Apple Hospitality REIT (APLE) 10-Q 5 Nov 20 2020 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Nov. 02, 2020
Cover [Abstract]
Entity Registrant Name	APPLE HOSPITALITY REIT, INC.
Trading Symbol	APLE
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		223,266,007
Amendment Flag	false
Entity Central Index Key	0001418121
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-37389
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	26-1379210
Entity Address, Address Line One	814 East Main Street
Entity Address, City or Town	Richmond
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23219
City Area Code	(804)
Local Phone Number	344-8121
Title of 12(b) Security	Common Shares, no par value
Security Exchange Name	NYSE
Entity Interactive Data Current	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Assets
Investment in real estate, net of accumulated depreciation and amortization of $1,196,245 and $1,054,429, respectively	$ 4,793,945	$ 4,825,738
Assets held for sale	0	12,093
Cash and cash equivalents	27,435	0
Restricted cash-furniture, fixtures and other escrows	28,184	34,661
Due from third party managers, net	29,969	26,926
Other assets, net	36,887	42,993
Total Assets	4,916,420	4,942,411
Liabilities
Debt, net	1,508,939	1,320,407
Finance lease liabilities	218,935	216,627
Accounts payable and other liabilities	113,542	114,364
Total Liabilities	1,841,416	1,651,398
Shareholders' Equity
Preferred stock, authorized 30,000,000 shares; none issued and outstanding	0	0
Common stock, no par value, authorized 800,000,000 shares; issued and outstanding 223,230,937 and 223,862,913 shares, respectively	4,488,288	4,493,763
Accumulated other comprehensive loss	(48,320)	(4,698)
Distributions greater than net income	(1,364,964)	(1,198,052)
Total Shareholders' Equity	3,075,004	3,291,013
Total Liabilities and Shareholders' Equity	$ 4,916,420	$ 4,942,411

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Investment in real estate accumulated depreciation (in Dollars)	$ 1,196,245	$ 1,054,429
Preferred stock, shares authorized	30,000,000	30,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares authorized	800,000,000	800,000,000
Common stock, shares issued	223,230,937	223,862,913
Common stock, shares outstanding	223,230,937	223,862,913

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues:
Total revenue	$ 148,826	$ 331,722	$ 467,914	$ 976,626
Expenses:
Total hotel operating expense	93,762	187,593	310,845	550,232
Property taxes, insurance and other	20,523	19,611	58,820	58,470
General and administrative	6,726	9,039	22,274	25,484
Loss on impairment of depreciable real estate assets	0	6,467	4,382	6,467
Depreciation and amortization	50,171	47,887	149,590	143,946
Total expense	171,182	270,597	545,911	784,599
Gain on sale of real estate	0	0	8,785	1,052
Operating income (loss)	(22,356)	61,125	(69,212)	193,079
Interest and other expense, net	(18,531)	(14,759)	(52,483)	(46,110)
Income (loss) before income taxes	(40,887)	46,366	(121,695)	146,969
Income tax expense	(61)	(143)	(265)	(505)
Net income (loss)	(40,948)	46,223	(121,960)	146,464
Other comprehensive income (loss):
Interest rate derivatives	2,739	(4,193)	(43,622)	(20,357)
Comprehensive income (loss)	$ (38,209)	$ 42,030	$ (165,582)	$ 126,107
Basic and diluted net income (loss) per common share (in Dollars per share)	$ (0.18)	$ 0.21	$ (0.55)	$ 0.65
Weighted average common shares outstanding - basic and diluted (in Shares)	223,293	223,901	223,620	223,911
Room [Member]
Revenues:
Total revenue	$ 140,116	$ 307,293	$ 434,923	$ 901,995
Food and Beverage [Member]
Revenues:
Total revenue	2,235	14,079	14,386	44,786
Other [Member]
Revenues:
Total revenue	6,475	10,350	18,605	29,845
Direct Operating [Member]
Expenses:
Total hotel operating expense	33,124	80,717	120,860	236,463
Hotel Administrative [Member]
Expenses:
Total hotel operating expense	16,625	25,991	54,079	78,588
Sales and Marketing [Member]
Expenses:
Total hotel operating expense	13,728	29,764	47,517	88,289
Utilities [Member]
Expenses:
Total hotel operating expense	9,967	11,635	25,465	31,135
Repair and Maintenance [Member]
Expenses:
Total hotel operating expense	8,842	13,430	26,983	39,337
Royalty [Member]
Expenses:
Total hotel operating expense	6,603	14,508	20,516	42,371
Management Service [Member]
Expenses:
Total hotel operating expense	$ 4,873	$ 11,548	$ 15,425	$ 34,049

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Distributions Greater Than Net Income [Member]	Distributions Greater Than Net Income [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]
Balance at Dec. 31, 2018	$ 3,409,010	$ (5,201)	$ 4,495,073	$ 10,006	$ (1,096,069)	$ (5,201)
Balance (in Shares) at Dec. 31, 2018			223,997,000
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member
Share based compensation, net	$ 2,860		$ 2,860
Share based compensation, net (in Shares)			149,000
Common shares repurchased	$ (4,335)		$ (4,335)
Common shares repurchased (in Shares)	(300,000)		(290,000)
Interest rate derivatives	$ (20,357)			(20,357)
Net income (loss)	146,464				146,464
Distributions declared to shareholders	(201,505)				(201,505)
Balance at Sep. 30, 2019	3,326,936		$ 4,493,598	(10,351)	(1,156,311)
Balance (in Shares) at Sep. 30, 2019			223,856,000
Balance at Jun. 30, 2019	3,352,068		$ 4,493,598	(6,158)	(1,135,372)
Balance (in Shares) at Jun. 30, 2019			223,869,000
Share based compensation, net	239		$ 239
Share based compensation, net (in Shares)			3,000
Common shares repurchased	(239)		$ (239)
Common shares repurchased (in Shares)			(16,000)
Interest rate derivatives	(4,193)			(4,193)
Net income (loss)	46,223				46,223
Distributions declared to shareholders	(67,162)				(67,162)
Balance at Sep. 30, 2019	3,326,936		$ 4,493,598	(10,351)	(1,156,311)
Balance (in Shares) at Sep. 30, 2019			223,856,000
Balance at Dec. 31, 2019	3,291,013		$ 4,493,763	(4,698)	(1,198,052)
Balance (in Shares) at Dec. 31, 2019			223,863,000
Share based compensation, net	9,198		$ 9,198
Share based compensation, net (in Shares)			889,000
Equity issuance costs	(337)		$ (337)
Common shares repurchased	$ (14,336)		$ (14,336)
Common shares repurchased (in Shares)	(1,500,000)		(1,521,000)
Interest rate derivatives	$ (43,622)			(43,622)
Net income (loss)	(121,960)				(121,960)
Distributions declared to shareholders	(44,952)				(44,952)
Balance at Sep. 30, 2020	3,075,004		$ 4,488,288	(48,320)	(1,364,964)
Balance (in Shares) at Sep. 30, 2020			223,231,000
Balance at Jun. 30, 2020	3,112,959		$ 4,488,034	(51,059)	(1,324,016)
Balance (in Shares) at Jun. 30, 2020			223,224,000
Share based compensation, net	591		$ 591
Share based compensation, net (in Shares)			7,000
Equity issuance costs	$ (337)		$ (337)
Common shares repurchased (in Shares)	0
Interest rate derivatives	$ 2,739			2,739
Net income (loss)	(40,948)				(40,948)
Balance at Sep. 30, 2020	$ 3,075,004		$ 4,488,288	$ (48,320)	$ (1,364,964)
Balance (in Shares) at Sep. 30, 2020			223,231,000

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parentheticals) - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement Of Stockholders Equity [Abstract]
Distributions declared to shareholders	$ 0.30	$ 0.20	$ 0.90

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Jan. 31, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Cash flows from operating activities:
Net income (loss)		$ (40,948)	$ 46,223	$ (121,960)	$ 146,464
Adjustments to reconcile net income (loss) to cash provided by operating activities:
Depreciation and amortization		50,171	47,887	149,590	143,946
Loss on impairment of depreciable real estate assets		0	6,467	4,382	6,467
Gain on sale of real estate		0	0	(8,785)	(1,052)
Other non-cash expenses, net				6,055	2,915
Changes in operating assets and liabilities:
Increase in due from third party managers, net				(3,037)	(11,356)
Increase in other assets, net				(1,627)	(4,387)
Increase in accounts payable and other liabilities				1,581	8,521
Net cash provided by operating activities				26,199	291,518
Cash flows from investing activities:
Acquisition of hotel properties, net				(88,687)	(52,407)
Refunds (payments) for potential acquisitions, net				585	(1,529)
Capital improvements				(44,383)	(51,608)
Net proceeds from sale of real estate				44,385	95,029
Net cash used in investing activities				(88,100)	(10,515)
Cash flows from financing activities:
Repurchases of common shares				(14,336)	(4,335)
Repurchases of common shares to satisfy employee withholding requirements				(1,748)	(491)
Distributions paid to common shareholders	$ (22,400)			(67,324)	(201,497)
Equity issuance costs				(247)
Net proceeds from (payments on) revolving credit facility				78,800	(117,300)
Proceeds from term loans and senior notes				50,000	75,000
Proceeds from mortgage debt and other loans				81,520
Payments of mortgage debt and other loans				(41,523)	(30,468)
Financing costs				(2,283)	(257)
Net cash provided by (used in) financing activities				82,859	(279,348)
Net change in cash, cash equivalents and restricted cash				20,958	1,655
Cash, cash equivalents and restricted cash, beginning of period	34,661			34,661	33,632	$ 33,632
Cash, cash equivalents and restricted cash, end of period		55,619	35,287	55,619	35,287	34,661
Supplemental cash flow information:
Interest paid				46,737	45,554
Supplemental disclosure of noncash investing and financing activities:
Notes payable originated from acquisitions				20,551
Accrued distribution to common shareholders			22,384		22,384
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents, beginning of period	0			0
Restricted cash-furniture, fixtures and other escrows, beginning of period	34,661			34,661	33,632	33,632
Cash, cash equivalents and restricted cash, beginning of period	$ 34,661			34,661	33,632	33,632
Cash and cash equivalents, end of period		27,435		27,435		0
Restricted cash-furniture, fixtures and other escrows, end of period		28,184	35,287	28,184	35,287	34,661
Cash, cash equivalents and restricted cash, end of period		$ 55,619	$ 35,287	$ 55,619	$ 35,287	$ 34,661

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Organization and Summary of Significant Accounting Policies	1. Organization and Summary of Significant Accounting Policies Organization Apple Hospitality REIT, Inc., together with its wholly-owned subsidiaries (the “Company”), is a Virginia corporation that has elected to be treated as a real estate investment trust (“REIT”) for federal income tax purposes. The Company is a self-advised REIT that invests in income-producing real estate, primarily in the lodging sector, in the United States (“U.S.”). The Company’s fiscal year end is December 31. The Company has no foreign operations or assets and its operating structure includes only one reportable segment. The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated. Although the Company has interests in potential variable interest entities through its purchase commitments, it is not the primary beneficiary as the Company does not have any elements of power in the decision-making process of these entities, and therefore does not consolidate the entities. As of September 30, 2020, the Company owned 235 hotels with an aggregate of 30,023 rooms located in 34 states. The Company’s common shares are listed on the New York Stock Exchange (“NYSE”) under the ticker symbol “APLE.” Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with the rules and regulations for reporting on Form 10-Q. Accordingly, they do not include all of the information required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. These unaudited financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 Form 10-K”). Operating results for the three and nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the twelve month period ending December 31, 2020. Use of Estimates The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Novel Coronavirus COVID-19 Pandemic As a result of the current novel coronavirus COVID-19 pandemic (“COVID-19”) and the impact it has had on travel and the broader economy throughout the U.S., the Company’s hotels have experienced significant declines in occupancy, which has had and is expected to continue to have a significant negative effect on the Company’s revenue and operating results. There remains significant uncertainty as to when operations at the hotels will return to normalized levels. As of September 30, 2020, although each of the Company’s hotels were open and receiving reservations, the Company continued to intentionally consolidate operations for eight hotels in market clusters to maximize operational efficiencies. Cash and Cash Equivalents Cash and cash equivalents include highly liquid investments with original maturities of three months or less. The fair market value of cash and cash equivalents approximates their carrying value. The Company’s cash and cash equivalents are distributed among several major banks, but the balances may at times exceed federal depository insurance limits. Investment in Real Estate The Company monitors its properties on an ongoing basis by analytically reviewing financial performance and considers each property individually for purposes of reviewing for indicators of impairment. The Company considered COVID-19 as a potential indicator of impairment and as a result of the impact on the Company’s operating results for the three and nine months ended September 30, 2020, the Company performed recoverability analyses for each of its properties consistent with its annual process. The analyses compared each property’s net book value to its estimated operating income based on assumptions and estimates about the property’s future revenues, expenses and capital expenditures after recovery from disruption resulting from COVID-19 and other disruptive events such as renovations or newly opened hotels in the same market. If events or circumstances change, such as the Company’s intended hold period for a property or if the operating performance of a property remains at current levels or declines substantially for an extended period of time, the Company’s carrying value for a particular property may not be recoverable, and an impairment loss will be recorded. Impairment losses are measured as the difference between the asset’s fair value and its carrying value. The Company’s recoverability analyses did not identify any impairment losses for the three and nine months ended September 30, 2020 and 2019. However, the Company recorded a loss on impairment of one property during the nine months ended September 30, 2020 totaling approximately $4.4 million, as discussed in Note 3. Net Income (Loss) Per Common Share Basic net income (loss) per common share is computed based upon the weighted average number of shares outstanding during the period. Diluted net income (loss) per common share is calculated after giving effect to all potential common shares that were dilutive and outstanding for the period. Basic and diluted net income (loss) per common share were the same for each of the periods presented. Reclassifications Certain prior period amounts in the consolidated financial statements have been reclassified to conform to the current period presentation with no effect on previously reported net income or shareholders’ equity. Accounting Standards Recently Adopted In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2018-13, Fair Value Measurement (Topic 820), Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement In March 2020 Reference Rate Reform (Topic 848)

Investment in Real Estate

Investment in Real Estate	9 Months Ended
	Sep. 30, 2020
Real Estate [Abstract]
Investment in Real Estate	2. Investment in Real Estate The Company’s investment in real estate consisted of the following (in thousands): September 30, December 31, 2020 2019 Land $ 726,943 $ 724,054 Building and Improvements 4,542,214 4,458,383 Furniture, Fixtures and Equipment 503,643 486,386 Finance Ground Lease Assets 203,617 197,617 Franchise Fees 13,773 13,727 5,990,190 5,880,167 Less Accumulated Depreciation and Amortization (1,196,245 ) (1,054,429 ) Investment in Real Estate, net $ 4,793,945 $ 4,825,738 As of September 30, 2020, the Company owned 235 hotels with an aggregate of 30,023 rooms located in 34 states. The Company leases all of its hotels to its wholly-owned taxable REIT subsidiary (or a subsidiary thereof) under master hotel lease agreements. Hotel Acquisitions The Company acquired four hotels during the nine months ended September 30, 2020. The following table sets forth the location, brand, manager, date acquired, number of rooms and gross purchase price, excluding transaction costs, for each hotel. All dollar amounts are in thousands. City State Brand Manager Date Acquired Rooms Gross Purchase Price Cape Canaveral FL Hampton LBA 4/30/2020 116 $ 24,102 Cape Canaveral FL Home2 Suites LBA 4/30/2020 108 22,602 Tempe AZ Hyatt House Crestline 8/13/2020 105 26,309 Tempe AZ Hyatt Place Crestline 8/13/2020 154 38,279 483 $ 111,292 During the year ended December 31, 2019, the Company acquired three hotels, including two hotels during the nine months ended September 30, 2019. The following table sets forth the location, brand, manager, date acquired, number of rooms and gross purchase price, excluding transaction costs, for each hotel. All dollar amounts are in thousands. City State Brand Manager Date Acquired Rooms Gross Purchase Price St. Paul MN Hampton Vista Host 3/4/2019 160 $ 31,680 Orlando FL Home2 Suites LBA 3/19/2019 128 20,736 Richmond VA Independent Crestline 10/9/2019 55 6,875 343 $ 59,291 The Company utilized $25.0 million of its available cash and entered into a one-year Hotel Purchase Contract Commitments As of September 30, 2020, the Company had one outstanding contract, which was entered into prior to 2020, for the potential purchase of a hotel in Madison, Wisconsin for an expected purchase price of approximately $49.6 million. The hotel is expected to be branded as a Hilton Garden Inn with 176 rooms and a $0.3 million refundable contract deposit (if the seller does not meet its obligations under the contract) has been paid. The hotel is under development and is planned to be completed and opened for business within the next six months from September 30, 2020, at which time closing on this hotel is expected to occur. Although the Company is working towards acquiring this hotel, there are a number of conditions to closing that have not yet been satisfied and there can be no assurance that closing on this hotel will occur under the outstanding purchase contract. If the seller meets all of the conditions to closing, the Company is obligated to specifically perform under this contract. As the property is under development, at this time, the seller has not met all of the conditions to closing. The Company plans to utilize its available cash or borrowings under its unsecured credit facilities available at closing to purchase the hotel under contract if closing occurs. Additionally, as of December 31, 2019, the Company had an outstanding contract to purchase a Courtyard hotel in Denver, Colorado, which it terminated in May 2020. The refundable deposit of approximately $0.6 million associated with the contract was repaid to the Company.

Dispositions and Hotel Sale Con

Dispositions and Hotel Sale Contracts	9 Months Ended
	Sep. 30, 2020
Discontinued Operations And Disposal Groups [Abstract]
Dispositions and Hotel Sale Contracts	3. Dispositions and Hotel Sale Contracts Dispositions During the nine months ended September 30, 2020, the Company sold two hotels in two transactions with unrelated parties for a total combined gross sales price of approximately $45.0 million, resulting in a combined gain on sale of approximately $8.8 million, net of transaction costs, which is included in the Company’s consolidated statement of operations for the nine months ended September 30, 2020. The two hotels had a total carrying value of approximately $35.7 million at the time of sale. The following table lists the two hotels sold: City State Brand Date Sold Rooms Sanford FL SpringHill Suites 1/16/2020 105 Boise ID SpringHill Suites 2/27/2020 230 Total 335 During the year ended December 31, 2019, the Company sold 11 hotels in three transactions with unrelated parties for a total combined gross sales price of approximately $121.7 million, resulting in a combined gain on sale of approximately $5.6 million, which is included in the Company’s consolidated statement of operations for the year ended December 31, 2019. The 11 hotels had a total carrying value of approximately $115.1 million at the time of the sale. The following table lists the 11 hotels sold: City State Brand Date Sold Rooms Sarasota FL Homewood Suites 3/28/2019 100 Tampa FL TownePlace Suites 3/28/2019 94 Baton Rouge LA SpringHill Suites 3/28/2019 119 Holly Springs NC Hampton 3/28/2019 124 Duncanville TX Hilton Garden Inn 3/28/2019 142 Texarkana TX Courtyard 3/28/2019 90 Texarkana TX TownePlace Suites 3/28/2019 85 Bristol VA Courtyard 3/28/2019 175 Harrisonburg VA Courtyard 3/28/2019 125 Winston-Salem NC Courtyard 12/19/2019 122 Fort Lauderdale FL Hampton 12/30/2019 109 Total 1,285 Excluding gains on sale of real estate, the Company’s consolidated statements of operations include operating income (loss) of approximately $0.1 million and $(2.0) million for the nine months ended September 30, 2020 and 2019, respectively, relating to the results of operations of the 13 hotels noted above (the two hotels sold in the first nine months of 2020 and the 11 hotels sold in 2019) for the period of ownership. The sale of these properties does not represent a strategic shift that has, or will have, a major effect on the Company’s operations and financial results, and therefore the operating results for the period of ownership of these properties are included in income from continuing operations for the nine months ended September 30, 2020 and 2019. The net proceeds from the sales were used to pay down borrowings on the Company’s revolving credit facility. Hotel Sale Contracts and Loss on Impairment of Depreciable Real Estate Assets In June 2020, the Company entered into a purchase and sale agreement with an unrelated party for the sale of its 140-room Memphis, Tennessee Homewood Suites for a gross sales price of approximately $9.0 million. As a result, the Company recognized an impairment loss of approximately $4.4 million in the second quarter of 2020, representing the difference between the carrying value of the hotel and the contracted sales price, net of estimated selling costs, which is a Level 1 input under the fair value hierarchy. The contract was terminated in October 2020.

Debt

Debt	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Debt	4. Debt Summary As of September 30, 2020, and December 31, 2019, the Company’s debt consisted of the following (in thousands): September 30, 2020 December 31, 2019 Revolving credit facility $ 129,700 $ 50,900 Term loans and senior notes, net 863,813 813,934 Mortgage debt, net 515,426 455,573 Debt, net $ 1,508,939 $ 1,320,407 The aggregate amounts of principal payable under the Company’s total debt obligations as of September 30, 2020 (including the revolving credit facility, term loans, senior notes and mortgage debt), for the five years subsequent to September 30, 2020 and thereafter are as follows (in thousands): 2020 (October - December) $ 2,745 2021 70,724 2022 239,531 2023 296,213 2024 338,597 Thereafter 567,405 1,515,215 Unamortized fair value adjustment of assumed debt 1,850 Unamortized debt issuance costs (8,126 ) Total $ 1,508,939 The Company uses interest rate swaps to manage its interest rate risks on a portion of its variable-rate debt. Throughout the terms of these interest rate swaps, the Company pays a fixed rate of interest and receives a floating rate of interest equal to one-month LIBOR. The swaps are designed to effectively fix the interest payments on variable-rate debt instruments. See Note 5 for more information on the interest rate swap agreements. The Company’s total fixed-rate and variable-rate debt, after giving effect to its interest rate swaps in effect at September 30, 2020 and December 31, 2019, is set forth below. All dollar amounts are in thousands. September 30, 2020 Percentage December 31, 2019 Percentage Fixed-rate debt (1) $ 1,289,964 85 % $ 1,297,467 98 % Variable-rate debt 225,251 15 % 28,400 2 % Total $ 1,515,215 $ 1,325,867 Weighted-average interest rate of debt 3.82 % 3.59 % (1) Fixed-rate debt includes the portion of variable-rate debt where the interest payments have been effectively fixed by interest rate swaps as of the respective balance sheet date. See Note 5 Credit Facilities Credit Facilities Amendments As a result of COVID-19 and the associated disruption to the Company’s operating results, the Company anticipated that it may not be able to maintain compliance with certain covenants under each of its unsecured credit facilities in future periods. As a result, on June 5, 2020, the Company entered into amendments to each of the unsecured credit facilities. The amendments suspend the testing of the Company’s existing financial maintenance covenants under the unsecured credit facilities until the date the compliance certificate is required to be delivered for the fiscal quarter ending June 30, 2021 (unless the Company elects an earlier date) (the “Covenant Waiver Period”), and provide for, among other restrictions, the following during the Covenant Waiver Period: ● Mandatory prepayments of amounts outstanding under the Company’s unsecured credit facilities of net cash proceeds from certain debt and equity issuances and asset dispositions, subject to various exceptions. A portion of the mandatory prepayments will be available for future borrowing under the revolving credit facility; ● A minimum liquidity covenant of $ 100 million; ● A requirement to pledge the equity interests of each direct or indirect owner of certain unencumbered property in favor of the administrative agents if average liquidity for any month is less than $275 million or the total amount outstanding under the revolving credit facility exceeds $275 million; ● Restrictions on the Company’s and its subsidiaries’ ability to incur additional indebtedness or prepay certain existing indebtedness; ● Restrictions on the Company’s ability to make cash distributions (except to the extent required to maintain REIT status) and share repurchases; ● Maximum discretionary capital expenditures of $50 million; ● Limitations on additional investments; and ● An increase in the applicable interest rate under the unsecured credit facilities until the end of the Covenant Waiver Period to a rate that corresponds to the highest leverage-based applicable interest rate margin with respect to the unsecured credit facilities. The amendments also modify the calculation of the existing financial covenants for the four quarters subsequent to the end of the Covenant Waiver Period to annualize calculated amounts to the extent the most recently ended fiscal quarter is not at least four fiscal quarters from the end of the Covenant Waiver Period, and provide for an increase in the LIBOR floor under the credit agreements from 0 to 25 basis points for Eurodollar Rate Loans and establish a Base Rate floor of 1.25% on the revolving credit facility, and any term loans under the credit agreements that are not hedged. Except as otherwise set forth in the amendments, the terms of the credit agreements remain in effect. The credit agreements governing the unsecured credit facilities contain mandatory prepayment requirements, customary affirmative and negative covenants, restrictions on certain investments and events of default. The credit agreements contain the following financial and restrictive covenants, each of which are suspended during the Covenant Waiver Period (capitalized terms are defined in the credit agreements). ● A ratio of Consolidated Total Indebtedness to Consolidated EBITDA of not more than 6.50 to 1.00 (subject to a higher amount in certain circumstances); ● A ratio of Consolidated Secured Indebtedness to Consolidated Total Assets of not more than 45%; ● A minimum Consolidated Tangible Net Worth of approximately $3.2 billion (plus an amount equal to 75% of the Net Cash Proceeds from issuances and sales of Equity Interests occurring after the Closing Date, subject to adjustment); ● A ratio of Adjusted Consolidated EBITDA to Consolidated Fixed Charges of not less than 1.50 to 1.00 for the trailing four full quarters; ● A ratio of Unencumbered Adjusted NOI to Consolidated Implied Interest Expense for Consolidated Unsecured Indebtedness of not less than 2.00 to 1.00 for the trailing four full quarters; ● A ratio of Consolidated Unsecured Indebtedness to Unencumbered Asset Value of not more than 60% (subject to a higher level in certain circumstances); and ● A ratio of Consolidated Secured Recourse Indebtedness to Consolidated Total Assets of not more than 10%. As of September 30, 2020, the Company was in compliance with the applicable covenants of the credit agreements as amended. $850 Million Credit Facility The Company utilizes an unsecured “$850 million credit facility” comprised of (i) a $425 million revolving credit facility with an initial maturity date of July 27, 2022 and (ii) a $425 million term loan facility consisting of two term loans: a $200 million term loan with a maturity date of July 27, 2023, and a $225 million term loan with a maturity date of January 31, 2024 (the “$425 million term loan facility”). Subject to certain conditions including covenant compliance and additional fees, the $425 million revolving credit facility maturity date may be extended up to one year. The Company may make voluntary prepayments in whole or in part, at any time. Interest payments on the $850 million credit facility are due monthly and the interest rate, subject to certain exceptions, is equal to an annual rate of the one-month LIBOR plus a margin ranging from 1.35% to 2.25%, depending upon the Company’s leverage ratio, as calculated under the terms of the credit agreement. As of September 30, 2020, the Company had corporate cash on hand of $27.4 million and availability of $295.3 million under the revolving credit facility. The Company is also required to pay quarterly an unused facility fee at an annual rate of 0.20% or 0.25% on the unused portion of the $425 million revolving credit facility, based on the amount of borrowings outstanding during the quarter. $225 Million Term Loan Facility The Company has an unsecured $225 million term loan facility that is comprised of (i) a $50 million term loan with a maturity date of August 2, 2023, which was funded on August 2, 2018, and (ii) a $175 million term loan with a maturity date of August 2, 2025, of which $100 million was funded on August 2, 2018 and the remaining $75 million was funded on January 29, 2019. The credit agreement contains requirements and covenants similar to the Company’s $850 million credit facility. The Company may make voluntary prepayments in whole or in part, at any time, subject to certain conditions. Interest payments on the $225 million term loan facility are due monthly and the interest rate, subject to certain exceptions, is equal to an annual rate of the one-month LIBOR plus a margin ranging from 1.35% to 2.50%, depending upon the Company’s leverage ratio, as calculated under the terms of the credit agreement. 2017 $85 Million Term Loan Facility On July 25, 2017, the Company entered into an unsecured $85 million term loan facility with a maturity date of July 25, 2024, consisting of one term loan that was funded at closing (the “2017 $85 million term loan facility”). The credit agreement, as amended and restated in August 2018, contains requirements and covenants similar to the Company’s $850 million credit facility. The Company may make voluntary prepayments in whole or in part, at any time, subject to certain conditions. Interest payments on the 2017 $85 million term loan facility are due monthly. In July 2019, the Company entered into an amendment of the 2017 $85 million term loan facility to reduce the interest rate margin from 1.80% - 2.60% to 1.30% - 2.10%, depending upon the Company’s leverage ratio, as calculated under the terms of the credit agreement, for the remainder of the term. 2019 $85 Million Term Loan Facility On December 31, 2019, the Company entered into an unsecured $85 million term loan facility with a maturity date of December 31, 2029, consisting of one term loan funded at closing (the “2019 $85 million term loan facility”). Net proceeds from the 2019 $85 million term loan facility were used to pay down borrowings on the Company’s revolving credit facility. The credit agreement contains requirements and covenants similar to the Company’s $850 million credit facility. The Company may make voluntary prepayments in whole or in part, subject to certain conditions. Interest payments on the 2019 $85 million term loan facility are due monthly and the interest rate, subject to certain exceptions, is equal to an annual rate of the one-month LIBOR plus a margin ranging from 1.70% to 2.55%, depending upon the Company’s leverage ratio, as calculated under the terms of the credit agreement. $50 Million Senior Notes Facility On March 16, 2020, the Company entered into an unsecured $50 million senior notes facility with a maturity date of March 31, 2030, consisting of senior notes totaling $50 million funded at closing (the “$50 million senior notes facility” and, collectively with the $850 million credit facility, the $225 million term loan facility, the 2017 $85 million term loan facility and the 2019 $85 million term loan facility, the “unsecured credit facilities”). Net proceeds from the $50 million senior notes facility are available to provide funding for general corporate purposes. The note agreement contains requirements and covenants similar to the Company’s $850 million credit facility. The Company may make voluntary prepayments in whole or in part, at any time, subject to certain conditions, including make-whole provisions. Interest payments on the $50 million senior notes facility are due quarterly and the interest rate, subject to certain exceptions, ranges from an annual rate of 3.60% to 4.35% depending on the Company’s leverage ratio, as calculated under the terms of the facility. As of September 30, 2020 and December 31, 2019, the details of the Company’s unsecured credit facilities were as set forth below. All dollar amounts are in thousands. Outstanding Balance Interest Rate Maturity Date September 30, 2020 December 31, 2019 Revolving credit facility (1) LIBOR + 1.40% - 2.25% 7/27/2022 $ 129,700 $ 50,900 Term loans and senior notes $200 million term loan LIBOR + 1.35% - 2.20% 7/27/2023 200,000 200,000 $225 million term loan LIBOR + 1.35% - 2.20% 1/31/2024 225,000 225,000 $50 million term loan LIBOR + 1.35% - 2.20% 8/2/2023 50,000 50,000 $175 million term loan LIBOR + 1.65% - 2.50% 8/2/2025 175,000 175,000 2017 $85 million term loan LIBOR + 1.30% - 2.10% 7/25/2024 85,000 85,000 2019 $85 million term loan LIBOR + 1.70% - 2.55% 12/31/2029 85,000 85,000 $50 million senior notes 3.60% - 4.35% 3/31/2030 50,000 - Term loans and senior notes at stated value 870,000 820,000 Unamortized debt issuance costs (6,187 ) (6,066 ) Term loans and senior notes, net 863,813 813,934 Credit facilities, net (1) $ 993,513 $ 864,834 Weighted-average interest rate (2) 3.61 % 3.14 % (1) Excludes unamortized debt issuance costs related to the revolving credit facility totaling approximately $2.4 million and $2.6 million as of September 30, 2020 December 31, 2019 (2) Interest rate represents the weighted-average effective annual interest rate at the balance sheet date which includes the effect of interest rate swaps in effect on $745.0 million and $842.5 million of the outstanding variable-rate debt as of September 30, 2020 December 31, 2019 September 30, 2020 December 31, 2019 Mortgage Debt As of September 30, 2020, the Company had approximately $516 million in outstanding mortgage debt secured by 33 properties with maturity dates ranging from April 2021 to May 2038. Mortgages secured by 31 of the properties carry fixed stated interest rates ranging from 3.40% to 6.25% and effective interest rates ranging from 3.40% to 4.97%. Additionally, one loan secured by the two newly acquired Cape Canaveral properties carries a variable interest rate of one-month LIBOR plus 2.00% through October 31, 2020 and one-month LIBOR plus 3.00% from November 1, 2020 through April 30, 2021. The loans generally provide for monthly payments of principal and interest on an amortized basis and defeasance or prepayment penalties if prepaid. As a result of the effects of the COVID-19 pandemic on certain hotels, the associated lenders granted temporary deferrals of principal and interest payments. The following table sets forth the hotel properties securing each loan, the interest rate, loan assumption or origination date, maturity date, the principal amount assumed or originated, and the outstanding balance prior to any fair value adjustments or debt issuance costs as of September 30, 2020 and December 31, 2019 for each of the Company’s mortgage debt obligations. All dollar amounts are in thousands. Location Brand Interest Rate (1) Loan Assumption or Origination Date Maturity Date Principal Assumed or Originated Outstanding balance as of September 30, 2020 Outstanding balance as of December 31, 2019 San Juan Capistrano, CA Residence Inn 4.15 % 9/1/2016 (2 ) $ 16,210 $ - $ 15,073 Cape Canaveral, FL Hampton (3 ) 4/30/2020 4/30/2021 10,852 10,275 - Cape Canaveral, FL Home2 Suites (3 ) 4/30/2020 4/30/2021 10,852 10,275 - Colorado Springs, CO Hampton 6.25 % 9/1/2016 7/6/2021 7,923 7,357 7,471 Franklin, TN Courtyard 6.25 % 9/1/2016 8/6/2021 14,679 13,637 13,847 Franklin, TN Residence Inn 6.25 % 9/1/2016 8/6/2021 14,679 13,637 13,847 Grapevine, TX Hilton Garden Inn 4.89 % 8/29/2012 9/1/2022 11,810 9,522 9,775 Collegeville/Philadelphia, PA Courtyard 4.89 % 8/30/2012 9/1/2022 12,650 10,199 10,471 Hattiesburg, MS Courtyard 5.00 % 3/1/2014 9/1/2022 5,732 4,772 4,897 Kirkland, WA Courtyard 5.00 % 3/1/2014 9/1/2022 12,145 10,110 10,376 Rancho Bernardo/San Diego, CA Courtyard 5.00 % 3/1/2014 9/1/2022 15,060 12,536 12,866 Seattle, WA Residence Inn 4.96 % 3/1/2014 9/1/2022 28,269 23,509 24,130 Anchorage, AK Embassy Suites 4.97 % 9/13/2012 10/1/2022 23,230 18,830 19,324 Somerset, NJ Courtyard 4.73 % 3/1/2014 10/6/2022 8,750 7,246 7,441 Tukwila, WA Homewood Suites 4.73 % 3/1/2014 10/6/2022 9,431 7,810 8,020 Huntsville, AL Homewood Suites 4.12 % 3/1/2014 2/6/2023 8,306 6,808 6,999 Prattville, AL Courtyard 4.12 % 3/1/2014 2/6/2023 6,596 5,406 5,558 San Diego, CA Residence Inn 3.97 % 3/1/2014 3/6/2023 18,600 15,209 15,640 Miami, FL Homewood Suites 4.02 % 3/1/2014 4/1/2023 16,677 13,668 14,051 New Orleans, LA Homewood Suites 4.36 % 7/17/2014 8/11/2024 27,000 22,957 23,513 Westford, MA Residence Inn 4.28 % 3/18/2015 4/11/2025 10,000 8,674 8,876 Denver, CO Hilton Garden Inn 4.46 % 9/1/2016 6/11/2025 34,118 30,623 31,311 Oceanside, CA Courtyard 4.28 % 9/1/2016 10/1/2025 13,655 12,674 12,812 Omaha, NE Hilton Garden Inn 4.28 % 9/1/2016 10/1/2025 22,682 21,052 21,280 Boise, ID Hampton 4.37 % 5/26/2016 6/11/2026 24,000 22,260 22,588 Burbank, CA Courtyard 3.55 % 11/3/2016 12/1/2026 25,564 23,315 23,552 San Diego, CA Courtyard 3.55 % 11/3/2016 12/1/2026 25,473 23,232 23,468 San Diego, CA Hampton 3.55 % 11/3/2016 12/1/2026 18,963 17,295 17,471 Burbank, CA SpringHill Suites 3.94 % 3/9/2018 4/1/2028 28,470 27,078 27,317 Santa Ana, CA Courtyard 3.94 % 3/9/2018 4/1/2028 15,530 14,770 14,901 Richmond, VA Courtyard 3.40 % 2/12/2020 3/11/2030 14,950 14,811 - Richmond, VA Residence Inn 3.40 % 2/12/2020 3/11/2030 14,950 14,811 - Portland, ME Residence Inn 3.43 % 3/2/2020 4/1/2030 33,500 33,500 - San Jose, CA Homewood Suites 4.22 % 12/22/2017 5/1/2038 30,000 27,657 28,092 $ 591,306 515,515 454,967 Unamortized fair value adjustment of assumed debt 1,850 2,526 Unamortized debt issuance costs (1,939 ) (1,920 ) Total $ 515,426 $ 455,573 (1) Interest rates are the rates per the loan agreement. For loans assumed, the Company adjusted the interest rates per the loan agreement to market rates and is amortizing the adjustments to interest expense over the life of the loan. (2) Loan was repaid in full in March 2020. (3) Interest rate is variable based on one-month LIBOR plus 2.00% until October 31, 2020 and one-month LIBOR plus 3.00% from November 1, 2020 through April 30, 2021. As of September 30, 2020 During April and May 2020, the Company applied for and received approximately $18 million in loans under the CARES Act Paycheck Protection Program. Due to subsequent guidance issued by the Small Business Administration and the Department of Treasury, related to the intended participants in this program, the Company repaid all amounts received. The proceeds from these loans are included in “proceeds from mortgage debt and other loans” and the repayments of these loans are included in “payments of mortgage debt and other loans” in the Company’s consolidated statement of cash flows for the nine months ended September 30, 2020. The Company will continue to evaluate relief initiatives and stimulus packages, including any accompanying restrictions on its business that would be imposed by such packages, that may be or become available to the Company under government stimulus programs.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	5. Fair Value of Financial Instruments Except as described below, the carrying value of the Company’s financial instruments approximates fair value due to the short-term nature of these financial instruments. Debt The Company estimates the fair value of its debt by discounting the future cash flows of each instrument at estimated market rates consistent with the maturity of a debt obligation with similar credit terms and credit characteristics, which are Level 3 inputs under the fair value hierarchy. Market rates take into consideration general market conditions and maturity. As of September 30, 2020, both the carrying value and estimated fair value of the Company’s debt were approximately $1.5 billion. As of December 31, 2019, both the carrying value and estimated fair value of the Company’s debt were approximately $1.3 billion Derivative Instruments Currently, the Company uses interest rate swaps to manage its interest rate risks on variable-rate debt. Throughout the terms of these interest rate swaps, the Company pays a fixed rate of interest and receives a floating rate of interest equal to the one-month LIBOR. The swaps are designed to effectively fix the interest payments on variable-rate debt instruments. These swap instruments are recorded at fair value and, if in an asset position, are included in other assets, net, and, if in a liability position, are included in accounts payable and other liabilities in the Company’s consolidated balance sheets. The fair values of the Company’s interest rate swap agreements are determined using the market standard methodology of netting the discounted future fixed cash payments and the discounted expected variable cash receipts, which is considered a Level 2 measurement under the fair value hierarchy. The variable cash receipts are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. The following table sets forth information for each of the Company’s interest rate swap agreements outstanding as of September 30, 2020 and December 31, 2019. All dollar amounts are in thousands. Notional Fair Value Asset (Liability) Amount at September 30, 2020 Origination Date Effective Date Maturity Date Swap Fixed Interest Rate September 30, 2020 December 31, 2019 Interest rate swaps designated as cash flow hedges at September 30, 2020: $ 50,000 4/7/2016 9/30/2016 3/31/2021 1.09% $ (235 ) $ 317 100,000 4/7/2016 9/30/2016 3/31/2023 1.33% (3,023 ) 707 75,000 5/31/2017 7/31/2017 6/30/2024 1.96% (5,098 ) (1,286 ) 10,000 8/10/2017 8/10/2017 6/30/2024 2.01% (699 ) (185 ) 50,000 6/1/2018 1/31/2019 6/30/2025 2.89% (6,422 ) (3,407 ) 50,000 7/2/2019 7/5/2019 7/18/2024 1.65% (2,864 ) (193 ) 50,000 8/21/2019 8/23/2019 8/18/2024 1.32% (2,272 ) 595 50,000 8/21/2019 8/23/2019 8/30/2024 1.32% (2,287 ) 603 85,000 12/31/2019 12/31/2019 12/31/2029 1.86% (10,474 ) (842 ) 25,000 12/6/2018 1/31/2020 6/30/2025 2.75% (3,048 ) (1,501 ) 50,000 12/7/2018 5/18/2020 1/31/2024 2.72% (4,353 ) (2,139 ) 75,000 8/21/2019 5/18/2020 5/18/2025 1.27% (3,730 ) 1,222 75,000 7/31/2020 8/18/2020 8/18/2022 0.13% 1 - 75,000 8/21/2019 5/18/2021 5/18/2026 1.30% (3,816 ) 1,309 820,000 (48,320 ) (4,800 ) Interest rate swaps matured prior to September 30, 2020: 212,500 5/19/2015 5/21/2015 5/18/2020 1.58% - 78 110,000 7/2/2015 7/2/2015 5/18/2020 1.62% - 24 322,500 - 102 $ 1,142,500 $ (48,320 ) $ (4,698 ) The Company assesses, both at inception and on an ongoing basis, the effectiveness of its qualifying cash flow hedges. As of September 30, 2020, all of the 14 unmatured interest rate swap agreements listed above were designated as cash flow hedges. The change in the fair value of the Company’s designated cash flow hedges is recorded to accumulated other comprehensive income (loss), a component of shareholders’ equity in the Company’s consolidated balance sheets. Amounts reported in accumulated other comprehensive income (loss) will be reclassified to interest and other expense, net as interest payments are made or received on the Company’s variable-rate derivatives. The Company estimates that approximately $11.0 million of net unrealized losses included in accumulated other comprehensive loss at September 30, 2020 will be reclassified as an increase to interest and other expense, net within the next 12 months. The following table presents the effect of derivative instruments in cash flow hedging relationships in the Company’s consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2020 and 2019 (in thousands): Net Unrealized Loss Recognized in Other Comprehensive Income (Loss) Net Unrealized Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) to Interest and Other Expense, net Three Months Ended September 30, Three Months Ended September 30, 2020 2019 2020 2019 Interest rate derivatives in cash flow hedging relationships $ 33 $ (3,298 ) $ (2,706 ) $ 895 Net Unrealized Gain (Loss) Recognized in Other Comprehensive Income (Loss) Net Unrealized Gain Reclassified from Accumulated Other Comprehensive Income (Loss) to Interest and Other Expense, net Nine Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Interest rate derivatives in cash flow hedging relationships $ (48,628 ) $ (16,966 ) $ (5,006 ) $ 3,391

Related Parties

Related Parties	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Related Parties	6. Related Parties The Company has, and is expected to continue to engage in, transactions with related parties. These transactions cannot be construed to be at arm’s length and the results of the Company’s operations may be different if these transactions were conducted with non-related parties. There have been no changes to the contracts and relationships discussed in the 2019 Form 10-K. Below is a summary of the significant related party relationships in effect during the nine months ended September 30, 2020 and 2019. Glade M. Knight, Executive Chairman of the Company, owns Apple Realty Group, Inc. (“ARG”), which receives support services from the Company and reimburses the Company for the cost of these services as discussed below. Mr. Knight is also currently a partner and Chief Executive Officer of Energy 11 GP, LLC and Energy Resources 12 GP, LLC, which are the respective general partners of Energy 11, L.P. and Energy Resources 12, L.P., each of which receive support services from ARG. The Company provides support services, including the use of the Company’s employees and corporate office, to ARG and is reimbursed by ARG for the cost of these services. The amounts reimbursed to the Company are based on the actual costs of the services and a good faith estimate of the proportionate amount of time incurred by the Company’s employees on behalf of ARG. Total reimbursed costs allocated by the Company to ARG for both the nine months ended September 30, 2020 and 2019 totaled approximately $0.9 million, and are recorded as a reduction to general and administrative expenses in the Company’s consolidated statements of operations. As part of the cost sharing arrangement, certain day-to-day transactions may result in amounts due to or from the Company and ARG. To efficiently manage cash disbursements, the Company or ARG may make payments for the other company. Under this cash management process, each company may advance or defer up to $1 million at any time. Each quarter, any outstanding amounts are settled between the companies. This process allows each company to minimize its cash on hand and reduces the cost for each company. The amounts outstanding at any point in time are not significant to either of the companies. As of September 30, 2020, and December 31, 2019, total amounts due from ARG for reimbursements under the cost sharing structure totaled approximately $0.3 million and $0.5 million, respectively, and are included in other assets, net in the Company’s consolidated balance sheets. The Company, through a wholly-owned subsidiary, Apple Air Holding, LLC, owns a Learjet used primarily for acquisition, asset management, renovation and investor and public relations purposes. The aircraft is also leased to affiliates of the Company based on third party rates, which leasing activity was not significant during the reporting periods. The Company also utilizes one aircraft, owned through one entity, which is owned by the Company’s Executive Chairman, for acquisition, asset management, renovation and investor and public relations purposes, and reimburses the entity at third party rates. Total costs incurred for the use of the aircraft during the nine months ended September 30, 2020 and 2019 were less than $0.1

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2020
Stockholders Equity Note [Abstract]
Shareholders' Equity	7. Shareholders’ Equity Distributions Subsequent to the distribution paid in March 2020, the Company announced the suspension of its monthly distributions due to the impact of COVID-19 on its operating cash flows. Prior to the suspension of its distributions, the Company’s annual distribution rate, payable monthly, was $1.20 per common share. For the nine months ended September 30, 2020 and 2019, the Company paid distributions of $0.30 and $0.90 per common share for a total of $67.3 million and $201.5 million, respectively. The distributions paid during the nine months ended September 30, 2020 include the distribution paid in January 2020, totaling $22.4 million, that was declared in December 2019, which was included in accounts payable and other liabilities in the Company’s consolidated balance sheet at December 31, 2019. As discussed in Note 4, as a requirement under the June 5, 2020 amendments to its unsecured credit facilities, the Company is restricted in its ability to make distributions during the Covenant Waiver Period, except to the extent required to maintain REIT status. Issuance of Shares On August 12, 2020, the Company entered into an equity distribution agreement pursuant to which the Company may sell, from time to time, up to an aggregate of $300 million of its common shares under an at-the-market offering program (the “ATM Program”). As of September 30, 2020, the Company had not sold any common shares under the ATM Program. The Company plans to use the net proceeds from the sale of these shares to pay down borrowings on its revolving credit facility and, under certain circumstances, to repay proportionally amounts under each of the Company’s revolving credit facility, term loans and senior notes. The Company plans to use the corresponding increased availability under the revolving credit facility for general corporate purposes which may include, among other things, acquisitions of additional properties, the repayment of other outstanding indebtedness, capital expenditures, improvement of properties in its portfolio and working capital. Share Repurchases In May 2020, the Company’s Board of Directors approved an extension of its existing share repurchase program (the “Share Repurchase Program”), authorizing share repurchases up to an aggregate of $345 million. The Share Repurchase Program may be suspended or terminated at any time by the Company and will end in July 2021 if not terminated earlier. During the first nine months of 2020 and 2019, the Company purchased, under its Share Repurchase Program, approximately 1.5 million and 0.3 million of its common shares, respectively, at a weighted-average market purchase price of approximately $9.42 and $14.92 per common share, respectively, for an aggregate purchase price, including commissions, of approximately $14.3 million and $4.3 million, respectively. No shares were repurchased during the second and third quarters of 2020. Repurchases under the Share Repurchase Program have been funded, and the Company intends to fund future purchases, with cash on hand or availability under its unsecured credit facilities. The shares were repurchased under a written trading plan that provided for share repurchases in open market transactions and was intended to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. In March 2020 the Company terminated its written trading plan. As discussed in Note 4, share repurchases are subject to certain restrictions during the Covenant Waiver Period as a condition to the June 5, 2020 amendments to the Company’s unsecured credit facilities.

Compensation Plans

Compensation Plans	9 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Compensation Plans	8. Compensation Plans The Company annually establishes an incentive plan for its executive management. Under the incentive plan for 2020 (the “2020 Incentive Plan”), participants are eligible to receive a bonus based on the achievement of certain 2020 performance measures, consisting of operational performance metrics (including targeted Modified Funds from Operations per share, Comparable Hotels revenue per available room growth and Adjusted Hotel EBITDA Margin growth) and shareholder return metrics (including shareholder return relative to a peer group and total shareholder return, over one-year, two-year and three-year periods). The operational performance metrics are equally weighted and account for 50% of the total target incentive compensation. The shareholder return metrics are weighted 75% for relative shareholder return metrics and 25% for total shareholder return metrics, and account for 50% of the total target incentive compensation. At September 30, 2020, the range of potential aggregate payouts under the 2020 Incentive Plan was $0 - $13.9 million. The range of payout under the 2020 Incentive Plan reflects a voluntary reduction of $0 - $5.2 million of the potential payout to the Company’s Chief Executive Officer in response to the decline in the Company’s operating results due to COVID-19. Based on performance through September 30, 2020, the Company has accrued approximately $4.0 million as a liability for potential executive bonus payments under the 2020 Incentive Plan, which is included in accounts payable and other liabilities in the Company’s consolidated balance sheet as of September 30, 2020. Compensation expense recognized by the Company under the 2020 Incentive Plan is included in general and administrative expenses in the Company’s consolidated statement of operations and totaled approximately $1.5 million and $4.0 million for the three and nine months ended September 30, 2020. Approximately 25% of target awards under the 2020 Incentive Plan, if any, will be paid in cash, and 75% will be issued in stock under the Company’s 2014 Omnibus Incentive Plan, approximately two-thirds of which will vest in December 2020 and one-third of which will vest in December 2021. Based on the Company’s operating and share performance as of September 30, 2020, substantially all of the accrued liability associated with the 2020 Incentive Plan is based on relative shareholder return. If any awards are earned, 100% would be paid in stock, of which 50% would vest in December 2020 and 50% in December 2021. Under the incentive plan for 2019 (the “2019 Incentive Plan”), the Company recorded approximately $ 3.1 million and $ 7.8 million in general and administrative expenses in its consolidated statement of operations for the three and nine months ended September 30, 2019 . During the nine months ended September 30, 2020, the Company accrued expense associated with two separation agreements of approximately $1.25 million each, totaling approximately $2.5 million, in connection with the retirements of the Company’s former Executive Vice President and Chief Operating Officer and the Company’s former Executive Vice President and Chief Financial Officer which amounts were paid in October 2020. The accrued expense was included in accounts payable and other liabilities in the Company’s consolidated balance sheet as of September 30, 2020 and in general and administrative expenses in the Company’s consolidated statement of operations for the nine months ended September 30, 2020. During the nine months ended September 30, 2019, the Company incurred a one-time separation payment of $0.5 million in connection with the retirement of the Company’s Executive Vice President and Chief Legal Officer which, pursuant to the separation and general release agreement executed in March 2019, was paid in April 2019 and was included in general and administrative expenses in the Company’s consolidated statement of operations for the nine months ended September 30, 2019. Share-Based Compensation Awards The following table sets forth information pertaining to the share-based compensation issued under the 2019 Incentive Plan and the incentive plan for 2018 (the “2018 Incentive Plan”). 2019 Incentive Plan 2018 Incentive Plan Period common shares issued First Quarter 2020 First Quarter 2019 Common shares earned under each incentive plan 665,552 156,926 Common shares surrendered on issuance date to satisfy tax withholding obligations 60,616 24,999 Common shares earned and issued under each incentive plan, net of common shares surrendered on issuance date to satisfy tax withholding obligations 604,936 131,927 Closing stock price on issuance date $ 13.01 $ 16.49 Total share-based compensation earned, including the surrendered shares (in millions) $ 8.7 (1) $ 2.6 (2) Of the total common shares earned and issued, total common shares unrestricted at time of issuance 426,553 105,345 Of the total common shares earned and issued, total common shares restricted at time of issuance 178,383 26,582 Restricted common shares vesting date December 11, 2020 December 13, 2019 Common shares surrendered on vesting date to satisfy tax withholding requirements resulting from vesting of restricted common shares n/a 5,502 (1) Of the total 2019 share-based compensation, approximately $7.5 million was recorded as a liability as of December 31, 2019 December 31, 2019 (2) Of the total 2018 share-based compensation, approximately $0.2 million, which vested on December 13, 2019, was recognized as share-based compensation expense proportionately throughout 2019. For the three and nine months ended September 30, 2019, the Company recognized approximately $0.04 million and $0.1 million, respectively, of share-based compensation expense related to restricted share awards. Additionally, in conjunction with the appointment of five new officers of the Company on April 1, 2020, the Company issued to the new officer group a total of approximately 200,000 restricted common shares with an aggregate grant date fair value of approximately $1.8 million. For each grantee, the restricted shares will vest on March 31, 2023 if the individual remains in service of the Company through the date of vesting. The expense associated with the awards will be amortized over the 3-year restriction period. For the three and nine months ended September 30, 2020

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	9. Subsequent Events In October 2020, the Company entered into a purchase and sale agreement with an unrelated party for the sale of its 118-room Charlotte, North Carolina Homewood Suites for a gross sales price of approximately $10.3 million. Although the Company is working towards the sale of this hotel, there are many conditions to closing that have not yet been satisfied and there can be no assurance that a closing on this hotel will occur under the outstanding purchase and sale agreement. If the closing occurs, this sale is expected to be completed within three to six months of September 30, 2020 and the Company expects to recognize a gain upon completion of the sale. The Company expects the net proceeds from the sale to be used to pay down borrowings on the Company’s revolving credit facility.

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Organization	Organization Apple Hospitality REIT, Inc., together with its wholly-owned subsidiaries (the “Company”), is a Virginia corporation that has elected to be treated as a real estate investment trust (“REIT”) for federal income tax purposes. The Company is a self-advised REIT that invests in income-producing real estate, primarily in the lodging sector, in the United States (“U.S.”). The Company’s fiscal year end is December 31. The Company has no foreign operations or assets and its operating structure includes only one reportable segment. The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated. Although the Company has interests in potential variable interest entities through its purchase commitments, it is not the primary beneficiary as the Company does not have any elements of power in the decision-making process of these entities, and therefore does not consolidate the entities. As of September 30, 2020, the Company owned 235 hotels with an aggregate of 30,023 rooms located in 34 states. The Company’s common shares are listed on the New York Stock Exchange (“NYSE”) under the ticker symbol “APLE.”
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with the rules and regulations for reporting on Form 10-Q. Accordingly, they do not include all of the information required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. These unaudited financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 Form 10-K”). Operating results for the three and nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the twelve month period ending December 31, 2020.
Use of Estimates	Use of Estimates The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Novel Coronavirus COVID19 Pandemic	Novel Coronavirus COVID-19 Pandemic As a result of the current novel coronavirus COVID-19 pandemic (“COVID-19”) and the impact it has had on travel and the broader economy throughout the U.S., the Company’s hotels have experienced significant declines in occupancy, which has had and is expected to continue to have a significant negative effect on the Company’s revenue and operating results. There remains significant uncertainty as to when operations at the hotels will return to normalized levels. As of September 30, 2020, although each of the Company’s hotels were open and receiving reservations, the Company continued to intentionally consolidate operations for eight hotels in market clusters to maximize operational efficiencies.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include highly liquid investments with original maturities of three months or less. The fair market value of cash and cash equivalents approximates their carrying value. The Company’s cash and cash equivalents are distributed among several major banks, but the balances may at times exceed federal depository insurance limits.
Investment in Real Estate	Investment in Real Estate The Company monitors its properties on an ongoing basis by analytically reviewing financial performance and considers each property individually for purposes of reviewing for indicators of impairment. The Company considered COVID-19 as a potential indicator of impairment and as a result of the impact on the Company’s operating results for the three and nine months ended September 30, 2020, the Company performed recoverability analyses for each of its properties consistent with its annual process. The analyses compared each property’s net book value to its estimated operating income based on assumptions and estimates about the property’s future revenues, expenses and capital expenditures after recovery from disruption resulting from COVID-19 and other disruptive events such as renovations or newly opened hotels in the same market. If events or circumstances change, such as the Company’s intended hold period for a property or if the operating performance of a property remains at current levels or declines substantially for an extended period of time, the Company’s carrying value for a particular property may not be recoverable, and an impairment loss will be recorded. Impairment losses are measured as the difference between the asset’s fair value and its carrying value. The Company’s recoverability analyses did not identify any impairment losses for the three and nine months ended September 30, 2020 and 2019. However, the Company recorded a loss on impairment of one property during the nine months ended September 30, 2020 totaling approximately $4.4 million, as discussed in Note 3.
Net Income (Loss) Per Common Share	Net Income (Loss) Per Common Share Basic net income (loss) per common share is computed based upon the weighted average number of shares outstanding during the period. Diluted net income (loss) per common share is calculated after giving effect to all potential common shares that were dilutive and outstanding for the period. Basic and diluted net income (loss) per common share were the same for each of the periods presented.
Reclassifications	Reclassifications Certain prior period amounts in the consolidated financial statements have been reclassified to conform to the current period presentation with no effect on previously reported net income or shareholders’ equity.
Accounting Standards Recently Adopted	Accounting Standards Recently Adopted In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2018-13, Fair Value Measurement (Topic 820), Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement In March 2020 Reference Rate Reform (Topic 848)

Investment in Real Estate (Tabl

Investment in Real Estate (Tables)	9 Months Ended
	Sep. 30, 2020
Investment In Real Estate [Line Items]
Schedule of Investment in Real Estate	The Company’s investment in real estate consisted of the following (in thousands): September 30, December 31, 2020 2019 Land $ 726,943 $ 724,054 Building and Improvements 4,542,214 4,458,383 Furniture, Fixtures and Equipment 503,643 486,386 Finance Ground Lease Assets 203,617 197,617 Franchise Fees 13,773 13,727 5,990,190 5,880,167 Less Accumulated Depreciation and Amortization (1,196,245 ) (1,054,429 ) Investment in Real Estate, net $ 4,793,945 $ 4,825,738
2020 Acquisitions [Member]
Investment In Real Estate [Line Items]
Schedule of Hotel Acquisitions	The Company acquired four hotels during the nine months ended September 30, 2020. The following table sets forth the location, brand, manager, date acquired, number of rooms and gross purchase price, excluding transaction costs, for each hotel. All dollar amounts are in thousands. City State Brand Manager Date Acquired Rooms Gross Purchase Price Cape Canaveral FL Hampton LBA 4/30/2020 116 $ 24,102 Cape Canaveral FL Home2 Suites LBA 4/30/2020 108 22,602 Tempe AZ Hyatt House Crestline 8/13/2020 105 26,309 Tempe AZ Hyatt Place Crestline 8/13/2020 154 38,279 483 $ 111,292
2019 Acquisitions [Member]
Investment In Real Estate [Line Items]
Schedule of Hotel Acquisitions	During the year ended December 31, 2019, the Company acquired three hotels, including two hotels during the nine months ended September 30, 2019. The following table sets forth the location, brand, manager, date acquired, number of rooms and gross purchase price, excluding transaction costs, for each hotel. All dollar amounts are in thousands. City State Brand Manager Date Acquired Rooms Gross Purchase Price St. Paul MN Hampton Vista Host 3/4/2019 160 $ 31,680 Orlando FL Home2 Suites LBA 3/19/2019 128 20,736 Richmond VA Independent Crestline 10/9/2019 55 6,875 343 $ 59,291

Dispositions and Hotel Sale C_2

Dispositions and Hotel Sale Contracts (Tables)	9 Months Ended
	Sep. 30, 2020
2020 Dispositions [Member]
Dispositions Tables [Line Items]
Schedule of Hotels Sold	During the nine months ended September 30, 2020, the Company sold two hotels in two transactions with unrelated parties for a total combined gross sales price of approximately $45.0 million, resulting in a combined gain on sale of approximately $8.8 million, net of transaction costs, which is included in the Company’s consolidated statement of operations for the nine months ended September 30, 2020. The two hotels had a total carrying value of approximately $35.7 million at the time of sale. The following table lists the two hotels sold: City State Brand Date Sold Rooms Sanford FL SpringHill Suites 1/16/2020 105 Boise ID SpringHill Suites 2/27/2020 230 Total 335
2019 Dispositions [Member]
Dispositions Tables [Line Items]
Schedule of Hotels Sold	During the year ended December 31, 2019, the Company sold 11 hotels in three transactions with unrelated parties for a total combined gross sales price of approximately $121.7 million, resulting in a combined gain on sale of approximately $5.6 million, which is included in the Company’s consolidated statement of operations for the year ended December 31, 2019. The 11 hotels had a total carrying value of approximately $115.1 million at the time of the sale. The following table lists the 11 hotels sold: City State Brand Date Sold Rooms Sarasota FL Homewood Suites 3/28/2019 100 Tampa FL TownePlace Suites 3/28/2019 94 Baton Rouge LA SpringHill Suites 3/28/2019 119 Holly Springs NC Hampton 3/28/2019 124 Duncanville TX Hilton Garden Inn 3/28/2019 142 Texarkana TX Courtyard 3/28/2019 90 Texarkana TX TownePlace Suites 3/28/2019 85 Bristol VA Courtyard 3/28/2019 175 Harrisonburg VA Courtyard 3/28/2019 125 Winston-Salem NC Courtyard 12/19/2019 122 Fort Lauderdale FL Hampton 12/30/2019 109 Total 1,285

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Tables [Line Items]
Schedule of Future Minimum Debt Payments	The aggregate amounts of principal payable under the Company’s total debt obligations as of September 30, 2020 (including the revolving credit facility, term loans, senior notes and mortgage debt), for the five years subsequent to September 30, 2020 and thereafter are as follows (in thousands): 2020 (October - December) $ 2,745 2021 70,724 2022 239,531 2023 296,213 2024 338,597 Thereafter 567,405 1,515,215 Unamortized fair value adjustment of assumed debt 1,850 Unamortized debt issuance costs (8,126 ) Total $ 1,508,939
Schedule of Total Fixed-Rate and Variable Rate Debt	The Company uses interest rate swaps to manage its interest rate risks on a portion of its variable-rate debt. Throughout the terms of these interest rate swaps, the Company pays a fixed rate of interest and receives a floating rate of interest equal to one-month LIBOR. The swaps are designed to effectively fix the interest payments on variable-rate debt instruments. See Note 5 for more information on the interest rate swap agreements. The Company’s total fixed-rate and variable-rate debt, after giving effect to its interest rate swaps in effect at September 30, 2020 and December 31, 2019, is set forth below. All dollar amounts are in thousands. September 30, 2020 Percentage December 31, 2019 Percentage Fixed-rate debt (1) $ 1,289,964 85 % $ 1,297,467 98 % Variable-rate debt 225,251 15 % 28,400 2 % Total $ 1,515,215 $ 1,325,867 Weighted-average interest rate of debt 3.82 % 3.59 % (1) Fixed-rate debt includes the portion of variable-rate debt where the interest payments have been effectively fixed by interest rate swaps as of the respective balance sheet date. See Note 5
Summary [Member]
Debt Tables [Line Items]
Schedule of Long-term Debt Instruments	As of September 30, 2020, and December 31, 2019, the Company’s debt consisted of the following (in thousands): September 30, 2020 December 31, 2019 Revolving credit facility $ 129,700 $ 50,900 Term loans and senior notes, net 863,813 813,934 Mortgage debt, net 515,426 455,573 Debt, net $ 1,508,939 $ 1,320,407
Credit Facilities [Member]
Debt Tables [Line Items]
Schedule of Long-term Debt Instruments	As of September 30, 2020 and December 31, 2019, the details of the Company’s unsecured credit facilities were as set forth below. All dollar amounts are in thousands. Outstanding Balance Interest Rate Maturity Date September 30, 2020 December 31, 2019 Revolving credit facility (1) LIBOR + 1.40% - 2.25% 7/27/2022 $ 129,700 $ 50,900 Term loans and senior notes $200 million term loan LIBOR + 1.35% - 2.20% 7/27/2023 200,000 200,000 $225 million term loan LIBOR + 1.35% - 2.20% 1/31/2024 225,000 225,000 $50 million term loan LIBOR + 1.35% - 2.20% 8/2/2023 50,000 50,000 $175 million term loan LIBOR + 1.65% - 2.50% 8/2/2025 175,000 175,000 2017 $85 million term loan LIBOR + 1.30% - 2.10% 7/25/2024 85,000 85,000 2019 $85 million term loan LIBOR + 1.70% - 2.55% 12/31/2029 85,000 85,000 $50 million senior notes 3.60% - 4.35% 3/31/2030 50,000 - Term loans and senior notes at stated value 870,000 820,000 Unamortized debt issuance costs (6,187 ) (6,066 ) Term loans and senior notes, net 863,813 813,934 Credit facilities, net (1) $ 993,513 $ 864,834 Weighted-average interest rate (2) 3.61 % 3.14 % (1) Excludes unamortized debt issuance costs related to the revolving credit facility totaling approximately $2.4 million and $2.6 million as of September 30, 2020 December 31, 2019 (2) Interest rate represents the weighted-average effective annual interest rate at the balance sheet date which includes the effect of interest rate swaps in effect on $745.0 million and $842.5 million of the outstanding variable-rate debt as of September 30, 2020 December 31, 2019 September 30, 2020 December 31, 2019
Mortgage Debt [Member]
Debt Tables [Line Items]
Schedule of Long-term Debt Instruments	As of September 30, 2020, the Company had approximately $516 million in outstanding mortgage debt secured by 33 properties with maturity dates ranging from April 2021 to May 2038. Mortgages secured by 31 of the properties carry fixed stated interest rates ranging from 3.40% to 6.25% and effective interest rates ranging from 3.40% to 4.97%. Additionally, one loan secured by the two newly acquired Cape Canaveral properties carries a variable interest rate of one-month LIBOR plus 2.00% through October 31, 2020 and one-month LIBOR plus 3.00% from November 1, 2020 through April 30, 2021. The loans generally provide for monthly payments of principal and interest on an amortized basis and defeasance or prepayment penalties if prepaid. As a result of the effects of the COVID-19 pandemic on certain hotels, the associated lenders granted temporary deferrals of principal and interest payments. The following table sets forth the hotel properties securing each loan, the interest rate, loan assumption or origination date, maturity date, the principal amount assumed or originated, and the outstanding balance prior to any fair value adjustments or debt issuance costs as of September 30, 2020 and December 31, 2019 for each of the Company’s mortgage debt obligations. All dollar amounts are in thousands. Location Brand Interest Rate (1) Loan Assumption or Origination Date Maturity Date Principal Assumed or Originated Outstanding balance as of September 30, 2020 Outstanding balance as of December 31, 2019 San Juan Capistrano, CA Residence Inn 4.15 % 9/1/2016 (2 ) $ 16,210 $ - $ 15,073 Cape Canaveral, FL Hampton (3 ) 4/30/2020 4/30/2021 10,852 10,275 - Cape Canaveral, FL Home2 Suites (3 ) 4/30/2020 4/30/2021 10,852 10,275 - Colorado Springs, CO Hampton 6.25 % 9/1/2016 7/6/2021 7,923 7,357 7,471 Franklin, TN Courtyard 6.25 % 9/1/2016 8/6/2021 14,679 13,637 13,847 Franklin, TN Residence Inn 6.25 % 9/1/2016 8/6/2021 14,679 13,637 13,847 Grapevine, TX Hilton Garden Inn 4.89 % 8/29/2012 9/1/2022 11,810 9,522 9,775 Collegeville/Philadelphia, PA Courtyard 4.89 % 8/30/2012 9/1/2022 12,650 10,199 10,471 Hattiesburg, MS Courtyard 5.00 % 3/1/2014 9/1/2022 5,732 4,772 4,897 Kirkland, WA Courtyard 5.00 % 3/1/2014 9/1/2022 12,145 10,110 10,376 Rancho Bernardo/San Diego, CA Courtyard 5.00 % 3/1/2014 9/1/2022 15,060 12,536 12,866 Seattle, WA Residence Inn 4.96 % 3/1/2014 9/1/2022 28,269 23,509 24,130 Anchorage, AK Embassy Suites 4.97 % 9/13/2012 10/1/2022 23,230 18,830 19,324 Somerset, NJ Courtyard 4.73 % 3/1/2014 10/6/2022 8,750 7,246 7,441 Tukwila, WA Homewood Suites 4.73 % 3/1/2014 10/6/2022 9,431 7,810 8,020 Huntsville, AL Homewood Suites 4.12 % 3/1/2014 2/6/2023 8,306 6,808 6,999 Prattville, AL Courtyard 4.12 % 3/1/2014 2/6/2023 6,596 5,406 5,558 San Diego, CA Residence Inn 3.97 % 3/1/2014 3/6/2023 18,600 15,209 15,640 Miami, FL Homewood Suites 4.02 % 3/1/2014 4/1/2023 16,677 13,668 14,051 New Orleans, LA Homewood Suites 4.36 % 7/17/2014 8/11/2024 27,000 22,957 23,513 Westford, MA Residence Inn 4.28 % 3/18/2015 4/11/2025 10,000 8,674 8,876 Denver, CO Hilton Garden Inn 4.46 % 9/1/2016 6/11/2025 34,118 30,623 31,311 Oceanside, CA Courtyard 4.28 % 9/1/2016 10/1/2025 13,655 12,674 12,812 Omaha, NE Hilton Garden Inn 4.28 % 9/1/2016 10/1/2025 22,682 21,052 21,280 Boise, ID Hampton 4.37 % 5/26/2016 6/11/2026 24,000 22,260 22,588 Burbank, CA Courtyard 3.55 % 11/3/2016 12/1/2026 25,564 23,315 23,552 San Diego, CA Courtyard 3.55 % 11/3/2016 12/1/2026 25,473 23,232 23,468 San Diego, CA Hampton 3.55 % 11/3/2016 12/1/2026 18,963 17,295 17,471 Burbank, CA SpringHill Suites 3.94 % 3/9/2018 4/1/2028 28,470 27,078 27,317 Santa Ana, CA Courtyard 3.94 % 3/9/2018 4/1/2028 15,530 14,770 14,901 Richmond, VA Courtyard 3.40 % 2/12/2020 3/11/2030 14,950 14,811 - Richmond, VA Residence Inn 3.40 % 2/12/2020 3/11/2030 14,950 14,811 - Portland, ME Residence Inn 3.43 % 3/2/2020 4/1/2030 33,500 33,500 - San Jose, CA Homewood Suites 4.22 % 12/22/2017 5/1/2038 30,000 27,657 28,092 $ 591,306 515,515 454,967 Unamortized fair value adjustment of assumed debt 1,850 2,526 Unamortized debt issuance costs (1,939 ) (1,920 ) Total $ 515,426 $ 455,573 (1) Interest rates are the rates per the loan agreement. For loans assumed, the Company adjusted the interest rates per the loan agreement to market rates and is amortizing the adjustments to interest expense over the life of the loan. (2) Loan was repaid in full in March 2020. (3) Interest rate is variable based on one-month LIBOR plus 2.00% until October 31, 2020 and one-month LIBOR plus 3.00% from November 1, 2020 through April 30, 2021. As of September 30, 2020

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of Interest Rate Swap Agreements	The following table sets forth information for each of the Company’s interest rate swap agreements outstanding as of September 30, 2020 and December 31, 2019. All dollar amounts are in thousands. Notional Fair Value Asset (Liability) Amount at September 30, 2020 Origination Date Effective Date Maturity Date Swap Fixed Interest Rate September 30, 2020 December 31, 2019 Interest rate swaps designated as cash flow hedges at September 30, 2020: $ 50,000 4/7/2016 9/30/2016 3/31/2021 1.09% $ (235 ) $ 317 100,000 4/7/2016 9/30/2016 3/31/2023 1.33% (3,023 ) 707 75,000 5/31/2017 7/31/2017 6/30/2024 1.96% (5,098 ) (1,286 ) 10,000 8/10/2017 8/10/2017 6/30/2024 2.01% (699 ) (185 ) 50,000 6/1/2018 1/31/2019 6/30/2025 2.89% (6,422 ) (3,407 ) 50,000 7/2/2019 7/5/2019 7/18/2024 1.65% (2,864 ) (193 ) 50,000 8/21/2019 8/23/2019 8/18/2024 1.32% (2,272 ) 595 50,000 8/21/2019 8/23/2019 8/30/2024 1.32% (2,287 ) 603 85,000 12/31/2019 12/31/2019 12/31/2029 1.86% (10,474 ) (842 ) 25,000 12/6/2018 1/31/2020 6/30/2025 2.75% (3,048 ) (1,501 ) 50,000 12/7/2018 5/18/2020 1/31/2024 2.72% (4,353 ) (2,139 ) 75,000 8/21/2019 5/18/2020 5/18/2025 1.27% (3,730 ) 1,222 75,000 7/31/2020 8/18/2020 8/18/2022 0.13% 1 - 75,000 8/21/2019 5/18/2021 5/18/2026 1.30% (3,816 ) 1,309 820,000 (48,320 ) (4,800 ) Interest rate swaps matured prior to September 30, 2020: 212,500 5/19/2015 5/21/2015 5/18/2020 1.58% - 78 110,000 7/2/2015 7/2/2015 5/18/2020 1.62% - 24 322,500 - 102 $ 1,142,500 $ (48,320 ) $ (4,698 )
Derivative Instruments, Gain (Loss) Recognized	The following table presents the effect of derivative instruments in cash flow hedging relationships in the Company’s consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2020 and 2019 (in thousands): Net Unrealized Loss Recognized in Other Comprehensive Income (Loss) Net Unrealized Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) to Interest and Other Expense, net Three Months Ended September 30, Three Months Ended September 30, 2020 2019 2020 2019 Interest rate derivatives in cash flow hedging relationships $ 33 $ (3,298 ) $ (2,706 ) $ 895 Net Unrealized Gain (Loss) Recognized in Other Comprehensive Income (Loss) Net Unrealized Gain Reclassified from Accumulated Other Comprehensive Income (Loss) to Interest and Other Expense, net Nine Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Interest rate derivatives in cash flow hedging relationships $ (48,628 ) $ (16,966 ) $ (5,006 ) $ 3,391

Compensation Plans (Tables)

Compensation Plans (Tables)	9 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Information Pertaining to Share-based Compensation Issued	The following table sets forth information pertaining to the share-based compensation issued under the 2019 Incentive Plan and the incentive plan for 2018 (the “2018 Incentive Plan”). 2019 Incentive Plan 2018 Incentive Plan Period common shares issued First Quarter 2020 First Quarter 2019 Common shares earned under each incentive plan 665,552 156,926 Common shares surrendered on issuance date to satisfy tax withholding obligations 60,616 24,999 Common shares earned and issued under each incentive plan, net of common shares surrendered on issuance date to satisfy tax withholding obligations 604,936 131,927 Closing stock price on issuance date $ 13.01 $ 16.49 Total share-based compensation earned, including the surrendered shares (in millions) $ 8.7 (1) $ 2.6 (2) Of the total common shares earned and issued, total common shares unrestricted at time of issuance 426,553 105,345 Of the total common shares earned and issued, total common shares restricted at time of issuance 178,383 26,582 Restricted common shares vesting date December 11, 2020 December 13, 2019 Common shares surrendered on vesting date to satisfy tax withholding requirements resulting from vesting of restricted common shares n/a 5,502 (1) Of the total 2019 share-based compensation, approximately $7.5 million was recorded as a liability as of December 31, 2019 December 31, 2019 (2) Of the total 2018 share-based compensation, approximately $0.2 million, which vested on December 13, 2019, was recognized as share-based compensation expense proportionately throughout 2019. For the three and nine months ended September 30, 2019, the Company recognized approximately $0.04 million and $0.1 million, respectively, of share-based compensation expense related to restricted share awards.

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)HotelRoomState	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)SegmentHotelRoomStateProperty	Sep. 30, 2019USD ($)
Organization and Summary of Significant Accounting Policies (Details) [Line Items]
Number of reportable segments | Segment			1
Number of hotels | Hotel	235		235
Aggregate number of hotel rooms | Room	30,023		30,023
Number of states in which hotels are located | State	34		34
Number of hotels with intentionally consolidated operations | Hotel			8
Impairment of real estate | $	$ 0	$ 6,467	$ 4,382	$ 6,467
ASU 2018-13 [Member]
Organization and Summary of Significant Accounting Policies (Details) [Line Items]
Change in accounting principle, ASU adopted	true		true
Change in accounting principle, ASU adoption date	Jan. 1, 2020		Jan. 1, 2020
Change in accounting principle, ASU immaterial effect	true		true
ASU 2020-04 [Member]
Organization and Summary of Significant Accounting Policies (Details) [Line Items]
Change in accounting principle, ASU adopted	true		true
Change in accounting principle, ASU adoption date	Mar. 31, 2020		Mar. 31, 2020
Change in accounting principle, ASU immaterial effect	true		true
Real Estate Impairment Charges [Member]
Organization and Summary of Significant Accounting Policies (Details) [Line Items]
Number of real estate properties | Property			1
Impairment of real estate | $			$ 4,400

Investment In Real Estate - Sch

Investment In Real Estate - Schedule of Investment in Real Estate (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Property Plant And Equipment [Line Items]
Real Estate Investment Property, at Cost	$ 5,990,190	$ 5,880,167
Less Accumulated Depreciation and Amortization	(1,196,245)	(1,054,429)
Investment in Real Estate, net	4,793,945	4,825,738
Land [Member]
Property Plant And Equipment [Line Items]
Real Estate Investment Property, at Cost	726,943	724,054
Building and Improvements [Member]
Property Plant And Equipment [Line Items]
Real Estate Investment Property, at Cost	4,542,214	4,458,383
Furniture, Fixtures and Equipment [Member]
Property Plant And Equipment [Line Items]
Real Estate Investment Property, at Cost	503,643	486,386
Finance Ground Lease Assets [Member]
Property Plant And Equipment [Line Items]
Real Estate Investment Property, at Cost	203,617	197,617
Franchise Fees [Member]
Property Plant And Equipment [Line Items]
Real Estate Investment Property, at Cost	$ 13,773	$ 13,727

Investment in Real Estate - Add

Investment in Real Estate - Additional Information (Details) $ in Thousands	Apr. 30, 2020USD ($)	Jul. 31, 2020USD ($)	May 31, 2020USD ($)	Sep. 30, 2020USD ($)HotelRoomState	Sep. 30, 2019USD ($)Hotel	Sep. 30, 2020USD ($)HotelRoomStateContract	Sep. 30, 2019USD ($)Hotel	Dec. 31, 2019HotelRoom
Investment In Real Estate [Line Items]
Number of hotels | Hotel				235		235
Aggregate number of hotel rooms | Room				30,023		30,023
Number of states in which hotels are located | State				34		34
Total revenue				$ 148,826	$ 331,722	$ 467,914	$ 976,626
Operating income (loss)				$ (22,356)	$ 61,125	(69,212)	193,079
Refunds (payments) for potential acquisitions, net						$ (585)	$ 1,529
Courtyard Denver, CO [Member]
Investment In Real Estate [Line Items]
Refunds (payments) for potential acquisitions, net			$ 600
Hotel Acquisitions [Member]
Investment In Real Estate [Line Items]
Number of hotels | Hotel				4	2	4	2	3
Aggregate number of hotel rooms | Room				483		483		343
Total revenue						$ 1,500	$ 6,300
Operating income (loss)						$ (900)	$ 1,300
Hotel Acquisitions [Member] | Hampton and Home2 Suites Cape Canaveral, FL [Member]
Investment In Real Estate [Line Items]
Payments to acquire real estate	$ 25,000
Note payable term	1 year
Note payable, face amount	$ 21,700
Notes payable, description of variable rate basis	one-month LIBOR
Debt instrument value reduced from developer for construction savings		$ 1,100
Hotel Acquisitions [Member] | Hampton and Home2 Suites Cape Canaveral, FL [Member] | London Interbank Offered Rate (LIBOR) [Member] | Variable Interest Rate for the First Six Months of Loan [Member]
Investment In Real Estate [Line Items]
Margin added to reference rate	2.00%
Hotel Acquisitions [Member] | Hampton and Home2 Suites Cape Canaveral, FL [Member] | London Interbank Offered Rate (LIBOR) [Member] | Variable Interest Rate for the Last Six Months of Loan [Member]
Investment In Real Estate [Line Items]
Margin added to reference rate	3.00%
Hotels Under Purchase Contract [Member]
Investment In Real Estate [Line Items]
Aggregate number of hotel rooms | Room				176		176
Number of outstanding contracts | Contract						1
Purchase contract gross purchase price				$ 49,600		$ 49,600
Refundable contract deposits				$ 300		$ 300

Investment in Real Estate - S_2

Investment in Real Estate - Schedule of Hotel Acquisitions (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020USD ($)Room	Dec. 31, 2019USD ($)Room
Real Estate Properties [Line Items]
Rooms	30,023
Hotel Acquisitions [Member]
Real Estate Properties [Line Items]
Rooms	483	343
Gross Purchase Price | $	$ 111,292	$ 59,291
Hampton Cape Canaveral, FL [Member] | Hotel Acquisitions [Member]
Real Estate Properties [Line Items]
Manager	LBA
Date Acquired	Apr. 30, 2020
Rooms	116
Gross Purchase Price | $	$ 24,102
Home2 Suites Cape Canaveral, FL [Member] | Hotel Acquisitions [Member]
Real Estate Properties [Line Items]
Manager	LBA
Date Acquired	Apr. 30, 2020
Rooms	108
Gross Purchase Price | $	$ 22,602
Hyatt House Tempe, AZ [Member] | Hotel Acquisitions [Member]
Real Estate Properties [Line Items]
Manager	Crestline
Date Acquired	Aug. 13, 2020
Rooms	105
Gross Purchase Price | $	$ 26,309
Hyatt Place Tempe, AZ [Member] | Hotel Acquisitions [Member]
Real Estate Properties [Line Items]
Manager	Crestline
Date Acquired	Aug. 13, 2020
Rooms	154
Gross Purchase Price | $	$ 38,279
Hampton St. Paul, MN [Member] | Hotel Acquisitions [Member]
Real Estate Properties [Line Items]
Manager		Vista Host
Date Acquired		Mar. 4, 2019
Rooms		160
Gross Purchase Price | $		$ 31,680
Home2 Suites Orlando, FL [Member] | Hotel Acquisitions [Member]
Real Estate Properties [Line Items]
Manager		LBA
Date Acquired		Mar. 19, 2019
Rooms		128
Gross Purchase Price | $		$ 20,736
Independent boutique Richmond VA [Member] | Hotel Acquisitions [Member]
Real Estate Properties [Line Items]
Manager		Crestline
Date Acquired		Oct. 9, 2019
Rooms		55
Gross Purchase Price | $		$ 6,875

Dispositions and Hotel Sale C_3

Dispositions and Hotel Sale Contracts - Additional Information (Details) $ in Thousands	1 Months Ended	3 Months Ended			9 Months Ended		12 Months Ended	21 Months Ended
	Jun. 30, 2020USD ($)Room	Sep. 30, 2020USD ($)HotelRoom	Jun. 30, 2020USD ($)Room	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)HotelRoomTransaction	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)HotelTransaction	Sep. 30, 2020USD ($)HotelRoom
Dispositions Details [Line Items]
Number of hotels | Hotel		235			235			235
Gain (Loss) on Disposition of Assets		$ 0		$ 0	$ 8,785	$ 1,052
Aggregate number of hotel rooms | Room		30,023			30,023			30,023
Loss on impairment of depreciable real estate assets		$ 0		6,467	$ 4,382	6,467
Hotels Sold [Member]
Dispositions Details [Line Items]
Number of hotels | Hotel		2			2		11	2
Number of Transactions | Transaction					2		3
Sale of Real Estate Assets, Gross Sales Price					$ 45,000		$ 121,700
Gain (Loss) on Disposition of Assets					8,800		5,600
Real Estate Investment, Carrying Value		$ 35,700			35,700		$ 115,100	$ 35,700
Operating income (loss), excluding gain (loss) on sale of real estate					$ 100	$ (2,000)
Number of hotels | Hotel								13
Hotel Under Sale Contact [Member] | Homewood Suites Memphis, TN [Member]
Dispositions Details [Line Items]
Aggregate number of hotel rooms | Room	140		140
Purchase and sale agreement, gross sales price	$ 9,000
Loss on impairment of depreciable real estate assets			$ 4,400
Hotels Sold [Member] | Courtyard Winston Salem NC [Member]
Dispositions Details [Line Items]
Purchase and sale agreement, gross sales price				6,700
Loss on impairment of depreciable real estate assets				$ 6,500

Dispositions and Hotel Sale C_4

Dispositions and Hotel Sale Contracts - Schedule of Hotels Sold (Details) - Room	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Dispositions Details Hotels Sold [Line Items]
Rooms	335	1,285
SpringHill Suites Sanford, FL [Member]
Dispositions Details Hotels Sold [Line Items]
Date Sold	Jan. 16, 2020
Rooms	105
SpringHill Suites Boise, ID [Member]
Dispositions Details Hotels Sold [Line Items]
Date Sold	Feb. 27, 2020
Rooms	230
Homewood Suites Sarasota, FL [Member]
Dispositions Details Hotels Sold [Line Items]
Date Sold		Mar. 28, 2019
Rooms		100
TownePlace Suites Tampa, FL [Member]
Dispositions Details Hotels Sold [Line Items]
Date Sold		Mar. 28, 2019
Rooms		94
SpringHill Suites Baton Rouge, LA [Member]
Dispositions Details Hotels Sold [Line Items]
Date Sold		Mar. 28, 2019
Rooms		119
Hampton Holly Springs, NC [Member]
Dispositions Details Hotels Sold [Line Items]
Date Sold		Mar. 28, 2019
Rooms		124
Hilton Garden Inn Duncanville, TX [Member]
Dispositions Details Hotels Sold [Line Items]
Date Sold		Mar. 28, 2019
Rooms		142
Courtyard Texarkana, TX [Member]
Dispositions Details Hotels Sold [Line Items]
Date Sold		Mar. 28, 2019
Rooms		90
TownePlace Suites Texarkana, TX [Member]
Dispositions Details Hotels Sold [Line Items]
Date Sold		Mar. 28, 2019
Rooms		85
Courtyard Bristol, VA [Member]
Dispositions Details Hotels Sold [Line Items]
Date Sold		Mar. 28, 2019
Rooms		175
Courtyard Harrisonburg, VA [Member]
Dispositions Details Hotels Sold [Line Items]
Date Sold		Mar. 28, 2019
Rooms		125
Courtyard Winston Salem NC [Member]
Dispositions Details Hotels Sold [Line Items]
Date Sold		Dec. 19, 2019
Rooms		122
Hampton Fort Lauderdale, FL [Member]
Dispositions Details Hotels Sold [Line Items]
Date Sold		Dec. 30, 2019
Rooms		109

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Revolving credit facility	$ 129,700	$ 50,900
Term loans and senior notes, net	863,813	813,934
Mortgage debt, net	515,426	455,573
Debt, net	$ 1,508,939	$ 1,320,407

Debt - Schedule of Future Minim

Debt - Schedule of Future Minimum Debt Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
2020 (October - December)	$ 2,745
2021	70,724
2022	239,531
2023	296,213
2024	338,597
Thereafter	567,405
Debt, gross	1,515,215	$ 1,325,867
Unamortized fair value adjustment of assumed debt	1,850
Unamortized debt issuance costs	(8,126)
Debt, net	$ 1,508,939	$ 1,320,407

Debt - Schedule of Total Fixed-

Debt - Schedule of Total Fixed-Rate and Variable Rate Debt (Details) - USD ($) $ in Thousands		Sep. 30, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Fixed-rate debt	[1]	$ 1,289,964	$ 1,297,467
Variable-rate debt		225,251	28,400
Debt, gross		$ 1,515,215	$ 1,325,867
Weighted-average interest rate of debt		3.82%	3.59%
Fixed-rate debt, Percentage	[1]	85.00%	98.00%
Variable-rate debt, Percentage		15.00%	2.00%
[1]	Fixed-rate debt includes the portion of variable-rate debt where the interest payments have been effectively fixed by interest rate swaps as of the respective balance sheet date. See Note 5

Debt - Additional Information (

Debt - Additional Information (Details)	Jun. 05, 2020USD ($)	Mar. 16, 2020USD ($)	Dec. 31, 2019USD ($)Loan	Jan. 29, 2019USD ($)	May 31, 2020USD ($)	Sep. 30, 2020USD ($)LoanHotel_PropertyMortgage_Loan	Sep. 30, 2019USD ($)	Aug. 02, 2018USD ($)	Jul. 25, 2017USD ($)
Debt Details [Line Items]
Outstanding amount			$ 1,320,407,000			$ 1,508,939,000
Cash and cash equivalents			0			27,435,000
Proceeds from term loans and senior notes						50,000,000	$ 75,000,000
Outstanding debt			$ 1,325,867,000			1,515,215,000
Proceeds from mortgage debt and other loans						81,520,000
Repayments of debt						$ 41,523,000	$ 30,468,000
2017 $85 Million Unsecured Term Loan Facility [Member]
Debt Details [Line Items]
Loan amendment description						In July 2019, the Company entered into an amendment of the 2017 $85 million term loan facility to reduce the interest rate margin from 1.80% - 2.60% to 1.30% - 2.10%, depending upon the Company’s leverage ratio, as calculated under the terms of the credit agreement, for the remainder of the term.
Number of term loans | Loan						1
Debt instrument, face amount									$ 85,000,000
Debt instrument, maturity date						Jul. 25, 2024
2019 $85 Million Unsecured Term Loan Facility [Member]
Debt Details [Line Items]
Note payable, description of variable rate basis						one-month LIBOR
Number of term loans | Loan			1
Debt instrument, face amount			$ 85,000,000
Debt instrument, maturity date			Dec. 31, 2029
$50 Million Senior Notes [Member]
Debt Details [Line Items]
Debt instrument, face amount		$ 50,000,000
Debt instrument, maturity date		Mar. 31, 2030
Mortgage Debt [Member]
Debt Details [Line Items]
Debt instrument, maturity date, description						maturity dates ranging from April 2021 to May 2038
Outstanding debt						$ 516,000,000
Number of hotel properties used to secure debt | Hotel_Property						33
Number of hotel properties carry fixed interest rates | Hotel_Property						31
CARES Act loans [Member]
Debt Details [Line Items]
Proceeds from mortgage debt and other loans					$ 18,000,000
Repayments of debt					$ 18,000,000
Maximum [Member] | $50 Million Senior Notes [Member]
Debt Details [Line Items]
Debt instrument, interest rate, stated percentage		4.35%
Maximum [Member] | Mortgage Debt [Member]
Debt Details [Line Items]
Debt instrument, interest rate, stated percentage						6.25%
Effective interest rates						4.97%
Minimum [Member] | $50 Million Senior Notes [Member]
Debt Details [Line Items]
Debt instrument, interest rate, stated percentage		3.60%
Minimum [Member] | Mortgage Debt [Member]
Debt Details [Line Items]
Debt instrument, interest rate, stated percentage						3.40%
Effective interest rates						3.40%
London Interbank Offered Rate (LIBOR) [Member] | Mortgage Debt [Member]
Debt Details [Line Items]
Number of hotel properties used to secure debt | Hotel_Property						2
Number of mortgage loans | Mortgage_Loan						1
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | 2019 $85 Million Unsecured Term Loan Facility [Member]
Debt Details [Line Items]
Debt instrument, basis spread on variable rate						2.55%
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | 2019 $85 Million Unsecured Term Loan Facility [Member]
Debt Details [Line Items]
Debt instrument, basis spread on variable rate						1.70%
LIBOR Interest Rate Margin Prior to Amendment in July 2019 [Member] | Maximum [Member] | 2017 $85 Million Unsecured Term Loan Facility [Member]
Debt Details [Line Items]
Debt instrument, basis spread on variable rate						2.60%
LIBOR Interest Rate Margin Prior to Amendment in July 2019 [Member] | Minimum [Member] | 2017 $85 Million Unsecured Term Loan Facility [Member]
Debt Details [Line Items]
Debt instrument, basis spread on variable rate						1.80%
LIBOR Interest Rate Margin Subsequent to Amendment in July 2019 [Member] | Maximum [Member] | 2017 $85 Million Unsecured Term Loan Facility [Member]
Debt Details [Line Items]
Debt instrument, basis spread on variable rate						2.10%
LIBOR Interest Rate Margin Subsequent to Amendment in July 2019 [Member] | Minimum [Member] | 2017 $85 Million Unsecured Term Loan Facility [Member]
Debt Details [Line Items]
Debt instrument, basis spread on variable rate						1.30%
LIBOR Plus Variable Interest Rate Through October 31, 2020 [Member] | Mortgage Debt [Member]
Debt Details [Line Items]
Debt instrument, basis spread on variable rate						2.00%
Interest rate terms						one-month LIBOR plus 2.00
LIBOR Plus Variable Interest Rate From November 1, 2020 through April 30, 2021 [Member] | Mortgage Debt [Member]
Debt Details [Line Items]
Debt instrument, basis spread on variable rate						3.00%
Interest rate terms						one-month LIBOR plus 3.00
Line of Credit [Member]
Debt Details [Line Items]
Loan amendment description						The amendments suspend the testing of the Company’s existing financial maintenance covenants under the unsecured credit facilities until the date the compliance certificate is required to be delivered for the fiscal quarter ending June 30, 2021 (unless the Company elects an earlier date) (the “Covenant Waiver Period”), and provide for, among other restrictions, the following during the Covenant Waiver Period:   ● Mandatory prepayments of amounts outstanding under the Company’s unsecured credit facilities of net cash proceeds from certain debt and equity issuances and asset dispositions, subject to various exceptions. A portion of the mandatory prepayments will be available for future borrowing under the revolving credit facility;   ● A minimum liquidity covenant of $100 million;   ● A requirement to pledge the equity interests of each direct or indirect owner of certain unencumbered property in favor of the administrative agents if average liquidity for any month is less than $275 million or the total amount outstanding under the revolving credit facility exceeds $275 million;   ● Restrictions on the Company’s and its subsidiaries’ ability to incur additional indebtedness or prepay certain existing indebtedness;   ● Restrictions on the Company’s ability to make cash distributions (except to the extent required to maintain REIT status) and share repurchases;   ● Maximum discretionary capital expenditures of $50 million;   ● Limitations on additional investments; and   ● An increase in the applicable interest rate under the unsecured credit facilities until the end of the Covenant Waiver Period to a rate that corresponds to the highest leverage-based applicable interest rate margin with respect to the unsecured credit facilities.
Credit Facilities [Member]
Debt Details [Line Items]
Minimum liquidity covenant amount	$ 100,000,000
Average liquidity criteria amount	275,000,000
Maximum discretionary capital expenditure	50,000,000
Line of credit facility, covenant terms						The credit agreements governing the unsecured credit facilities contain mandatory prepayment requirements, customary affirmative and negative covenants, restrictions on certain investments and events of default. The credit agreements contain the following financial and restrictive covenants, each of which are suspended during the Covenant Waiver Period (capitalized terms are defined in the credit agreements).   ● A ratio of Consolidated Total Indebtedness to Consolidated EBITDA of not more than 6.50 to 1.00 (subject to a higher amount in certain circumstances);   ● A ratio of Consolidated Secured Indebtedness to Consolidated Total Assets of not more than 45%;   ● A minimum Consolidated Tangible Net Worth of approximately $3.2 billion (plus an amount equal to 75% of the Net Cash Proceeds from issuances and sales of Equity Interests occurring after the Closing Date, subject to adjustment);   ● A ratio of Adjusted Consolidated EBITDA to Consolidated Fixed Charges of not less than 1.50 to 1.00 for the trailing four full quarters;   ● A ratio of Unencumbered Adjusted NOI to Consolidated Implied Interest Expense for Consolidated Unsecured Indebtedness of not less than 2.00 to 1.00 for the trailing four full quarters;   ● A ratio of Consolidated Unsecured Indebtedness to Unencumbered Asset Value of not more than 60% (subject to a higher level in certain circumstances); and   ● A ratio of Consolidated Secured Recourse Indebtedness to Consolidated Total Assets of not more than 10%.
Credit Facilities [Member] | Maximum [Member]
Debt Details [Line Items]
Outstanding amount	$ 275,000,000
Credit Facilities [Member] | Eurodollar Rate Loans [Member]
Debt Details [Line Items]
Note payable, description of variable rate basis						0 to 25 basis points
Credit Facilities [Member] | Base Rate Floor [Member]
Debt Details [Line Items]
Debt instrument, interest rate during period	1.25%
Unsecured Credit Facility [Member]
Debt Details [Line Items]
Minimum consolidated tangible net worth	$ 3,200,000,000
Percentage of net cash proceeds from issuances and sales of equity interests	75
Unsecured Credit Facility [Member] | Maximum [Member]
Debt Details [Line Items]
Ratio of consolidated total indebtedness to consolidated EBITDA	6.50
Ratio of consolidated secured indebtedness to consolidated total assets	45.00%
Ratio of un secured indebtedness to unencumbered asset value	60.00%
Ratio of secured recourse indebtedness to consolidated total assets	10.00%
Unsecured Credit Facility [Member] | Minimum [Member]
Debt Details [Line Items]
Ratio of adjusted consolidated EBITDA to consolidated fixed charges	1.50
Ratio of unencumbered adjusted NOI to consolidated implied interest expense	2
$850 Million Unsecured Credit Facility [Member]
Debt Details [Line Items]
Note payable, description of variable rate basis						one-month LIBOR
Line of credit facility, maximum borrowing capacity						$ 850,000,000
Line of credit facility, remaining borrowing capacity						295,300,000
$850 Million Unsecured Credit Facility [Member] | $425 Million Unsecured Revolving Credit Facility [Member]
Debt Details [Line Items]
Line of credit facility, maximum borrowing capacity						$ 425,000,000
Line of credit facility, expiration date						Jul. 27, 2022
Debt instrument, maturity date, description						maturity date may be extended up to one year
Debt instrument extended maturity date term						1 year
$850 Million Unsecured Credit Facility [Member] | Million 425 Unsecured Term Loan Facility [Member]
Debt Details [Line Items]
Term loan facility, maximum borrowing capacity						$ 425,000,000
Number of term loans | Loan						2
$850 Million Unsecured Credit Facility [Member] | Million 425 Unsecured Term Loan Facility [Member] | $200 Million Unsecured Term Loan [Member]
Debt Details [Line Items]
Debt instrument, face amount						$ 200,000,000
Debt instrument, maturity date						Jul. 27, 2023
$850 Million Unsecured Credit Facility [Member] | Million 425 Unsecured Term Loan Facility [Member] | $225 Million Unsecured Term Loan [Member]
Debt Details [Line Items]
Debt instrument, face amount						$ 225,000,000
Debt instrument, maturity date						Jan. 31, 2024
$850 Million Unsecured Credit Facility [Member] | Maximum [Member] | $425 Million Unsecured Revolving Credit Facility [Member]
Debt Details [Line Items]
Line of credit facility, unused capacity, commitment fee percentage						0.25%
$850 Million Unsecured Credit Facility [Member] | Minimum [Member] | $425 Million Unsecured Revolving Credit Facility [Member]
Debt Details [Line Items]
Line of credit facility, unused capacity, commitment fee percentage						0.20%
$850 Million Unsecured Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Details [Line Items]
Debt instrument, basis spread on variable rate						2.25%
$850 Million Unsecured Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Details [Line Items]
Debt instrument, basis spread on variable rate						1.35%
$225 Million Unsecured Term Loan Facility [Member]
Debt Details [Line Items]
Note payable, description of variable rate basis						one-month LIBOR
Term loan facility, maximum borrowing capacity						$ 225,000,000
Date of amended and restated credit facility						Aug. 2, 2018
$225 Million Unsecured Term Loan Facility [Member] | $50 Million Unsecured Term Loan [Member]
Debt Details [Line Items]
Debt instrument, face amount								$ 50,000,000
Debt instrument, maturity date						Aug. 2, 2023
$225 Million Unsecured Term Loan Facility [Member] | $175 Million Unsecured Term Loan [Member]
Debt Details [Line Items]
Debt instrument, face amount								$ 100,000,000
Debt instrument, maturity date						Aug. 2, 2025
Total borrowing capacity under term loan						$ 175,000,000
Proceeds from term loans and senior notes				$ 75,000,000
Debt instrument, description						$100 million was funded on August 2, 2018 and the remaining $75 million was funded on January 29, 2019
$225 Million Unsecured Term Loan Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Details [Line Items]
Debt instrument, basis spread on variable rate						2.50%
$225 Million Unsecured Term Loan Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Details [Line Items]
Debt instrument, basis spread on variable rate						1.35%

Debt - Schedule of Unsecured Cr

Debt - Schedule of Unsecured Credit Facilities (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Outstanding balance		$ 1,515,215	$ 1,325,867
Revolving credit facility outstanding balance		129,700	50,900
Unamortized debt issuance costs		(8,126)
Term loans and senior notes, net		863,813	813,934
Credit facilities, net		$ 1,508,939	$ 1,320,407
Weighted-average interest rate		3.82%	3.59%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Interest Rate, Description	[1]	LIBOR + 1.40% - 2.25%
Maturity Date	[1]	Jul. 27, 2022
Revolving credit facility outstanding balance	[1]	$ 129,700	$ 50,900
Revolving Credit Facility [Member] | LIBOR [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	[1]	1.40%
Revolving Credit Facility [Member] | LIBOR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	[1]	2.25%
$200 Million Term Loan [Member]
Debt Instrument [Line Items]
Interest Rate, Description		LIBOR + 1.35% - 2.20%
Maturity Date		Jul. 27, 2023
Outstanding balance		$ 200,000	200,000
$200 Million Term Loan [Member] | LIBOR [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate		1.35%
$200 Million Term Loan [Member] | LIBOR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate		2.20%
$225 Million Term Loan [Member]
Debt Instrument [Line Items]
Interest Rate, Description		LIBOR + 1.35% - 2.20%
Maturity Date		Jan. 31, 2024
Outstanding balance		$ 225,000	225,000
$225 Million Term Loan [Member] | LIBOR [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate		1.35%
$225 Million Term Loan [Member] | LIBOR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate		2.20%
$50 Million Term Loan [Member]
Debt Instrument [Line Items]
Interest Rate, Description		LIBOR + 1.35% - 2.20%
Maturity Date		Aug. 2, 2023
Outstanding balance		$ 50,000	50,000
$50 Million Term Loan [Member] | LIBOR [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate		1.35%
$50 Million Term Loan [Member] | LIBOR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate		2.20%
$175 Million term Loan [Member]
Debt Instrument [Line Items]
Interest Rate, Description		LIBOR + 1.65% - 2.50%
Maturity Date		Aug. 2, 2025
Outstanding balance		$ 175,000	175,000
$175 Million term Loan [Member] | LIBOR [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate		1.65%
$175 Million term Loan [Member] | LIBOR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate		2.50%
2017 $85 Million Term Loan [Member]
Debt Instrument [Line Items]
Interest Rate, Description		LIBOR + 1.30% - 2.10%
Maturity Date		Jul. 25, 2024
Outstanding balance		$ 85,000	85,000
2017 $85 Million Term Loan [Member] | LIBOR [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate		1.30%
2017 $85 Million Term Loan [Member] | LIBOR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate		2.10%
2019 $85 Million Unsecured Term Loan Facility [Member]
Debt Instrument [Line Items]
Interest Rate, Description		LIBOR + 1.70% - 2.55%
Maturity Date		Dec. 31, 2029
Outstanding balance		$ 85,000	85,000
2019 $85 Million Unsecured Term Loan Facility [Member] | LIBOR [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate		1.70%
2019 $85 Million Unsecured Term Loan Facility [Member] | LIBOR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate		2.55%
$50 Million Senior Notes [Member]
Debt Instrument [Line Items]
Interest Rate, Description		3.60% - 4.35%
Maturity Date		Mar. 31, 2030
Outstanding balance		$ 50,000
$50 Million Senior Notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest Rate		3.60%
$50 Million Senior Notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest Rate		4.35%
Term Loans and Senior Loans, Net [Member]
Debt Instrument [Line Items]
Outstanding balance		$ 870,000	820,000
Unamortized debt issuance costs		(6,187)	(6,066)
Term loans and senior notes, net		863,813	813,934
Credit Facilities, Net [Member]
Debt Instrument [Line Items]
Credit facilities, net	[1]	$ 993,513	$ 864,834
Weighted-average interest rate	[2]	3.61%	3.14%
[1]	Excludes unamortized debt issuance costs related to the revolving credit facility totaling approximately $2.4 million and $2.6 million as of September 30, 2020 December 31, 2019
[2]	Interest rate represents the weighted-average effective annual interest rate at the balance sheet date which includes the effect of interest rate swaps in effect on $745.0 million and $842.5 million of the outstanding variable-rate debt as of September 30, 2020 December 31, 2019 September 30, 2020 December 31, 2019

Debt - Schedule of Unsecured _2

Debt - Schedule of Unsecured Credit Facilities (Parentheticals) (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Debt Details [Line Items]
Debt issuance costs, net	$ 8,126,000
Derivative, notional amount	$ 1,142,500,000
London Interbank Offered Rate (LIBOR) [Member]
Debt Details [Line Items]
Debt Instrument, Basis of Variable Rate	0.15%	1.76%
Outstanding Variable-Rate Debt Effectively Fixed By Interest Rate Swaps [Member]
Debt Details [Line Items]
Derivative, notional amount	$ 745,000,000	$ 842,500,000
Revolving Credit Facilities [Member]
Debt Details [Line Items]
Debt issuance costs, net	$ 2,400,000	$ 2,600,000

Debt - Schedule of Mortgage Deb

Debt - Schedule of Mortgage Debt Obligations (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Outstanding balance		$ 1,515,215	$ 1,325,867
Unamortized fair value adjustment of assumed debt		1,850
Unamortized debt issuance costs		(8,126)
Total		$ 515,426	455,573
Residence Inn San Juan Capistrano, CA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.15%
Loan Assumption or Origination Date		Sep. 1, 2016
Principal Assumed or Originated		$ 16,210
Outstanding balance			15,073
Hampton Cape Canaveral, FL [Member]
Debt Instrument [Line Items]
Loan Assumption or Origination Date		Apr. 30, 2020
Maturity Date		Apr. 30, 2021
Principal Assumed or Originated		$ 10,852
Outstanding balance		$ 10,275
Home2 Suites Cape Canaveral, FL [Member]
Debt Instrument [Line Items]
Loan Assumption or Origination Date		Apr. 30, 2020
Maturity Date		Apr. 30, 2021
Principal Assumed or Originated		$ 10,852
Outstanding balance		$ 10,275
Hampton Colorado Springs, CO [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	6.25%
Loan Assumption or Origination Date		Sep. 1, 2016
Maturity Date		Jul. 6, 2021
Principal Assumed or Originated		$ 7,923
Outstanding balance		$ 7,357	7,471
Courtyard Franklin, TN [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	6.25%
Loan Assumption or Origination Date		Sep. 1, 2016
Maturity Date		Aug. 6, 2021
Principal Assumed or Originated		$ 14,679
Outstanding balance		$ 13,637	13,847
Residence Inn Franklin, TN [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	6.25%
Loan Assumption or Origination Date		Sep. 1, 2016
Maturity Date		Aug. 6, 2021
Principal Assumed or Originated		$ 14,679
Outstanding balance		$ 13,637	13,847
Hilton Garden Inn Grapevine, TX [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.89%
Loan Assumption or Origination Date		Aug. 29, 2012
Maturity Date		Sep. 1, 2022
Principal Assumed or Originated		$ 11,810
Outstanding balance		$ 9,522	9,775
Courtyard Collegeville/Philadelphia, PA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.89%
Loan Assumption or Origination Date		Aug. 30, 2012
Maturity Date		Sep. 1, 2022
Principal Assumed or Originated		$ 12,650
Outstanding balance		$ 10,199	10,471
Courtyard Hattiesburg, MS [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	5.00%
Loan Assumption or Origination Date		Mar. 1, 2014
Maturity Date		Sep. 1, 2022
Principal Assumed or Originated		$ 5,732
Outstanding balance		$ 4,772	4,897
Courtyard Kirkland W A
Debt Instrument [Line Items]
Interest Rate	[1]	5.00%
Loan Assumption or Origination Date		Mar. 1, 2014
Maturity Date		Sep. 1, 2022
Principal Assumed or Originated		$ 12,145
Outstanding balance		$ 10,110	10,376
Courtyard Rancho Bernardo / San Diego, CA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	5.00%
Loan Assumption or Origination Date		Mar. 1, 2014
Maturity Date		Sep. 1, 2022
Principal Assumed or Originated		$ 15,060
Outstanding balance		$ 12,536	12,866
Residence Inn Seattle, WA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.96%
Loan Assumption or Origination Date		Mar. 1, 2014
Maturity Date		Sep. 1, 2022
Principal Assumed or Originated		$ 28,269
Outstanding balance		$ 23,509	24,130
Embassy Suites Anchorage, AK [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.97%
Loan Assumption or Origination Date		Sep. 13, 2012
Maturity Date		Oct. 1, 2022
Principal Assumed or Originated		$ 23,230
Outstanding balance		$ 18,830	19,324
Courtyard Somerset, NJ [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.73%
Loan Assumption or Origination Date		Mar. 1, 2014
Maturity Date		Oct. 6, 2022
Principal Assumed or Originated		$ 8,750
Outstanding balance		$ 7,246	7,441
Homewood Suites Tukwila, WA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.73%
Loan Assumption or Origination Date		Mar. 1, 2014
Maturity Date		Oct. 6, 2022
Principal Assumed or Originated		$ 9,431
Outstanding balance		$ 7,810	8,020
Homewood Suites Huntsville, AL [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.12%
Loan Assumption or Origination Date		Mar. 1, 2014
Maturity Date		Feb. 6, 2023
Principal Assumed or Originated		$ 8,306
Outstanding balance		$ 6,808	6,999
Courtyard Prattville, AL [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.12%
Loan Assumption or Origination Date		Mar. 1, 2014
Maturity Date		Feb. 6, 2023
Principal Assumed or Originated		$ 6,596
Outstanding balance		$ 5,406	5,558
Residence Inn San Diego, CA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	3.97%
Loan Assumption or Origination Date		Mar. 1, 2014
Maturity Date		Mar. 6, 2023
Principal Assumed or Originated		$ 18,600
Outstanding balance		$ 15,209	15,640
Homewood Suites Miami, FL [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.02%
Loan Assumption or Origination Date		Mar. 1, 2014
Maturity Date		Apr. 1, 2023
Principal Assumed or Originated		$ 16,677
Outstanding balance		$ 13,668	14,051
Homewood Suites New Orleans, LA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.36%
Loan Assumption or Origination Date		Jul. 17, 2014
Maturity Date		Aug. 11, 2024
Principal Assumed or Originated		$ 27,000
Outstanding balance		$ 22,957	23,513
Residence Inn Westford, MA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.28%
Loan Assumption or Origination Date		Mar. 18, 2015
Maturity Date		Apr. 11, 2025
Principal Assumed or Originated		$ 10,000
Outstanding balance		$ 8,674	8,876
Hilton Garden Inn Denver, CO [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.46%
Loan Assumption or Origination Date		Sep. 1, 2016
Maturity Date		Jun. 11, 2025
Principal Assumed or Originated		$ 34,118
Outstanding balance		$ 30,623	31,311
Courtyard Oceanside, CA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.28%
Loan Assumption or Origination Date		Sep. 1, 2016
Maturity Date		Oct. 1, 2025
Principal Assumed or Originated		$ 13,655
Outstanding balance		$ 12,674	12,812
Hilton Garden Inn Omaha, NE [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.28%
Loan Assumption or Origination Date		Sep. 1, 2016
Maturity Date		Oct. 1, 2025
Principal Assumed or Originated		$ 22,682
Outstanding balance		$ 21,052	21,280
Hampton Boise, ID [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.37%
Loan Assumption or Origination Date		May 26, 2016
Maturity Date		Jun. 11, 2026
Principal Assumed or Originated		$ 24,000
Outstanding balance		$ 22,260	22,588
Courtyard Burbank, CA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	3.55%
Loan Assumption or Origination Date		Nov. 3, 2016
Maturity Date		Dec. 1, 2026
Principal Assumed or Originated		$ 25,564
Outstanding balance		$ 23,315	23,552
Courtyard San Diego, CA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	3.55%
Loan Assumption or Origination Date		Nov. 3, 2016
Maturity Date		Dec. 1, 2026
Principal Assumed or Originated		$ 25,473
Outstanding balance		$ 23,232	23,468
Hampton San Diego, CA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	3.55%
Loan Assumption or Origination Date		Nov. 3, 2016
Maturity Date		Dec. 1, 2026
Principal Assumed or Originated		$ 18,963
Outstanding balance		$ 17,295	17,471
SpringHill Suites Burbank, CA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	3.94%
Loan Assumption or Origination Date		Mar. 9, 2018
Maturity Date		Apr. 1, 2028
Principal Assumed or Originated		$ 28,470
Outstanding balance		$ 27,078	27,317
Courtyard Santa Ana, CA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	3.94%
Loan Assumption or Origination Date		Mar. 9, 2018
Maturity Date		Apr. 1, 2028
Principal Assumed or Originated		$ 15,530
Outstanding balance		$ 14,770	14,901
Courtyard Richmond, VA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	3.40%
Loan Assumption or Origination Date		Feb. 12, 2020
Maturity Date		Mar. 11, 2030
Principal Assumed or Originated		$ 14,950
Outstanding balance		$ 14,811
Residence Inn Richmond, VA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	3.40%
Loan Assumption or Origination Date		Feb. 12, 2020
Maturity Date		Mar. 11, 2030
Principal Assumed or Originated		$ 14,950
Outstanding balance		$ 14,811
Residence Inn Portland, ME [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	3.43%
Loan Assumption or Origination Date		Mar. 2, 2020
Maturity Date		Apr. 1, 2030
Principal Assumed or Originated		$ 33,500
Outstanding balance		$ 33,500
Homewood Suites San Jose, CA [Member]
Debt Instrument [Line Items]
Interest Rate	[1]	4.22%
Loan Assumption or Origination Date		Dec. 22, 2017
Maturity Date		May 1, 2038
Principal Assumed or Originated		$ 30,000
Outstanding balance		27,657	28,092
Aggregate Properties [Member]
Debt Instrument [Line Items]
Principal Assumed or Originated		591,306
Outstanding balance		515,515	454,967
Unamortized fair value adjustment of assumed debt		1,850	2,526
Unamortized debt issuance costs		$ (1,939)	$ (1,920)
[1]	Interest rates are the rates per the loan agreement. For loans assumed, the Company adjusted the interest rates per the loan agreement to market rates and is amortizing the adjustments to interest expense over the life of the loan.

Debt - Schedule of Mortgage D_2

Debt - Schedule of Mortgage Debt Obligations (Parentheticals) (Details) - Mortgage Debt [Member] - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	Jul. 31, 2020	Sep. 30, 2020
Hampton and Home2 Suites Cape Canaveral, FL [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage		2.15%
Debt instrument value reduced from developer for construction savings	$ 1.1
LIBOR Plus Variable Interest Rate Through October 31, 2020 [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis of Variable Rate		2.00%
Interest rate terms		one-month LIBOR plus 2.00
LIBOR Plus Variable Interest Rate From November 1, 2020 through April 30, 2021 [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis of Variable Rate		3.00%
Interest rate terms		one-month LIBOR plus 3.00

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Additional Information (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)Derivative_Instrument	Dec. 31, 2019USD ($)
Fair Value of Financial Instruments [Line Items]
Debt, net	$ 1,508,939	$ 1,320,407
Long-term debt, fair value	1,500,000	$ 1,300,000
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months, net	$ (11,000)
Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments [Line Items]
Number of interest rate swap agreements | Derivative_Instrument	14

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Schedule of Interest Rate Swap Agreements (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount	$ 1,142,500
Fair value asset (liability)	(48,320)	$ (4,698)
Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount	820,000
Fair value asset (liability)	(48,320)	(4,800)
Matured Prior to September 30, 2020 [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount	322,500
Fair value asset (liability)		102
Interest Rate Swap #1 [Member] | Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount	$ 50,000
Origination Date	Apr. 7, 2016
Effective Date	Sep. 30, 2016
Maturity date	Mar. 31, 2021
Swap fixed interest rate	1.09%
Fair value asset (liability)	$ (235)	317
Interest Rate Swap #2 [Member] | Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount	$ 100,000
Origination Date	Apr. 7, 2016
Effective Date	Sep. 30, 2016
Maturity date	Mar. 31, 2023
Swap fixed interest rate	1.33%
Fair value asset (liability)	$ (3,023)	707
Interest Rate Swap #3 [Member] | Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount	$ 75,000
Origination Date	May 31, 2017
Effective Date	Jul. 31, 2017
Maturity date	Jun. 30, 2024
Swap fixed interest rate	1.96%
Fair value asset (liability)	$ (5,098)	(1,286)
Interest Rate Swap #4 [Member] | Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount	$ 10,000
Origination Date	Aug. 10, 2017
Effective Date	Aug. 10, 2017
Maturity date	Jun. 30, 2024
Swap fixed interest rate	2.01%
Fair value asset (liability)	$ (699)	(185)
Interest Rate Swap #5 [Member] | Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount	$ 50,000
Origination Date	Jun. 1, 2018
Effective Date	Jan. 31, 2019
Maturity date	Jun. 30, 2025
Swap fixed interest rate	2.89%
Fair value asset (liability)	$ (6,422)	(3,407)
Interest Rate Swap #6 [Member] | Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount	$ 50,000
Origination Date	Jul. 2, 2019
Effective Date	Jul. 5, 2019
Maturity date	Jul. 18, 2024
Swap fixed interest rate	1.65%
Fair value asset (liability)	$ (2,864)	(193)
Interest Rate Swap #7 [Member] | Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount	$ 50,000
Origination Date	Aug. 21, 2019
Effective Date	Aug. 23, 2019
Maturity date	Aug. 18, 2024
Swap fixed interest rate	1.32%
Fair value asset (liability)	$ (2,272)	595
Interest Rate Swap #8 [Member] | Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount	$ 50,000
Origination Date	Aug. 21, 2019
Effective Date	Aug. 23, 2019
Maturity date	Aug. 30, 2024
Swap fixed interest rate	1.32%
Fair value asset (liability)	$ (2,287)	603
Interest Rate Swap #9 [Member] | Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount	$ 85,000
Origination Date	Dec. 31, 2019
Effective Date	Dec. 31, 2019
Maturity date	Dec. 31, 2029
Swap fixed interest rate	1.86%
Fair value asset (liability)	$ (10,474)	(842)
Interest Rate Swap #10 [Member] | Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount	$ 25,000
Origination Date	Dec. 6, 2018
Effective Date	Jan. 31, 2020
Maturity date	Jun. 30, 2025
Swap fixed interest rate	2.75%
Fair value asset (liability)	$ (3,048)	(1,501)
Interest Rate Swap #11 [Member] | Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount	$ 50,000
Origination Date	Dec. 7, 2018
Effective Date	May 18, 2020
Maturity date	Jan. 31, 2024
Swap fixed interest rate	2.72%
Fair value asset (liability)	$ (4,353)	(2,139)
Interest Rate Swap #12 [Member] | Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount	$ 75,000
Origination Date	Aug. 21, 2019
Effective Date	May 18, 2020
Maturity date	May 18, 2025
Swap fixed interest rate	1.27%
Fair value asset (liability)	$ (3,730)	1,222
Interest Rate Swap #13 [Member] | Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount	$ 75,000
Origination Date	Jul. 31, 2020
Effective Date	Aug. 18, 2020
Maturity date	Aug. 18, 2022
Swap fixed interest rate	0.13%
Fair value asset (liability)	$ 1
Interest Rate Swap #14 [Member] | Designated as Hedging Instrument [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount	$ 75,000
Origination Date	Aug. 21, 2019
Effective Date	May 18, 2021
Maturity date	May 18, 2026
Swap fixed interest rate	1.30%
Fair value asset (liability)	$ (3,816)	1,309
Interest Rate Swap #15 [Member] | Matured Prior to September 30, 2020 [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount	$ 212,500
Origination Date	May 19, 2015
Effective Date	May 21, 2015
Maturity date	May 18, 2020
Swap fixed interest rate	1.58%
Fair value asset (liability)		78
Interest Rate Swap #16 | Matured Prior to September 30, 2020 [Member]
Fair Value of Financial Instruments Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, notional amount	$ 110,000
Origination Date	Jul. 2, 2015
Effective Date	Jul. 2, 2015
Maturity date	May 18, 2020
Swap fixed interest rate	1.62%
Fair value asset (liability)		$ 24

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Derivative Instruments, Gain (Loss) Recognized (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Derivative Instruments Gain Loss Recognized [Abstract]
Net Unrealized Gain (Loss) Recognized in Other Comprehensive Income (Loss)	$ 33	$ (3,298)	$ (48,628)	$ (16,966)
Net Unrealized Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) to Interest and Other Expense, net	$ (2,706)	$ 895	$ (5,006)	$ 3,391

Related Parties - Additional In

Related Parties - Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Aircraft Owned by Executive Officers [Member] | General and Administrative Expenses [Member]
Related Parties Details [Line Items]
Related Party Transaction, Amounts of Transaction	$ 100,000	$ 100,000
Reimbursement Received From Related Parties For Their Proportionate Share of Staffing and Office Related Costs Provided by Apple Hospitality [Member]
Related Parties Details [Line Items]
Related Party Transaction, Amounts of Transaction	(900,000)	$ (900,000)
Due from related parties	$ 300,000		$ 500,000
Cost Sharing Arrangement [Member]
Related Parties Details [Line Items]
Related party transaction, Description of transaction	To efficiently manage cash disbursements, the Company or ARG may make payments for the other company. Under this cash management process, each company may advance or defer up to $1 million at any time. Each quarter, any outstanding amounts are settled between the companies. This process allows each company to minimize its cash on hand and reduces the cost for each company. The amounts outstanding at any point in time are not significant to either of the companies.
Cost Sharing Arrangement [Member] | Maximum [Member]
Related Parties Details [Line Items]
Related Party Transaction, Amounts of Transaction	$ 1,000,000

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended			9 Months Ended		12 Months Ended
	Jan. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Aug. 12, 2020	May 31, 2020
Shareholders Equity Details [Line Items]
Annual distribution rate							$ 1.20
Common stock, dividends, per share, cash paid					$ 0.30	$ 0.90
Payments of ordinary dividends, common stock	$ 22,400,000				$ 67,324,000	$ 201,497,000
Stock repurchase program, authorized amount									$ 345,000,000
Share repurchase program, end date					July 2021
Number of shares repurchased		0	0		1,500,000	300,000
Stock repurchased value per share					$ 9.42	$ 14.92
Stock repurchased value				$ 239,000	$ 14,336,000	$ 4,335,000
ATM Program Executed August 12, 2020 [Member]
Shareholders Equity Details [Line Items]
Stock issuance program, authorized amount								$ 300,000,000

Compensation Plans - Additional

Compensation Plans - Additional Information (Details)	Sep. 30, 2020USD ($)	Apr. 01, 2020USD ($)Officershares	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)Agreement	Sep. 30, 2019USD ($)
New Officer Share-based Payment Arrangement [Member]
Compensation Plans Details [Line Items]
Number of new officers | Officer		5
Share based compensation, net (in Shares) | shares		200,000
Total share-based compensation earned, including the surrendered shares (in millions)		$ 1,800,000
Restricted common shares vesting date		Mar. 31, 2023
Restriction period		3 years
Share-based compensation expense			$ 100,000		$ 300,000
2020 Executive Management Incentive Plan [Member]
Compensation Plans Details [Line Items]
Incentive compensation, description					The operational performance metrics are equally weighted and account for 50% of the total target incentive compensation. The shareholder return metrics are weighted 75% for relative shareholder return metrics and 25% for total shareholder return metrics, and account for 50% of the total target incentive compensation.
Operational performance metrics accounted for total target incentive compensation, percentage					50.00%
Percentage of relative shareholder return metrics on shareholder return metrics					75.00%
Percentage of total shareholder return metrics on shareholder return metrics					25.00%
Shareholder return metrics accounted for total target incentive compensation, percentage					50.00%
Labor and related expense			1,500,000		$ 4,000,000
Accrued liability for potential executive bonus payments	$ 4,000,000		4,000,000		$ 4,000,000
Portion of awards paid in cash					25.00%
Portion of awards issued in equity	100.00%				75.00%
2020 Executive Management Incentive Plan [Member] | Equity Awards Vesting At The End Of 2020 [Member]
Compensation Plans Details [Line Items]
Share-based compensation arrangement, vesting description					two-thirds
Vesting percentage					50.00%
2020 Executive Management Incentive Plan [Member] | Equity Awards Vesting In December 2021 [Member]
Compensation Plans Details [Line Items]
Share-based compensation arrangement, vesting description					one-third
Vesting percentage					50.00%
2019 Executive Management Incentive Plan [Member]
Compensation Plans Details [Line Items]
Labor and related expense				$ 3,100,000		$ 7,800,000
Potential Aggregate Payout [Member] | 2020 Executive Management Incentive Plan [Member] | Minimum [Member]
Compensation Plans Details [Line Items]
Labor and related expense					$ 0
Voluntary reduction					0
Potential Aggregate Payout [Member] | 2020 Executive Management Incentive Plan [Member] | Maximum [Member]
Compensation Plans Details [Line Items]
Labor and related expense					13,900,000
Voluntary reduction					$ 5,200,000
One-Time Payment Under Separation Agreement [Member]
Compensation Plans Details [Line Items]
Number of separation agreements | Agreement					2
One-Time Payment Under Separation Agreement [Member] | Retirement of Executive Vice President and Chief Financial Officer [Member]
Compensation Plans Details [Line Items]
Labor and related expense					$ 1,250,000
Other employee-related liabilities, current	$ 1,250,000		1,250,000		1,250,000
One-Time Payment Under Separation Agreement [Member] | Retirement of Executive Vice President and Chief Operating Officer [Member]
Compensation Plans Details [Line Items]
Labor and related expense					1,250,000
Other employee-related liabilities, current	1,250,000		1,250,000		1,250,000
One-Time Payment Under Separation Agreement [Member] | Retirements of Executive Vice President and Chief Operating Officer; and Executive Vice President and Chief Financial Officer [Member]
Compensation Plans Details [Line Items]
Labor and related expense					2,500,000
Other employee-related liabilities, current	$ 2,500,000		$ 2,500,000		$ 2,500,000
One-Time Payment Under Separation Agreement [Member] | Retirement of Executive Vice President and Chief Legal Officer [Member]
Compensation Plans Details [Line Items]
Labor and related expense						$ 500,000

Compensation Plans - Informatio

Compensation Plans - Information Pertaining to Share-based Compensation Issued (Details) - Share Based Compensation [Member] $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)$ / sharesshares
2019 Executive Management Incentive Plan [Member] | Equity Awards Issued in the First Quarter of 2020 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Period common shares issued	First Quarter 2020
Common shares earned under each incentive plan	665,552
Common shares surrendered on issuance date to satisfy tax withholding obligations	60,616
Common shares earned and issued under each incentive plan, net of common shares surrendered on issuance date to satisfy tax withholding obligations	604,936
Closing stock price on issuance date | $ / shares	$ 13.01
Total share-based compensation earned, including the surrendered shares (in millions) | $	$ 8.7	[1]
Of the total common shares earned and issued, total common shares unrestricted at time of issuance	426,553
Of the total common shares earned and issued, total common shares restricted at time of issuance	178,383
Restricted common shares vesting date	Dec. 11, 2020
Common shares surrendered on vesting date to satisfy tax withholding requirements resulting from vesting of restricted common shares
2018 Executive Management Incentive Plan [Member] | Equity Awards Issued in the First Quarter of 2019 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Period common shares issued	First Quarter 2019
Common shares earned under each incentive plan	156,926
Common shares surrendered on issuance date to satisfy tax withholding obligations	24,999
Common shares earned and issued under each incentive plan, net of common shares surrendered on issuance date to satisfy tax withholding obligations	131,927
Closing stock price on issuance date | $ / shares	$ 16.49
Total share-based compensation earned, including the surrendered shares (in millions) | $	$ 2.6	[2]
Of the total common shares earned and issued, total common shares unrestricted at time of issuance	105,345
Of the total common shares earned and issued, total common shares restricted at time of issuance	26,582
Restricted common shares vesting date	Dec. 13, 2019
Common shares surrendered on vesting date to satisfy tax withholding requirements resulting from vesting of restricted common shares	5,502
[1]	Of the total 2019 share-based compensation, approximately $7.5 million was recorded as a liability as of December 31, 2019 December 31, 2019
[2]	Of the total 2018 share-based compensation, approximately $0.2 million, which vested on December 13, 2019, was recognized as share-based compensation expense proportionately throughout 2019. For the three and nine months ended September 30, 2019, the Company recognized approximately $0.04 million and $0.1 million, respectively, of share-based compensation expense related to restricted share awards.

Compensation Plans - Informat_2

Compensation Plans - Information Pertaining to Share-based Compensation Issued (Parenthetical) (Details) - Share Based Compensation [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
2019 Executive Management Incentive Plan [Member] | Equity Awards Issued in the First Quarter of 2020 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation recorded as liability					$ 7,500
Share-based compensation, subject to vesting					1,200
Share-based compensation expense	$ 300		$ 900
2018 Executive Management Incentive Plan [Member] | Equity Awards Issued in the First Quarter of 2019 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense		$ 40		$ 100	$ 200

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) $ in Millions	1 Months Ended
	Oct. 31, 2020USD ($)Room	Sep. 30, 2020Room
Subsequent Event [Line Items]
Aggregate number of hotel rooms		30,023
Subsequent Event [Member] | Hotels Under Sale Contract [Member] | Homewood Suites Charlotte, NC [Member]
Subsequent Event [Line Items]
Aggregate number of hotel rooms	118
Purchase and sale agreement, gross sales price | $	$ 10.3