "REIT Merger" and, together with the Partnership Merger, the "Mergers").

Upon completion of the REIT Merger and under the terms of the Merger Agreement, each issued and outstanding share of common stock, par value $0.01 per share, of FelCor (other than shares held by any wholly owned subsidiary of FelCor or by the Company or any of its subsidiaries) was converted into the right to receive 0.362 (the "Common Exchange Ratio") common shares of beneficial interest, par value $0.01 per share, of the Company (the "Common Shares"), and each issued and outstanding share of $1.95 Series A cumulative convertible preferred stock, par value $0.01 per share, of FelCor was converted into the right to receive one $1.95 Series A Cumulative Convertible Preferred Share, par value $0.01 per share, of the Company (a "Series A Preferred Share").

Upon completion of the Partnership Merger and under the terms of the Merger Agreement, each limited partner of FelCor LP was entitled to elect to exchange its outstanding common limited partnership units in FelCor LP (the "FelCor LP Common Units") for a number of newly issued Common Shares based on the Common Exchange Ratio. Upon completion of the Partnership Merger, each outstanding FelCor LP Common Unit of any holder who did not make the foregoing election was converted into the right to receive a number of common limited partnership units in the Operating Partnership (the "OP Units") based on the Common Exchange Ratio. No fractional shares of units of Common Shares or OP Units were issued in the Mergers, and the value of any fractional interests was paid in cash.

The Company accounted for the Mergers under the acquisition method of accounting in ASC 805, Business Combinations. As a result of the Mergers, the Company acquired an ownership interest in the following 37 hotel properties:



Hotel Property Name	Location	Ownership Interest	Management Company	Rooms
DoubleTree Suites by Hilton Austin	Austin, TX	100%	Hilton	188
DoubleTree Suites by Hilton Orlando - Lake Buena Vista	Orlando, FL	100%	Hilton	229
Embassy Suites Atlanta - Buckhead	Atlanta, GA	100%	Hilton	316
Embassy Suites Birmingham	Birmingham, AL	100%	Hilton	242
Embassy Suites Boston Marlborough (1)	Marlborough, MA	100%	Hilton	229
Embassy Suites Dallas - Love Field	Dallas, TX	100%	Aimbridge Hospitality	248
Embassy Suites Deerfield Beach - Resort & Spa	Deerfield Beach, FL	100%	Hilton	244
Embassy Suites Fort Lauderdale 17th Street	Fort Lauderdale, FL	100%	Hilton	361
Embassy Suites Los Angeles - International Airport South	El Segundo, CA	100%	Hilton	349
Embassy Suites Mandalay Beach - Hotel & Resort	Oxnard, CA	100%	Hilton	250
Embassy Suites Miami - International Airport	Miami, FL	100%	Hilton	318
Embassy Suites Milpitas Silicon Valley	Milpitas, CA	100%	Hilton	266
Embassy Suites Minneapolis - Airport	Bloomington, MN	100%	Hilton	310
Embassy Suites Myrtle Beach - Oceanfront Resort (11)	Myrtle Beach, SC	100%	Hilton	255
Embassy Suites Napa Valley (2)	Napa, CA	100%	Hilton	205
Embassy Suites Orlando - International Drive South/Convention Center	Orlando, FL	100%	Hilton	244
Embassy Suites Phoenix - Biltmore	Phoenix, AZ	100%	Hilton	232
Embassy Suites San Francisco Airport - South San Francisco	San Francisco, CA	100%	Hilton	312
Embassy Suites San Francisco Airport - Waterfront	Burlingame, CA	100%	Hilton	340
Embassy Suites Secaucus - Meadowlands (3)	Secaucus, NJ	50%	Hilton	261
Hilton Myrtle Beach Resort (11)	Myrtle Beach, SC	100%	Hilton	385
Holiday Inn San Francisco - Fisherman's Wharf (4)	San Francisco, CA	100%	InterContinental Hotels	585
San Francisco Marriott Union Square	San Francisco, CA	100%	Marriott	400
Sheraton Burlington Hotel & Conference Center (5) (6)	Burlington, VT	100%	Marriott	309
Sheraton Philadelphia Society Hill Hotel (7)	Philadelphia, PA	100%	Marriott	364
The Fairmont Copley Plaza (8)	Boston, MA	100%	FRHI Hotels & Resorts	383
The Knickerbocker New York	New York, NY	95%	Highgate Hotels	330
The Mills House Wyndham Grand Hotel	Charleston, SC	100%	Wyndham	216
The Vinoy Renaissance St. Petersburg Resort & Golf Club (9)	St. Petersburg, FL	100%	Marriott	361
Wyndham Boston Beacon Hill	Boston, MA	100%	Wyndham	304
Wyndham Houston - Medical Center Hotel & Suites	Houston, TX	100%	Wyndham	287
Wyndham New Orleans - French Quarter	New Orleans, LA	100%	Wyndham	374
Wyndham Philadelphia Historic District	Philadelphia, PA	100%	Wyndham	364
Wyndham Pittsburgh University Center	Pittsburgh, PA	100%	Wyndham	251
Wyndham San Diego Bayside	San Diego, CA	100%	Wyndham	600
Wyndham Santa Monica At The Pier	Santa Monica, CA	100%	Wyndham	132
Chateau LeMoyne - French Quarter, New Orleans (10)	New Orleans, LA	50%	InterContinental Hotels	171
				11,215


(1)	In February 2018, the Company sold this hotel property for a sale price of $23.7 million.


(2)	In July 2018, the Company sold this hotel property for a sale price of $102.0 million.


(3)	The Company owns an indirect 50% ownership interest in the real estate at this hotel property and records the real estate interests using the equity method of accounting. The Company leases the hotel property to its TRS, of which the Company owns a controlling financial interest in the operating lessee, so the Company consolidates its ownership interest in the leased hotel.


(4)	In October 2018, the Company sold this hotel property for a sale price of $75.3 million.


(5)	In December 2017, this hotel property was converted to the DoubleTree by Hilton Burlington Vermont.


(6)	In September 2018, the Company sold this hotel property for a sale price of $35.0 million.


(7)	In March 2018, the Company sold this hotel property for a sale price of $95.5 million.


(8)	In December 2017, the Company sold this hotel property for a sale price of $170.0 million.


(9)	In August 2018, the Company sold this hotel property for a sale price of $185.0 million.


(10)	The Company owns an indirect 50% ownership interest in this hotel property and accounts for its ownership interest using the equity method of accounting. This hotel property is operated without a lease.


(11)	In June 2019, the Company sold the two Myrtle Beach, South Carolina hotels for $153.3 million.

The total consideration for the Mergers was approximately $1.4 billion, which included the Company's issuance of approximately 50.4 million Common Shares at $20.18 per share to FelCor common stockholders, the Company's issuance of approximately 12.9 million Series A Preferred Shares at $28.49 per share to former FelCor preferred stockholders, the Operating Partnership's issuance of approximately 0.2 million OP Units at $20.18 per unit to former FelCor LP limited partners, and cash. The total consideration consisted of the following (in thousands):



	Total Consideration
Common Shares	$	1,016,227
Series A Preferred Shares	366,936
OP Units	4,342
Cash, net of cash, cash equivalents, and restricted cash reserves acquired	24,883
Total consideration	$	1,412,388

The Company allocated the purchase price consideration as follows (in thousands):



	August 31, 2017
Investment in hotel properties	$	2,661,114
Investment in unconsolidated joint ventures	25,651
Hotel and other receivables	28,308
Deferred income tax assets	58,170
Intangible assets	139,673
Prepaid expenses and other assets	23,811
Debt	(1,305,337		)
Accounts payable and other liabilities	(118,360		)
Advance deposits and deferred revenue	(23,795		)
Accrued interest	(22,612		)
Distributions payable	(4,312		)
Noncontrolling interest in consolidated joint ventures	(5,493		)
Preferred equity in a consolidated joint venture	(44,430		)
Total consideration	$	1,412,388

The Company recognized the following intangible assets in the Mergers (dollars in thousands):



			Weighted Average Amortization Period (in Years)
Below market ground leases	$	118,050	54
Advanced bookings	13,862		1
Other intangible assets	7,761		6
Total intangible assets	$	139,673	46

For the hotel properties acquired during the year ended December 31, 2017, the total revenues and net income from the date of acquisition through December 31, 2017 are included in the accompanying consolidated statements of operations and comprehensive income as follows (in thousands):



	For the year ended December 31, 2017
Revenue	$	260,020
Net income	$	14,994

The following table presents the costs that were incurred in connection with the Mergers (in thousands):



	For the year ended December 31,
	2018			2017
Transaction costs	$	(487	)	$	38,391
Integration costs	2,050			5,696
	$	1,563		$	44,087

The transaction costs primarily related to transfer taxes, including any refund of transfer taxes, and financial advisory, legal, and other professional service fees in connection with the Mergers. The integration costs primarily related to professional fees and employee-related costs, including compensation for transition employees. The merger-related costs noted above were expensed to transaction costs in the accompanying consolidated statements of operations and comprehensive income. There were no merger-related costs incurred during the year ended December 31, 2019.

The following unaudited condensed pro forma financial information presents the results of operations as if the Mergers had taken place on January 1, 2016. The unaudited condensed pro forma financial information is not necessarily indicative of what the actual results of operations of the Company would have been assuming the Mergers had taken place on January 1, 2016, nor is it indicative of the results of operations for future periods. The unaudited condensed pro forma financial information is as follows (in thousands):



	For the year ended December 31, 2017
	(unaudited)
Revenue	$	1,893,899
Net income attributable to common shareholders	$	110,231
Net income per share attributable to common shareholders - basic	$	0.63
Net income per share attributable to common shareholders - diluted	$	0.63
Weighted-average number of shares outstanding - basic	174,142,918
Weighted-average number of shares outstanding - diluted	174,220,129

Investment in Hotel Properties

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Investment in Hotel Properties

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



	December 31, 2019			December 31, 2018
Land and improvements	$	1,088,436		$	1,209,416
Buildings and improvements	4,039,012			4,694,490
Furniture, fixtures and equipment	685,699			813,797
	5,813,147			6,717,703
Accumulated depreciation	(1,198,181		)	(1,339,052		)
Investment in hotel properties, net	$	4,614,966		$	5,378,651

For the years ended December 31, 2019, 2018 and 2017, the Company recognized depreciation expense related to its investment in hotel properties of approximately $209.6 million, $233.8 million and $182.0 million, respectively.

Impairment

During the year ended December 31, 2019, the Company recorded an impairment loss of $13.5 million related to two hotel properties. The Company evaluated the recoverability of the carrying value of the hotels due to adverse changes in the operating performance of the hotels. Based on an analysis of the estimated undiscounted net cash flows, the Company concluded that the carrying value of the hotels was not recoverable. The Company estimated the fair value of the hotels using a weighted valuation approach considering room revenue multiples and comparable sales adjusted for capital expenditures. The valuation approach included significant unobservable inputs, including revenue growth projections and prevailing market multiples, from third party sources. There were no impairment losses recorded during the years ended December 31, 2018 or 2017.

Investment in Unconsolidated Joint Ventures (Notes)

12 Months Ended

Dec. 31, 2019

Investment in Unconsolidated Joint Ventures [Abstract]

Equity Method Investments and Joint Ventures Disclosure [Text Block]

Investment in Unconsolidated Joint Ventures

As of December 31, 2019 and 2018, the Company owned 50% interests in joint ventures that owned two hotel properties. As of December 31, 2018, the Company also owned 50% interests in joint ventures that were associated with two resort hotel properties owned by the Company in Myrtle Beach, SC. In June 2019, the Company sold the two hotels and the joint ventures sold their assets. The Company recorded a loss of $2.1 million as a result of the joint ventures' sale of their assets, which is included in equity in (loss) income of unconsolidated entities in the accompanying consolidated statements of operations. Refer to Note 7, Sale of Hotel Properties, for more information regarding the sale of the hotels.

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 (loss) income 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 December 31, 2019 and 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):



	December 31, 2019			December 31, 2018
Equity basis of the joint venture investments	$	(4,236	)	$	117
Cost of the joint venture investments in excess of the joint venture book value	19,407			22,162
Investment in unconsolidated joint ventures	$	15,171		$	22,279

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



	For the year ended December 31,
	2019			2018			2017
Operating income	$	1,667		$	2,105		$	623
Depreciation of cost in excess of book value	(1,265		)	(1,469		)	(490		)
Loss on sale	(2,075		)	—			—
Equity in (loss) income from unconsolidated joint ventures	$	(1,673	)	$	636		$	133

Intangible Assets (Notes)

12 Months Ended

Dec. 31, 2019

Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

Intangible Assets

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



	December 31, 2019							December 31, 2018
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Below market ground leases (1)	$	—	$	—		$	—	$	50,267	$	(3,495	)	$	46,772
Advanced bookings	1,902		(1,902		)	—		1,902		(1,268		)	634
Other intangible assets (2)	1,100		(1,100		)	—		7,500		(2,458		)	5,042
Intangible assets, net	$	3,002	$	(3,002	)	$	—	$	59,669	$	(7,221	)	$	52,448


(1)	As mentioned in Note 2 Summary of Significant Accounting Policies, the Company adopted ASU 2016-02, Leases (Topic 842) on January 1, 2019. Upon adoption of this standard, 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.


(2)	In June 2019, the Company sold two hotels located in Myrtle Beach, South Carolina. As a result of the sale, the Company wrote off $4.5 million of net intangible assets.

For the years ended December 31, 2019, 2018 and 2017, the Company recognized amortization expense related to its intangible assets of approximately $1.1 million, $10.2 million and $5.7 million, respectively.

Revenue (Notes)

12 Months Ended

Dec. 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 year ended December 31, 2019
	Room Revenue		Food and Beverage Revenue		Other Revenue		Total Revenue
Northern California	$	201,667	$	19,752	$	5,875	$	227,294
Southern California	126,959		15,306		10,030		152,295
New York City	130,702		16,410		4,759		151,871
South Florida	117,252		19,720		8,112		145,084
Austin	76,438		9,453		3,772		89,663
Chicago	70,469		13,102		2,139		85,710
Denver	55,063		12,224		1,351		68,638
Houston	55,955		3,763		4,355		64,073
Washington, DC	59,257		1,703		2,343		63,303
Louisville	40,627		18,246		2,373		61,246
Other	382,696		47,820		26,499		457,015
Total	$	1,317,085	$	177,499	$	71,608	$	1,566,192



	For the year ended December 31, 2018
	Room Revenue		Food and Beverage Revenue		Other Revenue		Total Revenue
Northern California	$	233,394	$	20,872	$	7,572	$	261,838
South Florida	133,527		20,547		7,272		161,346
Southern California	129,634		16,662		8,846		155,142
New York City	133,728		16,633		4,197		154,558
Austin	84,183		9,382		3,662		97,227
Chicago	73,497		13,106		2,029		88,632
Denver	69,603		12,596		1,291		83,490
Washington, DC	66,130		2,460		2,370		70,960
Houston	61,811		3,789		4,337		69,937
Tampa	38,169		17,296		9,108		64,573
Other	449,371		72,175		31,975		553,521
Total	$	1,473,047	$	205,518	$	82,659	$	1,761,224



	For the year ended December 31, 2017
	Room Revenue		Food and Beverage Revenue		Other Revenue		Total Revenue
Northern California	$	143,717	$	11,064	$	3,902	$	158,683
South Florida	97,734		14,924		4,890		117,548
New York City	101,544		9,143		3,120		113,807
Austin	81,370		9,007		2,894		93,271
Southern California	77,617		8,693		4,132		90,442
Denver	72,781		13,185		1,441		87,407
Chicago	70,119		13,575		1,684		85,378
Washington, DC	68,795		3,208		2,449		74,452
Houston	58,333		3,033		3,140		64,506
Louisville	43,654		14,890		2,428		60,972
Other	331,218		56,950		21,627		409,795
Total	$	1,146,882	$	157,672	$	51,707	$	1,356,261

Sale of Hotel Properties

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Disposal of Hotel Properties

Sale of Hotel Properties

During the year ended December 31, 2019, the Company sold 47 hotel properties in five separate transactions for a total sales price of approximately $721.0 million. In connection with these transactions, the Company recorded an aggregate $9.3 million net loss on sale, which is included in (loss) gain on sale of hotel properties, net, in the accompanying consolidated statement of operations and comprehensive income.

On June 25, 2019, the Company sold a portfolio of 21 hotels for $311.9 million. In connection with this transaction, the Company recorded a gain on sale of $44.7 million.

On June 27, 2019, the Company sold two resort hotels in Myrtle Beach, South Carolina for $153.3 million. In connection with this transaction, the Company recorded a loss on sale of $21.5 million.

On August 14, 2019, the Company sold a portfolio of 18 hotels for $175.4 million. In connection with this transaction, the Company recorded a loss on sale of $49.2 million.

On September 12, 2019, the Company sold a hotel in Columbia, Maryland for $12.7 million. In connection with this transaction, the Company recorded a gain on sale of $0.3 million.

On November 22, 2019, the Company sold a portfolio of five hotels for $67.6 million. In connection with this transaction, the Company recorded a gain on sale of $16.4 million.

The following table discloses the hotel properties that were sold during the year ended December 31, 2019:



Hotel Property Name	Location	Sale Date	Rooms
Courtyard Boulder Longmont	Longmont, CO	June 25, 2019	78
Courtyard Salt Lake City Airport	Salt Lake City, UT	June 25, 2019	154
Courtyard Fort Lauderdale SW Miramar	Miramar, FL	June 25, 2019	128
Courtyard Austin Airport	Austin, TX	June 25, 2019	150
Fairfield Inn & Suites San Antonio Downtown Market	San Antonio, TX	June 25, 2019	110
Hampton Inn & Suites Clearwater St. Petersburg	Clearwater, FL	June 25, 2019	128
Hampton Inn Fort Walton Beach	Fort Walton, FL	June 25, 2019	100
Hampton Inn & Suites Denver Tech Center	Denver, CO	June 25, 2019	123
Hampton Inn West Palm Beach Airport Central	West Palm Beach, FL	June 25, 2019	105



Hilton Garden Inn Bloomington	Bloomington, IN	June 25, 2019	168
Hilton Garden Inn West Palm Beach Airport	West Palm Beach, FL	June 25, 2019	100
Hilton Garden Inn Durham Raleigh Research Triangle Park	Durham, NC	June 25, 2019	177
Residence Inn Longmont Boulder	Longmont, CO	June 25, 2019	84
Residence Inn Detroit Novi	Novi, MI	June 25, 2019	107
Residence Inn Chicago Oak Brook	Oak Brook, IL	June 25, 2019	156
Residence Inn Fort Lauderdale Plantation	Plantation, FL	June 25, 2019	138
Residence Inn Salt Lake City Airport	Salt Lake City, UT	June 25, 2019	104
Residence Inn San Antonio Downtown Market Square	San Antonio, TX	June 25, 2019	95
Residence Inn Fort Lauderdale SW Miramar	Miramar, FL	June 25, 2019	130
Residence Inn Silver Spring	Silver Spring, MD	June 25, 2019	130
SpringHill Suites Boulder Longmont	Longmont, CO	June 25, 2019	90
Embassy Suites Myrtle Beach Oceanfront Resort	Myrtle Beach, SC	June 27, 2019	255
Hilton Myrtle Beach Resort	Myrtle Beach, SC	June 27, 2019	385
Courtyard Austin Northwest Arboretum	Austin, TX	August 14, 2019	102
Courtyard Denver West Golden	Golden, CO	August 14, 2019	110
Courtyard Boulder Louisville	Louisville, CO	August 14, 2019	154
Courtyard Louisville Northeast	Louisville, KY	August 14, 2019	114
Courtyard South Bend Mishawaka	Mishawaka, IN	August 14, 2019	78
Hampton Inn Houston Galleria	Houston, TX	August 14, 2019	176
Hyatt House Houston Galleria	Houston, TX	August 14, 2019	147
Hyatt House Austin Arboretum	Austin, TX	August 14, 2019	131
Hyatt House Dallas Lincoln Park	Dallas, TX	August 14, 2019	155
Hyatt House Dallas Uptown	Dallas, TX	August 14, 2019	141
Residence Inn Austin Northwest Arboretum	Austin, TX	August 14, 2019	84
Residence Inn Austin North Parmer Lane	Austin, TX	August 14, 2019	88
Residence Inn Denver West Golden	Golden, CO	August 14, 2019	88
Residence Inn Boulder Louisville	Louisville, CO	August 14, 2019	88
Residence Inn Louisville Northeast	Louisville, KY	August 14, 2019	102
SpringHill Suites Austin North Parmer Lane	Austin, TX	August 14, 2019	132
SpringHill Suites Louisville Hurstbourne North	Louisville, KY	August 14, 2019	142
SpringHill Suites South Bend Mishawaka	Mishawaka, IN	August 14, 2019	87
Residence Inn Columbia	Columbia, MD	September 12, 2019	108
Courtyard Austin South	Austin, TX	November 22, 2019	110
Fairfield Inn & Suites Austin South Airport	Austin, TX	November 22, 2019	63
Marriott Austin South	Austin, TX	November 22, 2019	211
Residence Inn Austin South	Austin, TX	November 22, 2019	66
SpringHill Suites Austin South	Austin, TX	November 22, 2019	152
		Total	6,024

During the year ended December 31, 2018, the Company sold seven hotel properties and a parcel of land for a total sales price of approximately $530.9 million. In connection with these transactions, the Company recorded an aggregate $30.3 million net gain on sale, which is included in (loss) gain on sale of hotel properties, net, in the accompanying consolidated statement of operations and comprehensive income. The gain on sale includes a gain on extinguishment of indebtedness of $5.1 million associated with two of the hotel properties that were sold.

The following table discloses the hotel properties that were sold during the year ended December 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
Embassy Suites Napa Valley	Napa, CA	July 13, 2018	205
DoubleTree Hotel Columbia	Columbia, MD	August 7, 2018	152
The Vinoy Renaissance St. Petersburg Resort & Golf Club	St. Petersburg, FL	August 28, 2018	362
DoubleTree by Hilton Burlington Vermont	Burlington, VT	September 27, 2018	309
Holiday Inn San Francisco - Fisherman's Wharf (1)	San Francisco, CA	October 15, 2018	585
		Total	2,206

(1)

The Company's interests in the Holiday Inn San Francisco - Fisherman's Wharf consisted of two separate buildings, the 342-room Columbus Street building and the 243-room Annex building. On October 31, 2018, the ground lease under the Columbus Street building expired and the building was transferred to the lessor in accordance with the ground lease. On October 15, 2018, the Company separately sold the remaining 243-room Annex building for $75.3 million. In connection with the sale, the Company transferred its purchase option on the land underlying the Annex building ground lease to the buyer. The proceeds to the Company as a result of the sale were approximately $30.4 million.

During the year ended December 31, 2017, the Company sold one hotel property for a sale price of approximately $170.0 million. In conjunction with this transaction, the Company recorded a $0.6 million loss on sale which is included in (loss) gain on sale of hotel properties, net, in the accompanying consolidated statement of operations and comprehensive income.

The following table discloses the hotel property that was sold during the year ended December 31, 2017:



Hotel Property Name	Location	Sale Date	Rooms
The Fairmont Copley Plaza	Boston, MA	December 14, 2017	383
		Total	383

Investment in Loan

In November 2009, the Company purchased a mortgage loan that was collateralized by one hotel property. The loan matured on September 6, 2017. At the date of maturity, the Company's investment in loan receivable balance was $10.1 million and the Company received $12.8 million in net proceeds from the debtor. Accordingly, the Company recognized a gain on the settlement of the loan of approximately $2.7 million.

Debt

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Debt

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



	December 31, 2019		December 31, 2018
Senior Notes	$	500,484	$	505,322
Revolver and Term Loans, net	1,168,793		1,169,165
Mortgage loans, net	526,430		528,189
Debt, net	$	2,195,707	$	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
	Interest Rate	Maturity Date	December 31, 2019		December 31, 2018
Senior unsecured notes (1) (2) (3)	6.00%	June 2025	$	500,484	$	505,322


(1)	Requires payments of interest only through maturity.


(2)	The senior unsecured notes include $25.6 million and $30.3 million at December 31, 2019 and 2018, respectively, related to fair value adjustments on the Senior 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 contain certain financial covenants relating to the Company's total leverage ratio, secured leverage ratio, and interest coverage ratio. If an event of default exists, the Company is not permitted to (i) incur additional indebtedness, except to refinance maturing debt with replacement debt, as defined under our indentures; (ii) pay dividends in excess of the minimum distributions required to qualify as a REIT; (iii) repurchase capital stock; or (iv) merge. As of December 31, 2019 and 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 May 18, 2024 and a one year extension option if certain conditions are satisfied (the "Revolver");


•	$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");


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


•	$400.0 million term loan with a scheduled maturity date of May 18, 2025 (the "$400 Million Term Loan Maturing 2025").

The $150 Million Term Loan Maturing 2022, the $400 Million Term Loan Maturing 2023, the $225 Million Term Loan Maturing 2023, and the $400 Million Term Loan Maturing 2025 are collectively the "Term Loans". The credit agreements contain certain financial covenants relating to the Company’s maximum leverage ratio, minimum fixed charge coverage ratio, maximum secured indebtedness, maximum unencumbered leverage ratio and minimum unsecured interest coverage ratio. If an event of default exists, the Company is not permitted to make distributions to shareholders, other than those required to qualify for and maintain REIT status. As of December 31, 2019 and 2018, the Company was in compliance with all financial covenants.

The borrowings under the Revolver and Term Loans bear interest at variable rates equal to the London InterBank Offered Rate (“LIBOR”) plus an applicable margin. The margin ranges from 1.35% to 2.20%, depending on the Company’s leverage ratio, as calculated under the terms of each facility. The Company incurs an unused facility fee on the Revolver of between 0.20% and 0.25%, based on the amount by which the maximum borrowing amount exceeds the total principal balance of the outstanding borrowings.

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



			Outstanding Borrowings at
	Interest Rate at December 31, 2019 (1)	Maturity Date	December 31, 2019			December 31, 2018
Revolver (2)	3.21%	May 2024	$	—		$	—
$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
$400 Million Term Loan Maturing 2025	2.92%	May 2025	400,000			400,000
			1,175,000			1,175,000
Deferred financing costs, net (3)			(6,207		)	(5,835		)
Total Revolver and Term Loans, net			$	1,168,793		$	1,169,165


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


(2)	At both December 31, 2019 and 2018, there was $600.0 million of capacity on the Revolver. The Company has the ability to further increase the capacity on the Revolver to $750.0 million, subject to certain lender requirements. The Company also has the ability to extend the maturity date for an additional one year period ending May 2025 if certain conditions are satisfied.


(3)	Excludes $3.4 million and $1.5 million as of December 31, 2019 and 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):



					Principal balance at
	Number of Assets Encumbered	Interest Rate at December 31, 2019 (1)	Maturity Date		December 31, 2019			December 31, 2018
Mortgage loan (2)	7	3.33%	April 2022	(6)	$	200,000		$	—
Mortgage loan (3)	1	5.25%	June 2022		31,215			32,066
Mortgage loan (4)	3	4.95%	October 2022		89,299			91,737
Mortgage loan (5)	1	4.94%	October 2022		28,785			29,569
Mortgage loan (2)	4	3.38%	April 2024	(7)	85,000			85,000
Mortgage loan (2)	3	2.88%	April 2024	(8)	96,000			—
Mortgage loan	—	—	—	(9)	—			140,250
Mortgage loan	—	—	—	(10)	—			150,000
	19				530,299			528,622
Deferred financing costs, net					(3,869		)	(433		)
Total mortgage loans, net					$	526,430		$	528,189


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


(2)	The hotels encumbered by the mortgage loan are cross-collateralized. Requires payments of interest only through maturity.


(3)	Includes $0.5 million and $0.6 million at December 31, 2019 and 2018, respectively, related to a fair value adjustment on the mortgage loan that was assumed in conjunction with an acquisition.


(4)	Includes $1.4 million and $1.9 million at December 31, 2019 and 2018, respectively, related to fair value adjustments on the mortgage loans that were assumed in the Mergers.


(5)	Includes $0.4 million and $0.6 million at December 31, 2019 and 2018, respectively, related to a fair value adjustment on the mortgage loan that was assumed in the Mergers.


(6)	In April 2019, the Company entered into a new mortgage loan that bears interest at LIBOR + 1.52% and provides two one year extension options.


(7)	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.


(8)	In April 2019, the Company entered into a new mortgage loan that bears interest at LIBOR + 1.60% and provides two one year extension options.


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


(10)	In April 2019, the Company paid off the mortgage loan in full.

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

Interest Expense

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



	For the year ended December 31,
	2019		2018		2017
Senior Notes	$	23,793	$	28,428	$	15,918
Revolver and Term Loans	42,272		43,458		39,262
Mortgage loans	20,754		26,253		19,643
Amortization of deferred financing costs	4,100		3,504		3,499
Undesignated interest rate swaps	376		—		—
Total interest expense	$	91,295	$	101,643	$	78,322

Future Minimum Principal Payments

As of December 31, 2019, the future minimum principal payments were as follows (in thousands):



2020	$	3,098
2021	3,557
2022	490,386
2023	625,000
2024	181,000
Thereafter	874,888
Total (1)	$	2,177,929

(1)

Excludes a total of $27.9 million related to fair value adjustments on debt.

Derivatives and Hedging

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Hedging

The Company's interest rate swaps consisted of the following (in thousands):



			Notional value at				Fair value at
Hedge type	Interest rate	Maturity	December 31, 2019		December 31, 2018		December 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		607			3,072
Swap-cash flow	1.20%	April 2021	100,000		100,000		538			2,955
Swap-cash flow	2.15%	April 2021	75,000		75,000		(590		)	539
Swap-cash flow	1.91%	April 2021	75,000		75,000		(337		)	967
Swap-cash flow	1.61%	June 2021	50,000		50,000		(32		)	1,057
Swap-cash flow	1.56%	June 2021	50,000		50,000		13			1,129
Swap-cash flow	1.71%	June 2021	50,000		50,000		(109		)	934
Swap-cash flow	2.29%	December 2022	200,000		200,000		(4,587		)	938
Swap-cash flow	2.29%	December 2022	125,000		125,000		(2,859		)	607
Swap-cash flow	2.38%	December 2022	200,000		200,000		(5,155		)	259
Swap-cash flow	2.38%	December 2022	100,000		100,000		(2,574		)	139
Swap-cash flow (2)	2.75%	November 2023	100,000		100,000		(3,590		)	(1,020		)
Swap-cash flow (3)	2.51%	December 2023	75,000		—		(2,120		)	—
Swap-cash flow (3)	2.39%	December 2023	75,000		—		(1,858		)	—
Swap-cash flow	1.35%	September 2021	49,000		—		181			—
Swap-cash flow	1.28%	September 2022	100,000		—		690			—
Swap-cash flow (4)	1.24%	September 2025	150,000		—		2,268			—
			$	1,674,000	$	2,083,250	$	(19,514	)	$	16,195

(1)

During the year ended December 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 (loss) income to interest expense in the consolidated statements of operations and comprehensive income.


(2)	Effective in November 2020.


(3)	Effective in January 2021.


(4)	Effective in September 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	December 31, 2019		December 31, 2018		December 31, 2019			December 31, 2018
Interest rate swap (1)	1.80%	September 2020	$	30,195	$	—	$	(34	)	$	—
Interest rate swap (1)	1.80%	September 2020	75,030		—		(86		)	—
Interest rate swap (1)	1.80%	September 2020	32,025		—		(37		)	—
Interest rate swap (1)	1.81%	October 2020	142,500		—		(219		)	—
			$	279,750	$	—	$	(376	)	$	—


(1)	During the year ended December 31, 2019, the Company discontinued accounting for these interest rate swaps as cash flow hedges. The Company recognized 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 December 31, 2019 and 2018, the aggregate fair value of the interest rate swap assets of $4.3 million and $17.2 million, respectively, was included in prepaid expense and other assets in the accompanying consolidated balance sheets. As of December 31, 2019 and 2018, the aggregate fair value of the interest rate swap liabilities of $24.2 million and $1.0 million, respectively, was included in accounts payable and other liabilities in the accompanying consolidated balance sheets.

As of December 31, 2019 there was approximately $19.5 million of unrealized losses included in accumulated other comprehensive (loss) income 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 (loss) 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 years ended December 31, 2019 and 2018. For the year ended December 31, 2019 and 2018, approximately $5.4 million and $3.7 million, respectively, of the amounts included in accumulated other comprehensive (loss) income were reclassified into interest expense. Approximately $4.1 million of the unrealized losses included in accumulated other comprehensive (loss) income at December 31, 2019 is expected to be reclassified into interest expense within the next 12 months.

Fair Value

12 Months Ended

Dec. 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 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):



	December 31, 2019				December 31, 2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
Senior Notes	$	500,484	$	497,835	$	505,322	$	492,554
Revolver and Term Loans, net	1,168,793		1,176,068		1,169,165		1,175,000
Mortgage loans, net	526,430		532,249		528,189		528,404
Debt, net	$	2,195,707	$	2,206,152	$	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 December 31, 2019 (in thousands):



	Fair Value at December 31, 2019
	Level 1		Level 2			Level 3		Total
Interest rate swap asset	$	—	$	4,297		$	—	$	4,297
Interest rate swap liability	—		(24,187		)	—		(24,187		)
Total	$	—	$	(19,890	)	$	—	$	(19,890	)

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 December 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.

Non-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 non-recurring basis as of December 31, 2019 (in thousands):



	Fair Value at December 31, 2019
	Level 1		Level 2		Level 3		Total
Impaired hotel properties	$	—	$	—	$	6,019	$	6,019

During the year ended December 31, 2019, the Company recorded an impairment loss of $13.5 million related to two hotel properties. The Company estimated the fair value of the hotels using a weighted valuation approach considering room revenue

multiples and comparable sales. The valuation approach included significant unobservable inputs, including revenue growth projections and prevailing market multiples, from third party sources.

- 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

Commitments and Contingencies

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Operating Leases

As of December 31, 2019, 12 of Company's hotel properties were subject to ground lease agreements that cover the land underlying the respective hotels. The ground leases are classified as operating leases. The total ground lease expense was $15.7 million for the year ended December 31, 2019, which consisted of $11.6 million of fixed lease expense and $4.1 million of variable lease expense. The total ground lease expense was $22.2 million and $11.1 million for the years ended December 31, 2018 and December 31, 2017, respectively. The total ground lease expense is included in property tax, insurance and other in the accompanying consolidated statements of operations and comprehensive income.

The Company's ground leases consisted of the following (in millions):



			Ground Lease Expense
			For the year ended December 31,
Hotel Property Name	Initial Term Expiration	Extension Term(s) Expiration	2019		2018		2017
Holiday Inn San Francisco Fisherman's Wharf (1)(2)	2018	—	$	—	$	4.6	$	1.6
Wyndham Boston Beacon Hill	2028	—	0.9		0.9		0.3
Wyndham San Diego Bayside	2029	—	4.8		4.8		1.5
DoubleTree Suites by Hilton Orlando Lake Buena Vista	2032	2057	0.9		0.8		0.2
Residence Inn Palo Alto Los Altos	2033	—	0.1		0.1		0.1
Wyndham Pittsburgh University Center	2038	2083	0.7		0.8		0.1
DoubleTree by Hilton Burlington Vermont (3)	2051	—	—		0.1		0.1
Marriott Louisville Downtown	2053	2153 (4)	—		—		—
Embassy Suites San Francisco Airport Waterfront	2059	—	2.4		2.3		0.7
Wyndham New Orleans French Quarter	2065	—	0.5		0.5		0.1
The Vinoy Renaissance St. Petersburg Resort & Golf Club (5)	2090	—	—		1.9		1.0
Courtyard Charleston Historic District	2096	—	1.0		1.0		1.0
Courtyard Austin Downtown Convention Center and Residence Inn Downtown Convention Center	2100	—	0.8		0.9		0.9
Courtyard Waikiki Beach	2112	—	3.6		3.5		3.5
			$	15.7	$	22.2	$	11.1

(1) This hotel property was sold on October 15, 2018.

(2) This lease covered only a portion of the hotel property site.

(3) This hotel property was sold on September 27, 2018.

(4) The lease may be extended up to four twenty-five year terms at the Company's option.

(5) This hotel property was sold on August 28, 2018.

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



	December 31, 2019
2020	$	11,141
2021	11,735
2022	10,124
2023	10,188
2024	10,215
Thereafter	544,201
Total future lease payments	597,604
Imputed interest	(476,450		)
Lease liabilities	$	121,154

The following table presents certain information related to the Company's operating leases as of December 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 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 December 31, 2019 and 2018, approximately $44.7 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 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.

The Company plans to vigorously defend the underlying claims and, if appropriate, IHG’s demand for indemnification.

Management Agreements

As of December 31, 2019, 103 of the Company's consolidated hotel properties were operated pursuant to long-term management agreements with initial terms ranging from 3 to 25 years, with 13 different management companies as noted in the table below. This number includes 37 consolidated hotel properties that receive the benefits of a franchise agreement pursuant to management agreements with Hilton, Hyatt, Marriott, or Wyndham.



Management Company		Number of Hotel Properties
Aimbridge Hospitality (1)		36
Crestline Hotels and Resorts		1
Davidson Hotels and Resorts		1
Hilton Management and affiliates		19
HEI Hotels and Resorts		1
Highgate Hotels		5
Hyatt Corporation and affiliates		11
InnVentures		3
Marriott International, Inc.		3
Sage Hospitality		4
Urgo Hotels		3
White Lodging Services		8
Wyndham		8
		103


(1)	Includes agreements entered into with Interstate Hotels and Resorts ("Interstate"). On October 25, 2019, Aimbridge Hospitality completed its merger with Interstate. The newly combined company will be positioned under the Aimbridge Hospitality name in the Americas and the Interstate brand will be utilized for international markets.

Each management company receives a base management fee between 1.75% and 3.5% of hotel revenues. Management agreements that include the benefits of a franchise agreement incur a base management fee 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.

The Wyndham management agreements guaranteed 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 recognized the net operating income guaranties as a reduction of Wyndham's contractual management and other fees. In September 2019, the Company entered into an agreement with Wyndham to terminate the management agreements and the related net operating income guarantee effective December 31, 2019. In addition, the Company entered into transitional franchise and management agreements effective January 1, 2020 through December 31, 2020, with an extension option through December 31, 2021. The transitional franchise and management fees are 3% and 2%, respectively, of hotel revenues. In December 2019, the Company received a lump sum termination payment of $35.0 million from Wyndham, which is included in advance deposits and deferred revenue in the accompanying consolidated balance sheet. Wyndham also forgave the $4.6 million remaining balance of a key money loan. The Company will recognize the $35.0 million termination payment and $4.6 million key money loan forgiveness over the estimated term of the transitional agreements beginning January 1, 2020 as a reduction to management and franchise fee expense in the consolidated statements of operations and comprehensive income.

Management fees are included in management and franchise fee expense in the accompanying consolidated statements of operations and comprehensive income. For the years ended December 31, 2019, 2018 and 2017, the Company incurred management fee expense, including amortization of deferred management fees, of approximately $45.5 million, $57.3 million and $48.9 million, respectively.

Franchise Agreements

As of December 31, 2019, 65 of the Company's consolidated hotel properties were operated under franchise agreements with initial terms ranging from 10 to 30 years. This number excludes 37 consolidated hotel properties that receive the benefits of a franchise agreement pursuant to management agreements with Hilton, Hyatt, Marriott, or Wyndham. In addition, The Knickerbocker is not operated with a hotel brand so the hotel 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 between 3.0% and 6.0% of room revenue, plus additional fees for marketing, central reservation systems and other

franchisor costs between 1.0% and 4.3% of room revenue. Certain hotels are also charged a royalty fee of between 1.5% and 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 years ended December 31, 2019, 2018 and 2017, the Company incurred franchise fee expense of approximately $75.3 million, $80.8 million and $73.7 million, respectively.

Equity	12 Months Ended
Equity	Dec. 31, 2019
Equity [Abstract]
Equity	Equity Common Shares of Beneficial Interest Under the declaration of trust for the Company, there are 450,000,000 Common Shares authorized for issuance. During the years ended December 31, 2017 and 2018, the Company repurchased and retired 122,508 Common Shares and 1,162,557 Common Shares, respectively, for approximately $2.6 million and $21.8 million, respectively, under a share repurchase program that expired February 28, 2019. 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 29, 2020 (the "2019 Share Repurchase Program"). During the year ended December 31, 2019, the Company repurchased and retired 4,575,170 common shares for approximately $77.8 million, of which $10.3 million was repurchased under a share repurchase program authorized by the Company's board of trustees in 2015, which expired in February 2019, and $67.5 million was repurchased under the 2019 Share Repurchase Program. As of December 31, 2019, the 2019 Share Repurchase Program had a remaining capacity of $182.5 million. The 2019 Share Repurchase Program expires pursuant to its terms on February 29, 2020. On February 14, 2020, 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, 2020 to February 28, 2021. During each of the years ended December 31, 2019, 2018 and 2017, the Company declared a cash dividend of $1.32 per Common Share. Preferred Shares of Beneficial Interest Under the declaration of trust for the Company, there are 50,000,000 preferred shares authorized for issuance. 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, to former FelCor preferred stockholders as consideration in the REIT Merger. 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. During the years ended December 31, 2019, 2018 and 2017, the Company declared a cash dividend of $1.95, $1.95, and $0.975, respectively, on each Series A Preferred Share. 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. As of December 31, 2019, the Operating Partnership had 170,624,989 OP units outstanding, of which 99.5% of the outstanding OP units were owned by the Company and its subsidiaries, and the noncontrolling 0.5% ownership interest was owned by other limited partners. As of December 31, 2019, the limited partners owned 772,743 OP units. 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. 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

12 Months Ended

Dec. 31, 2019

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

Equity Incentive Plan

Pursuant to the terms of the RLJ Lodging Trust 2015 Equity Incentive Plan (the "2015 Plan"), the Company may issue share-based awards to officers, employees, non-employee trustees and other eligible persons under 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 is as follows:



	2019				2018				2017
	Number of Shares		Weighted-Average Grant Date Fair Value		Number of Shares		Weighted-Average Grant Date Fair Value		Number of Shares		Weighted-Average Grant Date Fair Value
Unvested at January 1,	740,792		$	21.89	700,325		$	22.88	649,447		$	23.00
Granted	530,436		18.69		592,673		21.42		425,076		23.15
Vested	(312,131	)	21.63		(438,881	)	22.92		(363,160	)	23.41
Forfeited	(18,895	)	20.03		(113,325	)	21.58		(11,038	)	23.24
Unvested at December 31,	940,202		$	20.21	740,792		$	21.89	700,325		$	22.88

For the years ended December 31, 2019, 2018 and 2017, the Company recognized approximately $8.6 million, $10.2 million and $8.9 million, respectively, of share-based compensation expense related to restricted share awards. The share-based compensation expense for the year ended December 31, 2018 includes the accelerated vesting of restricted share awards as a result of the Company's President and Chief Executive Officer retiring in August 2018.

As of December 31, 2019, there was $14.0 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 2.3 years. The total fair value of the shares vested (calculated as the number of shares multiplied by the vesting date share price) during the years ended December 31, 2019, 2018 and 2017 was approximately $5.5 million, $9.5 million and $7.7 million, respectively.

Performance Units

From time to time, the Company may award performance units under the 2015 Plan as compensation to officers and employees. The performance units vest over a four years period, including three years of performance-based vesting (the “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 awards. If at the end of the 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 performance units measurement period. The fair value of the performance units is determined using a Monte Carlo simulation, and an expected term equal to the requisite service period for the awards of four years. The Company estimates 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.

A summary of the performance unit awards is as follows:



Date of Award	Number of Units Granted	Grant Date Fair Value	Conversion Range	Risk Free Interest Rate	Volatility
May 2016 (1)	280,000	$10.31	25% to 150%	1.05%	23.82%
February 2017	259,000	$14.93	25% to 150%	1.57%	25.73%
February 2018	264,000	$13.99	25% to 150%	2.42%	27.44%
February 2019	260,000	$19.16	25% to 200%	2.52%	27.19%

(1) In May 2019, following the end of the measurement period, the Company did not meet certain target criterion and no performance units were converted into restricted shares.

For the years ended December 31, 2019, 2018 and 2017, the Company recognized approximately $2.9 million, $2.1 million and $1.7 million, respectively, of share-based compensation expense related to the performance unit awards.

As of December 31, 2019, there was $5.2 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 2.3 years.

As of December 31, 2019, there were 1,398,533 Common Shares available for future grant under the 2015 Plan, which includes potential Common Shares that may convert from performance units if certain target criterion is met.

Earnings per Common Share

12 Months Ended

Dec. 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 years ended December 31, 2019, 2018 and 2017, 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 year ended December 31,
	2019			2018			2017
Numerator:
Net income attributable to RLJ	$	127,842		$	188,643		$	74,835
Less: Preferred dividends	(25,115		)	(25,115		)	(8,372		)
Less: Dividends paid on unvested restricted shares	(1,342		)	(1,181		)	(1,029		)
Less: Undistributed earnings attributable to unvested restricted shares	—			—			—
Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares	$	101,385		$	162,347		$	65,434

Denominator:
Weighted-average number of Common Shares - basic	171,287,086			174,225,130			140,616,838
Unvested restricted shares	101,390			91,275			77,211
Weighted-average number of Common Shares - diluted	171,388,476			174,316,405			140,694,049

Net income per share attributable to common shareholders - basic	$	0.59		$	0.93		$	0.47

Net income per share attributable to common shareholders - diluted	$	0.59		$	0.93		$	0.47

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

Current income tax expense represents the amounts expected to be reported on the Company’s income tax returns, and deferred tax expense or benefit represents the change in the net deferred tax assets and liabilities. The deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities as measured by the enacted tax rates that will be in effect when these differences reverse. A valuation allowance is recognized to reduce the deferred tax assets to the amount that is considered likely to be realized.

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 net rate is enacted. As a result of the reduction in the U.S. corporate income tax rate from 35% to 21% under the Tax Reform Act, the Company remeasured certain deferred tax assets and liabilities based on the rates at which they are expected to reverse.

The components of the income tax provision are as follows (in thousands):



	For the Years Ended December 31,
	2019			2018			2017
Current:
Federal	$	—		$	—		$	(67	)
State	(3,067		)	(2,209		)	(2,304		)
Deferred:
Federal	3,987			(4,867		)	(43,181		)
State	2,831			(1,717		)	3,434
Income tax benefit (expense)	$	3,751		$	(8,793	)	$	(42,118	)

The provision for income taxes is different from the amount of income tax expense that is determined by applying the applicable U.S. statutory federal income tax rate to pretax income as a result of the following differences (in thousands):



	For the Years Ended December 31,
	2019			2018			2017
Expected U.S. federal tax expense at statutory rate	$	(26,382	)	$	(41,864	)	$	(41,593	)
Tax impact of REIT election	24,129			35,058			33,236
Expected tax expense at TRS	(2,253		)	(6,806		)	(8,357		)
Change in valuation allowance	(297		)	542			366
State income tax expense, net of federal benefit	(2,367		)	(1,463		)	(1,388		)
Reassessment of acquired NOLs	9,973			—			—
Impact of rate change	332			(51		)	(31,667		)
Other permanent items	(117		)	(566		)	(513		)
Impact of provision to return/deferred adjustments	(1,520		)	(449		)	(559		)
Income tax benefit (expense)	$	3,751		$	(8,793	)	$	(42,118	)

As discussed in Note 12, Commitments and Contingencies, we terminated our agreements with Wyndham effective December 31, 2019. The termination triggered the reassessment of the utilization of NOLs acquired in the merger with FelCor. As a result, the Company recorded a deferred tax benefit during the year ended December 31, 2019 to recognize additional deferred tax assets related to NOLs that would have otherwise expired absent the termination.

Deferred income taxes represent the tax effect from continuing operations of the differences between the book and tax basis of the assets and liabilities. The deferred tax assets (liabilities) include the following (in thousands):



	December 31, 2019			December 31, 2018
Deferred tax liabilities:
Prepaid expenses	$	(1,496	)	$	(1,298	)
Intangible assets	—			(1,468		)
Deferred tax liabilities	$	(1,496	)	$	(2,766	)

Deferred tax assets:
Property and equipment	$	1,786		$	2,639
Incentive and vacation accrual	3,878			4,595
Deferred revenue - key money	994			1,037
Allowance for doubtful accounts	65			156
Partnership basis	(977		)	573
Contingent liability	—			298
Other	421			1,077
Other carryforwards	—			—
Net operating loss carryforwards	57,109			57,248
Federal historic tax credit	824			824
Wyndham guarantee	10,192			—
Valuation allowance	(21,349		)	(21,052		)
Deferred tax assets	$	52,943		$	47,395

Deferred tax assets are recognized only to the extent that it is more likely than not that they will be realized based on the 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 records a valuation allowance to reduce its deferred tax assets to the amount that is most likely to be utilized in future periods to offset taxable income. As of December 31, 2019 and 2018, the Company had a valuation allowance of approximately $21.3 million and $21.1 million, respectively, related to net operating loss ("NOL") carryforwards, historic tax credits, and other deferred tax assets of its TRSs. The Company considered all available evidence, both positive and negative, including cumulative income in recent years and its current forecast of future income in its analysis. While the Company believes its forecast of future income is reasonable, it is inherently uncertain. If the Company’s projections of future income are lower than expected, the Company may need to establish an additional valuation allowance.

The Company’s NOLs will begin to expire in 2024 for federal tax purposes and 2019 to 2039 for state tax purposes. Additionally, the annual utilization of these NOLs is limited pursuant to Section 382 of the Code. The Company's historic tax credits begin to expire in 2035. Additionally, the annual utilization of these tax credits is limited pursuant to Section 383 of the Code.

The Company is subject to examination by the U.S. Internal Revenue Service ("IRS") and various state and local jurisdictions. The tax years subject to examination vary by jurisdiction. With few exceptions, as of December 31, 2019, the Company is no longer subject to U.S. federal or state and local tax examinations by tax authorities for the tax years of 2014 and before.

The Company had no accruals for tax uncertainties as of December 31, 2019 and 2018.

Segment Information	12 Months Ended
Segment Information	Dec. 31, 2019
Segment Reporting [Abstract]
Segment Information	Segment Information The Company separately evaluates the performance of each of its hotel properties. However, because each of the hotels has similar economic characteristics, facilities, and services, the hotel properties have been aggregated into a single operating segment.

Supplemental Information to Statements of Cash Flows

12 Months Ended

Dec. 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 year ended December 31,
	2019			2018			2017
Reconciliation of cash, cash equivalents, and restricted cash reserves
Cash and cash equivalents	$	882,474		$	320,147		$	586,470
Restricted cash reserves	44,686			64,695			72,606
Cash, cash equivalents, and restricted cash reserves	$	927,160		$	384,842		$	659,076

Interest paid	$	97,259		$	114,280		$	65,211

Income taxes paid	$	4,090		$	1,836		$	1,176

Operating cash flow lease payments for operating leases	$	15,270

Supplemental investing and financing transactions
In conjunction with the sale of hotel properties, the Company recorded the following:
Sale of hotel properties	$	705,681		$	530,850		$	170,000
Escrow related to certain post-closing obligations	—			1,000			14,000
Purchase option for land subject to a ground lease	—			(44,831		)	—
Transaction costs	(10,482		)	(10,668		)	(4,564		)
Operating prorations	(9,329		)	(1,288		)	843
Proceeds from the sale of hotel properties, net	$	685,870		$	475,063		$	180,279

Supplemental non-cash transactions (1)
Change in fair market value of designated interest rate swaps	$	(33,459	)	$	7,349		$	13,748
Accrued capital expenditures	$	14,234		$	15,709		$	14,138
Distributions payable	$	64,165		$	65,557		$	65,284

(1) Refer to Note 3 for information related to the non-cash investing and financing activities associated with the merger with FelCor.

Quarterly Operating Results (unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Operating Results (unaudited)

Selected Quarterly Financial Data (unaudited)

The tables below set forth the Company's unaudited condensed consolidated quarterly financial data for the years ended December 31, 2019 and 2018 (in thousands, except share and per share data). In the opinion of management, all adjustments (consisting of normal recurring accruals) that are necessary for a fair presentation of the quarterly results have been reflected in the data. It is also management's opinion, however, that quarterly financial data for the hotel properties are not indicative of the financial results to be achieved in succeeding years or quarters. In order to obtain a more accurate indication of performance, one should review the financial and operating results, changes in shareholders' equity and cash flows for a period of several years.



	For the year ended December 31, 2019
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Total revenues	$	399,267	$	448,727	$	371,124	$	347,074
Net income	$	28,331	$	33,681	$	32,455	$	34,912
Net income attributable to common shareholders	$	20,974	$	27,165	$	26,184	$	28,404
Comprehensive income attributable to RLJ	$	10,867	$	11,799	$	26,784	$	43,836
Basic per share data (1):
Net income attributable to common shareholders	$	0.12	$	0.16	$	0.15	$	0.17
Diluted per share data (1):
Net income attributable to common shareholders	$	0.12	$	0.16	$	0.15	$	0.17
Basic weighted-average Common Shares outstanding	172,796,998		172,661,878		170,495,699		169,241,536
Diluted weighted-average Common Shares outstanding	172,856,230		172,766,091		170,600,787		169,376,667


(1)	The basic and diluted net income per share attributable to common shareholders are calculated independently for each of the quarters presented. Accordingly, the sum of the quarterly amounts may not agree with the total for the year presented.



	For the year ended December 31, 2018
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Total revenues	$	429,593	$	484,691	$	447,042	$	399,898
Net income	$	23,894	$	64,393	$	74,657	$	27,918
Net income attributable to common shareholders	$	17,410	$	57,435	$	67,696	$	20,987
Comprehensive income attributable to RLJ	$	41,546	$	70,650	$	78,650	$	5,146
Basic per share data (1):
Net income attributable to common shareholders	$	0.10	$	0.33	$	0.39	$	0.12
Diluted per share data (1):
Net income attributable to common shareholders	$	0.10	$	0.33	$	0.39	$	0.12
Basic weighted-average Common Shares outstanding	174,193,671		174,238,854		174,326,198		174,141,263
Diluted weighted-average Common Shares outstanding	174,268,815		174,364,547		174,479,341		174,194,141

(1)

The basic and diluted net income per share attributable to common shareholders are calculated independently for each of the quarters presented. Accordingly, the sum of the quarterly amounts may not agree with the total for the year presented.

Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation



		Initial Costs		Costs Capitalized Subsequent to Acquisition	Gross Amount at December 31, 2019
Description	Debt	Land & Improvements	Building & Improvements	Land, Building & Improvements	Land & Improvements	Buildings & Improvements	Total (1)	Accumulated Depreciation	Date Acquired	Depreciation Life
Marriott Denver South @ Park Meadows	—	5,385	39,488	3,863	5,353	43,383	48,736	14,629	2006	15 - 40 years
Marriott Louisville Downtown	—	—	89,541	24,860	39	114,362	114,401	32,920	2006	15 - 40 years
Marriott Chicago Midway	—	4,464	32,736	2,562	4,496	35,266	39,762	11,918	2006	15 - 40 years
Renaissance Boulder Flatiron Hotel	—	4,440	32,557	3,196	4,719	35,474	40,193	11,773	2006	15 - 40 years
Renaissance Fort Lauderdale Plantation Hotel	—	4,842	35,517	7,243	4,876	42,726	47,602	12,654	2006	15 - 40 years
Courtyard Chicago Downtown Magnificent Mile	31,000	8,140	59,696	8,987	8,142	68,681	76,823	22,032	2006	15 - 40 years
Courtyard Chicago Southeast Hammond	—	1,038	7,616	2,066	1,080	9,640	10,720	3,181	2006	15 - 40 years
Courtyard Indianapolis @ The Capitol	—	2,482	18,207	3,942	2,577	22,054	24,631	6,592	2006	15 - 40 years
Courtyard Midway Airport	—	2,172	15,927	2,671	2,197	18,573	20,770	6,862	2006	15 - 40 years
Courtyard Houston Sugarland	—	617	2,331	2,936	731	5,153	5,884	3,390	2006	15 - 40 years
Courtyard Austin Downtown Convention Center	—	6,049	44,361	5,005	6,049	49,366	55,415	14,130	2007	15 - 40 years
Residence Inn Indianapolis Fishers	—	998	7,322	1,059	1,048	8,331	9,379	2,731	2006	15 - 40 years
Residence Inn Chicago Southeast Hammond	—	980	7,190	1,228	1,043	8,355	9,398	2,672	2006	15 - 40 years
Residence Inn Houston By The Galleria	—	2,665	19,549	2,959	2,665	22,508	25,173	7,669	2006	15 - 40 years
Residence Inn Indianapolis Downtown On The Canal	—	2,670	19,588	3,131	2,670	22,719	25,389	7,185	2006	15 - 40 years
Residence Inn Merrillville	—	595	4,372	1,321	595	5,693	6,288	2,003	2006	15 - 40 years
Residence Inn Houston Sugarland	—	500	2,373	3,151	500	5,524	6,024	3,491	2006	15 - 40 years
Residence Inn Chicago Naperville	—	1,923	14,101	1,078	1,923	15,179	17,102	5,150	2006	15 - 40 years
Residence Inn Louisville Downtown	—	1,815	13,308	1,852	1,815	15,160	16,975	4,499	2007	15 - 40 years
Residence Inn Austin Downtown Convention Center	—	3,767	27,626	3,759	3,800	31,352	35,152	8,659	2007	15 - 40 years
SpringHill Suites Denver North Westminster	—	2,409	17,670	1,618	2,409	19,288	21,697	6,476	2006	15 - 40 years
Fairfield Inn & Suites Denver Cherry Creek	—	1,203	8,823	1,339	1,203	10,162	11,365	3,513	2006	15 - 40 years
Fairfield Inn & Suites Chicago SE Hammond	—	722	5,301	1,412	790	6,645	7,435	2,282	2006	15 - 40 years
Fairfield Inn & Suites Key West	—	1,803	19,325	3,496	1,853	22,771	24,624	7,543	2006	15 - 40 years



		Initial Costs		Costs Capitalized Subsequent to Acquisition	Gross Amount at December 31, 2019
Description	Debt	Land & Improvements	Building & Improvements	Land, Building & Improvements	Land & Improvements	Buildings & Improvements	Total (1)	Accumulated Depreciation	Date Acquired	Depreciation Life
Fairfield Inn & Suites Chicago Midway Airport	—	1,425	10,449	2,004	1,446	12,432	13,878	4,102	2006	15 - 40 years
Hampton Inn Chicago Midway Airport	—	2,747	20,143	3,047	2,793	23,144	25,937	7,774	2006	15 - 40 years
Hilton Garden Inn Chicago Midway Airport	—	2,978	21,842	1,524	3,000	23,344	26,344	7,871	2006	15 - 40 years
Sleep Inn Midway Airport	—	1,189	8,718	1,830	1,210	10,527	11,737	3,775	2006	15 - 40 years
Holiday Inn Express & Suites Midway Airport	—	1,874	13,742	3,150	1,901	16,865	18,766	5,160	2006	15 - 40 years
TGI Friday's Chicago Midway	—	829	6,139	686	851	6,803	7,654	2,253	2006	15 - 40 years
Hampton Inn Garden City	—	5,691	22,764	2,129	5,732	24,852	30,584	7,589	2007	15 - 40 years
Courtyard Houston By The Galleria	19,000	3,069	22,508	1,901	3,069	24,409	27,478	7,380	2007	15 - 40 years
Embassy Suites Los Angeles Downey	31,000	4,857	29,943	10,871	4,970	40,701	45,671	11,016	2008	15 - 40 years
Embassy Suites Tampa Downtown Convention Center	—	2,161	71,017	13,472	2,425	84,225	86,650	18,932	2010	15 - 40 years
Fairfield Inn & Suites Washington DC Downtown	34,000	16,214	22,265	6,442	16,447	28,474	44,921	7,974	2010	15 - 40 years
Embassy Suites Fort Myers Estero	—	2,816	7,862	1,804	2,903	9,579	12,482	2,745	2010	15 - 40 years
Homewood Suites Washington DC Downtown	—	23,139	34,188	5,041	23,150	39,218	62,368	9,319	2010	15 - 40 years
Hotel Indigo New Orleans Garden District	—	1,901	3,865	11,924	2,082	15,608	17,690	6,235	2010	15 - 40 years
Residence Inn National Harbor Washington DC	—	7,457	37,046	2,118	7,480	39,141	46,621	9,093	2010	15 - 40 years
Hilton Garden Inn New Orleans Convention Center	—	3,405	20,750	9,152	3,479	29,828	33,307	7,176	2010	15 - 40 years
Hilton Garden Inn Los Angeles Hollywood	—	5,303	19,136	9,275	5,667	28,047	33,714	7,528	2010	15 - 40 years
DoubleTree Metropolitan Hotel New York City	—	140,332	188,014	23,866	140,513	211,699	352,212	50,972	2010	15 - 40 years
Renaissance Pittsburgh Hotel	34,000	3,274	39,934	10,040	3,396	49,852	53,248	11,065	2011	15 - 40 years
Courtyard Atlanta Buckhead	—	2,860	21,668	3,687	2,875	25,340	28,215	6,078	2011	15 - 40 years
Marriott Denver Airport @ Gateway Park	—	3,083	38,356	4,512	3,179	42,772	45,951	10,433	2011	15 - 40 years
Embassy Suites West Palm Beach Central	—	3,656	9,614	7,578	3,856	16,992	20,848	5,288	2011	15 - 40 years
Hilton Garden Inn Pittsburgh University Place	—	1,975	18,490	8,965	2,388	27,042	29,430	7,917	2011	15 - 40 years
Courtyard Charleston Historic District	—	2,714	35,828	3,887	3,507	38,922	42,429	8,063	2011	15 - 40 years
Residence Inn Bethesda Downtown	—	8,154	52,749	6,863	8,287	59,479	67,766	11,764	2012	15 - 40 years
Courtyard New York Manhattan Upper East Side	—	20,655	60,222	7,208	20,882	67,203	88,085	13,463	2012	15 - 40 years
Hilton Garden Inn San Francisco Oakland Bay Bridge	—	11,903	22,757	6,026	12,072	28,614	40,686	5,372	2012	15 - 40 years



		Initial Costs		Costs Capitalized Subsequent to Acquisition	Gross Amount at December 31, 2019
Description	Debt	Land & Improvements	Building & Improvements	Land, Building & Improvements	Land & Improvements	Buildings & Improvements	Total (1)	Accumulated Depreciation	Date Acquired	Depreciation Life
Embassy Suites Boston Waltham	—	6,268	56,024	4,755	6,386	60,661	67,047	11,757	2012	15 - 40 years
Courtyard Houston Downtown Convention Center	—	5,799	28,953	4,436	6,033	33,155	39,188	6,065	2013	15 - 40 years
Residence Inn Houston Downtown Convention Center	—	4,674	24,913	4,848	4,875	29,560	34,435	5,287	2013	15 - 40 years
SpringHill Suites Houston Downtown Convention Center	—	2,382	12,756	15,919	2,566	28,491	31,057	5,706	2013	15 - 40 years
Courtyard Waikiki Beach	—	557	79,033	11,617	795	90,412	91,207	15,872	2013	15 - 40 years
Courtyard San Francisco	—	11,277	18,198	28,678	11,291	46,862	58,153	8,845	2013	15 - 40 years
Residence Inn Atlanta Midtown Historic	—	2,812	6,044	7,523	2,969	13,410	16,379	2,556	2013	15 - 40 years
SpringHill Suites Portland Hillsboro	—	3,488	18,283	1,431	3,515	19,687	23,202	3,194	2013	15 - 40 years
Hilton Cabana Miami Beach	—	25,083	40,707	6,563	25,162	47,191	72,353	6,594	2014	15 - 40 years
Hyatt House Charlotte Center City	18,000	3,029	26,193	1,852	3,029	28,045	31,074	4,053	2014	15 - 40 years
Hyatt House Cypress Anaheim	16,000	3,995	9,164	3,964	4,354	12,769	17,123	2,662	2014	15 - 40 years
Hyatt House Emeryville San Francisco Bay Area	36,000	7,425	29,137	6,107	7,517	35,152	42,669	6,147	2014	15 - 40 years
Hyatt House San Diego Sorrento Mesa	—	10,420	21,288	1,420	10,625	22,503	33,128	3,710	2014	15 - 40 years
Hyatt House San Jose Silicon Valley	—	6,820	31,682	1,009	6,820	32,691	39,511	4,712	2014	15 - 40 years
Hyatt House San Ramon	—	5,712	11,852	2,834	5,717	14,681	20,398	2,551	2014	15 - 40 years
Hyatt House Santa Clara	34,000	8,044	27,703	3,041	8,046	30,742	38,788	4,798	2014	15 - 40 years
Hyatt Centric The Woodlands	—	5,950	16,882	1,146	5,957	18,021	23,978	2,647	2014	15 - 40 years
Hyatt Place Fremont Silicon Valley	—	6,209	13,730	1,459	6,271	15,127	21,398	2,553	2014	15 - 40 years
Hyatt Place Madison Downtown	13,000	6,701	25,478	234	6,701	25,712	32,413	3,731	2014	15 - 40 years
Embassy Suites Irvine Orange County	—	15,062	33,048	8,848	15,187	41,771	56,958	6,771	2014	15 - 40 years
Courtyard Portland City Center	—	8,019	53,024	1,417	8,022	54,438	62,460	7,818	2014	15 - 40 years
Hyatt Atlanta Midtown	—	3,737	41,731	1,108	3,740	42,836	46,576	5,969	2014	15 - 40 years
DoubleTree Grand Key Resort	—	48,192	27,770	7,717	48,266	35,413	83,679	5,501	2014	15 - 40 years
Hyatt Place Washington DC Downtown K Street	—	10,763	55,225	1,928	10,763	57,153	67,916	6,464	2015	15 - 40 years
Homewood Suites Seattle Lynnwood	19,000	3,933	30,949	170	3,981	31,071	35,052	3,626	2015	15 - 40 years
Residence Inn Palo Alto Los Altos	31,215	16,996	45,786	772	17,097	46,457	63,554	5,406	2015	15 - 40 years
DoubleTree Suites by Hilton Austin	—	7,072	50,827	827	7,155	51,571	58,726	3,031	2017	15 - 40 years
DoubleTree Suites by Hilton Orlando - Lake Buena Vista	—	896	44,508	752	904	45,252	46,156	2,781	2017	15 - 40 years
Embassy Suites Atlanta - Buckhead	—	31,279	46,015	5,256	31,451	51,099	82,550	2,895	2017	15 - 40 years
Embassy Suites Birmingham	21,744	10,495	33,568	499	10,495	34,067	44,562	2,097	2017	15 - 40 years
Embassy Suites Dallas - Love Field	25,000	6,408	34,694	1,306	6,413	35,995	42,408	2,140	2017	15 - 40 years



			Initial Costs				Costs Capitalized Subsequent to Acquisition		Gross Amount at December 31, 2019
Description	Debt		Land & Improvements		Building & Improvements		Land, Building & Improvements		Land & Improvements		Buildings & Improvements		Total (1)		Accumulated Depreciation		Date Acquired	Depreciation Life
Embassy Suites Deerfield Beach - Resort & Spa	28,785		7,527		56,128		3,231		7,682		59,204		66,886		3,502		2017	15 - 40 years
Embassy Suites Fort Lauderdale 17th Street	32,594		30,933		54,592		3,068		31,160		57,433		88,593		3,575		2017	15 - 40 years
Embassy Suites Los Angeles - International Airport South	50,000		13,110		94,733		1,625		13,168		96,300		109,468		5,691		2017	15 - 40 years
Embassy Suites Mandalay Beach - Hotel & Resort	—		35,769		53,280		1,897		35,833		55,113		90,946		3,414		2017	15 - 40 years
Embassy Suites Miami - International Airport	—		14,765		18,099		3,186		15,057		20,993		36,050		1,454		2017	15 - 40 years
Embassy Suites Milpitas Silicon Valley	—		43,157		26,399		9,914		43,369		36,101		79,470		2,280		2017	15 - 40 years
Embassy Suites Minneapolis - Airport	34,961		7,248		41,202		15,929		9,673		54,706		64,379		3,767		2017	15 - 40 years
Embassy Suites Orlando - International Drive South/Convention Center	—		4,743		37,687		1,351		4,833		38,948		43,781		2,356		2017	15 - 40 years
Embassy Suites Phoenix - Biltmore	21,000		24,680		24,487		2,413		24,719		26,861		51,580		1,694		2017	15 - 40 years
Embassy Suites San Francisco Airport - South San Francisco	—		39,616		55,163		7,488		39,654		62,613		102,267		3,866		2017	15 - 40 years
Embassy Suites San Francisco Airport - Waterfront	—		3,698		85,270		3,791		3,961		88,798		92,759		5,720		2017	15 - 40 years
San Francisco Marriott Union Square	—		46,773		107,841		12,948		46,876		120,686		167,562		7,417		2017	15 - 40 years
The Knickerbocker New York	—		113,613		119,453		1,613		113,622		121,057		234,679		7,056		2017	15 - 40 years
The Mills House Wyndham Grand Hotel	—		9,599		68,932		664		9,601		69,594		79,195		4,093		2017	15 - 40 years
Wyndham Boston Beacon Hill	—		174		51,934		1,507		178		53,437		53,615		11,142		2017	10 years
Wyndham Houston - Medical Center Hotel & Suites	—		7,776		43,475		237		7,793		43,695		51,488		2,601		2017	15 - 40 years
Wyndham New Orleans - French Quarter	—		300		72,711		670		300		73,381		73,681		4,348		2017	15 - 40 years
Wyndham Philadelphia Historic District	—		8,367		51,914		666		8,403		52,544		60,947		3,099		2017	15 - 40 years
Wyndham Pittsburgh University Center	—		154		31,625		286		158		31,907		32,065		1,880		2017	15 - 40 years
Wyndham San Diego Bayside	—		989		29,440		4,364		1,079		33,714		34,793		6,088		2017	11 years
Wyndham Santa Monica At The Pier	—		27,054		45,866		616		27,081		46,455		73,536		2,767		2017	15 - 40 years
	$	530,299	$	1,076,882	$	3,569,930	$	480,636	$	1,088,436	$	4,039,012	$	5,127,448	$	706,040

(1) The aggregate cost of real estate for federal income tax purposes was approximately $5.0 billion at December 31, 2019.

The change in the total cost of the hotel properties is as follows:



	2019			2018			2017
Reconciliation of Land and Buildings and Improvements
Balance at beginning of period	$	5,903,906		$	6,165,296		$	3,725,932
Add: Acquisitions	—			—			2,539,854
Add: Improvements	91,129			109,403			60,916
Less: Sale of hotel properties	(854,087		)	(370,793		)	(161,406		)
Less: Impairment loss	(13,500		)	—			—
Balance at end of period	$	5,127,448		$	5,903,906		$	6,165,296

The change in the accumulated depreciation of the real estate assets is as follows:



	2019			2018			2017
Reconciliation of Accumulated Depreciation
Balance at beginning of period	$	(759,643	)	$	(628,518	)	$	(520,517	)
Add: Depreciation for the period	(131,442		)	(143,215		)	(108,986		)
Less: Sale of hotel properties	185,045			12,090			985
Balance at end of period	$	(706,040	)	$	(759,643	)	$	(628,518	)

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Equity Method Investments [Policy Text Block]

Investment in Unconsolidated Joint Ventures

Intangible Assets, Finite-Lived, Policy [Policy Text Block]

Intangible Assets

Basis of Presentation and Principles of Consolidation

Use of Estimates

Reclassifications

Revenue Recognition

Revenue

Investment in Hotel Properties

the realizability of the carrying value, less costs to sell, in accordance with the guidance. Any such adjustment to the carrying value is recorded as an impairment loss.

Cash and Cash Equivalents

Restricted Cash Reserves

Hotel Receivables

Deferred Financing Costs

Transaction and Pursuit Costs

Transaction Costs

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 a 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.

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

Noncontrolling Interests

Income Taxes

Earnings Per Common Share

Share-based Compensation

Recently Issued Accounting Pronouncements

Summary of Significant Accounting Policies Schedule of New Accounting Pronouncements and Changes in Accounting Principles (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

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

Merger with FelCor Lodging Trust Incorporated (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Schedule of Business Acquisitions by Acquisition, Equity Interest Issued or Issuable [Table Text Block]

The total consideration consisted of the following (in thousands):



	Total Consideration
Common Shares	$	1,016,227
Series A Preferred Shares	366,936
OP Units	4,342
Cash, net of cash, cash equivalents, and restricted cash reserves acquired	24,883
Total consideration	$	1,412,388

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

As a result of the Mergers, the Company acquired an ownership interest in the following 37 hotel properties:



Hotel Property Name	Location	Ownership Interest	Management Company	Rooms
DoubleTree Suites by Hilton Austin	Austin, TX	100%	Hilton	188
DoubleTree Suites by Hilton Orlando - Lake Buena Vista	Orlando, FL	100%	Hilton	229
Embassy Suites Atlanta - Buckhead	Atlanta, GA	100%	Hilton	316
Embassy Suites Birmingham	Birmingham, AL	100%	Hilton	242
Embassy Suites Boston Marlborough (1)	Marlborough, MA	100%	Hilton	229
Embassy Suites Dallas - Love Field	Dallas, TX	100%	Aimbridge Hospitality	248
Embassy Suites Deerfield Beach - Resort & Spa	Deerfield Beach, FL	100%	Hilton	244
Embassy Suites Fort Lauderdale 17th Street	Fort Lauderdale, FL	100%	Hilton	361
Embassy Suites Los Angeles - International Airport South	El Segundo, CA	100%	Hilton	349
Embassy Suites Mandalay Beach - Hotel & Resort	Oxnard, CA	100%	Hilton	250
Embassy Suites Miami - International Airport	Miami, FL	100%	Hilton	318
Embassy Suites Milpitas Silicon Valley	Milpitas, CA	100%	Hilton	266
Embassy Suites Minneapolis - Airport	Bloomington, MN	100%	Hilton	310
Embassy Suites Myrtle Beach - Oceanfront Resort (11)	Myrtle Beach, SC	100%	Hilton	255
Embassy Suites Napa Valley (2)	Napa, CA	100%	Hilton	205
Embassy Suites Orlando - International Drive South/Convention Center	Orlando, FL	100%	Hilton	244
Embassy Suites Phoenix - Biltmore	Phoenix, AZ	100%	Hilton	232
Embassy Suites San Francisco Airport - South San Francisco	San Francisco, CA	100%	Hilton	312
Embassy Suites San Francisco Airport - Waterfront	Burlingame, CA	100%	Hilton	340
Embassy Suites Secaucus - Meadowlands (3)	Secaucus, NJ	50%	Hilton	261
Hilton Myrtle Beach Resort (11)	Myrtle Beach, SC	100%	Hilton	385
Holiday Inn San Francisco - Fisherman's Wharf (4)	San Francisco, CA	100%	InterContinental Hotels	585
San Francisco Marriott Union Square	San Francisco, CA	100%	Marriott	400
Sheraton Burlington Hotel & Conference Center (5) (6)	Burlington, VT	100%	Marriott	309
Sheraton Philadelphia Society Hill Hotel (7)	Philadelphia, PA	100%	Marriott	364
The Fairmont Copley Plaza (8)	Boston, MA	100%	FRHI Hotels & Resorts	383
The Knickerbocker New York	New York, NY	95%	Highgate Hotels	330
The Mills House Wyndham Grand Hotel	Charleston, SC	100%	Wyndham	216
The Vinoy Renaissance St. Petersburg Resort & Golf Club (9)	St. Petersburg, FL	100%	Marriott	361
Wyndham Boston Beacon Hill	Boston, MA	100%	Wyndham	304
Wyndham Houston - Medical Center Hotel & Suites	Houston, TX	100%	Wyndham	287
Wyndham New Orleans - French Quarter	New Orleans, LA	100%	Wyndham	374
Wyndham Philadelphia Historic District	Philadelphia, PA	100%	Wyndham	364
Wyndham Pittsburgh University Center	Pittsburgh, PA	100%	Wyndham	251
Wyndham San Diego Bayside	San Diego, CA	100%	Wyndham	600
Wyndham Santa Monica At The Pier	Santa Monica, CA	100%	Wyndham	132
Chateau LeMoyne - French Quarter, New Orleans (10)	New Orleans, LA	50%	InterContinental Hotels	171
				11,215


(1)	In February 2018, the Company sold this hotel property for a sale price of $23.7 million.


(2)	In July 2018, the Company sold this hotel property for a sale price of $102.0 million.


(3)	The Company owns an indirect 50% ownership interest in the real estate at this hotel property and records the real estate interests using the equity method of accounting. The Company leases the hotel property to its TRS, of which the Company owns a controlling financial interest in the operating lessee, so the Company consolidates its ownership interest in the leased hotel.


(4)	In October 2018, the Company sold this hotel property for a sale price of $75.3 million.


(5)	In December 2017, this hotel property was converted to the DoubleTree by Hilton Burlington Vermont.


(6)	In September 2018, the Company sold this hotel property for a sale price of $35.0 million.


(7)	In March 2018, the Company sold this hotel property for a sale price of $95.5 million.


(8)	In December 2017, the Company sold this hotel property for a sale price of $170.0 million.


(9)	In August 2018, the Company sold this hotel property for a sale price of $185.0 million.


(10)	The Company owns an indirect 50% ownership interest in this hotel property and accounts for its ownership interest using the equity method of accounting. This hotel property is operated without a lease.

(11)

In June 2019, the Company sold the two Myrtle Beach, South Carolina hotels for $153.3 million

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The Company allocated the purchase price consideration as follows (in thousands):



	August 31, 2017
Investment in hotel properties	$	2,661,114
Investment in unconsolidated joint ventures	25,651
Hotel and other receivables	28,308
Deferred income tax assets	58,170
Intangible assets	139,673
Prepaid expenses and other assets	23,811
Debt	(1,305,337		)
Accounts payable and other liabilities	(118,360		)
Advance deposits and deferred revenue	(23,795		)
Accrued interest	(22,612		)
Distributions payable	(4,312		)
Noncontrolling interest in consolidated joint ventures	(5,493		)
Preferred equity in a consolidated joint venture	(44,430		)
Total consideration	$	1,412,388

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

The Company recognized the following intangible assets in the Mergers (dollars in thousands):



			Weighted Average Amortization Period (in Years)
Below market ground leases	$	118,050	54
Advanced bookings	13,862		1
Other intangible assets	7,761		6
Total intangible assets	$	139,673	46

Schedule revenue and net income on acquisition [Table Text Block]



	For the year ended December 31, 2017
Revenue	$	260,020
Net income	$	14,994

Business Acquisition, Transaction costs [Table Text Block]

The following table presents the costs that were incurred in connection with the Mergers (in thousands):



	For the year ended December 31,
	2018			2017
Transaction costs	$	(487	)	$	38,391
Integration costs	2,050			5,696
	$	1,563		$	44,087

Business Acquisition, Pro Forma Information [Table Text Block]

The unaudited condensed pro forma financial information is as follows (in thousands):



	For the year ended December 31, 2017
	(unaudited)
Revenue	$	1,893,899
Net income attributable to common shareholders	$	110,231
Net income per share attributable to common shareholders - basic	$	0.63
Net income per share attributable to common shareholders - diluted	$	0.63
Weighted-average number of shares outstanding - basic	174,142,918
Weighted-average number of shares outstanding - diluted	174,220,129

Investment in Hotel Properties (Tables)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Schedule of investment in hotel properties

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



	December 31, 2019			December 31, 2018
Land and improvements	$	1,088,436		$	1,209,416
Buildings and improvements	4,039,012			4,694,490
Furniture, fixtures and equipment	685,699			813,797
	5,813,147			6,717,703
Accumulated depreciation	(1,198,181		)	(1,339,052		)
Investment in hotel properties, net	$	4,614,966		$	5,378,651

Investment in Unconsolidated Joint Ventures (Tables)

12 Months Ended

Dec. 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):



	December 31, 2019			December 31, 2018
Equity basis of the joint venture investments	$	(4,236	)	$	117
Cost of the joint venture investments in excess of the joint venture book value	19,407			22,162
Investment in unconsolidated joint ventures	$	15,171		$	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 income from unconsolidated joint ventures (in thousands):



	For the year ended December 31,
	2019			2018			2017
Operating income	$	1,667		$	2,105		$	623
Depreciation of cost in excess of book value	(1,265		)	(1,469		)	(490		)
Loss on sale	(2,075		)	—			—
Equity in (loss) income from unconsolidated joint ventures	$	(1,673	)	$	636		$	133

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill [Table Text Block]

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



	December 31, 2019							December 31, 2018
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Below market ground leases (1)	$	—	$	—		$	—	$	50,267	$	(3,495	)	$	46,772
Advanced bookings	1,902		(1,902		)	—		1,902		(1,268		)	634
Other intangible assets (2)	1,100		(1,100		)	—		7,500		(2,458		)	5,042
Intangible assets, net	$	3,002	$	(3,002	)	$	—	$	59,669	$	(7,221	)	$	52,448


(1)	As mentioned in Note 2 Summary of Significant Accounting Policies, the Company adopted ASU 2016-02, Leases (Topic 842) on January 1, 2019. Upon adoption of this standard, 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.

(2)

In June 2019, the Company sold two hotels located in Myrtle Beach, South Carolina. As a result of the sale, the Company wrote off $4.5 million of net intangible assets.

Revenue (Tables)

12 Months Ended

Dec. 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 year ended December 31, 2019
	Room Revenue		Food and Beverage Revenue		Other Revenue		Total Revenue
Northern California	$	201,667	$	19,752	$	5,875	$	227,294
Southern California	126,959		15,306		10,030		152,295
New York City	130,702		16,410		4,759		151,871
South Florida	117,252		19,720		8,112		145,084
Austin	76,438		9,453		3,772		89,663
Chicago	70,469		13,102		2,139		85,710
Denver	55,063		12,224		1,351		68,638
Houston	55,955		3,763		4,355		64,073
Washington, DC	59,257		1,703		2,343		63,303
Louisville	40,627		18,246		2,373		61,246
Other	382,696		47,820		26,499		457,015
Total	$	1,317,085	$	177,499	$	71,608	$	1,566,192



	For the year ended December 31, 2018
	Room Revenue		Food and Beverage Revenue		Other Revenue		Total Revenue
Northern California	$	233,394	$	20,872	$	7,572	$	261,838
South Florida	133,527		20,547		7,272		161,346
Southern California	129,634		16,662		8,846		155,142
New York City	133,728		16,633		4,197		154,558
Austin	84,183		9,382		3,662		97,227
Chicago	73,497		13,106		2,029		88,632
Denver	69,603		12,596		1,291		83,490
Washington, DC	66,130		2,460		2,370		70,960
Houston	61,811		3,789		4,337		69,937
Tampa	38,169		17,296		9,108		64,573
Other	449,371		72,175		31,975		553,521
Total	$	1,473,047	$	205,518	$	82,659	$	1,761,224



	For the year ended December 31, 2017
	Room Revenue		Food and Beverage Revenue		Other Revenue		Total Revenue
Northern California	$	143,717	$	11,064	$	3,902	$	158,683
South Florida	97,734		14,924		4,890		117,548
New York City	101,544		9,143		3,120		113,807
Austin	81,370		9,007		2,894		93,271
Southern California	77,617		8,693		4,132		90,442
Denver	72,781		13,185		1,441		87,407
Chicago	70,119		13,575		1,684		85,378
Washington, DC	68,795		3,208		2,449		74,452
Houston	58,333		3,033		3,140		64,506
Louisville	43,654		14,890		2,428		60,972
Other	331,218		56,950		21,627		409,795
Total	$	1,146,882	$	157,672	$	51,707	$	1,356,261

Sale of Hotel Properties (Tables)

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Properties disposed

The following table discloses the hotel property that was sold during the year ended December 31, 2017:



Hotel Property Name	Location	Sale Date	Rooms
The Fairmont Copley Plaza	Boston, MA	December 14, 2017	383
		Total	383

The following table discloses the hotel properties that were sold during the year ended December 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
Embassy Suites Napa Valley	Napa, CA	July 13, 2018	205
DoubleTree Hotel Columbia	Columbia, MD	August 7, 2018	152
The Vinoy Renaissance St. Petersburg Resort & Golf Club	St. Petersburg, FL	August 28, 2018	362
DoubleTree by Hilton Burlington Vermont	Burlington, VT	September 27, 2018	309
Holiday Inn San Francisco - Fisherman's Wharf (1)	San Francisco, CA	October 15, 2018	585
		Total	2,206

(1)

The following table discloses the hotel properties that were sold during the year ended December 31, 2019:



Hotel Property Name	Location	Sale Date	Rooms
Courtyard Boulder Longmont	Longmont, CO	June 25, 2019	78
Courtyard Salt Lake City Airport	Salt Lake City, UT	June 25, 2019	154
Courtyard Fort Lauderdale SW Miramar	Miramar, FL	June 25, 2019	128
Courtyard Austin Airport	Austin, TX	June 25, 2019	150
Fairfield Inn & Suites San Antonio Downtown Market	San Antonio, TX	June 25, 2019	110
Hampton Inn & Suites Clearwater St. Petersburg	Clearwater, FL	June 25, 2019	128
Hampton Inn Fort Walton Beach	Fort Walton, FL	June 25, 2019	100
Hampton Inn & Suites Denver Tech Center	Denver, CO	June 25, 2019	123
Hampton Inn West Palm Beach Airport Central	West Palm Beach, FL	June 25, 2019	105



Hilton Garden Inn Bloomington	Bloomington, IN	June 25, 2019	168
Hilton Garden Inn West Palm Beach Airport	West Palm Beach, FL	June 25, 2019	100
Hilton Garden Inn Durham Raleigh Research Triangle Park	Durham, NC	June 25, 2019	177
Residence Inn Longmont Boulder	Longmont, CO	June 25, 2019	84
Residence Inn Detroit Novi	Novi, MI	June 25, 2019	107
Residence Inn Chicago Oak Brook	Oak Brook, IL	June 25, 2019	156
Residence Inn Fort Lauderdale Plantation	Plantation, FL	June 25, 2019	138
Residence Inn Salt Lake City Airport	Salt Lake City, UT	June 25, 2019	104
Residence Inn San Antonio Downtown Market Square	San Antonio, TX	June 25, 2019	95
Residence Inn Fort Lauderdale SW Miramar	Miramar, FL	June 25, 2019	130
Residence Inn Silver Spring	Silver Spring, MD	June 25, 2019	130
SpringHill Suites Boulder Longmont	Longmont, CO	June 25, 2019	90
Embassy Suites Myrtle Beach Oceanfront Resort	Myrtle Beach, SC	June 27, 2019	255
Hilton Myrtle Beach Resort	Myrtle Beach, SC	June 27, 2019	385
Courtyard Austin Northwest Arboretum	Austin, TX	August 14, 2019	102
Courtyard Denver West Golden	Golden, CO	August 14, 2019	110
Courtyard Boulder Louisville	Louisville, CO	August 14, 2019	154
Courtyard Louisville Northeast	Louisville, KY	August 14, 2019	114
Courtyard South Bend Mishawaka	Mishawaka, IN	August 14, 2019	78
Hampton Inn Houston Galleria	Houston, TX	August 14, 2019	176
Hyatt House Houston Galleria	Houston, TX	August 14, 2019	147
Hyatt House Austin Arboretum	Austin, TX	August 14, 2019	131
Hyatt House Dallas Lincoln Park	Dallas, TX	August 14, 2019	155
Hyatt House Dallas Uptown	Dallas, TX	August 14, 2019	141
Residence Inn Austin Northwest Arboretum	Austin, TX	August 14, 2019	84
Residence Inn Austin North Parmer Lane	Austin, TX	August 14, 2019	88
Residence Inn Denver West Golden	Golden, CO	August 14, 2019	88
Residence Inn Boulder Louisville	Louisville, CO	August 14, 2019	88
Residence Inn Louisville Northeast	Louisville, KY	August 14, 2019	102
SpringHill Suites Austin North Parmer Lane	Austin, TX	August 14, 2019	132
SpringHill Suites Louisville Hurstbourne North	Louisville, KY	August 14, 2019	142
SpringHill Suites South Bend Mishawaka	Mishawaka, IN	August 14, 2019	87
Residence Inn Columbia	Columbia, MD	September 12, 2019	108
Courtyard Austin South	Austin, TX	November 22, 2019	110
Fairfield Inn & Suites Austin South Airport	Austin, TX	November 22, 2019	63
Marriott Austin South	Austin, TX	November 22, 2019	211
Residence Inn Austin South	Austin, TX	November 22, 2019	66
SpringHill Suites Austin South	Austin, TX	November 22, 2019	152
		Total	6,024

Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments [Table Text Block]

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



	December 31, 2019		December 31, 2018
Senior Notes	$	500,484	$	505,322
Revolver and Term Loans, net	1,168,793		1,169,165
Mortgage loans, net	526,430		528,189
Debt, net	$	2,195,707	$	2,202,676

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
	Interest Rate	Maturity Date	December 31, 2019		December 31, 2018
Senior unsecured notes (1) (2) (3)	6.00%	June 2025	$	500,484	$	505,322


(1)	Requires payments of interest only through maturity.


(2)	The senior unsecured notes include $25.6 million and $30.3 million at December 31, 2019 and 2018, respectively, related to fair value adjustments on the Senior 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.

Schedule of unsecured credit agreements

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



			Outstanding Borrowings at
	Interest Rate at December 31, 2019 (1)	Maturity Date	December 31, 2019			December 31, 2018
Revolver (2)	3.21%	May 2024	$	—		$	—
$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
$400 Million Term Loan Maturing 2025	2.92%	May 2025	400,000			400,000
			1,175,000			1,175,000
Deferred financing costs, net (3)			(6,207		)	(5,835		)
Total Revolver and Term Loans, net			$	1,168,793		$	1,169,165


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


(2)	At both December 31, 2019 and 2018, there was $600.0 million of capacity on the Revolver. The Company has the ability to further increase the capacity on the Revolver to $750.0 million, subject to certain lender requirements. The Company also has the ability to extend the maturity date for an additional one year period ending May 2025 if certain conditions are satisfied.

(3)

Excludes $3.4 million and $1.5 million as of December 31, 2019 and 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

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



					Principal balance at
	Number of Assets Encumbered	Interest Rate at December 31, 2019 (1)	Maturity Date		December 31, 2019			December 31, 2018
Mortgage loan (2)	7	3.33%	April 2022	(6)	$	200,000		$	—
Mortgage loan (3)	1	5.25%	June 2022		31,215			32,066
Mortgage loan (4)	3	4.95%	October 2022		89,299			91,737
Mortgage loan (5)	1	4.94%	October 2022		28,785			29,569
Mortgage loan (2)	4	3.38%	April 2024	(7)	85,000			85,000
Mortgage loan (2)	3	2.88%	April 2024	(8)	96,000			—
Mortgage loan	—	—	—	(9)	—			140,250
Mortgage loan	—	—	—	(10)	—			150,000
	19				530,299			528,622
Deferred financing costs, net					(3,869		)	(433		)
Total mortgage loans, net					$	526,430		$	528,189


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


(2)	The hotels encumbered by the mortgage loan are cross-collateralized. Requires payments of interest only through maturity.


(3)	Includes $0.5 million and $0.6 million at December 31, 2019 and 2018, respectively, related to a fair value adjustment on the mortgage loan that was assumed in conjunction with an acquisition.


(4)	Includes $1.4 million and $1.9 million at December 31, 2019 and 2018, respectively, related to fair value adjustments on the mortgage loans that were assumed in the Mergers.


(5)	Includes $0.4 million and $0.6 million at December 31, 2019 and 2018, respectively, related to a fair value adjustment on the mortgage loan that was assumed in the Mergers.


(6)	In April 2019, the Company entered into a new mortgage loan that bears interest at LIBOR + 1.52% and provides two one year extension options.


(7)	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.


(8)	In April 2019, the Company entered into a new mortgage loan that bears interest at LIBOR + 1.60% and provides two one year extension options.


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


(10)	In April 2019, the Company paid off the mortgage loan in full.

Components of interest expense

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



	For the year ended December 31,
	2019		2018		2017
Senior Notes	$	23,793	$	28,428	$	15,918
Revolver and Term Loans	42,272		43,458		39,262
Mortgage loans	20,754		26,253		19,643
Amortization of deferred financing costs	4,100		3,504		3,499
Undesignated interest rate swaps	376		—		—
Total interest expense	$	91,295	$	101,643	$	78,322

Future minimum principal payments

As of December 31, 2019, the future minimum principal payments were as follows (in thousands):



2020	$	3,098
2021	3,557
2022	490,386
2023	625,000
2024	181,000
Thereafter	874,888
Total (1)	$	2,177,929

(1)

Excludes a total of $27.9 million related to fair value adjustments on debt.

- 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
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-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
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-Name Accounting Standards Codification
-Topic 835
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Topic 235
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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-Topic 835
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-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
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Derivatives and Hedging (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of interest rate swaps and caps

he Company's interest rate swaps consisted of the following (in thousands):



			Notional value at				Fair value at
Hedge type	Interest rate	Maturity	December 31, 2019		December 31, 2018		December 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		607			3,072
Swap-cash flow	1.20%	April 2021	100,000		100,000		538			2,955
Swap-cash flow	2.15%	April 2021	75,000		75,000		(590		)	539
Swap-cash flow	1.91%	April 2021	75,000		75,000		(337		)	967
Swap-cash flow	1.61%	June 2021	50,000		50,000		(32		)	1,057
Swap-cash flow	1.56%	June 2021	50,000		50,000		13			1,129
Swap-cash flow	1.71%	June 2021	50,000		50,000		(109		)	934
Swap-cash flow	2.29%	December 2022	200,000		200,000		(4,587		)	938
Swap-cash flow	2.29%	December 2022	125,000		125,000		(2,859		)	607
Swap-cash flow	2.38%	December 2022	200,000		200,000		(5,155		)	259
Swap-cash flow	2.38%	December 2022	100,000		100,000		(2,574		)	139
Swap-cash flow (2)	2.75%	November 2023	100,000		100,000		(3,590		)	(1,020		)
Swap-cash flow (3)	2.51%	December 2023	75,000		—		(2,120		)	—
Swap-cash flow (3)	2.39%	December 2023	75,000		—		(1,858		)	—
Swap-cash flow	1.35%	September 2021	49,000		—		181			—
Swap-cash flow	1.28%	September 2022	100,000		—		690			—
Swap-cash flow (4)	1.24%	September 2025	150,000		—		2,268			—
			$	1,674,000	$	2,083,250	$	(19,514	)	$	16,195

(1)


(2)	Effective in November 2020.


(3)	Effective in January 2021.


(4)	Effective in September 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	December 31, 2019		December 31, 2018		December 31, 2019			December 31, 2018
Interest rate swap (1)	1.80%	September 2020	$	30,195	$	—	$	(34	)	$	—
Interest rate swap (1)	1.80%	September 2020	75,030		—		(86		)	—
Interest rate swap (1)	1.80%	September 2020	32,025		—		(37		)	—
Interest rate swap (1)	1.81%	October 2020	142,500		—		(219		)	—
			$	279,750	$	—	$	(376	)	$	—


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

Fair Value (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block]

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



	Fair Value at December 31, 2019
	Level 1		Level 2		Level 3		Total
Impaired hotel properties	$	—	$	—	$	6,019	$	6,019

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):



	December 31, 2019				December 31, 2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
Senior Notes	$	500,484	$	497,835	$	505,322	$	492,554
Revolver and Term Loans, net	1,168,793		1,176,068		1,169,165		1,175,000
Mortgage loans, net	526,430		532,249		528,189		528,404
Debt, net	$	2,195,707	$	2,206,152	$	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 December 31, 2019 (in thousands):



	Fair Value at December 31, 2019
	Level 1		Level 2			Level 3		Total
Interest rate swap asset	$	—	$	4,297		$	—	$	4,297
Interest rate swap liability	—		(24,187		)	—		(24,187		)
Total	$	—	$	(19,890	)	$	—	$	(19,890	)

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

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Operating Lease, Lease Income [Table Text Block]

The Company's ground leases consisted of the following (in millions):



			Ground Lease Expense
			For the year ended December 31,
Hotel Property Name	Initial Term Expiration	Extension Term(s) Expiration	2019		2018		2017
Holiday Inn San Francisco Fisherman's Wharf (1)(2)	2018	—	$	—	$	4.6	$	1.6
Wyndham Boston Beacon Hill	2028	—	0.9		0.9		0.3
Wyndham San Diego Bayside	2029	—	4.8		4.8		1.5
DoubleTree Suites by Hilton Orlando Lake Buena Vista	2032	2057	0.9		0.8		0.2
Residence Inn Palo Alto Los Altos	2033	—	0.1		0.1		0.1
Wyndham Pittsburgh University Center	2038	2083	0.7		0.8		0.1
DoubleTree by Hilton Burlington Vermont (3)	2051	—	—		0.1		0.1
Marriott Louisville Downtown	2053	2153 (4)	—		—		—
Embassy Suites San Francisco Airport Waterfront	2059	—	2.4		2.3		0.7
Wyndham New Orleans French Quarter	2065	—	0.5		0.5		0.1
The Vinoy Renaissance St. Petersburg Resort & Golf Club (5)	2090	—	—		1.9		1.0
Courtyard Charleston Historic District	2096	—	1.0		1.0		1.0
Courtyard Austin Downtown Convention Center and Residence Inn Downtown Convention Center	2100	—	0.8		0.9		0.9
Courtyard Waikiki Beach	2112	—	3.6		3.5		3.5
			$	15.7	$	22.2	$	11.1

(1) This hotel property was sold on October 15, 2018.

(2) This lease covered only a portion of the hotel property site.

(3) This hotel property was sold on September 27, 2018.

(4) The lease may be extended up to four twenty-five year terms at the Company's option.

(5) This hotel property was sold on August 28, 2018.

Assets And Liabilities, Lessee [Table Text Block]

The following table presents certain information related to the Company's operating leases as of December 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.

Schedule of future minimum ground lease payments

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



	December 31, 2019
2020	$	11,141
2021	11,735
2022	10,124
2023	10,188
2024	10,215
Thereafter	544,201
Total future lease payments	597,604
Imputed interest	(476,450		)
Lease liabilities	$	121,154

Schedule of hotel properties operated pursuant to long-term agreements with hotel management companies



Management Company		Number of Hotel Properties
Aimbridge Hospitality (1)		36
Crestline Hotels and Resorts		1
Davidson Hotels and Resorts		1
Hilton Management and affiliates		19
HEI Hotels and Resorts		1
Highgate Hotels		5
Hyatt Corporation and affiliates		11
InnVentures		3
Marriott International, Inc.		3
Sage Hospitality		4
Urgo Hotels		3
White Lodging Services		8
Wyndham		8
		103

(1)

Includes agreements entered into with Interstate Hotels and Resorts ("Interstate"). On October 25, 2019, Aimbridge Hospitality completed its merger with Interstate. The newly combined company will be positioned under the Aimbridge Hospitality name in the Americas and the Interstate brand will be utilized for international markets.

Equity Incentive Plan (Tables)

12 Months Ended

Dec. 31, 2019

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

Share-based Compensation Arrangements by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest [Table Text Block]

A summary of the performance unit awards is as follows:



Date of Award	Number of Units Granted	Grant Date Fair Value	Conversion Range	Risk Free Interest Rate	Volatility
May 2016 (1)	280,000	$10.31	25% to 150%	1.05%	23.82%
February 2017	259,000	$14.93	25% to 150%	1.57%	25.73%
February 2018	264,000	$13.99	25% to 150%	2.42%	27.44%
February 2019	260,000	$19.16	25% to 200%	2.52%	27.19%

Summary of the unvested restricted shares

A summary of the unvested restricted shares is as follows:



	2019				2018				2017
	Number of Shares		Weighted-Average Grant Date Fair Value		Number of Shares		Weighted-Average Grant Date Fair Value		Number of Shares		Weighted-Average Grant Date Fair Value
Unvested at January 1,	740,792		$	21.89	700,325		$	22.88	649,447		$	23.00
Granted	530,436		18.69		592,673		21.42		425,076		23.15
Vested	(312,131	)	21.63		(438,881	)	22.92		(363,160	)	23.41
Forfeited	(18,895	)	20.03		(113,325	)	21.58		(11,038	)	23.24
Unvested at December 31,	940,202		$	20.21	740,792		$	21.89	700,325		$	22.88

Earnings per Common Share (Tables)

12 Months Ended

Dec. 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 year ended December 31,
	2019			2018			2017
Numerator:
Net income attributable to RLJ	$	127,842		$	188,643		$	74,835
Less: Preferred dividends	(25,115		)	(25,115		)	(8,372		)
Less: Dividends paid on unvested restricted shares	(1,342		)	(1,181		)	(1,029		)
Less: Undistributed earnings attributable to unvested restricted shares	—			—			—
Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares	$	101,385		$	162,347		$	65,434

Denominator:
Weighted-average number of Common Shares - basic	171,287,086			174,225,130			140,616,838
Unvested restricted shares	101,390			91,275			77,211
Weighted-average number of Common Shares - diluted	171,388,476			174,316,405			140,694,049

Net income per share attributable to common shareholders - basic	$	0.59		$	0.93		$	0.47

Net income per share attributable to common shareholders - diluted	$	0.59		$	0.93		$	0.47

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of components of the income tax provision from continuing operations

The components of the income tax provision are as follows (in thousands):



	For the Years Ended December 31,
	2019			2018			2017
Current:
Federal	$	—		$	—		$	(67	)
State	(3,067		)	(2,209		)	(2,304		)
Deferred:
Federal	3,987			(4,867		)	(43,181		)
State	2,831			(1,717		)	3,434
Income tax benefit (expense)	$	3,751		$	(8,793	)	$	(42,118	)

Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Table Text Block]



	For the Years Ended December 31,
	2019			2018			2017
Expected U.S. federal tax expense at statutory rate	$	(26,382	)	$	(41,864	)	$	(41,593	)
Tax impact of REIT election	24,129			35,058			33,236
Expected tax expense at TRS	(2,253		)	(6,806		)	(8,357		)
Change in valuation allowance	(297		)	542			366
State income tax expense, net of federal benefit	(2,367		)	(1,463		)	(1,388		)
Reassessment of acquired NOLs	9,973			—			—
Impact of rate change	332			(51		)	(31,667		)
Other permanent items	(117		)	(566		)	(513		)
Impact of provision to return/deferred adjustments	(1,520		)	(449		)	(559		)
Income tax benefit (expense)	$	3,751		$	(8,793	)	$	(42,118	)

Schedule of deferred tax assets (liabilities)



	December 31, 2019			December 31, 2018
Deferred tax liabilities:
Prepaid expenses	$	(1,496	)	$	(1,298	)
Intangible assets	—			(1,468		)
Deferred tax liabilities	$	(1,496	)	$	(2,766	)

Deferred tax assets:
Property and equipment	$	1,786		$	2,639
Incentive and vacation accrual	3,878			4,595
Deferred revenue - key money	994			1,037
Allowance for doubtful accounts	65			156
Partnership basis	(977		)	573
Contingent liability	—			298
Other	421			1,077
Other carryforwards	—			—
Net operating loss carryforwards	57,109			57,248
Federal historic tax credit	824			824
Wyndham guarantee	10,192			—
Valuation allowance	(21,349		)	(21,052		)
Deferred tax assets	$	52,943		$	47,395

Supplemental Information to Statements of Cash Flows (Tables)

12 Months Ended

Dec. 31, 2019

Supplemental Cash Flow Elements [Abstract]

Schedule of supplemental information to statements of cash flows



	For the year ended December 31,
	2019			2018			2017
Reconciliation of cash, cash equivalents, and restricted cash reserves
Cash and cash equivalents	$	882,474		$	320,147		$	586,470
Restricted cash reserves	44,686			64,695			72,606
Cash, cash equivalents, and restricted cash reserves	$	927,160		$	384,842		$	659,076

Interest paid	$	97,259		$	114,280		$	65,211

Income taxes paid	$	4,090		$	1,836		$	1,176

Operating cash flow lease payments for operating leases	$	15,270

Supplemental investing and financing transactions
In conjunction with the sale of hotel properties, the Company recorded the following:
Sale of hotel properties	$	705,681		$	530,850		$	170,000
Escrow related to certain post-closing obligations	—			1,000			14,000
Purchase option for land subject to a ground lease	—			(44,831		)	—
Transaction costs	(10,482		)	(10,668		)	(4,564		)
Operating prorations	(9,329		)	(1,288		)	843
Proceeds from the sale of hotel properties, net	$	685,870		$	475,063		$	180,279

Supplemental non-cash transactions (1)
Change in fair market value of designated interest rate swaps	$	(33,459	)	$	7,349		$	13,748
Accrued capital expenditures	$	14,234		$	15,709		$	14,138
Distributions payable	$	64,165		$	65,557		$	65,284

(1) Refer to Note 3 for information related to the non-cash investing and financing activities associated with the merger with FelCor.

Quarterly Operating Results (unaudited) (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Schedule of quarterly financial information



	For the year ended December 31, 2019
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Total revenues	$	399,267	$	448,727	$	371,124	$	347,074
Net income	$	28,331	$	33,681	$	32,455	$	34,912
Net income attributable to common shareholders	$	20,974	$	27,165	$	26,184	$	28,404
Comprehensive income attributable to RLJ	$	10,867	$	11,799	$	26,784	$	43,836
Basic per share data (1):
Net income attributable to common shareholders	$	0.12	$	0.16	$	0.15	$	0.17
Diluted per share data (1):
Net income attributable to common shareholders	$	0.12	$	0.16	$	0.15	$	0.17
Basic weighted-average Common Shares outstanding	172,796,998		172,661,878		170,495,699		169,241,536
Diluted weighted-average Common Shares outstanding	172,856,230		172,766,091		170,600,787		169,376,667


(1)	The basic and diluted net income per share attributable to common shareholders are calculated independently for each of the quarters presented. Accordingly, the sum of the quarterly amounts may not agree with the total for the year presented.



	For the year ended December 31, 2018
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Total revenues	$	429,593	$	484,691	$	447,042	$	399,898
Net income	$	23,894	$	64,393	$	74,657	$	27,918
Net income attributable to common shareholders	$	17,410	$	57,435	$	67,696	$	20,987
Comprehensive income attributable to RLJ	$	41,546	$	70,650	$	78,650	$	5,146
Basic per share data (1):
Net income attributable to common shareholders	$	0.10	$	0.33	$	0.39	$	0.12
Diluted per share data (1):
Net income attributable to common shareholders	$	0.10	$	0.33	$	0.39	$	0.12
Basic weighted-average Common Shares outstanding	174,193,671		174,238,854		174,326,198		174,141,263
Diluted weighted-average Common Shares outstanding	174,268,815		174,364,547		174,479,341		174,194,141

(1)

Organization (Details)		12 Months Ended
Organization (Details)	Aug. 31, 2017 Rooms	Dec. 31, 2019 property	Dec. 31, 2018 property	Dec. 31, 2019 state	Dec. 31, 2019	Dec. 31, 2019 room	Dec. 31, 2019 shares	Jun. 30, 2019 property	Nov. 30, 2009 hotel
Sale of Stock
Number of OP units outstanding (in shares) \| shares							170,624,989
Company's ownership interest in the Operating Partnership		99.50%
Number of Real Estate Properties		104			37				1
Number of hotel rooms owned \| room						22,700
Number of states in which hotels owned by the entity are located \| state				23
The Knickerbocker New York [Member]
Sale of Stock
Number of hotel rooms owned \| Rooms	330
Real Estate Properties, Ownership Interest, Percentage	95.00%
Wholly Owned Properties [Member]
Sale of Stock
Number of Real Estate Properties		100
Real Estate Properties, Ownership Interest, Percentage		100.00%
Partially Owned Properties [Member] \| Doubletree Metropolitan Hotel New York City
Sale of Stock
Real Estate Properties, Ownership Interest, Percentage		98.30%
Partially Owned Properties [Member] \| Ninety Five Percent Owned [Member] \| The Knickerbocker New York [Member]
Sale of Stock
Real Estate Properties, Ownership Interest, Percentage		95.00%
Partially Owned Properties [Member] \| Fifty Percent Owned [Member]
Sale of Stock
Number of Real Estate Properties			2					2
Real Estate Properties, Ownership Interest, Percentage		50.00%	50.00%
Consolidated Properties [Member]
Sale of Stock
Number of Real Estate Properties		102
Unconsolidated Properties [Member]
Sale of Stock
Number of Real Estate Properties		2	0
Real Estate Properties, Ownership Interest, Percentage		50.00%
Leased Hotel Properties [Member]
Sale of Stock
Number of Real Estate Properties		103

Summary of Significant Accounting Policies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Jan. 01, 2019 USD ($)
Summary of Significant Accounting Policies
Real Estate Interests, Number of Joint Ventures	2
Equity Method Investment, Ownership Percentage	50.00%
Operating Lease, Right-of-Use Asset	$ 144,358	$ 0		$ 150,803
Minimum Percentage of Adjusted Taxable Income Currently Distributed to Qualify as REIT	90.00%
Operating Lease, Liability	$ 121,154	0		124,735
Amortization of deferred financing costs	$ 4,100	3,504	$ 3,499
Limited Partner's ownership interest in the Operating Partnership	99.50%
Number of subsequent taxable years for which entity will not qualify as REIT upon failure to qualify in any taxable year	4 years
Intangible Assets, Net (Excluding Goodwill)	$ 0	52,448		5,676
Accounts payable and other liabilities	$ 183,408	203,833		183,129
DBT Met Hotel Venture, LP
Summary of Significant Accounting Policies
Noncontrolling ownership interest of third party	1.70%
The Knickerbocker New York [Member]
Summary of Significant Accounting Policies
Noncontrolling ownership interest of third party	5.00%
Embassy Suites Secaucus [Member]
Summary of Significant Accounting Policies
Noncontrolling ownership interest of third party	49.00%
Land improvements
Summary of Significant Accounting Policies
Estimated useful lives	15 years
Building improvements
Summary of Significant Accounting Policies
Estimated useful lives	15 years
Buildings
Summary of Significant Accounting Policies
Estimated useful lives	40 years
Furniture, fixtures and equipment \| Minimum
Summary of Significant Accounting Policies
Estimated useful lives	3 years
Furniture, fixtures and equipment \| Maximum
Summary of Significant Accounting Policies
Estimated useful lives	5 years
Accounting Standards Update 2016-02 [Member]
Summary of Significant Accounting Policies
Operating Lease, Right-of-Use Asset				150,803
Operating Lease, Liability				124,735
Intangible Assets, Net (Excluding Goodwill)				(46,772)
Accounts payable and other liabilities				$ (20,704)
Prepaid Expenses and Other Current Assets \| Accounting Standards Update 2015-03
Summary of Significant Accounting Policies
Unamortized deferred financing costs	$ 3,400	$ 1,500

Merger with FelCor Lodging Trust Incorporated (Details) $ / shares in Units, $ in Thousands			1 Months Ended	12 Months Ended
	Oct. 15, 2018 USD ($)	Aug. 31, 2017 USD ($) Rooms $ / shares shares	Jun. 30, 2019 USD ($)	Dec. 31, 2019 USD ($) property $ / shares	Dec. 31, 2018 USD ($) $ / shares	Dec. 31, 2017 USD ($) $ / shares shares	Dec. 31, 2019 USD ($)	Dec. 31, 2019 $ / shares	Dec. 31, 2019	Dec. 31, 2019 room	Sep. 30, 2017 $ / shares	Nov. 30, 2009 hotel
Business Acquisition [Line Items]
Revenue						$ 1,893,899
Transaction costs in a business combination					$ (487)	38,391
Business Combination, Revenue recognized during the period						260,020
Number of Real Estate Properties				104					37			1
Sale of hotel properties				$ 705,681	$ 530,850	$ 170,000
Number of Units in Real Estate Property \| room										22,700
Common Stock, Par or Stated Value Per Share \| $ / shares		$ 0.01			$ 0.01			$ 0.01
Payments to Acquire Businesses, Net of Cash Acquired		$ 24,883
Preferred Stock, Par or Stated Value Per Share \| $ / shares					$ 0.01			0.01
Number of Businesses Acquired		37
Business Combination, Consideration Transferred		$ 1,412,388
Below Market Lease, Gross					$ 50,267		$ 0
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life						46 years
Other Intangible Assets, Gross					7,500		1,100
Business Combination, Net Income recognized during the period						$ 14,994
Integration costs in a business combination					2,050	5,696
Total merger-related costs of a business combination					$ 1,563	44,087
Net income attributable to common shareholders						$ 110,231
Business Acquisition, Pro Forma Earnings Per Share, Basic \| $ / shares						$ 0.63
Business Acquisition, Pro Forma Earnings Per Share, Diluted \| $ / shares						$ 0.63
Weighted Average Basic Shares Outstanding, Pro Forma \| shares						174,142,918
Pro Forma Weighted Average Shares Outstanding, Diluted \| shares						174,220,129
Debt Instrument, Fair Value Adjustment, Net							$ 27,900
Common Stock
Business Acquisition [Line Items]
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable		$ 1,016,227
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares \| shares		50,400,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Share Price \| $ / shares		$ 20.18
Series A Cumulative Preferred Stock [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable		$ 366,936
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 \| $ / shares		$ 28.49
Preferred Stock, Dividend Rate, Per-Dollar-Amount \| $ / shares				$ 1.95
Preferred Stock, Par or Stated Value Per Share \| $ / shares					$ 0.01			$ 0.01
Partnership Interest [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable		$ 4,342
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Share Price \| $ / shares		$ 20.18
Business Acquisition, Common Units Issued or Issuable, Number of Units \| shares		200,000
DoubleTree Suites by Hilton Austin [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		188
DoubleTree Suites by Hilton Orlando - Lake Buena Vista [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		229
Embassy Suites Atlanta Buckhead [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		316
Embassy Suites Birmingham [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		242
Embassy Suites Boston Marlborough [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		229
Embassy Suites Dallas Love Field [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		248
Embassy Suites Deerfield Beach [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		244
Embassy Suites Fort Lauderdale 17th Street [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		361
Embassy Suites Los Angeles International Airport South [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		349
Embassy Suites Mandalay Beach [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		250
Embassy Suites Miami International Airport [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		318
Embassy Suites Milpitas Silicon Valley [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		266
Embassy Suites Minneapolis Airport [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		310
Embassy Suites Myrtle Beach [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		255
Embassy Suites Napa Valley [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		205
Embassy Suites Orlando International Drive [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		244
Embassy Suites Phoenix Biltmore [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		232
Embassy Suites San Francisco Airport South San Francisco [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		312
Embassy Suites San Francisco Airport Waterfront [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		340
Embassy Suites Secaucus [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		50.00%
Number of Units in Real Estate Property \| Rooms		261
Hilton Myrtle Beach Resort [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		385
Holiday Inn San Francisco Fisherman's Wharf [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		585
San Francisco Marriott Union Square [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		400
Sheraton Burlington Hotel & Conference Center [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		309
Sheraton Philadelphia Society Hill Hotel [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		364
Fairmont Copley Plaza [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		383
The Knickerbocker New York [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		95.00%
Number of Units in Real Estate Property \| Rooms		330
Mills House Wyndham Grand Hotel [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		216
Vinoy Renaissance St. Petersburg Resort & Golf Club [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		361
Wyndham Boston Beacon Hill [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		304
Wyndham Houston Medical Center [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		287
Wyndham New Orleans French Quarter [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		374
Wyndham Philadelphia Historic District [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		364
Wyndham Pittsburgh University Center [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		251
Wyndham San Diego Bayside [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		600
Wyndham Santa Monica At The Pier [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property \| Rooms		132
Chateau LeMoyne French Quarter, New Orleans [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		50.00%
Number of Units in Real Estate Property \| Rooms		171
FelCor Lodging LP [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Real Estate Investment, Net		$ 2,661,114
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Equity Investments		25,651
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables		28,308
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets		58,170
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		139,673
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets		23,811
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt		(1,305,337)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable		(118,360)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue		(23,795)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Interest Payable		(22,612)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Dividends Payable		(4,312)
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value		(5,493)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Preferred equity in a consolidated joint venture		(44,430)
Below Market Lease, Gross		118,050
Advanced Bookings		13,862
Other Intangible Assets, Gross		7,761
Total intangible assets		$ 139,673
FelCor Lodging Trust [Member]
Business Acquisition [Line Items]
Number of Units in Real Estate Property \| Rooms		11,215
FelCor Lodging Trust [Member]
Business Acquisition [Line Items]
Common Stock, Par or Stated Value Per Share \| $ / shares		$ 0.01
Common Stock, Conversion Basis						0.362
Preferred Stock, Dividend Rate, Per-Dollar-Amount \| $ / shares						$ 1.95
Preferred Stock, Par or Stated Value Per Share \| $ / shares		$ 0.01
RLJ Lodging Trust [Member] \| Series A Cumulative Preferred Stock [Member]
Business Acquisition [Line Items]
Preferred Stock, Dividend Rate, Per-Dollar-Amount \| $ / shares				$ 1.95		$ 1.95
Preferred Stock, Par or Stated Value Per Share \| $ / shares											$ 0.01
Below market ground leases [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life						54 years
Other finite-lived intangible assets [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life						6 years
Advanced Bookings [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life						1 year
Embassy Suites Myrtle Beach & Hilton Myrtle Beach Resort [Member]
Business Acquisition [Line Items]
Number of Real Estate Properties			2
Proceeds from Sale of Real Estate			$ 153,300
Vinoy Renaissance St. Petersburg Resort & Golf Club [Member]
Business Acquisition [Line Items]
Proceeds from Sale of Real Estate				$ 185,000
Sheraton Philadelphia Society Hill Hotel [Member]
Business Acquisition [Line Items]
Proceeds from Sale of Real Estate				95,500
Sheraton Burlington Hotel & Conference Center [Member]
Business Acquisition [Line Items]
Proceeds from Sale of Real Estate				35,000
Holiday Inn San Francisco Fisherman's Wharf [Member]
Business Acquisition [Line Items]
Proceeds from Sale of Real Estate	$ 75,300			75,300
Embassy Suites Napa Valley [Member]
Business Acquisition [Line Items]
Proceeds from Sale of Real Estate				102,000
Embassy Suites Boston Marlborough [Member]
Business Acquisition [Line Items]
Proceeds from Sale of Real Estate				$ 23,700

Investment in Hotel Properties - Investment in Hotel Properties (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Land and improvements	$ 1,088,436	$ 1,209,416
Buildings and improvements	4,039,012	4,694,490
Furniture, fixtures and equipment	685,699	813,797
Total	5,813,147	6,717,703
Accumulated depreciation	(1,198,181)	(1,339,052)
Investment in hotel properties, net	$ 4,614,966	$ 5,378,651

Investment in Hotel Properties - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense related to investment in hotel properties	$ 209,600	$ 233,800	$ 182,000
Impairment loss	13,500	0	0
Proceeds from the sale of hotel properties, net	$ 685,870	$ 475,063	$ 180,279

Investment in Unconsolidated Joint Ventures (Details)	12 Months Ended
Investment in Unconsolidated Joint Ventures (Details)	Dec. 31, 2019 USD ($) property	Dec. 31, 2018 USD ($) property	Dec. 31, 2017 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2019	Jun. 30, 2019 property	Nov. 30, 2009 hotel
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	$ (1,673,000)	$ 636,000	$ 133,000
Equity Method Investments		22,279,000		$ 15,171,000
Equity Method Investment, Ownership Percentage					50.00%
Number of Real Estate Properties	104				37		1
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	$ (9,300,000)	$ 30,941,000	8,980,000
Unconsolidated Properties [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage		0.00%			50.00%
Number of Real Estate Properties \| property	2	0
Real Estate Properties, Ownership Interest, Percentage	50.00%
Equity Method Investments [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	$ 1,667,000	$ 2,105,000	623,000
Equity Method Investments		117,000		(4,236,000)
Cost in Excess of Book Value of Hotel Investments [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	(1,265,000)	(1,469,000)	(490,000)
Equity Method Investments		22,162,000		$ 19,407,000
Gain (Loss) on Sale of Unconsolidated Hotel Investments [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	$ (2,075,000)	$ 0	$ 0
Fifty Percent Owned [Member] \| Partially Owned Properties [Member]
Schedule of Equity Method Investments [Line Items]
Number of Real Estate Properties \| property		2				2
Real Estate Properties, Ownership Interest, Percentage	50.00%	50.00%
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	$ (2,100,000)

Intangible Assets (Details) $ in Thousands	1 Months Ended	12 Months Ended
Intangible Assets (Details) $ in Thousands	Jun. 30, 2019 USD ($)	Dec. 31, 2019 USD ($) property	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2019	Nov. 30, 2009 hotel
Finite-Lived Intangible Assets [Line Items]
Number of Real Estate Properties		104				37	1
Amortization of Intangible Assets		$ 1,100	$ 10,200	$ 5,700
Other Intangible Assets, Gross			7,500		$ 1,100
Finite-Lived Intangible Assets, Accumulated Amortization			(2,458)		(1,100)
Finite-Lived Intangible Assets, Net			5,042		0
Advanced Bookings, Gross			1,902		1,902
Advanced Bookings, Accumulated Amortization			(1,268)		(1,902)
Advanced Bookings, Net			634		0
Below Market Lease, Accumulated Amortization			(3,495)		0
Below Market Lease, Net			46,772		0
Below Market Lease, Gross			50,267		0
Intangible Assets, Gross (Excluding Goodwill)			59,669		3,002
Intangible Assets, Net			52,448		0
Intangible Assets, Accumulated Amortization			$ (7,221)		$ (3,002)
Embassy Suites Myrtle Beach & Hilton Myrtle Beach Resort [Member]
Finite-Lived Intangible Assets [Line Items]
Number of Real Estate Properties	2
Indefinite-lived Intangible Assets, Written off Related to Sale of Business Unit	$ 4,500

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Revenue (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Total revenues	$ 347,074	$ 371,124	$ 448,727	$ 399,267	$ 399,898	$ 447,042	$ 484,691	$ 429,593	$ 1,566,192	$ 1,761,224	$ 1,356,261
Northern California
Disaggregation of Revenue [Line Items]
Total revenues									227,294	261,838	158,683
Southern California [Member]
Disaggregation of Revenue [Line Items]
Total revenues									152,295	155,142	90,442
New York City [Member]
Disaggregation of Revenue [Line Items]
Total revenues									151,871	154,558	113,807
South Florida
Disaggregation of Revenue [Line Items]
Total revenues									145,084	161,346	117,548
Austin, Texas [Member]
Disaggregation of Revenue [Line Items]
Total revenues									89,663	97,227	93,271
Chicago, Illinois
Disaggregation of Revenue [Line Items]
Total revenues									85,710	88,632	85,378
Denver, Colorado [Member]
Disaggregation of Revenue [Line Items]
Total revenues									68,638	83,490	87,407
Houston, Texas
Disaggregation of Revenue [Line Items]
Total revenues									64,073	69,937	64,506
Washington, D.C.
Disaggregation of Revenue [Line Items]
Total revenues									63,303	70,960	74,452
Louisville, Kentucky
Disaggregation of Revenue [Line Items]
Total revenues									61,246		60,972
Tampa [Member]
Disaggregation of Revenue [Line Items]
Total revenues										64,573
Other Markets
Disaggregation of Revenue [Line Items]
Total revenues									457,015	553,521	409,795
Occupancy [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									1,317,085	1,473,047	1,146,882
Occupancy [Member] \| Northern California
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									201,667	233,394	143,717
Occupancy [Member] \| Southern California [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									126,959	129,634	77,617
Occupancy [Member] \| New York City [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									130,702	133,728	101,544
Occupancy [Member] \| South Florida
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									117,252	133,527	97,734
Occupancy [Member] \| Austin, Texas [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									76,438	84,183	81,370
Occupancy [Member] \| Chicago, Illinois
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									70,469	73,497	70,119
Occupancy [Member] \| Denver, Colorado [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									55,063	69,603	72,781
Occupancy [Member] \| Houston, Texas
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									55,955	61,811	58,333
Occupancy [Member] \| Washington, D.C.
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									59,257	66,130	68,795
Occupancy [Member] \| Louisville, Kentucky
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									40,627		43,654
Occupancy [Member] \| Tampa [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax										38,169
Occupancy [Member] \| Other Markets
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									382,696	449,371	331,218
Food and Beverage [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									177,499	205,518	157,672
Food and Beverage [Member] \| Northern California
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									19,752	20,872	11,064
Food and Beverage [Member] \| Southern California [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									15,306	16,662	8,693
Food and Beverage [Member] \| New York City [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									16,410	16,633	9,143
Food and Beverage [Member] \| South Florida
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									19,720	20,547	14,924
Food and Beverage [Member] \| Austin, Texas [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									9,453	9,382	9,007
Food and Beverage [Member] \| Chicago, Illinois
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									13,102	13,106	13,575
Food and Beverage [Member] \| Denver, Colorado [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									12,224	12,596	13,185
Food and Beverage [Member] \| Houston, Texas
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									3,763	3,789	3,033
Food and Beverage [Member] \| Washington, D.C.
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									1,703	2,460	3,208
Food and Beverage [Member] \| Louisville, Kentucky
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									18,246		14,890
Food and Beverage [Member] \| Tampa [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax										17,296
Food and Beverage [Member] \| Other Markets
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									47,820	72,175	56,950
Hotel, Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									71,608	82,659	51,707
Hotel, Other [Member] \| Northern California
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									5,875	7,572	3,902
Hotel, Other [Member] \| Southern California [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									10,030	8,846	4,132
Hotel, Other [Member] \| New York City [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									4,759	4,197	3,120
Hotel, Other [Member] \| South Florida
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									8,112	7,272	4,890
Hotel, Other [Member] \| Austin, Texas [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									3,772	3,662	2,894
Hotel, Other [Member] \| Chicago, Illinois
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									2,139	2,029	1,684
Hotel, Other [Member] \| Denver, Colorado [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									1,351	1,291	1,441
Hotel, Other [Member] \| Houston, Texas
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									4,355	4,337	3,140
Hotel, Other [Member] \| Washington, D.C.
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									2,343	2,370	2,449
Hotel, Other [Member] \| Louisville, Kentucky
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									2,373		2,428
Hotel, Other [Member] \| Tampa [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax										9,108
Hotel, Other [Member] \| Other Markets
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax									$ 26,499	$ 31,975	$ 21,627

Sale of Hotel Properties - Properties Disposed (Details)							1 Months Ended	3 Months Ended	12 Months Ended
	Nov. 22, 2019 USD ($) hotel	Sep. 12, 2019 USD ($)	Aug. 14, 2019 USD ($) hotel	Jun. 27, 2019 USD ($) hotel	Jun. 25, 2019 USD ($) hotel	Oct. 15, 2018 USD ($) room	Sep. 30, 2017 USD ($)	Sep. 30, 2017 USD ($)	Dec. 31, 2019 USD ($) property increment hotel	Dec. 31, 2018 USD ($) room	Dec. 31, 2017 USD ($) room	Dec. 31, 2019	Dec. 31, 2019 room	Sep. 27, 2018 room	Aug. 28, 2018 room	Aug. 07, 2018 room	Jul. 13, 2018 room	Mar. 27, 2018 room	Feb. 21, 2018 room	Dec. 14, 2017 room	Nov. 30, 2009 hotel
Sale of Hotel Properties
Number of Real Estate Properties									104			37									1
Gain (Loss) on Investments \| $								$ 2,700,000	$ 0	$ 0	$ 2,670,000
Investment Owned, Balance, Principal Amount \| $							$ 10,100,000	$ 10,100,000
Sale of hotel properties \| $									705,681,000	530,850,000	170,000,000
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property \| $									(9,300,000)	30,941,000	8,980,000
Gain (Loss) on Extinguishment of Debt \| $									(214,000)	5,996,000	0
Payments for (Proceeds from) Investments \| $							$ 12,800,000		0	0	(12,792,000)
Proceeds from the sale of hotel properties, net \| $									685,870,000	475,063,000	$ 180,279,000
Courtyard Boulder Longmont [Member]
Sale of Hotel Properties
Rooms													78
Embassy Suites Boston Marlborough & Sheraton Philadelphia Society Hill [Member]
Sale of Hotel Properties
Gain (Loss) on Extinguishment of Debt \| $										$ 5,100,000
Embassy Suites Boston Marlborough [Member]
Sale of Hotel Properties
Proceeds from Sale of Real Estate \| $									23,700,000
Rooms																			229
Disposals 2018 [Member]
Sale of Hotel Properties
Number of properties disposed \| $										7
Sale of hotel properties \| $										$ 530,900,000
Rooms										2,206
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property \| $										$ 30,300,000
Sheraton Philadelphia Society Hill Hotel [Member]
Sale of Hotel Properties
Proceeds from Sale of Real Estate \| $									95,500,000
Rooms																		364
Embassy Suites Napa Valley [Member]
Sale of Hotel Properties
Proceeds from Sale of Real Estate \| $									102,000,000.0
Rooms																	205
Doubletree Hotel Columbia [Member]
Sale of Hotel Properties
Rooms																152
Vinoy Renaissance St. Petersburg Resort & Golf Club [Member]
Sale of Hotel Properties
Proceeds from Sale of Real Estate \| $									185,000,000.0
Rooms															362
Sheraton Burlington Hotel & Conference Center [Member]
Sale of Hotel Properties
Proceeds from Sale of Real Estate \| $									35,000,000.0
Rooms														309
Holiday Inn San Francisco Fisherman's Wharf [Member]
Sale of Hotel Properties
Proceeds from Sale of Real Estate \| $						$ 75,300,000			$ 75,300,000
Proceeds to RLJ on the Sale of Real Estate \| $						$ 30,400,000
Rooms						585
2017 Hotel Disposals
Sale of Hotel Properties
Number of properties disposed \| $											1
Sale of hotel properties \| $											$ 170,000,000.0
Rooms											383
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property \| $											$ 600,000
Fairmont Copley Plaza [Member]
Sale of Hotel Properties
Rooms																				383
Courtyard Salt Lake City Airport [Member]
Sale of Hotel Properties
Rooms													154
Courtyard Fort Lauderdale SW Maramar [Member]
Sale of Hotel Properties
Rooms													128
Courtyard Austin Airport [Member]
Sale of Hotel Properties
Rooms													150
Fairfield Inn & Suites San Antonio Downtown [Member]
Sale of Hotel Properties
Rooms													110
Hampton Inn & Suites Clearwater St. Petersburg [Member]
Sale of Hotel Properties
Rooms													128
Hampton Inn Fort Walton Beach [Member]
Sale of Hotel Properties
Rooms													100
Hampton Inn & Suites Denver Tech Center [Member]
Sale of Hotel Properties
Rooms													123
Hampton Inn West Palm Beach Airport Central [Member]
Sale of Hotel Properties
Rooms													105
Hilton Garden Inn Bloomington [Member]
Sale of Hotel Properties
Rooms													168
Hilton Garden Inn West Palm Beach Airport [Member]
Sale of Hotel Properties
Rooms													100
Hilton Garden Inn Durham Raleigh Research Triangle Park [Member]
Sale of Hotel Properties
Rooms													177
Residence Inn Longmont Boulder [Member]
Sale of Hotel Properties
Rooms													84
Residence Inn Detroit Novi [Member]
Sale of Hotel Properties
Rooms													107
Residence Inn Chicago Oak Brook [Member]
Sale of Hotel Properties
Rooms													156
Residence Inn Fort Lauderdale Plantation [Member]
Sale of Hotel Properties
Rooms													138
Residence Inn Salt Lake City Airport [Member]
Sale of Hotel Properties
Rooms													104
Residence Inn San Antonio Downtown Market Square [Member]
Sale of Hotel Properties
Rooms													95
Residence Inn Fort Lauderdale SW Miramar [Member]
Sale of Hotel Properties
Rooms													130
Residence Inn Silver Spring [Member]
Sale of Hotel Properties
Rooms													130
Springhill Suites Boulder Longmont [Member]
Sale of Hotel Properties
Rooms													90
Embassy Suites Myrtle Beach - Oceanfront Resort [Member]
Sale of Hotel Properties
Rooms													255
Hilton Myrtle Beach Resort [Member]
Sale of Hotel Properties
Rooms													385
Courtyard Austin Northwest Arboretum [Member]
Sale of Hotel Properties
Rooms													102
Courtyard Denver West Golden [Member]
Sale of Hotel Properties
Rooms													110
Courtyard Boulder Louisville [Member]
Sale of Hotel Properties
Rooms													154
Courtyard Louisville Northeast [Member]
Sale of Hotel Properties
Rooms													114
Courtyard South Bend Mishawaka [Member]
Sale of Hotel Properties
Rooms													78
Hampton Inn Houston Galleria [Member]
Sale of Hotel Properties
Rooms													176
Hyatt House Houston Galleria [Member]
Sale of Hotel Properties
Rooms													147
Hyatt House Austin Arboretum [Member]
Sale of Hotel Properties
Rooms													131
Hyatt House Dallas Lincoln Park [Member]
Sale of Hotel Properties
Rooms													155
Hyatt House Dallas Uptown [Member]
Sale of Hotel Properties
Rooms													141
Residence Inn Austin Northwest Arboretum [Member]
Sale of Hotel Properties
Rooms													84
Residence inn Austin North Parmer Lane [Member]
Sale of Hotel Properties
Rooms													88
Residence Inn Denver West Golden [Member]
Sale of Hotel Properties
Rooms													88
Residence Inn Boulder Louisville [Member]
Sale of Hotel Properties
Rooms													88
Residence Inn Louisville Northeast [Member]
Sale of Hotel Properties
Rooms													102
Springhill Suites Austin North Parmer Lane [Member]
Sale of Hotel Properties
Rooms													132
Springhill Suites Louisville Hurstbourne North [Member]
Sale of Hotel Properties
Rooms													142
Springhill Suites South Bend Mishawaka [Member]
Sale of Hotel Properties
Rooms													87
Residence Inn Columbia [Member]
Sale of Hotel Properties
Rooms													108
Courtyard Austin South [Member]
Sale of Hotel Properties
Rooms													110
Fairfield Inn Austin South [Member]
Sale of Hotel Properties
Rooms													63
Marriott Airport Austin South [Member]
Sale of Hotel Properties
Rooms													211
Residence Inn Austin South Airport [Member]
Sale of Hotel Properties
Rooms													66
Spring Hill Suites Austin South Airport [Member]
Sale of Hotel Properties
Rooms													152
Disposals 2019 [Member]
Sale of Hotel Properties
Number of properties disposed \| hotel	5		18	2	21				47
Rooms													6,024
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property \| $	$ 16,400,000	$ 300,000	$ (49,200,000)	$ (21,500,000)	$ 44,700,000				$ (9,300,000)
Disposal Group, Number of Transactions \| increment									5
Proceeds from the sale of hotel properties, net \| $	$ 67,600,000	$ 12,700,000	$ 175,400,000	$ 153,300,000	$ 311,900,000				$ 721,000,000.0

Debt - Credit Facilities (Details) - USD ($)	9 Months Ended	12 Months Ended
Debt - Credit Facilities (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Additional maturity term		$ 750,000,000.0	$ 750,000,000
Debt Instrument, Fair Value Adjustment, Net		27,900,000
Early Repayment of Senior Secured Notes		112,000	539,026,000	$ 990,000
Gain (Loss) on Extinguishment of Debt		(214,000)	5,996,000	$ 0
Unamortized debt issuance costs on term loans		(6,207,000)	(5,835,000)
Unsecured Debt, Gross		1,175,000,000	1,175,000,000
Long-term Debt		$ 2,195,707,000	2,202,676,000
Revolving Credit Facility and Term Loans \| Minimum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		1.35%
Revolving Credit Facility and Term Loans \| Maximum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		2.20%
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage		103.00%
Revolving Credit Facility and Term Loans
Debt Instrument [Line Items]
Unsecured Debt		$ 1,168,793,000	1,169,165,000
Unsecured Debt \| $400 Million Term Loan Maturing 2021
Debt Instrument [Line Items]
Maximum borrowing capacity		400,000,000.0
Unsecured Debt \| $400 Million Term Loan Maturing 2019
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 400,000,000.0
Interest Rate		3.78%
Unsecured Debt		$ 400,000,000	400,000,000
Unsecured Debt \| $225 Million Term Loan Maturing 2019
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 225,000,000.0
Interest Rate		3.78%
Unsecured Debt		$ 225,000,000	225,000,000
Unsecured Debt \| $150 Million Term Loan Maturing 2022
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 150,000,000.0
Interest Rate		3.08%
Unsecured Debt		$ 150,000,000	150,000,000
Unsecured Debt \| Six Point Zero Zero Percent Due June 2025 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		6.00%
Unsecured Debt \| $400 Million Term Loan Maturing 2025 [Member]
Debt Instrument [Line Items]
Interest Rate		2.92%
Unsecured Debt		$ 400,000,000	$ 400,000,000
The Revolver \| The Revolver [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 600,000,000.0
Debt Instrument, Additional Maturity Term	1 year		1 year
Interest Rate		3.21%
Line of Credit Facility, Remaining Borrowing Capacity		$ 600,000,000.0	$ 600,000,000
Unsecured Debt		$ 0	0
The Revolver \| The Revolver [Member] \| Minimum
Debt Instrument [Line Items]
Unused facility fee percentage		0.20%
The Revolver \| The Revolver [Member] \| Maximum
Debt Instrument [Line Items]
Unused facility fee percentage		0.25%
Accounting Standards Update 2015-03 \| Prepaid Expenses and Other Current Assets
Debt Instrument [Line Items]
Unamortized deferred financing costs on the Revolver		$ 3,400,000	1,500,000
Senior Unsecured Notes [Member] \| Unsecured Debt
Debt Instrument [Line Items]
Debt Instrument, Fair Value Adjustment, Net		$ 25,600,000	30,300,000
Embassy Suites Boston Marlborough & Sheraton Philadelphia Society Hill [Member]
Debt Instrument [Line Items]
Gain (Loss) on Extinguishment of Debt			$ 5,100,000

Debt - Mortgage Loans (Details)	1 Months Ended	9 Months Ended	12 Months Ended
Debt - Mortgage Loans (Details)	Apr. 30, 2019 USD ($)	Sep. 30, 2019	Dec. 31, 2019 USD ($) property	Dec. 31, 2018 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2019	Dec. 31, 2019 asset	Nov. 30, 2009 hotel
Debt Instrument [Line Items]
Secured Debt, Gross				$ 528,622,000	$ 530,299,000
Unamortized debt issuance costs on mortgage loans				(433,000)	(3,869,000)
Number of Real Estate Properties			104			37		1
Additional maturity term			$ 750,000,000.0	750,000,000
Fair value adjustment					27,900,000
Mortgage Loans
Debt Instrument [Line Items]
Number of Assets Encumbered \| asset							19
Mortgage Loans \| Wells Fargo 1
Debt Instrument [Line Items]
Number of Assets Encumbered \| asset							0
Interest Rate						0.00%
Secured Debt				140,250,000	0
Mortgage Loans \| Wells Fargo 2
Debt Instrument [Line Items]
Number of Assets Encumbered \| asset							0
Interest Rate						0.00%
Secured Debt				150,000,000	0
Mortgage Loans \| Wells Fargo 3
Debt Instrument [Line Items]
Fair value adjustment				600,000	500,000
Three Point Three Three Percent Due April 2022 [Member] \| Mortgage Loans
Debt Instrument [Line Items]
Number of Assets Encumbered \| asset							7
Interest Rate						3.33%
Secured Debt				0	200,000,000
Five Point Two Five Percent Due June 2022 [Member] \| Mortgage Loans
Debt Instrument [Line Items]
Number of Assets Encumbered \| asset							1
Interest Rate						5.25%
Secured Debt				32,066,000	31,215,000
Four Point Nine Five Percent Due October 2022 [Member] \| Mortgage Loans
Debt Instrument [Line Items]
Number of Assets Encumbered \| asset							3
Debt Instrument, Interest Rate, Stated Percentage						4.95%
Secured Debt				91,737,000	89,299,000
Fair value adjustment				1,900,000	1,400,000
Four Point Nine Four Percent Due October 2022 [Member] \| Mortgage Loans
Debt Instrument [Line Items]
Number of Assets Encumbered \| asset							1
Debt Instrument, Interest Rate, Stated Percentage						4.94%
Secured Debt				29,569,000	28,785,000
Fair value adjustment				600,000	400,000
Three Point Three Eight Percent Due April 2024 [Member] \| Mortgage Loans
Debt Instrument [Line Items]
Number of Assets Encumbered \| asset							4
Interest Rate						3.38%
Secured Debt				85,000,000	85,000,000
Two Point Eight Eight Percent Due April 2024 [Member] \| Mortgage Loans
Debt Instrument [Line Items]
Number of Assets Encumbered \| asset							3
Interest Rate						2.88%
Secured Debt				0	96,000,000
The Revolver [Member] \| The Revolver
Debt Instrument [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity				$ 600,000,000	$ 600,000,000.0
Interest Rate						3.21%
Debt Instrument, Additional Maturity Term		1 year		1 year
LIBOR Plus One Point Five Two Percent [Member] \| Mortgage Loans
Debt Instrument [Line Items]
Number of additional maturity terms	2
Debt Instrument, Additional Maturity Term	1 year
Debt Instrument, Description of Variable Rate Basis	LIBOR
Debt Instrument, Basis Spread on Variable Rate	1.52%
Libor Plus One Point Six Zero Percent due April 2026 [Member]
Debt Instrument [Line Items]
Secured Debt	$ 85,000,000.0
Number of hotels encumbered by loans that are cross-collateralized	5
Number of Real Estate Properties	4
Debt Instrument, Description of Variable Rate Basis	LIBOR
Debt Instrument, Basis Spread on Variable Rate	1.60%
LIBOR Plus One Point Six Zero Percent [Member] \| Mortgage Loans
Debt Instrument [Line Items]
Number of additional maturity terms	2
Debt Instrument, Additional Maturity Term	1 year
Debt Instrument, Description of Variable Rate Basis	LIBOR
Debt Instrument, Basis Spread on Variable Rate	1.60%

Debt - Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
Debt - Interest Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Amortization of deferred financing costs	$ 4,100	$ 3,504	$ 3,499
Undesignated interest rate swaps	376	0	0
Total interest expense	91,295	101,643	78,322
Senior Notes [Member]
Debt Instrument [Line Items]
Interest expense	23,793	28,428	15,918
Revolving Credit Facility and Term Loans
Debt Instrument [Line Items]
Interest expense	42,272	43,458	39,262
Mortgage Loans
Debt Instrument [Line Items]
Interest expense	$ 20,754	$ 26,253	$ 19,643

Debt - Future Minimum Rental Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
2020	$ 3,098
2021	3,557
2022	490,386
2023	625,000
2024	181,000
Thereafter	874,888
Total debt	2,195,707	$ 2,202,676
Fair value adjustment	27,900
Long term debt, total future minimum principal payments	$ 2,177,929

Derivatives and Hedging (Details) - USD ($)	12 Months Ended
Derivatives and Hedging (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Financial Instruments: Derivatives and Hedging
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	$ (376,000)	$ 0	$ 0
Notional value	1,674,000,000	2,083,250,000
Interest rate swaps, net	(19,514,000)	(16,195,000)
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax	19,500,000	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	$ 0
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	(4,100,000)
Not Designated as Hedging Instrument [Member]
Financial Instruments: Derivatives and Hedging
Notional value	279,750,000	0
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	(376,000)	0
Not Designated as Hedging Instrument [Member] \| Swap-cash flow 1
Financial Instruments: Derivatives and Hedging
Notional value	$ 30,195,000	0
Hedge interest rate	1.80%
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	$ (34,000)	0
Not Designated as Hedging Instrument [Member] \| Swap-cash flow 2
Financial Instruments: Derivatives and Hedging
Notional value	$ 75,030,000	0
Hedge interest rate	1.80%
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	$ (86,000)	0
Not Designated as Hedging Instrument [Member] \| Swap-cash flow 3
Financial Instruments: Derivatives and Hedging
Notional value	$ 32,025,000	0
Hedge interest rate	1.80%
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	$ (37,000)	0
Not Designated as Hedging Instrument [Member] \| Swap-cash flow 4
Financial Instruments: Derivatives and Hedging
Notional value	$ 142,500,000	0
Hedge interest rate	1.81%
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	$ (219,000)	0
Designated as Hedging Instrument \| Swap-cash flow 2
Financial Instruments: Derivatives and Hedging
Notional value	$ 0	125,000,000
Hedge interest rate	2.02%
Interest rate swaps, fair value, liabilities		(148,000)
Interest rate swaps, fair value, assets	$ 0
Designated as Hedging Instrument \| Swap-cash flow 3
Financial Instruments: Derivatives and Hedging
Notional value	$ 0	100,000,000
Hedge interest rate	1.94%
Interest rate swaps, fair value, liabilities		(136,000)
Interest rate swaps, fair value, assets	$ 0
Designated as Hedging Instrument \| Swap-cash flow 4
Financial Instruments: Derivatives and Hedging
Notional value	$ 0	125,000,000
Hedge interest rate	1.27%
Interest rate swaps, fair value, liabilities		(447,000)
Interest rate swaps, fair value, assets	$ 0
Designated as Hedging Instrument \| Swap-cash flow 5
Financial Instruments: Derivatives and Hedging
Notional value	$ 0	100,000,000
Hedge interest rate	1.96%
Interest rate swaps, fair value, liabilities		(153,000)
Interest rate swaps, fair value, assets	$ 0
Designated as Hedging Instrument \| Swap-cash flow 6
Financial Instruments: Derivatives and Hedging
Notional value	$ 0	50,000,000
Hedge interest rate	1.85%
Interest rate swaps, fair value, liabilities		(93,000)
Interest rate swaps, fair value, assets	$ 0
Designated as Hedging Instrument \| Swap-cash flow 7
Financial Instruments: Derivatives and Hedging
Notional value	$ 0	50,000,000
Hedge interest rate	1.81%
Interest rate swaps, fair value, liabilities		(99,000)
Interest rate swaps, fair value, assets	$ 0
Designated as Hedging Instrument \| Swap-cash flow 8
Financial Instruments: Derivatives and Hedging
Notional value	$ 0	25,000,000
Hedge interest rate	1.74%
Interest rate swaps, fair value, liabilities		(54,000)
Interest rate swaps, fair value, assets	$ 0
Designated as Hedging Instrument \| Swap-cash flow 9
Financial Instruments: Derivatives and Hedging
Notional value	$ 0	30,855,000
Hedge interest rate	1.80%
Interest rate swaps, fair value, liabilities		(370,000)
Interest rate swaps, fair value, assets	$ 0
Designated as Hedging Instrument \| Swap-cash flow 10
Financial Instruments: Derivatives and Hedging
Notional value	$ 0	76,670,000
Hedge interest rate	1.80%
Interest rate swaps, fair value, liabilities		(919,000)
Interest rate swaps, fair value, assets	$ 0
Designated as Hedging Instrument \| Swap-cash flow 11
Financial Instruments: Derivatives and Hedging
Notional value	$ 0	32,725,000
Hedge interest rate	1.80%
Interest rate swaps, fair value, liabilities		(392,000)
Interest rate swaps, fair value, assets	$ 0
Designated as Hedging Instrument \| Swap-cash flow 12
Financial Instruments: Derivatives and Hedging
Notional value	$ 0	143,000,000
Hedge interest rate	1.81%
Interest rate swaps, fair value, liabilities		(1,808,000)
Interest rate swaps, fair value, assets	$ 0
Designated as Hedging Instrument \| Swap-cash flow 13
Financial Instruments: Derivatives and Hedging
Notional value	$ 100,000,000	100,000,000
Hedge interest rate	1.15%
Interest rate swaps, fair value, liabilities		(3,072,000)
Interest rate swaps, fair value, assets	$ (607,000)
Designated as Hedging Instrument \| Swap-cash flow 14
Financial Instruments: Derivatives and Hedging
Notional value	$ 100,000,000	100,000,000
Hedge interest rate	1.20%
Interest rate swaps, fair value, liabilities		(2,955,000)
Interest rate swaps, fair value, assets	$ (538,000)
Designated as Hedging Instrument \| Swap-cash flow 15
Financial Instruments: Derivatives and Hedging
Notional value	$ 75,000,000	75,000,000
Hedge interest rate	2.15%
Interest rate swaps, fair value, liabilities	$ (590,000)	(539,000)
Designated as Hedging Instrument \| Swap-cash flow 16
Financial Instruments: Derivatives and Hedging
Notional value	$ 75,000,000	75,000,000
Hedge interest rate	1.91%
Interest rate swaps, fair value, liabilities	$ (337,000)	(967,000)
Designated as Hedging Instrument \| Swap-cash flow 17
Financial Instruments: Derivatives and Hedging
Notional value	$ 50,000,000	50,000,000
Hedge interest rate	1.61%
Interest rate swaps, fair value, liabilities	$ (32,000)	(1,057,000)
Designated as Hedging Instrument \| Swap-cash flow 18
Financial Instruments: Derivatives and Hedging
Notional value	$ 50,000,000	50,000,000
Hedge interest rate	1.56%
Interest rate swaps, fair value, liabilities		(1,129,000)
Interest rate swaps, fair value, assets	$ (13,000)
Designated as Hedging Instrument \| Swap-cash flow 19
Financial Instruments: Derivatives and Hedging
Notional value	$ 50,000,000	50,000,000
Hedge interest rate	1.71%
Interest rate swaps, fair value, liabilities	$ (109,000)	(934,000)
Designated as Hedging Instrument \| Swap-cash flow 20
Financial Instruments: Derivatives and Hedging
Notional value	$ 200,000,000	200,000,000
Hedge interest rate	2.29%
Interest rate swaps, fair value, liabilities	$ (4,587,000)	(938,000)
Designated as Hedging Instrument \| Swap-cash flow 24
Financial Instruments: Derivatives and Hedging
Notional value	$ 125,000,000	125,000,000
Hedge interest rate	2.29%
Interest rate swaps, fair value, liabilities	$ (2,859,000)	(607,000)
Designated as Hedging Instrument \| Swap-cash flow 25
Financial Instruments: Derivatives and Hedging
Notional value	$ 200,000,000	200,000,000
Hedge interest rate	2.38%
Interest rate swaps, fair value, liabilities	$ (5,155,000)	(259,000)
Designated as Hedging Instrument \| Swap-cash flow 26
Financial Instruments: Derivatives and Hedging
Notional value	$ 100,000,000	100,000,000
Hedge interest rate	2.38%
Interest rate swaps, fair value, liabilities	$ (2,574,000)	(139,000)
Designated as Hedging Instrument \| Interest Rate, Swap Hedge, Type Twenty Seven [Member]
Financial Instruments: Derivatives and Hedging
Notional value	$ 100,000,000	100,000,000
Hedge interest rate	2.75%
Interest rate swaps, fair value, liabilities	$ (3,590,000)
Interest rate swaps, fair value, assets		(1,020,000)
Designated as Hedging Instrument \| Swap-cash flow 21
Financial Instruments: Derivatives and Hedging
Notional value	$ 75,000,000	0
Hedge interest rate	2.51%
Interest rate swaps, fair value, liabilities	$ (2,120,000)
Interest rate swaps, fair value, assets		0
Designated as Hedging Instrument \| Swap-cash flow 22
Financial Instruments: Derivatives and Hedging
Notional value	$ 75,000,000	0
Hedge interest rate	2.39%
Interest rate swaps, fair value, liabilities	$ (1,858,000)
Interest rate swaps, fair value, assets		0
Designated as Hedging Instrument \| Swap-cash flow 23
Financial Instruments: Derivatives and Hedging
Notional value	$ 49,000,000	0
Hedge interest rate	1.35%
Interest rate swaps, fair value, assets	$ (181,000)	0
Designated as Hedging Instrument \| Interest Rate, Swap Hedge, Type Twenty Eight [Member]
Financial Instruments: Derivatives and Hedging
Notional value	$ 100,000,000	0
Hedge interest rate	1.28%
Interest rate swaps, fair value, liabilities		0
Interest rate swaps, fair value, assets	$ (690,000)
Designated as Hedging Instrument \| Interest Rate, Swap Hedge, Type Twenty Nine [Member]
Financial Instruments: Derivatives and Hedging
Notional value	$ 150,000,000	0
Hedge interest rate	1.24%
Interest rate swaps, fair value, liabilities		0
Interest rate swaps, fair value, assets	$ (2,268,000)
Accounts Payable and Accrued Liabilities \| Interest rate swap
Financial Instruments: Derivatives and Hedging
Interest rate swaps, fair value, liabilities	(24,200,000)	(1,000,000.0)
Prepaid Expenses and Other Current Assets \| Interest rate swap
Financial Instruments: Derivatives and Hedging
Interest rate swaps, fair value, assets	(4,300,000)	(17,200,000)
Interest Expense
Financial Instruments: Derivatives and Hedging
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	2,300,000
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 5,400,000	$ 3,700,000

Fair Value (Details)	12 Months Ended
Fair Value (Details)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment loss	$ 13,500,000	$ 0	$ 0
Total	19,514,000	16,195,000
Long-term Debt	$ 2,195,707,000	2,202,676,000
Number of Properties Impaired	2
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment loss	$ 0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment loss	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment loss	6,019,000
Long-term Debt, Fair Value	2,206,152,000	2,195,958,000
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment loss	6,019,000
Recurring [Member] \| Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap asset	4,297,000	17,215,000
Interest rate swap liability	(24,187,000)	(1,020,000)
Total	(19,890,000)	16,195,000
Recurring [Member] \| Level 1 \| Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap asset	0	0
Interest rate swap liability	0	0
Total	0	0
Recurring [Member] \| Level 2 \| Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap asset	4,297,000	17,215,000
Interest rate swap liability	(24,187,000)	(1,020,000)
Total	(19,890,000)	16,195,000
Recurring [Member] \| Level 3 \| Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap asset	0	0
Interest rate swap liability	0	0
Total	0	0
Mortgages [Member] \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	532,249,000	528,404,000
Debt, net	526,430,000	528,189,000
Senior Notes [Member] \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Gross	500,484,000	505,322,000
Long-term Debt, Fair Value	497,835,000	492,554,000
Unsecured Debt \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	$ 1,176,068,000	$ 1,175,000,000

Commitments and Contingencies - Additional Information (Details) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2016 USD ($)	Sep. 30, 2019 USD ($)	Dec. 31, 2019 USD ($) hotel	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Ground Leases
NOI Guarantee Key Money Loan		$ 4,600
Number of properties subject to ground lease \| hotel			12
Rent expense			$ 15,700	$ 22,200	$ 11,100
Cash required for reserve, as a percentage of hotel revenue, minimum			3.00%
Cash required for reserve, as a percentage of hotel revenue, maximum			5.00%
Restricted cash reserves			$ 44,686	64,695	72,606
Loss Contingency, Damages Sought, Value	$ 8,300
NOI Guarantee Termination Payment		$ 35,000
Holiday Inn San Francisco Fisherman's Wharf [Member]
Ground Leases
Rent expense			0	4,600	1,600
Wyndham Boston Beacon Hill [Member]
Ground Leases
Rent expense			900	900	300
Wyndham San Diego Bayside [Member]
Ground Leases
Rent expense			4,800	4,800	1,500
DoubleTree Suites by Hilton Orlando - Lake Buena Vista [Member]
Ground Leases
Rent expense			900	800	200
Residence Inn Palo Alto Los Altos
Ground Leases
Rent expense			100	100	100
Wyndham Pittsburgh University Center [Member]
Ground Leases
Rent expense			700	800	100
DoubleTree by Hilton Burlington Vermont [Member]
Ground Leases
Rent expense			0	100	100
Marriott Louisville Downtown
Ground Leases
Rent expense			0	0	0
Embassy Suites San Francisco Airport Waterfront [Member]
Ground Leases
Rent expense			2,400	2,300	700
Wyndham New Orleans French Quarter [Member]
Ground Leases
Rent expense			500	500	100
Vinoy Renaissance St. Petersburg Resort & Golf Club [Member]
Ground Leases
Rent expense			0	1,900	1,000
Courtyard Charleston Historic District
Ground Leases
Rent expense			1,000	1,000	1,000
Courtyard Austin Downtown Convention Center and Residence Inn Austin Downtown Convention Center
Ground Leases
Rent expense			800	900	900
Courtyard Waikiki Beach
Ground Leases
Rent expense			3,600	$ 3,500	$ 3,500
Fixed Operating Lease Expense [Member]
Ground Leases
Rent expense			11,600
Variable Operating Lease Expense [Member]
Ground Leases
Rent expense			$ 4,100

Commitments and Contingencies - Future Minimum Ground Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Operating Leases, Future Minimum Payments, Remainder of Fiscal Year	$ 11,141
Minimum ground rent
2021	11,735
2022	10,124
2023	10,188
2024	10,215
Thereafter	544,201
Total	597,604
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(476,450)
Operating Lease, Liability	$ 121,154	$ 124,735	$ 0
Operating Lease, Weighted Average Remaining Lease Term	63 years
Operating Lease, Weighted Average Discount Rate, Percent	7.06%

Commitments and Contingencies - Management and Franchise Agreements (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($) property agreement	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2019	Dec. 31, 2019 hotel	Mar. 31, 2016 hotel	Nov. 30, 2009 hotel
Operating Leased Assets [Line Items]
Number of Real Estate Properties	104			37			1
Number of hotel properties operated pursuant to long-term management agreements					103
Number of hotel management companies \| agreement	13
NOI Guarantee over life of agreement \| $	$ 100.0
NOI Guarantee annual limit \| $	$ 21.5
Minimum
Operating Leased Assets [Line Items]
Management agreement term	3 years
Base management fee percentage	1.75%
Management agreement with franchise agreement, base management fee percentage	3.00%
Term of franchise agreements	10 years
Royalty fee as a percentage of room revenue	3.00%
Additional fees for marketing, central reservation systems and other franchisor costs as a percentage of room revenue	1.00%
Royalty fee as a percentage of food and beverage revenues	1.50%
Transitional Franchise & Management Fees	3.00%
Maximum
Operating Leased Assets [Line Items]
Management agreement term	25 years
Base management fee percentage	3.50%
Management agreement with franchise agreement, base management fee percentage	7.00%
Term of franchise agreements	30 years
Royalty fee as a percentage of room revenue	6.00%
Additional fees for marketing, central reservation systems and other franchisor costs as a percentage of room revenue	4.30%
Royalty fee as a percentage of food and beverage revenues	3.00%
Transitional Franchise & Management Fees	2.00%
Aimbridge Hospitality
Operating Leased Assets [Line Items]
Number of hotel properties operated pursuant to long-term management agreements					36
Crestline Hotels and Resorts
Operating Leased Assets [Line Items]
Number of hotel properties operated pursuant to long-term management agreements					1
Davidson Hotels & Resorts
Operating Leased Assets [Line Items]
Number of hotel properties operated pursuant to long-term management agreements					1
Hilton Management and affiliates
Operating Leased Assets [Line Items]
Number of hotel properties operated pursuant to long-term management agreements					19
HEI Hotels and Resorts
Operating Leased Assets [Line Items]
Number of hotel properties operated pursuant to long-term management agreements					1
Highgate Hotels
Operating Leased Assets [Line Items]
Number of hotel properties operated pursuant to long-term management agreements					5
Hyatt Corporation and affiliates
Operating Leased Assets [Line Items]
Number of hotel properties operated pursuant to long-term management agreements					11
InnVentures
Operating Leased Assets [Line Items]
Number of hotel properties operated pursuant to long-term management agreements					3
Marriott Hotel Services
Operating Leased Assets [Line Items]
Number of hotel properties operated pursuant to long-term management agreements					3
Sage Hospitality
Operating Leased Assets [Line Items]
Number of hotel properties operated pursuant to long-term management agreements					4
Urgo Hotels
Operating Leased Assets [Line Items]
Number of hotel properties operated pursuant to long-term management agreements					3
WLS
Operating Leased Assets [Line Items]
Number of hotel properties operated pursuant to long-term management agreements					8
Wyndham Hotel Group [Member]
Operating Leased Assets [Line Items]
Number of hotel properties operated pursuant to long-term management agreements					8
Management Service [Member]
Operating Leased Assets [Line Items]
Cost of Goods and Services Sold \| $	$ 45.5	$ 57.3	$ 48.9
Franchise [Member]
Operating Leased Assets [Line Items]
Number of Real Estate Properties				65
Cost of Goods and Services Sold \| $	$ 75.3	$ 80.8	$ 73.7
Wyndham Hotel Group [Member]
Operating Leased Assets [Line Items]
Number of Real Estate Properties						1
InterContinental Hotels Group PLC [Member]
Operating Leased Assets [Line Items]
Number of Real Estate Properties						3
Disposals 2006 [Member] \| InterContinental Hotels Group PLC [Member]
Operating Leased Assets [Line Items]
Number of Real Estate Properties						2

Equity (Details) - USD ($)		12 Months Ended
Equity (Details) - USD ($)	Aug. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Feb. 14, 2020	Feb. 15, 2019	Oct. 30, 2015	May 05, 2011
Equity
Total authorized for issuance number of common shares of beneficial interest (in shares)		450,000,000	450,000,000					450,000,000
Gross proceeds from the sale of common shares				$ 1,016,227,000
Number of shares acquired as part of a share repurchase program (in shares)		4,575,170	1,162,557	122,508
Shares acquired as part of a share repurchase program		$ 77,834,000	$ 21,814,000	$ 2,610,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount		$ 182,500,000
Total authorized for issuance number of preferred shares of beneficial interest (in shares)		50,000,000	50,000,000					50,000,000
Number of OP units outstanding (in shares)		170,624,989
Limited Partner's ownership interest in the Operating Partnership		99.50%
Common Stock, Dividends, Per Share, Declared		$ 1.32	$ 1.32	$ 1.32
Proceeds from Issuance of Redeemable Convertible Preferred Stock		$ 45,000,000.0
Proceeds net of issuance costs on the issuance of preferred equity in a consolidated joint venture		$ 44,400,000
DBT Met Hotel Venture, LP
Equity
Noncontrolling ownership interest in joint venture		1.70%
The Knickerbocker New York [Member]
Equity
Noncontrolling ownership interest in joint venture		5.00%
Embassy Suites Secaucus [Member]
Equity
Noncontrolling ownership interest in joint venture		49.00%
Common Stock
Equity
Number of common shares of beneficial interest issued and sold				50,358,104
Gross proceeds from the sale of common shares				$ 504,000
Number of shares acquired as part of a share repurchase program (in shares)		4,575,170	1,162,557	122,508
Shares acquired as part of a share repurchase program		$ 45,000	$ 12,000	$ 1,000
Common shares issued upon conversion of OP units		0	0
Limited Partners
Equity
Number of OP units outstanding (in shares)		772,743
Limited Partner's ownership interest in the Operating Partnership		0.50%
Subsequent Event [Member]
Equity
Share repurchase program, authorized amount					$ 250,000,000.0
Common Stock
Equity
Shares acquired as part of a share repurchase program			$ 21,800,000	$ 2,600,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	50,400,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Share Price	$ 20.18
Series A Cumulative Preferred Stock [Member]
Equity
Total authorized for issuance number of preferred shares of beneficial interest (in shares)	12,950,000	12,950,000	12,950,000
Preferred Stock, Dividend Rate, Per-Dollar-Amount		$ 1.95
Preferred Stock, Dividends Per Share, Declared		1.95	$ 1.95	$ 0.975
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
Series A Cumulative Preferred Stock [Member] \| RLJ Lodging Trust [Member]
Equity
Preferred Stock, Dividend Rate, Per-Dollar-Amount		$ 1.95		$ 1.95
Partnership Interest [Member]
Equity
Business Acquisition, Common Units Issued or Issuable, Number of Units	200,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Share Price	$ 20.18
Corporate Joint Venture [Member]
Equity
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
Share repurchase program, authorized amount							$ 10,300,000
2019 Share Repurchase Program [Member]
Equity
Share repurchase program, authorized amount						$ 250,000,000.0
Shares acquired as part of a share repurchase program		$ 67,500,000

Equity Incentive Plan - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended			12 Months Ended
	Feb. 28, 2019	Feb. 28, 2018	May 31, 2016	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)				7,500,000
Common shares available for future grant (in shares)				1,398,533
Restricted share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested restricted shares				940,202	740,792	700,325	649,447
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value				$ 20.21	$ 21.89	$ 22.88	$ 23.00
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period				530,436	592,673	425,076
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value				$ 18.69	$ 21.42	$ 23.15
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period				(312,131)	(438,881)	(363,160)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value				$ 21.63	$ 22.92	$ 23.41
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period				(18,895)	(113,325)	(11,038)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value				$ 20.03	$ 21.58	$ 23.24
Share-based compensation expense				$ 8.6	$ 10.2	$ 8.9
Total unrecognized compensation costs				$ 14.0
Weighted-average period of recognition of unrecognized share-based compensation expense				2 years 3 months 18 days
Total fair value of shares vested				$ 5.5	$ 9.5	$ 7.7
2016 Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			280,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 10.31
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate			1.05%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate			23.82%
2017 Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period						259,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value						$ 14.93
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate						1.57%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate						25.73%
2018 Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period					264,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value					$ 13.99
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate					2.42%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate					27.44%
Performance units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense				2.9	$ 2.1	$ 1.7
Total unrecognized compensation costs				$ 5.2
Weighted-average period of recognition of unrecognized share-based compensation expense				2 years 3 months 18 days
2019 Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period				260,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value				$ 19.16
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		4 years
Share Based Compensation Arrangement by Share Based Payment Award, Performance Based Vesting Period	3 years
Share Based Compensation Arrangement by Share Based Payment Award, Time Based Vesting Period	1 year		1 year
Share-based compensation arrangement, by share based payment award, vesting rights percentage immediately	50.00%
Share-based compensation arrangement, by share-based payment award vesting rights, percentage after one year	50.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate				2.52%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate				27.19%
Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options Percentage Of Grant Date Fair Value Recognized Over Three Years	50.00%
Employee Service Share Based Compensation Nonvested Awards For First Fifty Percent Compensation Cost Not Yet Recognized Period For Recognition	3 years
Employee Service Share Based Compensation Nonvested Awards For Remaining Fifty Percent Compensation Cost Not Yet Recognized Period For Recognition	50.00%
Employee Service Share Based Compensation Nonvested Awards For Remaining Fifty Percent Cost Not Yet Recognized, Period For Recognition	4 years
Minimum \| 2016 Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shared-based compensation arrangement by share based payment award, conversion percentage of units granted in period			.25
Minimum \| 2017 Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shared-based compensation arrangement by share based payment award, conversion percentage of units granted in period						.25
Minimum \| 2018 Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shared-based compensation arrangement by share based payment award, conversion percentage of units granted in period					.25
Minimum \| 2019 Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shared-based compensation arrangement by share based payment award, conversion percentage of units granted in period	25.00%
Shared-based compensation arrangement by share based payment award, conversion percentage of units granted in period				.25
Maximum \| 2016 Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shared-based compensation arrangement by share based payment award, conversion percentage of units granted in period			1.50
Maximum \| 2017 Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shared-based compensation arrangement by share based payment award, conversion percentage of units granted in period						1.5
Maximum \| 2018 Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shared-based compensation arrangement by share based payment award, conversion percentage of units granted in period					1.5
Maximum \| 2019 Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shared-based compensation arrangement by share based payment award, conversion percentage of units granted in period	200.00%
Shared-based compensation arrangement by share based payment award, conversion percentage of units granted in period				2.0

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Net Income (Loss) Attributable to Parent									$ 127,842	$ 188,643	$ 74,835
Numerator:
Net Income (Loss) Available to Common Stockholders, Basic	$ 28,404	$ 26,184	$ 27,165	$ 20,974	$ 20,987	$ 67,696	$ 57,435	$ 17,410	102,727	163,528	66,463
Preferred Stock Dividends, Income Statement Impact									(25,115)	(25,115)	(8,372)
Less: Dividends paid on unvested restricted shares									(1,342)	(1,181)	(1,029)
Less: Undistributed earnings attributable to unvested restricted shares									0	0	0
Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares									$ 101,385	$ 162,347	$ 65,434
Denominator:
Weighted-average number of common shares - basic (in shares)	169,241,536	170,495,699	172,661,878	172,796,998	174,141,263	174,326,198	174,238,854	174,193,671	171,287,086	174,225,130	140,616,838
Unvested restricted shares (in shares)									101,390	91,275	77,211
Weighted-average number of common shares - diluted (in shares)	169,376,667	170,600,787	172,766,091	172,856,230	174,194,141	174,479,341	174,364,547	174,268,815	171,388,476	174,316,405	140,694,049
Net income per share attributable to common shareholders - basic (in dollars per share)	$ 0.17	$ 0.15	$ 0.16	$ 0.12	$ 0.12	$ 0.39	$ 0.33	$ 0.10	$ 0.59	$ 0.93	$ 0.47
Net income per share attributable to common shareholders - diluted (in dollars per share)	$ 0.17	$ 0.15	$ 0.16	$ 0.12	$ 0.12	$ 0.39	$ 0.33	$ 0.10	$ 0.59	$ 0.93	$ 0.47

Income Taxes - Cash Distributions and Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Taxes
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		21.00%	35.00%
Current:
Federal	$ 0	$ 0	$ (67)
State	(3,067)	(2,209)	(2,304)
Deferred:
Federal	3,987	(4,867)	(43,181)
State	2,831	(1,717)	3,434
Income tax benefit (expense)	3,751	(8,793)	(42,118)
Differences between provision for income taxes from the amount of income tax determined by applying the applicable U.S. statutory federal income tax rate to pretax income from continuing operations
Expected U.S. federal tax expense at statutory rate	(26,382)	(41,864)	(41,593)
Tax impact of REIT election	24,129	35,058	33,236
Expected tax expense at TRS	(2,253)	(6,806)	(8,357)
Change in valuation allowance	(297)	542	366
State income tax expense, net of federal benefit	(2,367)	(1,463)	(1,388)
Effective Income Tax Rate Reconciliation, Tax Credit, Other, Amount	9,973	0	0
Impact of rate change	332	(51)	(31,667)
Other permanent items	(117)	(566)	(513)
Impact of provision to return/deferred adjustments	(1,520)	(449)	(559)
Income tax benefit (expense)	$ 3,751	$ (8,793)	$ (42,118)

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax liabilities:
Prepaid expenses	$ (1,496)	$ (1,298)
Deferred Tax Liabilities, Intangible Assets	0	(1,468)
Deferred tax liabilities	(1,496)	(2,766)
Deferred tax assets:
Property and equipment	1,786	2,639
Incentive and vacation accrual	3,878	4,595
Deferred revenue - key money	994	1,037
Allowance for doubtful accounts	65	156
Deferred Tax Assets, Partnership Basis	(977)	573
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Contingencies	0	298
Other	421	1,077
Other carryforwards	0	0
Net operating loss carryforwards	57,109	57,248
Deferred Tax Assets, Historic Tax Credits	824	824
Deferred Tax Asset, Wyndham Guarantee	10,192	0
Valuation allowance	(21,349)	(21,052)
Deferred Tax Assets, Gross	$ 52,943	$ 47,395

Supplemental Information to Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Supplemental Cash Flows [Line Items]
Cash and cash equivalents	$ 882,474	$ 320,147	$ 586,470
Restricted cash reserves	44,686	64,695	72,606
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	927,160	384,842	659,076	$ 523,878
Interest paid	97,259	114,280	65,211
Income taxes paid	4,090	1,836	1,176
Operating Lease, Payments	15,270
In conjunction with the sale of hotel properties, the Company recorded the following:
Sale of hotel properties	705,681	530,850	170,000
Escrow related to certain post-closing obligations	0	1,000	14,000
Purchase option for land subject to a ground lease	0	(44,831)	0
Transaction costs	(10,482)	(10,668)	(4,564)
Operating prorations	(9,329)	(1,288)	843
Proceeds from the sale of hotel properties, net	685,870	475,063	180,279
Supplemental non-cash transactions (1)
Change in fair market value of designated interest rate swaps	(33,459)	7,349	13,748
Accrued capital expenditures	14,234	15,709	14,138
Distributions payable	64,165	65,557	65,284
AOCI Attributable to Parent [Member]
Supplemental non-cash transactions (1)
Change in fair market value of designated interest rate swaps	$ (33,459)	$ 7,349	$ 13,748

Quarterly Operating Results (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 347,074	$ 371,124	$ 448,727	$ 399,267	$ 399,898	$ 447,042	$ 484,691	$ 429,593	$ 1,566,192	$ 1,761,224	$ 1,356,261
Net income	34,912	32,455	33,681	28,331	27,918	74,657	64,393	23,894
Net Income (Loss) Available to Common Stockholders, Basic	28,404	26,184	27,165	20,974	20,987	67,696	57,435	17,410	102,727	163,528	66,463
Comprehensive income attributable to RLJ	$ 43,836	$ 26,784	$ 11,799	$ 10,867	$ 5,146	$ 78,650	$ 70,650	$ 41,546	$ 93,286	$ 195,992	$ 88,583
Basic per share data (1):
Net income per share attributable to common shareholders - basic (in dollars per share)	$ 0.17	$ 0.15	$ 0.16	$ 0.12	$ 0.12	$ 0.39	$ 0.33	$ 0.10	$ 0.59	$ 0.93	$ 0.47
Diluted per share data (1):
Net income per share attributable to common shareholders - diluted (in dollars per share)	$ 0.17	$ 0.15	$ 0.16	$ 0.12	$ 0.12	$ 0.39	$ 0.33	$ 0.10	$ 0.59	$ 0.93	$ 0.47
Weighted Average Number of Shares Outstanding, Basic	169,241,536	170,495,699	172,661,878	172,796,998	174,141,263	174,326,198	174,238,854	174,193,671	171,287,086	174,225,130	140,616,838
Weighted Average Number of Shares Outstanding, Diluted	169,376,667	170,600,787	172,766,091	172,856,230	174,194,141	174,479,341	174,364,547	174,268,815	171,388,476	174,316,405	140,694,049

Schedule III - Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real Estate and Accumulated Depreciation
Debt	$ 530,299
Initial Costs
Land & Improvements	1,076,882
Building & Improvements	3,569,930
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	480,636
Gross Amount
Land & Improvements	1,088,436
Buildings & Improvements	4,039,012
Total	5,127,448	$ 5,903,906	$ 6,165,296	$ 3,725,932
Accumulated Depreciation	706,040	$ 759,643	$ 628,518	$ 520,517
Aggregate cost of real estate for federal income tax purposes	5,000,000
Marriott Denver South @ Park Meadow [Member]
Real Estate and Accumulated Depreciation
Debt	0
Initial Costs
Land & Improvements	5,385
Building & Improvements	39,488
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	3,863
Gross Amount
Land & Improvements	5,353
Buildings & Improvements	43,383
Total	48,736
Accumulated Depreciation	$ 14,629
Marriott Denver South @ Park Meadow [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Marriott Denver South @ Park Meadow [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Marriott Louisville Downtown
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	0
Building & Improvements	89,541
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	24,860
Gross Amount
Land & Improvements	39
Buildings & Improvements	114,362
Total	114,401
Accumulated Depreciation	$ 32,920
Marriott Louisville Downtown \| Minimum
Gross Amount
Depreciation Life	15 years
Marriott Louisville Downtown \| Maximum
Gross Amount
Depreciation Life	40 years
Marriott Chicago Midway [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	4,464
Building & Improvements	32,736
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	2,562
Gross Amount
Land & Improvements	4,496
Buildings & Improvements	35,266
Total	39,762
Accumulated Depreciation	$ 11,918
Marriott Chicago Midway [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Marriott Chicago Midway [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Renaissance Boulder Flatiron Hotel [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	4,440
Building & Improvements	32,557
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	3,196
Gross Amount
Land & Improvements	4,719
Buildings & Improvements	35,474
Total	40,193
Accumulated Depreciation	$ 11,773
Renaissance Boulder Flatiron Hotel [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Renaissance Boulder Flatiron Hotel [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Renaissance Fort Lauderdale Plantation Hotel [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	4,842
Building & Improvements	35,517
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	7,243
Gross Amount
Land & Improvements	4,876
Buildings & Improvements	42,726
Total	47,602
Accumulated Depreciation	$ 12,654
Renaissance Fort Lauderdale Plantation Hotel [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Renaissance Fort Lauderdale Plantation Hotel [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Courtyard Chicago Downtown Magnificent Mile [Member]
Real Estate and Accumulated Depreciation
Debt	$ 31,000
Initial Costs
Land & Improvements	8,140
Building & Improvements	59,696
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	8,987
Gross Amount
Land & Improvements	8,142
Buildings & Improvements	68,681
Total	76,823
Accumulated Depreciation	$ 22,032
Courtyard Chicago Downtown Magnificent Mile [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Courtyard Chicago Downtown Magnificent Mile [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Courtyard Chicago Southeast Hammond [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	1,038
Building & Improvements	7,616
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	2,066
Gross Amount
Land & Improvements	1,080
Buildings & Improvements	9,640
Total	10,720
Accumulated Depreciation	$ 3,181
Courtyard Chicago Southeast Hammond [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Courtyard Chicago Southeast Hammond [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Courtyard Indianapolis @ The Capitol [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	2,482
Building & Improvements	18,207
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	3,942
Gross Amount
Land & Improvements	2,577
Buildings & Improvements	22,054
Total	24,631
Accumulated Depreciation	$ 6,592
Courtyard Indianapolis @ The Capitol [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Courtyard Indianapolis @ The Capitol [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Courtyard Midway Airport [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	2,172
Building & Improvements	15,927
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	2,671
Gross Amount
Land & Improvements	2,197
Buildings & Improvements	18,573
Total	20,770
Accumulated Depreciation	$ 6,862
Courtyard Midway Airport [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Courtyard Midway Airport [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Courtyard Houston Sugarland [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	617
Building & Improvements	2,331
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	2,936
Gross Amount
Land & Improvements	731
Buildings & Improvements	5,153
Total	5,884
Accumulated Depreciation	$ 3,390
Courtyard Houston Sugarland [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Courtyard Houston Sugarland [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Courtyard Austin Downtown Convention Center [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	6,049
Building & Improvements	44,361
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	5,005
Gross Amount
Land & Improvements	6,049
Buildings & Improvements	49,366
Total	55,415
Accumulated Depreciation	$ 14,130
Courtyard Austin Downtown Convention Center [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Courtyard Austin Downtown Convention Center [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Residence Inn Indianapolis Fishers [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	998
Building & Improvements	7,322
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,059
Gross Amount
Land & Improvements	1,048
Buildings & Improvements	8,331
Total	9,379
Accumulated Depreciation	$ 2,731
Residence Inn Indianapolis Fishers [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Residence Inn Indianapolis Fishers [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Residence Inn Chicago Southeast Hammond [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	980
Building & Improvements	7,190
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,228
Gross Amount
Land & Improvements	1,043
Buildings & Improvements	8,355
Total	9,398
Accumulated Depreciation	$ 2,672
Residence Inn Chicago Southeast Hammond [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Residence Inn Chicago Southeast Hammond [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Residence Inn Houston By The Galleria [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	2,665
Building & Improvements	19,549
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	2,959
Gross Amount
Land & Improvements	2,665
Buildings & Improvements	22,508
Total	25,173
Accumulated Depreciation	$ 7,669
Residence Inn Houston By The Galleria [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Residence Inn Houston By The Galleria [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Residence Inn Indianapolis Downtown On The Canal [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	2,670
Building & Improvements	19,588
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	3,131
Gross Amount
Land & Improvements	2,670
Buildings & Improvements	22,719
Total	25,389
Accumulated Depreciation	$ 7,185
Residence Inn Indianapolis Downtown On The Canal [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Residence Inn Indianapolis Downtown On The Canal [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Residence Inn Merrillville [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	595
Building & Improvements	4,372
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,321
Gross Amount
Land & Improvements	595
Buildings & Improvements	5,693
Total	6,288
Accumulated Depreciation	$ 2,003
Residence Inn Merrillville [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Residence Inn Merrillville [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Residence Inn Houston Sugarland [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	500
Building & Improvements	2,373
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	3,151
Gross Amount
Land & Improvements	500
Buildings & Improvements	5,524
Total	6,024
Accumulated Depreciation	$ 3,491
Residence Inn Houston Sugarland [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Residence Inn Houston Sugarland [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Residence Inn Chicago Naperville [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	1,923
Building & Improvements	14,101
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,078
Gross Amount
Land & Improvements	1,923
Buildings & Improvements	15,179
Total	17,102
Accumulated Depreciation	$ 5,150
Residence Inn Chicago Naperville [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Residence Inn Chicago Naperville [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Residence Inn Louisville Downtown [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	1,815
Building & Improvements	13,308
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,852
Gross Amount
Land & Improvements	1,815
Buildings & Improvements	15,160
Total	16,975
Accumulated Depreciation	$ 4,499
Residence Inn Louisville Downtown [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Residence Inn Louisville Downtown [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Residence Inn Austin Downtown Convention Center [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	3,767
Building & Improvements	27,626
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	3,759
Gross Amount
Land & Improvements	3,800
Buildings & Improvements	31,352
Total	35,152
Accumulated Depreciation	$ 8,659
Residence Inn Austin Downtown Convention Center [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Residence Inn Austin Downtown Convention Center [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
SpringHill Suites Denver North Westminster [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	2,409
Building & Improvements	17,670
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,618
Gross Amount
Land & Improvements	2,409
Buildings & Improvements	19,288
Total	21,697
Accumulated Depreciation	$ 6,476
SpringHill Suites Denver North Westminster [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
SpringHill Suites Denver North Westminster [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Fairfield Inn and Suites Cherry Creek [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	1,203
Building & Improvements	8,823
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,339
Gross Amount
Land & Improvements	1,203
Buildings & Improvements	10,162
Total	11,365
Accumulated Depreciation	$ 3,513
Fairfield Inn and Suites Cherry Creek [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Fairfield Inn and Suites Cherry Creek [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Fairfield Inn Hammond [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	722
Building & Improvements	5,301
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,412
Gross Amount
Land & Improvements	790
Buildings & Improvements	6,645
Total	7,435
Accumulated Depreciation	$ 2,282
Fairfield Inn Hammond [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Fairfield Inn Hammond [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Fairfield Inn and Suites Key West [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	1,803
Building & Improvements	19,325
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	3,496
Gross Amount
Land & Improvements	1,853
Buildings & Improvements	22,771
Total	24,624
Accumulated Depreciation	$ 7,543
Fairfield Inn and Suites Key West [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Fairfield Inn and Suites Key West [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Fairfield Inn & Suites Chicago Midway Airport [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	1,425
Building & Improvements	10,449
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	2,004
Gross Amount
Land & Improvements	1,446
Buildings & Improvements	12,432
Total	13,878
Accumulated Depreciation	$ 4,102
Fairfield Inn & Suites Chicago Midway Airport [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Fairfield Inn & Suites Chicago Midway Airport [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Hampton Inn Chicago Midway Airport [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	2,747
Building & Improvements	20,143
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	3,047
Gross Amount
Land & Improvements	2,793
Buildings & Improvements	23,144
Total	25,937
Accumulated Depreciation	$ 7,774
Hampton Inn Chicago Midway Airport [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Hampton Inn Chicago Midway Airport [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Hilton Garden Inn Chicago Midway Airport [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	2,978
Building & Improvements	21,842
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,524
Gross Amount
Land & Improvements	3,000
Buildings & Improvements	23,344
Total	26,344
Accumulated Depreciation	$ 7,871
Hilton Garden Inn Chicago Midway Airport [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Hilton Garden Inn Chicago Midway Airport [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Sleep Inn Midway Airport [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	1,189
Building & Improvements	8,718
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,830
Gross Amount
Land & Improvements	1,210
Buildings & Improvements	10,527
Total	11,737
Accumulated Depreciation	$ 3,775
Sleep Inn Midway Airport [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Sleep Inn Midway Airport [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Holiday Inn Express Hotel & Suites Midway Airport [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	1,874
Building & Improvements	13,742
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	3,150
Gross Amount
Land & Improvements	1,901
Buildings & Improvements	16,865
Total	18,766
Accumulated Depreciation	$ 5,160
Holiday Inn Express Hotel & Suites Midway Airport [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Holiday Inn Express Hotel & Suites Midway Airport [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
TGI Friday's Chicago Midway [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	829
Building & Improvements	6,139
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	686
Gross Amount
Land & Improvements	851
Buildings & Improvements	6,803
Total	7,654
Accumulated Depreciation	$ 2,253
TGI Friday's Chicago Midway [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
TGI Friday's Chicago Midway [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Hampton Inn Garden City [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	5,691
Building & Improvements	22,764
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	2,129
Gross Amount
Land & Improvements	5,732
Buildings & Improvements	24,852
Total	30,584
Accumulated Depreciation	$ 7,589
Hampton Inn Garden City [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Hampton Inn Garden City [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Courtyard Houston By The Galleria [Member]
Real Estate and Accumulated Depreciation
Debt	$ 19,000
Initial Costs
Land & Improvements	3,069
Building & Improvements	22,508
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,901
Gross Amount
Land & Improvements	3,069
Buildings & Improvements	24,409
Total	27,478
Accumulated Depreciation	$ 7,380
Courtyard Houston By The Galleria [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Courtyard Houston By The Galleria [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Embassy Suites Los Angeles Downey [Member]
Real Estate and Accumulated Depreciation
Debt	$ 31,000
Initial Costs
Land & Improvements	4,857
Building & Improvements	29,943
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	10,871
Gross Amount
Land & Improvements	4,970
Buildings & Improvements	40,701
Total	45,671
Accumulated Depreciation	$ 11,016
Embassy Suites Los Angeles Downey [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Embassy Suites Los Angeles Downey [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Embassy Suites Tampa Downtown Convention Ctr [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	2,161
Building & Improvements	71,017
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	13,472
Gross Amount
Land & Improvements	2,425
Buildings & Improvements	84,225
Total	86,650
Accumulated Depreciation	$ 18,932
Embassy Suites Tampa Downtown Convention Ctr [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Embassy Suites Tampa Downtown Convention Ctr [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Fairfield Inn & Suites Washington DC Downtown [Member]
Real Estate and Accumulated Depreciation
Debt	$ 34,000
Initial Costs
Land & Improvements	16,214
Building & Improvements	22,265
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	6,442
Gross Amount
Land & Improvements	16,447
Buildings & Improvements	28,474
Total	44,921
Accumulated Depreciation	$ 7,974
Fairfield Inn & Suites Washington DC Downtown [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Fairfield Inn & Suites Washington DC Downtown [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Embassy Suites Fort Myers Estero [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	2,816
Building & Improvements	7,862
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,804
Gross Amount
Land & Improvements	2,903
Buildings & Improvements	9,579
Total	12,482
Accumulated Depreciation	$ 2,745
Embassy Suites Fort Myers Estero [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Embassy Suites Fort Myers Estero [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Homewood Suites Washington DC Downtown [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	23,139
Building & Improvements	34,188
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	5,041
Gross Amount
Land & Improvements	23,150
Buildings & Improvements	39,218
Total	62,368
Accumulated Depreciation	$ 9,319
Homewood Suites Washington DC Downtown [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Homewood Suites Washington DC Downtown [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Hotel Indigo New Orleans Garden District [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	1,901
Building & Improvements	3,865
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	11,924
Gross Amount
Land & Improvements	2,082
Buildings & Improvements	15,608
Total	17,690
Accumulated Depreciation	$ 6,235
Hotel Indigo New Orleans Garden District [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Hotel Indigo New Orleans Garden District [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Residence Inn National Harbor Washington DC [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	7,457
Building & Improvements	37,046
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	2,118
Gross Amount
Land & Improvements	7,480
Buildings & Improvements	39,141
Total	46,621
Accumulated Depreciation	$ 9,093
Residence Inn National Harbor Washington DC [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Residence Inn National Harbor Washington DC [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Hilton Garden Inn New Orleans Convention Center [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	3,405
Building & Improvements	20,750
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	9,152
Gross Amount
Land & Improvements	3,479
Buildings & Improvements	29,828
Total	33,307
Accumulated Depreciation	$ 7,176
Hilton Garden Inn New Orleans Convention Center [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Hilton Garden Inn New Orleans Convention Center [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Hilton Garden Inn Los Angeles Hollywood [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	5,303
Building & Improvements	19,136
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	9,275
Gross Amount
Land & Improvements	5,667
Buildings & Improvements	28,047
Total	33,714
Accumulated Depreciation	$ 7,528
Hilton Garden Inn Los Angeles Hollywood [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Hilton Garden Inn Los Angeles Hollywood [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Doubletree Metropolitan Hotel New York City
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	140,332
Building & Improvements	188,014
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	23,866
Gross Amount
Land & Improvements	140,513
Buildings & Improvements	211,699
Total	352,212
Accumulated Depreciation	$ 50,972
Doubletree Metropolitan Hotel New York City \| Minimum
Gross Amount
Depreciation Life	15 years
Doubletree Metropolitan Hotel New York City \| Maximum
Gross Amount
Depreciation Life	40 years
Renaissance Pittsburgh Hotel [Member]
Real Estate and Accumulated Depreciation
Debt	$ 34,000
Initial Costs
Land & Improvements	3,274
Building & Improvements	39,934
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	10,040
Gross Amount
Land & Improvements	3,396
Buildings & Improvements	49,852
Total	53,248
Accumulated Depreciation	$ 11,065
Renaissance Pittsburgh Hotel [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Renaissance Pittsburgh Hotel [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Courtyard Atlanta Buckhead [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	2,860
Building & Improvements	21,668
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	3,687
Gross Amount
Land & Improvements	2,875
Buildings & Improvements	25,340
Total	28,215
Accumulated Depreciation	$ 6,078
Courtyard Atlanta Buckhead [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Courtyard Atlanta Buckhead [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Marriott Denver Airport @ Gateway Park [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	3,083
Building & Improvements	38,356
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	4,512
Gross Amount
Land & Improvements	3,179
Buildings & Improvements	42,772
Total	45,951
Accumulated Depreciation	$ 10,433
Marriott Denver Airport @ Gateway Park [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Marriott Denver Airport @ Gateway Park [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Embassy Suites West Palm Beach Central [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	3,656
Building & Improvements	9,614
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	7,578
Gross Amount
Land & Improvements	3,856
Buildings & Improvements	16,992
Total	20,848
Accumulated Depreciation	$ 5,288
Embassy Suites West Palm Beach Central [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Embassy Suites West Palm Beach Central [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Hilton Garden Inn Pittsburgh University Place [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	1,975
Building & Improvements	18,490
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	8,965
Gross Amount
Land & Improvements	2,388
Buildings & Improvements	27,042
Total	29,430
Accumulated Depreciation	$ 7,917
Hilton Garden Inn Pittsburgh University Place [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Hilton Garden Inn Pittsburgh University Place [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Courtyard Charleston Historic District
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	2,714
Building & Improvements	35,828
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	3,887
Gross Amount
Land & Improvements	3,507
Buildings & Improvements	38,922
Total	42,429
Accumulated Depreciation	$ 8,063
Courtyard Charleston Historic District \| Minimum
Gross Amount
Depreciation Life	15 years
Courtyard Charleston Historic District \| Maximum
Gross Amount
Depreciation Life	40 years
Residence Inn Bethesda Downtown [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	8,154
Building & Improvements	52,749
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	6,863
Gross Amount
Land & Improvements	8,287
Buildings & Improvements	59,479
Total	67,766
Accumulated Depreciation	$ 11,764
Residence Inn Bethesda Downtown [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Residence Inn Bethesda Downtown [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Courtyard New York Manhattan Upper East Side [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	20,655
Building & Improvements	60,222
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	7,208
Gross Amount
Land & Improvements	20,882
Buildings & Improvements	67,203
Total	88,085
Accumulated Depreciation	$ 13,463
Courtyard New York Manhattan Upper East Side [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Courtyard New York Manhattan Upper East Side [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Hilton Garden Inn San Francisco Oakland Bay Brg [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	11,903
Building & Improvements	22,757
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	6,026
Gross Amount
Land & Improvements	12,072
Buildings & Improvements	28,614
Total	40,686
Accumulated Depreciation	$ 5,372
Hilton Garden Inn San Francisco Oakland Bay Brg [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Hilton Garden Inn San Francisco Oakland Bay Brg [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Embassy Suites Boston Waltham [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	6,268
Building & Improvements	56,024
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	4,755
Gross Amount
Land & Improvements	6,386
Buildings & Improvements	60,661
Total	67,047
Accumulated Depreciation	$ 11,757
Embassy Suites Boston Waltham [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Embassy Suites Boston Waltham [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Courtyard Houston Downtown Convention Center [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	5,799
Building & Improvements	28,953
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	4,436
Gross Amount
Land & Improvements	6,033
Buildings & Improvements	33,155
Total	39,188
Accumulated Depreciation	$ 6,065
Courtyard Houston Downtown Convention Center [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Courtyard Houston Downtown Convention Center [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Residence Inn Houston Downtown Convention Center [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	4,674
Building & Improvements	24,913
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	4,848
Gross Amount
Land & Improvements	4,875
Buildings & Improvements	29,560
Total	34,435
Accumulated Depreciation	$ 5,287
Residence Inn Houston Downtown Convention Center [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Residence Inn Houston Downtown Convention Center [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
SpringHill Suites Houston Downtown Convention Center [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	2,382
Building & Improvements	12,756
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	15,919
Gross Amount
Land & Improvements	2,566
Buildings & Improvements	28,491
Total	31,057
Accumulated Depreciation	$ 5,706
SpringHill Suites Houston Downtown Convention Center [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
SpringHill Suites Houston Downtown Convention Center [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Courtyard Waikiki Beach
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	557
Building & Improvements	79,033
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	11,617
Gross Amount
Land & Improvements	795
Buildings & Improvements	90,412
Total	91,207
Accumulated Depreciation	$ 15,872
Courtyard Waikiki Beach \| Minimum
Gross Amount
Depreciation Life	15 years
Courtyard Waikiki Beach \| Maximum
Gross Amount
Depreciation Life	40 years
Courtyard San Francisco [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	11,277
Building & Improvements	18,198
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	28,678
Gross Amount
Land & Improvements	11,291
Buildings & Improvements	46,862
Total	58,153
Accumulated Depreciation	$ 8,845
Courtyard San Francisco [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Courtyard San Francisco [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Residence Inn Atlanta Midtown Historic [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	2,812
Building & Improvements	6,044
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	7,523
Gross Amount
Land & Improvements	2,969
Buildings & Improvements	13,410
Total	16,379
Accumulated Depreciation	$ 2,556
Residence Inn Atlanta Midtown Historic [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Residence Inn Atlanta Midtown Historic [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
SpringHill Suites Portland Hillsboro [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	3,488
Building & Improvements	18,283
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,431
Gross Amount
Land & Improvements	3,515
Buildings & Improvements	19,687
Total	23,202
Accumulated Depreciation	$ 3,194
SpringHill Suites Portland Hillsboro [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
SpringHill Suites Portland Hillsboro [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Hilton Cabana Miami Beach
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	25,083
Building & Improvements	40,707
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	6,563
Gross Amount
Land & Improvements	25,162
Buildings & Improvements	47,191
Total	72,353
Accumulated Depreciation	$ 6,594
Hilton Cabana Miami Beach \| Minimum
Gross Amount
Depreciation Life	15 years
Hilton Cabana Miami Beach \| Maximum
Gross Amount
Depreciation Life	40 years
Hyatt House Charlotte Center City
Real Estate and Accumulated Depreciation
Debt	$ 18,000
Initial Costs
Land & Improvements	3,029
Building & Improvements	26,193
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,852
Gross Amount
Land & Improvements	3,029
Buildings & Improvements	28,045
Total	31,074
Accumulated Depreciation	$ 4,053
Hyatt House Charlotte Center City \| Minimum
Gross Amount
Depreciation Life	15 years
Hyatt House Charlotte Center City \| Maximum
Gross Amount
Depreciation Life	40 years
Hyatt House Cypress Anaheim
Real Estate and Accumulated Depreciation
Debt	$ 16,000
Initial Costs
Land & Improvements	3,995
Building & Improvements	9,164
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	3,964
Gross Amount
Land & Improvements	4,354
Buildings & Improvements	12,769
Total	17,123
Accumulated Depreciation	$ 2,662
Hyatt House Cypress Anaheim \| Minimum
Gross Amount
Depreciation Life	15 years
Hyatt House Cypress Anaheim \| Maximum
Gross Amount
Depreciation Life	40 years
Hyatt House Emeryville San Francisco Bay Area
Real Estate and Accumulated Depreciation
Debt	$ 36,000
Initial Costs
Land & Improvements	7,425
Building & Improvements	29,137
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	6,107
Gross Amount
Land & Improvements	7,517
Buildings & Improvements	35,152
Total	42,669
Accumulated Depreciation	$ 6,147
Hyatt House Emeryville San Francisco Bay Area \| Minimum
Gross Amount
Depreciation Life	15 years
Hyatt House Emeryville San Francisco Bay Area \| Maximum
Gross Amount
Depreciation Life	40 years
Hyatt House San Diego Sorrento Mesa
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	10,420
Building & Improvements	21,288
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,420
Gross Amount
Land & Improvements	10,625
Buildings & Improvements	22,503
Total	33,128
Accumulated Depreciation	$ 3,710
Hyatt House San Diego Sorrento Mesa \| Minimum
Gross Amount
Depreciation Life	15 years
Hyatt House San Diego Sorrento Mesa \| Maximum
Gross Amount
Depreciation Life	40 years
Hyatt House San Jose Silicon Valley
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	6,820
Building & Improvements	31,682
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,009
Gross Amount
Land & Improvements	6,820
Buildings & Improvements	32,691
Total	39,511
Accumulated Depreciation	$ 4,712
Hyatt House San Jose Silicon Valley \| Minimum
Gross Amount
Depreciation Life	15 years
Hyatt House San Jose Silicon Valley \| Maximum
Gross Amount
Depreciation Life	40 years
Hyatt House San Ramon
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	5,712
Building & Improvements	11,852
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	2,834
Gross Amount
Land & Improvements	5,717
Buildings & Improvements	14,681
Total	20,398
Accumulated Depreciation	$ 2,551
Hyatt House San Ramon \| Minimum
Gross Amount
Depreciation Life	15 years
Hyatt House San Ramon \| Maximum
Gross Amount
Depreciation Life	40 years
Hyatt House Santa Clara
Real Estate and Accumulated Depreciation
Debt	$ 34,000
Initial Costs
Land & Improvements	8,044
Building & Improvements	27,703
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	3,041
Gross Amount
Land & Improvements	8,046
Buildings & Improvements	30,742
Total	38,788
Accumulated Depreciation	$ 4,798
Hyatt House Santa Clara \| Minimum
Gross Amount
Depreciation Life	15 years
Hyatt House Santa Clara \| Maximum
Gross Amount
Depreciation Life	40 years
Hyatt Centric The Woodlands
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	5,950
Building & Improvements	16,882
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,146
Gross Amount
Land & Improvements	5,957
Buildings & Improvements	18,021
Total	23,978
Accumulated Depreciation	$ 2,647
Hyatt Centric The Woodlands \| Minimum
Gross Amount
Depreciation Life	15 years
Hyatt Centric The Woodlands \| Maximum
Gross Amount
Depreciation Life	40 years
Hyatt Place Fremont Silicon Valley
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	6,209
Building & Improvements	13,730
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,459
Gross Amount
Land & Improvements	6,271
Buildings & Improvements	15,127
Total	21,398
Accumulated Depreciation	$ 2,553
Hyatt Place Fremont Silicon Valley \| Minimum
Gross Amount
Depreciation Life	15 years
Hyatt Place Fremont Silicon Valley \| Maximum
Gross Amount
Depreciation Life	40 years
Hyatt Place Madison Downtown
Real Estate and Accumulated Depreciation
Debt	$ 13,000
Initial Costs
Land & Improvements	6,701
Building & Improvements	25,478
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	234
Gross Amount
Land & Improvements	6,701
Buildings & Improvements	25,712
Total	32,413
Accumulated Depreciation	$ 3,731
Hyatt Place Madison Downtown \| Minimum
Gross Amount
Depreciation Life	15 years
Hyatt Place Madison Downtown \| Maximum
Gross Amount
Depreciation Life	40 years
Embassy Suites Irvine Orange County
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	15,062
Building & Improvements	33,048
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	8,848
Gross Amount
Land & Improvements	15,187
Buildings & Improvements	41,771
Total	56,958
Accumulated Depreciation	$ 6,771
Embassy Suites Irvine Orange County \| Minimum
Gross Amount
Depreciation Life	15 years
Embassy Suites Irvine Orange County \| Maximum
Gross Amount
Depreciation Life	40 years
Courtyard Portland City Center
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	8,019
Building & Improvements	53,024
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,417
Gross Amount
Land & Improvements	8,022
Buildings & Improvements	54,438
Total	62,460
Accumulated Depreciation	$ 7,818
Courtyard Portland City Center \| Minimum
Gross Amount
Depreciation Life	15 years
Courtyard Portland City Center \| Maximum
Gross Amount
Depreciation Life	40 years
Hyatt Atlanta Midtown
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	3,737
Building & Improvements	41,731
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,108
Gross Amount
Land & Improvements	3,740
Buildings & Improvements	42,836
Total	46,576
Accumulated Depreciation	$ 5,969
Hyatt Atlanta Midtown \| Minimum
Gross Amount
Depreciation Life	15 years
Hyatt Atlanta Midtown \| Maximum
Gross Amount
Depreciation Life	40 years
DoubleTree Grand Key Resort
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	48,192
Building & Improvements	27,770
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	7,717
Gross Amount
Land & Improvements	48,266
Buildings & Improvements	35,413
Total	83,679
Accumulated Depreciation	$ 5,501
DoubleTree Grand Key Resort \| Minimum
Gross Amount
Depreciation Life	15 years
DoubleTree Grand Key Resort \| Maximum
Gross Amount
Depreciation Life	40 years
Hyatt Place Washington DC Downtown K Street
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	10,763
Building & Improvements	55,225
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,928
Gross Amount
Land & Improvements	10,763
Buildings & Improvements	57,153
Total	67,916
Accumulated Depreciation	$ 6,464
Hyatt Place Washington DC Downtown K Street \| Minimum
Gross Amount
Depreciation Life	15 years
Hyatt Place Washington DC Downtown K Street \| Maximum
Gross Amount
Depreciation Life	40 years
Homewood Suites Seattle Lynnwood
Real Estate and Accumulated Depreciation
Debt	$ 19,000
Initial Costs
Land & Improvements	3,933
Building & Improvements	30,949
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	170
Gross Amount
Land & Improvements	3,981
Buildings & Improvements	31,071
Total	35,052
Accumulated Depreciation	$ 3,626
Homewood Suites Seattle Lynnwood \| Minimum
Gross Amount
Depreciation Life	15 years
Homewood Suites Seattle Lynnwood \| Maximum
Gross Amount
Depreciation Life	40 years
Residence Inn Palo Alto Los Altos
Real Estate and Accumulated Depreciation
Debt	$ 31,215
Initial Costs
Land & Improvements	16,996
Building & Improvements	45,786
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	772
Gross Amount
Land & Improvements	17,097
Buildings & Improvements	46,457
Total	63,554
Accumulated Depreciation	$ 5,406
Residence Inn Palo Alto Los Altos \| Minimum
Gross Amount
Depreciation Life	15 years
Residence Inn Palo Alto Los Altos \| Maximum
Gross Amount
Depreciation Life	40 years
DoubleTree Suites by Hilton Austin [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	7,072
Building & Improvements	50,827
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	827
Gross Amount
Land & Improvements	7,155
Buildings & Improvements	51,571
Total	58,726
Accumulated Depreciation	$ 3,031
DoubleTree Suites by Hilton Austin [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
DoubleTree Suites by Hilton Austin [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
DoubleTree Suites by Hilton Orlando - Lake Buena Vista [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	896
Building & Improvements	44,508
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	752
Gross Amount
Land & Improvements	904
Buildings & Improvements	45,252
Total	46,156
Accumulated Depreciation	$ 2,781
DoubleTree Suites by Hilton Orlando - Lake Buena Vista [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
DoubleTree Suites by Hilton Orlando - Lake Buena Vista [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Embassy Suites Atlanta Buckhead [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	31,279
Building & Improvements	46,015
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	5,256
Gross Amount
Land & Improvements	31,451
Buildings & Improvements	51,099
Total	82,550
Accumulated Depreciation	$ 2,895
Embassy Suites Atlanta Buckhead [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Embassy Suites Atlanta Buckhead [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Embassy Suites Birmingham [Member]
Real Estate and Accumulated Depreciation
Debt	$ 21,744
Initial Costs
Land & Improvements	10,495
Building & Improvements	33,568
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	499
Gross Amount
Land & Improvements	10,495
Buildings & Improvements	34,067
Total	44,562
Accumulated Depreciation	$ 2,097
Embassy Suites Birmingham [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Embassy Suites Birmingham [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Embassy Suites Dallas Love Field [Member]
Real Estate and Accumulated Depreciation
Debt	$ 25,000
Initial Costs
Land & Improvements	6,408
Building & Improvements	34,694
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,306
Gross Amount
Land & Improvements	6,413
Buildings & Improvements	35,995
Total	42,408
Accumulated Depreciation	$ 2,140
Embassy Suites Dallas Love Field [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Embassy Suites Dallas Love Field [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Embassy Suites Deerfield Beach [Member]
Real Estate and Accumulated Depreciation
Debt	$ 28,785
Initial Costs
Land & Improvements	7,527
Building & Improvements	56,128
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	3,231
Gross Amount
Land & Improvements	7,682
Buildings & Improvements	59,204
Total	66,886
Accumulated Depreciation	$ 3,502
Embassy Suites Deerfield Beach [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Embassy Suites Deerfield Beach [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Embassy Suites Fort Lauderdale 17th Street [Member]
Real Estate and Accumulated Depreciation
Debt	$ 32,594
Initial Costs
Land & Improvements	30,933
Building & Improvements	54,592
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	3,068
Gross Amount
Land & Improvements	31,160
Buildings & Improvements	57,433
Total	88,593
Accumulated Depreciation	$ 3,575
Embassy Suites Fort Lauderdale 17th Street [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Embassy Suites Fort Lauderdale 17th Street [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Embassy Suites Los Angeles International Airport South [Member]
Real Estate and Accumulated Depreciation
Debt	$ 50,000
Initial Costs
Land & Improvements	13,110
Building & Improvements	94,733
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,625
Gross Amount
Land & Improvements	13,168
Buildings & Improvements	96,300
Total	109,468
Accumulated Depreciation	$ 5,691
Embassy Suites Los Angeles International Airport South [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Embassy Suites Los Angeles International Airport South [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Embassy Suites Mandalay Beach [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	35,769
Building & Improvements	53,280
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,897
Gross Amount
Land & Improvements	35,833
Buildings & Improvements	55,113
Total	90,946
Accumulated Depreciation	$ 3,414
Embassy Suites Mandalay Beach [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Embassy Suites Mandalay Beach [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Embassy Suites Miami International Airport [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	14,765
Building & Improvements	18,099
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	3,186
Gross Amount
Land & Improvements	15,057
Buildings & Improvements	20,993
Total	36,050
Accumulated Depreciation	$ 1,454
Embassy Suites Miami International Airport [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Embassy Suites Miami International Airport [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Embassy Suites Milpitas Silicon Valley [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	43,157
Building & Improvements	26,399
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	9,914
Gross Amount
Land & Improvements	43,369
Buildings & Improvements	36,101
Total	79,470
Accumulated Depreciation	$ 2,280
Embassy Suites Milpitas Silicon Valley [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Embassy Suites Milpitas Silicon Valley [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Embassy Suites Minneapolis Airport [Member]
Real Estate and Accumulated Depreciation
Debt	$ 34,961
Initial Costs
Land & Improvements	7,248
Building & Improvements	41,202
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	15,929
Gross Amount
Land & Improvements	9,673
Buildings & Improvements	54,706
Total	64,379
Accumulated Depreciation	$ 3,767
Embassy Suites Minneapolis Airport [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Embassy Suites Minneapolis Airport [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Embassy Suites Orlando International Drive [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	4,743
Building & Improvements	37,687
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,351
Gross Amount
Land & Improvements	4,833
Buildings & Improvements	38,948
Total	43,781
Accumulated Depreciation	$ 2,356
Embassy Suites Orlando International Drive [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Embassy Suites Orlando International Drive [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Embassy Suites Phoenix Biltmore [Member]
Real Estate and Accumulated Depreciation
Debt	$ 21,000
Initial Costs
Land & Improvements	24,680
Building & Improvements	24,487
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	2,413
Gross Amount
Land & Improvements	24,719
Buildings & Improvements	26,861
Total	51,580
Accumulated Depreciation	$ 1,694
Embassy Suites Phoenix Biltmore [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Embassy Suites Phoenix Biltmore [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Embassy Suites San Francisco Airport South San Francisco [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	39,616
Building & Improvements	55,163
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	7,488
Gross Amount
Land & Improvements	39,654
Buildings & Improvements	62,613
Total	102,267
Accumulated Depreciation	$ 3,866
Embassy Suites San Francisco Airport South San Francisco [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Embassy Suites San Francisco Airport South San Francisco [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Embassy Suites San Francisco Airport Waterfront [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	3,698
Building & Improvements	85,270
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	3,791
Gross Amount
Land & Improvements	3,961
Buildings & Improvements	88,798
Total	92,759
Accumulated Depreciation	$ 5,720
Embassy Suites San Francisco Airport Waterfront [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Embassy Suites San Francisco Airport Waterfront [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
San Francisco Marriott Union Square [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	46,773
Building & Improvements	107,841
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	12,948
Gross Amount
Land & Improvements	46,876
Buildings & Improvements	120,686
Total	167,562
Accumulated Depreciation	$ 7,417
San Francisco Marriott Union Square [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
San Francisco Marriott Union Square [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
The Knickerbocker New York [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	113,613
Building & Improvements	119,453
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,613
Gross Amount
Land & Improvements	113,622
Buildings & Improvements	121,057
Total	234,679
Accumulated Depreciation	$ 7,056
The Knickerbocker New York [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
The Knickerbocker New York [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Mills House Wyndham Grand Hotel [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	9,599
Building & Improvements	68,932
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	664
Gross Amount
Land & Improvements	9,601
Buildings & Improvements	69,594
Total	79,195
Accumulated Depreciation	$ 4,093
Mills House Wyndham Grand Hotel [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Mills House Wyndham Grand Hotel [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Wyndham Boston Beacon Hill [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	174
Building & Improvements	51,934
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,507
Gross Amount
Land & Improvements	178
Buildings & Improvements	53,437
Total	53,615
Accumulated Depreciation	$ 11,142
Wyndham Boston Beacon Hill [Member] \| Minimum
Gross Amount
Depreciation Life	10 years
Wyndham Boston Beacon Hill [Member] \| Maximum
Gross Amount
Depreciation Life	10 years
Wyndham Houston Medical Center [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	7,776
Building & Improvements	43,475
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	237
Gross Amount
Land & Improvements	7,793
Buildings & Improvements	43,695
Total	51,488
Accumulated Depreciation	$ 2,601
Wyndham Houston Medical Center [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Wyndham Houston Medical Center [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Wyndham New Orleans French Quarter [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	300
Building & Improvements	72,711
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	670
Gross Amount
Land & Improvements	300
Buildings & Improvements	73,381
Total	73,681
Accumulated Depreciation	$ 4,348
Wyndham New Orleans French Quarter [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Wyndham New Orleans French Quarter [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Wyndham Philadelphia Historic District [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	8,367
Building & Improvements	51,914
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	666
Gross Amount
Land & Improvements	8,403
Buildings & Improvements	52,544
Total	60,947
Accumulated Depreciation	$ 3,099
Wyndham Philadelphia Historic District [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Wyndham Philadelphia Historic District [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Wyndham Pittsburgh University Center [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	154
Building & Improvements	31,625
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	286
Gross Amount
Land & Improvements	158
Buildings & Improvements	31,907
Total	32,065
Accumulated Depreciation	$ 1,880
Wyndham Pittsburgh University Center [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Wyndham Pittsburgh University Center [Member] \| Maximum
Gross Amount
Depreciation Life	40 years
Wyndham San Diego Bayside [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	989
Building & Improvements	29,440
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	4,364
Gross Amount
Land & Improvements	1,079
Buildings & Improvements	33,714
Total	34,793
Accumulated Depreciation	$ 6,088
Wyndham San Diego Bayside [Member] \| Minimum
Gross Amount
Depreciation Life	11 years
Wyndham San Diego Bayside [Member] \| Maximum
Gross Amount
Depreciation Life	11 years
Wyndham Santa Monica At The Pier [Member]
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	27,054
Building & Improvements	45,866
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	616
Gross Amount
Land & Improvements	27,081
Buildings & Improvements	46,455
Total	73,536
Accumulated Depreciation	$ 2,767
Wyndham Santa Monica At The Pier [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Wyndham Santa Monica At The Pier [Member] \| Maximum
Gross Amount
Depreciation Life	40 years

Schedule III - Real Estate and Accumulated Depreciation - Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Land and Buildings and Improvements
Balance at beginning of period	$ 5,903,906	$ 6,165,296	$ 3,725,932
Add: Acquisitions	0	0	2,539,854
Add: Improvements	91,129	109,403	60,916
Less: Disposition of properties	(854,087)	(370,793)	(161,406)
Less: Impairment loss	(13,500)	0	0
Balance at end of period	5,127,448	5,903,906	6,165,296
Reconciliation of Accumulated Depreciation
Balance at beginning of period	(759,643)	(628,518)	(520,517)
Add: Depreciation for the period	(131,442)	(143,215)	(108,986)
Less: Disposition of properties	185,045	12,090	985
Balance at end of period	$ (706,040)	$ (759,643)	$ (628,518)