0001628280-21-003473 | 10-K | XBRL Viewer

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2020	Feb. 19, 2021	Jun. 30, 2020
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
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
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1,526,881,815
Entity Common Stock, Shares Outstanding		164,972,516
Documents Incorporated by Reference	Portions of the Definitive Proxy Statement for our 2021 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, 2020.
Entity Central Index Key	0001511337
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Shares of beneficial interest, par value $0.01 per share
Entity Information [Line Items]
Title of 12(b) Security	Common Shares of beneficial interest, par value $0.01 per share
Trading Symbol	RLJ
Security Exchange Name	NYSE
$1.95 Series A Cumulative Convertible Preferred Shares, par value $0.01 per share
Entity Information [Line Items]
Title of 12(b) Security	$1.95 Series A Cumulative Convertible Preferred Shares, par value $0.01 per share
Trading Symbol	RLJ-A
Security Exchange Name	NYSE

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets
Investment in hotel properties, net	$ 4,486,416	$ 4,614,966
Investment in unconsolidated joint ventures	6,798	15,171
Cash and cash equivalents	899,813	882,474
Restricted cash reserves	34,977	44,686
Hotel and other receivables, net of allowance of $292 and $251, respectively	13,346	39,762
Lease right-of-use assets	142,989	144,358
Deferred income tax asset, net	0	51,447
Prepaid expense and other assets	32,833	58,536
Total assets	5,617,172	5,851,400
Liabilities and Equity
Debt, net	2,587,731	2,195,707
Accounts payable and other liabilities	172,325	183,408
Advance deposits and deferred revenue	32,177	57,459
Lease liabilities	122,593	121,154
Accrued interest	6,206	3,024
Distributions payable	8,752	64,165
Total liabilities	2,929,784	2,624,917
Commitments and Contingencies (Note 10)
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, 2020 and 2019	366,936	366,936
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 165,002,752 and 169,852,246 shares issued and outstanding at December 31, 2020 and 2019, respectively	1,650	1,699
Additional paid-in capital	3,077,142	3,127,982
Accumulated other comprehensive loss	(69,050)	(19,514)
Distributions in excess of net earnings	(710,161)	(274,769)
Total shareholders’ equity	2,666,517	3,202,334
Noncontrolling interest:
Noncontrolling interest in consolidated joint ventures	13,002	14,065
Noncontrolling interest in the Operating Partnership	7,869	10,084
Total noncontrolling interest	20,871	24,149
Total equity	2,687,388	3,226,483
Total liabilities and equity	$ 5,617,172	$ 5,851,400

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Hotel and other receivables, allowance (in dollars)	$ 251	$ 598
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
Common shares of beneficial interest, outstanding (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
Series A Cumulative Preferred Stock
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, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues
Total revenues	$ 473,087	$ 1,566,192	$ 1,761,224
Expenses
Management and franchise fee expense	21,057	120,797	138,143
Depreciation and amortization	194,168	211,584	241,641
Impairment loss	0	13,500	0
Property tax, insurance and other	103,470	119,287	135,059
General and administrative	41,141	45,252	49,195
Transaction costs	(158)	1,211	2,057
Total operating expenses	730,177	1,348,044	1,505,181
Other income	1,941	1,242	2,791
Interest income	4,237	8,720	4,891
Interest expense	(100,169)	(91,295)	(101,643)
Gain (loss) on sale of hotel properties, net	2,703	(9,300)	30,941
(Loss) gain on extinguishment of indebtedness, net	0	(214)	5,996
(Loss) income before equity in (loss) income from unconsolidated joint ventures	(348,378)	127,301	199,019
Equity in (loss) income from unconsolidated joint ventures	(8,454)	(1,673)	636
(Loss) income before income tax (expense) benefit	(356,832)	125,628	199,655
Income tax (expense) benefit	(51,970)	3,751	(8,793)
Net (loss) income	(408,802)	129,379	190,862
Net loss (income) attributable to noncontrolling interests:
Noncontrolling interest in consolidated joint ventures	2,327	289	(17)
Noncontrolling interest in the Operating Partnership	2,034	(487)	(719)
Preferred distributions - consolidated joint venture	0	(186)	(1,483)
Redemption of preferred equity - consolidated joint venture	0	(1,153)	0
Net (loss) income attributable to RLJ	(404,441)	127,842	188,643
Preferred dividends	(25,115)	(25,115)	(25,115)
Net (loss) income attributable to common shareholders	$ (429,556)	$ 102,727	$ 163,528
Basic per common share data:
Net income per share attributable to common shareholders - basic (in dollars per share)	$ (2.61)	$ 0.59	$ 0.93
Weighted-average number of common shares (in shares)	164,503,661	171,287,086	174,225,130
Diluted per common share data:
Net income per share attributable to common shareholders - diluted (in dollars per share)	$ (2.61)	$ 0.59	$ 0.93
Weighted-average number of common shares (in shares)	164,503,661	171,388,476	174,316,405
Comprehensive (loss) income:
Net (loss) income	$ (408,802)	$ 129,379	$ 190,862
Unrealized (loss) gain on interest rate derivatives	(49,536)	(33,459)	7,349
Reclassification of unrealized gain on discontinued interest rate derivatives to interest expense		(2,250)	0
Comprehensive (loss) income	(458,338)	93,670	198,211
Comprehensive (loss) income attributable to RLJ	(453,977)	93,286	195,992
Room revenue
Revenues
Revenue	397,754	1,317,085	1,473,047
Expenses
Cost of Goods and Services Sold	124,063	329,077	364,820
Food and beverage revenue
Revenues
Revenue	40,384	177,499	205,518
Expenses
Cost of Goods and Services Sold	35,220	134,206	157,156
Other revenue
Revenues
Revenue	34,949	71,608	82,659
Expenses
Cost of Goods and Services Sold	211,216	373,130	417,110
Hotel
Expenses
Cost of Goods and Services Sold	$ 391,556	$ 957,210	$ 1,077,229

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Series A Cumulative Preferred Stock	Common Shares of beneficial interest, par value $0.01 per share	Additional Paid-in-Capital	Retained Earnings (Distributions in excess of net earnings)	Accumulated Other Comprehensive Loss	Operating Partnership	Consolidated Joint Venture	Preferred Equity in a Consolidated Joint Venture
Balance (in shares) at Dec. 31, 2017		12,879,475	174,869,046
Balance at Dec. 31, 2017	$ 3,570,278	$ 366,936	$ 1,749	$ 3,208,002	$ (82,566)	$ 8,846	$ 11,181	$ 11,700	$ 44,430
Increase (Decrease) in Equity
Net income	190,862				188,643		719	17	1,483
Net (loss) income attributable to RLJ	188,643
Unrealized gain (loss) on interest rate derivatives	7,349					7,349
Reclassification of unrealized gain on discontinued interest rate derivatives to interest expense	$ 0
Redemption of Operating Partnership units, shares	(14,000)
Redemption of Operating Partnership units, value							(14)
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 minimum required federal and state tax withholding on vesting restricted stock	$ (3,585)		$ (2)	(3,583)
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)
Forfeiture of restricted stock (in shares)			(113,325)
Forfeiture of restricted stock	0		$ 1	(1)
Contributions from consolidated joint venture partners	191							191
Distributions on preferred shares	(25,115)				(25,115)
Distributions on common shares and units	(232,497)				(231,438)		(1,059)
Preferred distributions - consolidated joint venture	(1,483)								(1,483)
Balance (in shares) at Dec. 31, 2018		12,879,475	174,019,616
Balance at Dec. 31, 2018	3,496,941	$ 366,936	$ 1,740	3,195,381	(150,476)	16,195	10,827	11,908	44,430
Increase (Decrease) in Equity
Net income	129,379						487	(289)	1,339
Net (loss) income attributable to RLJ	127,842				127,842
Unrealized gain (loss) on interest rate derivatives	(33,459)					(33,459)
Reclassification of unrealized gain on discontinued interest rate derivatives to interest expense	(2,250)					(2,250)
Redemption of Operating Partnership units, shares			0
Redemption of Operating Partnership units, value	(9)		$ 0	0			(9)		0
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 minimum required federal and state tax withholding on vesting restricted stock	$ (1,802)		$ (1)	(1,801)
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)
Forfeiture of restricted stock (in shares)			(18,895)
Forfeiture of restricted stock	0		$ 0	0
Contributions from consolidated joint venture partners	2,446							2,446
Distributions on preferred shares	(25,115)				(25,115)
Distributions on common shares and units	(228,241)				(227,020)		(1,221)
Preferred distributions - consolidated joint venture	(186)								(186)
Redemption of preferred equity - consolidated joint venture	(45,583)								(45,583)
Balance (in shares) at Dec. 31, 2019		12,879,475	169,852,246
Balance at Dec. 31, 2019	3,226,483	$ 366,936	$ 1,699	3,127,982	(274,769)	(19,514)	10,084	14,065	$ 0
Increase (Decrease) in Equity
Net income	(408,802)						(2,034)	(2,327)
Net (loss) income attributable to RLJ	(404,441)				(404,441)
Unrealized gain (loss) on interest rate derivatives	(49,536)					(49,536)
Reclassification of unrealized gain on discontinued interest rate derivatives to interest expense						0
Redemption of Operating Partnership units, shares			0
Redemption of Operating Partnership units, value	(8)		$ 0	0			(8)
Issuance of restricted stock (in shares)			801,463
Issuance of restricted stock	0		$ 8	(8)
Amortization of share-based compensation	13,356			13,356
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock (in shares)			(152,629)
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock	$ (1,641)		$ (2)	(1,639)
Number of shares acquired as part of a share repurchase program (in shares)	(5,489,335)		(5,489,335)
Shares acquired as part of a share repurchase program	$ (62,604)		$ (55)	(62,549)
Forfeiture of restricted stock (in shares)			(8,993)
Forfeiture of restricted stock	0		$ 0	0
Contributions from consolidated joint venture partners	1,264							1,264
Distributions on preferred shares	(25,115)				(25,115)
Distributions on common shares and units	(6,009)				(5,836)		(173)
Preferred distributions - consolidated joint venture	0
Balance (in shares) at Dec. 31, 2020		12,879,475	165,002,752
Balance at Dec. 31, 2020	$ 2,687,388	$ 366,936	$ 1,650	$ 3,077,142	$ (710,161)	$ (69,050)	$ 7,869	$ 13,002

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities
Net (loss) income	$ (408,802)	$ 129,379	$ 190,862
Adjustments to reconcile net (loss) income to cash flow (used in) provided by operating activities:
(Gain) loss on sale of hotel properties, net	(2,703)	9,300	(30,941)
Loss (gain) on extinguishment of indebtedness, net	0	214	(5,996)
Depreciation and amortization	194,168	211,584	241,641
Amortization of deferred financing costs	4,416	4,100	3,504
Other amortization	(2,404)	(2,055)	(3,081)
Unrealized (gain) loss on discontinued cash flow hedges	(376)	376	0
Equity in loss (income) from unconsolidated joint ventures	8,454	1,673	(636)
Distributions of income from unconsolidated joint ventures	0	1,964	2,591
Impairment loss	0	13,500	0
Amortization of share-based compensation	12,396	11,459	12,251
Deferred income taxes	51,447	(6,818)	8,384
Changes in assets and liabilities:
Hotel and other receivables, net	26,409	8,813	5,580
Prepaid expense and other assets	19,178	(6,335)	351
Accounts payable and other liabilities	(48,791)	(10,706)	(20,590)
Advance deposits and deferred revenue	(25,282)	35,766	82
Accrued interest	3,182	(4,889)	(9,168)
Net cash flow (used in) provided by operating activities	(168,708)	397,325	394,834
Cash flows from investing activities
Proceeds from the sale of hotel properties, net	5,169	685,870	475,063
Improvements and additions to hotel properties	(73,337)	(157,354)	(197,599)
Contributions to unconsolidated joint ventures	(100)	(603)	(350)
Distributions from unconsolidated joint ventures in excess of earnings	(1,576)	(2,499)	0
Net cash flow (used in) provided by investing activities	(66,692)	530,412	277,114
Cash flows from financing activities
Borrowings under Revolver	400,000	140,000	300,000
Repayments under Revolver	0	(140,000)	(300,000)
Repayments of Senior Notes	0	(112)	(539,026)
Proceeds from mortgage loans	0	381,000	0
Scheduled mortgage loan principal payments	(3,376)	(3,979)	(6,335)
Repayments of mortgage loans	0	(374,500)	(113,137)
Repurchase of common shares under a share repurchase program	(62,604)	(77,834)	(21,814)
Repurchase of common shares to satisfy employee tax withholding requirements	(1,641)	(1,802)	(3,585)
Distributions on preferred shares	(25,116)	(25,115)	(25,115)
Distributions on common shares	(61,000)	(228,287)	(231,188)
Distributions on Operating Partnership units	(428)	(1,230)	(1,050)
Payments of deferred financing costs	(4,069)	(10,111)	(3,640)
Preferred distributions - consolidated joint venture	0	(312)	(1,483)
Redemption of preferred equity - consolidated joint venture	0	(45,583)	0
Contributions from consolidated joint venture partners	1,264	2,446	191
Net cash flow provided by (used in) financing activities	243,030	(385,419)	(946,182)
Net change in cash, cash equivalents, and restricted cash reserves	7,630	542,318	(274,234)
Cash, cash equivalents, and restricted cash reserves, beginning of year	927,160	384,842	659,076
Cash, cash equivalents, and restricted cash reserves, end of year	$ (934,790)	$ (927,160)	$ (384,842)

Investment in Hotel Properties

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Investment in Hotel Properties

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


	December 31, 2020		December 31, 2019
Land and improvements	$	1,089,597	$	1,088,436
Buildings and improvements	4,084,712		4,039,012
Furniture, fixtures and equipment	697,404		685,699
	5,871,713		5,813,147
Accumulated depreciation	(1,385,297)		(1,198,181)
Investment in hotel properties, net	$	4,486,416	$	4,614,966

For the years ended December 31, 2020, 2019 and 2018, the Company recognized depreciation expense related to its investment in hotel properties of approximately $193.3 million, $209.6 million and $233.8 million, respectively.

Impairment

During 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, 2020 and December 31, 2018.

Supplemental Information to Statements of Cash Flows

12 Months Ended

Dec. 31, 2020

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,
	2020		2019		2018
Reconciliation of cash, cash equivalents, and restricted cash reserves
Cash and cash equivalents	$	899,813	$	882,474	$	320,147
Restricted cash reserves	34,977		44,686		64,695
Cash, cash equivalents, and restricted cash reserves	$	934,790	$	927,160	$	384,842

Interest paid	$	98,511	$	97,259	$	114,280

Income taxes paid	$	1,501	$	4,090	$	1,836

Operating cash flow lease payments for operating leases	$	11,813	$	15,270

Right-of-use asset obtained in exchange for lease obligation due to remeasurement	$	4,100	$	—

Supplemental investing and financing transactions










In conjunction with the sale of hotel properties, the Company recorded the following:
Sale of hotel properties	$	4,883	$	705,681	$	530,850
Escrow related to certain post-closing obligations	—		—		1,000
Purchase option for land subject to a ground lease	—		—		(44,831)
Transaction costs	(133)		(10,482)		(10,668)
Operating prorations	(98)		(9,329)		(1,288)
Receipt of forfeited deposit	517		—		—
Proceeds from the sale of hotel properties, net	$	5,169	$	685,870	$	475,063

Supplemental non-cash transactions
Change in fair market value of designated interest rate swaps	$	(49,536)	$	(33,459)	$	7,349
Accrued capital expenditures	$	7,313	$	14,234	$	15,709
Distributions payable	$	8,752	$	64,165	$	65,557

General	12 Months Ended
General	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	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, 2020, there were 165,775,045 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, 2020, the Company owned 103 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 99 of its hotel properties, a 98.3% controlling interest in the DoubleTree Metropolitan Hotel New York City, a 95.0% controlling interest in The Knickerbocker, and 50% interests in entities owning two hotel properties. The Company consolidates its real estate interests in the 101 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 102 of the 103 hotel properties to its taxable REIT subsidiaries ("TRS"), of which the Company owns a controlling financial interest. COVID-19 The global outbreak of a novel strain of coronavirus (COVID-19) and the public health measures that have been undertaken in response have had, and will likely continue to have, a material adverse impact on the Company's financial results and liquidity, and such adverse impact may continue well beyond the containment of such outbreak and vaccination distribution. Since the extent to which the COVID-19 pandemic will continue to impact our operations will depend on future developments that are highly uncertain, the Company cannot estimate the impact on its business, financial condition or near- or longer-term financial or operational results with reasonable certainty. Given the impact on lodging demand, the Company has taken various actions to help mitigate the effects of the COVID-19 pandemic on its operating results and to preserve liquidity. Operational measures the Company has taken include: •Suspension of Hotel Operations: The Company had previously announced the suspension of operations at 57 of its hotel properties. As government mandated stay-in-place restrictions were lifted, the Company developed a framework to open the suspended hotels. The Company has reopened 50 of its hotel properties as of December 31, 2020, and subsequent to the end of the year has reopened 2 hotel properties. The Company continues to evaluate reopening the remaining 5 suspended hotel properties based on market conditions. The remaining suspended hotel properties are generally located within the central business districts of New York City and San Francisco, or are part of a cluster where the Company owns multiple hotels in the same immediate area. In the markets where stay-in-place restrictions are reinstated, the Company would consider temporarily re-suspending hotel operations where demand is inadequate. •Cost Containment Initiatives: The Company continues to operate with reduced operating expenses by implementing stringent operational cost containment measures. These measures include significantly reduced staffing, reduced energy costs, elimination of non-essential amenities and services and the closure of several floors and most food and beverage outlets at properties that remain open. •Capital Investment Reduction: The Company reduced its 2020 capital expenditure program by deferring all capital investments, other than completing projects that were substantially underway and nearing completion. •Return on Investment ("ROI") Project Suspensions: The Company suspended most of the 2020 ROI projects. In addition, the Company has taken aggressive actions to increase liquidity and preserve cash at the corporate level including: •Common Stock Dividend: The Company’s board of trustees authorized the first, second, third and fourth quarter common cash dividends of $0.01 per common share, which reflects a significant reduction compared to the Company's dividend payout prior to the COVID-19 pandemic. •Share Repurchase: The Company suspended all repurchases of its common shares and Series A Preferred Shares (defined below), as applicable. •Increased Liquidity: The Company enhanced its liquidity position by drawing $400.0 million on its $600.0 million revolving credit facility. As of December 31, 2020, the Company had approximately $934.8 million of cash and cash equivalents and restricted cash reserves.

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	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 projected 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 a projected 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, sales proceeds in the reversion year, 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 7) 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, 2020, 2019 and 2018, approximately $4.4 million, $4.1 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. Leases On January 1, 2019, the Company adopted ASU 2016-02, Leases (Topic 842) using the modified retrospective transition approach. This ASU provides the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). 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. 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. 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, 2020 and 2019, 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, 2020 and 2019, 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. The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases, and for net operating loss, capital loss and tax credit carryforwards. The deferred tax assets and liabilities are measured using the enacted income tax rates in effect for the year in which those temporary differences are expected to be realized or settled. The effect on the deferred tax assets and liabilities from a change in tax rates is recognized in earnings in the period when the new rate is enacted. However, deferred tax assets are recognized only to the extent that it is more likely than not that they will be realized based on consideration of all available evidence, including the future reversals of existing taxable temporary differences, future projected taxable income and tax planning strategies. Valuation allowances are provided if, based upon the weight of the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company 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 June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which modifies the measurement approach for credit losses on financial assets measured on an amortized cost basis from an "incurred loss" method to an "expected loss" method. In November 2019, the FASB issued ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments – Credit Losses. The Company adopted this new standard on January 1, 2020. The adoption of this standard 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 Company adopted this new standard on January 1, 2020. The adoption of this standard did not have a material impact on the Company's consolidated financial statements. In March 2020, FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The guidance provides optional expedients for applying GAAP to contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate ("LIBOR") or another reference rate expected to be discontinued at the end of 2021 because of reference rate reform. The guidance is effective immediately and expires on December 31, 2022. Based on the Company's assessment, the adoption of this standard is not expected to have a material impact on the Company's consolidated financial statements.

Investment in Unconsolidated Joint Ventures

12 Months Ended

Dec. 31, 2020

Investment in Unconsolidated Joint Ventures [Abstract]

Investment in Unconsolidated Joint Ventures

As of December 31, 2020 and 2019, the Company owned 50% interests in joint ventures that owned two hotel properties. During the year ended December 31, 2020, one of the unconsolidated joint ventures did not exercise its right to extend the term of the ground lease. Accordingly the ground lease will terminate on October 31, 2021 and the property will revert to the ground lessor at that time. As a result, the Company recorded an impairment loss of $6.5 million to write down the Company's investment in this joint venture, which is included in equity in (loss) income of unconsolidated entities in the accompanying consolidated statements of operations.

During the year ended December 31, 2019, the Company sold two hotels located in Myrtle Beach, South Carolina. In addition, the joint ventures that were associated with these two hotels sold their assets. The Company had owned 50% interests in these joint ventures. 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 5, 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, 2020 and 2019, 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, 2020		December 31, 2019
Equity basis of the joint venture investments	$	(6,687)	$	(4,236)
Cost of the joint venture investments in excess of the joint venture book value	13,485		19,407
Investment in unconsolidated joint ventures	$	6,798	$	15,171

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,
	2020		2019		2018
Operating (loss) income	$	(913)	$	1,667	$	2,105
Depreciation of cost in excess of book value	(995)		(1,265)		(1,469)
Impairment loss	(6,546)		—		—
Loss on sale	—		(2,075)		—
Equity in (loss) income from unconsolidated joint ventures	$	(8,454)	$	(1,673)	$	636

Revenue

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer

Revenue

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


	For the year ended December 31, 2020
	Room Revenue		Food and Beverage Revenue		Other Revenue		Total Revenue
South Florida	$	52,213	$	7,058	$	4,359	$	63,630
Southern California	53,814		4,013		5,590		63,417
Northern California	51,107		4,160		3,204		58,471
Chicago	24,267		4,187		1,193		29,647
New York City	25,292		2,189		1,231		28,712
Houston	19,401		827		1,931		22,159
Washington, DC	17,843		416		1,220		19,479
Denver	12,285		2,948		864		16,097
Charleston	12,661		2,145		1,188		15,994
Pittsburgh	13,815		1,481		631		15,927
Other	115,056		10,960		13,538		139,554
Total	$	397,754	$	40,384	$	34,949	$	473,087


	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

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 12
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-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
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-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Sale of Hotel Properties

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

Sale of Hotel Properties

In connection with the sale of hotel properties for the years ended December 31, 2020, 2019, and 2018, the Company recorded a gain of $2.7 million, a loss of $9.3 million, and a gain of $30.9 million, respectively.

During the year ended December 31, 2020, the Company sold one hotel property for a sales price of approximately $4.9 million.

The following table discloses the hotel property that was sold during the year ended December 31, 2020:

Hotel Property Name

Location

Sale Date

Rooms

Residence Inn Houston Sugarland

Stafford, TX

December 1, 2020

Total

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.

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

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

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

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

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

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

Residence Inn Austin North Parmer Lane

Austin, TX

August 14, 2019

Residence Inn Denver West Golden

Golden, CO

August 14, 2019

Residence Inn Boulder Louisville

Louisville, CO

August 14, 2019

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

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

Marriott Austin South

Austin, TX

November 22, 2019

211

Residence Inn Austin South

Austin, TX

November 22, 2019

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.

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

San Francisco, CA

October 15, 2018

585

Total

2,206

Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Debt

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


	December 31, 2020		December 31, 2019
Senior Notes	$	495,759	$	500,484
Revolver	400,000		—
Term Loans, net	1,168,304		1,168,793
Mortgage loans, net	523,668		526,430
Debt, net	$	2,587,731	$	2,195,707

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, 2020		December 31, 2019

Senior unsecured notes (1) (2) (3)	6.00%	June 2025	$	495,759	$	500,484

(1)Requires payments of interest only through maturity.

(2)The senior unsecured notes include $20.9 million and $25.6 million at December 31, 2020 and 2019, respectively, related to acquisition related fair value adjustments on the Senior Notes.

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

If an event of default under the indenture governing the Senior Notes 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. The Senior Notes are subject to a maximum unsecured leverage maintenance covenant, which is based on asset value that is calculated at historical cost.

In addition, the Senior Notes are subject to various incurrence covenants that limit the ability of the Company's subsidiary, FelCor Lodging Limited Partnership ("Felcor LP"), to incur additional debt if these covenants are violated. Failure to meet these incurrence covenants thresholds does not, in and of itself, constitute an event of default under the Senior Notes indenture. As of December 31, 2020, the Company was in compliance with all covenants except the interest coverage ratio, which, as a result, currently prohibits FelCor LP from incurring additional debt.

As of December 31, 2019, 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, the Company was in compliance with all financial covenants. As of December 31, 2020, the Company was not required to comply with certain financial covenants, as described below.

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 2.50%, 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, 2020 (1)	Maturity Date	December 31, 2020		December 31, 2019
Revolver (2)	3.77%	May 2024	$	400,000	$	—
$150 Million Term Loan Maturing 2022	4.03%	January 2022	150,000		150,000
$400 Million Term Loan Maturing 2023	4.73%	January 2023	400,000		400,000
$225 Million Term Loan Maturing 2023	4.73%	January 2023	225,000		225,000
$400 Million Term Loan Maturing 2025	3.92%	May 2025	400,000		400,000
			1,575,000		1,175,000
Deferred financing costs, net (3)			(6,696)		(6,207)
Total Revolver and Term Loans, net			$	1,568,304	$	1,168,793

(1)Interest rate at December 31, 2020 gives effect to interest rate hedges.

(2)At December 31, 2020 and 2019, there was $200.0 million and $600.0 million of remaining capacity on the Revolver, respectively. The Company has the ability to further increase the total 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 $4.1 million and $3.4 million as of December 31, 2020 and 2019, respectively, related to deferred financing costs on the Revolver, which are included in prepaid expense and other assets in the accompanying consolidated balance sheets.

The Revolver and Term Loans are subject to various financial covenants. A summary of the most restrictive covenants is as follows:

Covenant

Compliance

Leverage ratio (1)

≤ 7.00x

N/A (3)

Fixed charge coverage ratio (2)

≥ 1.50x

N/A (3)

Secured indebtedness ratio

≤ 45.0%

N/A (3)

Unencumbered indebtedness ratio

≤ 60.0%

N/A (3)

Unencumbered debt service coverage ratio

≥ 2.00x

N/A (3)

Maintain minimum liquidity level

≥ $125.0 million

Yes

(1)Leverage ratio is net indebtedness, as defined in the Revolver and Term Loan agreements, to corporate earnings before interest, taxes, depreciation, and amortization ("EBITDA"), as defined in the Revolver and Term Loan agreements.

(2)Fixed charge coverage ratio is Adjusted EBITDA, generally defined in the Revolver and Term Loan agreements as EBITDA less furniture, fixtures and equipment ("FF&E") reserves, to fixed charges, which is generally defined in the Revolver and Term Loan agreements as interest expense, all regularly scheduled principal payments, preferred dividends paid, and cash taxes paid.

(3)The Company is not currently required to comply with these covenants, as described below.

During the year ended December 31, 2020, the Company entered into two amendments to its Revolver and Term Loans. The amendments suspend the testing of all existing financial maintenance covenants under the Revolver and the Term Loan agreements for all periods through and including the fiscal quarter ending December 31, 2021 (the “Covenant Relief Period”). In addition, for periods following the Covenant Relief Period, the amendments modify the covenant thresholds for the leverage ratio and unencumbered debt service coverage ratio as follows:

•Increasing the maximum leverage ratio to 8.50x for the first two quarters following the Covenant Relief Period, 8.00x for the third and fourth quarters following the Covenant Relief Period, 7.50x for the fifth quarter following the Covenant Relief Period (such period, the "Leverage Relief Period"), and returning to 7.00x for the quarter ending June 30, 2023.

•Reducing the minimum unencumbered debt service coverage ratio to 1.65x for the first three quarters following the Covenant Relief Period.

•The Company is required to maintain a minimum liquidity level of $125.0 million.

Pursuant to the amendments and through the date that the financial statements are delivered for the quarter ending March 31, 2022 (the "Restriction Period"), the Company is subject to the following restrictions:

•The net cash proceeds from asset sales, equity issuances and incurrences of indebtedness will, subject to various exceptions, be required to be applied as a mandatory prepayment of certain amounts outstanding under the Revolver and the Term Loans.

•Additional negative covenants that limit the ability of the Company and its subsidiaries to incur additional indebtedness, make prepayments of other indebtedness, make dividends and distributions (with certain exceptions, including for the payment of a quarterly cash dividend of $0.01 per common share, the payment of a quarterly cash dividend on the Company’s Series A Cumulative Convertible Preferred Shares and other payments for purposes of maintaining REIT status) and stock repurchases. In addition, there are limitations on capital expenditures exceeding $175.0 million, and investments, including acquisitions or mergers, exceeding $200.0 million. All of these limitations are subject to various exceptions.

•Requirement to pledge the equity interests in certain subsidiaries that own unencumbered properties to secure the Revolver and Term Loans. The equity pledge requirement is also required to be satisfied following the Restriction Period until such time as the leverage ratio is no greater than 6.50x for two consecutive fiscal quarters (the "Covenant Relief Pledged Collateral Period").

•Extension of (1) the mandatory prepayment requirement applicable to dispositions of unencumbered properties through the end of the Covenant Relief Pledged Collateral Period and (2) the requirement to maintain a minimum liquidity level of $125.0 million through the end of the Leverage Relief Period.

The amendments further provide that, until the earlier of (1) April 1, 2023 or the day after the end of the fifth quarter immediately following the end of the Covenant Relief Period and (2) such time as the leverage ratio is less than or equal to 7.00x, borrowings under the Revolver and the Term Loan agreements will bear interest, at the Company's election, at a per annum rate of (i) in the case of the Revolver, (a) LIBOR plus a margin of 250 basis points or (b) a Base Rate, as defined in the credit agreement, plus a margin of 150 basis points, and (ii) in the case of each of the Term Loans, (a) LIBOR plus a margin of 240 basis points or (b) a Base Rate, as defined in the credit agreement, plus a margin of 140 basis points. The amendments also add a floor of 0.25% to the LIBOR interest rate determination, subject to certain exceptions, under both the Revolver and the Term Loan agreements.

At the Company's election, the Restriction Period and the Covenant Relief Period may be terminated early if the Company is at such time able to comply with the applicable financial covenants. If the Company assesses that it is unlikely to meet the financial covenant thresholds for periods following the Covenant Relief Period, then the Company will seek an extension of the Covenant Relief Period.

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, 2020	Maturity Date		December 31, 2020		December 31, 2019
Mortgage loan (1)	7	1.66%	April 2022	(5)	$	200,000	$	200,000
Mortgage loan (2)	1	5.25%	June 2022		30,332		31,215
Mortgage loan (3)	3	4.95%	October 2022		86,775		89,299
Mortgage loan (4)	1	4.94%	October 2022		27,972		28,785
Mortgage loan (1)	4	1.74%	April 2024	(5)	85,000		85,000
Mortgage loan (1)	3	1.74%	April 2024	(5)	96,000		96,000


	19				526,079		530,299
Deferred financing costs, net					(2,411)		(3,869)
Total mortgage loans, net					$	523,668	$	526,430

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

(2)Includes $0.3 million and $0.5 million at December 31, 2020 and 2019, respectively, related to a fair value adjustment on a mortgage loan.

(3)Includes $0.9 million and $1.4 million at December 31, 2020 and 2019, respectively, related to fair value adjustments on the mortgage loans.

(4)Includes $0.3 million and $0.4 million at December 31, 2020 and 2019, respectively, related to a fair value adjustment on the mortgage loan.

(5)The mortgage loan provides two one year extension options.

Certain mortgage agreements are subject to various maintenance covenants requiring the Company to maintain a minimum debt yield or debt service coverage ratio ("DSCR"). Failure to meet the debt yield or DSCR thresholds is not an event of default, but instead triggers a cash trap event. During the cash trap event, the lender or servicer of the mortgage loan controls cash outflows until the loan is covenant compliant. In addition, certain mortgage loans have other requirements including continued operation and maintenance of the hotel property. At December 31, 2020, five mortgage loans failed to meet the DSCR threshold and were in a cash trap event. The Company was in compliance with all other maintenance covenants associated with the other mortgage loan at December 31, 2020 and 2019.

Interest Expense

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


	For the year ended December 31,
	2020		2019		2018
Senior Notes	$	23,767	$	23,793	$	28,428
Revolver and Term Loans	55,413		42,272		43,458
Mortgage loans	16,949		20,754		26,253

Amortization of deferred financing costs	4,416		4,100		3,504
Undesignated interest rate swaps	(376)		376		—
Total interest expense	$	100,169	$	91,295	$	101,643

Future Minimum Principal Payments

As of December 31, 2020, the future minimum principal payments were as follows (in thousands):


2021	$	3,279
2022	490,386
2023	625,000
2024	581,000
2025	874,888

Total (1)	$	2,574,553

(1)Excludes a total of $22.3 million related to fair value adjustments on debt.

Derivatives and Hedging

12 Months Ended

Dec. 31, 2020

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, 2020		December 31, 2019		December 31, 2020		December 31, 2019











Swap-cash flow	1.15%	April 2021	$	100,000	$	100,000	$	(398)	$	607
Swap-cash flow	1.20%	April 2021	100,000		100,000		(418)		538
Swap-cash flow	2.15%	April 2021	75,000		75,000		(594)		(590)
Swap-cash flow	1.91%	April 2021	75,000		75,000		(523)		(337)
Swap-cash flow	1.61%	June 2021	50,000		50,000		(433)		(32)
Swap-cash flow	1.56%	June 2021	50,000		50,000		(416)		13
Swap-cash flow	1.71%	June 2021	50,000		50,000		(462)		(109)
Swap-cash flow	2.29%	December 2022	200,000		200,000		(9,044)		(4,587)
Swap-cash flow	2.29%	December 2022	125,000		125,000		(5,648)		(2,859)
Swap-cash flow	2.38%	December 2022	200,000		200,000		(9,436)		(5,155)
Swap-cash flow	2.38%	December 2022	100,000		100,000		(4,716)		(2,574)
Swap-cash flow	2.75%	November 2023	100,000		100,000		(7,635)		(3,590)
Swap-cash flow (1)	2.51%	December 2023	75,000		75,000		(5,284)		(2,120)
Swap-cash flow (1)	2.39%	December 2023	75,000		75,000		(5,012)		(1,858)
Swap-cash flow	1.35%	September 2021	49,000		49,000		(454)		181
Swap-cash flow	1.28%	September 2022	100,000		100,000		(2,035)		690
Swap-cash flow (2)	1.24%	September 2025	150,000		150,000		(5,508)		2,268
Swap-cash flow (3)	1.16%	April 2024	50,000		—		(1,464)		—
Swap-cash flow (3)	1.20%	April 2024	50,000		—		(1,526)		—
Swap-cash flow (3)	1.15%	April 2024	50,000		—		(1,450)		—
Swap-cash flow (3)	1.10%	April 2024	50,000		—		(1,374)		—
Swap-cash flow (3)	0.98%	April 2024	25,000		—		(596)		—
Swap-cash flow (3)	0.95%	April 2024	25,000		—		(573)		—
Swap-cash flow (3)	0.93%	April 2024	25,000		—		(558)		—
Swap-cash flow (3)	0.90%	April 2024	25,000		—		(535)		—
Swap-cash flow	0.85%	December 2024	50,000		—		(1,249)		—
Swap-cash flow	0.75%	December 2024	50,000		—		(1,047)		—
Swap-cash flow (4)	0.65%	January 2026	50,000		—		(662)		—
			$	2,124,000	$	1,674,000	$	(69,050)	$	(19,514)

(1)Effective in January 2021.

(2)Effective in September 2021.

(3)Effective in April 2021.

(4)Effective in July 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, 2020		December 31, 2019		December 31, 2020		December 31, 2019
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, 2020 and 2019, the aggregate fair value of the interest rate swap liabilities of $69.1 million and $24.2 million, respectively, was included in accounts payable and other liabilities in the accompanying consolidated balance sheets. As of December 31, 2019, the aggregate fair value of the interest rate swap assets of $4.3 million was included in prepaid expense and other assets in the accompanying consolidated balance sheet.

As of December 31, 2020 and 2019, there was approximately $69.1 million and $19.5 million, respectively, of unrealized losses included in accumulated other comprehensive loss 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, 2020 and 2019. For the year ended December 31, 2020, approximately $19.7 million of the amounts included in accumulated other comprehensive loss were reclassified into interest expense. For the year ended December 31, 2019, approximately $5.4 million of the amounts included in accumulated other comprehensive income were reclassified into interest expense. Approximately $27.7 million of the unrealized losses included in accumulated other comprehensive loss at December 31, 2020 is expected to be reclassified into interest expense within the next 12 months.

Fair Value

12 Months Ended

Dec. 31, 2020

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 for the Senior Notes, which are Level 2 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, 2020				December 31, 2019
	Carrying Value		Fair Value		Carrying Value		Fair Value
Senior Notes	$	495,759	$	484,229	$	500,484	$	497,835
Revolver and Term Loans, net	1,568,304		1,543,636		1,168,793		1,176,068
Mortgage loans, net	523,668		512,118		526,430		532,249
Debt, net	$	2,587,731	$	2,539,983	$	2,195,707	$	2,206,152

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, 2020 (in thousands):


	Fair Value at December 31, 2020
	Level 1		Level 2		Level 3		Total

Interest rate swap liability	$	—	$	(69,050)	$	—	$	(69,050)
Total	$	—	$	(69,050)	$	—	$	(69,050)

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 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, 2020, 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, 2020

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Operating Leases

As of December 31, 2020, 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 $12.4 million for the year ended December 31, 2020, which consisted of $11.6 million of fixed lease expense and $0.8 million of variable lease expense. 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 for the year ended December 31, 2018. 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	2020		2019		2018 (1)

Wyndham Boston Beacon Hill	2028	—	$	0.4	$	0.9	$	0.9
Wyndham San Diego Bayside	2029	—	4.1		4.8		4.8
DoubleTree Suites by Hilton Orlando Lake Buena Vista	2032	2057	0.3		0.9		0.8
Residence Inn Palo Alto Los Altos	2033	—	0.1		0.1		0.1
Wyndham Pittsburgh University Center	2038	2083	0.7		0.7		0.8


Marriott Louisville Downtown	2053	2153 (2)	—		—		—
Embassy Suites San Francisco Airport Waterfront	2059	—	1.2		2.4		2.3
Wyndham New Orleans French Quarter	2065	—	0.5		0.5		0.5

Courtyard Charleston Historic District	2096	—	1.0		1.0		1.0
Courtyard Austin Downtown Convention Center and Residence Inn Downtown Convention Center	2100	—	0.4		0.8		0.9

Courtyard Waikiki Beach	2112	—	3.7		3.6		3.5

			$	12.4	$	15.7	$	15.6

(1) Excludes $6.6 million of ground lease expense related to hotel properties sold during the year ended December 31, 2018.

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

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


	December 31, 2020
2021	$	11,201
2022	11,309
2023	11,405
2024	11,465
2025	11,516
Thereafter	534,621
Total future lease payments	591,517
Imputed interest	(468,924)
Lease liabilities	$	122,593

The following table presents certain information related to the Company's operating leases as of December 31, 2020:


Weighted average remaining lease term	62 years
Weighted average discount rate	7.03	%

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, 2020 and 2019, approximately $35.0 million and $44.7 million, respectively, was available in the restricted cash reserves for future capital expenditures, real estate taxes and insurance. In addition, due to the effects of the COVID-19 pandemic on its operations, the Company has worked with the hotel brands, third-party managers and lenders to allow the use of available restricted cash reserves to cover operating shortfalls at certain hotels.

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 Company's merger with FelCor Lodging Trust, Inc. ("FelCor"), 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 ("NRF") 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. During the year ended December, 31 2020, the Company settled the dispute with IHG and NRF.

Management Agreements

As of December 31, 2020, 102 of the Company's consolidated hotel properties were operated pursuant to long-term management agreements with initial terms ranging from one to 25 years, with 13 different management companies as noted in the table below. This number includes 29 consolidated hotel properties that receive the benefits of a franchise agreement pursuant to management agreements with Hilton, Hyatt, or Marriott.


Management Company						Number of Hotel Properties
Aimbridge Hospitality						35

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
						102

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.

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, 2020, 2019 and 2018, the Company incurred management fee expense of approximately $13.2 million, $45.5 million and $57.3 million, respectively.

Franchise Agreements

As of December 31, 2020, 72 of the Company's consolidated hotel properties were operated under franchise agreements with initial terms ranging from one to 30 years. This number excludes 29 consolidated hotel properties that receive the benefits of a franchise agreement pursuant to management agreements with Hilton, Hyatt, or Marriott. 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 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, 2020, 2019 and 2018, the Company incurred franchise fee expense of approximately $25.6 million, $75.3 million and $80.8 million, respectively.

Wyndham Agreements

Prior to January 1, 2020, the Wyndham management agreements guaranteed minimum levels of annual net operating income at each of the Wyndham-managed hotels. In 2019, the Company entered into an agreement with Wyndham to terminate the net operating income guarantee effective December 31, 2019 and received termination payments totaling $36.0 million from Wyndham, of which $35.0 million was received in 2019 and $1.0 million was received in 2020. These amounts are included in advance deposits and deferred revenue in the accompanying consolidated balance sheets. In addition, in conjunction with the termination of the net operating income guarantee, the Company entered into transitional franchise and management agreements effective January 1, 2020 through December 31, 2020. During the year ended December 31, 2020, the Company exercised its option to extend the agreements through December 31, 2021. The transitional franchise and management fees are 3% and 2%, respectively, of hotel revenues. Effective January 1, 2020, the Company began recognizing the termination payments over the estimated term of the transitional agreements as a reduction to management and franchise fee expense in the consolidated statements of operations and comprehensive income. For the year ended December 31, 2020, the Company recognized approximately $17.8 million as a reduction to management and franchise fee expense related to the amortization of the termination payments.

Other

During the year ended December 31, 2020, the Company incurred approximately $8.7 million in corporate and property-level severance costs as a result of the COVID-19 pandemic. This amount includes $6.7 million for the year ended December 31, 2020 related to severance for associates at the Company's New York City hotels operating under collective bargaining agreements. The severance costs are included in other operating expense in the accompanying consolidated statement of operations and comprehensive income.

Equity	12 Months Ended
Equity	Dec. 31, 2020
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 year ended December 31, 2020, the Company repurchased and retired 5,489,335 common shares for approximately $62.6 million, of which $26.0 million was repurchased under a share repurchase program that expired February 29, 2020 and $36.6 million was repurchased under a share repurchase program that was approved by the Company's board of trustees on February 14, 2020 to acquire up $250.0 million of Common Shares from March 1, 2020 to February 28, 2021 ("2020 Share Repurchase Program"). As of December 31, 2020, the 2020 Share Repurchase Program had a remaining capacity of $213.4 million. In April 2020, the Company suspended further repurchases of its common shares pursuant to the 2020 Share Repurchase Program due to the effects of the COVID-19 pandemic. In addition, the Company is not permitted to repurchase common shares as part of the Revolver and Term Loans amendments discussed in Note 7 above. The 2020 Share Repurchase Program expires pursuant to its terms on February 28, 2021. 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 that expired February 28, 2019, and $67.5 million was repurchased under a share repurchase program that expired February 29, 2020. During the year ended December 31, 2018, the Company repurchased and retired 1,162,557 Common Shares for approximately $21.8 million under a share repurchase program that expired February 28, 2019. During the year ended December 31, 2020, the Company declared a cash dividend of $0.04 per Common Share. During each of the years ended December 31, 2019 and 2018, the Company declared a cash dividend of $1.32 per Common Share. Series A Preferred Share Under the declaration of trust for the Company, there are 50,000,000 preferred shares authorized for issuance. During each of the years ended December 31, 2020, 2019 and 2018, the Company declared a cash dividend of $1.95 per 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. 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, 2020, the Operating Partnership had 165,775,045 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, 2020, the limited partners owned 772,293 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. On February 15, 2019, the Company redeemed the preferred equity in full.

Equity Incentive Plan

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [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:


	2020			2019			2018
	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,	940,202	$	20.21	740,792	$	21.89	700,325	$	22.88
Granted	801,463	11.95		530,436	18.69		592,673	21.42
Vested	(480,444)	19.59		(312,131)	21.63		(438,881)	22.92
Forfeited	(8,993)	18.80		(18,895)	20.03		(113,325)	21.58
Unvested at December 31,	1,252,228	$	15.17	940,202	$	20.21	740,792	$	21.89

For the years ended December 31, 2020, 2019 and 2018, the Company recognized approximately $8.7 million, $8.6 million and $10.2 million, respectively, of share-based compensation expense related to restricted share awards.

As of December 31, 2020, there was $13.7 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 2.4 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, 2020, 2019 and 2018 was approximately $5.2 million, $5.5 million and $9.5 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 0% 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

February 2018	264,000	$13.99	0% to 150%	2.42%	27.44%
February 2019	260,000	$19.16	0% to 200%	2.52%	27.19%
February 2020	489,000	$12.06	0% to 200%	1.08%	23.46%

For the years ended December 31, 2020, 2019 and 2018, the Company recognized approximately $3.5 million, $2.9 million and $2.1 million, respectively, of share-based compensation expense related to the performance unit awards.

As of December 31, 2020, there was $7.1 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, 2020, there were 762,744 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, 2020

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, 2020, 2019 and 2018, since the limited partners’ share of income would also be added back to net income attributable to common shareholders.

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


	For the year ended December 31,
	2020		2019		2018
Numerator:
Net (loss) income attributable to RLJ	$	(404,441)	$	127,842	$	188,643
Less: Preferred dividends	(25,115)		(25,115)		(25,115)
Less: Dividends paid on unvested restricted shares	(55)		(1,342)		(1,181)
Less: Undistributed earnings attributable to unvested restricted shares	—		—		—
Net (loss) income attributable to common shareholders excluding amounts attributable to unvested restricted shares	$	(429,611)	$	101,385	$	162,347

Denominator:
Weighted-average number of Common Shares - basic	164,503,661		171,287,086		174,225,130
Unvested restricted shares	—		101,390		91,275

Weighted-average number of Common Shares - diluted	164,503,661		171,388,476		174,316,405

Net (loss) income per share attributable to common shareholders - basic	$	(2.61)	$	0.59	$	0.93

Net (loss) income per share attributable to common shareholders - diluted	$	(2.61)	$	0.59	$	0.93

Income Taxes

12 Months Ended

Dec. 31, 2020

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.

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. 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.

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


	For the Years Ended December 31,
	2020		2019		2018
Current:
Federal	$	—	$	—	$	—
State	(484)		(3,067)		(2,209)
Deferred:
Federal	(45,438)		3,987		(4,867)
State	(6,048)		2,831		(1,717)
Income tax (expense) benefit	$	(51,970)	$	3,751	$	(8,793)

The provision for income taxes is different from the amount of income tax (expense) benefit 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,
	2020		2019		2018
Expected U.S. federal tax benefit (expense) at statutory rate	$	90,143	$	(26,382)	$	(41,864)
Tax impact of REIT election	(85,140)		24,129		35,058
Expected tax benefit (expense) at TRS	5,003		(2,253)		(6,806)
Change in valuation allowance	(59,321)		(297)		542
State income tax benefit (expense), net of federal benefit	1,174		(2,367)		(1,463)
Reassessment of acquired NOLs	—		9,973		—
Impact of rate changes	349		332		(51)
Other permanent items	(22)		(117)		(566)

Impact of provision to return/deferred adjustments	847		(1,520)		(449)
Income tax (expense) benefit	$	(51,970)	$	3,751	$	(8,793)

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, 2020		December 31, 2019
Deferred tax liabilities:

Partnership basis	$	(2,453)	$	(977)
Prepaid expenses	(1,157)		(1,496)



Deferred tax liabilities	$	(3,610)	$	(2,473)

Deferred tax assets:
Property and equipment	$	2,619	$	1,786
Incentive and vacation accrual	2,339		3,878
Deferred revenue - key money	966		994
Allowance for doubtful accounts	76		65


Other	202		421

Net operating loss carryforwards	71,831		57,109
Federal historic tax credit	824		824
Wyndham guarantee	5,384		10,192
Valuation allowance	(80,670)		(21,349)
Deferred tax assets	$	3,571	$	53,920

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 would record 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. Based upon the available objective evidence at December 31, 2020, the Company determined it was more likely than not that the deferred tax assets related to the net operating loss ("NOL") carryforwards of its primary TRS would not be utilized in future periods. The Company considered all available evidence, both positive and negative, including cumulative losses in recent years and its current forecast of future income in its analysis. As a result, the Company recorded a $59.3 million valuation allowance to fully reserve these deferred tax assets and recorded income tax expense totaling $52.0 million during the year ended December 31, 2020. As of December 31, 2020 and 2019, the Company had a valuation allowance of approximately $80.7 million and $21.3 million, respectively, related to NOL carryforwards, historic tax credits, and other deferred tax assets of its TRSs.

As discussed in Note 10, Commitments and Contingencies, the Company terminated its 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.

The Company’s NOLs will begin to expire in 2024 for federal tax purposes and 2020 to 2040 for state tax purposes. The Company's historic tax credits begin to expire in 2035. The annual utilization of these NOLs and tax credits is limited pursuant to federal and state tax laws.

The Company is subject to examination by U.S. federal and various state and local jurisdictions. The tax years subject to examination vary by jurisdiction. With few exceptions, as of December 31, 2020, the Company is no longer subject to U.S. federal or state and local tax examinations by tax authorities for the tax years of 2015 and before.

The Company had no accruals for tax uncertainties as of December 31, 2020 and 2019.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Segment Information	12 Months Ended
Segment Information	Dec. 31, 2020
Segment Reporting [Abstract]
Segment Information	Segment InformationThe 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.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Subparagraph (a)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Quarterly Operating Results (unaudited)

12 Months Ended

Dec. 31, 2020

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, 2020 and 2019 (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, 2020
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Total revenues	$	265,481	$	32,591	$	83,932	$	91,083
Net loss	$	(30,829)	$	(116,166)	$	(173,919)	$	(87,888)
Net loss attributable to common shareholders	$	(35,603)	$	(121,353)	$	(179,380)	$	(93,220)
Comprehensive loss attributable to RLJ	$	(85,801)	$	(121,656)	$	(167,492)	$	(79,028)
Basic per share data (1):
Net loss attributable to common shareholders	$	(0.21)	$	(0.74)	$	(1.10)	$	(0.57)
Diluted per share data (1):
Net loss attributable to common shareholders	$	(0.21)	$	(0.74)	$	(1.10)	$	(0.57)
Basic weighted-average Common Shares outstanding	167,149,733		163,543,701		163,609,865		163,729,671
Diluted weighted-average Common Shares outstanding	167,149,733		163,543,701		163,609,865		163,729,671

(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, 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

Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2020

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, 2020
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	$	3,946	$	5,353	$	43,466	$	48,819	$	15,836	2006	15 - 40 years
Marriott Louisville Downtown	—		—		89,541		25,110		92		114,559		114,651		36,502		2006	15 - 40 years
Marriott Chicago Midway	—		4,464		32,736		2,771		4,496		35,475		39,971		12,867		2006	15 - 40 years
Renaissance Boulder Flatiron Hotel	—		4,440		32,557		3,245		4,719		35,523		40,242		12,742		2006	15 - 40 years
Renaissance Fort Lauderdale Plantation Hotel	—		4,842		35,517		8,194		4,876		43,677		48,553		13,898		2006	15 - 40 years
Courtyard Chicago Downtown Magnificent Mile	31,000		8,140		59,696		9,430		8,142		69,124		77,266		24,031		2006	15 - 40 years
Courtyard Chicago Southeast Hammond	—		1,038		7,616		2,236		1,080		9,810		10,890		3,477		2006	15 - 40 years
Courtyard Indianapolis @ The Capitol	—		2,482		18,207		4,101		2,635		22,155		24,790		7,236		2006	15 - 40 years
Courtyard Midway Airport	—		2,172		15,927		2,674		2,197		18,576		20,773		7,394		2006	15 - 40 years
Courtyard Houston Sugarland	—		617		2,331		3,447		731		5,664		6,395		3,623		2006	15 - 40 years
Courtyard Austin Downtown Convention Center	—		6,049		44,361		5,163		6,049		49,524		55,573		15,491		2007	15 - 40 years
Residence Inn Indianapolis Fishers	—		998		7,322		1,092		1,048		8,364		9,412		2,952		2006	15 - 40 years
Residence Inn Chicago Southeast Hammond	—		980		7,190		1,322		1,043		8,449		9,492		2,905		2006	15 - 40 years
Residence Inn Houston By The Galleria	—		2,665		19,549		3,065		2,665		22,614		25,279		8,347		2006	15 - 40 years
Residence Inn Indianapolis Downtown On The Canal	—		2,670		19,588		4,612		2,670		24,200		26,870		7,862		2006	15 - 40 years
Residence Inn Merrillville	—		595		4,372		1,321		595		5,693		6,288		2,143		2006	15 - 40 years
Residence Inn Chicago Naperville	—		1,923		14,101		1,103		1,923		15,204		17,127		5,566		2006	15 - 40 years
Residence Inn Louisville Downtown	—		1,815		13,308		3,015		1,815		16,323		18,138		4,963		2007	15 - 40 years
Residence Inn Austin Downtown Convention Center	—		3,767		27,626		4,312		3,804		31,901		35,705		9,555		2007	15 - 40 years
SpringHill Suites Denver North Westminster	—		2,409		17,670		1,720		2,409		19,390		21,799		7,001		2006	15 - 40 years
Fairfield Inn & Suites Denver Cherry Creek	—		1,203		8,823		1,350		1,203		10,173		11,376		3,810		2006	15 - 40 years
Fairfield Inn & Suites Chicago SE Hammond	—		722		5,301		1,548		790		6,781		7,571		2,505		2006	15 - 40 years
Fairfield Inn & Suites Key West	—		1,803		19,325		3,518		1,853		22,793		24,646		8,258		2006	15 - 40 years
Fairfield Inn & Suites Chicago Midway Airport	—		1,425		10,449		2,012		1,447		12,439		13,886		4,489		2006	15 - 40 years
Hampton Inn Chicago Midway Airport	—		2,747		20,143		3,067		2,793		23,164		25,957		8,439		2006	15 - 40 years


		Initial Costs		Costs Capitalized Subsequent to Acquisition	Gross Amount at December 31, 2020
Description	Debt	Land & Improvements	Building & Improvements	Land, Building & Improvements	Land & Improvements	Buildings & Improvements	Total (1)	Accumulated Depreciation	Date Acquired	Depreciation Life
Hilton Garden Inn Chicago Midway Airport	—	2,978	21,842	1,585	3,000	23,405	26,405	8,517	2006	15 - 40 years
Sleep Inn Midway Airport	—	1,189	8,718	1,863	1,211	10,559	11,770	4,100	2006	15 - 40 years
Holiday Inn Express & Suites Midway Airport	—	1,874	13,742	3,154	1,902	16,868	18,770	5,692	2006	15 - 40 years
TGI Friday's Chicago Midway	—	829	6,139	703	851	6,820	7,671	2,444	2006	15 - 40 years
Hampton Inn Garden City	—	5,691	22,764	2,792	5,737	25,510	31,247	8,292	2007	15 - 40 years
Courtyard Houston By The Galleria	19,000	3,069	22,508	2,073	3,069	24,581	27,650	8,059	2007	15 - 40 years
Embassy Suites Los Angeles Downey	31,000	4,857	29,943	11,520	4,970	41,350	46,320	12,346	2008	15 - 40 years
Embassy Suites Tampa Downtown Convention Center	—	2,161	71,017	14,448	2,425	85,201	87,626	21,524	2010	15 - 40 years
Fairfield Inn & Suites Washington DC Downtown	34,000	16,214	22,265	7,706	16,447	29,738	46,185	8,984	2010	15 - 40 years
Embassy Suites Fort Myers Estero	—	2,816	7,862	1,860	2,926	9,612	12,538	3,102	2010	15 - 40 years
Homewood Suites Washington DC Downtown	—	23,139	34,188	5,104	23,150	39,281	62,431	10,484	2010	15 - 40 years
Hotel Indigo New Orleans Garden District	—	1,901	3,865	11,992	2,082	15,676	17,758	7,127	2010	15 - 40 years
Residence Inn National Harbor Washington DC	—	7,457	37,046	2,119	7,480	39,142	46,622	10,166	2010	15 - 40 years
Hilton Garden Inn New Orleans Convention Center	—	3,405	20,750	9,191	3,479	29,867	33,346	8,237	2010	15 - 40 years
Hilton Garden Inn Los Angeles Hollywood	—	5,303	19,136	10,704	5,667	29,476	35,143	8,635	2010	15 - 40 years
DoubleTree Metropolitan Hotel New York City	—	140,332	188,014	24,524	140,513	212,357	352,870	57,057	2010	15 - 40 years
Renaissance Pittsburgh Hotel	34,000	3,274	39,934	11,147	3,396	50,959	54,355	12,700	2011	15 - 40 years
Courtyard Atlanta Buckhead	—	2,860	21,668	3,840	2,875	25,493	28,368	6,863	2011	15 - 40 years
Marriott Denver Airport @ Gateway Park	—	3,083	38,356	4,854	3,179	43,114	46,293	11,722	2011	15 - 40 years
Embassy Suites West Palm Beach Central	—	3,656	9,614	7,884	3,877	17,277	21,154	6,040	2011	15 - 40 years
Hilton Garden Inn Pittsburgh University Place	—	1,975	18,490	9,024	2,382	27,107	29,489	8,937	2011	15 - 40 years
Courtyard Charleston Historic District	—	2,714	35,828	4,499	3,510	39,531	43,041	9,234	2011	15 - 40 years
Residence Inn Bethesda Downtown	—	8,154	52,749	6,895	8,287	59,511	67,798	13,551	2012	15 - 40 years
Courtyard New York Manhattan Upper East Side	—	20,655	60,222	7,860	21,265	67,472	88,737	15,483	2012	15 - 40 years
Hilton Garden Inn San Francisco Oakland Bay Bridge	—	11,903	22,757	14,212	12,187	36,685	48,872	6,472	2012	15 - 40 years
Embassy Suites Boston Waltham	—	6,268	56,024	4,842	6,386	60,748	67,134	13,503	2012	15 - 40 years
Courtyard Houston Downtown Convention Center	—	5,799	28,953	4,558	6,050	33,260	39,310	7,051	2013	15 - 40 years


		Initial Costs		Costs Capitalized Subsequent to Acquisition	Gross Amount at December 31, 2020
Description	Debt	Land & Improvements	Building & Improvements	Land, Building & Improvements	Land & Improvements	Buildings & Improvements	Total (1)	Accumulated Depreciation	Date Acquired	Depreciation Life
Residence Inn Houston Downtown Convention Center	—	4,674	24,913	4,991	4,875	29,703	34,578	6,164	2013	15 - 40 years
SpringHill Suites Houston Downtown Convention Center	—	2,382	12,756	15,951	2,566	28,523	31,089	6,970	2013	15 - 40 years
Courtyard Waikiki Beach	—	557	79,033	13,102	801	91,891	92,692	18,602	2013	15 - 40 years
Courtyard San Francisco	—	11,277	18,198	28,732	11,291	46,916	58,207	10,985	2013	15 - 40 years
Residence Inn Atlanta Midtown Historic	—	2,812	6,044	7,602	2,969	13,489	16,458	3,080	2013	15 - 40 years
SpringHill Suites Portland Hillsboro	—	3,488	18,283	1,481	3,515	19,737	23,252	3,784	2013	15 - 40 years
Hilton Cabana Miami Beach	—	25,083	40,707	6,905	25,212	47,483	72,695	7,963	2014	15 - 40 years
Hyatt House Charlotte Center City	18,000	3,029	26,193	2,013	3,029	28,206	31,235	4,840	2014	15 - 40 years
Hyatt House Cypress Anaheim	16,000	3,995	9,164	3,964	4,354	12,769	17,123	3,161	2014	15 - 40 years
Hyatt House Emeryville San Francisco Bay Area	36,000	7,425	29,137	6,689	7,517	35,734	43,251	7,303	2014	15 - 40 years
Hyatt House San Diego Sorrento Mesa	—	10,420	21,288	1,423	10,625	22,506	33,131	4,366	2014	15 - 40 years
Hyatt House San Jose Silicon Valley	—	6,820	31,682	2,433	6,894	34,041	40,935	5,644	2014	15 - 40 years
Hyatt House San Ramon	—	5,712	11,852	2,834	5,717	14,681	20,398	3,067	2014	15 - 40 years
Hyatt House Santa Clara	34,000	8,044	27,703	3,157	8,046	30,858	38,904	5,700	2014	15 - 40 years
Hyatt Centric The Woodlands	—	5,950	16,882	1,679	5,957	18,554	24,511	3,159	2014	15 - 40 years
Hyatt Place Fremont Silicon Valley	—	6,209	13,730	1,475	6,271	15,143	21,414	3,017	2014	15 - 40 years
Hyatt Place Madison Downtown	13,000	6,701	25,478	1,399	6,701	26,877	33,578	4,438	2014	15 - 40 years
Embassy Suites Irvine Orange County	—	15,062	33,048	8,900	15,187	41,823	57,010	8,130	2014	15 - 40 years
Courtyard Portland City Center	—	8,019	53,024	1,511	8,022	54,532	62,554	9,236	2014	15 - 40 years
Hyatt Atlanta Midtown	—	3,737	41,731	1,164	3,740	42,892	46,632	7,098	2014	15 - 40 years
DoubleTree Grand Key Resort	—	48,192	27,770	8,253	48,266	35,949	84,215	6,758	2014	15 - 40 years
Hyatt Place Washington DC Downtown K Street	—	10,763	55,225	1,987	10,763	57,212	67,975	7,960	2015	15 - 40 years
Homewood Suites Seattle Lynnwood	19,000	3,933	30,949	204	4,001	31,085	35,086	4,440	2015	15 - 40 years
Residence Inn Palo Alto Los Altos	30,332	16,996	45,786	801	17,099	46,484	63,583	6,680	2015	15 - 40 years
DoubleTree Suites by Hilton Austin	—	7,072	50,827	1,049	7,225	51,723	58,948	4,380	2017	15 - 40 years
DoubleTree Suites by Hilton Orlando - Lake Buena Vista	—	896	44,508	981	989	45,396	46,385	4,006	2017	15 - 40 years
Embassy Suites Atlanta - Buckhead	—	31,279	46,015	8,006	31,479	53,821	85,300	4,485	2017	15 - 40 years
Embassy Suites Birmingham	21,130	10,495	33,568	641	10,512	34,192	44,704	3,020	2017	15 - 40 years
Embassy Suites Dallas - Love Field	25,000	6,408	34,694	1,645	6,413	36,334	42,747	3,092	2017	15 - 40 years
Embassy Suites Deerfield Beach - Resort & Spa	27,972	7,527	56,128	3,772	7,815	59,612	67,427	5,133	2017	15 - 40 years
Embassy Suites Fort Lauderdale 17th Street	31,673	30,933	54,592	3,190	31,277	57,438	88,715	5,195	2017	15 - 40 years


			Initial Costs				Costs Capitalized Subsequent to Acquisition		Gross Amount at December 31, 2020
Description	Debt		Land & Improvements		Building & Improvements		Land, Building & Improvements		Land & Improvements		Buildings & Improvements		Total (1)		Accumulated Depreciation		Date Acquired	Depreciation Life
Embassy Suites Los Angeles - International Airport South	50,000		13,110		94,733		1,841		13,168		96,516		109,684		8,183		2017	15 - 40 years
Embassy Suites Mandalay Beach - Hotel & Resort	—		35,769		53,280		5,143		35,865		58,327		94,192		5,030		2017	15 - 40 years
Embassy Suites Miami - International Airport	—		14,765		18,099		3,336		15,057		21,143		36,200		2,158		2017	15 - 40 years
Embassy Suites Milpitas Silicon Valley	—		43,157		26,399		12,887		43,369		39,074		82,443		3,716		2017	15 - 40 years
Embassy Suites Minneapolis - Airport	33,972		7,248		41,202		17,148		9,673		55,925		65,598		5,887		2017	15 - 40 years
Embassy Suites Orlando - International Drive South/Convention Center	—		4,743		37,687		1,402		4,923		38,909		43,832		3,420		2017	15 - 40 years
Embassy Suites Phoenix - Biltmore	21,000		24,680		24,487		2,833		24,783		27,217		52,000		2,500		2017	15 - 40 years
Embassy Suites San Francisco Airport - South San Francisco	—		39,616		55,163		14,167		39,683		69,263		108,946		5,888		2017	15 - 40 years
Embassy Suites San Francisco Airport - Waterfront	—		3,698		85,270		4,076		4,054		88,990		93,044		8,293		2017	15 - 40 years
San Francisco Marriott Union Square	—		46,773		107,841		13,148		46,883		120,879		167,762		10,849		2017	15 - 40 years
The Knickerbocker New York	—		113,613		119,453		1,626		113,622		121,070		234,692		10,113		2017	15 - 40 years
The Mills House Wyndham Grand Hotel	—		9,599		68,932		989		9,601		69,919		79,520		5,878		2017	15 - 40 years
Wyndham Boston Beacon Hill	—		174		51,934		1,552		178		53,482		53,660		15,955		2017	9 years
Wyndham Houston - Medical Center Hotel & Suites	—		7,776		43,475		278		7,806		43,723		51,529		3,723		2017	15 - 40 years
Wyndham New Orleans - French Quarter	—		300		72,711		736		300		73,447		73,747		6,225		2017	15 - 40 years
Wyndham Philadelphia Historic District	—		8,367		51,914		713		8,405		52,589		60,994		4,452		2017	15 - 40 years
Wyndham Pittsburgh University Center	—		154		31,625		365		158		31,986		32,144		2,696		2017	15 - 40 years
Wyndham San Diego Bayside	—		989		29,440		5,154		1,129		34,454		35,583		8,807		2017	10 years
Wyndham Santa Monica At The Pier	—		27,054		45,866		715		27,081		46,554		73,635		3,965		2017	15 - 40 years
	$	526,079	$	1,076,382	$	3,567,557	$	530,370	$	1,089,597	$	4,084,712	$	5,174,309	$	827,808

(1) The aggregate cost of real estate for federal income tax purposes was approximately $5.0 billion at December 31, 2020.

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


	2020		2019		2018
Reconciliation of Land and Buildings and Improvements
Balance at beginning of period	$	5,127,448	$	5,903,906	$	6,165,296
Add: Acquisitions	—		—		—
Add: Improvements	52,936		91,129		109,403
Less: Sale of hotel properties	(6,075)		(854,087)		(370,793)
Less: Impairment loss	—		(13,500)		—

Balance at end of period	$	5,174,309	$	5,127,448	$	5,903,906

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


	2020		2019		2018
Reconciliation of Accumulated Depreciation
Balance at beginning of period	$	(706,040)	$	(759,643)	$	(628,518)
Add: Depreciation for the period	(125,494)		(131,442)		(143,215)
Less: Sale of hotel properties	3,726		185,045		12,090

Balance at end of period	$	(827,808)	$	(706,040)	$	(759,643)

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	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	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	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 Recognition	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	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 projected 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 a projected 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, sales proceeds in the reversion year, 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	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	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 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 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 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 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 7) 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, 2020, 2019 and 2018, approximately $4.4 million, $4.1 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	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	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.
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.
Leases	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.
Noncontrolling Interests	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, 2020 and 2019, 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, 2020 and 2019, 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	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. The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases, and for net operating loss, capital loss and tax credit carryforwards. The deferred tax assets and liabilities are measured using the enacted income tax rates in effect for the year in which those temporary differences are expected to be realized or settled. The effect on the deferred tax assets and liabilities from a change in tax rates is recognized in earnings in the period when the new rate is enacted. However, deferred tax assets are recognized only to the extent that it is more likely than not that they will be realized based on consideration of all available evidence, including the future reversals of existing taxable temporary differences, future projected taxable income and tax planning strategies. Valuation allowances are provided if, based upon the weight of the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company 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	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	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	Recently Issued Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which modifies the measurement approach for credit losses on financial assets measured on an amortized cost basis from an "incurred loss" method to an "expected loss" method. In November 2019, the FASB issued ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments – Credit Losses. The Company adopted this new standard on January 1, 2020. The adoption of this standard 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 Company adopted this new standard on January 1, 2020. The adoption of this standard did not have a material impact on the Company's consolidated financial statements. In March 2020, FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The guidance provides optional expedients for applying GAAP to contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate ("LIBOR") or another reference rate expected to be discontinued at the end of 2021 because of reference rate reform. The guidance is effective immediately and expires on December 31, 2022. Based on the Company's assessment, the adoption of this standard is not expected to have a material impact on the Company's consolidated financial statements.

Investment in Hotel Properties (Tables)

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Schedule of investment in hotel properties

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


	December 31, 2020		December 31, 2019
Land and improvements	$	1,089,597	$	1,088,436
Buildings and improvements	4,084,712		4,039,012
Furniture, fixtures and equipment	697,404		685,699
	5,871,713		5,813,147
Accumulated depreciation	(1,385,297)		(1,198,181)
Investment in hotel properties, net	$	4,486,416	$	4,614,966

Investment in Unconsolidated Joint Ventures (Tables)

12 Months Ended

Dec. 31, 2020

Investment in Unconsolidated Joint Ventures [Abstract]

Schedule of Components of Investment In Unconsolidated Entities

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


	December 31, 2020		December 31, 2019
Equity basis of the joint venture investments	$	(6,687)	$	(4,236)
Cost of the joint venture investments in excess of the joint venture book value	13,485		19,407
Investment in unconsolidated joint ventures	$	6,798	$	15,171

Schedule of Components of Equity In Income (Loss) from Unconsolidated Entities

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,
	2020		2019		2018
Operating (loss) income	$	(913)	$	1,667	$	2,105
Depreciation of cost in excess of book value	(995)		(1,265)		(1,469)
Impairment loss	(6,546)		—		—
Loss on sale	—		(2,075)		—
Equity in (loss) income from unconsolidated joint ventures	$	(8,454)	$	(1,673)	$	636

Revenue (Tables)

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

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


	For the year ended December 31, 2020
	Room Revenue		Food and Beverage Revenue		Other Revenue		Total Revenue
South Florida	$	52,213	$	7,058	$	4,359	$	63,630
Southern California	53,814		4,013		5,590		63,417
Northern California	51,107		4,160		3,204		58,471
Chicago	24,267		4,187		1,193		29,647
New York City	25,292		2,189		1,231		28,712
Houston	19,401		827		1,931		22,159
Washington, DC	17,843		416		1,220		19,479
Denver	12,285		2,948		864		16,097
Charleston	12,661		2,145		1,188		15,994
Pittsburgh	13,815		1,481		631		15,927
Other	115,056		10,960		13,538		139,554
Total	$	397,754	$	40,384	$	34,949	$	473,087


	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

Sale of Hotel Properties (Tables)

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

Properties disposed

The following table discloses the hotel property that was sold during the year ended December 31, 2020:

Hotel Property Name

Location

Sale Date

Rooms

Residence Inn Houston Sugarland

Stafford, TX

December 1, 2020

Total

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

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

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

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

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

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

Residence Inn Austin North Parmer Lane

Austin, TX

August 14, 2019

Residence Inn Denver West Golden

Golden, CO

August 14, 2019

Residence Inn Boulder Louisville

Louisville, CO

August 14, 2019

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

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

Marriott Austin South

Austin, TX

November 22, 2019

211

Residence Inn Austin South

Austin, TX

November 22, 2019

SpringHill Suites Austin South

Austin, TX

November 22, 2019

152

Total

6,024

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

San Francisco, CA

October 15, 2018

585

Total

2,206

Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

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


	December 31, 2020		December 31, 2019
Senior Notes	$	495,759	$	500,484
Revolver	400,000		—
Term Loans, net	1,168,304		1,168,793
Mortgage loans, net	523,668		526,430
Debt, net	$	2,587,731	$	2,195,707

Schedule of 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, 2020		December 31, 2019

Senior unsecured notes (1) (2) (3)	6.00%	June 2025	$	495,759	$	500,484

(1)Requires payments of interest only through maturity.

(2)The senior unsecured notes include $20.9 million and $25.6 million at December 31, 2020 and 2019, respectively, related to acquisition related fair value adjustments on the Senior Notes.

(3)The Company has the option to redeem the senior unsecured notes 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, 2020 (1)	Maturity Date	December 31, 2020		December 31, 2019
Revolver (2)	3.77%	May 2024	$	400,000	$	—
$150 Million Term Loan Maturing 2022	4.03%	January 2022	150,000		150,000
$400 Million Term Loan Maturing 2023	4.73%	January 2023	400,000		400,000
$225 Million Term Loan Maturing 2023	4.73%	January 2023	225,000		225,000
$400 Million Term Loan Maturing 2025	3.92%	May 2025	400,000		400,000
			1,575,000		1,175,000
Deferred financing costs, net (3)			(6,696)		(6,207)
Total Revolver and Term Loans, net			$	1,568,304	$	1,168,793

(1)Interest rate at December 31, 2020 gives effect to interest rate hedges.

Schedule of 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, 2020	Maturity Date		December 31, 2020		December 31, 2019
Mortgage loan (1)	7	1.66%	April 2022	(5)	$	200,000	$	200,000
Mortgage loan (2)	1	5.25%	June 2022		30,332		31,215
Mortgage loan (3)	3	4.95%	October 2022		86,775		89,299
Mortgage loan (4)	1	4.94%	October 2022		27,972		28,785
Mortgage loan (1)	4	1.74%	April 2024	(5)	85,000		85,000
Mortgage loan (1)	3	1.74%	April 2024	(5)	96,000		96,000


	19				526,079		530,299
Deferred financing costs, net					(2,411)		(3,869)
Total mortgage loans, net					$	523,668	$	526,430

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

(2)Includes $0.3 million and $0.5 million at December 31, 2020 and 2019, respectively, related to a fair value adjustment on a mortgage loan.

(3)Includes $0.9 million and $1.4 million at December 31, 2020 and 2019, respectively, related to fair value adjustments on the mortgage loans.

(4)Includes $0.3 million and $0.4 million at December 31, 2020 and 2019, respectively, related to a fair value adjustment on the mortgage loan.

(5)The mortgage loan provides two one year extension options.

Components of interest expense

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


	For the year ended December 31,
	2020		2019		2018
Senior Notes	$	23,767	$	23,793	$	28,428
Revolver and Term Loans	55,413		42,272		43,458
Mortgage loans	16,949		20,754		26,253

Amortization of deferred financing costs	4,416		4,100		3,504
Undesignated interest rate swaps	(376)		376		—
Total interest expense	$	100,169	$	91,295	$	101,643

Future minimum principal payments

As of December 31, 2020, the future minimum principal payments were as follows (in thousands):


2021	$	3,279
2022	490,386
2023	625,000
2024	581,000
2025	874,888

Total (1)	$	2,574,553

(1)Excludes a total of $22.3 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399

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

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
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-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
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-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399

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

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

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

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

+ Details

Derivatives and Hedging (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of interest rate swaps and caps

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, 2020		December 31, 2019		December 31, 2020		December 31, 2019











Swap-cash flow	1.15%	April 2021	$	100,000	$	100,000	$	(398)	$	607
Swap-cash flow	1.20%	April 2021	100,000		100,000		(418)		538
Swap-cash flow	2.15%	April 2021	75,000		75,000		(594)		(590)
Swap-cash flow	1.91%	April 2021	75,000		75,000		(523)		(337)
Swap-cash flow	1.61%	June 2021	50,000		50,000		(433)		(32)
Swap-cash flow	1.56%	June 2021	50,000		50,000		(416)		13
Swap-cash flow	1.71%	June 2021	50,000		50,000		(462)		(109)
Swap-cash flow	2.29%	December 2022	200,000		200,000		(9,044)		(4,587)
Swap-cash flow	2.29%	December 2022	125,000		125,000		(5,648)		(2,859)
Swap-cash flow	2.38%	December 2022	200,000		200,000		(9,436)		(5,155)
Swap-cash flow	2.38%	December 2022	100,000		100,000		(4,716)		(2,574)
Swap-cash flow	2.75%	November 2023	100,000		100,000		(7,635)		(3,590)
Swap-cash flow (1)	2.51%	December 2023	75,000		75,000		(5,284)		(2,120)
Swap-cash flow (1)	2.39%	December 2023	75,000		75,000		(5,012)		(1,858)
Swap-cash flow	1.35%	September 2021	49,000		49,000		(454)		181
Swap-cash flow	1.28%	September 2022	100,000		100,000		(2,035)		690
Swap-cash flow (2)	1.24%	September 2025	150,000		150,000		(5,508)		2,268
Swap-cash flow (3)	1.16%	April 2024	50,000		—		(1,464)		—
Swap-cash flow (3)	1.20%	April 2024	50,000		—		(1,526)		—
Swap-cash flow (3)	1.15%	April 2024	50,000		—		(1,450)		—
Swap-cash flow (3)	1.10%	April 2024	50,000		—		(1,374)		—
Swap-cash flow (3)	0.98%	April 2024	25,000		—		(596)		—
Swap-cash flow (3)	0.95%	April 2024	25,000		—		(573)		—
Swap-cash flow (3)	0.93%	April 2024	25,000		—		(558)		—
Swap-cash flow (3)	0.90%	April 2024	25,000		—		(535)		—
Swap-cash flow	0.85%	December 2024	50,000		—		(1,249)		—
Swap-cash flow	0.75%	December 2024	50,000		—		(1,047)		—
Swap-cash flow (4)	0.65%	January 2026	50,000		—		(662)		—
			$	2,124,000	$	1,674,000	$	(69,050)	$	(19,514)

(1)Effective in January 2021.

(2)Effective in September 2021.

(3)Effective in April 2021.

(4)Effective in July 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, 2020		December 31, 2019		December 31, 2020		December 31, 2019
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)

Fair Value (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

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


	December 31, 2020				December 31, 2019
	Carrying Value		Fair Value		Carrying Value		Fair Value
Senior Notes	$	495,759	$	484,229	$	500,484	$	497,835
Revolver and Term Loans, net	1,568,304		1,543,636		1,168,793		1,176,068
Mortgage loans, net	523,668		512,118		526,430		532,249
Debt, net	$	2,587,731	$	2,539,983	$	2,195,707	$	2,206,152

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, 2020 (in thousands):


	Fair Value at December 31, 2020
	Level 1		Level 2		Level 3		Total

Interest rate swap liability	$	—	$	(69,050)	$	—	$	(69,050)
Total	$	—	$	(69,050)	$	—	$	(69,050)

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)

Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis

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

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Operating Lease, Lease 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	2020		2019		2018 (1)

Wyndham Boston Beacon Hill	2028	—	$	0.4	$	0.9	$	0.9
Wyndham San Diego Bayside	2029	—	4.1		4.8		4.8
DoubleTree Suites by Hilton Orlando Lake Buena Vista	2032	2057	0.3		0.9		0.8
Residence Inn Palo Alto Los Altos	2033	—	0.1		0.1		0.1
Wyndham Pittsburgh University Center	2038	2083	0.7		0.7		0.8


Marriott Louisville Downtown	2053	2153 (2)	—		—		—
Embassy Suites San Francisco Airport Waterfront	2059	—	1.2		2.4		2.3
Wyndham New Orleans French Quarter	2065	—	0.5		0.5		0.5

Courtyard Charleston Historic District	2096	—	1.0		1.0		1.0
Courtyard Austin Downtown Convention Center and Residence Inn Downtown Convention Center	2100	—	0.4		0.8		0.9

Courtyard Waikiki Beach	2112	—	3.7		3.6		3.5

			$	12.4	$	15.7	$	15.6

(1) Excludes $6.6 million of ground lease expense related to hotel properties sold during the year ended December 31, 2018.

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

Schedule of future minimum ground lease payments

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


	December 31, 2020
2021	$	11,201
2022	11,309
2023	11,405
2024	11,465
2025	11,516
Thereafter	534,621
Total future lease payments	591,517
Imputed interest	(468,924)
Lease liabilities	$	122,593

Assets And Liabilities, Lessee

The following table presents certain information related to the Company's operating leases as of December 31, 2020:


Weighted average remaining lease term	62 years
Weighted average discount rate	7.03	%

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


Management Company						Number of Hotel Properties
Aimbridge Hospitality						35

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
						102

Equity Incentive Plan (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Summary of the unvested restricted shares

A summary of the unvested restricted shares is as follows:


	2020			2019			2018
	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,	940,202	$	20.21	740,792	$	21.89	700,325	$	22.88
Granted	801,463	11.95		530,436	18.69		592,673	21.42
Vested	(480,444)	19.59		(312,131)	21.63		(438,881)	22.92
Forfeited	(8,993)	18.80		(18,895)	20.03		(113,325)	21.58
Unvested at December 31,	1,252,228	$	15.17	940,202	$	20.21	740,792	$	21.89

Share-based Compensation Arrangements by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest

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

February 2018	264,000	$13.99	0% to 150%	2.42%	27.44%
February 2019	260,000	$19.16	0% to 200%	2.52%	27.19%
February 2020	489,000	$12.06	0% to 200%	1.08%	23.46%

Earnings per Common Share (Tables)

12 Months Ended

Dec. 31, 2020

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,
	2020		2019		2018
Numerator:
Net (loss) income attributable to RLJ	$	(404,441)	$	127,842	$	188,643
Less: Preferred dividends	(25,115)		(25,115)		(25,115)
Less: Dividends paid on unvested restricted shares	(55)		(1,342)		(1,181)
Less: Undistributed earnings attributable to unvested restricted shares	—		—		—
Net (loss) income attributable to common shareholders excluding amounts attributable to unvested restricted shares	$	(429,611)	$	101,385	$	162,347

Denominator:
Weighted-average number of Common Shares - basic	164,503,661		171,287,086		174,225,130
Unvested restricted shares	—		101,390		91,275

Weighted-average number of Common Shares - diluted	164,503,661		171,388,476		174,316,405

Net (loss) income per share attributable to common shareholders - basic	$	(2.61)	$	0.59	$	0.93

Net (loss) income per share attributable to common shareholders - diluted	$	(2.61)	$	0.59	$	0.93

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

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,
	2020		2019		2018
Current:
Federal	$	—	$	—	$	—
State	(484)		(3,067)		(2,209)
Deferred:
Federal	(45,438)		3,987		(4,867)
State	(6,048)		2,831		(1,717)
Income tax (expense) benefit	$	(51,970)	$	3,751	$	(8,793)

Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible


	For the Years Ended December 31,
	2020		2019		2018
Expected U.S. federal tax benefit (expense) at statutory rate	$	90,143	$	(26,382)	$	(41,864)
Tax impact of REIT election	(85,140)		24,129		35,058
Expected tax benefit (expense) at TRS	5,003		(2,253)		(6,806)
Change in valuation allowance	(59,321)		(297)		542
State income tax benefit (expense), net of federal benefit	1,174		(2,367)		(1,463)
Reassessment of acquired NOLs	—		9,973		—
Impact of rate changes	349		332		(51)
Other permanent items	(22)		(117)		(566)

Impact of provision to return/deferred adjustments	847		(1,520)		(449)
Income tax (expense) benefit	$	(51,970)	$	3,751	$	(8,793)

Schedule of deferred tax assets (liabilities)


	December 31, 2020		December 31, 2019
Deferred tax liabilities:

Partnership basis	$	(2,453)	$	(977)
Prepaid expenses	(1,157)		(1,496)



Deferred tax liabilities	$	(3,610)	$	(2,473)

Deferred tax assets:
Property and equipment	$	2,619	$	1,786
Incentive and vacation accrual	2,339		3,878
Deferred revenue - key money	966		994
Allowance for doubtful accounts	76		65


Other	202		421

Net operating loss carryforwards	71,831		57,109
Federal historic tax credit	824		824
Wyndham guarantee	5,384		10,192
Valuation allowance	(80,670)		(21,349)
Deferred tax assets	$	3,571	$	53,920

Supplemental Information to Statements of Cash Flows (Tables)

12 Months Ended

Dec. 31, 2020

Supplemental Cash Flow Elements [Abstract]

Schedule of supplemental information to statements of cash flows


	For the year ended December 31,
	2020		2019		2018
Reconciliation of cash, cash equivalents, and restricted cash reserves
Cash and cash equivalents	$	899,813	$	882,474	$	320,147
Restricted cash reserves	34,977		44,686		64,695
Cash, cash equivalents, and restricted cash reserves	$	934,790	$	927,160	$	384,842

Interest paid	$	98,511	$	97,259	$	114,280

Income taxes paid	$	1,501	$	4,090	$	1,836

Operating cash flow lease payments for operating leases	$	11,813	$	15,270

Right-of-use asset obtained in exchange for lease obligation due to remeasurement	$	4,100	$	—

Supplemental investing and financing transactions










In conjunction with the sale of hotel properties, the Company recorded the following:
Sale of hotel properties	$	4,883	$	705,681	$	530,850
Escrow related to certain post-closing obligations	—		—		1,000
Purchase option for land subject to a ground lease	—		—		(44,831)
Transaction costs	(133)		(10,482)		(10,668)
Operating prorations	(98)		(9,329)		(1,288)
Receipt of forfeited deposit	517		—		—
Proceeds from the sale of hotel properties, net	$	5,169	$	685,870	$	475,063

Supplemental non-cash transactions
Change in fair market value of designated interest rate swaps	$	(49,536)	$	(33,459)	$	7,349
Accrued capital expenditures	$	7,313	$	14,234	$	15,709
Distributions payable	$	8,752	$	64,165	$	65,557

Quarterly Operating Results (unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Schedule of quarterly financial information


	For the year ended December 31, 2020
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Total revenues	$	265,481	$	32,591	$	83,932	$	91,083
Net loss	$	(30,829)	$	(116,166)	$	(173,919)	$	(87,888)
Net loss attributable to common shareholders	$	(35,603)	$	(121,353)	$	(179,380)	$	(93,220)
Comprehensive loss attributable to RLJ	$	(85,801)	$	(121,656)	$	(167,492)	$	(79,028)
Basic per share data (1):
Net loss attributable to common shareholders	$	(0.21)	$	(0.74)	$	(1.10)	$	(0.57)
Diluted per share data (1):
Net loss attributable to common shareholders	$	(0.21)	$	(0.74)	$	(1.10)	$	(0.57)
Basic weighted-average Common Shares outstanding	167,149,733		163,543,701		163,609,865		163,729,671
Diluted weighted-average Common Shares outstanding	167,149,733		163,543,701		163,609,865		163,729,671


	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

General (Details)	3 Months Ended				12 Months Ended
General (Details)	Dec. 31, 2020 USD ($) $ / shares	Sep. 30, 2020 $ / shares	Jun. 30, 2020 property $ / shares	Mar. 31, 2020 $ / shares	Dec. 31, 2020 USD ($) $ / shares	Dec. 31, 2019 USD ($) Hotels $ / shares	Dec. 31, 2018 USD ($) $ / shares	Dec. 31, 2020 shares	Dec. 31, 2020	Dec. 31, 2020 property	Dec. 31, 2020 room	Dec. 31, 2020 state	Dec. 31, 2020 Hotels	Dec. 31, 2020 hotel	Dec. 31, 2017 USD ($)
Sale of Stock
Number of OP units outstanding (in shares) \| shares								165,775,045
Company's ownership interest in the Operating Partnership					99.50%
Number of real estate properties									29	103
Common stock, dividends, per share \| $ / shares	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.04	$ 1.32	$ 1.32
Cash, cash equivalents, and restricted cash reserves \| $	$ 934,790,000				$ 934,790,000	$ 927,160,000	$ 384,842,000								$ 659,076,000
Number of hotel rooms owned \| room											22,700
Number of states in which hotels owned by the entity are located \| state												23
The Revolver \| The Revolver
Sale of Stock
Maximum borrowing capacity \| $	600,000,000.0				600,000,000.0
Fair value of amount outstanding \| $	$ 400,000,000.0				$ 400,000,000.0
Partially Owned Properties \| Doubletree Metropolitan Hotel New York City
Sale of Stock
Real estate properties, ownership interest, percentage					98.30%
Partially Owned Properties \| 50 Percent Owned
Sale of Stock
Number of real estate properties			2
Real estate properties, ownership interest, percentage					50.00%	50.00%
Partially Owned Properties \| 95 Percent Owned \| The Knickerbocker New York
Sale of Stock
Real estate properties, ownership interest, percentage					95.00%
Unconsolidated Properties
Sale of Stock
Number of real estate properties										2
Real estate properties, ownership interest, percentage					50.00%
Operations Suspended
Sale of Stock
Number of real estate properties \| Hotels						57							5
Operations Resumed
Sale of Stock
Number of real estate properties													50	2
Wholly Owned Properties
Sale of Stock
Number of real estate properties										99
Real estate properties, ownership interest, percentage					100.00%
Consolidated Properties
Sale of Stock
Number of real estate properties										101
Leased Hotel Properties
Sale of Stock
Number of real estate properties										102

Summary of Significant Accounting Policies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Summary of Significant Accounting Policies
Number of joint ventures	2
Equity method investment, ownership percentage	50.00%
Amortization of deferred financing costs	$ 4,416	$ 4,100	$ 3,504
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
DBT Met Hotel Venture, LP
Summary of Significant Accounting Policies
Noncontrolling ownership interest of third party	1.70%
The Knickerbocker New York
Summary of Significant Accounting Policies
Noncontrolling ownership interest of third party	5.00%
Embassy Suites Secaucus
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

Investment in Hotel Properties - Investment in Hotel Properties (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Land and improvements	$ 1,089,597	$ 1,088,436
Buildings and improvements	4,084,712	4,039,012
Furniture, fixtures and equipment	697,404	685,699
Total	5,871,713	5,813,147
Accumulated depreciation	(1,385,297)	(1,198,181)
Investment in hotel properties, net	$ 4,486,416	$ 4,614,966

Investment in Hotel Properties - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense related to investment in hotel properties	$ 193,300	$ 209,600	$ 233,800
Impairment loss	$ 0	$ 13,500	$ 0

Investment in Unconsolidated Joint Ventures (Details)	12 Months Ended
Investment in Unconsolidated Joint Ventures (Details)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2020	Dec. 31, 2020 property	Jun. 30, 2020 property
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage				50.00%
Number of real estate properties				29	103
Gain (loss) on sale of hotel properties, net	$ 2,703,000	$ (9,300,000)	$ 30,941,000
Equity Method Investments	6,798,000	15,171,000
Equity in loss (income) from unconsolidated joint ventures	$ 8,454,000	1,673,000	(636,000)
Unconsolidated Properties
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage				50.00%
Number of real estate properties \| property					2
Real estate properties, ownership interest, percentage	50.00%
Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	$ (6,687,000)	(4,236,000)
Equity in loss (income) from unconsolidated joint ventures	913,000	(1,667,000)	(2,105,000)
Cost of the joint venture investments in excess of the joint venture book value
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	13,485,000	19,407,000
Equity in loss (income) from unconsolidated joint ventures	995,000	1,265,000	1,469,000
Impairment loss
Schedule of Equity Method Investments [Line Items]
Equity in loss (income) from unconsolidated joint ventures	(6,546,000)
Loss on sale
Schedule of Equity Method Investments [Line Items]
Equity in loss (income) from unconsolidated joint ventures	$ 0	$ 2,075,000	$ 0
50 Percent Owned \| Partially Owned Properties
Schedule of Equity Method Investments [Line Items]
Number of real estate properties \| property						2
Real estate properties, ownership interest, percentage	50.00%	50.00%
Gain (loss) on sale of hotel properties, net	$ (2,100,000)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Revenue (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Total revenues	$ 91,083	$ 83,932	$ 32,591	$ 265,481	$ 347,074	$ 371,124	$ 448,727	$ 399,267	$ 473,087	$ 1,566,192	$ 1,761,224
South Florida
Disaggregation of Revenue [Line Items]
Total revenues									63,630	145,084	161,346
Southern California
Disaggregation of Revenue [Line Items]
Total revenues									63,417	152,295	155,142
Northern California
Disaggregation of Revenue [Line Items]
Total revenues									58,471	227,294	261,838
New York City
Disaggregation of Revenue [Line Items]
Total revenues									28,712	151,871	154,558
Austin
Disaggregation of Revenue [Line Items]
Total revenues									15,994	89,663	97,227
Chicago
Disaggregation of Revenue [Line Items]
Total revenues									29,647	85,710	88,632
Denver
Disaggregation of Revenue [Line Items]
Total revenues									16,097	68,638	83,490
Houston
Disaggregation of Revenue [Line Items]
Total revenues									22,159	64,073	69,937
Washington, DC
Disaggregation of Revenue [Line Items]
Total revenues									19,479	63,303	70,960
Pittsburgh
Disaggregation of Revenue [Line Items]
Total revenues									15,927
Louisville
Disaggregation of Revenue [Line Items]
Total revenues										61,246
Tampa
Disaggregation of Revenue [Line Items]
Total revenues											64,573
Other
Disaggregation of Revenue [Line Items]
Total revenues									139,554	457,015	553,521
Room revenue
Disaggregation of Revenue [Line Items]
Revenue									397,754	1,317,085	1,473,047
Room revenue \| South Florida
Disaggregation of Revenue [Line Items]
Revenue									52,213	117,252	133,527
Room revenue \| Southern California
Disaggregation of Revenue [Line Items]
Revenue									53,814	126,959	129,634
Room revenue \| Northern California
Disaggregation of Revenue [Line Items]
Revenue									51,107	201,667	233,394
Room revenue \| New York City
Disaggregation of Revenue [Line Items]
Revenue									25,292	130,702	133,728
Room revenue \| Austin
Disaggregation of Revenue [Line Items]
Revenue									12,661	76,438	84,183
Room revenue \| Chicago
Disaggregation of Revenue [Line Items]
Revenue									24,267	70,469	73,497
Room revenue \| Denver
Disaggregation of Revenue [Line Items]
Revenue									12,285	55,063	69,603
Room revenue \| Houston
Disaggregation of Revenue [Line Items]
Revenue									19,401	55,955	61,811
Room revenue \| Washington, DC
Disaggregation of Revenue [Line Items]
Revenue									17,843	59,257	66,130
Room revenue \| Pittsburgh
Disaggregation of Revenue [Line Items]
Revenue									13,815
Room revenue \| Louisville
Disaggregation of Revenue [Line Items]
Revenue										40,627
Room revenue \| Tampa
Disaggregation of Revenue [Line Items]
Revenue											38,169
Room revenue \| Other
Disaggregation of Revenue [Line Items]
Revenue									115,056	382,696	449,371
Food and beverage revenue
Disaggregation of Revenue [Line Items]
Revenue									40,384	177,499	205,518
Food and beverage revenue \| South Florida
Disaggregation of Revenue [Line Items]
Revenue									7,058	19,720	20,547
Food and beverage revenue \| Southern California
Disaggregation of Revenue [Line Items]
Revenue									4,013	15,306	16,662
Food and beverage revenue \| Northern California
Disaggregation of Revenue [Line Items]
Revenue									4,160	19,752	20,872
Food and beverage revenue \| New York City
Disaggregation of Revenue [Line Items]
Revenue									2,189	16,410	16,633
Food and beverage revenue \| Austin
Disaggregation of Revenue [Line Items]
Revenue									2,145	9,453	9,382
Food and beverage revenue \| Chicago
Disaggregation of Revenue [Line Items]
Revenue									4,187	13,102	13,106
Food and beverage revenue \| Denver
Disaggregation of Revenue [Line Items]
Revenue									2,948	12,224	12,596
Food and beverage revenue \| Houston
Disaggregation of Revenue [Line Items]
Revenue									827	3,763	3,789
Food and beverage revenue \| Washington, DC
Disaggregation of Revenue [Line Items]
Revenue									416	1,703	2,460
Food and beverage revenue \| Pittsburgh
Disaggregation of Revenue [Line Items]
Revenue									1,481
Food and beverage revenue \| Louisville
Disaggregation of Revenue [Line Items]
Revenue										18,246
Food and beverage revenue \| Tampa
Disaggregation of Revenue [Line Items]
Revenue											17,296
Food and beverage revenue \| Other
Disaggregation of Revenue [Line Items]
Revenue									10,960	47,820	72,175
Other revenue
Disaggregation of Revenue [Line Items]
Revenue									34,949	71,608	82,659
Other revenue \| South Florida
Disaggregation of Revenue [Line Items]
Revenue									4,359	8,112	7,272
Other revenue \| Southern California
Disaggregation of Revenue [Line Items]
Revenue									5,590	10,030	8,846
Other revenue \| Northern California
Disaggregation of Revenue [Line Items]
Revenue									3,204	5,875	7,572
Other revenue \| New York City
Disaggregation of Revenue [Line Items]
Revenue									1,231	4,759	4,197
Other revenue \| Austin
Disaggregation of Revenue [Line Items]
Revenue									1,188	3,772	3,662
Other revenue \| Chicago
Disaggregation of Revenue [Line Items]
Revenue									1,193	2,139	2,029
Other revenue \| Denver
Disaggregation of Revenue [Line Items]
Revenue									864	1,351	1,291
Other revenue \| Houston
Disaggregation of Revenue [Line Items]
Revenue									1,931	4,355	4,337
Other revenue \| Washington, DC
Disaggregation of Revenue [Line Items]
Revenue									1,220	2,343	2,370
Other revenue \| Pittsburgh
Disaggregation of Revenue [Line Items]
Revenue									631
Other revenue \| Louisville
Disaggregation of Revenue [Line Items]
Revenue										2,373
Other revenue \| Tampa
Disaggregation of Revenue [Line Items]
Revenue											9,108
Other revenue \| Other
Disaggregation of Revenue [Line Items]
Revenue									$ 13,538	$ 26,499	$ 31,975

Sale of Hotel Properties - Properties Disposed (Details)	12 Months Ended
	Dec. 31, 2020 USD ($) room	Dec. 31, 2019 USD ($) room hotel increment	Dec. 31, 2018 USD ($) room
Sale of Hotel Properties
Gain (loss) on sale of hotel properties, net \| $	$ 2,703,000	$ (9,300,000)	$ 30,941,000
Proceeds from the sale of hotel properties, net \| $	5,169,000	685,870,000	475,063,000
Sale of hotel properties \| $	$ 4,883,000	$ 705,681,000	$ 530,850,000
Residence Inn Houston Sugarland [Member]
Sale of Hotel Properties
Rooms	78
Disposals 2020 [Domain]
Sale of Hotel Properties
Rooms	78
Proceeds from the sale of hotel properties, net \| $	$ 4,900,000
Courtyard Boulder Longmont
Sale of Hotel Properties
Rooms		78
Courtyard Salt Lake City Airport
Sale of Hotel Properties
Rooms		154
Courtyard Fort Lauderdale SW Miramar
Sale of Hotel Properties
Rooms		128
Courtyard Austin Airport
Sale of Hotel Properties
Rooms		150
Fairfield Inn & Suites San Antonio Downtown Market
Sale of Hotel Properties
Rooms		110
Hampton Inn & Suites Clearwater St. Petersburg
Sale of Hotel Properties
Rooms		128
Hampton Inn Fort Walton Beach
Sale of Hotel Properties
Rooms		100
Hampton Inn & Suites Denver Tech Center
Sale of Hotel Properties
Rooms		123
Hampton Inn West Palm Beach Airport Central
Sale of Hotel Properties
Rooms		105
Hilton Garden Inn Bloomington
Sale of Hotel Properties
Rooms		168
Hilton Garden Inn West Palm Beach Airport
Sale of Hotel Properties
Rooms		100
Hilton Garden Inn Durham Raleigh Research Triangle Park
Sale of Hotel Properties
Rooms		177
Residence Inn Longmont Boulder
Sale of Hotel Properties
Rooms		84
Residence Inn Detroit Novi
Sale of Hotel Properties
Rooms		107
Residence Inn Chicago Oak Brook
Sale of Hotel Properties
Rooms		156
Residence Inn Fort Lauderdale Plantation
Sale of Hotel Properties
Rooms		138
Residence Inn Salt Lake City Airport
Sale of Hotel Properties
Rooms		104
Residence Inn San Antonio Downtown Market Square
Sale of Hotel Properties
Rooms		95
Residence Inn Fort Lauderdale SW Miramar
Sale of Hotel Properties
Rooms		130
Residence Inn Silver Spring
Sale of Hotel Properties
Rooms		130
SpringHill Suites Boulder Longmont
Sale of Hotel Properties
Rooms		90
Embassy Suites Myrtle Beach Oceanfront Resort
Sale of Hotel Properties
Rooms		255
Hilton Myrtle Beach Resort
Sale of Hotel Properties
Rooms		385
Courtyard Austin Northwest Arboretum
Sale of Hotel Properties
Rooms		102
Courtyard Denver West Golden
Sale of Hotel Properties
Rooms		110
Courtyard Boulder Louisville
Sale of Hotel Properties
Rooms		154
Courtyard Louisville Northeast
Sale of Hotel Properties
Rooms		114
Courtyard South Bend Mishawaka
Sale of Hotel Properties
Rooms		78
Hampton Inn Houston Galleria
Sale of Hotel Properties
Rooms		176
Hyatt House Houston Galleria
Sale of Hotel Properties
Rooms		147
Hyatt House Austin Arboretum
Sale of Hotel Properties
Rooms		131
Hyatt House Dallas Lincoln Park
Sale of Hotel Properties
Rooms		155
Hyatt House Dallas Uptown
Sale of Hotel Properties
Rooms		141
Residence Inn Austin Northwest Arboretum
Sale of Hotel Properties
Rooms		84
Residence Inn Austin North Parmer Lane
Sale of Hotel Properties
Rooms		88
Residence Inn Denver West Golden
Sale of Hotel Properties
Rooms		88
Residence Inn Boulder Louisville
Sale of Hotel Properties
Rooms		88
Residence Inn Louisville Northeast
Sale of Hotel Properties
Rooms		102
SpringHill Suites Austin North Parmer Lane
Sale of Hotel Properties
Rooms		132
SpringHill Suites Louisville Hurstbourne North
Sale of Hotel Properties
Rooms		142
SpringHill Suites South Bend Mishawaka
Sale of Hotel Properties
Rooms		87
Residence Inn Columbia
Sale of Hotel Properties
Rooms		108
Courtyard Austin South
Sale of Hotel Properties
Rooms		110
Fairfield Inn & Suites Austin South Airport
Sale of Hotel Properties
Rooms		63
Marriott Austin South
Sale of Hotel Properties
Rooms		211
Residence Inn Austin South
Sale of Hotel Properties
Rooms		66
SpringHill Suites Austin South
Sale of Hotel Properties
Rooms		152
Disposals 2019
Sale of Hotel Properties
Number of properties disposed \| hotel		47
Rooms		6,024
Disposal group, number of transactions \| increment		5
Proceeds from the sale of hotel properties, net \| $		$ 721,000,000.0
Embassy Suites Boston Marlborough
Sale of Hotel Properties
Rooms			229
Sheraton Philadelphia Society Hill Hotel
Sale of Hotel Properties
Rooms			364
Embassy Suites Napa Valley
Sale of Hotel Properties
Rooms			205
DoubleTree Hotel Columbia
Sale of Hotel Properties
Rooms			152
The Vinoy Renaissance St. Petersburg Resort & Golf Club
Sale of Hotel Properties
Rooms			362
DoubleTree by Hilton Burlington Vermont
Sale of Hotel Properties
Rooms			309
Holiday Inn San Francisco - Fisherman's Wharf
Sale of Hotel Properties
Rooms			585
Disposals 2018
Sale of Hotel Properties
Number of properties disposed \| $			7
Rooms		2,206
Sale of hotel properties \| $			$ 530,900,000

Debt - Credit Facilities (Details) - USD ($)	3 Months Ended		6 Months Ended		9 Months Ended		12 Months Ended
Debt - Credit Facilities (Details) - USD ($)	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Additional maturity term							$ 750,000,000.0	$ 750,000,000.0
Debt Instrument, Fair Value Adjustment, Net							22,300,000
Early Repayment of Senior Secured Notes							0	112,000	$ 539,026,000
(Loss) gain on extinguishment of indebtedness, net							0	(214,000)	5,996,000
Unamortized debt issuance costs on term loans							(6,696,000)	(6,207,000)
Unsecured Debt, Gross							1,575,000,000	1,175,000,000
Debt, net							2,587,731,000	2,195,707,000
Accrued capital expenditures							$ 7,313,000	14,234,000	$ 15,709,000
Revolver and Term Loans, net \| Minimum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate							1.35%
Revolver and Term Loans, net \| Maximum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate							2.50%
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage							103.00%
Revolver and Term Loans, net
Debt Instrument [Line Items]
Unsecured Debt							$ 1,568,304,000	1,168,793,000
Revolver and Term Loans, net
Debt Instrument [Line Items]
Debt Covenant, Minimum Liquidity Level							$ 125,000,000.0
Revolver and Term Loans, net \| Forecast
Debt Instrument [Line Items]
Debt Covenant, Maximum Leverage Ratio	700.00%	750.00%	800.00%	850.00%
Debt Covenant, Debt Service Coverage Ratio					165.00%
Revolver and Term Loans, net \| Minimum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate							0.25%
Revolver and Term Loans, net \| Maximum
Debt Instrument [Line Items]
Common Stock, Dividends, Per Share, Cash Paid							$ 0.01
Accrued capital expenditures							$ 175,000,000.0
Payments to Acquire Businesses, Gross							$ 200,000,000.0
Revolver and Term Loans, net \| The Revolver \| Base Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate							2.50%
Revolver and Term Loans, net \| The Revolver \| Base Rate Plus Margin [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate							1.50%
Revolver and Term Loans, net \| Swingline Loans \| Base Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate							2.40%
Revolver and Term Loans, net \| Swingline Loans \| Base Rate Plus Margin [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate							1.40%
Revolver and Term Loans, net \| $400 Million Term Loan Maturing 2019
Debt Instrument [Line Items]
Maximum borrowing capacity							$ 400,000,000.0
Interest Rate							4.73%
Unsecured Debt							$ 400,000,000	400,000,000
Revolver and Term Loans, net \| $225 Million Term Loan Maturing 2019
Debt Instrument [Line Items]
Maximum borrowing capacity							$ 225,000,000.0
Interest Rate							4.73%
Unsecured Debt							$ 225,000,000	225,000,000
Revolver and Term Loans, net \| $150 Million Term Loan Maturing 2022
Debt Instrument [Line Items]
Maximum borrowing capacity							$ 150,000,000.0
Interest Rate							4.03%
Unsecured Debt							$ 150,000,000	150,000,000
Revolver and Term Loans, net \| Six Point Zero Zero Percent Due June 2025 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage							6.00%
Revolver and Term Loans, net \| $400 Million Term Loan Maturing 2025 [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity							$ 400,000,000.0
Interest Rate							3.92%
Unsecured Debt							$ 400,000,000	400,000,000
The Revolver \| Conventional Mortgage Loan [Member]
Debt Instrument [Line Items]
Unsecured Debt							1,168,304,000	$ 1,168,793,000
The Revolver \| The Revolver
Debt Instrument [Line Items]
Maximum borrowing capacity							$ 600,000,000.0
Debt Instrument, Additional Maturity Term						1 year		1 year
Interest Rate							3.77%
Line of Credit Facility, Remaining Borrowing Capacity							$ 600,000,000.0	$ 600,000,000.0
Unsecured Debt							$ 400,000,000	0
The Revolver \| The Revolver \| Minimum
Debt Instrument [Line Items]
Unused facility fee percentage							0.20%
The Revolver \| The Revolver \| Maximum
Debt Instrument [Line Items]
Unused facility fee percentage							0.25%
Prepaid Expenses and Other Current Assets
Debt Instrument [Line Items]
Unamortized deferred financing costs on the Revolver							$ 4,100,000	3,400,000
Senior Unsecured Notes [Member] \| Revolver and Term Loans, net
Debt Instrument [Line Items]
Debt Instrument, Fair Value Adjustment, Net							$ 20,900,000	$ 25,600,000

Debt - Mortgage Loans (Details)	1 Months Ended
Debt - Mortgage Loans (Details)	Apr. 30, 2019	Dec. 31, 2020 USD ($)	Dec. 31, 2020	Dec. 31, 2020 property	Dec. 31, 2020 asset	Dec. 31, 2019 USD ($)
Debt Instrument [Line Items]
Secured Debt, Gross		$ 526,079,000				$ 530,299,000
Unamortized debt issuance costs on mortgage loans		(2,411,000)				(3,869,000)
Number of real estate properties			29	103
Fair value adjustment		22,300,000
Mortgage loans
Debt Instrument [Line Items]
Number of Assets Encumbered \| asset					19
Mortgage loans \| Wells Fargo 3
Debt Instrument [Line Items]
Fair value adjustment		300,000				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			1.66%
Secured Debt		200,000,000				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		30,332,000				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		86,775,000				89,299,000
Fair value adjustment		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		27,972,000				28,785,000
Fair value adjustment		300,000				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			1.74%
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			1.74%
Secured Debt		$ 96,000,000				$ 96,000,000
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 - Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
Debt - Interest Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Amortization of deferred financing costs	$ 4,416	$ 4,100	$ 3,504
Gain (Loss) on Interest Rate Derivative Instruments Not Designated as Hedging Instruments	(376)	376	0
Total interest expense	100,169	91,295	101,643
Senior Notes
Debt Instrument [Line Items]
Interest expense	23,767	23,793	28,428
Revolver and Term Loans
Debt Instrument [Line Items]
Interest expense	55,413	42,272	43,458
Mortgage loans
Debt Instrument [Line Items]
Interest expense	$ 16,949	$ 20,754	$ 26,253

Debt - Future Minimum Rental Payments (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Debt Disclosure [Abstract]
2021	$ 3,279
2022	490,386
2023	625,000
2024	581,000
2025	874,888
Long term debt, total future minimum principal payments	2,574,553
Fair value adjustment	$ 22,300

Derivatives and Hedging (Details) - USD ($)	12 Months Ended
Derivatives and Hedging (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financial Instruments: Derivatives and Hedging
Notional value	$ 2,124,000,000	$ 1,674,000,000
Interest rate swaps, net	(69,050,000)	19,514,000
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax	69,100,000	(19,500,000)
Amount of hedge ineffectiveness	0	0
Reclassification of unrealized gain on discontinued interest rate derivatives to interest expense		(2,250,000)	$ 0
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	(27,700,000)
Not Designated as Hedging Instrument
Financial Instruments: Derivatives and Hedging
Notional value	0	279,750,000
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	$ 0	(376,000)
Not Designated as Hedging Instrument \| Swap-cash flow 1
Financial Instruments: Derivatives and Hedging
Hedge interest rate	1.80%
Notional value	$ 0	30,195,000
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	$ 0	(34,000)
Not Designated as Hedging Instrument \| Swap-cash flow 2
Financial Instruments: Derivatives and Hedging
Hedge interest rate	1.80%
Notional value	$ 0	75,030,000
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	$ 0	(86,000)
Not Designated as Hedging Instrument \| Swap-cash flow 3
Financial Instruments: Derivatives and Hedging
Hedge interest rate	1.80%
Notional value	$ 0	32,025,000
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	$ 0	(37,000)
Not Designated as Hedging Instrument \| Swap-cash flow 4
Financial Instruments: Derivatives and Hedging
Hedge interest rate	1.81%
Notional value	$ 0	142,500,000
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	$ 0	(219,000)
Designated as Hedging Instrument \| Swap-cash flow 13
Financial Instruments: Derivatives and Hedging
Hedge interest rate	1.15%
Notional value	$ 100,000,000	100,000,000
Interest rate swaps, fair value, liabilities		607,000
Interest rate swaps, fair value, assets	$ (398,000)
Designated as Hedging Instrument \| Swap-cash flow 14
Financial Instruments: Derivatives and Hedging
Hedge interest rate	1.20%
Notional value	$ 100,000,000	100,000,000
Interest rate swaps, fair value, liabilities		538,000
Interest rate swaps, fair value, assets	$ (418,000)
Designated as Hedging Instrument \| Swap-cash flow 15
Financial Instruments: Derivatives and Hedging
Hedge interest rate	2.15%
Notional value	$ 75,000,000	75,000,000
Interest rate swaps, fair value, liabilities	$ 594,000	590,000
Designated as Hedging Instrument \| Swap-cash flow 16
Financial Instruments: Derivatives and Hedging
Hedge interest rate	1.91%
Notional value	$ 75,000,000	75,000,000
Interest rate swaps, fair value, liabilities	$ 523,000	337,000
Designated as Hedging Instrument \| Swap-cash flow 17
Financial Instruments: Derivatives and Hedging
Hedge interest rate	1.61%
Notional value	$ 50,000,000	50,000,000
Interest rate swaps, fair value, liabilities	$ 433,000	32,000
Designated as Hedging Instrument \| Swap-cash flow 18
Financial Instruments: Derivatives and Hedging
Hedge interest rate	1.56%
Notional value	$ 50,000,000	50,000,000
Interest rate swaps, fair value, liabilities		13,000
Interest rate swaps, fair value, assets	$ (416,000)
Designated as Hedging Instrument \| Swap-cash flow 19
Financial Instruments: Derivatives and Hedging
Hedge interest rate	1.71%
Notional value	$ 50,000,000	50,000,000
Interest rate swaps, fair value, liabilities	$ 462,000	109,000
Designated as Hedging Instrument \| Swap-cash flow 20
Financial Instruments: Derivatives and Hedging
Hedge interest rate	2.29%
Notional value	$ 200,000,000	200,000,000
Interest rate swaps, fair value, liabilities	$ 9,044,000	4,587,000
Designated as Hedging Instrument \| Swap-cash flow 24
Financial Instruments: Derivatives and Hedging
Hedge interest rate	2.29%
Notional value	$ 125,000,000	125,000,000
Interest rate swaps, fair value, liabilities	$ 5,648,000	2,859,000
Designated as Hedging Instrument \| Swap-cash flow 25
Financial Instruments: Derivatives and Hedging
Hedge interest rate	2.38%
Notional value	$ 200,000,000	200,000,000
Interest rate swaps, fair value, liabilities	$ 9,436,000	5,155,000
Designated as Hedging Instrument \| Swap-cash flow 26
Financial Instruments: Derivatives and Hedging
Hedge interest rate	2.38%
Notional value	$ 100,000,000	100,000,000
Interest rate swaps, fair value, liabilities	$ 4,716,000	2,574,000
Designated as Hedging Instrument \| Interest Rate, Swap Hedge, Type Twenty Seven [Member]
Financial Instruments: Derivatives and Hedging
Hedge interest rate	2.75%
Notional value	$ 100,000,000	100,000,000
Interest rate swaps, fair value, liabilities	$ 7,635,000
Interest rate swaps, fair value, assets		(3,590,000)
Designated as Hedging Instrument \| Swap-cash flow 21
Financial Instruments: Derivatives and Hedging
Hedge interest rate	2.51%
Notional value	$ 75,000,000	75,000,000
Interest rate swaps, fair value, liabilities	$ 5,284,000
Interest rate swaps, fair value, assets		(2,120,000)
Designated as Hedging Instrument \| Swap-cash flow 22
Financial Instruments: Derivatives and Hedging
Hedge interest rate	2.39%
Notional value	$ 75,000,000	75,000,000
Interest rate swaps, fair value, liabilities	$ 5,012,000
Interest rate swaps, fair value, assets		(1,858,000)
Designated as Hedging Instrument \| Swap-cash flow 23
Financial Instruments: Derivatives and Hedging
Hedge interest rate	1.35%
Notional value	$ 49,000,000	49,000,000
Interest rate swaps, fair value, assets	$ (454,000)	(181,000)
Designated as Hedging Instrument \| Interest Rate, Swap Hedge, Type Twenty Eight [Member]
Financial Instruments: Derivatives and Hedging
Hedge interest rate	1.28%
Notional value	$ 100,000,000	100,000,000
Interest rate swaps, fair value, liabilities		690,000
Interest rate swaps, fair value, assets	$ (2,035,000)
Designated as Hedging Instrument \| Interest Rate, Swap Hedge, Type Twenty Nine [Member]
Financial Instruments: Derivatives and Hedging
Hedge interest rate	1.24%
Notional value	$ 150,000,000	150,000,000
Interest rate swaps, fair value, liabilities		2,268,000
Interest rate swaps, fair value, assets	$ (5,508,000)
Designated as Hedging Instrument \| Interest Rate, Swap Hedge, Type Thirty [Member]
Financial Instruments: Derivatives and Hedging
Hedge interest rate	1.16%
Notional value	$ 50,000,000	0
Interest rate swaps, fair value, liabilities		0
Interest rate swaps, fair value, assets	$ (1,464,000)
Designated as Hedging Instrument \| Interest Rate, Swap Hedge, Type Thirty One [Member]
Financial Instruments: Derivatives and Hedging
Hedge interest rate	1.20%
Notional value	$ 50,000,000	0
Interest rate swaps, fair value, liabilities		0
Interest rate swaps, fair value, assets	$ (1,526,000)
Designated as Hedging Instrument \| Interest Rate, Swap Hedge, Type Thirty Two [Member]
Financial Instruments: Derivatives and Hedging
Hedge interest rate	1.15%
Notional value	$ 50,000,000	0
Interest rate swaps, fair value, liabilities		0
Interest rate swaps, fair value, assets	$ (1,450,000)
Designated as Hedging Instrument \| Interest Rate, Swap Hedge, Type Thirty Three [Member]
Financial Instruments: Derivatives and Hedging
Hedge interest rate	1.10%
Notional value	$ 50,000,000	0
Interest rate swaps, fair value, liabilities		0
Interest rate swaps, fair value, assets	$ (1,374,000)
Designated as Hedging Instrument \| Interest Rate, Swap Hedge, Type Thirty Four [Member]
Financial Instruments: Derivatives and Hedging
Hedge interest rate	0.98%
Notional value	$ 25,000,000	0
Interest rate swaps, fair value, liabilities		0
Interest rate swaps, fair value, assets	$ (596,000)
Designated as Hedging Instrument \| Interest Rate, Swap Hedge, Type Thirty Five [Member]
Financial Instruments: Derivatives and Hedging
Hedge interest rate	0.95%
Notional value	$ 25,000,000	0
Interest rate swaps, fair value, liabilities		0
Interest rate swaps, fair value, assets	$ (573,000)
Designated as Hedging Instrument \| Interest Rate, Swap Hedge, Type Thirty Six [Member]
Financial Instruments: Derivatives and Hedging
Hedge interest rate	0.93%
Notional value	$ 25,000,000	0
Interest rate swaps, fair value, liabilities		0
Interest rate swaps, fair value, assets	$ (558,000)
Designated as Hedging Instrument \| Interest Rate, Swap Hedge, Type Thirty Seven [Member]
Financial Instruments: Derivatives and Hedging
Hedge interest rate	0.90%
Notional value	$ 25,000,000	0
Interest rate swaps, fair value, liabilities		0
Interest rate swaps, fair value, assets	$ (535,000)
Designated as Hedging Instrument \| Interest Rate, Swap Hedge, Type Thirty Eight [Member]
Financial Instruments: Derivatives and Hedging
Hedge interest rate	0.85%
Notional value	$ 50,000,000	0
Interest rate swaps, fair value, liabilities		0
Interest rate swaps, fair value, assets	$ (1,249,000)
Designated as Hedging Instrument \| Interest Rate, Swap Hedge, Type Thirty Nine [Member]
Financial Instruments: Derivatives and Hedging
Hedge interest rate	0.75%
Notional value	$ 50,000,000	0
Interest rate swaps, fair value, liabilities		0
Interest rate swaps, fair value, assets	$ (1,047,000)
Designated as Hedging Instrument \| Interest Rate, Swap Hedge, Type Forty [Member]
Financial Instruments: Derivatives and Hedging
Hedge interest rate	0.65%
Notional value	$ 50,000,000	0
Interest rate swaps, fair value, liabilities		0
Interest rate swaps, fair value, assets	(662,000)
Accounts Payable and Accrued Liabilities \| Interest rate swap
Financial Instruments: Derivatives and Hedging
Interest rate swaps, fair value, liabilities	69,100,000	24,200,000
Prepaid Expenses and Other Current Assets \| Interest rate swap
Financial Instruments: Derivatives and Hedging
Interest rate swaps, fair value, assets		(4,300,000)
Interest Expense
Financial Instruments: Derivatives and Hedging
Reclassification of unrealized gain on discontinued interest rate derivatives to interest expense	$ (19,700,000)	$ 5,400,000

Fair Value (Details)	12 Months Ended
Fair Value (Details)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, net	$ 2,587,731,000	$ 2,195,707,000
Total	69,050,000	(19,514,000)
Impairment loss	$ 0	13,500,000	$ 0
Number of Properties Impaired	2
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	$ 2,539,983,000	2,206,152,000
Recurring \| Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap asset		4,297,000
Interest rate swap liability	(69,050,000)	(24,187,000)
Total	(69,050,000)	(19,890,000)
Recurring \| Level 1 \| Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap asset		0
Interest rate swap liability	0	0
Total	0	0
Recurring \| 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
Interest rate swap liability	(69,050,000)	(24,187,000)
Total	(69,050,000)	(19,890,000)
Recurring \| Level 3 \| Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap asset		0
Interest rate swap liability	0	0
Total	0	0
Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment loss		6,019,000
Fair Value, Measurements, Nonrecurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment loss		0
Fair Value, Measurements, Nonrecurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment loss		0
Fair Value, Measurements, Nonrecurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment loss		6,019,000
Senior Notes \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Gross	495,759,000	500,484,000
Long-term Debt, Fair Value	484,229,000	497,835,000
Revolver and Term Loans, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unsecured Debt	1,568,304,000	1,168,793,000
Revolver and Term Loans, net \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	1,543,636,000	1,176,068,000
Mortgage loans, net \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, net	523,668,000	526,430,000
Long-term Debt, Fair Value	$ 512,118,000	$ 532,249,000

Commitments and Contingencies - Additional Information (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2020	Dec. 31, 2020 property	Dec. 31, 2020 hotel
Ground Leases
Number of properties subject to ground lease \| hotel							12
Rent expense		$ 12,400	$ 15,700	$ 15,600
Ground Lease Expense				22,200
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		$ 34,977	44,686	64,695
Number of real estate properties					29	103
Loss Contingency, Damages Sought, Value	$ 8,300
Wyndham Boston Beacon Hill
Ground Leases
Rent expense		400	900	900
Wyndham San Diego Bayside
Ground Leases
Rent expense		4,100	4,800	4,800
DoubleTree Suites by Hilton Orlando Lake Buena Vista
Ground Leases
Rent expense		300	900	800
Residence Inn Palo Alto Los Altos
Ground Leases
Rent expense		100	100	100
Wyndham Pittsburgh University Center
Ground Leases
Rent expense		700	700	800
Marriott Louisville Downtown
Ground Leases
Rent expense		0	0	0
Embassy Suites San Francisco Airport Waterfront
Ground Leases
Rent expense		1,200	2,400	2,300
Wyndham New Orleans French Quarter
Ground Leases
Rent expense		500	500	500
Courtyard Charleston Historic District
Ground Leases
Rent expense		1,000	1,000	1,000
Courtyard Austin Downtown Convention Center and Residence Inn Downtown Convention Center
Ground Leases
Rent expense		400	800	900
Courtyard Waikiki Beach
Ground Leases
Rent expense		3,700	3,600	3,500
Fixed Operating Lease Expense
Ground Leases
Rent expense		11,600	11,600
Variable Operating Lease Expense
Ground Leases
Rent expense		$ 800	$ 4,100
Disposals 2018
Ground Leases
Rent expense				$ 6,600

Commitments and Contingencies - Future Minimum Ground Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Minimum ground rent
2021	$ 11,201
2022	11,309
2023	11,405
2024	11,465
2025	11,516
Thereafter	534,621
Total future lease payments	591,517
Imputed interest	(468,924)
Lease liabilities	$ 122,593	$ 121,154
Weighted average remaining lease term	62 years
Weighted average discount rate	7.03%

Commitments and Contingencies - Management and Franchise Agreements (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($) agreement	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2020 property	Dec. 31, 2020 hotel	Mar. 31, 2017 hotel
Operating Leased Assets [Line Items]
Number of hotel properties operated pursuant to long-term management agreements					102
Number of hotel management companies \| agreement	13
Number of real estate properties	29			103
COVID-19
Operating Leased Assets [Line Items]
Severance Costs \| $	$ 8.7
COVID-19 \| NEW YORK
Operating Leased Assets [Line Items]
Severance Costs \| $	$ 6.7
Minimum
Operating Leased Assets [Line Items]
Management agreement term	1 year
Base management fee percentage	1.75%
Management agreement with franchise agreement, base management fee percentage	3.00%
Term of franchise agreements	1 year
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%
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%
Aimbridge Hospitality
Operating Leased Assets [Line Items]
Number of hotel properties operated pursuant to long-term management agreements					35
Crestline Hotels and Resorts
Operating Leased Assets [Line Items]
Number of hotel properties operated pursuant to long-term management agreements					1
Davidson Hotels and 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 International, Inc.
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
White Lodging Services
Operating Leased Assets [Line Items]
Number of hotel properties operated pursuant to long-term management agreements					8
Wyndham
Operating Leased Assets [Line Items]
Number of hotel properties operated pursuant to long-term management agreements					8
Base management fee percentage		2.00%
Termination Payments \| $		$ 36.0
Termination Payments Received \| $	$ 1.0	$ 35.0
Transitional Franchise & Management Fees		3.00%
Increase (Decrease) in Management and Franchise Fee Expense \| $	17.8
Management Service
Operating Leased Assets [Line Items]
Cost of Goods and Services Sold \| $	$ 13.2	$ 45.5	$ 57.3
Franchise
Operating Leased Assets [Line Items]
Number of real estate properties	72
Cost of Goods and Services Sold \| $	$ 25.6	$ 75.3	$ 80.8
Wyndham
Operating Leased Assets [Line Items]
Number of real estate properties						1
InterContinental Hotels Group PLC
Operating Leased Assets [Line Items]
Number of real estate properties						3
Disposals 2006 \| InterContinental Hotels Group PLC
Operating Leased Assets [Line Items]
Number of real estate properties						2

Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Feb. 14, 2020	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				450,000,000
Number of shares acquired as part of a share repurchase program (in shares)					5,489,335	4,575,170	1,162,557
Shares acquired as part of a share repurchase program					$ 62,604	$ 77,834	$ 21,814
Share repurchase program, authorized amount								$ 250,000
Common stock, dividends, per share	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.04	$ 1.32	$ 1.32
Total authorized for issuance number of preferred shares of beneficial interest (in shares)	50,000,000				50,000,000	50,000,000				50,000,000
Number of OP units outstanding (in shares)	165,775,045				165,775,045
Limited Partner's ownership interest in the Operating Partnership					99.50%
Proceeds from Issuance of Redeemable Convertible Preferred Stock					$ 45,000
Proceeds net of issuance costs on the issuance of preferred equity in a consolidated joint venture					$ 44,400
The Knickerbocker New York
Equity
Noncontrolling ownership interest in joint venture	5.00%				5.00%
DBT Met Hotel Venture, LP
Equity
Noncontrolling ownership interest in joint venture	1.70%				1.70%
Common Shares of beneficial interest, par value $0.01 per share
Equity
Number of shares acquired as part of a share repurchase program (in shares)					5,489,335	4,575,170	1,162,557
Shares acquired as part of a share repurchase program					$ 55	$ 45	$ 12
Limited Partners
Equity
Limited Partner's ownership interest in the Operating Partnership					0.50%
Number of OP units outstanding (in shares)	772,293				772,293
Common Shares of beneficial interest, par value $0.01 per share
Equity
Shares acquired as part of a share repurchase program							$ 21,800
Series A Cumulative Preferred Stock
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, dividends per share, declared					$ 1.95	$ 1.95	$ 1.95
Corporate Joint Venture
Equity
Preferred stock, dividend rate, percentage					3.25%
Preferred stock, dividend rate, non-compounding rate payable at redemption, percentage					0.25%
2020 Share Repurchase Program
Equity
Shares acquired as part of a share repurchase program					$ 36,600
Share repurchase program, authorized amount									$ 26,000
Remaining authorized repurchase amount	$ 213,400				$ 213,400
2019 Share Repurchase Program
Equity
Shares acquired as part of a share repurchase program						$ 67,500
2015 Share Repurchase Program
Equity
Share repurchase program, authorized amount						$ 10,300

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, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
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)				762,744
Restricted share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested restricted shares				1,252,228	940,202	740,792	700,325
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value				$ 15.17	$ 20.21	$ 21.89	$ 22.88
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period				801,463	530,436	592,673
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value				$ 11.95	$ 18.69	$ 21.42
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period				(480,444)	(312,131)	(438,881)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value				$ 19.59	$ 21.63	$ 22.92
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period				(8,993)	(18,895)	(113,325)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value				$ 18.80	$ 20.03	$ 21.58
Share-based compensation expense				$ 8.7	$ 8.6	$ 10.2
Total unrecognized compensation costs				$ 13.7
Weighted-average period of recognition of unrecognized share-based compensation expense				2 years 4 months 24 days
Total fair value of shares vested				$ 5.2	$ 5.5	$ 9.5
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						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%
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					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, 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%
Performance units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense				3.5	$ 2.9	$ 2.1
Total unrecognized compensation costs				$ 7.1
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				489,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value				$ 12.06
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				1.08%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate				23.46%
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	0.00%
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			150
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						150
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					150
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				200

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Net (loss) income attributable to RLJ									$ (404,441)	$ 127,842	$ 188,643
Numerator:
Preferred dividends									(25,115)	(25,115)	(25,115)
Less: Dividends paid on unvested restricted shares									(55)	(1,342)	(1,181)
Less: Undistributed earnings attributable to unvested restricted shares									0	0	0
Net (loss) income attributable to common shareholders excluding amounts attributable to unvested restricted shares									$ (429,611)	$ 101,385	$ 162,347
Denominator:
Weighted-average number of common shares - basic (in shares)	163,729,671	163,609,865	163,543,701	167,149,733	169,241,536	170,495,699	172,661,878	172,796,998	164,503,661	171,287,086	174,225,130
Unvested restricted shares									0	101,390	91,275
Weighted-average number of common shares - diluted (in shares)	163,729,671	163,609,865	163,543,701	167,149,733	169,376,667	170,600,787	172,766,091	172,856,230	164,503,661	171,388,476	174,316,405
Net income per share attributable to common shareholders - basic (in dollars per share)	$ (0.57)	$ (1.10)	$ (0.74)	$ (0.21)	$ 0.17	$ 0.15	$ 0.16	$ 0.12	$ (2.61)	$ 0.59	$ 0.93
Net income per share attributable to common shareholders - diluted (in dollars per share)	$ (0.57)	$ (1.10)	$ (0.74)	$ (0.21)	$ 0.17	$ 0.15	$ 0.16	$ 0.12	$ (2.61)	$ 0.59	$ 0.93

Income Taxes - Cash Distributions and Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal	$ 0	$ 0	$ 0
State	(484)	(3,067)	(2,209)
Deferred:
Federal	(45,438)	3,987	(4,867)
State	(6,048)	2,831	(1,717)
Income tax (expense) benefit	(51,970)	3,751	(8,793)
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 benefit (expense) at statutory rate	90,143	(26,382)	(41,864)
Tax impact of REIT election	(85,140)	24,129	35,058
Expected tax benefit (expense) at TRS	5,003	(2,253)	(6,806)
Change in valuation allowance	(59,321)	(297)	542
State income tax benefit (expense), net of federal benefit	1,174	(2,367)	(1,463)
State income tax benefit (expense), net of federal benefit	0	9,973	0
Impact of rate changes	349	332	(51)
Other permanent items	(22)	(117)	(566)
Impact of provision to return/deferred adjustments	847	(1,520)	(449)
Income tax (expense) benefit	$ (51,970)	$ 3,751	$ (8,793)

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax liabilities:
Partnership basis	$ (2,453)	$ (977)
Prepaid expenses	(1,157)	(1,496)
Deferred tax liabilities	(3,610)	(2,473)
Deferred tax assets:
Property and equipment	2,619	1,786
Incentive and vacation accrual	2,339	3,878
Deferred revenue - key money	966	994
Allowance for doubtful accounts	76	65
Other	202	421
Net operating loss carryforwards	71,831	57,109
Deferred Tax Assets, Historic Tax Credits	824	824
Wyndham guarantee	5,384	10,192
Valuation allowance	(80,670)	(21,349)
Deferred tax assets	$ 3,571	$ 53,920

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Change in valuation allowance	$ 59,321	$ 297	$ (542)
Income tax (expense) benefit	(51,970)	3,751	$ (8,793)
Valuation allowance	$ 80,670	$ 21,349

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Supplemental Information to Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Supplemental Cash Flows [Line Items]
Cash and cash equivalents	$ 899,813	$ 882,474	$ 320,147
Restricted cash reserves	34,977	44,686	64,695
Cash, cash equivalents, and restricted cash reserves	934,790	927,160	384,842	$ 659,076
Interest paid	98,511	97,259	114,280
Income taxes paid	1,501	4,090	1,836
Operating cash flow lease payments for operating leases	11,813	15,270
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	4,100	0
In conjunction with the sale of hotel properties, the Company recorded the following:
Sale of hotel properties	4,883	705,681	530,850
Escrow related to certain post-closing obligations	0	0	1,000
Purchase option for land subject to a ground lease	0	0	(44,831)
Transaction costs	(133)	(10,482)	(10,668)
Operating prorations	(98)	(9,329)	(1,288)
Receipt of forfeited deposit	517	0	0
Proceeds from the sale of hotel properties, net	5,169	685,870	475,063
Supplemental non-cash transactions
Change in fair market value of designated interest rate swaps	(49,536)	(33,459)	7,349
Accrued capital expenditures	7,313	14,234	15,709
Distributions payable	8,752	64,165	65,557
Accumulated Other Comprehensive Loss
Supplemental non-cash transactions
Change in fair market value of designated interest rate swaps	$ (49,536)	$ (33,459)	$ 7,349

Quarterly Operating Results (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 91,083	$ 83,932	$ 32,591	$ 265,481	$ 347,074	$ 371,124	$ 448,727	$ 399,267	$ 473,087	$ 1,566,192	$ 1,761,224
Net loss	(87,888)	(173,919)	(116,166)	(30,829)	34,912	32,455	33,681	28,331
Net Income (Loss) Available to Common Stockholders, Basic	(93,220)	(179,380)	(121,353)	(35,603)	28,404	26,184	27,165	20,974	(429,556)	102,727	163,528
Comprehensive loss attributable to RLJ	$ (79,028)	$ (167,492)	$ (121,656)	$ (85,801)	$ 43,836	$ 26,784	$ 11,799	$ 10,867	$ (453,977)	$ 93,286	$ 195,992
Basic per share data (1):
Net income per share attributable to common shareholders - basic (in dollars per share)	$ (0.57)	$ (1.10)	$ (0.74)	$ (0.21)	$ 0.17	$ 0.15	$ 0.16	$ 0.12	$ (2.61)	$ 0.59	$ 0.93
Diluted per share data (1):
Net income per share attributable to common shareholders - diluted (in dollars per share)	$ (0.57)	$ (1.10)	$ (0.74)	$ (0.21)	$ 0.17	$ 0.15	$ 0.16	$ 0.12	$ (2.61)	$ 0.59	$ 0.93
Weighted-average number of common shares (in shares)	163,729,671	163,609,865	163,543,701	167,149,733	169,241,536	170,495,699	172,661,878	172,796,998	164,503,661	171,287,086	174,225,130
Weighted Average Number of Shares Outstanding, Diluted	163,729,671	163,609,865	163,543,701	167,149,733	169,376,667	170,600,787	172,766,091	172,856,230	164,503,661	171,388,476	174,316,405

Schedule III - Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Real Estate and Accumulated Depreciation
Debt	$ 526,079
Initial Costs
Land & Improvements	1,076,382
Building & Improvements	3,567,557
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	530,370
Gross Amount
Land & Improvements	1,089,597
Buildings & Improvements	4,084,712
Total	5,174,309	$ 5,127,448	$ 5,903,906	$ 6,165,296
Accumulated Depreciation	827,808	$ 706,040	$ 759,643	$ 628,518
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	3,946
Gross Amount
Land & Improvements	5,353
Buildings & Improvements	43,466
Total	48,819
Accumulated Depreciation	$ 15,836
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	25,110
Gross Amount
Land & Improvements	92
Buildings & Improvements	114,559
Total	114,651
Accumulated Depreciation	$ 36,502
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	2,771
Gross Amount
Land & Improvements	4,496
Buildings & Improvements	35,475
Total	39,971
Accumulated Depreciation	$ 12,867
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	3,245
Gross Amount
Land & Improvements	4,719
Buildings & Improvements	35,523
Total	40,242
Accumulated Depreciation	$ 12,742
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	8,194
Gross Amount
Land & Improvements	4,876
Buildings & Improvements	43,677
Total	48,553
Accumulated Depreciation	$ 13,898
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	9,430
Gross Amount
Land & Improvements	8,142
Buildings & Improvements	69,124
Total	77,266
Accumulated Depreciation	$ 24,031
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	2,236
Gross Amount
Land & Improvements	1,080
Buildings & Improvements	9,810
Total	10,890
Accumulated Depreciation	$ 3,477
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	4,101
Gross Amount
Land & Improvements	2,635
Buildings & Improvements	22,155
Total	24,790
Accumulated Depreciation	$ 7,236
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	2,674
Gross Amount
Land & Improvements	2,197
Buildings & Improvements	18,576
Total	20,773
Accumulated Depreciation	$ 7,394
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	3,447
Gross Amount
Land & Improvements	731
Buildings & Improvements	5,664
Total	6,395
Accumulated Depreciation	$ 3,623
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	5,163
Gross Amount
Land & Improvements	6,049
Buildings & Improvements	49,524
Total	55,573
Accumulated Depreciation	$ 15,491
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	1,092
Gross Amount
Land & Improvements	1,048
Buildings & Improvements	8,364
Total	9,412
Accumulated Depreciation	$ 2,952
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	1,322
Gross Amount
Land & Improvements	1,043
Buildings & Improvements	8,449
Total	9,492
Accumulated Depreciation	$ 2,905
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	3,065
Gross Amount
Land & Improvements	2,665
Buildings & Improvements	22,614
Total	25,279
Accumulated Depreciation	$ 8,347
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	4,612
Gross Amount
Land & Improvements	2,670
Buildings & Improvements	24,200
Total	26,870
Accumulated Depreciation	$ 7,862
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	$ 2,143
Residence Inn Merrillville [Member] \| Minimum
Gross Amount
Depreciation Life	15 years
Residence Inn Merrillville [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	1,103
Gross Amount
Land & Improvements	1,923
Buildings & Improvements	15,204
Total	17,127
Accumulated Depreciation	$ 5,566
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	3,015
Gross Amount
Land & Improvements	1,815
Buildings & Improvements	16,323
Total	18,138
Accumulated Depreciation	$ 4,963
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	4,312
Gross Amount
Land & Improvements	3,804
Buildings & Improvements	31,901
Total	35,705
Accumulated Depreciation	$ 9,555
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	1,720
Gross Amount
Land & Improvements	2,409
Buildings & Improvements	19,390
Total	21,799
Accumulated Depreciation	$ 7,001
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	1,350
Gross Amount
Land & Improvements	1,203
Buildings & Improvements	10,173
Total	11,376
Accumulated Depreciation	$ 3,810
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	1,548
Gross Amount
Land & Improvements	790
Buildings & Improvements	6,781
Total	7,571
Accumulated Depreciation	$ 2,505
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	3,518
Gross Amount
Land & Improvements	1,853
Buildings & Improvements	22,793
Total	24,646
Accumulated Depreciation	$ 8,258
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	2,012
Gross Amount
Land & Improvements	1,447
Buildings & Improvements	12,439
Total	13,886
Accumulated Depreciation	$ 4,489
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	3,067
Gross Amount
Land & Improvements	2,793
Buildings & Improvements	23,164
Total	25,957
Accumulated Depreciation	$ 8,439
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	1,585
Gross Amount
Land & Improvements	3,000
Buildings & Improvements	23,405
Total	26,405
Accumulated Depreciation	$ 8,517
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	1,863
Gross Amount
Land & Improvements	1,211
Buildings & Improvements	10,559
Total	11,770
Accumulated Depreciation	$ 4,100
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	3,154
Gross Amount
Land & Improvements	1,902
Buildings & Improvements	16,868
Total	18,770
Accumulated Depreciation	$ 5,692
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	703
Gross Amount
Land & Improvements	851
Buildings & Improvements	6,820
Total	7,671
Accumulated Depreciation	$ 2,444
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	2,792
Gross Amount
Land & Improvements	5,737
Buildings & Improvements	25,510
Total	31,247
Accumulated Depreciation	$ 8,292
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	2,073
Gross Amount
Land & Improvements	3,069
Buildings & Improvements	24,581
Total	27,650
Accumulated Depreciation	$ 8,059
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	11,520
Gross Amount
Land & Improvements	4,970
Buildings & Improvements	41,350
Total	46,320
Accumulated Depreciation	$ 12,346
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	14,448
Gross Amount
Land & Improvements	2,425
Buildings & Improvements	85,201
Total	87,626
Accumulated Depreciation	$ 21,524
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	7,706
Gross Amount
Land & Improvements	16,447
Buildings & Improvements	29,738
Total	46,185
Accumulated Depreciation	$ 8,984
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	1,860
Gross Amount
Land & Improvements	2,926
Buildings & Improvements	9,612
Total	12,538
Accumulated Depreciation	$ 3,102
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	5,104
Gross Amount
Land & Improvements	23,150
Buildings & Improvements	39,281
Total	62,431
Accumulated Depreciation	$ 10,484
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	11,992
Gross Amount
Land & Improvements	2,082
Buildings & Improvements	15,676
Total	17,758
Accumulated Depreciation	$ 7,127
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	2,119
Gross Amount
Land & Improvements	7,480
Buildings & Improvements	39,142
Total	46,622
Accumulated Depreciation	$ 10,166
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	9,191
Gross Amount
Land & Improvements	3,479
Buildings & Improvements	29,867
Total	33,346
Accumulated Depreciation	$ 8,237
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	10,704
Gross Amount
Land & Improvements	5,667
Buildings & Improvements	29,476
Total	35,143
Accumulated Depreciation	$ 8,635
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	24,524
Gross Amount
Land & Improvements	140,513
Buildings & Improvements	212,357
Total	352,870
Accumulated Depreciation	$ 57,057
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	11,147
Gross Amount
Land & Improvements	3,396
Buildings & Improvements	50,959
Total	54,355
Accumulated Depreciation	$ 12,700
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	3,840
Gross Amount
Land & Improvements	2,875
Buildings & Improvements	25,493
Total	28,368
Accumulated Depreciation	$ 6,863
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	4,854
Gross Amount
Land & Improvements	3,179
Buildings & Improvements	43,114
Total	46,293
Accumulated Depreciation	$ 11,722
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	7,884
Gross Amount
Land & Improvements	3,877
Buildings & Improvements	17,277
Total	21,154
Accumulated Depreciation	$ 6,040
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	9,024
Gross Amount
Land & Improvements	2,382
Buildings & Improvements	27,107
Total	29,489
Accumulated Depreciation	$ 8,937
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	4,499
Gross Amount
Land & Improvements	3,510
Buildings & Improvements	39,531
Total	43,041
Accumulated Depreciation	$ 9,234
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	6,895
Gross Amount
Land & Improvements	8,287
Buildings & Improvements	59,511
Total	67,798
Accumulated Depreciation	$ 13,551
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	7,860
Gross Amount
Land & Improvements	21,265
Buildings & Improvements	67,472
Total	88,737
Accumulated Depreciation	$ 15,483
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	14,212
Gross Amount
Land & Improvements	12,187
Buildings & Improvements	36,685
Total	48,872
Accumulated Depreciation	$ 6,472
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	4,842
Gross Amount
Land & Improvements	6,386
Buildings & Improvements	60,748
Total	67,134
Accumulated Depreciation	$ 13,503
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	4,558
Gross Amount
Land & Improvements	6,050
Buildings & Improvements	33,260
Total	39,310
Accumulated Depreciation	$ 7,051
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	4,991
Gross Amount
Land & Improvements	4,875
Buildings & Improvements	29,703
Total	34,578
Accumulated Depreciation	$ 6,164
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	15,951
Gross Amount
Land & Improvements	2,566
Buildings & Improvements	28,523
Total	31,089
Accumulated Depreciation	$ 6,970
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	13,102
Gross Amount
Land & Improvements	801
Buildings & Improvements	91,891
Total	92,692
Accumulated Depreciation	$ 18,602
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	28,732
Gross Amount
Land & Improvements	11,291
Buildings & Improvements	46,916
Total	58,207
Accumulated Depreciation	$ 10,985
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	7,602
Gross Amount
Land & Improvements	2,969
Buildings & Improvements	13,489
Total	16,458
Accumulated Depreciation	$ 3,080
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	1,481
Gross Amount
Land & Improvements	3,515
Buildings & Improvements	19,737
Total	23,252
Accumulated Depreciation	$ 3,784
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	6,905
Gross Amount
Land & Improvements	25,212
Buildings & Improvements	47,483
Total	72,695
Accumulated Depreciation	$ 7,963
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	2,013
Gross Amount
Land & Improvements	3,029
Buildings & Improvements	28,206
Total	31,235
Accumulated Depreciation	$ 4,840
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	$ 3,161
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	6,689
Gross Amount
Land & Improvements	7,517
Buildings & Improvements	35,734
Total	43,251
Accumulated Depreciation	$ 7,303
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	1,423
Gross Amount
Land & Improvements	10,625
Buildings & Improvements	22,506
Total	33,131
Accumulated Depreciation	$ 4,366
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	2,433
Gross Amount
Land & Improvements	6,894
Buildings & Improvements	34,041
Total	40,935
Accumulated Depreciation	$ 5,644
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	$ 3,067
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	3,157
Gross Amount
Land & Improvements	8,046
Buildings & Improvements	30,858
Total	38,904
Accumulated Depreciation	$ 5,700
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	1,679
Gross Amount
Land & Improvements	5,957
Buildings & Improvements	18,554
Total	24,511
Accumulated Depreciation	$ 3,159
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	1,475
Gross Amount
Land & Improvements	6,271
Buildings & Improvements	15,143
Total	21,414
Accumulated Depreciation	$ 3,017
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	1,399
Gross Amount
Land & Improvements	6,701
Buildings & Improvements	26,877
Total	33,578
Accumulated Depreciation	$ 4,438
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	8,900
Gross Amount
Land & Improvements	15,187
Buildings & Improvements	41,823
Total	57,010
Accumulated Depreciation	$ 8,130
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	1,511
Gross Amount
Land & Improvements	8,022
Buildings & Improvements	54,532
Total	62,554
Accumulated Depreciation	$ 9,236
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	1,164
Gross Amount
Land & Improvements	3,740
Buildings & Improvements	42,892
Total	46,632
Accumulated Depreciation	$ 7,098
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	8,253
Gross Amount
Land & Improvements	48,266
Buildings & Improvements	35,949
Total	84,215
Accumulated Depreciation	$ 6,758
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	1,987
Gross Amount
Land & Improvements	10,763
Buildings & Improvements	57,212
Total	67,975
Accumulated Depreciation	$ 7,960
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	204
Gross Amount
Land & Improvements	4,001
Buildings & Improvements	31,085
Total	35,086
Accumulated Depreciation	$ 4,440
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	$ 30,332
Initial Costs
Land & Improvements	16,996
Building & Improvements	45,786
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	801
Gross Amount
Land & Improvements	17,099
Buildings & Improvements	46,484
Total	63,583
Accumulated Depreciation	$ 6,680
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	1,049
Gross Amount
Land & Improvements	7,225
Buildings & Improvements	51,723
Total	58,948
Accumulated Depreciation	$ 4,380
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
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	896
Building & Improvements	44,508
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	981
Gross Amount
Land & Improvements	989
Buildings & Improvements	45,396
Total	46,385
Accumulated Depreciation	$ 4,006
DoubleTree Suites by Hilton Orlando Lake Buena Vista \| Minimum
Gross Amount
Depreciation Life	15 years
DoubleTree Suites by Hilton Orlando Lake Buena Vista \| 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	8,006
Gross Amount
Land & Improvements	31,479
Buildings & Improvements	53,821
Total	85,300
Accumulated Depreciation	$ 4,485
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	$ 21,130
Initial Costs
Land & Improvements	10,495
Building & Improvements	33,568
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	641
Gross Amount
Land & Improvements	10,512
Buildings & Improvements	34,192
Total	44,704
Accumulated Depreciation	$ 3,020
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	1,645
Gross Amount
Land & Improvements	6,413
Buildings & Improvements	36,334
Total	42,747
Accumulated Depreciation	$ 3,092
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	$ 27,972
Initial Costs
Land & Improvements	7,527
Building & Improvements	56,128
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	3,772
Gross Amount
Land & Improvements	7,815
Buildings & Improvements	59,612
Total	67,427
Accumulated Depreciation	$ 5,133
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	$ 31,673
Initial Costs
Land & Improvements	30,933
Building & Improvements	54,592
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	3,190
Gross Amount
Land & Improvements	31,277
Buildings & Improvements	57,438
Total	88,715
Accumulated Depreciation	$ 5,195
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	1,841
Gross Amount
Land & Improvements	13,168
Buildings & Improvements	96,516
Total	109,684
Accumulated Depreciation	$ 8,183
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	5,143
Gross Amount
Land & Improvements	35,865
Buildings & Improvements	58,327
Total	94,192
Accumulated Depreciation	$ 5,030
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	3,336
Gross Amount
Land & Improvements	15,057
Buildings & Improvements	21,143
Total	36,200
Accumulated Depreciation	$ 2,158
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	12,887
Gross Amount
Land & Improvements	43,369
Buildings & Improvements	39,074
Total	82,443
Accumulated Depreciation	$ 3,716
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	$ 33,972
Initial Costs
Land & Improvements	7,248
Building & Improvements	41,202
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	17,148
Gross Amount
Land & Improvements	9,673
Buildings & Improvements	55,925
Total	65,598
Accumulated Depreciation	$ 5,887
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	1,402
Gross Amount
Land & Improvements	4,923
Buildings & Improvements	38,909
Total	43,832
Accumulated Depreciation	$ 3,420
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	2,833
Gross Amount
Land & Improvements	24,783
Buildings & Improvements	27,217
Total	52,000
Accumulated Depreciation	$ 2,500
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	14,167
Gross Amount
Land & Improvements	39,683
Buildings & Improvements	69,263
Total	108,946
Accumulated Depreciation	$ 5,888
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
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	4,076
Gross Amount
Land & Improvements	4,054
Buildings & Improvements	88,990
Total	93,044
Accumulated Depreciation	$ 8,293
Embassy Suites San Francisco Airport Waterfront \| Minimum
Gross Amount
Depreciation Life	15 years
Embassy Suites San Francisco Airport Waterfront \| 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	13,148
Gross Amount
Land & Improvements	46,883
Buildings & Improvements	120,879
Total	167,762
Accumulated Depreciation	$ 10,849
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
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	1,626
Gross Amount
Land & Improvements	113,622
Buildings & Improvements	121,070
Total	234,692
Accumulated Depreciation	$ 10,113
The Knickerbocker New York \| Minimum
Gross Amount
Depreciation Life	15 years
The Knickerbocker New York \| 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	989
Gross Amount
Land & Improvements	9,601
Buildings & Improvements	69,919
Total	79,520
Accumulated Depreciation	$ 5,878
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
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	174
Building & Improvements	51,934
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	1,552
Gross Amount
Land & Improvements	178
Buildings & Improvements	53,482
Total	53,660
Accumulated Depreciation	$ 15,955
Wyndham Boston Beacon Hill \| Minimum
Gross Amount
Depreciation Life	10 years
Wyndham Boston Beacon Hill \| 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	278
Gross Amount
Land & Improvements	7,806
Buildings & Improvements	43,723
Total	51,529
Accumulated Depreciation	$ 3,723
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
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	300
Building & Improvements	72,711
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	736
Gross Amount
Land & Improvements	300
Buildings & Improvements	73,447
Total	73,747
Accumulated Depreciation	$ 6,225
Wyndham New Orleans French Quarter \| Minimum
Gross Amount
Depreciation Life	15 years
Wyndham New Orleans French Quarter \| 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	713
Gross Amount
Land & Improvements	8,405
Buildings & Improvements	52,589
Total	60,994
Accumulated Depreciation	$ 4,452
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
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	154
Building & Improvements	31,625
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	365
Gross Amount
Land & Improvements	158
Buildings & Improvements	31,986
Total	32,144
Accumulated Depreciation	$ 2,696
Wyndham Pittsburgh University Center \| Minimum
Gross Amount
Depreciation Life	15 years
Wyndham Pittsburgh University Center \| Maximum
Gross Amount
Depreciation Life	40 years
Wyndham San Diego Bayside
Real Estate and Accumulated Depreciation
Debt	$ 0
Initial Costs
Land & Improvements	989
Building & Improvements	29,440
Costs Capitalized Subsequent to Acquisition
Land, Building & Improvements	5,154
Gross Amount
Land & Improvements	1,129
Buildings & Improvements	34,454
Total	35,583
Accumulated Depreciation	$ 8,807
Wyndham San Diego Bayside \| Minimum
Gross Amount
Depreciation Life	11 years
Wyndham San Diego Bayside \| 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	715
Gross Amount
Land & Improvements	27,081
Buildings & Improvements	46,554
Total	73,635
Accumulated Depreciation	$ 3,965
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, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Land and Buildings and Improvements
Balance at beginning of period	$ 5,127,448	$ 5,903,906	$ 6,165,296
Add: Acquisitions	0	0	0
Add: Improvements	52,936	91,129	109,403
Less: Disposition of properties	(6,075)	(854,087)	(370,793)
Less: Impairment loss	0	(13,500)	0
Balance at end of period	5,174,309	5,127,448	5,903,906
Reconciliation of Accumulated Depreciation
Balance at beginning of period	(706,040)	(759,643)	(628,518)
Add: Depreciation for the period	(125,494)	(131,442)	(143,215)
Less: Disposition of properties	3,726	185,045	12,090
Balance at end of period	$ (827,808)	$ (706,040)	$ (759,643)