Chatham Lodging Trust (CLDT) 10-K 24 Feb 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 24, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-34693
Entity Registrant Name	CHATHAM LODGING TRUST
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	27-1200777
Entity Address, Address Line One	222 Lakeview Avenue, Suite 200
Entity Address, City or Town	West Palm Beach
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33401
City Area Code	561
Local Phone Number	802-4477
Title of 12(b) Security	Common Shares of Beneficial Interest, par value $0.01 per share
Trading Symbol	CLDT
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 281,453,678
Entity Common Stock, Shares Outstanding (in shares)		47,014,403
Documents Incorporated by Reference	Portions of the registrant's Definitive Proxy Statement for its 2021 Annual Meeting of Shareholders (to be filed with the Securities and Exchange Commission on or before A pril 30, 2021 ) are incorporated by reference into this Annual Report on Form 10-K in response to Part III hereof.
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Central Index Key	0001476045

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets:
Investment in hotel properties, net	$ 1,265,174	$ 1,347,116
Investment in hotel properties under development	43,651	20,496
Cash and cash equivalents	21,124	6,620
Restricted cash	10,329	13,562
Investment in unconsolidated real estate entities	0	17,969
Right of use asset, net	20,641	21,270
Hotel receivables (net of allowance for doubtful accounts of $248 and $451, respectively)	1,688	4,626
Deferred costs, net	5,384	4,271
Prepaid expenses and other assets	2,266	2,615
Deferred tax asset, net	0	29
Total assets	1,370,257	1,438,574
Liabilities and Equity:
Mortgage debt, net	460,145	495,465
Revolving credit facility	135,300	90,000
Construction loan	13,325	0
Accounts payable and accrued expenses	25,374	33,012
Distributions and losses in excess of investments of unconsolidated real estate entities	19,951	15,214
Lease liability, net	23,233	23,717
Distributions payable	469	6,142
Total liabilities	677,797	663,550
Commitments and contingencies (see note 14)
Shareholders’ Equity:
Preferred shares, $0.01 par value, 100,000,000 shares authorized and unissued at December 31, 2020 and 2019	0	0
Common shares, $0.01 par value, 500,000,000 shares authorized; 46,973,473 and 46,928,445 shares issued and outstanding at December 31, 2020 and 2019, respectively	470	469
Additional paid-in capital	906,000	904,273
Accumulated deficit	(228,718)	(142,365)
Total shareholders’ equity	677,752	762,377
Noncontrolling Interests:
Noncontrolling interest in operating partnership	14,708	12,647
Total equity	692,460	775,024
Total liabilities and equity	$ 1,370,257	$ 1,438,574

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Hotel receivables, allowance for doubtful accounts	$ 248	$ 451
Preferred shares, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred shares, shares authorized (in shares)	100,000,000	100,000,000
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, shares authorized (in shares)	500,000,000	500,000,000
Common shares, shares issued (in shares)	46,973,473	46,928,445
Common shares, shares outstanding (in shares)	46,973,473	46,928,445

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Supplemental Income Statement Elements [Abstract]
Total revenue	$ 144,916	$ 328,328	$ 324,230
Hotel operating expenses:
Total hotel operating expenses	95,498	174,251	170,562
Depreciation and amortization	53,871	51,505	48,169
Impairment loss on investment in unconsolidated real estate entities	15,282	0	0
Property taxes, ground rent and insurance	23,040	24,717	23,678
General and administrative	11,564	14,077	14,120
Other charges	4,385	1,441	3,806
Reimbursable costs from unconsolidated real estate entities	4,045	5,670	5,743
Total operating expenses	207,685	271,661	266,078
Operating (loss) income before gain (loss) on sale of hotel property	(62,769)	56,667	58,152
Gain (loss) on sale of hotel property	21,116	(3,282)	(18)
Operating (loss) income	(41,653)	53,385	58,134
Interest and other income	179	190	462
Interest expense net of amounts capitalized, including amortization of deferred fees	(28,122)	(28,247)	(26,878)
Loss from unconsolidated real estate entities	(7,424)	(6,448)	(876)
(Loss ) income before income tax expense	(77,020)	18,880	30,842
Income tax expense	0	0	28
Net (loss) income	(77,020)	18,880	30,870
Net (loss) income attributable to non-controlling interest	997	(177)	(229)
Net (loss) income attributable to common shareholders	$ (76,023)	$ 18,703	$ 30,641
(Loss) income per Common Share - Basic:
Net income attributable to common shareholders (in dollars per share)	$ (1.62)	$ 0.39	$ 0.66
(Loss) income per Common Share - Diluted:
Net income attributable to common shareholders (in dollars per share)	$ (1.62)	$ 0.39	$ 0.66
Weighted average number of common shares outstanding:
Basic (in shares)	46,961,039	46,788,784	46,073,515
Diluted (in shares)	46,961,039	47,023,280	46,243,660
Distributions per common share (in dollars per share)	$ 0.22	$ 1.32	$ 1.32
Room
Supplemental Income Statement Elements [Abstract]
Total revenue	$ 130,564	$ 296,267	$ 295,897
Hotel operating expenses:
Total hotel operating expenses	31,883	65,270	63,877
Food and beverage
Supplemental Income Statement Elements [Abstract]
Total revenue	2,718	9,824	8,880
Hotel operating expenses:
Total hotel operating expenses	2,456	8,396	7,312
Other
Supplemental Income Statement Elements [Abstract]
Total revenue	7,589	16,567	13,710
Reimbursable costs from unconsolidated real estate entities
Supplemental Income Statement Elements [Abstract]
Total revenue	4,045	5,670	5,743
Telephone
Hotel operating expenses:
Total hotel operating expenses	1,451	1,638	1,766
Other hotel operating
Hotel operating expenses:
Total hotel operating expenses	1,629	4,039	3,296
General and administrative
Hotel operating expenses:
Total hotel operating expenses	16,733	25,641	25,567
Franchise and marketing fees
Hotel operating expenses:
Total hotel operating expenses	11,608	25,850	24,864
Advertising and promotions
Hotel operating expenses:
Total hotel operating expenses	3,983	6,043	6,227
Utilities
Hotel operating expenses:
Total hotel operating expenses	9,229	10,867	10,835
Repairs and maintenance
Hotel operating expenses:
Total hotel operating expenses	9,799	14,321	14,710
Management fees
Hotel operating expenses:
Total hotel operating expenses	5,289	10,822	10,754
Insurance
Hotel operating expenses:
Total hotel operating expenses	$ 1,438	$ 1,364	$ 1,354

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Total Shareholders’ Equity	Common Shares	Additional Paid - In Capital	Accumulated Deficit	Noncontrolling Interest in Operating Partnership
Beginning Balance (in shares) at Dec. 31, 2017			45,375,266
Beginning Balance at Dec. 31, 2017	$ 809,780	$ 803,162	$ 450	$ 871,730	$ (69,018)	$ 6,618
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares pursuant to Equity Incentive Plan (in shares)			21,670
Issuance of shares pursuant to Equity Incentive Plan	500	500		500
Issuance of shares, net of offering costs (in shares)			1,135,095
Issuance of shares, net of offering costs	23,968	23,968	$ 15	23,953
Issuance of restricted time-based shares (in shares)			5,000
Issuance of restricted time-based shares	0
Amortization of share based compensation	3,710	103		103		3,607
Dividends declared on common shares	(60,908)	(60,908)			(60,908)
Distributions declared on LTIP units	(1,154)					(1,154)
Forfeited distributions on LTIP units	652					652
Net income (loss)	30,870	30,641			30,641	229
Ending Balance (in shares) at Dec. 31, 2018			46,537,031
Ending Balance at Dec. 31, 2018	807,418	797,466	$ 465	896,286	(99,285)	9,952
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares pursuant to Equity Incentive Plan (in shares)			27,870
Issuance of shares pursuant to Equity Incentive Plan	500	500		500
Issuance of shares, net of offering costs (in shares)			363,544
Issuance of shares, net of offering costs	7,091	7,091	$ 4	7,087
Issuance of restricted time-based shares (in shares)			0
Issuance of restricted time-based shares	0
Amortization of share based compensation	4,269	63		63		4,206
Dividends declared on common shares	(61,783)	(61,783)			(61,783)
Distributions declared on LTIP units	(1,351)					(1,351)
Reallocation of noncontrolling interest	0	337		337		(337)
Net income (loss)	18,880	18,703			18,703	177
Ending Balance (in shares) at Dec. 31, 2019			46,928,445
Ending Balance at Dec. 31, 2019	775,024	762,377	$ 469	904,273	(142,365)	12,647
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares pursuant to Equity Incentive Plan (in shares)			24,516
Issuance of shares pursuant to Equity Incentive Plan	450	450		450
Issuance of shares, net of offering costs (in shares)			20,512
Issuance of shares, net of offering costs	134	134	$ 1	133
Amortization of share based compensation	4,436	30		30		4,406
Dividends declared on common shares	(10,330)	(10,330)			(10,330)
Distributions declared on LTIP units	(234)					(234)
Reallocation of noncontrolling interest	0	1,114		1,114		(1,114)
Net income (loss)	(77,020)	(76,023)			(76,023)	(997)
Ending Balance (in shares) at Dec. 31, 2020			46,973,473
Ending Balance at Dec. 31, 2020	$ 692,460	$ 677,752	$ 470	$ 906,000	$ (228,718)	$ 14,708

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Stockholders' Equity [Abstract]
Issuance of shares, offering costs	$ 49	$ 209	$ 518
Common shares, dividend declared per share (in dollars per share)	$ 0.22	$ 1.32	$ 1.32
LTIP units, distributions per unit (in dollars per share)	$ 0.22	$ 1.32	$ 1.32

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net (loss) income	$ (77,020)	$ 18,880	$ 30,870
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	53,627	51,258	47,932
Amortization of deferred franchise fees	244	247	237
Amortization of deferred financing fees included in interest expense	1,275	912	902
(Gain) loss on sale of hotel property	(21,116)	3,282	18
Impairment loss on investment in unconsolidated real estate entities	15,282	0	0
Deferred tax expense (benefit)	29	29	(28)
Share based compensation	4,597	4,719	4,210
Accelerated share based compensation for employee severance	288	0	0
Loss from unconsolidated real estate entities	7,424	6,448	876
Changes in assets and liabilities:
Right of use asset	629	613
Hotel receivables	2,940	(102)	(437)
Deferred costs	(6)	(17)	(243)
Prepaid expenses and other assets	292	(308)	64
Accounts payable and accrued expenses	(7,962)	664	1,814
Lease liability	(484)	(391)
Net cash (used in) provided by operating activities	(19,961)	86,234	86,215
Cash flows from investing activities:
Improvements and additions to hotel properties	(14,487)	(35,859)	(31,417)
Investment in hotel properties under development	(23,155)	(12,224)	0
Acquisition of hotel properties, net of cash acquired	0	(8,171)	(70,020)
Proceeds from sale of hotel properties, net	64,448	8,987	0
Distributions from unconsolidated entities	0	2,692	5,036
Net cash provided by (used in) investing activities	26,806	(44,575)	(96,401)
Cash flows from financing activities:
Borrowings on revolving credit facility	86,000	74,500	149,000
Repayments on revolving credit facility	(40,700)	(66,000)	(99,500)
Borrowings on construction loan	13,325	0	0
Payments on mortgage debt	(35,744)	(6,695)	(4,899)
Payments of financing costs	(2,351)	(48)	(955)
Payment of offering costs	(49)	(209)	(518)
Proceeds from issuance of common shares	182	7,298	24,486
Distributions - common shares/units	(16,237)	(62,660)	(61,590)
Net cash provided by (used in) financing activities	4,426	(53,814)	6,024
Net change in cash, cash equivalents and restricted cash	11,271	(12,155)	(4,162)
Cash, cash equivalents and restricted cash, beginning of period	20,182	32,337	36,499
Cash, cash equivalents and restricted cash, end of period	31,453	20,182	32,337
Supplemental disclosure of cash flow information:
Cash paid for interest	28,119	27,274	25,328
Capitalized interest	1,473	445	0
Cash paid for income taxes	$ 328	$ 748	$ 887

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Cash Flows [Abstract]
Accrued distributions payable	$ 469	$ 6,142	$ 5,700
Accrued share based compensation	500	500	500
Accounts payable and accrued expenses	$ 4,500	$ 3,800	$ 2,400

Organization

Organization	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Chatham Lodging Trust (“we,” “us” or the “Company”) was formed as a Maryland real estate investment trust on October 26, 2009. The Company is internally-managed and was organized to invest primarily in upscale extended-stay and premium-branded select-service hotels. The Company has elected to be treated as a real estate investment trust for federal income tax purposes ("REIT"). The Company had no operations prior to the consummation of its initial public offering ("IPO") in April 2010. The net proceeds from our share offerings are contributed to Chatham Lodging, L.P., our operating partnership (the “Operating Partnership”), in exchange for partnership interests. Substantially all of the Company’s assets are held by, and all operations are conducted through, the Operating Partnership. The Company is the sole general partner of the Operating Partnership and owns 100% of the common units of limited partnership interest in the Operating Partnership ("common units"). Certain of the Company’s executive officers hold vested and unvested long-term incentive plan units in the Operating Partnership ("LTIP units"), which are presented as non-controlling interests on our consolidated balance sheets. As of December 31, 2020, the Company owned 39 hotels with an aggregate of 5,900 (unaudited) rooms located in 15 states and the District of Columbia (unaudited). As of December 31, 2020, the Company also (i) held a 10.3% noncontrolling interest in a joint venture (the “NewINK JV”) with affiliates of Colony Capital, Inc. ("CLNY"), which was formed in the second quarter of 2014 and currently owns 46 hotels acquired from a joint venture (the "Innkeepers JV") between the Company and Cerberus Capital Management (“Cerberus”), comprising an aggregate of 5,948 (unaudited) rooms, (ii) held a 10.0% noncontrolling interest in a separate joint venture (the "Inland JV") with CLNY, which was formed in the fourth quarter of 2014 which owns 48 hotels acquired from Inland American Real Estate Trust, Inc. ("Inland"), comprising an aggregate of 6,402 (unaudited) rooms. As of December 31, 2020, the Inland JV hotels are in receivership. We sometimes use the term, "JVs", which refers collectively to the NewINK JV and Inland JV. To qualify as a REIT, the Company cannot operate its hotels. Therefore, the Operating Partnership and its subsidiaries lease the Company's wholly owned hotels to taxable REIT subsidiary lessees (“TRS Lessees”), which are wholly owned by the Company’s taxable REIT subsidiary (“TRS”) holding company. The Company indirectly (i) owns its 10.3% interest in the 46 NewINK JV hotels and (ii) owns its 10.0% interest in the 48 of the Inland JV hotels through the Operating Partnership. All of the NewINK JV hotels and Inland JV hotels are leased to TRS Lessees, in which the Company indirectly owns noncontrolling interests through its TRS holding company. Each hotel is leased to a TRS Lessee under a percentage lease that provides for rental payments equal to the greater of (i) a fixed base rent amount or (ii) a percentage rent based on hotel room revenue. The initial term of each of the TRS leases is 5 years. Lease revenue from each TRS Lessee is eliminated in consolidation.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements and related notes have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and in conformity with the rules and regulations of the Securities and Exchange Commission (“SEC”). These consolidated financial statements, in the opinion of management, include all adjustments consisting of normal, recurring adjustments which are considered necessary for a fair statement of the consolidated balance sheets, consolidated statements of operations, consolidated statements of equity, and consolidated statements of cash flows for the periods presented. The consolidated financial statements include all of the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions are eliminated in consolidation. Reclassifications In accordance with the SEC’s Disclosure Update and Simplification release, dated August 18, 2018, the Company presented the Gain (loss) on sale of hotel property line on the Company’s Consolidated Statements of Operations within Operating income for all periods presented. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Fair Value of Financial Instruments The Company’s financial instruments include cash and cash equivalents, restricted cash, hotel receivables, accounts payable and accrued expenses, distributions payable, mortgage debt and revolving credit facility. Due to their relatively short maturities, the carrying values reported in the consolidated balance sheets for these financial instruments approximate fair value except for mortgage debt and the revolving credit facility the fair value of which is separately disclosed in Note 7. Investment in Hotel Properties The Company allocates the purchase prices of hotel properties acquired based on the fair value of the acquired real estate, furniture, fixtures and equipment, identifiable intangible assets and assumed liabilities. In making estimates of fair value for purposes of allocating the purchase price, the Company utilizes a number of sources of information that are obtained in connection with the acquisition of a hotel property, including valuations performed by independent third parties and information obtained about each hotel property resulting from pre-acquisition due diligence. The Company’s investments in hotel properties are carried at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, generally 40 years for buildings, 20 years for land improvements, 5 to 20 years for building improvements and one Management periodically reviews its hotel properties for impairment whenever events or changes in circumstances indicate that the carrying value of the hotel properties may not be recoverable over management's estimated holding period. This estimated holding period incorporates management’s intent and ability to hold the hotel properties over the estimated holding period. Events or circumstances that may cause a review include, but are not limited to, adverse changes in the demand for lodging at the properties due to declining national or local economic conditions and/or new hotel construction in markets where the hotels are located. When such conditions exist and management has identified uncertainty surrounding the recoverability of the hotel property carrying value, management will perform an analysis to determine if the estimated undiscounted future cash flows, without interest charges, from operations and the estimated proceeds from the ultimate disposition of a hotel property exceed its carrying value. If the estimated undiscounted future cash flows are less than the carrying amount, an adjustment to reduce the carrying amount to the related hotel property's estimated fair market value is recorded and an impairment loss recognized. For the years ended December 31, 2020 and 2019, there were no impairment losses. For properties the Company considers held for sale, depreciation and amortization are no longer recorded and the value the properties is recorded at the lower of depreciated cost or fair value, less costs to sell. If circumstances arise that were previously considered unlikely, and, as a result, the Company decides not to sell a property previously classified as held for sale, the Company will reclassify such property as held and used. Such property is measured at the lower of its carrying amount (adjusted for any depreciation and amortization expense that would have been recognized had the property been continuously classified as held and used) or fair value at the date of the subsequent decision not to sell. The Company classifies properties as held for sale when all criteria within the Financial Accounting Standards Board's ("FASB") guidance on disposal of long-lived assets are met. As of December 31, 2020 and 2019 the Company had no hotel properties held for sale. Investment in Unconsolidated Real Estate Entities If it is determined that the Company does not have a controlling interest in a joint venture, either through its financial interest in a variable interest entity ("VIE") or in a voting interest entity, but does have the ability to exercise significant influence, the equity method of accounting is used. Under this method, the investment, originally recorded at cost, is adjusted to recognize the Company’s share of net earnings or losses of the affiliates as they occur rather than as dividends or other distributions are received, advances to and commitments for the investee. Investments in unconsolidated real estate entities are accounted for under the equity method of accounting and the Company records its equity in earnings or losses under the hypothetical liquidation of book value (“HLBV”) method of accounting due to the structures and the preferences we receive on the distributions from our joint ventures pursuant to the respective joint venture agreements for those joint ventures. Under this method, the Company recognizes income and loss in each period based on the change in liquidation proceeds it would receive from a hypothetical liquidation of its investment based on depreciated book value. Therefore, income or loss may be allocated disproportionately as compared to the ownership percentages due to specified preferred return rate thresholds and may be more or less than actual cash distributions received and more or less than what the Company may receive in the event of an actual liquidation. In the event a basis difference is created between the carrying amount of the Company's share of partner's capital, the resulting amount is allocated based on the assets of the investee and, if assigned to depreciable or amortizable assets, then amortized as a component of income (loss) from unconsolidated real estate entities. The Company periodically reviews the carrying value of its investment in unconsolidated joint ventures to determine if circumstances indicate impairment to the carrying value of the investment that is other than temporary. When an impairment indicator is present, the Company will estimate the fair value of the investment. The Company’s estimate of fair value takes into consideration factors such as expected future operating income, trends and prospects, as well as other factors. This determination requires significant estimates by management, including the expected cash flows to be generated by the assets owned and operated by the joint venture. To the extent impairment has occurred and is other than temporary, the loss will be measured as the excess of the carrying amount over the fair value of the Company’s investment in the unconsolidated joint venture. As of December 31, 2020, the Company recorded an impairment of the entire carrying value of $15.3 million on our investment in the Inland JV related to a decline in operating performance caused by the COVID-19 pandemic (See Note 6). The Company evaluates the nature of the distributions from each of its unconsolidated joint ventures in order to classify the distributions as either operating activities or investing activities in the consolidated statements of cash flows. Any cash distribution that is considered to be a distribution of the earnings of the unconsolidated joint venture is presented as an operating activity in the consolidated statements of cash flows. Any cash distribution that is considered to be a return of capital from the unconsolidated joint venture is presented as an investing activity in the consolidated statements of cash flows. Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand, demand deposits with financial institutions and short term liquid investments with an original maturity of three months or less. Cash balances in individual banks may exceed federally insurable limits. Restricted Cash Restricted cash represents purchase price deposits held in escrow for potential hotel acquisitions under contract and escrows for reserves such as reserves for capital expenditures, property taxes or insurance that are required pursuant to the Company’s loans or hotel management agreements. Restricted cash on the accompanying consolidated balance sheets at December 31, 2020 and 2019 is $10.3 million and $13.6 million, respectively. Hotel Receivables Hotel receivables consist of amounts owed by guests staying in the hotels and amounts due from business and group customers. An allowance for doubtful accounts is provided and maintained at a level believed to be adequate to absorb estimated probable losses. At December 31, 2020 and 2019, the allowance for doubtful accounts was $0.2 million and $0.5 million, respectively. Deferred Costs Deferred costs consist of franchise agreement application fees for the Company’s hotels, costs associated with potential future acquisitions and loan costs related to the Company’s senior unsecured revolving credit facility. Deferred costs consisted of the following at December 31, 2020 and 2019 (in thousands): December 31, 2020 December 31, 2019 Loan costs $ 4,455 $ 2,104 Franchise fees 4,311 4,409 Other 75 129 8,841 6,642 Less accumulated amortization (3,457) (2,371) Deferred costs, net $ 5,384 $ 4,271 Franchise fees are recorded at cost and amortized over a straight-line basis over the term of the franchise agreements. For the years ended December 31, 2020, 2019 and 2018, amortization expense related to franchise fees of $0.2 million, $0.2 million and $0.2 million, respectively, is included in depreciation and amortization in the consolidated statements of operations. Amortization expense related to loan costs of $0.9 million, $0.5 million and $0.5 million for the years ended December 31, 2020, 2019 and 2018, respectively, is included in interest expense in the consolidated statements of operations. Mortgage Debt, net Mortgage debt, net consists of mortgage loans on certain hotel properties less the costs associated with acquiring those loans. Mortgage debt consisted of the following at December 31, 2020 and 2019 (in thousands): December 31, 2020 December 31, 2019 Mortgage debt $ 461,116 $ 496,860 Deferred financing costs (971) (1,395) Mortgage debt, net $ 460,145 $ 495,465 Deferred financing loan costs are recorded at cost and amortized over the term of the loan applying the effective interest rate method. For the years ended December 31, 2020, 2019 and 2018, amortization expense related to mortgage loan costs of $0.4 million, $0.4 million, $0.4 million, respectively, is included in interest expense in the consolidated statement of operations. Prepaid Expenses and Other Assets The Company’s prepaid expenses and other assets consist of prepaid insurance, prepaid property taxes, deposits and hotel supplies inventory. Distributions and Losses in Excess of Investments in Unconsolidated Real Estate Entities At times, certain of the Company’s investments in unconsolidated entities' share of cumulative allocated losses and cash distributions received exceeds its cumulative allocated share of income and equity contributions. Although the Company typically does not make any guarantees of its investments in unconsolidated real estate entities other than certain customary non-recourse carve-out provisions, due to potential penalties along with potential upside from future financial returns, the Company generally intends to make any required capital contributions to maintain its ownership percentage and as such will record its share of cumulative allocated losses and cash distributions below zero. As a result, the carrying value of certain investments in unconsolidated entities is negative. Unconsolidated entities with negative carrying values are included in cash distributions and losses in excess of investments in unconsolidated entities in the Company’s consolidated balance sheets. Revenue Recognition Revenue from hotel operations is recognized when rooms are occupied and when services are provided. Revenue consists of amounts derived from hotel operations, including sales from room, meeting room, gift shop, in-room movie and other ancillary amenities. Sales, use, occupancy, and similar taxes are collected and presented on a net basis (excluded from revenue) in the accompanying consolidated statements of operations. Cash received prior to customer arrival is recorded as an advanced deposit from the customer and is recognized as revenue at the time of occupancy. Room revenue is generate through short-term contracts with customers whereby customers agree to pay a daily rate for the right to occupy hotel rooms for one or more nights. Our performance obligations are fulfilled at the end of each night that the customers have the right to occupy the rooms. Room revenues are recognized daily at the contracted room rate in effect for each room night. Food and beverage revenues are generated when customers purchase food and beverage at a hotel's restaurant, bar or other facilities. Our performance obligations are fulfilled at the time that food and beverage is purchased and provided to our customers. Other revenues such as for parking, cancellation fees, meeting space or telephone services are recognized at the point in time or over the time period that the associated good or service is provided. Share-Based Compensation The Company measures compensation expense for the restricted share awards based upon the fair market value of its common shares at the date of grant. The Company measures compensation expense for the LTIP and Class A Performance units based upon the Monte Carlo approach using volatility, dividend yield and a risk free interest rate in the valuation. Compensation expense is recognized on a straight-line basis over the vesting period and is included in general and administrative expense in the accompanying consolidated statements of operations. The Company pays dividends on vested and non-vested restricted shares, except for performance-based shares, for which dividends on unvested shares are not paid until those shares are vested. The Company has also issued Class A Performance LTIP units from time to time as part of its compensation practices. Prior to vesting, holders of Class A Performance LTIP Units will not be entitled to vote their Class A Performance LTIP units. In addition, under the terms of the Class A Performance LTIP units, a holder of a Class A Performance LTIP unit will generally (i) be entitled to receive 10% of the distributions made on a common unit of the Operating Partnership during the period prior to vesting of such Class A Performance LTIP unit (the “Pre-Vesting Distributions”), (ii) be entitled, upon the vesting of such Class A Performance LTIP unit, to receive a special one-time “catch-up” distribution equal to the aggregate amount of distributions that were paid on a common unit during the period prior to vesting of such Class A Performance LTIP unit minus the aggregate amount of Pre-Vesting Distributions paid on such Class A Performance LTIP unit, and (iii) be entitled, following the vesting of such Class A Performance LTIP unit, to receive the same amount of distributions paid on a common unit of the Operating Partnership. Earnings Per Share A two class method is used to determine earnings per share. Basic earnings per share ("EPS") is computed by dividing net income (loss) available for common shareholders, adjusted for dividends on unvested share grants, by the weighted average number of common shares outstanding for the period. Diluted EPS is computed by dividing net income (loss) available for common shareholders, adjusted for dividends or distributions, on unvested share grants and LTIP units, by the weighted average number of common shares outstanding plus potentially dilutive securities such as share grants or shares issuable in the event of conversion of common units. No adjustment is made for shares that are anti-dilutive during the period. The Company’s restricted share awards and LTIP units that are subject solely to time-based vesting conditions are entitled to receive dividends or distributions on the Company's common shares or the Operating Partnership's common units, respectively, if declared. In addition, dividends on the Class A Performance LTIP units are paid the equivalent of 10% of the declared dividends on the Company's common shares. The rights to these dividends or distributions declared are non-forfeitable. As a result, the unvested restricted shares and LTIP units that are subject solely to time-based vesting conditions, as well as 10% of the unvested Class A Performance LTIP units, qualify as participating securities requiring the allocation of earnings under the two-class method to calculate EPS. The percentage of earnings allocated to these participating securities is based on the proportion of the weighted average of these outstanding participating securities to the sum of the basic weighted average common shares outstanding and the weighted average of these outstanding participating securities. Basic EPS is then computed by dividing income less earnings allocable to these participating securities by the basic weighted average number of shares outstanding. Diluted EPS is computed similar to basic EPS, except the weighted average number of shares outstanding is increased to include the effect of potentially dilutive securities. Income Taxes The Company elected to be taxed as a REIT for federal income tax purposes. In order to qualify as a REIT under the Internal Revenue Code of 1986, as amended, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its annual REIT taxable income to its shareholders (which is computed without regard to the dividends paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax to the extent the Company distributes its REIT taxable income to its shareholders. If the Company fails to qualify as a REIT in any taxable year, the Company will be subject to federal income tax on its REIT taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four The Company leases its wholly owned hotels to TRS Lessees, which are wholly owned by the Company’s taxable REIT subsidiary (a “TRS”) which, in turn is wholly owned by the Operating Partnership. Additionally, the Company indirectly owns its interest in the hotels owned by the NewINK JV (46 hotels) and the Inland JV (48 hotels) through the Operating Partnership. All of the NewINK JV hotels and Inland JV hotels are leased to TRS Lessees in which the Company indirectly owns a noncontrolling interests through its TRS holding company. The TRS is subject to federal and state income taxes and the Company accounts for taxes, where applicable, in accordance with the provisions of FASB Accounting Standards Codification 740 using the asset and liability method which recognizes deferred tax assets and liabilities for future tax consequences arising from differences between financial statement carrying amounts and income tax bases. The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases, and for net operating loss, capital loss and tax credit carryforwards. The deferred tax assets and liabilities are measured using the enacted income tax rates in effect for the year in which those temporary differences are expected to be realized or settled. The effect on the deferred tax assets and liabilities from a change in tax rates is recognized in earnings in the period when the new rate is enacted. However, deferred tax assets are recognized only to the extent that it is more likely than not that they will be realized based on consideration of all available evidence, including the future reversals of existing taxable temporary differences, future projected taxable income and tax planning strategies. Valuation allowances are provided if, based upon the weight of the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company performs an annual review for any uncertain tax positions and, if necessary, will record the expected future tax consequences of uncertain tax positions in the consolidated financial statements. As of December 31, 2020, the Company is no longer subject to U.S federal income tax examinations for years before 2017 and with few exceptions to state examinations before 2017. The Company evaluates whether a tax position of the Company is more likely than not to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. For tax positions meeting the more likely than not threshold, the tax amount recognized in the financial statements is reduced by the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant taxing authority. The Company has reviewed its tax positions for open tax years and has concluded no provision for income taxes is required in the Company's consolidated financial statements as of December 31, 2020. Interest and penalties related to uncertain tax benefits, if any, in the future will be recognized as operating expense. During the third quarter of 2018, management was notified that the Company's TRS was going to be examined by the Internal Revenue Service for the tax year ended December 31, 2016. The examination remains open. The Company believes it does not need to record a liability related to matters contained in the tax period open to examination. However, should the Company experience an unfavorable outcome in the matter, such outcome could have a material impact on its results of operations, financial position and cash flows. Leases On January 1, 2019, the Company adopted accounting guidance under Accounting Standards Codification (ASU) 2016-02 (“ASU 2016-02”), Leases , which relates to the accounting for leasing transactions. On February 25, 2016, the FASB issued updated accounting guidance which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e., lessees and lessors). The new accounting guidance requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on whether or not the lease is effectively a financed purchase by the lessee. The classification of the lease will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases. The Company adopted the new accounting guidance on January 1, 2019 and applied it based on the optional transition method provided for, which allows entities to recognize a cumulative-effect adjustment to the balance sheet on the adoption date. Upon adoption, the Company applied the package of practical expedients made available under the new accounting guidance and also make an accounting policy election to not recognize right-of-use assets or lease liabilities for leases with terms of 12 months or less. For the ground lease agreements and corporate office lease agreement, all of which are currently accounted for as operating leases, the Company recognized lease liabilities of $25.7 million with corresponding right-of use assets of $23.1 million on our consolidated balance sheet as of January 1, 2019. Segment Information Management evaluates the Company's hotels as a single industry segment because all of the hotels have similar economic characteristics and provide similar services to similar types of customers. Recently Issued Accounting Standards On January 1, 2018, the Company adopted accounting guidance under Accounting Standards Codification (ASU) Topic 2014-09, " Revenue from Contracts with Customers " on a modified retrospective basis. Our current revenue streams are not affected under the new model and we did not recognize a cumulative effect adjustment as part of the modified retrospective method of adoption. Furthermore, the new accounting guidance will not materially impact the recognition of or the accounting for disposition of hotels since we primarily dispose of hotels to third parties in exchange for cash with few contingencies. As it relates to capitalization of costs to acquire customer contracts, the Company has elected to use the Financial Accounting Standards Board's ("FASB") practical expedient which allows us to expense costs to acquire customer contracts as they are incurred due to their short-term nature for a specified number of nights that never exceed one year. This guidance applies to all contracts as of the adoption date. The Company has applied all relevant disclosures of this standard. On January 1, 2018, the Company adopted accounting guidance under 2016-15 ("ASU 2016-15"), Classification of Certain Cash Receipts and Cash Payments, which clarifies and provides specific guidance on eight cash flow classification issues with an objective to reduce the current diversity in practice. The Company has certain cash payments and receipts related to debt extinguishment that are affected by the new standard. The Company has historically classified distributions received from equity method investments under the cumulative earnings approach. As such, there was no impact due to application of the new guidance. The Company applied the new guidance on a retrospective basis. On January 1, 2018, the Company adopted accounting guidance under ASU 2016-18 ("ASU 2016-18"), Restricted Cash, which requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. This standard addresses presentation of restricted cash in the consolidated statements of cash flows only. Restricted cash represents purchase price deposits held in escrow for potential hotel acquisitions under contract and escrow reserves such as reserves for capital expenditures, property taxes or insurance that are required pursuant to the Company's loans. The Company applied the new guidance on a retrospective basis. In August 2018, the SEC issued SEC Final Rule 33-10532, Disclosure Update and Simplification. The amendments simplify or eliminate duplicative, overlapping, or outdated disclosure requirements. The amendments also add certain disclosure requirements, such as requiring entities to disclose the current and comparative quarter and year-to-date changes in shareholders' equity for interim periods. The amended rules are effective for reports filed on or after November 5, 2018. However, the SEC issued Compliance & Disclosure Interpretation 105.09 that allows entities to defer the adoption of the new disclosure requirement relating to changes in shareholders' equity for interim periods until the Form 10-Q for the quarterly period that begins after November 5, 2018. The Company adopted the new disclosure requirement relating to changes in shareholders' equity for interim periods on January 1, 2019. Based on the Company's assessment, the adoption of the new disclosures did not have a material impact on the Company's consolidated financial statements.

Acquisition of Hotel Properties

Acquisition of Hotel Properties	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Acquisition of Hotel Properties	Acquisition of Hotel Properties Hotel Purchase Price Allocation We acquired the Residence Inn Summerville ("RI Summerville") hotel in Summerville, SC for $20.8 million on August 27, 2018 and the Dallas Downtown Courtyard ("Dallas DT") hotel in Dallas, TX for $49.0 million on December 5, 2018. The allocation of the purchase price of each of the hotels acquired by the Company, based on the fair value on the date of its acquisition, dollars (in thousands): RI Summerville Dallas DT Total Acquisition date 8/27/2018 12/5/2018 Number of rooms (unaudited) 96 167 263 Land $ 2,300 $ 2,900 $ 5,200 Building and improvements 17,060 42,760 59,820 Furniture, fixtures and equipment 1,234 3,340 4,574 Cash — 5 5 Accounts receivable — 8 8 Prepaid expenses and other assets — 68 68 Accounts payable and accrued expenses (9) (33) (42) Net assets acquired, net of cash $ 20,585 $ 49,043 $ 69,628 The value of the assets acquired was primarily based on a sales comparison approach (for land) and a depreciated replacement cost approach (for building and improvements and furniture, fixtures and equipment). The sales comparison approach uses inputs of recent land sales in the respective hotel markets. The depreciated replacement cost approach uses inputs of both direct and indirect replacement costs using a nationally recognized authority on replacement cost information as well as the age, square footage and number of rooms of the respective assets. Property acquisition costs of $0.1 million were capitalized in 2019. The amount of revenue and operating income from the hotels acquired in 2018 from their respective date of acquisition through December 31, 2020 is as follows (in thousands): For the Year Ended December 31, 2020 For the Year Ended December 31, 2019 Acquisition Date Revenue Operating Income Revenue Operating Income Residence Inn Summerville, SC 8/27/18 $ 2,968 $ 903 $ 3,645 $ 1,250 Courtyard Dallas Downtown, TX 12/05/18 3,574 838 7,833 2,479 Total $ 6,542 $ 1,741 $ 11,478 $ 3,729 On July 2, 2019, the Company purchased a parcel of land in Silicon Valley, California for $8.1 million.

Disposition of Hotel Properties

Disposition of Hotel Properties	12 Months Ended
	Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Disposition of Hotel Properties	Disposition of Hotel Properties On November 24, 2020, the Company sold the Residence Inn Mission Valley hotel in San Diego, CA for $67.0 million and recognized a gain on the sale of the hotel property of $21.1 million. The balance of the mortgage loan of $26.7 million was repaid with proceeds from the sale. Additional proceeds were used to repay amounts outstanding on the Company's revolving credit facility. On May 7, 2019, the Company sold the Courtyard by Marriott hotel in Altoona, PA for $4.6 million and recognized a loss on the sale of the hotel property of $4.4 million. On May 15, 2019, the Company sold the SpringHill Suites by Marriott hotel in Washington, PA for $5.1 million and recognized a gain on the sale of the hotel property of $1.1 million. Proceeds from the sales were used to repay amounts outstanding on the Company's revolving credit facility. During the years ended December 31, 2020, 2019 and 2018, the Company's consolidated statements of operations included operating income related to the disposed hotels as follows: (in thousands): Operating Income For the years ended December 31, 2020 2019 2018 Residence Inn Mission Valley, CA $ 2,013 $ 4,782 $ 4,608 Courtyard Altoona, PA — 24 517 SpringHill Suites Washington, PA — 198 718 Total $ 2,013 $ 5,004 $ 5,843

Investment in Hotel Properties

Investment in Hotel Properties	12 Months Ended
	Dec. 31, 2020
Schedule of Investments [Abstract]
Investment in Hotel Properties	Investment in Hotel Properties Investment in hotel properties, net Investment in hotel properties, net as of December 31, 2020 and 2019 consisted of the following (in thousands): December 31, 2020 December 31, 2019 Land and improvements $ 287,049 $ 296,884 Building and improvements 1,195,276 1,216,849 Furniture, fixtures and equipment 84,381 81,707 Renovations in progress 11,225 31,589 1,577,931 1,627,029 Less: accumulated depreciation (312,757) (279,913) Investment in hotel properties, net $ 1,265,174 $ 1,347,116 Investment in hotel properties under development

Investment in Unconsolidated En

Investment in Unconsolidated Entities	12 Months Ended
	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Investment in Unconsolidated Entities	Investment in Unconsolidated Entities On June 9, 2014, the Company acquired a 10.3% interest in the NewINK JV, a joint venture between affiliates of NorthStar Realty Finance Corp. ("NorthStar") and the operating partnership. The Company accounts for this investment under the equity method. NorthStar merged with Colony Capital, Inc. ("Colony") on January 10, 2017 to form a new company, CLNY, which owns a 89.7% interest and the Company owns a 10.3% interest in the NewINK JV. The value of NewINK JV assets and liabilities were adjusted to reflect estimated fair market value at the time Colony merged with NorthStar. As of December 31, 2020 and December 31, 2019, the Company's share of partners' capital in the NewINK JV is approximately $2.7 million and $40.6 million, respectively, and the total difference between the carrying amount of the investment and the Company's share of partners' capital is approximately $22.7 million and $55.8 million (for which the basis difference related to amortizing assets is being recognized over the life of the related assets as a basis difference adjustment). The Company offset approximately $32.2 million of its share of the NewINK JV's impairment loss in the current year by its remaining basis difference in the NewINK JV. The Company serves as managing member of the NewINK JV. During the years ended December 31, 2020 and 2019, the Company received cash distributions from the NewINK JV as follows (in thousands): For the year ended December 31, 2020 2019 Cash generated from other activities and excess cash $ — $ 1,542 Total $ — $ 1,542 On November 17, 2014, the Company acquired a 10.0% interest in Inland JV, a joint venture between affiliates of NorthStar and the Operating Partnership. The Company accounts for this investment under the equity method. NorthStar merged with Colony Capital, Inc. ("Colony") on January 10, 2017 to form a new company, CLNY, which owns a 90.0% interest in the Inland JV. The values of Inland JV assets and liabilities were adjusted to reflect estimated fair market values at the time Colony merged with NorthStar. The Company serves as managing member of the Inland JV. During the years ended December 31, 2020 and 2019, the Company received cash distributions from the Inland JV as follows (in thousands): For the year ended December 31, 2020 2019 Cash generated from other activities and excess cash $ — $ 1,150 Total $ — $ 1,150 On May 9, 2017, the NewINK JV refinanced the $840.0 million loan collateralized by the 47 hotels with a new $850.0 million loan with an interest rate of LIBOR plus a spread of 2.79% and had an initial maturity of June 7, 2019 and three one one On April 7, 2020 and May 7, 2020, the NewINK JV failed to make debt service payments related to its $855.0 million loan. The servicer and lender subsequently agreed to fund the April 7, 2020 and May 7, 2020 interest payments for the senior portion of the loan from restricted cash balances that were originally escrowed to fund future capital expenditures. During the three months ended December 31, 2020, CLNY advanced $15.2 million to the NewINK JV. The NewINK JV used these funds, along with existing cash, to fund operating expenses, stay current on senior interest payments and make all late payments on its mezzanine debt. The NewINK JV is now current on all senior and mezzanine debt payments. The NewINK JV debt is non-recourse to the Company with the exception of customary non-recourse carve-out provisions such as fraud, material and intentional misrepresentations and misapplication of funds. A default under the NewINK loan agreement does not trigger a cross-default under any of the Company’s debt agreements. On June 9, 2017, the Inland JV refinanced the $817.0 million loan collateralized by the 48 hotels with a new $780.0 million non-recourse loan with Column Financial, Inc. On June 9, 2017, the Company contributed an additional $5.0 million of capital related to its share in the Inland JV to reduce the debt collateralized by the 48 hotels. The new loan bears interest at a rate of LIBOR plus a spread of 3.3%, has an initial maturity of July 9, 2019 and three one On April 9, 2020 the Inland JV failed to make a debt service payment related to its $780.0 million loan and has not made any of its subsequent monthly debt service payments. The failure to make the required debt service payments is an event of default under the Inland JV loan agreement. The Inland JV has not been successful in negotiating a forbearance agreement with its lenders. The Inland JV debt is non-recourse to the Company with the exception of customary non-recourse carve-out provisions such as fraud, material and intentional misrepresentations and misapplication of funds. A default under the Inland JV loan agreement does not trigger a cross-default under any of the Company’s debt agreements. At the direction of the special servicer for the Inland JV loan, control of Inland JV properties has transitioned to a court appointed receiver. The receiver, LW Hospitality Advisors, has replaced IHM with new hotel management companies. The Company’s ownership interests in the JVs are subject to change in the event that either the Company or CLNY calls for additional capital contributions to the respective JVs necessary for the conduct of business, including contributions to fund costs and expenses related to capital expenditures. In connection with (i) the non-recourse mortgage loan secured by the NewINK JV properties and the related non-recourse mezzanine loans secured by the membership interests in the owners of the NewINK JV properties and (ii) the non-recourse mortgage loan secured by the Inland JV properties, the Operating Partnership provided the applicable lenders with customary environmental indemnities, as well as guarantees of certain customary non-recourse carveout provisions such as fraud, material and intentional misrepresentations and misapplication of funds. In some circumstances, such as the bankruptcy of the applicable borrowers, the guarantees are for the full amount of the outstanding debt, but in most circumstances, the guarantees are capped at 15% of the debt outstanding at the time in question (in the case of the NewINK JV loans) or 20% of the debt outstanding at the time in question (in the case of the Inland JV loans). In connection with each of the NewINK JV and Inland JV loans, the Operating Partnership has entered into a contribution agreement with its JV partner whereby the JV partner is, in most cases, responsible to cover such JV partner’s pro rata share of any amounts due by the Operating Partnership under the applicable guarantees and environmental indemnities. The Company manages the JVs and will receive a promote interest in each applicable JV if it meets certain return thresholds for such JV. CLNY may also approve certain actions by the JVs without the Company’s consent, including certain property dispositions conducted at arm’s length, certain actions related to the restructuring of the applicable JV and removal of the Company as managing member in the event the Company fails to fulfill its material obligations under the applicable joint venture agreement. On September 24, 2020, CLNY announced that it had entered into an agreement to sell six of its hospitality portfolios, including the NewINK JV, in a transaction with a gross equity sale price of $67.5 million. The Inland JV is not included in this proposed transaction. CLNY has not disclosed a proposed allocation of the sale price among the six portfolios. On December 23, 2020, the Company entered in to an agreement with CLNY to sell the Company's interest in the NewINK JV for $2.8 million concurrent with the closing of the portfolio sales. The transaction is subject to closing conditions, including the assumption of debt by the purchaser. During the three months ended March 31, 2020, the Company determined that an other than temporary decline in the value of its equity investment in the Inland JV had occurred. The Inland JV’s operating performance has been significantly impacted by the COVID-19 pandemic. The Inland JV has high leverage, limited liquidity and limited ability to fund the current level of operating losses caused by the COVID-19 pandemic for a sustained period of time. Based on these factors, we have assessed that the fair market value of our equity investment in the Inland JV is zero and the Company did not consider the investment recoverable and therefore recorded an impairment of $15.3 million on the investment. Since the Company’s basis in the Inland JV is now zero and we expect that ongoing losses are not sustainable, we stopped recording any equity income or losses from the Inland JV as of March 31, 2020. The Company's investments in the NewInk JV and the Inland JV are $(20.0) million and $0.0 million, respectively, at December 31, 2020. The following tables sets forth the total assets, liabilities and equity and components of net income (loss), including the Company's share, related to all JVs for the years ended December 31, 2020, 2019 and 2018 (in thousands): Balance Sheet December 31, 2020 December 31, 2019 December 31, 2018 Assets Investment in hotel properties, net $ 1,604,501 $ 2,221,718 $ 2,309,396 Other assets 79,136 104,560 118,600 Total Assets $ 1,683,637 $ 2,326,278 $ 2,427,996 Liabilities Mortgages and notes payable, net $ 1,622,305 $ 1,612,217 $ 1,606,334 Other Liabilities 80,423 34,948 37,051 Total Liabilities 1,702,728 1,647,165 1,643,385 Equity Chatham Lodging Trust (1,835) 69,008 79,744 Joint Venture Partner (17,256) 610,105 704,867 Total Equity (19,091) 679,113 784,611 Total Liabilities and Equity $ 1,683,637 $ 2,326,278 $ 2,427,996 For the year ended December 31, 2020 2019 2018 Revenue $ 246,694 $ 496,485 $ 498,507 Total hotel operating expenses 216,846 329,879 329,756 Impairment loss 578,217 41,132 — Hotel operating income $ 29,848 $ 166,606 $ 168,751 Net loss from continuing operations $ (701,880) $ (76,869) $ (24,400) Loss on sale of hotels $ (15) $ (2,129) $ — Net loss $ (701,895) $ (78,998) $ (24,400) Loss allocable to the Company $ (8,420) $ (8,044) $ (2,472) Basis difference adjustment $ 996 $ 1,596 $ 1,596 Total loss from unconsolidated real estate entities attributable to Chatham $ (7,424) $ (6,448) $ (876)

Debt

Debt	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Debt	Debt The Company's mortgage loans are collateralized by first-mortgage liens on certain of the Company's properties. The mortgages are non-recourse except for instances of fraud or misapplication of funds. The Company's credit facility is secured by pledges of its equity interests in certain properties. Debt consisted of the following (in thousands): Loan/Collateral Interest Rate Maturity Date 12/31/20 Property Balance Outstanding as of December 31, 2020 December 31, Revolving Credit Facility (1) 3.07 % March 8, 2022 $ 608,319 $ 135,300 $ 90,000 Construction loan (2) 7.75 % August 4, 2024 43,651 13,325 — Residence Inn by Marriott New Rochelle, NY 5.75 % September 1, 2021 21,883 12,602 12,936 Residence Inn by Marriott San Diego, CA 4.66 % February 6, 2023 — — 27,272 Homewood Suites by Hilton San Antonio, TX 4.59 % February 6, 2023 28,622 15,195 15,563 Residence Inn by Marriott Vienna, VA 4.49 % February 6, 2023 30,996 20,780 21,291 Courtyard by Marriott Houston, TX 4.19 % May 6, 2023 30,152 17,126 17,559 Hyatt Place Pittsburgh, PA 4.65 % July 6, 2023 33,760 21,031 21,520 Residence Inn by Marriott Bellevue, WA 4.97 % December 6, 2023 62,419 42,998 43,857 Residence Inn by Marriott Garden Grove, CA 4.79 % April 6, 2024 41,246 31,463 32,053 Residence Inn by Marriott Silicon Valley I, CA 4.64 % July 1, 2024 75,680 63,418 64,406 Residence Inn by Marriott Silicon Valley II, CA 4.64 % July 1, 2024 83,931 69,192 70,270 Residence Inn by Marriott San Mateo, CA 4.64 % July 1, 2024 62,652 47,564 48,305 Residence Inn by Marriott Mountain View, CA 4.64 % July 1, 2024 48,563 37,092 37,670 SpringHill Suites by Marriott Savannah, GA 4.62 % July 6, 2024 33,349 29,358 29,817 Hilton Garden Inn Marina del Rey, CA 4.68 % July 6, 2024 38,044 20,490 20,931 Homewood Suites by Hilton Billerica, MA 4.32 % December 6, 2024 13,014 15,411 15,693 Hampton Inn & Suites Houston Medical Cntr., TX 4.25 % January 6, 2025 15,769 17,396 17,717 Total debt before unamortized debt issue costs $ 1,272,050 $ 609,741 $ 586,860 Unamortized mortgage debt issue costs (971) (1,395) Total debt outstanding 608,770 585,465 1. The interest rate for the revolving credit facility is variable and based on LIBOR (subject to a 0.5% floor) plus a spread of 2.50% if borrowings remain at or below $200 million and a spread of 3.0% if borrowings exceed $200 million. At December 31, 2020 and 2019, the Company had $135.3 million and $90.0 million, respectively, of outstanding borrowings under its $250.0 million revolving credit facility. The credit facility provides two six-month extension options that would extend the final maturity to March 8, 2023 if exercised. The Company can exercise the extension options as long as there is no default. 2. On August 4, 2020, a subsidiary of the Company entered into an agreement with affiliates of Mack Real Estate Credit Strategies to obtain a loan with a total commitment of up to $40 million to fund the remaining construction costs of the Warner Center hotel development. The loan has an initial term of 4 years and there are two six-month extension options. The rate on the loan is LIBOR, subject to a 0.25% floor, plus a spread of 7.5%. At December 31, 2020 and 2019, the Company had $135.3 million and $90.0 million, respectively, of outstanding borrowings under its revolving credit facility. At December 31, 2020, the maximum borrowing availability under the revolving credit facility was $250.0 million. The Company estimates the fair value of its fixed rate debt by discounting the future cash flows of each instrument at estimated market rates. All of the Company's mortgage loans are fixed-rate. Rates take into consideration general market conditions, quality and estimated value of collateral and maturity of debt with similar credit terms and are classified within level 3 of the fair value hierarchy. The estimated fair value of the Company’s fixed rate debt as of December 31, 2020 and 2019 was $462.6 million and $501.5 million, respectively. The Company estimates the fair value of its variable rate debt by taking into account general market conditions and the estimated credit terms it could obtain for debt with a similar maturity and that is classified within level 3 of the fair value hierarchy. As of December 31, 2020, the Company’s variable rate debt consists of its revolving credit facility and its construction loan. The estimated fair value of the Company’s variable rate debt as of December 31, 2020 and 2019 was $148.6 million and $90.0 million, respectively. On December 16, 2020, the Company, entered into a Third Amendment to the Company’s Amended and Restated Credit Agreement, dated as of March 8, 2018 (as amended by the Credit Agreement Amendment, and as previously amended by that certain First Amendment to the Amended and Restated Credit Agreement, dated as of May 6, 2020, and as further amended by that certain Second Amendment to Amended and Restated Credit Agreement, dated as of July 23, 2020), with certain lenders for whom Barclays Bank PLC is acting as the administrative agent. The amendment provides for the waiver of certain financial covenants through December 31, 2021 and allows the Company to borrow up to the entire $250 million facility size during this period. During this covenant waiver period, the Company will be required to maintain a minimum liquidity of $25 million which will include both unrestricted cash and credit facility availability. In connection with the amendment, the Company added six hotels to the credit facility’s borrowing base which now has a total of 24 properties. The amendment provided the Company’s credit facility lenders with pledges of the equity in the 24 borrowing base hotels. The amendment places additional limits on the Company’s ability to incur debt, pay dividends, and make capital expenditures during the covenant waiver period. During the covenant waiver period interest will be calculated as LIBOR (subject to a 0.5% floor) plus a spread of 2.50% if borrowings remain at or below $200 million and a spread of 3.0% if borrowings exceed $200 million. As of December 31, 2020, the Company was in compliance with all of its modified financial covenants. Our mortgage debt agreements contain “cash trap” provisions that are triggered when the hotel’s operating results fall below a certain debt service coverage ratio or debt yield. When these provisions are triggered, all of the excess cash flow generated by the hotel is deposited directly into cash management accounts for the benefit of our lenders until a specified debt service coverage ratio or debt yield is reached. Such provisions do not allow the lender the right to accelerate repayment of the underlying debt. As of December 31, 2020, the debt service coverage ratios or debt yields for all of our mortgage loans were below the minimum thresholds such that the cash trap provision of each respective loan could be enforced. As of December 31, 2020, none of our mortgage debt lenders has enforced cash trap provisions. We do not expect that such cash traps will affect our ability to satisfy our short-term liquidity requirements. Future scheduled principal payments of debt obligations as of December 31, 2020, for each of the next five calendar years and thereafter are as follows (in thousands): Amount 2021 $ 21,441 2022 144,549 2023 117,875 2024 309,941 2025 15,935 Thereafter — Total debt before unamortized debt issue costs $ 609,741 Unamortized mortgage debt issue costs (971) Total debt outstanding $ 608,770 Accounting for Derivative Instruments The Company has entered into interest rate cap agreements to hedge against interest rate fluctuations related to the construction loan for the Warner Center hotel. The Company records its derivative instruments on the balance sheet at their estimated fair values. Changes in the fair value of the derivatives are recorded each period in current earnings or in other comprehensive income, depending on whether a derivative is designated as part of a hedging relationship and, if it is, depending on the type of hedging relationship. The Company's interest rate caps are not designated as a hedge but to eliminate the incremental cost to the Company if the one-month LIBOR were to exceed 3.5%. Accordingly, the interest rate caps are recorded on the balance sheet under prepaid expenses and other assets at the estimated fair value and realized and unrealized changes in the fair value are reported in the consolidated statements of operations. As of December 31, 2020, the fair value of the interest rate caps were $9.1 thousand.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The components of income tax expense for the following periods are as follows (in thousands): For the year ended December 31, 2020 2019 2018 Current: Federal $ (29) $ (29) $ — State — — — Current tax expense (benefit) $ (29) $ (29) $ — Deferred: Federal 29 29 (28) State — — — Deferred tax expense (benefit) 29 29 (28) Total income tax expense (benefit) $ — $ — $ (28) The difference between income tax expense and the amount computed by applying the statutory federal income tax rate to the combined income of the Company's TRS before taxes were as follows (in thousands): For the year ended December 31, 2020 2019 2018 Book loss before income taxes of the TRS $ (4,838) $ (8,167) $ (6,040) Statutory rate of 21% for 2018 and after $ (1,016) $ (1,715) $ (1,268) Effect of state and local income taxes, net of federal tax benefit (253) (347) (200) Permanent adjustments 4 8 12 Change in valuation allowance 1,445 2,100 1,456 Valuation allowance release — — (28) Other (180) (46) — Total income tax (benefit) expense $ — $ — $ (28) Effective tax rate — % — % 0.46 % At December 31, 2020 and 2019, the Company had valuation allowances against certain deferred tax assets totaling $7.1 million and $5.6 million, respectively. The increase in valuation allowance was primarily from the increase in the net operating losses incurred during the year. The tax effect of each type of temporary difference and carry forward that gives rise to the deferred tax asset as of December 31, 2020 and 2019 are as follows (in thousands): For the year ended December 31, 2020 2019 Gross Deferred Tax Assets: Allowance for doubtful accounts $ 133 $ 117 Accrued compensation 547 870 Net operating loss 6,541 4,741 AMT credit — 29 Gross Deferred Tax Assets $ 7,221 $ 5,757 Less: Valuation Allowance $ (7,070) $ (5,625) Total Deferred Tax Assets Net of Valuation Allowance 151 132 Gross Deferred Tax Liabilities: Total Book/tax difference in partnership (151) (103) Gross Deferred Tax Liabilities: (151) (103) Net, Deferred Tax Assets: — 29 As of each reporting date, the Company's management considers new evidence, both positive and negative, that could impact management's view with regard to future realization of net deferred tax assets. The Company's TRS is expecting continued taxable losses in 2020. As of December 31, 2020, the TRS continues to recognize a full valuation allowance equal to 100% of the net deferred tax assets. Management will continue to monitor the need for a valuation allowance. The TRS has income tax NOL carryforwards for Federal and various states of approximately $24.2 million and $30.0 million, respectively. The loss carryforwards begin to expire starting in 2038 for Federal purposes and in 2031 and thereafter for state purposes.

Dividends Declared and Paid

Dividends Declared and Paid	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Dividends Declared and Paid	Dividends Declared and Paid The Company declared regular common share dividends of $0.22 per share and distributions on LTIP units of $0.22 per unit for the year ended December 31, 2020. The dividends and distributions and their tax characterization were as follows: Record Payment Common LTIP Taxable Ordinary Income Return of Capital Section 199A Dividends January 1/31/2020 2/28/2020 $ 0.11 $ 0.11 $ — $ 0.1100 $ — February 2/28/2020 3/27/2020 0.11 0.11 — 0.1100 — Total 2020 $ 0.22 $ 0.22 $ — $ 0.2200 $ — Record Payment Common LTIP Taxable Ordinary Income Return of Capital Section 199A Dividends January 1/31/2019 2/22/2019 $ 0.11 $ 0.11 $ 0.0847 $ 0.0253 $ 0.0847 February 2/28/2019 3/29/2019 0.11 0.11 0.0847 0.0253 0.0847 March 3/29/2019 4/26/2019 0.11 0.11 0.0847 0.0253 0.0847 1st Quarter 2019 $ 0.33 $ 0.33 $ 0.2541 $ 0.0759 $ 0.2541 April 4/30/2019 5/31/2019 $ 0.11 $ 0.11 $ 0.0847 $ 0.0253 $ 0.0847 May 5/31/2019 6/28/2019 0.11 0.11 0.0847 0.0253 0.0847 June 6/28/2019 7/26/2019 0.11 0.11 0.0847 0.0253 0.0847 2nd Quarter 2019 $ 0.33 $ 0.33 $ 0.2541 $ 0.0759 $ 0.2541 July 7/31/2019 8/30/2019 $ 0.11 $ 0.11 $ 0.0847 $ 0.0253 $ 0.0847 August 8/30/2019 9/27/2019 0.11 0.11 0.0847 0.0253 0.0847 September 9/30/2019 10/25/2019 0.11 0.11 0.0847 0.0253 0.0847 3rd Quarter 2019 $ 0.33 $ 0.33 $ 0.2541 $ 0.0759 $ 0.2541 October 10/31/2019 11/29/2019 $ 0.11 $ 0.11 $ 0.0847 $ 0.0253 $ 0.0847 November 11/29/2019 12/27/2019 0.11 0.11 0.0847 0.0253 0.0847 December 12/31/2019 1/31/2020 0.11 0.11 0.0847 0.0253 0.0847 4th Quarter 2019 $ 0.33 $ 0.33 $ 0.2541 $ 0.0759 $ 0.2541 Total 2019 $ 1.32 $ 1.32 $ 1.0164 $ 0.3036 $ 1.0164 For the year ended December 31, 2020, 100.0%

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Shareholders' Equity	Shareholders' Equity Common Shares The Company is authorized to issue up to 500,000,000 common shares of beneficial interest, $0.01 par value per share ("common shares"). Each outstanding common share entitles the holder to one vote on all matters submitted to a vote of shareholders. Holders of the Company’s common shares are entitled to receive dividends when authorized by the Company's Board of Trustees. As of December 31, 2020, 46,973,473 common shares were outstanding. In December 2017, we established a $50 million dividend reinvestment and stock purchase plan (the "Prior DRSPP"). We filed a new $50 million shelf registration statement for the dividend reinvestment and stock purchase plan (the "Current DRSPP" and together with the Prior DRSPP, the "DRSPPs") on December 22, 2020 to replace the prior program. Under the DRSPPs, shareholders may purchase additional common shares by reinvesting some or all of the cash dividends received on the Company's common shares. Shareholders may also make optional cash purchases of the Company's common shares subject to certain limitations detailed in the prospectuses for the DRSPPs. During the year ended December 31, 2020, we issued 20,512 shares under the Prior DRSPP at a weighted average price of $8.89, which generated $0.2 million of proceeds. As of December 31, 2020, there were common shares having a maximum aggregate sales price of approximately $50.0 million available for issuance under the Current DRSPP. In December 2017, we established an "At-the-Market-Equity" program (the "Prior ATM Plan") whereby, from time to time, we may publicly offer and sell our common shares having an aggregate offering price up to $100 million by means of ordinary brokers transactions on the New York Stock Exchange (the "NYSE"), in negotiated transactions or in transactions that are deemed to be "at-the-market" offerings as defined in Rule 415 under the Securities Act of 1933, as amended. We filed a $100 million registration statement for a new ATM program (the "ATM Plan") on January 5, 2021 to replace the prior program. At the same time, the Company entered into a sales agreement with Cantor Fitzgerald & Co., Barclays Capital Inc., BMO Capital Markets Corp., BofA Securities, Inc., BTIG, LLC, Citigroup Global Markets Inc., Regions Securities LLC, Stifel, Nicolaus & Company, Incorporated and Wells Fargo Securities as sales agents. In accordance with the terms of the sales agreement, the Company may from time to time offer, and sell shares of its common stock having an aggregate offering price of up to $100 million. During the year ended December 31, 2020, we issued no shares under the Prior ATM Plan. As of December 31, 2020, there were common shares having a maximum aggregate sales price of approximately $100.0 million available for issuance under the ATM Plan. Preferred Shares The Company is authorized to issue up to 100,000,000 preferred shares, $0.01 par value per share. No preferred shares were outstanding at December 31, 2020 and 2019. Operating Partnership Units Holders of common units in the Operating Partnership, if and when issued, will have certain redemption rights, which will enable the unit holders to cause the Operating Partnership to redeem their units in exchange for, at the Company’s option, cash per unit equal to the market price of the Company’s common shares at the time of redemption or for the Company’s common shares on a one-for-one basis. The number of shares issuable upon exercise of the redemption rights will be adjusted upon the occurrence of share splits, mergers, consolidations or similar pro-rata share transactions, which otherwise would have the effect of diluting the ownership interests of limited partners or shareholders. As of December 31, 2020, there were 654,603 vested Operating Partnership LTIP units held by employees and 102,048 Operating Partnership LTIP units held by a former employee.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The two class method is used to determine earnings per share because unvested restricted shares and unvested LTIP units are considered to be participating shares. The LTIP units held by the non-controlling interest holders, which may be converted to common shares of beneficial interest, have been excluded from the denominator of the diluted earnings per share calculation as there would be no effect on the amounts since limited partners' share of income or loss would also be added back to net income or loss. Unvested restricted shares, unvested long-term incentive plan units and unvested Class A Performance LTIP units that could potentially dilute basic earnings per share in the future would not be included in the computation of diluted loss per share for the periods where a loss has been recorded, because they would have been anti-dilutive for the periods presented. The following is a reconciliation of the amounts used in calculating basic and diluted net income per share (in thousands, except share and per share data): For the year ended December 31, 2020 2019 2018 Numerator: Net income $ (76,023) $ 18,703 $ 30,641 Dividends paid on unvested shares and LTIP units (50) (297) (310) Net income attributable to common shareholders $ (76,073) $ 18,406 $ 30,331 Denominator: Weighted average number of common shares - basic 46,961,039 46,788,784 46,073,515 Effect of dilutive securities: Unvested shares — 234,496 170,145 Weighted average number of common shares - diluted 46,961,039 47,023,280 46,243,660 Basic income per Common Share: Net income attributable to common shareholders per weighted average common share $ (1.62) $ 0.39 $ 0.66 Diluted income per Common Share: Net income attributable to common shareholders per weighted average common share $ (1.62) $ 0.39 $ 0.66

Equity Incentive Plan

Equity Incentive Plan	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Equity Incentive Plan	Equity Incentive Plan The Company maintains its Equity Incentive Plan to attract and retain independent trustees, executive officers and other key employees and service providers. The plan provides for the grant of options to purchase common shares, share awards, share appreciation rights, performance units, and other equity-based awards. The plan was amended and restated as of May 17, 2013 to increase the maximum number of shares available under the plan to 3,000,000 shares. Share awards under this plan generally vest over three five Restricted Share Awards From time to time, the Company may award restricted shares under the Equity Incentive Plan as compensation to officers, employees and non-employee trustees. The Company recognizes compensation expense for the restricted shares on a straight-line basis over the vesting period based on the fair market value of the shares on the date of issuance. A summary of the Company’s restricted share awards for the years ended December 31, 2020, 2019 and 2018 is as follows: December 31, 2020 December 31, 2019 December 31, 2018 Number of Shares Weighted - Average Grant Date Fair Value Number of Shares Weighted - Average Grant Date Fair Value Number of Shares Weighted - Average Grant Date Fair Value Non-vested at beginning of the period 5,001 $ 18.33 8,334 $ 18.52 57,514 $ 23.78 Granted — — — — 5,000 17.40 Vested (3,334) 18.80 (3,333) 18.80 (30,084) 26.24 Forfeited — — — — (24,096) 21.21 Unvested at end of the period 1,667 $ 17.40 5,001 $ 18.33 8,334 $ 18.52 As of December 31, 2020 and 2019, there were $0.0 million and $0.1 million, respectively, of unrecognized compensation costs related to restricted share awards. As of December 31, 2020, these costs were expected to be recognized over a weighted–average period of approximately 1.0 years. For the years ended December 31, 2020, 2019 and 2018, the Company recognized approximately $0.0 million, $0.1 million and $0.1 million, respectively, of expense related to the restricted share awards. This expense is included in general and administrative expenses in the accompanying consolidated statements of operations. Long-Term Incentive Plan Awards LTIP units are a special class of partnership interests in the Operating Partnership which may be issued to eligible participants for the performance of services to or for the benefit of the Company. Under the Equity Incentive Plan, each LTIP unit issued is deemed equivalent to an award of one common share thereby reducing the number of shares available for other equity awards on a one-for-one basis. A summary of the Company's LTIP unit awards for the years ended years ended December 31, 2020, 2019 and 2018 is as follows: December 31, 2020 December 31, 2019 December 31, 2018 Number of Weighted - Number of Weighted - Number of Weighted - Non-vested at beginning of the period 598,320 $ 18.30 476,398 $ 17.73 482,056 $ 16.58 Granted 325,507 13.42 221,853 $ 18.73 244,917 $ 16.94 Vested (254,218) 18.82 (99,931) $ 16.55 (67,275) $ 16.42 Forfeited — — — $ — (183,300) $ 14.13 Non-vested at end of period 669,609 $ 15.73 598,320 $ 18.30 476,398 $ 17.73 Outperformance Plan LTIP Awards On June 1, 2015, the Company's Operating Partnership granted 183,300 Class A Performance LTIP units, as recommended by the Compensation Committee of the Board (the "Compensation Committee"), pursuant to long-term, multi-year performance plan (the "Outperformance Plan"). As of June 1, 2018, the Class A Performance LTIP units did not meet the required market based Total Shareholder Return ("TSR") measurements and therefore, the accrued dividends and units have been forfeited. Time-Based LTIP Awards On March 1, 2020, the Company’s Operating Partnership, upon the recommendation of the Compensation Committee, granted 130,206 time-based awards (the “2020 Time-Based LTIP Unit Award”). The grants were made pursuant to award agreements that provide for time-based vesting (the "LTIP Unit Time-Based Vesting Agreement"). Time-Based LTIP Unit Awards will vest ratably provided that the recipient remains employed by the Company through the applicable vesting date , subject to acceleration of vesting in the event of the recipient’s death, disability, termination without cause or resignation with good reason, or in the event of a change of control of the Company ). Prior to vesting, a holder is entitled to receive distributions on the LTIP Units that comprise the 2020 Time-Based LTIP Unit Awards and the prior year LTIP unit Awards set forth in the table above. Performance-Based LTIP Awards On March 1, 2020, the Company’s Operating Partnership, upon the recommendation of the Compensation Committee, also granted 195,301 performance-based awards (the "2020 Performance-Based LTIP Unit Awards"). The grants were made pursuant to award agreements that have market based vesting conditions. The Performance-Based LTIP Unit Awards are comprised of Class A Performance LTIP units that will vest only if and to the extent that (i) the Company achieves certain long-term market based TSR criteria established by the Compensation Committee and (ii) the recipient remains employed by the Company through the applicable vesting date, subject to acceleration of vesting in the event of the recipient’s death, disability, termination without cause or resignation with good reason, or in the event of a change of control of the Company. Compensation expense is based on an estimated value of $13.66 per 2020 Performance-Based LTIP Unit Award, which takes into account that some or all of the awards may not vest if long-term market based TSR criteria are not met during the vesting period. The 2020 Performance-Based LTIP Unit Awards may be earned based on the Company's relative TSR performance for the three-year period beginning on March 1, 2020 and ending on February 28, 2023. The 2020 Performance-Based LTIP Unit Awards, if earned, will be paid out between 50% and 150% of target value as follows: Relative TSR Hurdles (Percentile) Payout Percentage Threshold 25th 50% Target 50th 100% Maximum 75th 150% Payouts at performance levels in between the hurdles will be calculated by straight-line interpolation. The Company estimated the aggregate compensation cost to be recognized over the service period determined as of the grant date under ASC 718, excluding the effect of estimated forfeitures, using the Monte Carlo Approach. In determining the discounted value of the LTIP units, the Company considered the inherent uncertainty that the LTIP units would never reach parity with the other common units of the Operating Partnership and thus have an economic value of zero to the grantee. Additional factors considered in estimating the value of the LTIP units included discounts for illiquidity; expectations for future dividends; risk free interest rates; stock volatility; and economic environment and market conditions. The grant date fair value of the LTIPs and the assumptions used to estimate the values are as follows: Grant Date Number of Units Granted Estimated Value per Unit Volatility Dividend Yield Risk Free Interest Rate Outperformance Plan 6/1/2015 183,300 $14.13 26% 4.5% 0.95% 2016 Time-Based LTIP Unit Awards 1/28/2016 72,966 $16.69 28% —% 0.79% 2016 Performance-Based LTIP Unit Awards 1/28/2016 39,285 $11.09 30% 5.8% 1.13% 2017 Time-Based LTIP Unit Awards 3/1/2017 89,574 $18.53 24% —% 0.92% 2017 Performance-Based LTIP Unit Awards 3/1/2017 134,348 $19.65 25% 5.8% 1.47% 2018 Time-Based LTIP Unit Awards 3/1/2018 97,968 $16.83 26% —% 2.07% 2018 Performance-Based LTIP Unit Awards 3/1/2018 146,949 $17.02 26% 6.2% 2.37% 2019 Time-Based LTIP Unit Awards 3/1/2019 88,746 $18.45 21% —% 2.57% 2019 Performance-Based LTIP Unit Awards 3/1/2019 133,107 $18.91 21% 6.2% 2.55% 2020 Time-Based LTIP Unit Awards 3/1/2020 130,206 $13.05 20% —% 1.06% 2020 Performance-Based LTIP Unit Awards 3/1/2020 195,301 $13.66 20% 8.1% 0.90% The Company recorded $4.4 million, $4.2 million and $3.6 million in compensation expense related to the LTIP units for years ended December 31, 2020, 2019 and 2018, respectively. As of December 31, 2020 and 2019, there was $4.9 million and $4.9 million, respectively, of total unrecognized compensation cost related to LTIP units. This cost is expected to be recognized over approximately 1.8 years, which represents the weighted average remaining vesting period of the LTIP units. Board of Trustee Share Compensation For 2020, 2019 and 2018, each independent trustee was compensated $0.1 million for their services. Each trustee may elect to receive up to 100% of their compensation in the form of shares, but must receive at least 50% in the form of shares. In January 2020, 2019 and 2018, the Company issued 24,516, 27,870 and 21,670 common shares, respectively, to its independent trustees as compensation for services performed in 2019, 2018 and 2017, respectively. The quantity of shares was calculated based on the average of the closing price for the Company’s common shares on the NYSE for the last ten 40,203 common shares to its independent trustees for services performed in 2020.

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	Leases The Courtyard Altoona hotel was subject to a ground lease with an expiration date of April 30, 2029 and we had an extension option by the Company of up to 12 additional terms of five years each. Monthly payments were determined by the quarterly average room occupancy of the hotel. Rent was equal to approximately $8,400 per month when monthly occupancy was less than 85% and could increase up to approximately $20,000 per month if occupancy was 100%, with minimum rent increased by two and one-half percent (2.5%) on an annual basis. The Courtyard Altoona hotel was sold on May 7, 2019. The Residence Inn San Diego Gaslamp hotel is subject to a ground lease with an expiration of January 31, 2065 with an extension option by the Company of up to three additional terms of ten The Residence Inn New Rochelle hotel is subject to an air rights lease and garage lease that each expires on December 1, 2104. The lease agreements with the City of New Rochelle cover the space above the parking garage that is occupied by the hotel as well as 128 parking spaces in a parking garage that is attached to the hotel. The annual base rent for the garage lease is the hotel’s proportionate share of the city’s adopted budget for the operations, management and maintenance of the garage and established reserves to fund the cost of capital repairs. Aggregate rent for 2020 under these leases amounted to approximately $31,000 per quarter. The Hilton Garden Inn Marina del Rey hotel is subject to a ground lease with an expiration of December 31, 2067. Minimum monthly payments are currently approximately $47,500 per month and a percentage rent payment less the minimum rent is due in arrears equal to 5% to 25% of gross income based on the type of income. The Company entered into a corporate office lease in September 2015. The lease is for a term of 11 years and includes a 12-month rent abatement period and certain tenant improvement allowances. The Company has a renewal option of up to two successive terms of five The Company is the lessee under ground, air rights, garage and office lease agreements for certain of its properties, all of which qualify as operating leases as of December 31, 2020. The leases typically provide multi-year renewal options to extend term as lessee at the Company's option. Option periods are included in the calculation of the lease obligation liability only when options are reasonably certain to be exercised. In calculating the Company's lease obligations under the various leases, the Company uses discount rates estimated to be equal to what the Company would have to pay to borrow on a collateralized basis over a similar term, for an amount equal to the lease payments, in a similar economic environment. The following table includes information regarding the Company's total minimum lease payments for which it is the lessee, as of December 31, 2020, for each of the next five calendar years and thereafter (in thousands): Total Future Lease Payments Amount 2021 $ 2,051 2022 2,071 2023 2,093 2024 2,115 2025 2,186 Thereafter 66,720 Total lease payments $ 77,236 Less: Imputed interest (54,003) Present value of lease liabilities $ 23,233 The following table includes information regarding the Company's total minimum lease payments for which it is the lessee, as of December 31, 2019, for each of the next five calendar years and thereafter (in thousands): Total Future Lease Payments Amount 2020 $ 2,027 2021 2,051 2022 2,071 2023 2,093 2024 2,115 Thereafter 68,906 Total lease payments $ 79,263 Less: Imputed interest (55,546) Present value of lease liabilities $ 23,717 For the year ended December 31, 2020, the Company made $1.2 million of fixed lease payments and $33.0 thousand of variable lease payments related to hotel ground leases, which are included in property taxes, ground rent and insurance in our consolidated statement of operations. For the year ended December 31, 2020, the Company made $0.8 million of fixed lease payments related to its corporate office lease, which are included in general and administrative expense in our consolidated statement of operations. The following tables include information regarding the right of use assets and lease liabilities of the Company as of December 31, 2020: Right of Use Asset Lease Liability Balance as of January 1, 2020 $ 21,270 $ 23,717 Amortization (629) (484) Balance as of December 31, 2020 $ 20,641 $ 23,233 Lease Term and Discount Rate December 31, 2020 Weighted-average remaining lease term (years) 40.62 Weighted-average discount rate 6.57%

Commitment and Contingencies

Commitment and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation The nature of the operations of the Company's hotels exposes those hotels, the Company and the Operating Partnership to the risk of claims and litigation in the normal course of their business. IHM is currently a defendant in several class action lawsuits pending in the state of California. The first class action lawsuit was filed in the Santa Clara County Superior Court on October 21, 2016 under the title Ruffy, et al, v. Island Hospitality Management, LLC, et al. Case No. 16-CV-301473 (“Ruffy”) and the second class action lawsuit was filed on March 21, 2018 under the title Doonan, et al, v. Island Hospitality Management, LLC, et al. Case No 18-CV-325187 (“Doonan”). The class actions relate to hotels operated by IHM in the state of California and owned by affiliates of the Company and the NewINK JV, and/or certain third parties. The complaint alleged various wage and hour law violations based on alleged misclassification of certain hotel managerial staff and violation of certain California statutes regarding incorrect information contained on employee paystubs. The plaintiffs seek injunctive relief, money damages, penalties, and interest. A settlement agreement has been negotiated and approved by the applicable courts for Ruffy and Doonan. In August 2020, a payment of $0.1 million, which represents the Company’s total exposure to the Ruffy and Doonan litigations based on standard indemnification obligations under hotel management agreements with IHM, was paid related to this lawsuit settlement. In addition, IHM is a defendant in the following series of interrelated class action lawsuits: Perez et al. v. Island Hospitality Management III LLC et al. (United States District Court for the Central District of California, Case No. 2:18-cv-04903-DMG-JPR) filed on March 15, 2018, Cruz v. Island Hospitality Management III LLC (Santa Clara County Superior Court Case No. 19CV353655) filed on August 19, 2019, Leon et al. v. Island Hospitality Management III LLC (Orange County Superior Court Case No. 30-2019-01050719-CU-OE-CXC) filed on April 2, 2019, and Vela v. Island Hospitality Management LLC et al. (San Diego County Superior Court, Case No. 37-2019-0003525) filed on July 9, 2019 (collectively the “Perez class actions”). The Perez class actions also relate to hotels operated by IHM in the state of California and owned by affiliates of the Company and the NewINK JV, and/or certain third parties. The complaints alleged various wage and hour law violations based on alleged violation of certain California statutes regarding rest and meal breaks and wage statements. The plaintiffs seek injunctive relief, money damages, penalties, and interest. In September 2020, a payment of $0.6 million, which represents the Company’s total exposure to the Perez class actions based on standard indemnification obligations under hotel management agreements with IHM, was paid related to this lawsuit settlement. Management Agreements The management agreements with IHM have an initial term of five years and automatically renew for two five As of December 31, 2020, terms of the Company's management agreements are (dollars are not in thousands): Property Management Company Base Management Fee Monthly Accounting Fee Monthly Revenue Management Fee Incentive Management Fee Cap Homewood Suites by Hilton Boston-Billerica/ Bedford/ Burlington IHM 3.0 % 1,200 1,000 1.0 % Homewood Suites by Hilton Minneapolis-Mall of America IHM 3.0 % 1,200 1,000 1.0 % Homewood Suites by Hilton Nashville-Brentwood IHM 3.0 % 1,200 1,000 1.0 % Homewood Suites by Hilton Dallas-Market Center IHM 3.0 % 1,200 1,000 1.0 % Homewood Suites by Hilton Hartford-Farmington IHM 3.0 % 1,200 1,000 1.0 % Homewood Suites by Hilton Orlando-Maitland IHM 3.0 % 1,200 1,000 1.0 % Hampton Inn & Suites Houston-Medical Center IHM 3.0 % 1,000 1,000 1.0 % Residence Inn Long Island Holtsville IHM 3.0 % 1,000 1,000 1.0 % Residence Inn White Plains IHM 3.0 % 1,000 750 1.0 % Residence Inn New Rochelle IHM 3.0 % 1,000 750 1.0 % Residence Inn Garden Grove IHM 3.0 % 1,200 1,000 1.0 % Homewood Suites by Hilton San Antonio River Walk IHM 3.0 % 1,200 1,000 1.0 % Residence Inn Washington DC IHM 3.0 % 1,200 1,000 1.0 % Residence Inn Tysons Corner IHM 3.0 % 1,200 1,000 1.0 % Hampton Inn Portland Downtown IHM 3.0 % 1,000 550 1.0 % Courtyard Houston IHM 3.0 % 1,000 550 1.0 % Hyatt Place Pittsburgh North Shore IHM 3.0 % 1,500 1,000 1.0 % Hampton Inn Exeter IHM 3.0 % 1,200 1,000 1.0 % Hilton Garden Inn Denver Tech IHM 3.0 % 1,500 1,000 1.0 % Residence Inn Bellevue IHM 3.0 % 1,200 1,000 1.0 % Springhill Suites Savannah IHM 3.0 % 1,200 1,000 1.0 % Residence Inn Silicon Valley I IHM 3.0 % 1,200 1,000 1.0 % Residence Inn Silicon Valley II IHM 3.0 % 1,200 1,000 1.0 % Residence Inn San Mateo IHM 3.0 % 1,200 1,000 1.0 % Residence Inn Mountain View IHM 3.0 % 1,200 1,000 1.0 % Hyatt Place Cherry Creek IHM 3.0 % 1,500 1,000 1.0 % Courtyard Addison IHM 3.0 % 1,500 1,000 1.0 % Courtyard West University Houston IHM 3.0 % 1,500 1,000 1.0 % Residence Inn West University Houston IHM 3.0 % 1,200 1,000 1.0 % Hilton Garden Inn Burlington IHM 3.0 % 1,500 1,000 1.0 % Residence Inn San Diego Gaslamp IHM 3.0 % 1,500 1,000 1.0 % Hilton Garden Inn Marina del Rey IHM 3.0 % 1,500 1,000 1.0 % Residence Inn Dedham IHM 3.0 % 1,200 1,000 1.0 % Residence Inn Il Lugano IHM 3.0 % 1,500 1,000 1.0 % Hilton Garden Inn Portsmouth IHM 3.0 % 1,500 1,000 1.0 % Courtyard Summerville IHM 3.0 % 1,500 1,000 1.0 % Embassy Suites Springfield IHM 3.0 % 1,500 1,000 1.0 % Residence Inn Summerville IHM 3.0 % 1,500 1,000 1.0 % Courtyard Dallas IHM 3.0 % 1,500 1,000 1.0 % Management fees totaled approximately $5.3 million, $10.8 million and $10.8 million, respectively, for the years ended December 31, 2020, 2019 and 2018. Incentive management fees paid to IHM for the years ended years ended December 31, 2020, 2019 and 2018 were $0.0 million, $0.1 million and $0.1 million, respectively. Franchise Agreements The fees associated with the franchise agreements are calculated as a specified percentage of the hotel's gross room revenue. Terms of the Company's franchise agreements are as of December 31, 2020: Property Franchise/Royalty Fee Marketing/Program Fee Expiration Homewood Suites by Hilton Boston-Billerica/ Bedford/ Burlington 4.0 % 4.0 % 2025 Homewood Suites by Hilton Minneapolis-Mall of America 4.0 % 4.0 % 2025 Homewood Suites by Hilton Nashville-Brentwood 4.0 % 4.0 % 2025 Homewood Suites by Hilton Dallas-Market Center 4.0 % 4.0 % 2025 Homewood Suites by Hilton Hartford-Farmington 4.0 % 4.0 % 2025 Homewood Suites by Hilton Orlando-Maitland 4.0 % 4.0 % 2025 Hampton Inn & Suites Houston-Medical Center 6.0 % 4.0 % 2035 Residence Inn Long Island Holtsville 5.5 % 2.5 % 2025 Residence Inn White Plains 5.5 % 2.5 % 2030 Residence Inn New Rochelle 5.5 % 2.5 % 2030 Residence Inn Garden Grove 5.0 % 2.5 % 2031 Homewood Suites by Hilton San Antonio River Walk 4.0 % 4.0 % 2026 Residence Inn Washington DC 5.5 % 2.5 % 2033 Residence Inn Tysons Corner 5.0 % 2.5 % 2031 Hampton Inn Portland Downtown 6.0 % 4.0 % 2032 Courtyard Houston 5.5 % 2.0 % 2030 Hyatt Place Pittsburgh North Shore 5.0 % 3.5 % 2030 Hampton Inn Exeter 6.0 % 4.0 % 2031 Hilton Garden Inn Denver Tech 5.5 % 4.3 % 2028 Residence Inn Bellevue 5.5 % 2.5 % 2033 Springhill Suites Savannah 5.0 % 2.5 % 2033 Residence Inn Silicon Valley I 5.5 % 2.5 % 2029 Residence Inn Silicon Valley II 5.5 % 2.5 % 2029 Residence Inn San Mateo 5.5 % 2.5 % 2029 Residence Inn Mountain View 5.5 % 2.5 % 2029 Hyatt Place Cherry Creek 3% to 5% 3.5 % 2034 Courtyard Addison 5.5 % 2.0 % 2029 Courtyard West University Houston 5.5 % 2.0 % 2029 Residence Inn West University Houston 6.0 % 2.5 % 2024 Hilton Garden Inn Burlington 5.5 % 4.3 % 2029 Residence Inn San Diego Gaslamp 6.0 % 2.5 % 2035 Hilton Garden Inn Marina del Rey 3% to 5.5% 4.3 % 2030 Residence Inn Dedham 6.0 % 2.5 % 2030 Residence Inn Il Lugano 3% to 6% 2.5 % 2045 Hilton Garden Inn Portsmouth 5.5 % 4.0 % 2037 Courtyard Summerville 6.0 % 2.5 % 2037 Embassy Suites Springfield 5.5 % 4.0 % 2037 Residence Inn Summerville 6.0 % 2.5 % 2038 Courtyard Dallas 4% to 6% 2.0 % 2038 Franchise and marketing/program fees totaled approximately $11.6 million, $25.9 million and $24.9 million, respectively, for the years ended December 31, 2020, 2019 and 2018.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Prior to March 1, 2019, Mr. Fisher owned 51% of IHM. On March 1, 2019, Mr. Fisher acquired the 1.5% ownership interest of an employee who was leaving IHM. As of December 31, 2020, Mr. Fisher owns 52.5% of IHM. As of December 31, 2020, the Company had hotel management agreements with IHM to manage 39 of its wholly owned hotels. As of December 31, 2020, all 46 hotels owned by the NewINK JV were managed by IHM. Hotel management, revenue management and accounting fees accrued or paid to IHM for the hotels owned by the Company for the years ended December 31, 2020, 2019 and 2018 were $5.3 million, $10.8 million and $10.8 million, respectively. At December 31, 2020 and 2019, the amounts due to IHM were $0.3 million and $0.7 million, respectively. Incentive management fees paid to IHM by the Company for the years ended December 31, 2020, 2019 and 2018 were $0.0 million, $0.1 million and $0.1 million, respectively. The Company provides services to Castleblack, which is 97.5% owned by affiliates of CLNY and 2.5% owned by Mr. Fisher. For the years ended December 31, 2020 and 2019 the company provided services of $0.1 million and $0.1 million, respectively. Cost reimbursements from unconsolidated real estate entities revenue represents reimbursements of costs incurred on behalf of the NewINK JV, Inland JV, Castleblack and IHM. These costs relate primarily to corporate payroll costs at the NewINK JV, Inland JV and Castleblack where the Company is the employer and office expenses are shared with these entities and IHM. As the Company records cost reimbursements based upon costs incurred with no added markup, the revenue and related expense has no impact on the Company’s operating income or net income. Cost reimbursements are recorded based upon the occurrence of a reimbursed activity.

Quarterly Operating Results (un

Quarterly Operating Results (unaudited)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Quarterly Operating Results (unaudited)	Quarterly Operating Results (unaudited) Quarter Ended - 2020 March 31 June 30 September 30 December 31 (in thousands, except share and per share data) Total revenue $ 60,209 $ 20,173 $ 34,969 $ 29,565 Total operating expenses 77,895 38,793 45,214 24,667 Operating income (17,686) (18,620) (10,245) 4,898 Net income attributable to common shareholders (27,783) (26,827) (18,057) (3,356) Income (loss) per common share, basic (1) (0.59) (0.57) (0.38) (0.07) Income (loss) per common share, diluted (1) (0.59) (0.57) (0.38) (0.07) Weighted average number of common shares outstanding: Basic 46,948,533 46,960,289 46,965,526 46,969,483 Diluted 46,948,533 46,960,289 46,965,526 46,969,483 Quarter Ended - 2019 March 31 June 30 September 30 December 31 (in thousands, except share and per share data) Total revenue $ 75,679 $ 87,874 $ 90,080 $ 74,695 Total operating expenses 65,786 71,741 70,182 67,234 Operating income 9,893 16,133 19,898 7,461 Net income attributable to common shareholders 1,613 9,437 10,002 (2,349) Income per common share, basic (1) 0.03 0.20 0.21 (0.05) Income per common share, diluted (1) 0.03 0.20 0.21 (0.05) Weighted average number of common shares outstanding: Basic 46,556,710 46,760,016 46,913,922 46,919,035 Diluted 46,734,958 46,976,999 47,152,166 47,220,671 (1) The sum of per share amounts for the four quarters may differ from the annual per share amounts due to the required method of computing weighted-average number of common shares outstanding in the respective periods and share offerings that occurred during the year. Unvested restricted shares and unvested LTIP units could potentially dilute basic earnings per share in the future were not included in the computation of diluted loss per share, for the periods where a loss has been recorded, because they would have been anti-dilutive for the periods presented.

SCHEDULE III - REAL ESTATE AND

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION	SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION December 31, 2020 (in thousands) Initial Cost Gross Amount at End of Year Description Year of Acquisition Encumbrances Land Buildings & Improvements Cost Cap. Sub. To Acq. Land Cost Cap. Sub. To Acq. Bldg & Improvements Land Buildings & Improvements Total Bldg & Improvements Accumulated Depreciation Year of Original Construction Depreciation Life Homewood Suites Orlando - Maitland, FL 2010 — $ 1,800 $ 7,200 $ 34 $ 5,185 $ 1,834 $ 12,385 $ 14,219 $ 12,385 $ 4,135 2000 (1) Homewood Suites Boston - Billerica, MA 2010 15,693 1,470 10,555 48 3,848 1,518 14,403 15,921 14,403 3,990 1999 (1) Homewood Suites Minneapolis - Mall of America, Bloomington, MN 2010 — 3,500 13,960 19 4,101 3,519 18,061 21,580 18,061 5,414 1998 (1) Homewood Suites Nashville - Brentwood, TN 2010 — 1,525 9,300 12 3,683 1,537 12,983 14,520 12,983 3,929 1998 (1) Homewood Suites Dallas - Market Center, Dallas, TX 2010 — 2,500 7,583 30 4,230 2,530 11,813 14,343 11,813 3,402 1998 (1) Homewood Suites Hartford - Farmington, CT 2010 — 1,325 9,375 92 3,556 1,417 12,931 14,348 12,931 3,556 1999 (1) Hampton Inn & Suites Houston - Houston, TX 2010 17,717 3,200 12,709 60 3,089 3,260 15,798 19,058 15,798 3,913 1997 (1) Residence Inn Holtsville - Holtsville, NY 2010 — 2,200 18,765 — 1,244 2,200 20,009 22,209 20,009 5,563 2004 (1) Residence Inn White Plains - White Plains, NY 2010 — 2,200 17,677 — 9,362 2,200 27,039 29,239 27,039 7,720 1982 (1) Residence Inn New Rochelle - New Rochelle, NY 2010 12,936 — 20,281 9 6,642 9 26,923 26,932 26,923 6,777 2000 (1) Residence Inn Garden Grove - Garden Grove, CA 2011 32,053 7,109 35,484 57 3,568 7,166 39,052 46,218 39,052 9,564 2003 (1) Homewood Suites San Antonio - San Antonio, TX 2011 15,563 5,999 24,764 7 5,488 6,006 30,252 36,258 30,252 7,948 1996 (1) Residence Inn Washington DC - Washington, DC 2011 — 6,083 22,063 28 6,145 6,111 28,208 34,319 28,208 7,868 1974 (1) Residence Inn Tyson's Corner - Vienna, VA 2011 21,291 5,752 28,917 — 2,630 5,752 31,547 37,299 31,547 7,281 2001 (1) Hampton Inn Portland Downtown - Portland, ME 2012 — 4,315 22,664 — 363 4,315 23,027 27,342 23,027 4,641 2011 (1) Courtyard Houston - Houston, TX 2013 17,559 5,600 27,350 — 2,802 5,600 30,152 35,752 30,152 6,043 2010 (1) Hyatt Place Pittsburgh - Pittsburgh, PA 2013 21,520 3,000 35,576 — 1,442 3,000 37,018 40,018 37,018 7,035 2011 (1) Hampton Inn & Suites Exeter - Exeter, NH 2013 — 1,900 12,350 4 164 1,904 12,514 14,418 12,514 2,345 2010 (1) Hilton Garden Inn Denver Tech - Denver, CO 2013 — 4,100 23,100 5 670 4,105 23,770 27,875 23,770 4,539 1999 (1) Residence Inn Bellevue - Bellevue, WA 2013 43,857 13,800 56,957 — 2,351 13,800 59,308 73,108 59,308 11,022 2008 (1) SpringHill Suites Savannah - Savannah, GA 2013 29,817 2,400 36,050 1 1,605 2,401 37,655 40,056 37,655 7,026 2009 (1) Residence Inn Silicon Valley I - Sunnyvale, CA 2014 64,406 42,652 45,846 — 5,914 42,652 51,760 94,412 51,760 20,944 1983 (1) Residence Inn Silicon Valley II - Sunnyvale, CA 2014 70,270 46,474 50,380 — 7,223 46,474 57,603 104,077 57,603 22,865 1985 (1) Residence Inn San Mateo - San Mateo, CA 2014 48,305 38,420 31,352 — 5393 38,420 36,745 75,165 36,745 14,274 1985 (1) Residence Inn Mt. View - Mountain View, CA 2014 37,670 22,019 31,813 — 10,186 22,019 41,999 64,018 41,999 16,600 1985 (1) Hyatt Place Cherry Creek - Cherry Creek, CO 2014 — 3,700 26,300 — 1,844 3,700 28,144 31,844 28,144 4,654 1987 (1) Courtyard Addison - Dallas, TX 2014 — 2,413 21,554 — 2,566 2,413 24,120 26,533 24,120 4,053 2000 (1) - continued - Initial Cost Gross Amount at End of Year Description Year of Acquisition Encumbrances Land Buildings & Improvements Cost Cap. Sub. To Acq. Land Cost Cap. Sub. To Acq. Bldg & Improvements Land Buildings & Improvements Total Bldg & Improvements Accumulated Depreciation Year of Original Construction Depreciation Life Courtyard West University - Houston, TX 2014 — 2,012 17,916 — 1437 2,012 19,353 21,365 19,353 2,978 2004 (1) Residence Inn West University - Houston, TX 2014 — 3,640 25,631 — 1,551 3,640 27,182 30,822 27,182 4,503 2004 (1) Hilton Garden Inn Burlington - Burlington, MA 2014 — 4,918 27,193 — 1,524 4,918 28,717 33,635 28,717 4,860 1975 (1) Residence Inn Gaslamp - San Diego, CA 2015 — — 89,040 10 2,079 10 91,119 91,129 91,119 13,580 2009 (1) Hilton Garden Inn - Marina del Rey, CA 2015 20,931 — 43,210 — 656 — 43,866 43,866 43,866 5,934 2013 (1) Residence Inn - Dedham, MA 2015 — 4,230 17,304 — 1,935 4,230 19,239 23,469 19,239 2,614 1998 (1) Residence Inn - Ft. Lauderdale, FL 2015 — 9,200 24,048 — 1,887 9,200 25,935 35,135 25,935 3,501 2008 (1) Warner Center 2017 — 6,500 — 99 — 6,599 — 6,599 — — Hilton Garden Inn - Portsmouth, NH 2017 — 3,600 37,630 — 520 3,600 38,150 41,750 38,150 3,133 2006 (1) Courtyard - Summerville, SC 2017 — 2,500 16,923 6 136 2,506 17,059 19,565 17,059 1337 2014 (1) Embassy Suites - Springfield, VA 2017 — 7,700 58,807 — 350 7,700 59,157 66,857 59,157 4,544 2013 (1) Residence Inn - Summerville, SC 2018 — 2,300 17,060 — 246 2,300 17,306 19,606 17,306 1,033 2018 (1) Courtyard Dallas Downtown - Dallas, TX 2018 — 2,900 42,760 — 120 2,900 42,880 45,780 42,880 2,226 2018 (1) Sili III 2018 — 8,171 — — — 8,171 — 8,171 — — Grand Total(s) $ 293,127 $ 1,077,447 $ 521 $ 117,735 $ 293,648 $ 1,195,182 $ 1,488,830 $ 1,195,182 $ 257,344 (1) Depreciation is computed based upon the following estimated useful lives: Years Building 40 Land improvements 20 Building improvements 5-20 - continued - Notes: (a) The change in total cost of real estate assets for the year ended is as follows: 2020 2019 2018 2017 2016 2015 Balance at the beginning of the year $ 1,520,189 $ 1,510,864 $ 1,431,374 $ 1,320,273 $ 1,306,192 1,105,504 Acquisitions — 8,171 65,020 133,660 — 187,032 Dispositions during the year (52,770) (17,889) — (33053) — — Capital expenditures and transfers from construction-in-progress 21,411 19,043 14,470 10,494 14,081 13,656 Investment in Real Estate $ 1,488,830 $ 1,520,189 $ 1,510,864 $ 1,431,374 $ 1,320,273 $ 1,306,192 (b) The change in accumulated depreciation and amortization of real estate assets for the year ended is as follows: Balance at the beginning of the year $ 224,339 $ 187,780 $ 148,071 $ 116,866 $ 83,245 50,910 Depreciation and amortization 42,145 41,908 39,709 36,401 33,621 32,335 Dispositions during the year $ (9,140) $ (5349) $ — $ (5196) $ — $ — Balance at the end of the year $ 257,344 $ 224,339 $ 187,780 $ 148,071 $ 116,866 $ 83,245 (c) The aggregate cost of properties for federal income tax purposes (in thousands) is approximately $1,488.736 as of December 31, 2020.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements and related notes have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and in conformity with the rules and regulations of the Securities and Exchange Commission (“SEC”). These consolidated financial statements, in the opinion of management, include all adjustments consisting of normal, recurring adjustments which are considered necessary for a fair statement of the consolidated balance sheets, consolidated statements of operations, consolidated statements of equity, and consolidated statements of cash flows for the periods presented.
Reclassifications	ReclassificationsIn accordance with the SEC’s Disclosure Update and Simplification release, dated August 18, 2018, the Company presented the Gain (loss) on sale of hotel property line on the Company’s Consolidated Statements of Operations within Operating income for all periods presented.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial instruments include cash and cash equivalents, restricted cash, hotel receivables, accounts payable and accrued expenses, distributions payable, mortgage debt and revolving credit facility. Due to their relatively short maturities, the carrying values reported in the consolidated balance sheets for these financial instruments approximate fair value except for mortgage debt and the revolving credit facility the fair value of which is separately disclosed in Note 7.
Investment in Hotel Properties	Investment in Hotel Properties The Company allocates the purchase prices of hotel properties acquired based on the fair value of the acquired real estate, furniture, fixtures and equipment, identifiable intangible assets and assumed liabilities. In making estimates of fair value for purposes of allocating the purchase price, the Company utilizes a number of sources of information that are obtained in connection with the acquisition of a hotel property, including valuations performed by independent third parties and information obtained about each hotel property resulting from pre-acquisition due diligence. The Company’s investments in hotel properties are carried at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, generally 40 years for buildings, 20 years for land improvements, 5 to 20 years for building improvements and one Management periodically reviews its hotel properties for impairment whenever events or changes in circumstances indicate that the carrying value of the hotel properties may not be recoverable over management's estimated holding period. This estimated holding period incorporates management’s intent and ability to hold the hotel properties over the estimated holding period. Events or circumstances that may cause a review include, but are not limited to, adverse changes in the demand for lodging at the properties due to declining national or local economic conditions and/or new hotel construction in markets where the hotels are located. When such conditions exist and management has identified uncertainty surrounding the recoverability of the hotel property carrying value, management will perform an analysis to determine if the estimated undiscounted future cash flows, without interest charges, from operations and the estimated proceeds from the ultimate disposition of a hotel property exceed its carrying value. If the estimated undiscounted future cash flows are less than the carrying amount, an adjustment to reduce the carrying amount to the related hotel property's estimated fair market value is recorded and an impairment loss recognized. For the years ended December 31, 2020 and 2019, there were no impairment losses.
Investment in Unconsolidated Real Estate Entities	Investment in Unconsolidated Real Estate Entities If it is determined that the Company does not have a controlling interest in a joint venture, either through its financial interest in a variable interest entity ("VIE") or in a voting interest entity, but does have the ability to exercise significant influence, the equity method of accounting is used. Under this method, the investment, originally recorded at cost, is adjusted to recognize the Company’s share of net earnings or losses of the affiliates as they occur rather than as dividends or other distributions are received, advances to and commitments for the investee. Investments in unconsolidated real estate entities are accounted for under the equity method of accounting and the Company records its equity in earnings or losses under the hypothetical liquidation of book value (“HLBV”) method of accounting due to the structures and the preferences we receive on the distributions from our joint ventures pursuant to the respective joint venture agreements for those joint ventures. Under this method, the Company recognizes income and loss in each period based on the change in liquidation proceeds it would receive from a hypothetical liquidation of its investment based on depreciated book value. Therefore, income or loss may be allocated disproportionately as compared to the ownership percentages due to specified preferred return rate thresholds and may be more or less than actual cash distributions received and more or less than what the Company may receive in the event of an actual liquidation. In the event a basis difference is created between the carrying amount of the Company's share of partner's capital, the resulting amount is allocated based on the assets of the investee and, if assigned to depreciable or amortizable assets, then amortized as a component of income (loss) from unconsolidated real estate entities. The Company periodically reviews the carrying value of its investment in unconsolidated joint ventures to determine if circumstances indicate impairment to the carrying value of the investment that is other than temporary. When an impairment indicator is present, the Company will estimate the fair value of the investment. The Company’s estimate of fair value takes into consideration factors such as expected future operating income, trends and prospects, as well as other factors. This determination requires significant estimates by management, including the expected cash flows to be generated by the assets owned and operated by the joint venture. To the extent impairment has occurred and is other than temporary, the loss will be measured as the excess of the carrying amount over the fair value of the Company’s investment in the unconsolidated joint venture. As of December 31, 2020, the Company recorded an impairment of the entire carrying value of $15.3 million on our investment in the Inland JV related to a decline in operating performance caused by the COVID-19 pandemic (See Note 6). The Company evaluates the nature of the distributions from each of its unconsolidated joint ventures in order to classify the distributions as either operating activities or investing activities in the consolidated statements of cash flows. Any cash distribution that is considered to be a distribution of the earnings of the unconsolidated joint venture is presented as an operating activity in the consolidated statements of cash flows. Any cash distribution that is considered to be a return of capital from the unconsolidated joint venture is presented as an investing activity in the consolidated statements of cash flows.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand, demand deposits with financial institutions and short term liquid investments with an original maturity of three months or less. Cash balances in individual banks may exceed federally insurable limits.
Restricted Cash	Restricted Cash Restricted cash represents purchase price deposits held in escrow for potential hotel acquisitions under contract and escrows for reserves such as reserves for capital expenditures, property taxes or insurance that are required pursuant to the Company’s loans or hotel management agreements.
Hotel Receivables	Hotel ReceivablesHotel receivables consist of amounts owed by guests staying in the hotels and amounts due from business and group customers. An allowance for doubtful accounts is provided and maintained at a level believed to be adequate to absorb estimated probable losses.
Deferred Costs	Deferred Costs Deferred costs consist of franchise agreement application fees for the Company’s hotels, costs associated with potential future acquisitions and loan costs related to the Company’s senior unsecured revolving credit facility. Deferred costs consisted of the following at December 31, 2020 and 2019 (in thousands): December 31, 2020 December 31, 2019 Loan costs $ 4,455 $ 2,104 Franchise fees 4,311 4,409 Other 75 129 8,841 6,642 Less accumulated amortization (3,457) (2,371) Deferred costs, net $ 5,384 $ 4,271
Mortgage Debt, net	Mortgage Debt, netMortgage debt, net consists of mortgage loans on certain hotel properties less the costs associated with acquiring those loans.
Prepaid Expenses And Other Assets	Prepaid Expenses and Other Assets The Company’s prepaid expenses and other assets consist of prepaid insurance, prepaid property taxes, deposits and hotel supplies inventory.
Distributions and Losses in Excess of Investments in Unconsolidated Real Estate Entities	Distributions and Losses in Excess of Investments in Unconsolidated Real Estate Entities At times, certain of the Company’s investments in unconsolidated entities' share of cumulative allocated losses and cash distributions received exceeds its cumulative allocated share of income and equity contributions. Although the Company typically does not make any guarantees of its investments in unconsolidated real estate entities other than certain customary non-recourse carve-out provisions, due to potential penalties along with potential upside from future financial returns, the Company generally intends to make any required capital contributions to maintain its ownership percentage and as such will record its share of cumulative allocated losses and cash distributions below zero. As a result, the carrying value of certain investments in unconsolidated entities is negative. Unconsolidated entities with negative carrying values are included in cash distributions and losses in excess of investments in unconsolidated entities in the Company’s consolidated balance sheets.
Revenue Recognition	Revenue Recognition Revenue from hotel operations is recognized when rooms are occupied and when services are provided. Revenue consists of amounts derived from hotel operations, including sales from room, meeting room, gift shop, in-room movie and other ancillary amenities. Sales, use, occupancy, and similar taxes are collected and presented on a net basis (excluded from revenue) in the accompanying consolidated statements of operations. Cash received prior to customer arrival is recorded as an advanced deposit from the customer and is recognized as revenue at the time of occupancy. Room revenue is generate through short-term contracts with customers whereby customers agree to pay a daily rate for the right to occupy hotel rooms for one or more nights. Our performance obligations are fulfilled at the end of each night that the customers have the right to occupy the rooms. Room revenues are recognized daily at the contracted room rate in effect for each room night. Food and beverage revenues are generated when customers purchase food and beverage at a hotel's restaurant, bar or other facilities. Our performance obligations are fulfilled at the time that food and beverage is purchased and provided to our customers. Other revenues such as for parking, cancellation fees, meeting space or telephone services are recognized at the point in time or over the time period that the associated good or service is provided.
Share-Based Compensation	Share-Based Compensation The Company measures compensation expense for the restricted share awards based upon the fair market value of its common shares at the date of grant. The Company measures compensation expense for the LTIP and Class A Performance units based upon the Monte Carlo approach using volatility, dividend yield and a risk free interest rate in the valuation. Compensation expense is recognized on a straight-line basis over the vesting period and is included in general and administrative expense in the accompanying consolidated statements of operations. The Company pays dividends on vested and non-vested restricted shares, except for performance-based shares, for which dividends on unvested shares are not paid until those shares are vested. The Company has also issued Class A Performance LTIP units from time to time as part of its compensation practices. Prior to vesting, holders of Class A Performance LTIP Units will not be entitled to vote their Class A Performance LTIP units. In addition, under the terms of the Class A Performance LTIP units, a holder of a Class A Performance LTIP unit will generally (i) be entitled to receive 10% of the distributions made on a common unit of the Operating Partnership during the period prior to vesting of such Class A Performance LTIP unit (the “Pre-Vesting Distributions”), (ii) be entitled, upon the vesting of such Class A Performance LTIP unit, to receive a special one-time “catch-up” distribution equal to the aggregate amount of distributions that were paid on a common unit during the period prior to vesting of such Class A Performance LTIP unit minus the aggregate amount of Pre-Vesting Distributions paid on such Class A Performance LTIP unit, and (iii) be entitled, following the vesting of such Class A Performance LTIP unit, to receive the same amount of distributions paid on a common unit of the Operating Partnership.
Earnings Per Share	Earnings Per Share A two class method is used to determine earnings per share. Basic earnings per share ("EPS") is computed by dividing net income (loss) available for common shareholders, adjusted for dividends on unvested share grants, by the weighted average number of common shares outstanding for the period. Diluted EPS is computed by dividing net income (loss) available for common shareholders, adjusted for dividends or distributions, on unvested share grants and LTIP units, by the weighted average number of common shares outstanding plus potentially dilutive securities such as share grants or shares issuable in the event of conversion of common units. No adjustment is made for shares that are anti-dilutive during the period. The Company’s restricted share awards and LTIP units that are subject solely to time-based vesting conditions are entitled to receive dividends or distributions on the Company's common shares or the Operating Partnership's common units, respectively, if declared. In addition, dividends on the Class A Performance LTIP units are paid the equivalent of 10% of the declared dividends on the Company's common shares. The rights to these dividends or distributions declared are non-forfeitable. As a result, the unvested restricted shares and LTIP units that are subject solely to time-based vesting conditions, as well as 10% of the unvested Class A Performance LTIP units, qualify as participating securities requiring the allocation of earnings under the two-class method to calculate EPS. The percentage of earnings allocated to these participating securities is based on the proportion of the weighted average of these outstanding participating securities to the sum of the basic weighted average common shares outstanding and the weighted average of these outstanding participating securities. Basic EPS is then computed by dividing income less earnings allocable to these participating securities by the basic weighted average number of shares outstanding. Diluted EPS is computed similar to basic EPS, except the weighted average number of shares outstanding is increased to include the effect of potentially dilutive securities.
Income Taxes	Income Taxes The Company elected to be taxed as a REIT for federal income tax purposes. In order to qualify as a REIT under the Internal Revenue Code of 1986, as amended, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its annual REIT taxable income to its shareholders (which is computed without regard to the dividends paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax to the extent the Company distributes its REIT taxable income to its shareholders. If the Company fails to qualify as a REIT in any taxable year, the Company will be subject to federal income tax on its REIT taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four The Company leases its wholly owned hotels to TRS Lessees, which are wholly owned by the Company’s taxable REIT subsidiary (a “TRS”) which, in turn is wholly owned by the Operating Partnership. Additionally, the Company indirectly owns its interest in the hotels owned by the NewINK JV (46 hotels) and the Inland JV (48 hotels) through the Operating Partnership. All of the NewINK JV hotels and Inland JV hotels are leased to TRS Lessees in which the Company indirectly owns a noncontrolling interests through its TRS holding company. The TRS is subject to federal and state income taxes and the Company accounts for taxes, where applicable, in accordance with the provisions of FASB Accounting Standards Codification 740 using the asset and liability method which recognizes deferred tax assets and liabilities for future tax consequences arising from differences between financial statement carrying amounts and income tax bases. The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases, and for net operating loss, capital loss and tax credit carryforwards. The deferred tax assets and liabilities are measured using the enacted income tax rates in effect for the year in which those temporary differences are expected to be realized or settled. The effect on the deferred tax assets and liabilities from a change in tax rates is recognized in earnings in the period when the new rate is enacted. However, deferred tax assets are recognized only to the extent that it is more likely than not that they will be realized based on consideration of all available evidence, including the future reversals of existing taxable temporary differences, future projected taxable income and tax planning strategies. Valuation allowances are provided if, based upon the weight of the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company performs an annual review for any uncertain tax positions and, if necessary, will record the expected future tax consequences of uncertain tax positions in the consolidated financial statements. As of December 31, 2020, the Company is no longer subject to U.S federal income tax examinations for years before 2017 and with few exceptions to state examinations before 2017. The Company evaluates whether a tax position of the Company is more likely than not to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. For tax positions meeting the more likely than not threshold, the tax amount recognized in the financial statements is reduced by the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant taxing authority. The Company has reviewed its tax positions for open tax years and has concluded no provision for income taxes is required in the Company's consolidated financial statements as of December 31, 2020. Interest and penalties related to uncertain tax benefits, if any, in the future will be recognized as operating expense. During the third quarter of 2018, management was notified that the Company's TRS was going to be examined by the Internal Revenue Service for the tax year ended December 31, 2016. The examination remains open. The Company believes it does not need to record a liability related to matters contained in the tax period open to examination. However, should the Company experience an unfavorable outcome in the matter, such outcome could have a material impact on its results of operations, financial position and cash flows.
Leases	Leases On January 1, 2019, the Company adopted accounting guidance under Accounting Standards Codification (ASU) 2016-02 (“ASU 2016-02”), Leases , which relates to the accounting for leasing transactions. On February 25, 2016,
Segment Information	Segment InformationManagement evaluates the Company's hotels as a single industry segment because all of the hotels have similar economic characteristics and provide similar services to similar types of customers.
Recently Issued Accounting Standards	Recently Issued Accounting Standards On January 1, 2018, the Company adopted accounting guidance under Accounting Standards Codification (ASU) Topic 2014-09, " Revenue from Contracts with Customers " on a modified retrospective basis. Our current revenue streams are not affected under the new model and we did not recognize a cumulative effect adjustment as part of the modified retrospective method of adoption. Furthermore, the new accounting guidance will not materially impact the recognition of or the accounting for disposition of hotels since we primarily dispose of hotels to third parties in exchange for cash with few contingencies. As it relates to capitalization of costs to acquire customer contracts, the Company has elected to use the Financial Accounting Standards Board's ("FASB") practical expedient which allows us to expense costs to acquire customer contracts as they are incurred due to their short-term nature for a specified number of nights that never exceed one year. This guidance applies to all contracts as of the adoption date. The Company has applied all relevant disclosures of this standard. On January 1, 2018, the Company adopted accounting guidance under 2016-15 ("ASU 2016-15"), Classification of Certain Cash Receipts and Cash Payments, which clarifies and provides specific guidance on eight cash flow classification issues with an objective to reduce the current diversity in practice. The Company has certain cash payments and receipts related to debt extinguishment that are affected by the new standard. The Company has historically classified distributions received from equity method investments under the cumulative earnings approach. As such, there was no impact due to application of the new guidance. The Company applied the new guidance on a retrospective basis. On January 1, 2018, the Company adopted accounting guidance under ASU 2016-18 ("ASU 2016-18"), Restricted Cash, which requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. This standard addresses presentation of restricted cash in the consolidated statements of cash flows only. Restricted cash represents purchase price deposits held in escrow for potential hotel acquisitions under contract and escrow reserves such as reserves for capital expenditures, property taxes or insurance that are required pursuant to the Company's loans. The Company applied the new guidance on a retrospective basis. In August 2018, the SEC issued SEC Final Rule 33-10532, Disclosure Update and Simplification. The amendments simplify or eliminate duplicative, overlapping, or outdated disclosure requirements. The amendments also add certain disclosure requirements, such as requiring entities to disclose the current and comparative quarter and year-to-date changes in shareholders' equity for interim periods. The amended rules are effective for reports filed on or after November 5, 2018. However, the SEC issued Compliance & Disclosure Interpretation 105.09 that allows entities to defer the adoption of the new disclosure requirement relating to changes in shareholders' equity for interim periods until the Form 10-Q for the quarterly period that begins after November 5, 2018. The Company adopted the new disclosure requirement relating to changes in shareholders' equity for interim periods on January 1, 2019. Based on the Company's assessment, the adoption of the new disclosures did not have a material impact on the Company's consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Components of Deferred Costs	Deferred costs consisted of the following at December 31, 2020 and 2019 (in thousands): December 31, 2020 December 31, 2019 Loan costs $ 4,455 $ 2,104 Franchise fees 4,311 4,409 Other 75 129 8,841 6,642 Less accumulated amortization (3,457) (2,371) Deferred costs, net $ 5,384 $ 4,271
Schedule of Mortgage Loans	Mortgage debt consisted of the following at December 31, 2020 and 2019 (in thousands): December 31, 2020 December 31, 2019 Mortgage debt $ 461,116 $ 496,860 Deferred financing costs (971) (1,395) Mortgage debt, net $ 460,145 $ 495,465

Acquisition of Hotel Properti_2

Acquisition of Hotel Properties (Tables)	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Purchase Price Allocation	The allocation of the purchase price of each of the hotels acquired by the Company, based on the fair value on the date of its acquisition, dollars (in thousands): RI Summerville Dallas DT Total Acquisition date 8/27/2018 12/5/2018 Number of rooms (unaudited) 96 167 263 Land $ 2,300 $ 2,900 $ 5,200 Building and improvements 17,060 42,760 59,820 Furniture, fixtures and equipment 1,234 3,340 4,574 Cash — 5 5 Accounts receivable — 8 8 Prepaid expenses and other assets — 68 68 Accounts payable and accrued expenses (9) (33) (42) Net assets acquired, net of cash $ 20,585 $ 49,043 $ 69,628
Revenue and Operating Income of New Hotels Acquired	The amount of revenue and operating income from the hotels acquired in 2018 from their respective date of acquisition through December 31, 2020 is as follows (in thousands): For the Year Ended December 31, 2020 For the Year Ended December 31, 2019 Acquisition Date Revenue Operating Income Revenue Operating Income Residence Inn Summerville, SC 8/27/18 $ 2,968 $ 903 $ 3,645 $ 1,250 Courtyard Dallas Downtown, TX 12/05/18 3,574 838 7,833 2,479 Total $ 6,542 $ 1,741 $ 11,478 $ 3,729

Disposition of Hotel Properti_2

Disposition of Hotel Properties (Tables)	12 Months Ended
	Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	During the years ended December 31, 2020, 2019 and 2018, the Company's consolidated statements of operations included operating income related to the disposed hotels as follows: (in thousands): Operating Income For the years ended December 31, 2020 2019 2018 Residence Inn Mission Valley, CA $ 2,013 $ 4,782 $ 4,608 Courtyard Altoona, PA — 24 517 SpringHill Suites Washington, PA — 198 718 Total $ 2,013 $ 5,004 $ 5,843

Investment in Hotel Properties

Investment in Hotel Properties (Tables)	12 Months Ended
	Dec. 31, 2020
Schedule of Investments [Abstract]
Investment in Hotel Properties	Investment in hotel properties, net as of December 31, 2020 and 2019 consisted of the following (in thousands): December 31, 2020 December 31, 2019 Land and improvements $ 287,049 $ 296,884 Building and improvements 1,195,276 1,216,849 Furniture, fixtures and equipment 84,381 81,707 Renovations in progress 11,225 31,589 1,577,931 1,627,029 Less: accumulated depreciation (312,757) (279,913) Investment in hotel properties, net $ 1,265,174 $ 1,347,116

Investment in Unconsolidated _2

Investment in Unconsolidated Entities (Tables)	12 Months Ended
	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Additional Cash Flow Information	During the years ended December 31, 2020 and 2019, the Company received cash distributions from the NewINK JV as follows (in thousands): For the year ended December 31, 2020 2019 Cash generated from other activities and excess cash $ — $ 1,542 Total $ — $ 1,542 For the year ended December 31, 2020 2019 Cash generated from other activities and excess cash $ — $ 1,150 Total $ — $ 1,150
Components of Assets, Liabilities, and Equity Related to Joint Venture	Balance Sheet December 31, 2020 December 31, 2019 December 31, 2018 Assets Investment in hotel properties, net $ 1,604,501 $ 2,221,718 $ 2,309,396 Other assets 79,136 104,560 118,600 Total Assets $ 1,683,637 $ 2,326,278 $ 2,427,996 Liabilities Mortgages and notes payable, net $ 1,622,305 $ 1,612,217 $ 1,606,334 Other Liabilities 80,423 34,948 37,051 Total Liabilities 1,702,728 1,647,165 1,643,385 Equity Chatham Lodging Trust (1,835) 69,008 79,744 Joint Venture Partner (17,256) 610,105 704,867 Total Equity (19,091) 679,113 784,611 Total Liabilities and Equity $ 1,683,637 $ 2,326,278 $ 2,427,996
Components of Net Loss, Including Share, Related to Joint Venture	For the year ended December 31, 2020 2019 2018 Revenue $ 246,694 $ 496,485 $ 498,507 Total hotel operating expenses 216,846 329,879 329,756 Impairment loss 578,217 41,132 — Hotel operating income $ 29,848 $ 166,606 $ 168,751 Net loss from continuing operations $ (701,880) $ (76,869) $ (24,400) Loss on sale of hotels $ (15) $ (2,129) $ — Net loss $ (701,895) $ (78,998) $ (24,400) Loss allocable to the Company $ (8,420) $ (8,044) $ (2,472) Basis difference adjustment $ 996 $ 1,596 $ 1,596 Total loss from unconsolidated real estate entities attributable to Chatham $ (7,424) $ (6,448) $ (876)

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Components of Mortgage Debt	Debt consisted of the following (in thousands): Loan/Collateral Interest Rate Maturity Date 12/31/20 Property Balance Outstanding as of December 31, 2020 December 31, Revolving Credit Facility (1) 3.07 % March 8, 2022 $ 608,319 $ 135,300 $ 90,000 Construction loan (2) 7.75 % August 4, 2024 43,651 13,325 — Residence Inn by Marriott New Rochelle, NY 5.75 % September 1, 2021 21,883 12,602 12,936 Residence Inn by Marriott San Diego, CA 4.66 % February 6, 2023 — — 27,272 Homewood Suites by Hilton San Antonio, TX 4.59 % February 6, 2023 28,622 15,195 15,563 Residence Inn by Marriott Vienna, VA 4.49 % February 6, 2023 30,996 20,780 21,291 Courtyard by Marriott Houston, TX 4.19 % May 6, 2023 30,152 17,126 17,559 Hyatt Place Pittsburgh, PA 4.65 % July 6, 2023 33,760 21,031 21,520 Residence Inn by Marriott Bellevue, WA 4.97 % December 6, 2023 62,419 42,998 43,857 Residence Inn by Marriott Garden Grove, CA 4.79 % April 6, 2024 41,246 31,463 32,053 Residence Inn by Marriott Silicon Valley I, CA 4.64 % July 1, 2024 75,680 63,418 64,406 Residence Inn by Marriott Silicon Valley II, CA 4.64 % July 1, 2024 83,931 69,192 70,270 Residence Inn by Marriott San Mateo, CA 4.64 % July 1, 2024 62,652 47,564 48,305 Residence Inn by Marriott Mountain View, CA 4.64 % July 1, 2024 48,563 37,092 37,670 SpringHill Suites by Marriott Savannah, GA 4.62 % July 6, 2024 33,349 29,358 29,817 Hilton Garden Inn Marina del Rey, CA 4.68 % July 6, 2024 38,044 20,490 20,931 Homewood Suites by Hilton Billerica, MA 4.32 % December 6, 2024 13,014 15,411 15,693 Hampton Inn & Suites Houston Medical Cntr., TX 4.25 % January 6, 2025 15,769 17,396 17,717 Total debt before unamortized debt issue costs $ 1,272,050 $ 609,741 $ 586,860 Unamortized mortgage debt issue costs (971) (1,395) Total debt outstanding 608,770 585,465 1. The interest rate for the revolving credit facility is variable and based on LIBOR (subject to a 0.5% floor) plus a spread of 2.50% if borrowings remain at or below $200 million and a spread of 3.0% if borrowings exceed $200 million. At December 31, 2020 and 2019, the Company had $135.3 million and $90.0 million, respectively, of outstanding borrowings under its $250.0 million revolving credit facility. The credit facility provides two six-month extension options that would extend the final maturity to March 8, 2023 if exercised. The Company can exercise the extension options as long as there is no default. 2. On August 4, 2020, a subsidiary of the Company entered into an agreement with affiliates of Mack Real Estate Credit Strategies to obtain a loan with a total commitment of up to $40 million to fund the remaining construction costs of the Warner Center hotel development. The loan has an initial term of 4 years and there are two six-month extension options. The rate on the loan is LIBOR, subject to a 0.25% floor, plus a spread of 7.5%.
Future Scheduled Principal Payments of Debt Obligations	Future scheduled principal payments of debt obligations as of December 31, 2020, for each of the next five calendar years and thereafter are as follows (in thousands): Amount 2021 $ 21,441 2022 144,549 2023 117,875 2024 309,941 2025 15,935 Thereafter — Total debt before unamortized debt issue costs $ 609,741 Unamortized mortgage debt issue costs (971) Total debt outstanding $ 608,770

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Components of Income Tax Expense	The components of income tax expense for the following periods are as follows (in thousands): For the year ended December 31, 2020 2019 2018 Current: Federal $ (29) $ (29) $ — State — — — Current tax expense (benefit) $ (29) $ (29) $ — Deferred: Federal 29 29 (28) State — — — Deferred tax expense (benefit) 29 29 (28) Total income tax expense (benefit) $ — $ — $ (28)
Schedule of Effective Income Tax Rate Reconciliation	The difference between income tax expense and the amount computed by applying the statutory federal income tax rate to the combined income of the Company's TRS before taxes were as follows (in thousands): For the year ended December 31, 2020 2019 2018 Book loss before income taxes of the TRS $ (4,838) $ (8,167) $ (6,040) Statutory rate of 21% for 2018 and after $ (1,016) $ (1,715) $ (1,268) Effect of state and local income taxes, net of federal tax benefit (253) (347) (200) Permanent adjustments 4 8 12 Change in valuation allowance 1,445 2,100 1,456 Valuation allowance release — — (28) Other (180) (46) — Total income tax (benefit) expense $ — $ — $ (28) Effective tax rate — % — % 0.46 %
Schedule of Deferred Tax Assets and Liabilities	The tax effect of each type of temporary difference and carry forward that gives rise to the deferred tax asset as of December 31, 2020 and 2019 are as follows (in thousands): For the year ended December 31, 2020 2019 Gross Deferred Tax Assets: Allowance for doubtful accounts $ 133 $ 117 Accrued compensation 547 870 Net operating loss 6,541 4,741 AMT credit — 29 Gross Deferred Tax Assets $ 7,221 $ 5,757 Less: Valuation Allowance $ (7,070) $ (5,625) Total Deferred Tax Assets Net of Valuation Allowance 151 132 Gross Deferred Tax Liabilities: Total Book/tax difference in partnership (151) (103) Gross Deferred Tax Liabilities: (151) (103) Net, Deferred Tax Assets: — 29

Dividends Declared and Paid (Ta

Dividends Declared and Paid (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Dividends Declared and Paid	The dividends and distributions and their tax characterization were as follows: Record Payment Common LTIP Taxable Ordinary Income Return of Capital Section 199A Dividends January 1/31/2020 2/28/2020 $ 0.11 $ 0.11 $ — $ 0.1100 $ — February 2/28/2020 3/27/2020 0.11 0.11 — 0.1100 — Total 2020 $ 0.22 $ 0.22 $ — $ 0.2200 $ — Record Payment Common LTIP Taxable Ordinary Income Return of Capital Section 199A Dividends January 1/31/2019 2/22/2019 $ 0.11 $ 0.11 $ 0.0847 $ 0.0253 $ 0.0847 February 2/28/2019 3/29/2019 0.11 0.11 0.0847 0.0253 0.0847 March 3/29/2019 4/26/2019 0.11 0.11 0.0847 0.0253 0.0847 1st Quarter 2019 $ 0.33 $ 0.33 $ 0.2541 $ 0.0759 $ 0.2541 April 4/30/2019 5/31/2019 $ 0.11 $ 0.11 $ 0.0847 $ 0.0253 $ 0.0847 May 5/31/2019 6/28/2019 0.11 0.11 0.0847 0.0253 0.0847 June 6/28/2019 7/26/2019 0.11 0.11 0.0847 0.0253 0.0847 2nd Quarter 2019 $ 0.33 $ 0.33 $ 0.2541 $ 0.0759 $ 0.2541 July 7/31/2019 8/30/2019 $ 0.11 $ 0.11 $ 0.0847 $ 0.0253 $ 0.0847 August 8/30/2019 9/27/2019 0.11 0.11 0.0847 0.0253 0.0847 September 9/30/2019 10/25/2019 0.11 0.11 0.0847 0.0253 0.0847 3rd Quarter 2019 $ 0.33 $ 0.33 $ 0.2541 $ 0.0759 $ 0.2541 October 10/31/2019 11/29/2019 $ 0.11 $ 0.11 $ 0.0847 $ 0.0253 $ 0.0847 November 11/29/2019 12/27/2019 0.11 0.11 0.0847 0.0253 0.0847 December 12/31/2019 1/31/2020 0.11 0.11 0.0847 0.0253 0.0847 4th Quarter 2019 $ 0.33 $ 0.33 $ 0.2541 $ 0.0759 $ 0.2541 Total 2019 $ 1.32 $ 1.32 $ 1.0164 $ 0.3036 $ 1.0164

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Reconciliation of Amounts Used in Calculating Basic and Diluted Net Income (Loss) Per Share	The following is a reconciliation of the amounts used in calculating basic and diluted net income per share (in thousands, except share and per share data): For the year ended December 31, 2020 2019 2018 Numerator: Net income $ (76,023) $ 18,703 $ 30,641 Dividends paid on unvested shares and LTIP units (50) (297) (310) Net income attributable to common shareholders $ (76,073) $ 18,406 $ 30,331 Denominator: Weighted average number of common shares - basic 46,961,039 46,788,784 46,073,515 Effect of dilutive securities: Unvested shares — 234,496 170,145 Weighted average number of common shares - diluted 46,961,039 47,023,280 46,243,660 Basic income per Common Share: Net income attributable to common shareholders per weighted average common share $ (1.62) $ 0.39 $ 0.66 Diluted income per Common Share: Net income attributable to common shareholders per weighted average common share $ (1.62) $ 0.39 $ 0.66

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Summary of Restricted Share Awards	A summary of the Company’s restricted share awards for the years ended December 31, 2020, 2019 and 2018 is as follows: December 31, 2020 December 31, 2019 December 31, 2018 Number of Shares Weighted - Average Grant Date Fair Value Number of Shares Weighted - Average Grant Date Fair Value Number of Shares Weighted - Average Grant Date Fair Value Non-vested at beginning of the period 5,001 $ 18.33 8,334 $ 18.52 57,514 $ 23.78 Granted — — — — 5,000 17.40 Vested (3,334) 18.80 (3,333) 18.80 (30,084) 26.24 Forfeited — — — — (24,096) 21.21 Unvested at end of the period 1,667 $ 17.40 5,001 $ 18.33 8,334 $ 18.52
Schedule of Share-based Compensation Arrangements by Share-based Payment Award	A summary of the Company's LTIP unit awards for the years ended years ended December 31, 2020, 2019 and 2018 is as follows: December 31, 2020 December 31, 2019 December 31, 2018 Number of Weighted - Number of Weighted - Number of Weighted - Non-vested at beginning of the period 598,320 $ 18.30 476,398 $ 17.73 482,056 $ 16.58 Granted 325,507 13.42 221,853 $ 18.73 244,917 $ 16.94 Vested (254,218) 18.82 (99,931) $ 16.55 (67,275) $ 16.42 Forfeited — — — $ — (183,300) $ 14.13 Non-vested at end of period 669,609 $ 15.73 598,320 $ 18.30 476,398 $ 17.73
Schedule of Share-based Payment Award, Performance-Based Long-Term Incentive Plan Payout Unit Awards	The 2020 Performance-Based LTIP Unit Awards, if earned, will be paid out between 50% and 150% of target value as follows: Relative TSR Hurdles (Percentile) Payout Percentage Threshold 25th 50% Target 50th 100% Maximum 75th 150%
Schedule of Share-based Payment Award, Valuation Assumptions	The grant date fair value of the LTIPs and the assumptions used to estimate the values are as follows: Grant Date Number of Units Granted Estimated Value per Unit Volatility Dividend Yield Risk Free Interest Rate Outperformance Plan 6/1/2015 183,300 $14.13 26% 4.5% 0.95% 2016 Time-Based LTIP Unit Awards 1/28/2016 72,966 $16.69 28% —% 0.79% 2016 Performance-Based LTIP Unit Awards 1/28/2016 39,285 $11.09 30% 5.8% 1.13% 2017 Time-Based LTIP Unit Awards 3/1/2017 89,574 $18.53 24% —% 0.92% 2017 Performance-Based LTIP Unit Awards 3/1/2017 134,348 $19.65 25% 5.8% 1.47% 2018 Time-Based LTIP Unit Awards 3/1/2018 97,968 $16.83 26% —% 2.07% 2018 Performance-Based LTIP Unit Awards 3/1/2018 146,949 $17.02 26% 6.2% 2.37% 2019 Time-Based LTIP Unit Awards 3/1/2019 88,746 $18.45 21% —% 2.57% 2019 Performance-Based LTIP Unit Awards 3/1/2019 133,107 $18.91 21% 6.2% 2.55% 2020 Time-Based LTIP Unit Awards 3/1/2020 130,206 $13.05 20% —% 1.06% 2020 Performance-Based LTIP Unit Awards 3/1/2020 195,301 $13.66 20% 8.1% 0.90%

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of Operating Lease Maturity	The following table includes information regarding the Company's total minimum lease payments for which it is the lessee, as of December 31, 2020, for each of the next five calendar years and thereafter (in thousands): Total Future Lease Payments Amount 2021 $ 2,051 2022 2,071 2023 2,093 2024 2,115 2025 2,186 Thereafter 66,720 Total lease payments $ 77,236 Less: Imputed interest (54,003) Present value of lease liabilities $ 23,233
Schedule of Lessee Operating Lease Liability Maturity, Ground, Air Rights, Garage and Office Leases	Total Future Lease Payments Amount 2020 $ 2,027 2021 2,051 2022 2,071 2023 2,093 2024 2,115 Thereafter 68,906 Total lease payments $ 79,263 Less: Imputed interest (55,546) Present value of lease liabilities $ 23,717
Schedule of Right of Use Asset and Liability	The following tables include information regarding the right of use assets and lease liabilities of the Company as of December 31, 2020: Right of Use Asset Lease Liability Balance as of January 1, 2020 $ 21,270 $ 23,717 Amortization (629) (484) Balance as of December 31, 2020 $ 20,641 $ 23,233
Schedule of Lease Cost	Lease Term and Discount Rate December 31, 2020 Weighted-average remaining lease term (years) 40.62 Weighted-average discount rate 6.57%

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Management Agreement Terms	As of December 31, 2020, terms of the Company's management agreements are (dollars are not in thousands): Property Management Company Base Management Fee Monthly Accounting Fee Monthly Revenue Management Fee Incentive Management Fee Cap Homewood Suites by Hilton Boston-Billerica/ Bedford/ Burlington IHM 3.0 % 1,200 1,000 1.0 % Homewood Suites by Hilton Minneapolis-Mall of America IHM 3.0 % 1,200 1,000 1.0 % Homewood Suites by Hilton Nashville-Brentwood IHM 3.0 % 1,200 1,000 1.0 % Homewood Suites by Hilton Dallas-Market Center IHM 3.0 % 1,200 1,000 1.0 % Homewood Suites by Hilton Hartford-Farmington IHM 3.0 % 1,200 1,000 1.0 % Homewood Suites by Hilton Orlando-Maitland IHM 3.0 % 1,200 1,000 1.0 % Hampton Inn & Suites Houston-Medical Center IHM 3.0 % 1,000 1,000 1.0 % Residence Inn Long Island Holtsville IHM 3.0 % 1,000 1,000 1.0 % Residence Inn White Plains IHM 3.0 % 1,000 750 1.0 % Residence Inn New Rochelle IHM 3.0 % 1,000 750 1.0 % Residence Inn Garden Grove IHM 3.0 % 1,200 1,000 1.0 % Homewood Suites by Hilton San Antonio River Walk IHM 3.0 % 1,200 1,000 1.0 % Residence Inn Washington DC IHM 3.0 % 1,200 1,000 1.0 % Residence Inn Tysons Corner IHM 3.0 % 1,200 1,000 1.0 % Hampton Inn Portland Downtown IHM 3.0 % 1,000 550 1.0 % Courtyard Houston IHM 3.0 % 1,000 550 1.0 % Hyatt Place Pittsburgh North Shore IHM 3.0 % 1,500 1,000 1.0 % Hampton Inn Exeter IHM 3.0 % 1,200 1,000 1.0 % Hilton Garden Inn Denver Tech IHM 3.0 % 1,500 1,000 1.0 % Residence Inn Bellevue IHM 3.0 % 1,200 1,000 1.0 % Springhill Suites Savannah IHM 3.0 % 1,200 1,000 1.0 % Residence Inn Silicon Valley I IHM 3.0 % 1,200 1,000 1.0 % Residence Inn Silicon Valley II IHM 3.0 % 1,200 1,000 1.0 % Residence Inn San Mateo IHM 3.0 % 1,200 1,000 1.0 % Residence Inn Mountain View IHM 3.0 % 1,200 1,000 1.0 % Hyatt Place Cherry Creek IHM 3.0 % 1,500 1,000 1.0 % Courtyard Addison IHM 3.0 % 1,500 1,000 1.0 % Courtyard West University Houston IHM 3.0 % 1,500 1,000 1.0 % Residence Inn West University Houston IHM 3.0 % 1,200 1,000 1.0 % Hilton Garden Inn Burlington IHM 3.0 % 1,500 1,000 1.0 % Residence Inn San Diego Gaslamp IHM 3.0 % 1,500 1,000 1.0 % Hilton Garden Inn Marina del Rey IHM 3.0 % 1,500 1,000 1.0 % Residence Inn Dedham IHM 3.0 % 1,200 1,000 1.0 % Residence Inn Il Lugano IHM 3.0 % 1,500 1,000 1.0 % Hilton Garden Inn Portsmouth IHM 3.0 % 1,500 1,000 1.0 % Courtyard Summerville IHM 3.0 % 1,500 1,000 1.0 % Embassy Suites Springfield IHM 3.0 % 1,500 1,000 1.0 % Residence Inn Summerville IHM 3.0 % 1,500 1,000 1.0 % Courtyard Dallas IHM 3.0 % 1,500 1,000 1.0 %
Schedule of Franchise Agreement Terms	Terms of the Company's franchise agreements are as of December 31, 2020: Property Franchise/Royalty Fee Marketing/Program Fee Expiration Homewood Suites by Hilton Boston-Billerica/ Bedford/ Burlington 4.0 % 4.0 % 2025 Homewood Suites by Hilton Minneapolis-Mall of America 4.0 % 4.0 % 2025 Homewood Suites by Hilton Nashville-Brentwood 4.0 % 4.0 % 2025 Homewood Suites by Hilton Dallas-Market Center 4.0 % 4.0 % 2025 Homewood Suites by Hilton Hartford-Farmington 4.0 % 4.0 % 2025 Homewood Suites by Hilton Orlando-Maitland 4.0 % 4.0 % 2025 Hampton Inn & Suites Houston-Medical Center 6.0 % 4.0 % 2035 Residence Inn Long Island Holtsville 5.5 % 2.5 % 2025 Residence Inn White Plains 5.5 % 2.5 % 2030 Residence Inn New Rochelle 5.5 % 2.5 % 2030 Residence Inn Garden Grove 5.0 % 2.5 % 2031 Homewood Suites by Hilton San Antonio River Walk 4.0 % 4.0 % 2026 Residence Inn Washington DC 5.5 % 2.5 % 2033 Residence Inn Tysons Corner 5.0 % 2.5 % 2031 Hampton Inn Portland Downtown 6.0 % 4.0 % 2032 Courtyard Houston 5.5 % 2.0 % 2030 Hyatt Place Pittsburgh North Shore 5.0 % 3.5 % 2030 Hampton Inn Exeter 6.0 % 4.0 % 2031 Hilton Garden Inn Denver Tech 5.5 % 4.3 % 2028 Residence Inn Bellevue 5.5 % 2.5 % 2033 Springhill Suites Savannah 5.0 % 2.5 % 2033 Residence Inn Silicon Valley I 5.5 % 2.5 % 2029 Residence Inn Silicon Valley II 5.5 % 2.5 % 2029 Residence Inn San Mateo 5.5 % 2.5 % 2029 Residence Inn Mountain View 5.5 % 2.5 % 2029 Hyatt Place Cherry Creek 3% to 5% 3.5 % 2034 Courtyard Addison 5.5 % 2.0 % 2029 Courtyard West University Houston 5.5 % 2.0 % 2029 Residence Inn West University Houston 6.0 % 2.5 % 2024 Hilton Garden Inn Burlington 5.5 % 4.3 % 2029 Residence Inn San Diego Gaslamp 6.0 % 2.5 % 2035 Hilton Garden Inn Marina del Rey 3% to 5.5% 4.3 % 2030 Residence Inn Dedham 6.0 % 2.5 % 2030 Residence Inn Il Lugano 3% to 6% 2.5 % 2045 Hilton Garden Inn Portsmouth 5.5 % 4.0 % 2037 Courtyard Summerville 6.0 % 2.5 % 2037 Embassy Suites Springfield 5.5 % 4.0 % 2037 Residence Inn Summerville 6.0 % 2.5 % 2038 Courtyard Dallas 4% to 6% 2.0 % 2038

Quarterly Operating Results (_2

Quarterly Operating Results (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Quarter Ended - 2020 March 31 June 30 September 30 December 31 (in thousands, except share and per share data) Total revenue $ 60,209 $ 20,173 $ 34,969 $ 29,565 Total operating expenses 77,895 38,793 45,214 24,667 Operating income (17,686) (18,620) (10,245) 4,898 Net income attributable to common shareholders (27,783) (26,827) (18,057) (3,356) Income (loss) per common share, basic (1) (0.59) (0.57) (0.38) (0.07) Income (loss) per common share, diluted (1) (0.59) (0.57) (0.38) (0.07) Weighted average number of common shares outstanding: Basic 46,948,533 46,960,289 46,965,526 46,969,483 Diluted 46,948,533 46,960,289 46,965,526 46,969,483 Quarter Ended - 2019 March 31 June 30 September 30 December 31 (in thousands, except share and per share data) Total revenue $ 75,679 $ 87,874 $ 90,080 $ 74,695 Total operating expenses 65,786 71,741 70,182 67,234 Operating income 9,893 16,133 19,898 7,461 Net income attributable to common shareholders 1,613 9,437 10,002 (2,349) Income per common share, basic (1) 0.03 0.20 0.21 (0.05) Income per common share, diluted (1) 0.03 0.20 0.21 (0.05) Weighted average number of common shares outstanding: Basic 46,556,710 46,760,016 46,913,922 46,919,035 Diluted 46,734,958 46,976,999 47,152,166 47,220,671 (1) The sum of per share amounts for the four quarters may differ from the annual per share amounts due to the required method of computing weighted-average number of common shares outstanding in the respective periods and share offerings that occurred during the year. Unvested restricted shares and unvested LTIP units could potentially dilute basic earnings per share in the future were not included in the computation of diluted loss per share, for the periods where a loss has been recorded, because they would have been anti-dilutive for the periods presented.

Organization - Additional Infor

Organization - Additional Information (Details)	12 Months Ended
	Dec. 31, 2020HotelRoomstate	Nov. 07, 2019Hotel	Mar. 01, 2019	Feb. 28, 2019	Nov. 17, 2014	Jun. 09, 2014
Subsidiary, Sale of Stock [Line Items]
Number of hotels in ownership by Company | Hotel	39
Aggregate number of rooms in hotels | Room	5,900
Number of states in which hotels are owned | state	15
Initial term of each TRS lease	5 years
Operating Partnership
Subsidiary, Sale of Stock [Line Items]
Percentage of common units of limited partnership owned (as a percentage)	100.00%
Island Hospitality Management Inc.
Subsidiary, Sale of Stock [Line Items]
Ownership percentage in related party owned by the company's chairman	52.50%
NewINK Joint Venture
Subsidiary, Sale of Stock [Line Items]
Number of hotels in ownership by Company | Hotel	46	46
Indirect ownership in the leased, hotels						10.30%
Innkeepers Joint Venture
Subsidiary, Sale of Stock [Line Items]
Aggregate number of rooms in hotels | Room	5,948
Inland Joint Venture
Subsidiary, Sale of Stock [Line Items]
Number of hotels in ownership by Company | Hotel	48
Aggregate number of rooms in hotels | Room	6,402
Indirect ownership in the leased, hotels					10.00%
Island Hospitality Management Inc.
Subsidiary, Sale of Stock [Line Items]
Ownership percentage in related party owned by the company's chairman			1.50%	51.00%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Investment in Hotel Properties (Details)	12 Months Ended
	Dec. 31, 2020USD ($)Hotel	Dec. 31, 2019USD ($)Hotel
Property, Plant and Equipment [Line Items]
Goodwill impairment loss | $	$ 0	$ 0
Number of hotel properties held for sale | Hotel	0	0
Building
Property, Plant and Equipment [Line Items]
Useful life	40 years
Land Improvements
Property, Plant and Equipment [Line Items]
Useful life	20 years
Building Improvements | Minimum
Property, Plant and Equipment [Line Items]
Useful life	5 years
Building Improvements | Maximum
Property, Plant and Equipment [Line Items]
Useful life	20 years
Furniture, fixtures, and equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful life	1 year
Furniture, fixtures, and equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful life	10 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Investment in Unconsolidated Real Estate Entities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Impairment loss on investment in unconsolidated real estate entities	$ 15,282	$ 0	$ 0
Inland Joint Venture
Related Party Transaction [Line Items]
Impairment loss on investment in unconsolidated real estate entities	$ 15,300

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Restricted Cash and Hotel Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 10,329	$ 13,562
Hotel receivables, allowance for doubtful accounts	248	451
Renovation, Property Tax And Insurance Escrows
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 10,300	$ 13,600

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Deferred Costs and Mortgage Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Deferred Costs [Line Items]
Loan costs	$ 4,455	$ 2,104
Franchise fees	4,311	4,409
Other	75	129
Deferred costs, gross	8,841	6,642
Less accumulated amortization	(3,457)	(2,371)
Deferred costs, net	5,384	4,271
Amortization of deferred franchise fees	244	247	$ 237
Amortization of deferred financing fees included in interest expense	1,275	912	902
Franchise
Schedule of Deferred Costs [Line Items]
Amortization of deferred franchise fees	200	200	200
Loans
Schedule of Deferred Costs [Line Items]
Amortization of deferred financing fees included in interest expense	900	500	500
Mortgages
Schedule of Deferred Costs [Line Items]
Amortization of deferred financing fees included in interest expense	$ 400	$ 400	$ 400

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Schedule of Mortgage Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Mortgage debt	$ 461,116	$ 496,860
Deferred financing costs	(971)	(1,395)
Mortgage debt, net	$ 460,145	$ 495,465

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)Hotel	Dec. 31, 2019USD ($)	Nov. 07, 2019Hotel	Jan. 01, 2019USD ($)
Income Tax Holiday [Line Items]
Percentage of REIT taxable income distributed to its shareholders (at least)	90.00%
Tax holiday period for REIT taxable income	4 years
Number of hotels in ownership by Company | Hotel	39
Lease liability, net	$ 23,233	$ 23,717
Right of use asset, net	$ 20,641	$ 21,270
Accounting Standards Update 2016-02
Income Tax Holiday [Line Items]
Lease liability, net				$ 25,700
Right of use asset, net				$ 23,100
NewINK Joint Venture
Income Tax Holiday [Line Items]
Number of hotels in ownership by Company | Hotel	46		46
Inland Joint Venture
Income Tax Holiday [Line Items]
Number of hotels in ownership by Company | Hotel	48
Class A Performance LTIP Units
Income Tax Holiday [Line Items]
Distribution entitlement (in percentage)	10.00%

Acquisition of Hotel Properti_3

Acquisition of Hotel Properties - Additional Information (Details) - USD ($) $ in Millions	Jul. 02, 2019	Dec. 05, 2018	Aug. 27, 2018	Dec. 31, 2019
Business Acquisition [Line Items]
Property acquisition costs capitalized				$ 0.1
Courtyard Summerville, SC
Business Acquisition [Line Items]
Consideration transferred			$ 20.8
Courtyard Dallas Downtown, TX
Business Acquisition [Line Items]
Consideration transferred		$ 49
Silicon Valley, California
Business Acquisition [Line Items]
Consideration transferred	$ 8.1

Acquisition of Hotel Properti_4

Acquisition of Hotel Properties - Allocation of Purchase Price to Hotels Based on Fair Value (Details) $ in Thousands	Dec. 05, 2018USD ($)Room	Aug. 27, 2018USD ($)Room	Dec. 31, 2020USD ($)Room
Schedule of Business Acquisitions, Purchase Price Allocation [Line Items]
Number of rooms (unaudited) | Room			263
Land			$ 5,200
Building and improvements			59,820
Furniture, fixtures and equipment			4,574
Cash			5
Accounts receivable			8
Prepaid expenses and other assets			68
Accounts payable and accrued expenses			(42)
Net assets acquired, net of cash			$ 69,628
Residence Inn Summerville, SC
Schedule of Business Acquisitions, Purchase Price Allocation [Line Items]
Number of rooms (unaudited) | Room		96
Land		$ 2,300
Building and improvements		17,060
Furniture, fixtures and equipment		1,234
Cash		0
Accounts receivable		0
Prepaid expenses and other assets		0
Accounts payable and accrued expenses		(9)
Net assets acquired, net of cash		$ 20,585
Courtyard Dallas Downtown, TX
Schedule of Business Acquisitions, Purchase Price Allocation [Line Items]
Number of rooms (unaudited) | Room	167
Land	$ 2,900
Building and improvements	42,760
Furniture, fixtures and equipment	3,340
Cash	5
Accounts receivable	8
Prepaid expenses and other assets	68
Accounts payable and accrued expenses	(33)
Net assets acquired, net of cash	$ 49,043

Acquisition of Hotel Properti_5

Acquisition of Hotel Properties - Revenue and Operating Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Residence Inn Summerville, SC
Business Acquisition [Line Items]
Revenue	$ 2,968	$ 3,645
Operating Income	903	1,250
Courtyard Dallas Downtown, TX
Business Acquisition [Line Items]
Revenue	3,574	7,833
Operating Income	838	2,479
Total
Business Acquisition [Line Items]
Revenue	6,542	11,478
Operating Income	$ 1,741	$ 3,729

Disposition of Hotel Properti_3

Disposition of Hotel Properties - Additional Information (Details) - USD ($) $ in Thousands	May 15, 2019	May 07, 2019	Dec. 20, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale of hotel property				$ 21,116	$ (3,282)	$ (18)
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Operating income in disposition of property				2,013	5,004	5,843
Residence Inn Mission Valley | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Amount sold in disposition of property			$ 67,000
Gain (loss) on sale of hotel property			21,100
Mortgage loan secured by hotel			$ 26,700
Operating income in disposition of property				2,013	4,782	4,608
Courtyard Altoona | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Amount sold in disposition of property		$ 4,600
Gain (loss) on sale of hotel property		$ (4,400)
Operating income in disposition of property				0	24	517
Springhill Suites By Marriott | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Amount sold in disposition of property	$ 5,100
Gain (loss) on sale of hotel property	$ 1,100
Operating income in disposition of property				$ 0	$ 198	$ 718

Investment in Hotel Propertie_2

Investment in Hotel Properties (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Schedule of Investments [Line Items]
Land and improvements	$ 287,049	$ 296,884
Building and improvements	1,195,276	1,216,849
Furniture, fixtures and equipment	84,381	81,707
Renovations in progress	11,225	31,589
Investment in hotel properties, at cost	1,577,931	1,627,029
Less: accumulated depreciation	(312,757)	(279,913)
Investment in hotel properties, net	1,265,174	$ 1,347,116
Estimated total development costs	70,000
California
Schedule of Investments [Line Items]
Costs of development incurred to date	43,700
California | Land
Schedule of Investments [Line Items]
Costs of development incurred to date	6,600
California | Other Development Costs
Schedule of Investments [Line Items]
Costs of development incurred to date	$ 37,100

Investment in Unconsolidated _3

Investment in Unconsolidated Entities - Additional Information (Details)	Dec. 23, 2020USD ($)	Sep. 24, 2020USD ($)portfolio	Nov. 07, 2019USD ($)optionHotel	Jun. 09, 2017USD ($)option	May 09, 2017USD ($)optionHotel	Dec. 31, 2020USD ($)Hotel	Dec. 31, 2020USD ($)Hotel	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Nov. 17, 2014	Jun. 09, 2014
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated real estate entities						$ 0	$ 0	$ 17,969,000
Number of hotels in ownership by Company | Hotel						39	39
Outstanding borrowing under the revolving credit facility						$ 135,300,000	$ 135,300,000	90,000,000
Percentage of maximum amount of debt outstanding							15.00%
Percentage of outstanding debt balances							20.00%
Number of hospitality portfolios | portfolio		6
Proceeds from sale of portfolios		$ 67,500,000
Proceeds from sale of interest in unconsolidated entities	$ 2,800,000
Impairment loss on investment in unconsolidated real estate entities							$ 15,282,000	0	$ 0
NewINK Joint Venture
Schedule of Equity Method Investments [Line Items]
Indirect ownership in the leased, hotels											10.30%
Percentage ownership by third party (in percentage)											89.70%
Investment in unconsolidated real estate entities						2,700,000	2,700,000	40,600,000
Difference between carrying amount and share of partners' capital						$ 22,700,000	22,700,000	$ 55,800,000
Impairment of real estate							$ 32,200,000
Number of hotels in ownership by Company | Hotel			46			46	46
Payments for advance to affiliate						$ 15,200,000
Investment in joint venture						$ (20,000,000)	$ (20,000,000)
Inland Joint Venture
Schedule of Equity Method Investments [Line Items]
Indirect ownership in the leased, hotels										10.00%
Percentage ownership by third party (in percentage)										90.00%
Number of hotels in ownership by Company | Hotel						48	48
Investment in joint venture						$ 0	$ 0
Impairment loss on investment in unconsolidated real estate entities							$ 15,300,000
Senior Notes | NewINK Joint Venture
Schedule of Equity Method Investments [Line Items]
Loan amount refinanced					$ 840,000,000
Number of hotels in ownership by Company | Hotel					47
Outstanding borrowing under the revolving credit facility			$ 855,000,000		$ 850,000,000
Senior Notes | Inland Joint Venture
Schedule of Equity Method Investments [Line Items]
Loan amount refinanced				$ 817,000,000
Outstanding borrowing under the revolving credit facility				780,000,000
Additional borrowing capacity				$ 5,000,000
LIBOR | Senior Notes | NewINK Joint Venture
Schedule of Equity Method Investments [Line Items]
Debt instrument, basis spread on variable rate			2.82%		2.79%
Number of extension options | option			5		3
Period of extension options			1 year		1 year
LIBOR | Senior Notes | Inland Joint Venture
Schedule of Equity Method Investments [Line Items]
Debt instrument, basis spread on variable rate				3.30%
Number of extension options | option				3
Period of extension options				1 year

Investment in Unconsolidated _4

Investment in Unconsolidated Entities - Cash Received and Distributions from Joint Venture (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
NewINK Joint Venture
Schedule of Equity Method Investments [Line Items]
Cash generated from other activities and excess cash	$ 0	$ 1,542
Net change in cash and cash equivalents	0	1,542
Inland Joint Venture
Schedule of Equity Method Investments [Line Items]
Cash generated from other activities and excess cash	0	1,150
Net change in cash and cash equivalents	$ 0	$ 1,150

Investment in Unconsolidated _5

Investment in Unconsolidated Entities - Components of Assets, Liabilities, and Equity Related to Joint Venture (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Assets
Investment in hotel properties, net	$ 1,265,174	$ 1,347,116
Total assets	1,370,257	1,438,574
Liabilities
Total liabilities	677,797	663,550
Equity
Chatham Lodging Trust	677,752	762,377
Total equity	692,460	775,024	$ 807,418	$ 809,780
Total liabilities and equity	1,370,257	1,438,574
Total Minority Interest Joint Ventures | Equity Method Investment, Nonconsolidated Investee or Group of Investees
Assets
Investment in hotel properties, net	1,604,501	2,221,718	2,309,396
Other assets	79,136	104,560	118,600
Total assets	1,683,637	2,326,278	2,427,996
Liabilities
Mortgages and notes payable, net	1,622,305	1,612,217	1,606,334
Other Liabilities	80,423	34,948	37,051
Total liabilities	1,702,728	1,647,165	1,643,385
Equity
Chatham Lodging Trust	(1,835)	69,008	79,744
Joint Venture Partner	(17,256)	610,105	704,867
Total equity	(19,091)	679,113	784,611
Total liabilities and equity	$ 1,683,637	$ 2,326,278	$ 2,427,996

Investment in Unconsolidated _6

Investment in Unconsolidated Entities - Components of Net Loss, Including Share, Related to Joint Venture (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Revenue	$ 29,565	$ 34,969	$ 20,173	$ 60,209	$ 74,695	$ 90,080	$ 87,874	$ 75,679	$ 144,916	$ 328,328	$ 324,230
Total operating expenses	24,667	45,214	38,793	77,895	67,234	70,182	71,741	65,786
Operating (loss) income	4,898	(10,245)	(18,620)	(17,686)	7,461	19,898	16,133	9,893	(41,653)	53,385	58,134
Net (loss) income attributable to common shareholders	$ (3,356)	$ (18,057)	$ (26,827)	$ (27,783)	$ (2,349)	$ 10,002	$ 9,437	$ 1,613	(76,023)	18,703	30,641
Total Minority Interest Joint Ventures
Schedule of Equity Method Investments [Line Items]
Revenue									246,694	496,485	498,507
Total operating expenses									216,846	329,879	329,756
Impairment loss									578,217	41,132	0
Operating (loss) income									29,848	166,606	168,751
Net loss from continuing operations									(701,880)	(76,869)	(24,400)
Loss on sale of hotels									(15)	(2,129)	0
Net (loss) income attributable to common shareholders									(701,895)	(78,998)	(24,400)
Loss allocable to the Company									(8,420)	(8,044)	(2,472)
Basis difference adjustment									996	1,596	1,596
Total loss from unconsolidated real estate entities attributable to Chatham									$ (7,424)	$ (6,448)	$ (876)

Debt - Components of Mortgage D

Debt - Components of Mortgage Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Participating Mortgage Loans [Line Items]
Carrying Value	$ 1,272,050
Balance Outstanding	609,741	$ 586,860
Unamortized mortgage debt issue costs	(971)	(1,395)
Total debt outstanding	$ 608,770	585,465
Senior Unsecured Revolving Credit Facility
Participating Mortgage Loans [Line Items]
Interest Rate	3.07%
Carrying Value	$ 608,319
Balance Outstanding	$ 135,300	90,000
Construction Loan
Participating Mortgage Loans [Line Items]
Interest Rate	7.75%
Carrying Value	$ 43,651
Balance Outstanding	$ 13,325	0
Residence Inn by Marriott New Rochelle, NY
Participating Mortgage Loans [Line Items]
Interest Rate	5.75%
Carrying Value	$ 21,883
Balance Outstanding	$ 12,602	12,936
Residence Inn by Marriott San Diego, CA
Participating Mortgage Loans [Line Items]
Interest Rate	4.66%
Carrying Value	$ 0
Balance Outstanding	$ 0	27,272
Homewood Suites by Hilton San Antonio, TX
Participating Mortgage Loans [Line Items]
Interest Rate	4.59%
Carrying Value	$ 28,622
Balance Outstanding	$ 15,195	15,563
Residence Inn by Marriott Vienna, VA
Participating Mortgage Loans [Line Items]
Interest Rate	4.49%
Carrying Value	$ 30,996
Balance Outstanding	$ 20,780	21,291
Courtyard by Marriott Houston, TX
Participating Mortgage Loans [Line Items]
Interest Rate	4.19%
Carrying Value	$ 30,152
Balance Outstanding	$ 17,126	17,559
Hyatt Place Pittsburgh, PA
Participating Mortgage Loans [Line Items]
Interest Rate	4.65%
Carrying Value	$ 33,760
Balance Outstanding	$ 21,031	21,520
Residence Inn by Marriott Bellevue, WA
Participating Mortgage Loans [Line Items]
Interest Rate	4.97%
Carrying Value	$ 62,419
Balance Outstanding	$ 42,998	43,857
Residence Inn by Marriott Garden Grove, CA
Participating Mortgage Loans [Line Items]
Interest Rate	4.79%
Carrying Value	$ 41,246
Balance Outstanding	$ 31,463	32,053
Residence Inn by Marriott Silicon Valley I, CA
Participating Mortgage Loans [Line Items]
Interest Rate	4.64%
Carrying Value	$ 75,680
Balance Outstanding	$ 63,418	64,406
Residence Inn by Marriott Silicon Valley II, CA
Participating Mortgage Loans [Line Items]
Interest Rate	4.64%
Carrying Value	$ 83,931
Balance Outstanding	$ 69,192	70,270
Residence Inn by Marriott San Mateo, CA
Participating Mortgage Loans [Line Items]
Interest Rate	4.64%
Carrying Value	$ 62,652
Balance Outstanding	$ 47,564	48,305
Residence Inn by Marriott Mountain View, CA
Participating Mortgage Loans [Line Items]
Interest Rate	4.64%
Carrying Value	$ 48,563
Balance Outstanding	$ 37,092	37,670
SpringHill Suites by Marriott Savannah, GA
Participating Mortgage Loans [Line Items]
Interest Rate	4.62%
Carrying Value	$ 33,349
Balance Outstanding	$ 29,358	29,817
Hilton Garden Inn Marina del Rey, CA
Participating Mortgage Loans [Line Items]
Interest Rate	4.68%
Carrying Value	$ 38,044
Balance Outstanding	$ 20,490	20,931
Homewood Suites by Hilton Billerica, MA
Participating Mortgage Loans [Line Items]
Interest Rate	4.32%
Carrying Value	$ 13,014
Balance Outstanding	$ 15,411	15,693
Hampton Inn & Suites Houston Medical Cntr., TX
Participating Mortgage Loans [Line Items]
Interest Rate	4.25%
Carrying Value	$ 15,769
Balance Outstanding	$ 17,396	$ 17,717

Debt - Components of Mortgage_2

Debt - Components of Mortgage Debt (Footnotes) (Details)	Aug. 04, 2020USD ($)Hotel	May 06, 2020USD ($)Hotel	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Participating Mortgage Loans [Line Items]
Outstanding borrowing under the revolving credit facility			$ 135,300,000	$ 90,000,000
Construction Debt [Member] | Warner Center
Participating Mortgage Loans [Line Items]
Number of extension options | Hotel	2
Debt instrument, face amount	$ 40,000,000
Debt instrument, term	4 years
LIBOR | Construction Debt [Member] | Warner Center
Participating Mortgage Loans [Line Items]
Debt instrument, basis spread on variable rate	7.50%
Base Rate | Construction Debt [Member] | Warner Center
Participating Mortgage Loans [Line Items]
Debt instrument, basis spread on variable rate	0.25%
Senior Unsecured Revolving Credit Facility
Participating Mortgage Loans [Line Items]
Floor interest rate		0.50%
Borrowing capacity (up to)		$ 200,000,000	250,000,000
Outstanding borrowing under the revolving credit facility			$ 135,300,000	$ 90,000,000
Number of extension options | Hotel		2
Period of extension options		6 months
Senior Unsecured Revolving Credit Facility | LIBOR | Minimum
Participating Mortgage Loans [Line Items]
Debt instrument, basis spread on variable rate		2.50%
Senior Unsecured Revolving Credit Facility | LIBOR | Maximum
Participating Mortgage Loans [Line Items]
Debt instrument, basis spread on variable rate		3.00%

Debt - Additional Information (

Debt - Additional Information (Details)	May 06, 2020USD ($)Hotel	Dec. 31, 2020USD ($)Hotel	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Outstanding borrowing under the revolving credit facility		$ 135,300,000	$ 90,000,000
Number of hotels in ownership by Company | Hotel		39
Interest Rate Cap
Debt Instrument [Line Items]
Fair value of derivative		$ 9,100
Fixed Rate Debt
Debt Instrument [Line Items]
Estimated fair value of debt		462,600,000	501,500,000
Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding borrowing under the revolving credit facility		135,300,000	90,000,000
Maximum borrowing availability under revolving credit facility	$ 200,000,000	250,000,000
Estimated fair value of debt		$ 148,600,000	$ 90,000,000
Minimum liquidity	$ 25,000,000
Number of hotels acquired | Hotel	6
Number of hotels in ownership by Company | Hotel		24
LIBOR | Interest Rate Cap
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		3.50%
LIBOR | Senior Secured Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.50%
LIBOR | Senior Secured Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	3.00%

Debt - Future Scheduled Princip

Debt - Future Scheduled Principal Payments of Debt Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
2021	$ 21,441
2022	144,549
2023	117,875
2024	309,941
2025	15,935
Thereafter	0
Total debt before unamortized debt issue costs	609,741	$ 586,860
Unamortized mortgage debt issue costs	(971)	(1,395)
Total debt outstanding	$ 608,770	$ 585,465

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal	$ (29)	$ (29)	$ 0
State	0	0	0
Current tax expense (benefit)	(29)	(29)	0
Deferred:
Federal	29	29	(28)
State	0	0	0
Deferred tax expense (benefit)	29	29	(28)
Total income tax expense (benefit)	$ 0	$ 0	$ (28)

Income Taxes - Difference Betwe

Income Taxes - Difference Between Total Income Taxes Expense and Amount Computed at Statutory Federal Income Tax Rate (Detail) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Book loss before income taxes of the TRS	$ (4,838)	$ (8,167)	$ (6,040)
Statutory rate applied to pre-tax income	(1,016)	(1,715)	(1,268)
Effect of state and local income taxes, net of federal tax benefit	(253)	(347)	(200)
Permanent adjustments	4	8	12
Change in valuation allowance	1,445	2,100	1,456
Valuation allowance release	0	0	(28)
Other	(180)	(46)	0
Total income tax expense (benefit)	$ 0	$ 0	$ (28)
Effective tax rate	0.00%	0.00%	0.46%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Line Items]
Valuation allowance	$ 7,070	$ 5,625
TRS
Income Taxes [Line Items]
NOL carryforwards, federal	24,200
NOL carryforwards, state and local	$ 30,000

Income Taxes - Tax Effect of Ea

Income Taxes - Tax Effect of Each Type of Temporary Difference and Carry Forward that Gives Rise to Deferred Tax Asset (Detail) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Gross Deferred Tax Assets:
Allowance for doubtful accounts	$ 133	$ 117
Accrued compensation	547	870
Net operating loss	6,541	4,741
AMT credit	0	29
Gross Deferred Tax Assets	7,221	5,757
Less: Valuation Allowance	(7,070)	(5,625)
Total Deferred Tax Assets Net of Valuation Allowance	151	132
Gross Deferred Tax Liabilities:
Total Book/tax difference in partnership	151	103
Gross Deferred Tax Liabilities:	$ 151	103
Net, Deferred Tax Assets:		$ 29

Dividends Declared and Paid - A

Dividends Declared and Paid - Additional Information (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Equity [Abstract]
Total regular dividends declared (in dollars per shares)	$ 0.22
Regular Long-term incentive plan (LTIP) units, distributions per unit (in dollars per share)	$ 0.22
Percentage of distribution considered capital gain	100.00%	23.00%
Percentage of distribution considered taxable income		77.00%

Dividends Declared and Paid - D

Dividends Declared and Paid - Dividend Information (Details) - $ / shares	1 Months Ended														3 Months Ended				12 Months Ended
	Feb. 28, 2020	Jan. 31, 2020	Dec. 31, 2019	Nov. 30, 2019	Oct. 31, 2019	Sep. 30, 2019	Aug. 31, 2019	Jul. 31, 2019	Jun. 30, 2019	May 31, 2019	Apr. 30, 2019	Mar. 31, 2019	Feb. 28, 2019	Jan. 31, 2019	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Equity [Abstract]
Common Share Distribution Amount (in dollars per share)	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.33	$ 0.33	$ 0.33	$ 0.33	$ 0.22	$ 1.32
LTIP Unit Distribution Amount (in dollars per share)	0.11	0.11	0.11	0.11	0.11	0.11	0.11	0.11	0.11	0.11	0.11	0.11	0.11	0.11	0.33	0.33	0.33	0.33	0.22	1.32
Ordinary Income (in dollars per share)	0	0	0.0847	0.0847	0.0847	0.0847	0.0847	0.0847	0.0847	0.0847	0.0847	0.0847	0.0847	0.0847	0.2541	0.2541	0.2541	0.2541	0	1.0164
Return Of Capital (in dollars per share)	0.1100	0.1100	$ 0.0253	$ 0.0253	$ 0.0253	$ 0.0253	$ 0.0253	$ 0.0253	$ 0.0253	$ 0.0253	$ 0.0253	$ 0.0253	$ 0.0253	$ 0.0253	$ 0.0759	$ 0.0759	$ 0.0759	$ 0.0759	0.2200	$ 0.3036
Section 199A Dividends (in dollars per share)	$ 0	$ 0																	$ 0

Shareholders' Equity (Details)

Shareholders' Equity (Details)	Dec. 28, 2017USD ($)	Dec. 31, 2020USD ($)vote$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)
Stockholders Equity Note Disclosure [Line Items]
Common shares, shares authorized (up to) (in shares)		500,000,000	500,000,000
Common shares, par value (in dollars per share) | $ / shares		$ 0.01	$ 0.01
Number of votes per common share | vote		1
Common shares, shares outstanding (in shares)		46,973,473	46,928,445
Proceeds from issuance of common shares | $		$ 182,000	$ 7,298,000	$ 24,486,000
Preferred shares, shares authorized (up to) (in shares)		100,000,000	100,000,000
Preferred shares, par value (in dollars per share) | $ / shares		$ 0.01	$ 0.01
Preferred stock, shares outstanding (in shares)		0	0
Vested operating partnership common units held by unaffiliated third parties (in shares)		654,603
Operating partnership common units held by unaffiliated third parties (in shares)		102,048
DRSP Plan
Stockholders Equity Note Disclosure [Line Items]
Stock purchase plan, authorized amount | $	$ 50,000,000
Remaining authorized repurchase amount | $		$ 50,000,000
New DRSPP
Stockholders Equity Note Disclosure [Line Items]
Additional common shares issued (in shares)		20,512
Weighted average price per share (in dollars per share) | $ / shares		$ 8.89
Proceeds from issuance of common shares | $		$ 200,000
ATM Plan
Stockholders Equity Note Disclosure [Line Items]
Common shares, shares outstanding (in shares)		0
Stock purchase plan, authorized amount | $	$ 100,000,000
Remaining authorized repurchase amount | $		$ 100,000,000

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of Amounts Used in Calculating Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Numerator:
Net income	$ (3,356)	$ (18,057)	$ (26,827)	$ (27,783)	$ (2,349)	$ 10,002	$ 9,437	$ 1,613	$ (76,023)	$ 18,703	$ 30,641
Dividends paid on unvested shares and LTIP units									(50)	(297)	(310)
Net income attributable to common shareholders									$ (76,073)	$ 18,406	$ 30,331
Denominator:
Weighted average number of common shares - basic (in shares)	46,969,483	46,965,526	46,960,289	46,948,533	46,919,035	46,913,922	46,760,016	46,556,710	46,961,039	46,788,784	46,073,515
Effect of dilutive securities:
Unvested shares (in shares)										234,496	170,145
Weighted average number of common shares - diluted (In shares)	46,969,483	46,965,526	46,960,289	46,948,533	47,220,671	47,152,166	46,976,999	46,734,958	46,961,039	47,023,280	46,243,660
Basic income per Common Share:
Net income attributable to common shareholders per weighted average common share (in dollars per share)	$ (0.07)	$ (0.38)	$ (0.57)	$ (0.59)	$ (0.05)	$ 0.21	$ 0.20	$ 0.03	$ (1.62)	$ 0.39	$ 0.66
Diluted income per Common Share:
Net income attributable to common shareholders per weighted average common share (in dollars per share)	$ (0.07)	$ (0.38)	$ (0.57)	$ (0.59)	$ (0.05)	$ 0.21	$ 0.20	$ 0.03	$ (1.62)	$ 0.39	$ 0.66

Equity Incentive Plan - Additio

Equity Incentive Plan - Additional Information (Details) $ / shares in Units, $ in Millions	Mar. 01, 2020$ / sharesshares	Jan. 15, 2020shares	Jun. 01, 2015shares	May 17, 2013shares	Jan. 31, 2020shares	Jan. 31, 2019shares	Jan. 31, 2018shares	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)shares
Independent Trustees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trustee fees | $								$ 0.1	$ 0.1	$ 0.1
Common shares issued as compensation for services performed (in shares)		40,203			24,516	27,870	21,670
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trustee fees paid in shares (up to 100%) (at least 50%) (in percentage)								50.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trustee fees paid in shares (up to 100%) (at least 50%) (in percentage)								100.00%
Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)				3,000,000
Equity Incentive Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for share awards under equity				3 years
Equity Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for share awards under equity				5 years
2010 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares available for issuance (in shares)								944,048
Number of trading days preceding the reporting date for which average of closing price of common shares is taken								10 days
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs | $								$ 0	0.1
Weighted - average period for recognition of unrecognized compensation costs								1 year
Compensation expense recognized | $								$ 0	$ 0.1	$ 0.1
Shares granted (in shares)								0	0	5,000
Long Term Incentive Plan Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted - average period for recognition of unrecognized compensation costs								1 year 9 months 18 days
Compensation expense recognized | $								$ 4.4	$ 4.2	$ 3.6
Exchange ratio								1
Shares granted (in shares)			183,300					325,507	221,853	244,917
Total unrecognized compensation cost related to LTIP Units | $								$ 4.9	$ 4.9
Long Term Incentive Plan Units | Awarded June 1, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)			183,300
2018 Time-Based LTIP Unit Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)	130,206
2018 Performance-Based LTIP Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)	195,301
Grants in period, intrinsic value, amount (in dollars per share) | $ / shares	$ 13.66
2018 Performance-Based LTIP Unit Awards | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target value to be paid out								50.00%
2018 Performance-Based LTIP Unit Awards | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target value to be paid out								150.00%

Equity Incentive Plan - Summary

Equity Incentive Plan - Summary of Restricted Share Awards (Details) - Restricted Stock - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary of company's restricted share awards
Number of Shares, Nonvested at beginning of the period (in shares)	5,001	8,334	57,514
Number of Shares, Granted (in shares)	0	0	5,000
Number of Shares, Vested (in shares)	(3,334)	(3,333)	(30,084)
Number of shares forfeited (in shares)	0	0	(24,096)
Number of Shares, Nonvested at end of the period (in shares)	1,667	5,001	8,334
Summary of company's restricted share awards, weighted average grant date fair value
Weighted - Average Grant Date Fair Value, Nonvested at beginning of the period (in dollars per share)	$ 18.33	$ 18.52	$ 23.78
Weighted - Average Grant Date Fair Value, Granted (in dollars per share)	0	0	17.40
Weighted - Average Grant Date Fair Value, Vested (in dollars per share)	18.80	18.80	26.24
Weighted - Average Grant Date Fair Value, Forfeited (in dollars per share)	0	0	21.21
Weighted - Average Grant Date Fair Value, Nonvested at end of the period (in dollars per share)	$ 17.40	$ 18.33	$ 18.52

Equity Incentive Plan - Schedul

Equity Incentive Plan - Schedule of LTIP Unit Awards (Details) - Long Term Incentive Plan Units - $ / shares	Jun. 01, 2015	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of Shares, Nonvested at beginning of the period (in shares)		598,320	476,398	482,056
Number of Shares, Granted (in shares)	183,300	325,507	221,853	244,917
Number of Shares, Vested (in shares)		(254,218)	(99,931)	(67,275)
Number of shares forfeited (in shares)		0	0	(183,300)
Number of Shares, Nonvested at end of the period (in shares)		669,609	598,320	476,398
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted - Average Grant Date Fair Value, Nonvested at beginning of the period (in dollars per share)		$ 18.30	$ 17.73	$ 16.58
Weighted - Average Grant Date Fair Value, Granted (in dollars per share)	$ 14.13	13.42	18.73	16.94
Weighted - Average Grant Date Fair Value, Vested (in dollars per share)		18.82	16.55	16.42
Weighted - Average Grant Date Fair Value, Forfeited (in dollars per share)		0	0	14.13
Weighted - Average Grant Date Fair Value, Nonvested at end of the period (in dollars per share)		$ 15.73	$ 18.30	$ 17.73

Equity Incentive Plan - Sched_2

Equity Incentive Plan - Schedule of Payout Awards (Details)	Mar. 01, 2020
Relative TSR Hurdles (Percentile)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Threshold	25.00%
Target	50.00%
Maximum	75.00%
Payout Percentage
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Threshold	50.00%
Target	100.00%
Maximum	150.00%

Equity Incentive Plan - Valuati

Equity Incentive Plan - Valuation Assumptions (Details) - $ / shares	Mar. 01, 2020	Mar. 01, 2019	Mar. 01, 2018	Mar. 01, 2017	Jan. 28, 2016	Jun. 01, 2015	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Long Term Incentive Plan Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Granted (in shares)						183,300	325,507	221,853	244,917
Estimated value per unit (in dollars per share)						$ 14.13	$ 13.42	$ 18.73	$ 16.94
Volatility						26.00%
Dividend Yield						4.50%
Risk Free Interest Rate						0.95%
Long Term Incentive Plan Units, Time-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Granted (in shares)	130,206	88,746	97,968	89,574	72,966
Estimated value per unit (in dollars per share)	$ 13.05	$ 18.45	$ 16.83	$ 18.53	$ 16.69
Volatility	20.00%	21.00%	26.00%	24.00%	28.00%
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Risk Free Interest Rate	1.06%	2.57%	2.07%	0.92%	0.79%
Long Term Incentive Plan Units, Performance-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Granted (in shares)	195,301	133,107	146,949	134,348	39,285
Estimated value per unit (in dollars per share)	$ 13.66	$ 18.91	$ 17.02	$ 19.65	$ 11.09
Volatility	20.00%	21.00%	26.00%	25.00%	30.00%
Dividend Yield	8.10%	6.20%	6.20%	5.80%	5.80%
Risk Free Interest Rate	0.90%	2.55%	2.37%	1.47%	1.13%

Leases - Narrative (Details)

Leases - Narrative (Details)	1 Months Ended	12 Months Ended
	Sep. 30, 2015Term	Dec. 31, 2020USD ($)ParkingSpaceTerm
Operating Leased Assets [Line Items]
Maximum additional terms up to which ground lease can be extended (up to) | Term		12
Periods in each additional renewal term		5 years
Approximate rent when monthly occupancy is less than 85%		$ 8,400
Percentage of occupancy under condition one (less than)		85.00%
Approximate rent when monthly occupancy is 100%		$ 20,000
Percentage of occupancy under condition two		100.00%
Minimum percentage of annual rent increase		2.50%
Other Leases | Residence Inn San Diego Gaslamp
Operating Leased Assets [Line Items]
Maximum additional terms up to which ground lease can be extended (up to) | Term		3
Periods in each additional renewal term		10 years
Operating leases, monthly payment		$ 44,400
Operating lease, periodic increase, (in percentage)		10.00%
Operating lease, periodic increase, term		5 years
Annual supplemental rent, percentage of gross revenues		5.00%
Annual supplemental rent subtraction, base rent multiplier		12
Other Leases | Hilton Garden Inn Marina del Rey
Operating Leased Assets [Line Items]
Operating leases, monthly payment		$ 47,500
Air Rights Lease And Garage Lease
Operating Leased Assets [Line Items]
Number of parking spaces occupied by hotel | ParkingSpace		128
Aggregate rent under operating leases		$ 31,000
Office Lease
Operating Leased Assets [Line Items]
Maximum additional terms up to which ground lease can be extended (up to) | Term	2
Periods in each additional renewal term	5 years
Term of contract	11 years
Abatement term of contract	12 months
Fixed lease payments		800,000
Hotel Ground Lease
Operating Leased Assets [Line Items]
Fixed lease payments		1,200,000
Variable lease payments		$ 33,000
Minimum | Other Leases | Hilton Garden Inn Marina del Rey
Operating Leased Assets [Line Items]
Annual supplemental rent, percentage of gross revenues		5.00%
Maximum | Other Leases | Hilton Garden Inn Marina del Rey
Operating Leased Assets [Line Items]
Annual supplemental rent, percentage of gross revenues		25.00%

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
2021	$ 2,051
2022	2,071
2023	2,093
2024	2,115
2025	2,186
Thereafter	66,720
Total lease payments	77,236
Less: Imputed interest	(54,003)
Present value of lease liabilities	$ 23,233	$ 23,717

Leases - Schedule of Lessee Ope

Leases - Schedule of Lessee Operating Lease Liability Maturity, Ground, Air Rights, Garage and Office Leases (Details) $ in Thousands	Dec. 31, 2019USD ($)
Leases [Abstract]
2020	$ 2,027
2021	2,051
2022	2,071
2023	2,093
2024	2,115
Thereafter	68,906
Total lease payments	79,263
Less: Imputed interest	(55,546)
Present value of lease liabilities	$ 23,717

Leases - Schedule of Right of U

Leases - Schedule of Right of Use Asset and Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Right of Use Asset
Beginning balance	$ 21,270
Amortization	(629)	$ (613)
Ending balance	20,641	21,270
Lease Liability
Beginning balance	23,717
Disposal	(484)	(391)
Ending balance	$ 23,233	$ 23,717

Leases - Lease Cost (Details)

Leases - Lease Cost (Details)	Dec. 31, 2020
Leases [Abstract]
Weighted-average remaining lease term (years)	40 years 7 months 13 days
Weighted-average discount rate	6.57%

Commitment and Contingencies -

Commitment and Contingencies - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)renewal_period	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Capital Leased Assets [Line Items]
Management fees recorded within hotel other operating expenses	$ 5.3	$ 10.8	$ 10.8
Franchise and marketing fees	11.6	25.9	24.9
Island Hospitality Management Inc.
Capital Leased Assets [Line Items]
Management fees recorded within hotel other operating expenses	$ 0	$ 0.1	$ 0.1
Hotel Management Agreement | Island Hospitality Management Inc.
Capital Leased Assets [Line Items]
Initial terms of management agreements	5 years
Number of renewal periods | renewal_period	2
Renewal periods of management agreements	5 years
Agreement renewal successive period termination notice (no later than)	90 days
Minimum notice period for termination of management agreement	6 months
Property management fee (in percentage)	10.00%
Incentive Management Fee Cap	1.00%
Accounts Payable and Accrued Liabilities | Ruffy, et al, v. Island Hospitality Management, LLC, et al.
Capital Leased Assets [Line Items]
Estimate of possible loss	$ 0.1
Accounts Payable and Accrued Liabilities | Perez et al. v. Island Hospitality Management III LLC et al.
Capital Leased Assets [Line Items]
Estimate of possible loss	$ 0.6

Commitment and Contingencies _2

Commitment and Contingencies - Terms of Management Agreements (Details)	12 Months Ended
	Dec. 31, 2020USD ($)
Homewood Suites by Hilton Boston-Billerica/ Bedford/ Burlington
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Homewood Suites by Hilton Minneapolis-Mall of America
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Homewood Suites by Hilton Nashville-Brentwood
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Homewood Suites by Hilton Dallas-Market Center
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Homewood Suites by Hilton Hartford-Farmington
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Homewood Suites by Hilton Orlando-Maitland
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Hampton Inn & Suites Houston-Medical Center
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,000
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Residence Inn Long Island Holtsville
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,000
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Residence Inn White Plains
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,000
Monthly Revenue Management Fee	$ 750
Incentive Management Fee Cap	1.00%
Residence Inn New Rochelle
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,000
Monthly Revenue Management Fee	$ 750
Incentive Management Fee Cap	1.00%
Residence Inn Garden Grove
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Homewood Suites by Hilton San Antonio River Walk
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Residence Inn Washington DC
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Residence Inn Tysons Corner
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Hampton Inn Portland Downtown
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,000
Monthly Revenue Management Fee	$ 550
Incentive Management Fee Cap	1.00%
Courtyard Houston
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,000
Monthly Revenue Management Fee	$ 550
Incentive Management Fee Cap	1.00%
Hyatt Place Pittsburgh North Shore
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Hampton Inn Exeter
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Hilton Garden Inn Denver Tech
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Residence Inn Bellevue
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Springhill Suites Savannah
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Residence Inn Silicon Valley I
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Residence Inn Silicon Valley II
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Residence Inn San Mateo
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Residence Inn Mountain View
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Hyatt Place Cherry Creek
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Courtyard Addison
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Courtyard West University Houston
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Residence Inn West University Houston
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Hilton Garden Inn Burlington
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Residence Inn San Diego Gaslamp
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Hilton Garden Inn Marina del Rey
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Residence Inn Dedham
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,200
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Residence Inn II Lugano
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Hilton Garden Inn Portsmouth
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Courtyard Summerville
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Embassy Suites Springfield
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Residence Inn Summerville, SC
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%
Courtyard Dallas
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	$ 1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee Cap	1.00%

Commitment and Contingencies _3

Commitment and Contingencies - Terms of Franchise Agreements (Details)	12 Months Ended
	Dec. 31, 2020
Homewood Suites by Hilton Boston-Billerica/ Bedford/ Burlington
Real Estate Properties [Line Items]
Franchise/Royalty Fee	4.00%
Marketing/Program Fee	4.00%
Homewood Suites by Hilton Minneapolis-Mall of America
Real Estate Properties [Line Items]
Franchise/Royalty Fee	4.00%
Marketing/Program Fee	4.00%
Homewood Suites by Hilton Nashville-Brentwood
Real Estate Properties [Line Items]
Franchise/Royalty Fee	4.00%
Marketing/Program Fee	4.00%
Homewood Suites by Hilton Dallas-Market Center
Real Estate Properties [Line Items]
Franchise/Royalty Fee	4.00%
Marketing/Program Fee	4.00%
Homewood Suites by Hilton Hartford-Farmington
Real Estate Properties [Line Items]
Franchise/Royalty Fee	4.00%
Marketing/Program Fee	4.00%
Homewood Suites by Hilton Orlando-Maitland
Real Estate Properties [Line Items]
Franchise/Royalty Fee	4.00%
Marketing/Program Fee	4.00%
Hampton Inn & Suites Houston-Medical Center
Real Estate Properties [Line Items]
Franchise/Royalty Fee	6.00%
Marketing/Program Fee	4.00%
Residence Inn Long Island Holtsville
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2.50%
Residence Inn White Plains
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2.50%
Residence Inn New Rochelle
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2.50%
Residence Inn Garden Grove
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.00%
Marketing/Program Fee	2.50%
Homewood Suites by Hilton San Antonio River Walk
Real Estate Properties [Line Items]
Franchise/Royalty Fee	4.00%
Marketing/Program Fee	4.00%
Residence Inn Washington DC
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2.50%
Residence Inn Tysons Corner
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.00%
Marketing/Program Fee	2.50%
Hampton Inn Portland Downtown
Real Estate Properties [Line Items]
Franchise/Royalty Fee	6.00%
Marketing/Program Fee	4.00%
Courtyard Houston
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2.00%
Hyatt Place Pittsburgh North Shore
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.00%
Marketing/Program Fee	3.50%
Hampton Inn Exeter
Real Estate Properties [Line Items]
Franchise/Royalty Fee	6.00%
Marketing/Program Fee	4.00%
Hilton Garden Inn Denver Tech
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	4.30%
Residence Inn Bellevue
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2.50%
Springhill Suites Savannah
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.00%
Marketing/Program Fee	2.50%
Residence Inn Silicon Valley I
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2.50%
Residence Inn Silicon Valley II
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2.50%
Residence Inn San Mateo
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2.50%
Residence Inn Mountain View
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2.50%
Hyatt Place Cherry Creek
Real Estate Properties [Line Items]
Marketing/Program Fee	3.50%
Hyatt Place Cherry Creek | Minimum
Real Estate Properties [Line Items]
Franchise/Royalty Fee	3.00%
Hyatt Place Cherry Creek | Maximum
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.00%
Courtyard Addison
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2.00%
Courtyard West University Houston
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	2.00%
Residence Inn West University Houston
Real Estate Properties [Line Items]
Franchise/Royalty Fee	6.00%
Marketing/Program Fee	2.50%
Hilton Garden Inn Burlington
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	4.30%
Residence Inn San Diego Gaslamp
Real Estate Properties [Line Items]
Franchise/Royalty Fee	6.00%
Marketing/Program Fee	2.50%
Hilton Garden Inn Marina del Rey
Real Estate Properties [Line Items]
Marketing/Program Fee	4.30%
Hilton Garden Inn Marina del Rey | Minimum
Real Estate Properties [Line Items]
Franchise/Royalty Fee	3.00%
Hilton Garden Inn Marina del Rey | Maximum
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Residence Inn Dedham
Real Estate Properties [Line Items]
Franchise/Royalty Fee	6.00%
Marketing/Program Fee	2.50%
Residence Inn II Lugano
Real Estate Properties [Line Items]
Marketing/Program Fee	2.50%
Residence Inn II Lugano | Minimum
Real Estate Properties [Line Items]
Franchise/Royalty Fee	3.00%
Residence Inn II Lugano | Maximum
Real Estate Properties [Line Items]
Franchise/Royalty Fee	6.00%
Hilton Garden Inn Portsmouth
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	4.00%
Courtyard Summerville
Real Estate Properties [Line Items]
Franchise/Royalty Fee	6.00%
Marketing/Program Fee	2.50%
Embassy Suites Springfield
Real Estate Properties [Line Items]
Franchise/Royalty Fee	5.50%
Marketing/Program Fee	4.00%
Residence Inn Summerville, SC
Real Estate Properties [Line Items]
Franchise/Royalty Fee	6.00%
Marketing/Program Fee	2.50%
Courtyard Dallas
Real Estate Properties [Line Items]
Marketing/Program Fee	2.00%
Courtyard Dallas | Minimum
Real Estate Properties [Line Items]
Franchise/Royalty Fee	4.00%
Courtyard Dallas | Maximum
Real Estate Properties [Line Items]
Franchise/Royalty Fee	6.00%

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)Hotel	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Nov. 07, 2019Hotel	Mar. 01, 2019	Feb. 28, 2019
Related Party Transaction [Line Items]
Number of hotels in ownership by Company | Hotel	39
Management and accounting fees paid by the company	$ 5.3	$ 10.8	$ 10.8
Amounts due to related party	0.3	0.7
Management fees recorded within hotel other operating expenses	5.3	10.8	10.8
Island Hospitality Management Inc.
Related Party Transaction [Line Items]
Ownership percentage in related party owned by the company's chairman					1.50%	51.00%
Management fees recorded within hotel other operating expenses	$ 0	0.1	0.1
NewINK Joint Venture
Related Party Transaction [Line Items]
Number of hotels in ownership by Company | Hotel	46			46
Island Hospitality Management Inc.
Related Party Transaction [Line Items]
Ownership percentage in related party owned by the company's chairman	52.50%
Management fees recorded within hotel other operating expenses	$ 0	0.1	$ 0.1
CLNY
Related Party Transaction [Line Items]
Ownership percentage in related party owned by third party	97.50%
Mr. Fisher
Related Party Transaction [Line Items]
Ownership percentage in related party owned by the company's chairman	2.50%
Castleblack
Related Party Transaction [Line Items]
Management and accounting fees paid by the company	$ 0.1	$ 0.1

Quarterly Operating Results (_3

Quarterly Operating Results (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Total revenue	$ 29,565	$ 34,969	$ 20,173	$ 60,209	$ 74,695	$ 90,080	$ 87,874	$ 75,679	$ 144,916	$ 328,328	$ 324,230
Total operating expenses	24,667	45,214	38,793	77,895	67,234	70,182	71,741	65,786
Operating income	4,898	(10,245)	(18,620)	(17,686)	7,461	19,898	16,133	9,893	(41,653)	53,385	58,134
Net income attributable to common shareholders	$ (3,356)	$ (18,057)	$ (26,827)	$ (27,783)	$ (2,349)	$ 10,002	$ 9,437	$ 1,613	$ (76,023)	$ 18,703	$ 30,641
Income per common share, basic (in dollars per share)	$ (0.07)	$ (0.38)	$ (0.57)	$ (0.59)	$ (0.05)	$ 0.21	$ 0.20	$ 0.03	$ (1.62)	$ 0.39	$ 0.66
Income per common share, diluted (in dollars per share)	$ (0.07)	$ (0.38)	$ (0.57)	$ (0.59)	$ (0.05)	$ 0.21	$ 0.20	$ 0.03	$ (1.62)	$ 0.39	$ 0.66
Weighted average number of common shares outstanding:
Basic (in shares)	46,969,483	46,965,526	46,960,289	46,948,533	46,919,035	46,913,922	46,760,016	46,556,710	46,961,039	46,788,784	46,073,515
Diluted (in shares)	46,969,483	46,965,526	46,960,289	46,948,533	47,220,671	47,152,166	46,976,999	46,734,958	46,961,039	47,023,280	46,243,660

SCHEDULE III - REAL ESTATE AN_2

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land	$ 293,127
Initial Cost, Buildings & Improvements	1,077,447
Cost Cap. Sub. To Acq. Land	521
Cost Cap. Sub. To Acq. Bldg & Improvements	117,735
Gross Amount at End of Year, Land	293,648
Gross Amount at End of Year, Buildings & Improvements	1,195,182
Gross Amount at End of Year, Total	1,488,830	$ 1,520,189	$ 1,510,864	$ 1,431,374	$ 1,320,273	$ 1,306,192	$ 1,105,504
Accumulated Depreciation	257,344	$ 224,339	$ 187,780	$ 148,071	$ 116,866	$ 83,245	$ 50,910
Homewood Suites Orlando - Maitland, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	1,800
Initial Cost, Buildings & Improvements	7,200
Cost Cap. Sub. To Acq. Land	34
Cost Cap. Sub. To Acq. Bldg & Improvements	5,185
Gross Amount at End of Year, Land	1,834
Gross Amount at End of Year, Buildings & Improvements	12,385
Gross Amount at End of Year, Total	14,219
Accumulated Depreciation	4,135
Homewood Suites Boston - Billerica, MA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	15,693
Initial Cost, Land	1,470
Initial Cost, Buildings & Improvements	10,555
Cost Cap. Sub. To Acq. Land	48
Cost Cap. Sub. To Acq. Bldg & Improvements	3,848
Gross Amount at End of Year, Land	1,518
Gross Amount at End of Year, Buildings & Improvements	14,403
Gross Amount at End of Year, Total	15,921
Accumulated Depreciation	3,990
Homewood Suites Minneapolis - Mall of America, Bloomington, MN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	3,500
Initial Cost, Buildings & Improvements	13,960
Cost Cap. Sub. To Acq. Land	19
Cost Cap. Sub. To Acq. Bldg & Improvements	4,101
Gross Amount at End of Year, Land	3,519
Gross Amount at End of Year, Buildings & Improvements	18,061
Gross Amount at End of Year, Total	21,580
Accumulated Depreciation	5,414
Homewood Suites Nashville - Brentwood, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	1,525
Initial Cost, Buildings & Improvements	9,300
Cost Cap. Sub. To Acq. Land	12
Cost Cap. Sub. To Acq. Bldg & Improvements	3,683
Gross Amount at End of Year, Land	1,537
Gross Amount at End of Year, Buildings & Improvements	12,983
Gross Amount at End of Year, Total	14,520
Accumulated Depreciation	3,929
Homewood Suites Dallas - Market Center, Dallas, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	2,500
Initial Cost, Buildings & Improvements	7,583
Cost Cap. Sub. To Acq. Land	30
Cost Cap. Sub. To Acq. Bldg & Improvements	4,230
Gross Amount at End of Year, Land	2,530
Gross Amount at End of Year, Buildings & Improvements	11,813
Gross Amount at End of Year, Total	14,343
Accumulated Depreciation	3,402
Homewood Suites Hartford - Farmington, CT
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	1,325
Initial Cost, Buildings & Improvements	9,375
Cost Cap. Sub. To Acq. Land	92
Cost Cap. Sub. To Acq. Bldg & Improvements	3,556
Gross Amount at End of Year, Land	1,417
Gross Amount at End of Year, Buildings & Improvements	12,931
Gross Amount at End of Year, Total	14,348
Accumulated Depreciation	3,556
Hampton Inn & Suites Houston - Houston, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	17,717
Initial Cost, Land	3,200
Initial Cost, Buildings & Improvements	12,709
Cost Cap. Sub. To Acq. Land	60
Cost Cap. Sub. To Acq. Bldg & Improvements	3,089
Gross Amount at End of Year, Land	3,260
Gross Amount at End of Year, Buildings & Improvements	15,798
Gross Amount at End of Year, Total	19,058
Accumulated Depreciation	3,913
Residence Inn Holtsville - Holtsville, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	2,200
Initial Cost, Buildings & Improvements	18,765
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	1,244
Gross Amount at End of Year, Land	2,200
Gross Amount at End of Year, Buildings & Improvements	20,009
Gross Amount at End of Year, Total	22,209
Accumulated Depreciation	5,563
Residence Inn White Plains - White Plains, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	2,200
Initial Cost, Buildings & Improvements	17,677
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	9,362
Gross Amount at End of Year, Land	2,200
Gross Amount at End of Year, Buildings & Improvements	27,039
Gross Amount at End of Year, Total	29,239
Accumulated Depreciation	7,720
Residence Inn New Rochelle - New Rochelle, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	12,936
Initial Cost, Land	0
Initial Cost, Buildings & Improvements	20,281
Cost Cap. Sub. To Acq. Land	9
Cost Cap. Sub. To Acq. Bldg & Improvements	6,642
Gross Amount at End of Year, Land	9
Gross Amount at End of Year, Buildings & Improvements	26,923
Gross Amount at End of Year, Total	26,932
Accumulated Depreciation	6,777
Residence Inn Garden Grove - Garden Grove, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	32,053
Initial Cost, Land	7,109
Initial Cost, Buildings & Improvements	35,484
Cost Cap. Sub. To Acq. Land	57
Cost Cap. Sub. To Acq. Bldg & Improvements	3,568
Gross Amount at End of Year, Land	7,166
Gross Amount at End of Year, Buildings & Improvements	39,052
Gross Amount at End of Year, Total	46,218
Accumulated Depreciation	9,564
Homewood Suites San Antonio - San Antonio, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	15,563
Initial Cost, Land	5,999
Initial Cost, Buildings & Improvements	24,764
Cost Cap. Sub. To Acq. Land	7
Cost Cap. Sub. To Acq. Bldg & Improvements	5,488
Gross Amount at End of Year, Land	6,006
Gross Amount at End of Year, Buildings & Improvements	30,252
Gross Amount at End of Year, Total	36,258
Accumulated Depreciation	7,948
Residence Inn Washington DC - Washington, DC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	6,083
Initial Cost, Buildings & Improvements	22,063
Cost Cap. Sub. To Acq. Land	28
Cost Cap. Sub. To Acq. Bldg & Improvements	6,145
Gross Amount at End of Year, Land	6,111
Gross Amount at End of Year, Buildings & Improvements	28,208
Gross Amount at End of Year, Total	34,319
Accumulated Depreciation	7,868
Residence Inn Tyson's Corner - Vienna, VA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	21,291
Initial Cost, Land	5,752
Initial Cost, Buildings & Improvements	28,917
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	2,630
Gross Amount at End of Year, Land	5,752
Gross Amount at End of Year, Buildings & Improvements	31,547
Gross Amount at End of Year, Total	37,299
Accumulated Depreciation	7,281
Hampton Inn Portland Downtown - Portland, ME
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	4,315
Initial Cost, Buildings & Improvements	22,664
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	363
Gross Amount at End of Year, Land	4,315
Gross Amount at End of Year, Buildings & Improvements	23,027
Gross Amount at End of Year, Total	27,342
Accumulated Depreciation	4,641
Courtyard Houston - Houston, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	17,559
Initial Cost, Land	5,600
Initial Cost, Buildings & Improvements	27,350
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	2,802
Gross Amount at End of Year, Land	5,600
Gross Amount at End of Year, Buildings & Improvements	30,152
Gross Amount at End of Year, Total	35,752
Accumulated Depreciation	6,043
Hyatt Place Pittsburgh - Pittsburgh, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	21,520
Initial Cost, Land	3,000
Initial Cost, Buildings & Improvements	35,576
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	1,442
Gross Amount at End of Year, Land	3,000
Gross Amount at End of Year, Buildings & Improvements	37,018
Gross Amount at End of Year, Total	40,018
Accumulated Depreciation	7,035
Hampton Inn & Suites Exeter - Exeter, NH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	1,900
Initial Cost, Buildings & Improvements	12,350
Cost Cap. Sub. To Acq. Land	4
Cost Cap. Sub. To Acq. Bldg & Improvements	164
Gross Amount at End of Year, Land	1,904
Gross Amount at End of Year, Buildings & Improvements	12,514
Gross Amount at End of Year, Total	14,418
Accumulated Depreciation	2,345
Hilton Garden Inn Denver Tech - Denver, CO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	4,100
Initial Cost, Buildings & Improvements	23,100
Cost Cap. Sub. To Acq. Land	5
Cost Cap. Sub. To Acq. Bldg & Improvements	670
Gross Amount at End of Year, Land	4,105
Gross Amount at End of Year, Buildings & Improvements	23,770
Gross Amount at End of Year, Total	27,875
Accumulated Depreciation	4,539
Residence Inn Bellevue - Bellevue, WA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	43,857
Initial Cost, Land	13,800
Initial Cost, Buildings & Improvements	56,957
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	2,351
Gross Amount at End of Year, Land	13,800
Gross Amount at End of Year, Buildings & Improvements	59,308
Gross Amount at End of Year, Total	73,108
Accumulated Depreciation	11,022
SpringHill Suites Savannah - Savannah, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	29,817
Initial Cost, Land	2,400
Initial Cost, Buildings & Improvements	36,050
Cost Cap. Sub. To Acq. Land	1
Cost Cap. Sub. To Acq. Bldg & Improvements	1,605
Gross Amount at End of Year, Land	2,401
Gross Amount at End of Year, Buildings & Improvements	37,655
Gross Amount at End of Year, Total	40,056
Accumulated Depreciation	7,026
Residence Inn Silicon Valley I - Sunnyvale, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	64,406
Initial Cost, Land	42,652
Initial Cost, Buildings & Improvements	45,846
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	5,914
Gross Amount at End of Year, Land	42,652
Gross Amount at End of Year, Buildings & Improvements	51,760
Gross Amount at End of Year, Total	94,412
Accumulated Depreciation	20,944
Residence Inn Silicon Valley II - Sunnyvale, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	70,270
Initial Cost, Land	46,474
Initial Cost, Buildings & Improvements	50,380
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	7,223
Gross Amount at End of Year, Land	46,474
Gross Amount at End of Year, Buildings & Improvements	57,603
Gross Amount at End of Year, Total	104,077
Accumulated Depreciation	22,865
Residence Inn San Mateo - San Mateo, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	48,305
Initial Cost, Land	38,420
Initial Cost, Buildings & Improvements	31,352
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	5,393
Gross Amount at End of Year, Land	38,420
Gross Amount at End of Year, Buildings & Improvements	36,745
Gross Amount at End of Year, Total	75,165
Accumulated Depreciation	14,274
Residence Inn Mt. View - Mountain View, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	37,670
Initial Cost, Land	22,019
Initial Cost, Buildings & Improvements	31,813
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	10,186
Gross Amount at End of Year, Land	22,019
Gross Amount at End of Year, Buildings & Improvements	41,999
Gross Amount at End of Year, Total	64,018
Accumulated Depreciation	16,600
Hyatt Place Cherry Creek - Cherry Creek, CO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	3,700
Initial Cost, Buildings & Improvements	26,300
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	1,844
Gross Amount at End of Year, Land	3,700
Gross Amount at End of Year, Buildings & Improvements	28,144
Gross Amount at End of Year, Total	31,844
Accumulated Depreciation	4,654
Courtyard Addison - Dallas, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	2,413
Initial Cost, Buildings & Improvements	21,554
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	2,566
Gross Amount at End of Year, Land	2,413
Gross Amount at End of Year, Buildings & Improvements	24,120
Gross Amount at End of Year, Total	26,533
Accumulated Depreciation	4,053
Courtyard West University - Houston, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	2,012
Initial Cost, Buildings & Improvements	17,916
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	1,437
Gross Amount at End of Year, Land	2,012
Gross Amount at End of Year, Buildings & Improvements	19,353
Gross Amount at End of Year, Total	21,365
Accumulated Depreciation	2,978
Residence Inn West University - Houston, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	3,640
Initial Cost, Buildings & Improvements	25,631
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	1,551
Gross Amount at End of Year, Land	3,640
Gross Amount at End of Year, Buildings & Improvements	27,182
Gross Amount at End of Year, Total	30,822
Accumulated Depreciation	4,503
Hilton Garden Inn Burlington - Burlington, MA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	4,918
Initial Cost, Buildings & Improvements	27,193
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	1,524
Gross Amount at End of Year, Land	4,918
Gross Amount at End of Year, Buildings & Improvements	28,717
Gross Amount at End of Year, Total	33,635
Accumulated Depreciation	4,860
Residence Inn Gaslamp - San Diego, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	0
Initial Cost, Buildings & Improvements	89,040
Cost Cap. Sub. To Acq. Land	10
Cost Cap. Sub. To Acq. Bldg & Improvements	2,079
Gross Amount at End of Year, Land	10
Gross Amount at End of Year, Buildings & Improvements	91,119
Gross Amount at End of Year, Total	91,129
Accumulated Depreciation	13,580
Hilton Garden Inn Marina del Rey, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	20,931
Initial Cost, Land	0
Initial Cost, Buildings & Improvements	43,210
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	656
Gross Amount at End of Year, Land	0
Gross Amount at End of Year, Buildings & Improvements	43,866
Gross Amount at End of Year, Total	43,866
Accumulated Depreciation	5,934
Residence Inn Dedham, MA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	4,230
Initial Cost, Buildings & Improvements	17,304
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	1,935
Gross Amount at End of Year, Land	4,230
Gross Amount at End of Year, Buildings & Improvements	19,239
Gross Amount at End of Year, Total	23,469
Accumulated Depreciation	2,614
Residence Inn Ft. Lauderdale, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	9,200
Initial Cost, Buildings & Improvements	24,048
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	1,887
Gross Amount at End of Year, Land	9,200
Gross Amount at End of Year, Buildings & Improvements	25,935
Gross Amount at End of Year, Total	35,135
Accumulated Depreciation	3,501
Warner Center
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	6,500
Initial Cost, Buildings & Improvements	0
Cost Cap. Sub. To Acq. Land	99
Cost Cap. Sub. To Acq. Bldg & Improvements	0
Gross Amount at End of Year, Land	6,599
Gross Amount at End of Year, Buildings & Improvements	0
Gross Amount at End of Year, Total	6,599
Accumulated Depreciation	0
Hilton Garden Inn Portsmouth, NH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	3,600
Initial Cost, Buildings & Improvements	37,630
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	520
Gross Amount at End of Year, Land	3,600
Gross Amount at End of Year, Buildings & Improvements	38,150
Gross Amount at End of Year, Total	41,750
Accumulated Depreciation	3,133
Courtyard Summerville, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	2,500
Initial Cost, Buildings & Improvements	16,923
Cost Cap. Sub. To Acq. Land	6
Cost Cap. Sub. To Acq. Bldg & Improvements	136
Gross Amount at End of Year, Land	2,506
Gross Amount at End of Year, Buildings & Improvements	17,059
Gross Amount at End of Year, Total	19,565
Accumulated Depreciation	1,337
Embassy Suites Springfield, VA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	7,700
Initial Cost, Buildings & Improvements	58,807
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	350
Gross Amount at End of Year, Land	7,700
Gross Amount at End of Year, Buildings & Improvements	59,157
Gross Amount at End of Year, Total	66,857
Accumulated Depreciation	4,544
Residence Inn - Summerville, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	2,300
Initial Cost, Buildings & Improvements	17,060
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	246
Gross Amount at End of Year, Land	2,300
Gross Amount at End of Year, Buildings & Improvements	17,306
Gross Amount at End of Year, Total	19,606
Accumulated Depreciation	1,033
Courtyard Dallas Downtown - Dallas, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	2,900
Initial Cost, Buildings & Improvements	42,760
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	120
Gross Amount at End of Year, Land	2,900
Gross Amount at End of Year, Buildings & Improvements	42,880
Gross Amount at End of Year, Total	45,780
Accumulated Depreciation	2,226
Sili III
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land	8,171
Initial Cost, Buildings & Improvements	0
Cost Cap. Sub. To Acq. Land	0
Cost Cap. Sub. To Acq. Bldg & Improvements	0
Gross Amount at End of Year, Land	0
Gross Amount at End of Year, Buildings & Improvements	8,171
Gross Amount at End of Year, Total	0
Accumulated Depreciation	$ 0

SCHEDULE III - REAL ESTATE AN_3

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Depreciable Lives (Details)	12 Months Ended
	Dec. 31, 2020
Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Depreciation Life	40 years
Land Improvements
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Depreciation Life	20 years
Minimum | Building Improvements
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Depreciation Life	5 years
Maximum | Building Improvements
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Depreciation Life	20 years

SCHEDULE III - REAL ESTATE AN_4

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Change in Total Cost of Real Estate Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at the beginning of the year	$ 1,520,189	$ 1,510,864	$ 1,431,374	$ 1,320,273	$ 1,306,192	$ 1,105,504
Acquisitions	0	8,171	65,020	133,660	0	187,032
Dispositions during the year	(52,770)	(17,889)	0	(33,053)	0	0
Capital expenditures and transfers from construction-in-progress	21,411	19,043	14,470	10,494	14,081	13,656
Investment in Real Estate	$ 1,488,830	$ 1,520,189	$ 1,510,864	$ 1,431,374	$ 1,320,273	$ 1,306,192

SCHEDULE III - REAL ESTATE AN_5

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Change in Accumulated Depreciation and Amortization of Real Estate Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at the beginning of the year	$ 224,339	$ 187,780	$ 148,071	$ 116,866	$ 83,245	$ 50,910
Depreciation and amortization	42,145	41,908	39,709	36,401	33,621	32,335
Dispositions during the year	(9,140)	(5,349)	0	(5,196)	0	0
Balance at the end of the year	$ 257,344	$ 224,339	$ 187,780	$ 148,071	$ 116,866	$ 83,245

SCHEDULE III - REAL ESTATE AN_6

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Aggregate Cost of Properties for Federal Income Tax Purposes - Additional Information (Details)	Dec. 31, 2020USD ($)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Aggregate cost of properties for federal income tax purposes	$ 1,488,736