RLJ Lodging Trust (RLJ) 10-Q 7 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Nov. 01, 2018
Document and Entity Information
Entity Registrant Name	RLJ Lodging Trust
Entity Central Index Key	1,511,337
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		175,307,476
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Assets
Investment in hotel properties, net	$ 5,373,171	$ 5,791,925
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	22,472	23,885
Cash and cash equivalents	425,384	586,470
Restricted cash reserves	78,113	72,606
Hotel and other receivables, net of allowance of $610 and $510, respectively	76,914	60,011
Deferred income tax asset, net	52,415	56,761
Intangible Assets, Net (Excluding Goodwill)	53,633	133,211
Prepaid expense and other assets	77,154	69,936
Disposal Group, Including Discontinued Operation, Assets, Current	25,449	0
Total assets	6,184,705	6,794,805
Liabilities and Equity
Debt, net	2,290,164	2,880,488
Accounts payable and other liabilities	203,982	225,664
Deferred income tax liability	5,547	5,547
Advance deposits and deferred revenue	29,506	30,463
Accrued interest	14,296	17,081
Distributions payable	65,746	65,284
Total liabilities	2,609,241	3,224,527
Commitments and Contingencies (Note 12)
Shareholders’ equity:
Preferred shares of beneficial interest, $0.01 par value, 50,000,000 shares authorized	366,936	366,936
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 175,215,202 and 174,869,046 shares issued and outstanding at September 30, 2018 and December 31, 2017, respectively	1,752	1,749
Additional paid-in capital	3,215,208	3,208,002
Accumulated other comprehensive income	38,315	8,846
Retained Earnings	(113,841)	(82,566)
Total shareholders’ equity	3,508,370	3,502,967
Noncontrolling interest:
Noncontrolling interest in consolidated joint ventures	11,640	11,700
Noncontrolling interest in the Operating Partnership	11,024	11,181
Total noncontrolling interest	22,664	22,881
Limited Liability Company (LLC) Preferred Unit, Issuance Value	44,430	44,430
Total equity	3,575,464	3,570,278
Total liabilities and equity	$ 6,184,705	$ 6,794,805

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Hotel and other receivables, allowance	$ 610	$ 510
Preferred shares of beneficial interest, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred shares of beneficial interest, shares authorized	50,000,000	50,000,000
Preferred shares of beneficial interest, shares issued	0	0
Preferred shares of beneficial interest, shares outstanding	0	0
Preferred Stock, Liquidation Preference, Value	$ 328,266	$ 328,266
Common shares of beneficial interest, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares of beneficial interest, shares authorized	450,000,000	450,000,000
Common shares of beneficial interest, shares issued	175,215,202	174,869,046
Common shares of beneficial interest, shares outstanding	175,215,202	174,869,046
Limited Liability Company (LLC) Preferred Unit, Liquidation Value	$ 45,515	$ 45,430
Series A Cumulative Preferred Stock [Member]
Preferred shares of beneficial interest, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred shares of beneficial interest, shares authorized	12,950,000	12,950,000
Preferred shares of beneficial interest, shares issued	12,879,475	12,879,475
Preferred shares of beneficial interest, shares outstanding	12,879,475	12,879,475

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues
Total revenues	$ 447,042	$ 341,255	$ 1,361,327	$ 893,771
Expenses
Management and franchise fee expense	34,838	29,571	107,766	86,110
Depreciation and amortization	60,373	45,231	183,429	122,136
Impairment of Real Estate	0	0	0	0
Property tax, insurance and other	34,382	23,618	104,418	60,929
General and administrative	11,622	9,506	38,059	28,757
Transaction costs	261	32,607	2,181	36,923
Total operating expenses	380,063	315,094	1,157,217	772,836
Income (Loss) from Equity Method Investments	219	57	637	57
Income tax expense	(4,156)	(6,375)	(7,852)	(9,362)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	78,813	10,486	170,795	77,715
Income before equity in income from unconsolidated joint ventures	78,594	10,429	170,158	77,658
Other Nonoperating Income (Expense)	856	110	2,514	323
Gain (loss) on sale of hotel properties, net	35,895	(19)	32,957	(49)
Gain (Loss) on Extinguishment of Debt	(1,656)	0	6,010	0
Gain (Loss) on Investments	0	2,670	0	2,670
Interest expense	(24,629)	(19,650)	(78,772)	(48,527)
Net income	74,657	4,111	162,943	68,353
Interest income	1,149	1,157	3,339	2,306
Operating income	66,979	26,161	204,110	120,935
Preferred Stock Dividends and Other Adjustments	(374)	(122)	(1,109)	(122)
Preferred Stock Dividends, Income Statement Impact	(6,279)	(2,093)	(18,836)	(2,093)
Net Income (Loss) Attributable to Parent	73,975	3,914	161,378	67,918
Net (income) loss attributable to noncontrolling interests:
Noncontrolling interest in consolidated joint ventures	(9)	(32)	170	5
Noncontrolling interest in the Operating Partnership	(299)	(43)	(626)	(318)
Net income attributable to common shareholders	$ 67,696	$ 1,821	$ 142,542	$ 65,825
Basic per common share data:
Net income per share attributable to common shareholders (in dollars per share)	$ 0.39	$ 0.01	$ 0.81	$ 0.50
Weighted-average number of common shares (in shares)	174,326,198	140,249,961	174,253,393	129,317,120
Diluted per common share data:
Net income per share attributable to common shareholders (in dollars per share)	$ 0.39	$ 0.01	$ 0.81	$ 0.50
Weighted-average number of common shares (in shares)	174,479,341	140,307,269	174,365,101	129,399,177
Dividends declared per common share	$ 0.33	$ 0.33
Comprehensive income:
Unrealized gain on interest rate derivatives	$ 4,675	$ 1,746	$ 29,469	$ 5,579
Comprehensive income	79,332	5,857	192,412	73,932
Noncontrolling interest in consolidated joint ventures	(9)	(32)	170	5
Noncontrolling interest in the Operating Partnership	(299)	(43)	(626)	(318)
Comprehensive income attributable to RLJ	78,650	5,660	190,847	73,497
Occupancy [Member]
Revenues
Revenue from Contract with Customer, Excluding Assessed Tax	377,237	292,046	1,138,115	770,751
Expenses
Cost of Goods and Services Sold	95,161	69,380	279,589	176,523
Food and Beverage [Member]
Revenues
Revenue from Contract with Customer, Excluding Assessed Tax	47,211	35,580	157,850	91,392
Expenses
Cost of Goods and Services Sold	37,780	27,061	121,450	66,458
Hotel, Other [Member]
Revenues
Revenue from Contract with Customer, Excluding Assessed Tax	22,594	13,629	65,362	31,628
Expenses
Cost of Goods and Services Sold	105,646	78,120	320,325	195,000
Hotel [Member]
Expenses
Cost of Goods and Services Sold	$ 273,425	$ 204,132	$ 829,130	$ 524,091

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in-Capital	Retained Earnings [Member]	Retained Earnings (Distributions in excess of net earnings)	Accumulated Other Comprehensive Income	Consolidated Joint Venture [Member]	Operating Partnership	Consolidated Joint Venture	Preferred Capital in Consolidated Joint Venture [Member]	Series A Cumulative Preferred Stock [Member]
Net Income (Loss) Attributable to Parent	$ 67,918
Net income attributable to RLJ	65,825
Balance (in shares) at Dec. 31, 2016		124,364,178
Balance at Dec. 31, 2016	2,235,277	$ 1,244	$ 2,187,333		$ 38,249	$ (4,902)		$ 7,380	$ 5,973	$ 0
Increase (Decrease) in Owners' Equity
Net income (loss)	68,353				67,918			318	(5)	122
Unrealized gain on interest rate derivatives	5,579					5,579
Issuance of restricted stock (in shares)		425,076
Issuance of restricted stock	0	$ 4	(4)
Amortization of share-based compensation	7,964		7,964
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock (in shares)		(105,378)
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock	$ (2,216)	$ (2)	(2,214)
Shares acquired as part of a share repurchase program (in shares)	(122,508)	(122,508)
Shares acquired as part of a share repurchase program	$ (2,610)	$ (1)	(2,609)
Forfeiture of restricted stock (in shares)		(5,866)
Forfeiture of restricted stock	0	$ 0	0
Dividends	(2,093)			$ (2,093)
Distributions on common shares and units	(129,977)				(129,400)			(577)
Balance (in shares) at Sep. 30, 2017		174,913,606									12,879,475
Balance at Sep. 30, 2017	3,617,247	$ 1,749	3,206,193		(25,326)	677		11,463	11,125	44,430	$ 366,936
Increase (Decrease) in Owners' Equity
Preferred Stock Dividends and Other Adjustments	(122)									(122)
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares											12,879,475
Stock Issued During Period, Value, Acquisitions	366,936										$ 366,936
Preferred Stock, Value, Issued	366,936
Net Income (Loss) Attributable to Parent	161,378
Net income attributable to RLJ	142,542
Balance (in shares) at Dec. 31, 2017		174,869,046									12,879,475
Balance at Dec. 31, 2017	3,570,278	$ 1,749	3,208,002		(82,566)	8,846		11,181	11,700	44,430	$ 366,936
Increase (Decrease) in Owners' Equity
Net income (loss)	162,943							626	(170)	1,109
Unrealized gain on interest rate derivatives	29,469					29,469
Contributions from a noncontrolling interest	110						$ 110
Issuance of restricted stock (in shares)		591,851
Issuance of restricted stock	0	$ 6	(6)
Amortization of share-based compensation	10,135		10,135
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock (in shares)		(132,370)
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock	(2,926)	$ (2)	(2,924)
Forfeiture of restricted stock (in shares)		(113,325)
Forfeiture of restricted stock	0	$ (1)	1
Dividends	(18,836)			$ (18,836)
Distributions on common shares and units	(174,600)				(173,817)			(783)
Balance (in shares) at Sep. 30, 2018		175,215,202									12,879,475
Balance at Sep. 30, 2018	3,575,464	$ 1,752	$ 3,215,208		$ (113,841)	$ 38,315		$ 11,024	$ 11,640	44,430	$ 366,936
Increase (Decrease) in Owners' Equity
Preferred Stock Dividends and Other Adjustments	(1,109)									$ (1,109)
Preferred Stock, Value, Issued	$ 366,936

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities
Net income	$ 162,943,000	$ 68,353,000
Adjustments to reconcile net income to cash flow provided by operating activities:
(Gain) loss on sale of hotel properties	(32,957,000)	49,000
Gain (Loss) on Extinguishment of Debt	(6,010,000)	0
Gain (Loss) on Investments	0	(2,670,000)
Depreciation and amortization	183,429,000	122,136,000
Amortization of deferred financing costs	2,688,000	2,597,000
Amortization of Debt Discount (Premium)	(2,450,000)	(104,000)
Income (Loss) from Equity Method Investments	(637,000)	(57,000)
Proceeds from Equity Method Investment, Distribution	2,050,000	750,000
Accretion of interest income on investment in loan	0	(664,000)
Amortization of share-based compensation	9,722,000	7,964,000
Deferred income taxes	6,145,000	7,972,000
Changes in assets and liabilities:
Hotel and other receivables, net	(18,420,000)	(16,493,000)
Prepaid expense and other assets	12,871,000	74,000
Accounts payable and other liabilities	(6,916,000)	28,411,000
Advance deposits and deferred revenue	3,801,000	(1,238,000)
Accrued interest	(2,785,000)	(9,751,000)
Net cash flow provided by operating activities	313,474,000	207,329,000
Cash flows from investing activities
Payments to Acquire Real Estate Held-for-investment	0	(24,883,000)
Proceeds from the sale of hotel properties, net	447,737,000	(49,000)
Improvements and additions to hotel properties	(144,195,000)	(58,853,000)
Additions to property and equipment	(116,000)	(152,000)
Payments for (Proceeds from) Investments	0	12,792,000
Net cash flow provided by (used in) investing activities	303,426,000	(71,145,000)
Cash flows from financing activities
Borrowings under Revolver	300,000,000	0
Repayments under Revolver	(300,000,000)	0
Repayments of Senior Notes	(539,025,000)	0
Payments of mortgage loans principal	(32,942,000)	(3,168,000)
Repurchase of common shares under a share repurchase program	0	(2,610,000)
Repurchase of common shares to satisfy employee withholding requirements	(2,925,000)	(2,216,000)
Payments of Ordinary Dividends, Preferred Stock and Preference Stock	(18,836,000)	0
Distributions on common shares	(173,367,000)	(150,701,000)
Distributions on Operating Partnership units	(766,000)	(667,000)
Payments of deferred financing costs	(3,615,000)	(1,050,000)
Payments of Distributions to Affiliates	(1,113,000)	(126,000)
Cash received from a noncontrolling interest	110,000	0
Net cash flow used in financing activities	(772,479,000)	(160,538,000)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	(155,579,000)	(24,354,000)
Cash, cash equivalents, and restricted cash reserves, end of period	425,384,000	421,181,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 503,497,000	$ 499,524,000

Organization

Organization	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization RLJ Lodging Trust (the "Company") was formed as a Maryland real estate investment trust ("REIT") on January 31, 2011. The Company is a self-advised and self-administered REIT that owns primarily premium-branded, high-margin, focused-service and compact full-service hotels. The Company elected to be taxed as a REIT, for U.S. federal income tax purposes, commencing with its taxable year ended December 31, 2011. Substantially all of the Company’s assets and liabilities are held by, and all of its operations are conducted through, RLJ Lodging Trust, L.P. (the "Operating Partnership"). The Company is the sole general partner of the Operating Partnership. As of September 30, 2018 , there were 175,989,104 units of limited partnership interest in the Operating Partnership ("OP units") outstanding and the Company owned, through a combination of direct and indirect interests, 99.6% of the outstanding OP units. As of September 30, 2018 , the Company owned 152 hotel properties with approximately 29,400 rooms, located in 25 states and the District of Columbia. The Company, through wholly-owned subsidiaries, owned a 100% interest in 148 of its hotel properties, a 98.3% controlling interest in the DoubleTree Metropolitan Hotel New York City, a 95% controlling interest in The Knickerbocker, and 50% interests in entities owning two hotel properties. The Company consolidates its real estate interests in the 150 hotel properties in which it holds a controlling financial interest, and the Company records the real estate interests in the two hotels in which it holds an indirect 50% interest using the equity method of accounting. The Company leases 151 of the 152 hotel properties to its taxable REIT subsidiaries ("TRS"), of which the Company owns a controlling financial interest.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies The Company's Annual Report on Form 10-K for the year ended December 31, 2017 contains a discussion of the Company's significant accounting policies. Other than noted below, there have been no other significant changes to the Company's significant accounting policies since December 31, 2017 . Basis of Presentation and Principles of Consolidation The unaudited consolidated financial statements and related notes have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America ("GAAP") and in conformity with the rules and regulations of the Securities and Exchange Commission ("SEC") applicable to financial information. The unaudited financial statements include all adjustments that are necessary, in the opinion of management, to fairly state the consolidated balance sheets, statements of operations and comprehensive income, statements of changes in equity and statements of cash flows. The unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto as of and for the year ended December 31, 2017 , included in the Company's Annual Report on Form 10-K filed with the SEC on February 28, 2018. The consolidated financial statements include the accounts of the Company, the Operating Partnership and its wholly-owned subsidiaries, and joint ventures in which the Company has a majority voting interest and control. For the controlled subsidiaries that are not wholly-owned, the third-party ownership interest represents a noncontrolling interest, which is presented separately in the consolidated financial statements. The Company also records the real estate interests in two joint ventures in which it holds an indirect 50% interest using the equity method of accounting. All intercompany balances and transactions have been eliminated in consolidation. Reclassifications Certain prior year amounts in these financial statements have been reclassified to conform to the current year presentation with no impact to net income and comprehensive income, shareholders’ equity or cash flows. Use of Estimates The preparation of the Company’s financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of certain assets and liabilities and the amounts of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Revenue In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers , which supersedes or replaces nearly all GAAP revenue recognition guidance. The guidance establishes a new control-based revenue recognition model that changes the basis for deciding when revenue is recognized over time or at a point in time and expands the disclosures about revenue. The guidance also applies to sales of real estate and the new principles-based approach is largely based on the transfer of control of the real estate to the buyer. The Company adopted this standard on January 1, 2018 using the modified retrospective transition method. Accordingly, the Company's revenue beginning on January 1, 2018 is presented under ASC 606, while prior period revenue is reported under the accounting standards in effect for those historical periods. Based on the Company's assessment, the adoption of this standard did not have an impact to the Company's consolidated financial statements but it did result in additional disclosures in the notes to the consolidated financial statements. Refer to Note 7, Revenue , for the Company's disclosures about revenue. Substantially all of the Company's revenues are derived from the operation of hotel properties. The Company generates room revenue by renting hotel rooms to customers at its hotel properties. The Company generates food and beverage revenue from the sale of food and beverage to customers at its hotel properties. The Company generates other revenue from parking fees, golf, pool and other resort fees, gift shop sales and other guest service fees at its hotel properties. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. A contract's transaction price is allocated to each distinct performance obligation and recognized as revenue when the performance obligation is satisfied. The Company's contracts generally have a single performance obligation, such as renting a hotel room to a customer, or providing food and beverage to a customer, or providing a hotel property-related good or service to a customer. The Company's performance obligations are generally satisfied at a point in time. The Company allocates revenue to each performance obligation based on its relative standalone selling price. The Company determines the standalone selling price based on the price it charges each customer for the use or consumption of the promised good or service. The Company's revenue is recognized when control of the promised good or service is transferred to the customer, in an amount that reflects the consideration the Company expects to receive in exchange for the promised good or service. The revenue is recorded net of any sales and occupancy taxes collected from the customer. All rebates or discounts are recorded as a reduction to revenue, and there are no material contingent obligations with respect to rebates and discounts offered by the hotel properties. The timing of revenue recognition, billings, and cash collections results in the Company recognizing hotel and other receivables and advance deposits and deferred revenue on the consolidated balance sheet. Hotel and other receivables are recognized when the Company has provided a good or service to the customer but is only waiting for the passage of time before the customer submits consideration to the Company. Advance deposits and deferred revenue are recognized on the consolidated balance sheets when cash payments are received in advance of the Company satisfying its performance obligation. Advance deposits and deferred revenue consist of amounts that are refundable and non-refundable to the customer. The advance deposits and deferred revenue are recognized as revenue in the consolidated statements of operations and comprehensive income when the Company satisfies its performance obligation to the customer. For the majority of its goods or services and customers, the Company requires payment at the time the respective good or service is provided to the customer. The Company's payment terms vary by the type of customer and the goods or services offered to the customer. The Company applied a practical expedient to not disclose the value of unsatisfied performance obligations for contracts that have an original expected length of one year or less. Any contracts that have an original expected length of greater than one year are insignificant. An allowance for doubtful accounts is the Company's best estimate of the amount of probable credit losses in the existing accounts receivable portfolio and increases to the allowance for doubtful accounts are recorded as bad debt expense. The allowance for doubtful accounts is calculated as a percentage of the aged accounts receivable. Investment in Hotel Properties The Company’s acquisitions generally consist of land, land improvements, buildings, building improvements, furniture, fixtures and equipment ("FF&E"), and inventory. The Company may also acquire intangible assets or liabilities related to in-place leases, management agreements, franchise agreements and advanced bookings. The Company allocates the purchase price among the assets acquired and the liabilities assumed based on their respective fair values at the date of acquisition. The Company determines the fair value by using market data and independent appraisals available to us and making numerous estimates and assumptions. Transaction costs are expensed for acquisitions that are considered business combinations and capitalized for asset acquisitions. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business . The guidance clarifies the definition of a business by adding guidance to assist companies and other reporting organizations with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. If substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single asset or a group of similar identifiable asset(s), then the transaction is considered to be an asset acquisition (or disposition). As a result of this standard, the Company anticipates the majority of its hotel purchases will be considered asset acquisitions as opposed to business combinations, although the determination will be made on a transaction-by-transaction basis. Transaction costs associated with asset acquisitions will be capitalized rather than expensed as incurred. The Company adopted this guidance on January 1, 2018 on a prospective basis. The Company does not believe the accounting for each future acquisition (or disposal) of assets or a business will be materially different, therefore, the adoption of this guidance is not expected to have a material impact on the Company's consolidated financial statements. The Company’s investments in hotel properties are carried at cost and are depreciated using the straight-line method over the estimated useful lives of 15 years for land improvements, 15 years for building improvements, 40 years for buildings and three to five years for FF&E. Maintenance and repairs are expensed and major renewals or improvements to the hotel properties are capitalized. Indirect project costs, including interest, salaries and benefits, travel and other related costs that are directly attributable to the development, are also capitalized. Upon the sale or disposition of a hotel property, the asset and related accumulated depreciation accounts are removed and the related gain or loss is included in the gain or loss on sale of hotel properties in the consolidated statements of operations and comprehensive income. A sale or disposition of a hotel property that represents a strategic shift that has or will have a major effect on the Company's operations and financial results is presented as discontinued operations in the consolidated statements of operations and comprehensive income. In accordance with the guidance on impairment or disposal of long-lived assets, the Company does not consider the "held for sale" classification on the consolidated balance sheet until it is probable that the sale will be completed within one year and the other requisite criteria for such classification have been met. The Company does not depreciate assets so long as they are classified as held for sale. Upon designation as held for sale and quarterly thereafter, the Company reviews the realizability of the carrying value, less costs to sell, in accordance with the guidance. Any such adjustment to the carrying value is recorded as an impairment loss. The Company assesses the carrying value of its hotel properties whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. The recoverability is measured by comparing the carrying amount to the estimated future undiscounted cash flows which take into account current market conditions and the Company’s intent with respect to holding or disposing of the hotel properties. If the Company’s analysis indicates that the carrying value is not recoverable on an undiscounted cash flow basis, the Company will recognize an impairment loss for the amount by which the carrying value exceeds the fair value. The fair value is determined through various valuation techniques, including internally developed discounted cash flow models, comparable market transactions or third-party appraisals. Sale of Real Estate ASU 2014-09 also applies to the sale of real estate and the new principles-based approach is largely based on the transfer of control of the real estate to the buyer. In February 2017, the FASB issued ASU 2017-05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets . This guidance clarifies that ASC 610-20 applies to the derecognition of nonfinancial assets, including real estate, and in substance nonfinancial assets, which are defined as assets or a group of assets for which substantially all of the fair value consists of nonfinancial assets and the group or subsidiary is not a business. As a result of this guidance, sales and partial sales of real estate assets will be accounted for similar to all other sales of nonfinancial and in substance nonfinancial assets. The Company adopted this guidance on January 1, 2018 using the modified retrospective transition method. Based on the Company's assessment, the adoption of this guidance did not have an impact on the Company's consolidated financial statements. Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) . The guidance will require lessees to recognize a right-of-use asset and a lease liability for most of their leases on the balance sheet, and an entity will need to classify its leases as either an operating or finance lease in order to determine the income statement presentation. Leases with a term of 12 months or less will be accounted for similar to the existing guidance today for operating leases. Lessors will classify their leases using an approach that is substantially equivalent to the existing guidance today for operating, direct financing, or sales-type leases. Lessors may only capitalize the incremental direct costs of leasing, so any indirect costs of leasing will be expensed as incurred. The guidance requires an entity to separate the lease components from the non-lease components in a contract, with the lease components being accounted for in accordance with ASC 842 and the non-lease components being accounted for in accordance with other applicable accounting guidance. The guidance is effective for annual reporting periods beginning after December 15, 2018, and the interim periods within those annual periods, with early adoption permitted. The Company will adopt this new standard on January 1, 2019. The Company has not yet completed its analysis on this standard, but it believes the application of the new standard will result in the recording of a right-of-use asset and a lease liability on the consolidated balance sheet for each of its ground leases, parking leases, and equipment leases, which represent the majority of the Company's current operating lease payments. The Company does not expect the adoption of this standard will materially affect its consolidated statements of operations and comprehensive income. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . The guidance amends the hedge accounting recognition and presentation requirements in ASC 815. The guidance is meant to simplify the application of hedge accounting and better align the financial reporting for hedging activities with the entity's economic and risk management activities. Under the new guidance, all changes in the fair value of highly effective cash flow hedges will be recorded in other comprehensive income and they will be reclassified to earnings when the hedged item impacts earnings. The guidance is effective for annual reporting periods beginning after December 15, 2018, and the interim periods within those annual periods, with early adoption permitted. The Company will adopt this new standard on January 1, 2019. Based on the Company's assessment, the adoption of this standard is not expected to have a material impact on the Company's consolidated financial statements. 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 will adopt 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 will not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement . The guidance modifies the disclosure requirements for fair value measurements by removing or modifying some of the disclosures, while also adding new disclosures. The guidance is effective for annual reporting periods beginning after December 15, 2019, and the interim periods within those annual periods, with early adoption permitted. The Company will adopt this new standard on January 1, 2020. Based on the Company's assessment, the adoption of this standard is not expected to have a material impact on the Company's consolidated financial statements.

Merger with FelCor Lodging Trus

Merger with FelCor Lodging Trust Incorporated (Notes)	9 Months Ended
	Sep. 30, 2018
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Merger with FelCor Lodging Trust Incorporated On August 31, 2017 (the "Acquisition Date"), the Company, the Operating Partnership, Rangers Sub I, LLC, a wholly owned subsidiary of the Operating Partnership ("Rangers"), and Rangers Sub II, LP, a wholly owned subsidiary of the Operating Partnership ("Partnership Merger Sub"), consummated the transactions contemplated by the Agreement and Plan of Merger (the "Merger Agreement"), dated as of April 23, 2017, with FelCor Lodging Trust Incorporated ("FelCor") and FelCor Lodging Limited Partnership ("FelCor LP") pursuant to which Partnership Merger Sub merged with and into FelCor LP, with FelCor LP surviving as a wholly owned subsidiary of the Operating Partnership (the "Partnership Merger"), and, immediately thereafter, FelCor merged with and into Rangers, with Rangers surviving as a wholly owned subsidiary of the Operating Partnership (the "REIT Merger" and, together with the Partnership Merger, the "Mergers"). Upon completion of the REIT Merger and under the terms of the Merger Agreement, each issued and outstanding share of common stock, par value $0.01 per share, of FelCor (other than shares held by any wholly owned subsidiary of FelCor or by the Company or any of its subsidiaries) was converted into the right to receive 0.362 (the "Common Exchange Ratio") common shares of beneficial interest, par value $0.01 per share, of the Company (the "Common Shares"), and each issued and outstanding share of $1.95 Series A cumulative convertible preferred stock, par value $0.01 per share, of FelCor was converted into the right to receive one $1.95 Series A Cumulative Convertible Preferred Share, par value $0.01 per share, of the Company (a "Series A Preferred Share"). Upon completion of the Partnership Merger and under the terms of the Merger Agreement, each limited partner of FelCor LP was entitled to elect to exchange its outstanding common limited partnership units in FelCor LP (the "FelCor LP Common Units") for a number of newly issued Common Shares based on the Common Exchange Ratio. Upon completion of the Partnership Merger, each outstanding FelCor LP Common Unit of any holder who did not make the foregoing election was converted into the right to receive a number of common limited partnership units in the Operating Partnership (the "OP Units") based on the Common Exchange Ratio. No fractional shares of units of Common Shares or OP Units were issued in the Mergers, and the value of any fractional interests was paid in cash. The Company accounted for the Mergers under the acquisition method of accounting in ASC 805, Business Combinations. As a result of the Mergers, the Company acquired an ownership interest in the following 37 hotel properties: Hotel Property Name Location Ownership Interest Management Rooms DoubleTree Suites by Hilton Austin Austin, TX 100% Hilton 188 DoubleTree Suites by Hilton Orlando - Lake Buena Vista Orlando, FL 100% Hilton 229 Embassy Suites Atlanta - Buckhead Atlanta, GA 100% Hilton 316 Embassy Suites Birmingham Birmingham, AL 100% Hilton 242 Embassy Suites Boston Marlborough (1) Marlborough, MA 100% Hilton 229 Embassy Suites Dallas - Love Field Dallas, TX 100% Aimbridge Hospitality 248 Embassy Suites Deerfield Beach - Resort & Spa Deerfield Beach, FL 100% Hilton 244 Embassy Suites Fort Lauderdale 17th Street Fort Lauderdale, FL 100% Hilton 361 Embassy Suites Los Angeles - International Airport South El Segundo, CA 100% Hilton 349 Embassy Suites Mandalay Beach - Hotel & Resort Oxnard, CA 100% Hilton 250 Embassy Suites Miami - International Airport Miami, FL 100% Hilton 318 Embassy Suites Milpitas Silicon Valley Milpitas, CA 100% Hilton 266 Embassy Suites Minneapolis - Airport Bloomington, MN 100% Hilton 310 Embassy Suites Myrtle Beach - Oceanfront Resort Myrtle Beach, SC 100% Hilton 255 Embassy Suites Napa Valley (2) Napa, CA 100% Hilton 205 Embassy Suites Orlando - International Drive South/Convention Center Orlando, FL 100% Hilton 244 Embassy Suites Phoenix - Biltmore Phoenix, AZ 100% Hilton 232 Embassy Suites San Francisco Airport - South San Francisco San Francisco, CA 100% Hilton 312 Embassy Suites San Francisco Airport - Waterfront Burlingame, CA 100% Hilton 340 Embassy Suites Secaucus - Meadowlands (3) Secaucus, NJ 50% Hilton 261 Hilton Myrtle Beach Resort Myrtle Beach, SC 100% Hilton 385 Holiday Inn San Francisco - Fisherman's Wharf (4) San Francisco, CA 100% InterContinental Hotels 585 San Francisco Marriott Union Square San Francisco, CA 100% Marriott 400 Sheraton Burlington Hotel & Conference Center (5) (6) Burlington, VT 100% Marriott 309 Sheraton Philadelphia Society Hill Hotel (7) Philadelphia, PA 100% Marriott 364 The Fairmont Copley Plaza (8) Boston, MA 100% FRHI Hotels & Resorts 383 The Knickerbocker New York New York, NY 95% Highgate Hotels 330 The Mills House Wyndham Grand Hotel Charleston, SC 100% Wyndham 216 The Vinoy Renaissance St. Petersburg Resort & Golf Club (9) St. Petersburg, FL 100% Marriott 361 Wyndham Boston Beacon Hill Boston, MA 100% Wyndham 304 Wyndham Houston - Medical Center Hotel & Suites Houston, TX 100% Wyndham 287 Wyndham New Orleans - French Quarter New Orleans, LA 100% Wyndham 374 Wyndham Philadelphia Historic District Philadelphia, PA 100% Wyndham 364 Wyndham Pittsburgh University Center Pittsburgh, PA 100% Wyndham 251 Wyndham San Diego Bayside San Diego, CA 100% Wyndham 600 Wyndham Santa Monica At The Pier Santa Monica, CA 100% Wyndham 132 Chateau LeMoyne - French Quarter, New Orleans (10) New Orleans, LA 50% InterContinental Hotels 171 11,215 (1) In February 2018, the Company sold this hotel property for a sale price of $23.7 million . (2) In July 2018, the Company sold this hotel property for a sale price of $102.0 million . (3) The Company owns an indirect 50% ownership interest in the real estate at this hotel property and records the real estate interests using the equity method of accounting. The Company leases the hotel property to its TRS, of which the Company owns a controlling financial interest in the operating lessee, so the Company consolidates its ownership interest in the leased hotel. (4) In October 2018, the Company sold this hotel property for a sale price of $75.3 million . (5) In December 2017, this hotel property was converted to the DoubleTree by Hilton Burlington Vermont. (6) In September 2018, the Company sold this hotel property for a sale price of $35.0 million . (7) In March 2018, the Company sold this hotel property for a sale price of $95.5 million . (8) In December 2017, the Company sold this hotel property for a sale price of $170.0 million . (9) In August 2018, the Company sold this hotel property for a sale price of $185.0 million . (10) The Company owns an indirect 50% ownership interest in this hotel property and accounts for its ownership interest using the equity method of accounting. This hotel property is operated without a lease. The total consideration for the Mergers was approximately $1.4 billion , which included the Company's issuance of approximately 50.4 million common shares at $20.18 per share to former FelCor common stockholders, the Company's issuance of approximately 12.9 million Series A Preferred Shares at $28.49 per share to former FelCor preferred stockholders, the Operating Partnership's issuance of approximately 0.2 million OP Units at $20.18 per unit to former FelCor LP limited partners, and cash. The total consideration consisted of the following (in thousands): Total Consideration Common Shares $ 1,016,227 Series A Preferred Shares 366,936 OP Units 4,342 Cash, net of cash, cash equivalents, and restricted cash reserves acquired 24,883 Total consideration $ 1,412,388 The Company allocated the purchase price consideration as follows (in thousands): August 31, 2017 Investment in hotel properties $ 2,661,114 Investment in unconsolidated joint ventures 25,651 Hotel and other receivables 28,308 Deferred income tax assets 58,170 Intangible assets 139,673 Prepaid expenses and other assets 23,811 Debt (1,305,337 ) Accounts payable and other liabilities (118,360 ) Advance deposits and deferred revenue (23,795 ) Accrued interest (22,612 ) Distributions payable (4,312 ) Noncontrolling interest in consolidated joint ventures (5,493 ) Preferred equity in a consolidated joint venture (44,430 ) Total consideration $ 1,412,388 The Company used the following valuation methodologies, inputs, and assumptions to estimate the fair value of the assets acquired, the liabilities assumed, and the equity interests acquired: • Investment in hotel properties — The Company estimated the fair values of the land and improvements, buildings and improvements, and furniture, fixtures, and equipment at the hotel properties by using a combination of the market, cost, and income approaches. These valuation methodologies are based on significant Level 3 inputs in the fair value hierarchy, such as estimates of future income growth, capitalization rates, discount rates, capital expenditures, and cash flow projections at the respective hotel properties. • Investment in unconsolidated joint ventures — The Company estimated the fair value of its real estate interests in the unconsolidated joint ventures by using the same valuation methodologies for the investment in hotel properties noted above and for the debt noted below. The Company recognized the net assets acquired based on its respective ownership interest in the joint venture according to the joint venture agreement. • Deferred income tax assets — The Company estimated the future realizable value of the deferred income tax assets by estimating the amount of the net operating loss that will be utilized in future periods by the acquired taxable REIT subsidiaries. The Company then applied its applicable effective tax rate against the net operating losses to determine the appropriate deferred income tax assets to recognize. This valuation methodology is based on Level 3 inputs in the fair value hierarchy. • Intangible assets — The Company estimated the fair value of its below market ground lease intangible assets by calculating the present value of the difference between the contractual rental amounts paid according to the in-place lease agreements and the market rental rates for similar leased space, measured over a period equal to the remaining non-cancelable term of the lease. This valuation methodology is based on Level 3 inputs in the fair value hierarchy. The below market ground lease intangible assets are amortized over the remaining terms of the respective leases as adjustments to rental expense in property tax, insurance and other in the consolidated statements of operations and comprehensive income. The Company estimated the fair value of the advanced bookings intangible asset by using the income approach to determine the projected cash flows that a hotel property will receive as a result of future hotel room and guests events that have already been reserved and pre-booked at the hotel property as of the Acquisition Date. This valuation methodology is based on Level 3 inputs in the fair value hierarchy. The advanced bookings intangible asset is amortized over the duration of the hotel room and guest event reservations period at the hotel property to depreciation and amortization in the consolidated statements of operations and comprehensive income. The Company recognized the following intangible assets in the Mergers (dollars in thousands): Weighted Average Amortization Period (in Years) Below market ground leases $ 118,050 54 Advanced bookings 13,862 1 Other intangible assets 7,761 6 Total intangible assets $ 139,673 46 • Above market ground lease liabilities — The Company estimated the fair value of its above market ground lease liabilities by calculating the present value of the difference between the contractual rental amounts paid according to the in-place lease agreements and the market rental rates for similar leased space, measured over a period equal to the remaining non-cancelable term of the lease. This valuation methodology is based on Level 3 inputs in the fair value hierarchy. The Company recognized approximately $15.5 million of above market ground lease liabilities in the Mergers, which are included in accounts payable and other liabilities in the accompanying consolidated balance sheet. The above market ground lease liabilities are amortized over the remaining terms of the respective leases as adjustments to rental expense in property tax, insurance and other in the consolidated statements of operations and comprehensive income. • Debt — The Company estimated the fair value of the Senior Notes (as defined in Note 8) by using publicly available trading prices, market interest rates, and spreads for the Senior Notes, which are Level 3 inputs in the fair value hierarchy. The Company estimated the fair value of the mortgage loans using a discounted cash flow model and incorporated various inputs and assumptions for the effective borrowing rates for debt with similar terms and the loan to estimated fair value of the collateral, which are Level 3 inputs in the fair value hierarchy. The Company recognized approximately $71.7 million in above market debt fair value adjustments on the Senior Notes and the mortgage loans assumed in the Mergers, which is included in debt, net in the accompanying consolidated balance sheet. The above market debt fair value adjustments are amortized over the remaining terms of the respective debt instruments as adjustments to interest expense in the consolidated statements of operations and comprehensive income. • Noncontrolling interest in consolidated joint ventures — The Company estimated the fair value of the consolidated joint ventures by using the same valuation methodologies for the investment in hotel properties noted above. The Company then recognized the fair value of the noncontrolling interest in the consolidated joint ventures based on the joint venture partner's ownership interest in the consolidated joint venture. This valuation methodology is based on Level 3 inputs and assumptions in the fair value hierarchy. • Preferred equity in a consolidated joint venture — The Company estimated the fair value of the preferred equity in a consolidated joint venture by comparing the contractual terms of the preferred equity agreement to market-based terms of a similar preferred equity agreement, which is based on Level 3 inputs in the fair value hierarchy. • Hotel and other receivables, prepaid expenses and other assets, accounts payable and other liabilities, advance deposits and deferred revenue, accrued interest, and distributions payable — The carrying amounts of the assets acquired, the liabilities assumed, and the equity interests acquired approximate fair value because of their short term maturities. For the hotel properties acquired during the nine months ended September 30, 2017, the total revenues and net income from the date of acquisition through September 30, 2017 are included in the accompanying consolidated statements of operations as follows (in thousands): For the one month ended September 30, 2017 Revenue $ 66,457 Net income $ 6,768 The following table presents the costs that were incurred in connection with the Mergers (in thousands): For the three months ended September 30, For the nine months ended September 30, 2018 2017 2018 2017 Transaction costs $ 86 $ 30,270 $ (527 ) $ 34,517 Integration costs 156 2,193 1,881 2,193 $ 242 $ 32,463 $ 1,354 $ 36,710 The transaction costs primarily related to transfer taxes, including any refund of transfer taxes, and financial advisory, legal, and other professional service fees in connection with the Mergers. The integration costs primarily related to professional fees and employee-related costs, including compensation for transition employees. The merger-related costs noted above were expensed to transaction costs in the accompanying consolidated statements of operations and comprehensive income. The following unaudited condensed pro forma financial information presents the results of operations as if the Mergers had taken place on January 1, 2016. The unaudited condensed pro forma financial information is not necessarily indicative of what the actual results of operations of the Company would have been assuming the Mergers had taken place on January 1, 2016, nor is it indicative of the results of operations for future periods. The unaudited condensed pro forma financial information is as follows (in thousands): For the three months ended September 30, 2017 For the nine months ended September 30, 2017 (unaudited) Revenue $ 482,839 $ 1,431,409 Net income attributable to common shareholders $ 35,275 $ 104,528 Net income per share attributable to common shareholders - basic $ 0.20 $ 0.60 Net income per share attributable to common shareholders - diluted $ 0.20 $ 0.60 Weighted-average number of shares outstanding - basic 174,186,944 174,141,367 Weighted-average number of shares outstanding - diluted 174,244,252 174,223,424

Investment in Hotel Properties

Investment in Hotel Properties	9 Months Ended
	Sep. 30, 2018
Property, Plant and Equipment [Abstract]
Investment in Hotel Properties	Investment in Hotel Properties Investment in hotel properties consisted of the following (in thousands): September 30, 2018 December 31, 2017 Land and improvements $ 1,208,365 $ 1,275,030 Buildings and improvements 4,660,962 4,890,266 Furniture, fixtures and equipment 785,418 756,546 6,654,745 6,921,842 Accumulated depreciation (1,281,574 ) (1,129,917 ) Investment in hotel properties, net $ 5,373,171 $ 5,791,925 For the three and nine months ended September 30, 2018 , the Company recognized depreciation expense related to its investment in hotel properties of approximately $58.5 million and $176.4 million , respectively. For the three and nine months ended September 30, 2017 , the Company recognized depreciation expense related to its investment in hotel properties of approximately $44.1 million and $120.8 million , respectively. Held for Sale In July 2018, the Company entered into a purchase and sale agreement to sell the Holiday Inn San Francisco - Fisherman's Wharf. At September 30, 2018, this hotel property has been included in assets of hotel properties held for sale, net in the accompanying consolidated balance sheet. The transaction closed on October 15, 2018. The following table is a summary of the major classes of assets held for sale (in thousands): September 30, 2018 Land and improvements $ 12,203 Buildings and improvements 10,900 Furniture, fixtures and equipment 2,074 Total investment in hotel properties, net 25,177 Intangible assets 272 Total assets of hotel properties held for sale, net $ 25,449

Investment in Unconsolidated Jo

Investment in Unconsolidated Joint Ventures (Notes)	9 Months Ended
	Sep. 30, 2018
Investment in Unconsolidated Joint Ventures [Abstract]
Equity Method Investments and Joint Ventures Disclosure [Text Block]	Investment in Unconsolidated Joint Ventures As of September 30, 2018 and December 31, 2017 , the Company owned 50% interests in joint ventures that owned two hotel properties. The Company also owned 50% interests in joint ventures that owned real estate and a condominium management business that are associated with two of our resort hotel properties. The Company accounts for the investments in these unconsolidated joint ventures under the equity method of accounting. The Company makes adjustments to the equity in income (loss) from unconsolidated joint ventures related to the difference between the Company's basis in the investment in the unconsolidated joint ventures as compared to the historical basis of the assets and liabilities of the joint ventures. As of September 30, 2018 and December 31, 2017 , the unconsolidated joint ventures' debt consisted entirely of non-recourse mortgage debt. The following table summarizes the components of the Company's investments in unconsolidated joint ventures (in thousands): September 30, 2018 December 31, 2017 Equity basis of the joint venture investments $ (58 ) $ 253 Cost of the joint venture investments in excess of the joint venture book value 22,530 23,632 Investment in unconsolidated joint ventures $ 22,472 $ 23,885 The following table summarizes the components of the Company's equity in income from unconsolidated joint ventures (in thousands): For the three months ended September 30, For the nine months ended September 30, 2018 2017 2018 2017 Unconsolidated joint ventures net income attributable to the Company $ 587 $ 150 $ 1,739 $ 150 Depreciation of cost in excess of book value (368 ) (93 ) (1,102 ) (93 ) Equity in income from unconsolidated joint ventures $ 219 $ 57 $ 637 $ 57

Sale of Hotel Properties

Sale of Hotel Properties	9 Months Ended
	Sep. 30, 2018
Discontinued Operations and Disposal Groups [Abstract]
Disposal of Hotel Properties	Sale of Hotel Properties During the nine months ended September 30, 2018 , the Company sold six hotel properties for a total sale price of approximately $454.1 million . In connection with these transactions, the Company recorded an aggregate $30.9 million net gain on sales, which is included in gain (loss) on sale of hotel properties, net in the accompanying consolidated statement of operations and comprehensive income. The gain on sale includes a gain on extinguishment of indebtedness of $5.1 million associated with two of the hotel properties that were sold. The following table discloses the hotel properties that were sold during the nine months ended September 30, 2018 : Hotel Property Name Location Sale Date Rooms Embassy Suites Boston Marlborough Marlborough, MA February 21, 2018 229 Sheraton Philadelphia Society Hill Hotel Philadelphia, PA March 27, 2018 364 Embassy Suites Napa Valley Napa, CA July 13, 2018 205 DoubleTree Hotel Columbia Columbia, MD August 7, 2018 152 The Vinoy Renaissance St. Petersburg Resort & Golf Club St. Petersburg, FL August 28, 2018 362 DoubleTree by Hilton Burlington Vermont Burlington, VT September 27, 2018 309 Total 1,621 During the nine months ended September 30, 2018 , the Company also sold a parcel of land for a sale price of $1.5 million . In connection with this transaction, the Company recorded a $1.4 million gain on sale, which is included in gain on sale of hotel properties, net in the accompanying consolidated statement of operations and comprehensive income. During the year ended December 31, 2016, the Company sold two hotel properties and deferred a gain of $15.0 million related to the Company's maximum exposure to loss with respect to certain post-closing obligations. During the nine months ended September 30, 2018, the Company satisfied certain post-closing obligations and recognized an additional $0.7 million gain on sale, which is included in gain on sale of hotel properties, net in the accompanying consolidated statement of operations and comprehensive income. The Company has satisfied all post-closing obligations with respect to the sale of the two hotel properties. On October 15, 2018, the Company sold the Holiday Inn San Francisco - Fisherman's Wharf for $75.3 million . In connection with the sale, the Company transferred its purchase option on the land underlying the ground lease to the buyer. The proceeds to the Company as a result of the sale was approximately $30.4 million . During the nine months ended September 30, 2017 , the Company did not sell any hotel properties.

Revenue (Notes)

Revenue (Notes)	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Revenue The Company recognized revenue from the following geographic markets (in thousands): For the three months ended September 30, 2018 For the three months ended September 30, 2017 Room Revenue Food and Beverage Revenue Other Revenue Total Revenue Room Revenue Food and Beverage Revenue Other Revenue Total Revenue Northern California $ 67,161 $ 4,705 $ 2,238 $ 74,104 $ 39,998 $ 2,808 $ 1,064 $ 43,870 Southern California 36,820 4,189 2,612 43,621 21,268 2,293 1,130 24,691 New York City 34,935 4,093 1,164 40,192 26,987 2,158 800 29,945 South Florida 24,678 4,426 1,773 30,877 18,186 2,966 992 22,144 Chicago 21,935 3,457 577 25,969 20,553 3,648 473 24,674 Denver 21,503 3,186 372 25,061 22,432 3,330 428 26,190 Austin 17,399 2,058 865 20,322 17,356 2,103 688 20,147 Houston 14,041 853 1,150 16,044 13,549 617 741 14,907 Washington, DC 15,570 487 614 16,671 16,511 814 675 18,000 Louisville 8,233 3,361 468 12,062 9,935 2,215 566 12,716 Other 114,962 16,396 10,761 142,119 85,271 12,628 6,072 103,971 Total $ 377,237 $ 47,211 $ 22,594 $ 447,042 $ 292,046 $ 35,580 $ 13,629 $ 341,255 For the nine months ended September 30, 2018 For the nine months ended September 30, 2017 Room Revenue Food and Beverage Revenue Other Revenue Total Revenue Room Revenue Food and Beverage Revenue Other Revenue Total Revenue Northern California $ 184,087 $ 15,586 $ 6,120 $ 205,793 $ 86,288 $ 5,126 $ 2,168 $ 93,582 South Florida 102,940 15,413 5,470 123,823 64,933 9,871 3,297 78,101 Southern California 100,838 12,545 6,688 120,071 48,326 4,654 2,039 55,019 New York City 93,612 11,722 3,106 108,440 62,678 4,353 1,995 69,026 Austin 63,968 7,035 2,696 73,699 59,469 6,723 1,941 68,133 Chicago 56,451 9,895 1,470 67,816 53,451 10,343 1,282 65,076 Denver 55,292 9,423 976 65,691 57,038 9,745 1,109 67,892 Washington, DC 51,577 2,047 1,785 55,409 52,664 2,410 1,831 56,905 Houston 47,469 2,803 3,199 53,471 41,339 2,080 2,197 45,616 Louisville 28,830 10,461 1,525 40,816 33,303 9,977 1,856 45,136 Other 353,051 60,920 32,327 446,298 211,262 26,110 11,913 249,285 Total $ 1,138,115 $ 157,850 $ 65,362 $ 1,361,327 $ 770,751 $ 91,392 $ 31,628 $ 893,771

Debt

Debt	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Debt	Debt The Company's debt consisted of the following (in thousands): September 30, 2018 December 31, 2017 Senior Notes $ 506,503 $ 1,062,716 Revolver and Term Loans, net 1,168,736 1,170,954 Mortgage loans, net 614,925 646,818 Debt, net $ 2,290,164 $ 2,880,488 Senior Notes The Company's senior secured notes and the senior unsecured notes are collectively the "Senior Notes". The Company's Senior Notes consisted of the following (in thousands): Outstanding Borrowings at Number of Assets Encumbered Interest Rate Maturity Date September 30, 2018 December 31, 2017 Senior secured notes (1) (2) (3) 9 5.63% — $ — $ 552,669 Senior unsecured notes (1) (2) (4) — 6.00% June 2025 506,503 510,047 Total Senior Notes $ 506,503 $ 1,062,716 (1) Requires payments of interest only through maturity. (2) The senior secured notes include $28.7 million at December 31, 2017, and the senior unsecured notes include $31.5 million and $35.1 million at September 30, 2018 and December 31, 2017 , respectively, related to fair value adjustments on the Senior Notes that were assumed in the Mergers. (3) On March 9, 2018 (the "Redemption Date"), the Company completed the early redemption of the senior secured notes in full for an aggregate amount of approximately $539.0 million , which included the redemption price of 102.813% for the outstanding principal amount. The Company recognized a gain of approximately $7.7 million on the early redemption, which is included in gain (loss) on extinguishment of indebtedness, net in the accompanying consolidated statements of operations and comprehensive income. The gain on extinguishment of indebtedness excludes $5.1 million related to two hotel properties that were sold during the nine months ended September 30, 2018 that is included in gain (loss) on sale of hotel properties, net in the accompanying consolidated statement of operations and comprehensive income. (4) The Company has the option to redeem the senior unsecured notes beginning June 1, 2020 at a premium of 103.0% . The Senior Notes are subject to customary financial covenants. As of September 30, 2018 and December 31, 2017 , the Company was in compliance with all financial covenants. Revolver and Term Loans The Company has the following unsecured credit agreements in place: • $600.0 million revolving credit facility with a scheduled maturity date of April 22, 2020 with a one -year extension option if certain conditions are satisfied (the "Revolver"); • $400.0 million term loan with a scheduled maturity date of April 22, 2021 (the "$400 Million Term Loan Maturing 2021"); • $150.0 million term loan with a scheduled maturity date of January 22, 2022 (the "$150 Million Term Loan Maturing 2022"); • $400.0 million term loan with a scheduled maturity date of January 25, 2023 (the "$400 Million Term Loan Maturing 2023"). This term loan was referred to as the $400 Million Term Loan Maturing 2019 in previous periodic filings; and • $225.0 million term loan with a scheduled maturity date of January 25, 2023 (the "$225 Million Term Loan Maturing 2023"). This term loan was referred to as the $225 Million Term Loan Maturing 2019 in previous periodic filings. The $400 Million Term Loan Maturing 2021, the $150 Million Term Loan Maturing 2022, the $400 Million Term Loan Maturing 2023, and the $225 Million Term Loan Maturing 2023 are collectively the "Term Loans". The Revolver and Term Loans are subject to customary financial covenants. As of September 30, 2018 and December 31, 2017 , the Company was in compliance with all financial covenants. The Company's unsecured credit agreements consisted of the following (in thousands): Outstanding Borrowings at Interest Rate at September 30, 2018 (1) Maturity Date September 30, 2018 December 31, 2017 Revolver (2) 3.76% April 2020 $ — $ — $400 Million Term Loan Maturing 2021 3.08% April 2021 400,000 400,000 $150 Million Term Loan Maturing 2022 3.08% January 2022 150,000 150,000 $400 Million Term Loan Maturing 2023 3.19% January 2023 400,000 400,000 $225 Million Term Loan Maturing 2023 3.44% January 2023 225,000 225,000 1,175,000 1,175,000 Deferred financing costs, net (3) (6,264 ) (4,046 ) Total Revolver and Term Loans, net $ 1,168,736 $ 1,170,954 (1) Interest rate at September 30, 2018 gives effect to interest rate hedges. (2) At both September 30, 2018 and December 31, 2017 , there was $600.0 million of borrowing capacity on the Revolver. The Company has the ability to further increase the borrowing capacity to $750.0 million , subject to certain lender requirements. (3) Excludes $1.7 million and $2.6 million as of September 30, 2018 and December 31, 2017 , respectively, related to deferred financing costs on the Revolver, which are included in prepaid expense and other assets in the accompanying consolidated balance sheets. Mortgage Loans The Company's mortgage loans consisted of the following (in thousands): Principal balance at Lender Number of Assets Encumbered Interest Rate at September 30, 2018 (1) Maturity Date September 30, 2018 December 31, 2017 Wells Fargo (5) 4 4.05% March 2019 (3) $ 141,000 $ 143,250 Wells Fargo (2) 4 4.08% October 2019 (4) 150,000 150,000 PNC Bank (2) (6) 5 4.36% March 2021 (7) 85,000 85,000 Wells Fargo (8) 1 5.25% June 2022 32,269 32,882 PNC Bank/Wells Fargo (9) 3 4.95% October 2022 92,322 120,893 Prudential (10) 1 4.94% October 2022 29,758 30,323 Scotiabank (2) (11) 1 LIBOR + 3.00% November 2018 (12) 85,073 85,404 19 615,422 647,752 Deferred financing costs, net (497 ) (934 ) Total mortgage loans, net $ 614,925 $ 646,818 (1) Interest rate at September 30, 2018 gives effect to interest rate hedges. (2) Requires payments of interest only through maturity. (3) In March 2018, the Company extended the maturity date for a one-year term. The maturity date may be extended for three additional one -year terms at the Company’s option, subject to certain lender requirements. (4) In October 2018, the Company extended the maturity date for a one-year term. The maturity date may be extended for two additional one -year terms at the Company's option, subject to certain lender requirements. (5) Two of the four hotels encumbered by the Wells Fargo loan are cross-collateralized. (6) The five hotels encumbered by the PNC Bank loan are cross-collateralized. (7) The maturity date may be extended for two one -year terms at the Company’s option, subject to certain lender requirements. (8) Includes $0.7 million and $0.8 million at September 30, 2018 and December 31, 2017 , respectively, related to a fair value adjustment on the mortgage loan that was assumed in conjunction with an acquisition. (9) Includes $2.0 million and $3.0 million at September 30, 2018 and December 31, 2017 , respectively, related to fair value adjustments on the mortgage loans that were assumed in the Mergers. (10) Includes $0.6 million and $0.7 million at September 30, 2018 and December 31, 2017 , respectively, related to a fair value adjustment on the mortgage loan that was assumed in the Mergers. (11) Includes $0.1 million and $0.4 million at September 30, 2018 and December 31, 2017 , respectively, related to a fair value adjustment on the mortgage loan that was assumed in the Mergers. (12) On November 5, 2018, the Company paid off the Scotiabank mortgage loan in full. Certain mortgage agreements are subject to customary financial covenants. The Company was in compliance with all financial covenants at September 30, 2018 and December 31, 2017 . Interest Expense The components of the Company's interest expense consisted of the following (in thousands): For the three months ended September 30, For the nine months ended September 30, 2018 2017 2018 2017 Senior Notes $ 5,954 $ 3,980 $ 22,485 $ 3,980 Revolver and Term Loans 11,042 9,834 33,428 28,981 Mortgage loans 6,753 4,943 20,171 12,969 Amortization of deferred financing costs 880 893 2,688 2,597 Total interest expense $ 24,629 $ 19,650 $ 78,772 $ 48,527

Derivatives and Hedging

Derivatives and Hedging	9 Months Ended
	Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging	Derivatives and Hedging The Company's interest rate swaps consisted of the following (in thousands): Notional value at Fair value at Hedge type Interest rate Maturity September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Swap-cash flow 1.56% March 2018 $ — $ 175,000 $ — $ (38 ) Swap-cash flow 1.64% March 2018 — 175,000 — (71 ) Swap-cash flow 1.83% September 2018 — 15,758 — (23 ) Swap-cash flow 1.75% September 2018 — 15,758 — (14 ) Swap-cash flow 1.83% September 2018 — 38,678 — (57 ) Swap-cash flow 1.75% September 2018 — 39,632 — (35 ) Swap-cash flow 1.83% September 2018 — 17,190 — (25 ) Swap-cash flow 1.75% September 2018 — 16,235 — (14 ) Swap-cash flow 2.02% March 2019 125,000 125,000 212 (383 ) Swap-cash flow 1.94% March 2019 100,000 100,000 207 (213 ) Swap-cash flow 1.27% March 2019 125,000 125,000 750 836 Swap-cash flow 1.96% March 2019 100,000 100,000 224 (230 ) Swap-cash flow 1.85% March 2019 50,000 50,000 142 (43 ) Swap-cash flow 1.81% March 2019 50,000 50,000 153 (19 ) Swap-cash flow 1.74% March 2019 25,000 25,000 86 13 Swap-cash flow 1.80% September 2020 33,000 33,000 589 202 Swap-cash flow 1.80% September 2020 82,000 82,000 1,463 502 Swap-cash flow 1.80% September 2020 35,000 35,000 624 214 Swap-cash flow 1.81% October 2020 143,000 143,000 2,958 803 Swap-cash flow 1.15% April 2021 100,000 100,000 4,346 2,880 Swap-cash flow 1.20% April 2021 100,000 100,000 4,217 2,726 Swap-cash flow 2.15% April 2021 75,000 75,000 1,323 (144 ) Swap-cash flow 1.91% April 2021 75,000 75,000 1,793 415 Swap-cash flow 1.61% June 2021 50,000 50,000 1,699 769 Swap-cash flow 1.56% June 2021 50,000 50,000 1,778 869 Swap-cash flow 1.71% June 2021 50,000 50,000 1,566 598 Swap-cash flow (1) 2.29% December 2022 200,000 200,000 4,849 (413 ) Swap-cash flow (1) 2.29% December 2022 125,000 125,000 3,054 (259 ) Swap-cash flow (1) 2.38% December 2022 200,000 — 4,180 — Swap-cash flow (1) 2.38% December 2022 100,000 — 2,102 — $ 1,993,000 $ 2,186,251 $ 38,315 $ 8,846 (1) Effective between the maturity of the existing swaps in March 2019 and December 2022. As of September 30, 2018 and December 31, 2017 , the aggregate fair value of the interest rate swap assets of $38.3 million and $10.8 million , respectively, was included in prepaid expense and other assets in the accompanying consolidated balance sheets. As of December 31, 2017 , the aggregate fair value of the interest rate swap liabilities of $2.0 million was included in accounts payable and other liabilities in the accompanying consolidated balance sheets. As of September 30, 2018 and December 31, 2017 , there was approximately $38.3 million and $8.8 million , respectively, of unrealized gains included in accumulated other comprehensive income related to interest rate hedges that are effective in offsetting the variable cash flows. There was no ineffectiveness recorded on the designated hedges during the three and nine month periods ended September 30, 2018 and 2017 . For the three and nine months ended September 30, 2018 , approximately $1.4 million and $1.7 million , respectively, of the amounts included in accumulated other comprehensive income were reclassified into interest expense. For the three and nine months ended September 30, 2017 , approximately $1.3 million and $6.2 million , respectively, of the amounts included in accumulated other comprehensive loss were reclassified into interest expense. Approximately $10.1 million of the unrealized gains included in accumulated other comprehensive income at September 30, 2018 is expected to be reclassified into interest expense within the next 12 months.

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value	Fair Value Fair Value Measurement Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal or most advantageous market. The fair value hierarchy has three levels of inputs, both observable and unobservable: • Level 1 — Inputs include quoted market prices in an active market for identical assets or liabilities. • Level 2 — Inputs are market data, other than Level 1, that are observable either directly or indirectly. Level 2 inputs include quoted market prices for similar assets or liabilities, quoted market prices in an inactive market, and other observable information that can be corroborated by market data. • Level 3 — Inputs are unobservable and corroborated by little or no market data. Fair Value of Financial Instruments The Company used the following market assumptions and/or estimation methods: • Cash and cash equivalents, restricted cash reserves, hotel and other receivables, accounts payable and other liabilities — The carrying amounts reported in the consolidated balance sheets for these financial instruments approximate fair value because of their short term maturities. • Debt — The Company estimated the fair value of the Senior Notes by using publicly available trading prices, market interest rates, and spreads for the Senior Notes, which are Level 2 and Level 3 inputs in the fair value hierarchy. The Company estimated the fair value of the Revolver and Term Loans by using a discounted cash flow model and incorporating various inputs and assumptions for the effective borrowing rates for debt with similar terms, which are Level 3 inputs in the fair value hierarchy. The Company estimated the fair value of the mortgage loans by using a discounted cash flow model and incorporating various inputs and assumptions for the effective borrowing rates for debt with similar terms and the loan to estimated fair value of the collateral, which are Level 3 inputs in the fair value hierarchy. The fair value of the Company's debt was as follows (in thousands): September 30, 2018 December 31, 2017 Carrying Value Fair Value Carrying Value Fair Value Senior Notes $ 506,503 $ 503,969 $ 1,062,716 $ 1,038,892 Revolver and Term Loans, net 1,168,736 1,175,000 1,170,954 1,179,052 Mortgage loans, net 614,925 613,712 646,818 643,078 Debt, net $ 2,290,164 $ 2,292,681 $ 2,880,488 $ 2,861,022 Recurring Fair Value Measurements The following table presents the Company’s fair value hierarchy for those financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2018 (in thousands): Fair Value at September 30, 2018 Level 1 Level 2 Level 3 Total Interest rate swap asset $ — $ 38,315 $ — $ 38,315 Interest rate swap liability — — — — Total $ — $ 38,315 $ — $ 38,315 The following table presents the Company’s fair value hierarchy for those financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2017 (in thousands): Fair Value at December 31, 2017 Level 1 Level 2 Level 3 Total Interest rate swap asset $ — $ 10,827 $ — $ 10,827 Interest rate swap liability — (1,981 ) — (1,981 ) Total $ — $ 8,846 $ — $ 8,846 The fair values of the derivative financial instruments are determined using widely accepted valuation techniques including a discounted cash flow analysis on the expected cash flows for each derivative. The Company determined that the significant inputs, such as interest yield curves and discount rates, used to value its derivatives fall within Level 2 of the fair value hierarchy and that the credit valuation adjustments associated with the Company’s counterparties and its own credit risk utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. As of September 30, 2018 , the Company assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and determined that the credit valuation adjustments were not significant to the overall valuation of its derivatives. As a result, the Company determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company has elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the "Code"). To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including a requirement that it distribute at least 90% of its REIT taxable income, subject to certain adjustments and excluding any net capital gain, to shareholders. The Company’s intention is to adhere to the REIT qualification requirements and to maintain its qualification for taxation as a REIT. As a REIT, the Company is generally not subject to federal corporate income tax on the portion of taxable income that is distributed to shareholders. If the Company fails to qualify for taxation as a REIT in any taxable year, the Company will be subject to U.S. federal income taxes at regular corporate rates (including any applicable alternative minimum tax) and it may not be able to qualify as a REIT for four subsequent taxable years. As a REIT, the Company may be subject to certain state and local taxes on its income and property, and to federal income and excise taxes on undistributed taxable income. The Company’s TRSs will generally be subject to U.S. federal, state, and local income taxes at the applicable rates. The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases, and for net operating loss, capital loss and tax credit carryforwards. The deferred tax assets and liabilities are measured using the enacted income tax rates in effect for the year in which those temporary differences are expected to be realized or settled. The effect on the deferred tax assets and liabilities from a change in tax rates is recognized in earnings in the period when the new rate is enacted. However, deferred tax assets are recognized only to the extent that it is more likely than not that they will be realized based on consideration of all available evidence, including the future reversals of existing taxable temporary differences, future projected taxable income and tax planning strategies. Valuation allowances are provided if, based upon the weight of the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company had no accruals for tax uncertainties as of September 30, 2018 and December 31, 2017 .

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Restricted Cash Reserves The Company is obligated to maintain cash reserve funds for future capital expenditures at the hotels (including the periodic replacement or refurbishment of FF&E) as determined pursuant to the management agreements, franchise agreements and/or mortgage loan documents. The management agreements, franchise agreements and/or mortgage loan documents require the Company to reserve cash ranging typically from 3.0% to 5.0% of the individual hotel’s revenues and maintain the reserves in restricted cash reserve escrows. Any unexpended amounts will remain the property of the Company upon termination of the management agreements, franchise agreements or mortgage loan documents. As of September 30, 2018 and December 31, 2017 , approximately $78.1 million and $72.6 million , respectively, was available in the restricted cash reserves for future capital expenditures, real estate taxes and insurance. Litigation Other than the legal proceeding mentioned below, neither the Company nor any of its subsidiaries is currently involved in any regulatory or legal proceedings that management believes will have a material and adverse effect on the Company's financial position, results of operations or cash flows. Prior to the Mergers, on March 24, 2016, an affiliate of InterContinental Hotels Group PLC ("IHG"), which was previously the hotel management company for three of FelCor's hotels (two of which were sold in 2006, and one of which was converted by FelCor into a Wyndham brand and operation in 2013), notified FelCor that the National Retirement Fund in which the employees at those hotels had participated had assessed a withdrawal liability of $8.3 million , with required quarterly payments including interest, in connection with the termination of IHG’s operation of those hotels. FelCor's hotel management agreements with IHG stated that it may be obligated to indemnify and hold IHG harmless for some or all of any amount ultimately contributed to the pension trust fund with respect to those hotels. Based on the current assessment of the claim, the resolution of this matter may not occur until 2022. As of September 30, 2018 , the Company maintained an accrual of approximately $4.6 million for the future quarterly payments to the pension trust fund, which is included in accounts payable and other liabilities in the accompanying consolidated balance sheet. The Company plans to vigorously defend the underlying claims and, if appropriate, IHG’s demand for indemnification. Management Agreements As of September 30, 2018 , 151 of the Company's hotel properties were operated pursuant to long-term management agreements with initial terms ranging from 3 to 25 years. This number includes 42 hotel properties that receive the benefits of a franchise agreement pursuant to management agreements with Hilton, Hyatt, Marriott, Wyndham, and other hotel brands. Each management company receives a base management fee generally between 3.0% and 3.5% of hotel revenues. Management agreements that include the benefits of a franchise agreement incur a base management fee generally between 2.0% and 7.0% of hotel revenues. The management companies are also eligible to receive an incentive management fee if hotel operating income, as defined in the management agreements, exceeds certain thresholds. The incentive management fee is generally calculated as a percentage of hotel operating income after the Company has received a priority return on its investment in the hotel. Management fees are included in management and franchise fee expense in the accompanying consolidated statements of operations and comprehensive income. For the three and nine months ended September 30, 2018 , the Company incurred management fee expense, including amortization of deferred management fees, of approximately $14.7 million and $45.7 million , respectively. For the three and nine months ended September 30, 2017 , the Company incurred management fee expense, including amortization of deferred management fees, of approximately $10.9 million and $32.5 million , respectively. The Wyndham management agreements guarantee minimum levels of annual net operating income at each of the Wyndham-managed hotels for each year of the initial 10-year term to 2023, subject to an aggregate $100.0 million limit over the term and an annual $21.5 million limit. The Company recognizes the pro-rata portion of the projected aggregate full-year guaranties as a reduction of Wyndham's contractual management and other fees. Franchise Agreements As of September 30, 2018 , 108 of the Company’s hotel properties were operated under franchise agreements with initial terms ranging from 10 to 30 years. This number excludes 42 hotel properties that receive the benefits of a franchise agreement pursuant to management agreements with Hilton, Hyatt, Marriott, Wyndham, and other hotel brands. In addition, The Knickerbocker is not operated with a hotel brand so the hotel does not have a franchise agreement. Franchise agreements allow the hotel properties to operate under the respective brands. Pursuant to the franchise agreements, the Company pays a royalty fee, generally between 4.0% and 6.0% of room revenue, plus additional fees for marketing, central reservation systems and other franchisor costs generally between 1.0% and 4.3% of room revenue. Certain hotels are also charged a royalty fee of generally 3.0% of food and beverage revenues. Franchise fees are included in management and franchise fee expense in the accompanying consolidated statements of operations and comprehensive income. For the three and nine months ended September 30, 2018 , the Company incurred franchise fee expense of approximately $20.2 million and $62.1 million , respectively. For the three and nine months ended September 30, 2017 , the Company incurred franchise fee expense of approximately $18.6 million and $53.6 million , respectively.

Equity

Equity	9 Months Ended
	Sep. 30, 2018
Equity [Abstract]
Equity	Equity Common Shares of Beneficial Interest In 2015, the Company's board of trustees authorized a share repurchase program to acquire up to $400.0 million of the Common Shares through December 31, 2016. On February 17, 2017, the Company's board of trustees increased the authorized amount that may be repurchased by $40.0 million to a total of $440.0 million . On February 16, 2018, the Company's board of trustees extended the duration of the share repurchase program to February 28, 2019. During the nine months ended September 30, 2018 , the Company did not repurchase and retire any of its Common Shares under the share repurchase program. As of September 30, 2018 , the share repurchase program had a remaining capacity of $198.9 million . During the nine months ended September 30, 2017, the Company repurchased and retired 122,508 Common Shares for approximately $2.6 million . As a result of the REIT Merger, on August 31, 2017, the Company issued 50.4 million Common Shares at a price of $20.18 per share to former FelCor common stockholders as consideration in the REIT Merger. During the nine months ended September 30, 2018 , the Company declared a cash dividend of $0.33 per Common Share in each of the first, second, and third quarters of 2018. During the nine months ended September 30, 2017, the Company declared a cash dividend of $0.33 per Common Share in each of the first, second, and third quarters of 2017. Series A Preferred Shares On August 31, 2017, the Company designated and authorized the issuance of up to 12,950,000 $1.95 Series A Preferred Shares. The Company issued 12,879,475 Series A Preferred Shares, at a price of $28.49 per share, to former FelCor preferred stockholders as consideration in the REIT Merger. The holders of the Series A Preferred Shares are entitled to receive dividends that are payable in cash in an amount equal to the greater of (i) $1.95 per annum or (ii) the cash distributions declared or paid for the corresponding period on the number of Common Shares into which a Series A Preferred Share is then convertible. During the nine months ended September 30, 2018 , the Company declared a cash dividend of $0.4875 on each Series A Preferred Share in each of the first, second, and third quarters of 2018. During the nine months ended September 30, 2017, the Company declared a cash dividend of $0.4875 on each Series A Preferred Share in the third quarter of 2017. Noncontrolling Interest The Company consolidates the Operating Partnership, which is a majority-owned limited partnership that has a noncontrolling interest. The outstanding OP Units held by the limited partners are redeemable for cash, or at the option of the Company, for a like number of Common Shares. As a result of the Partnership Merger, the Operating Partnership issued 215,152 OP units at a price of $20.18 per unit, to former FelCor LP limited partners as consideration in the Partnership Merger. As of September 30, 2018, 773,902 outstanding OP Units are held by the limited partners. The noncontrolling interest is included in the noncontrolling interest in the Operating Partnership on the consolidated balance sheets. Consolidated Joint Venture Preferred Equity The Company's joint venture that redeveloped The Knickerbocker raised $45.0 million ( $44.4 million net of issuance costs) through the sale of redeemable preferred equity under the EB-5 Immigrant Investor Program. The purchasers receive a 3.25% current annual return (which increases to 8% if the Company does not redeem the equity interest before the fifth anniversary of the respective equity issuance), plus a 0.25% non-compounding annual return payable at redemption. The fifth anniversary for the majority of the equity issuance is in February 2019. The preferred equity raised by the joint venture is included in preferred equity in a consolidated joint venture on the consolidated balance sheets.

Equity Incentive Plan

Equity Incentive Plan	9 Months Ended
	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity Incentive Plan	Equity Incentive Plan The Company may issue share-based awards to officers, employees, non-employee trustees and other eligible persons under the RLJ Lodging Trust 2015 Equity Incentive Plan (the "2015 Plan"). The 2015 Plan provides for a maximum of 7,500,000 Common Shares to be issued in the form of share options, share appreciation rights, restricted share awards, unrestricted share awards, share units, dividend equivalent rights, long-term incentive units, other equity-based awards and cash bonus awards. Share Awards From time to time, the Company may award unvested restricted shares under the 2015 Plan as compensation to officers, employees and non-employee trustees. The issued shares vest over a period of time as determined by the board of trustees at the date of grant. The Company recognizes compensation expense for time-based unvested restricted shares on a straight-line basis over the vesting period based upon the fair market value of the shares on the date of issuance, adjusted for forfeitures. Non-employee trustees may also elect to receive unrestricted shares under the 2015 Plan as compensation that would otherwise be paid in cash for their services. The shares issued to non-employee trustees in lieu of cash compensation are unrestricted and include no vesting conditions. The Company recognizes compensation expense for the unrestricted shares issued in lieu of cash compensation on the date of issuance based upon the fair market value of the shares on that date. A summary of the unvested restricted shares as of September 30, 2018 is as follows: 2018 Number of Weighted-Average Unvested at January 1, 2018 700,325 $ 22.88 Granted 591,851 21.42 Vested (348,580 ) 23.22 Forfeited (113,325 ) 21.58 Unvested at September 30, 2018 830,271 $ 21.87 For the three and nine months ended September 30, 2018 , the Company recognized approximately $3.8 million and $8.1 million , respectively, of share-based compensation expense related to restricted share awards, which includes the accelerated vesting of restricted share awards as a result of the Company's President and Chief Executive Officer retiring in August 2018. For the three and nine months ended September 30, 2017 , the Company recognized approximately $2.0 million and $6.7 million , respectively, of share-based compensation expense related to restricted share awards. As of September 30, 2018 , there was $15.9 million of total unrecognized compensation costs related to unvested restricted share awards and these costs are expected to be recognized over a weighted-average period of 2.5 years. The total fair value of the shares vested (calculated as the number of shares multiplied by the vesting date share price) during the nine months ended September 30, 2018 and 2017 was approximately $7.7 million and $5.7 million , respectively. Performance Units In February 2017, the Company awarded 259,000 performance units with a grant date fair value of $14.93 per unit to certain employees. The performance units vest over a four -year period, including three years of performance-based vesting plus an additional one year of time-based vesting. In February 2018, the Company awarded 264,000 performance units with a grant date fair value of $13.99 per unit to certain employees. The performance units vest over a four -year period, including three years of performance-based vesting (the "2018 performance units measurement period") plus an additional one year of time-based vesting. These performance units may convert into restricted shares at a range of 25% to 150% of the number of performance units granted contingent upon the Company achieving an absolute total shareholder return and a relative total shareholder return over the measurement period at specified percentiles of the peer group, as defined by the award. If at the end of the 2018 performance units measurement period the target criterion is met, then 50% of the restricted shares will vest immediately. The remaining 50% will vest one year later. The award recipients will not be entitled to receive any dividends prior to the date of conversion. For any restricted shares issued upon conversion, the award recipient will be entitled to receive payment of an amount equal to all dividends that would have been paid if such restricted shares had been issued at the beginning of the 2018 performance units measurement period. The fair value of the performance units is determined using a Monte Carlo simulation with the following assumptions: a risk-free interest rate of 2.42% , volatility of 27.44% , and an expected term equal to the requisite service period for the awards. The Company estimated the compensation expense for the performance units on a straight-line basis using a calculation that recognizes 50% of the grant date fair value over three years and 50% of the grant date fair value over four years . For the three and nine months ended September 30, 2018 , the Company recognized approximately $0.2 million and $1.6 million , respectively, of share-based compensation expense related to the performance unit awards. For the three and nine months ended September 30, 2017 , the Company recognized approximately $0.5 million and $1.3 million , respectively, of share-based compensation expense related to the performance unit awards. As of September 30, 2018 , there was $3.8 million of total unrecognized compensation costs related to the performance unit awards and these costs are expected to be recognized over a weighted-average period of 2.3 years. As of September 30, 2018 , there were 2,981,978 Common Shares available for future grant under the 2015 Plan.

Earnings per Common Share

Earnings per Common Share	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Earnings per Common Share	Earnings per Common Share Basic earnings per Common Share is calculated by dividing net income attributable to common shareholders by the weighted-average number of Common Shares outstanding during the period excluding the weighted-average number of unvested restricted shares outstanding during the period. Diluted earnings per Common Share is calculated by dividing net income attributable to common shareholders by the weighted-average number of Common Shares outstanding during the period, plus any shares that could potentially be outstanding during the period. The potential shares consist of the unvested restricted share grants and unvested performance units, calculated using the treasury stock method. Any anti-dilutive shares have been excluded from the diluted earnings per share calculation. Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating shares and are considered in the computation of earnings per share pursuant to the two-class method. If there were any undistributed earnings allocable to the participating shares, they would be deducted from net income attributable to common shareholders used in the basic and diluted earnings per share calculations. The limited partners’ outstanding OP Units (which may be redeemed for Common Shares under certain circumstances) have been excluded from the diluted earnings per share calculation as there was no effect on the amounts for the three and nine months ended September 30, 2018 and 2017 , since the limited partners’ share of income would also be added back to net income attributable to common shareholders. The computation of basic and diluted earnings per Common Share is as follows (in thousands, except share and per share data): For the three months ended September 30, For the nine months ended September 30, 2018 2017 2018 2017 Numerator: Net income attributable to RLJ $ 73,975 $ 3,914 $ 161,378 $ 67,918 Less: Preferred dividends (6,279 ) (2,093 ) (18,836 ) (2,093 ) Less: Dividends paid on unvested restricted shares (274 ) (243 ) (937 ) (798 ) Less: Undistributed earnings attributable to unvested restricted shares (46 ) — — — Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares $ 67,376 $ 1,578 $ 141,605 $ 65,027 Denominator: Weighted-average number of Common Shares - basic 174,326,198 140,249,961 174,253,393 129,317,120 Unvested restricted shares 129,075 57,308 109,523 82,057 Unvested performance units 24,068 — 2,185 — Weighted-average number of Common Shares - diluted 174,479,341 140,307,269 174,365,101 129,399,177 Net income per share attributable to common shareholders - basic $ 0.39 $ 0.01 $ 0.81 $ 0.50 Net income per share attributable to common shareholders - diluted $ 0.39 $ 0.01 $ 0.81 $ 0.50

Supplemental Information to Sta

Supplemental Information to Statements of Cash Flows	9 Months Ended
	Sep. 30, 2018
Supplemental Cash Flow Elements [Abstract]
Supplemental Information to Statements of Cash Flows	Supplemental Information to Statements of Cash Flows (in thousands) For the nine months ended September 30, 2018 2017 Reconciliation of cash, cash equivalents, and restricted cash reserves Cash and cash equivalents $ 425,384 $ 421,181 Restricted cash reserves 78,113 78,343 Cash, cash equivalents, and restricted cash reserves $ 503,497 $ 499,524 Interest paid $ 84,377 $ 34,170 Income taxes paid $ 1,902 $ 1,107 Supplemental investing and financing transactions In conjunction with the sale of hotel properties, the Company recorded the following: Sale of hotel properties $ 456,600 $ — Transaction costs (8,432 ) (49 ) Operating prorations (431 ) — Proceeds from the sale of hotel properties, net $ 447,737 $ (49 ) Supplemental non-cash transactions (1) Accrued capital expenditures $ 5,879 $ 5,465 (1) Refer to Note 3, Merger with FelCor Lodging Trust Incorporated, for information related to the non-cash investing and financing activities associated with the acquisition of FelCor.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The unaudited consolidated financial statements and related notes have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America ("GAAP") and in conformity with the rules and regulations of the Securities and Exchange Commission ("SEC") applicable to financial information. The unaudited financial statements include all adjustments that are necessary, in the opinion of management, to fairly state the consolidated balance sheets, statements of operations and comprehensive income, statements of changes in equity and statements of cash flows. The unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto as of and for the year ended December 31, 2017 , included in the Company's Annual Report on Form 10-K filed with the SEC on February 28, 2018. The consolidated financial statements include the accounts of the Company, the Operating Partnership and its wholly-owned subsidiaries, and joint ventures in which the Company has a majority voting interest and control. For the controlled subsidiaries that are not wholly-owned, the third-party ownership interest represents a noncontrolling interest, which is presented separately in the consolidated financial statements. The Company also records the real estate interests in two joint ventures in which it holds an indirect 50% interest using the equity method of accounting. All intercompany balances and transactions have been eliminated in consolidation.
Reclassifications	Reclassifications Certain prior year amounts in these financial statements have been reclassified to conform to the current year presentation with no impact to net income and comprehensive income, shareholders’ equity or cash flows.
Use of Estimates	Use of Estimates The preparation of the Company’s financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of certain assets and liabilities and the amounts of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Revenue Recognition, Policy [Policy Text Block]	Revenue In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers , which supersedes or replaces nearly all GAAP revenue recognition guidance. The guidance establishes a new control-based revenue recognition model that changes the basis for deciding when revenue is recognized over time or at a point in time and expands the disclosures about revenue. The guidance also applies to sales of real estate and the new principles-based approach is largely based on the transfer of control of the real estate to the buyer. The Company adopted this standard on January 1, 2018 using the modified retrospective transition method. Accordingly, the Company's revenue beginning on January 1, 2018 is presented under ASC 606, while prior period revenue is reported under the accounting standards in effect for those historical periods. Based on the Company's assessment, the adoption of this standard did not have an impact to the Company's consolidated financial statements but it did result in additional disclosures in the notes to the consolidated financial statements. Refer to Note 7, Revenue , for the Company's disclosures about revenue. Substantially all of the Company's revenues are derived from the operation of hotel properties. The Company generates room revenue by renting hotel rooms to customers at its hotel properties. The Company generates food and beverage revenue from the sale of food and beverage to customers at its hotel properties. The Company generates other revenue from parking fees, golf, pool and other resort fees, gift shop sales and other guest service fees at its hotel properties. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. A contract's transaction price is allocated to each distinct performance obligation and recognized as revenue when the performance obligation is satisfied. The Company's contracts generally have a single performance obligation, such as renting a hotel room to a customer, or providing food and beverage to a customer, or providing a hotel property-related good or service to a customer. The Company's performance obligations are generally satisfied at a point in time. The Company allocates revenue to each performance obligation based on its relative standalone selling price. The Company determines the standalone selling price based on the price it charges each customer for the use or consumption of the promised good or service. The Company's revenue is recognized when control of the promised good or service is transferred to the customer, in an amount that reflects the consideration the Company expects to receive in exchange for the promised good or service. The revenue is recorded net of any sales and occupancy taxes collected from the customer. All rebates or discounts are recorded as a reduction to revenue, and there are no material contingent obligations with respect to rebates and discounts offered by the hotel properties. The timing of revenue recognition, billings, and cash collections results in the Company recognizing hotel and other receivables and advance deposits and deferred revenue on the consolidated balance sheet. Hotel and other receivables are recognized when the Company has provided a good or service to the customer but is only waiting for the passage of time before the customer submits consideration to the Company. Advance deposits and deferred revenue are recognized on the consolidated balance sheets when cash payments are received in advance of the Company satisfying its performance obligation. Advance deposits and deferred revenue consist of amounts that are refundable and non-refundable to the customer. The advance deposits and deferred revenue are recognized as revenue in the consolidated statements of operations and comprehensive income when the Company satisfies its performance obligation to the customer. For the majority of its goods or services and customers, the Company requires payment at the time the respective good or service is provided to the customer. The Company's payment terms vary by the type of customer and the goods or services offered to the customer. The Company applied a practical expedient to not disclose the value of unsatisfied performance obligations for contracts that have an original expected length of one year or less. Any contracts that have an original expected length of greater than one year are insignificant. An allowance for doubtful accounts is the Company's best estimate of the amount of probable credit losses in the existing accounts receivable portfolio and increases to the allowance for doubtful accounts are recorded as bad debt expense. The allowance for doubtful accounts is calculated as a percentage of the aged accounts receivable.
Investment in Real Estate Properties [Policy Text Block]	Investment in Hotel Properties The Company’s acquisitions generally consist of land, land improvements, buildings, building improvements, furniture, fixtures and equipment ("FF&E"), and inventory. The Company may also acquire intangible assets or liabilities related to in-place leases, management agreements, franchise agreements and advanced bookings. The Company allocates the purchase price among the assets acquired and the liabilities assumed based on their respective fair values at the date of acquisition. The Company determines the fair value by using market data and independent appraisals available to us and making numerous estimates and assumptions. Transaction costs are expensed for acquisitions that are considered business combinations and capitalized for asset acquisitions. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business . The guidance clarifies the definition of a business by adding guidance to assist companies and other reporting organizations with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. If substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single asset or a group of similar identifiable asset(s), then the transaction is considered to be an asset acquisition (or disposition). As a result of this standard, the Company anticipates the majority of its hotel purchases will be considered asset acquisitions as opposed to business combinations, although the determination will be made on a transaction-by-transaction basis. Transaction costs associated with asset acquisitions will be capitalized rather than expensed as incurred. The Company adopted this guidance on January 1, 2018 on a prospective basis. The Company does not believe the accounting for each future acquisition (or disposal) of assets or a business will be materially different, therefore, the adoption of this guidance is not expected to have a material impact on the Company's consolidated financial statements. The Company’s investments in hotel properties are carried at cost and are depreciated using the straight-line method over the estimated useful lives of 15 years for land improvements, 15 years for building improvements, 40 years for buildings and three to five years for FF&E. Maintenance and repairs are expensed and major renewals or improvements to the hotel properties are capitalized. Indirect project costs, including interest, salaries and benefits, travel and other related costs that are directly attributable to the development, are also capitalized. Upon the sale or disposition of a hotel property, the asset and related accumulated depreciation accounts are removed and the related gain or loss is included in the gain or loss on sale of hotel properties in the consolidated statements of operations and comprehensive income. A sale or disposition of a hotel property that represents a strategic shift that has or will have a major effect on the Company's operations and financial results is presented as discontinued operations in the consolidated statements of operations and comprehensive income. In accordance with the guidance on impairment or disposal of long-lived assets, the Company does not consider the "held for sale" classification on the consolidated balance sheet until it is probable that the sale will be completed within one year and the other requisite criteria for such classification have been met. The Company does not depreciate assets so long as they are classified as held for sale. Upon designation as held for sale and quarterly thereafter, the Company reviews the realizability of the carrying value, less costs to sell, in accordance with the guidance. Any such adjustment to the carrying value is recorded as an impairment loss. The Company assesses the carrying value of its hotel properties whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. The recoverability is measured by comparing the carrying amount to the estimated future undiscounted cash flows which take into account current market conditions and the Company’s intent with respect to holding or disposing of the hotel properties. If the Company’s analysis indicates that the carrying value is not recoverable on an undiscounted cash flow basis, the Company will recognize an impairment loss for the amount by which the carrying value exceeds the fair value. The fair value is determined through various valuation techniques, including internally developed discounted cash flow models, comparable market transactions or third-party appraisals. Sale of Real Estate ASU 2014-09 also applies to the sale of real estate and the new principles-based approach is largely based on the transfer of control of the real estate to the buyer. In February 2017, the FASB issued ASU 2017-05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets . This guidance clarifies that ASC 610-20 applies to the derecognition of nonfinancial assets, including real estate, and in substance nonfinancial assets, which are defined as assets or a group of assets for which substantially all of the fair value consists of nonfinancial assets and the group or subsidiary is not a business. As a result of this guidance, sales and partial sales of real estate assets will be accounted for similar to all other sales of nonfinancial and in substance nonfinancial assets. The Company adopted this guidance on January 1, 2018 using the modified retrospective transition method. Based on the Company's assessment, the adoption of this guidance did not have an impact on the Company's consolidated financial statements.
Share-Based Compensation	Share Awards From time to time, the Company may award unvested restricted shares under the 2015 Plan as compensation to officers, employees and non-employee trustees. The issued shares vest over a period of time as determined by the board of trustees at the date of grant. The Company recognizes compensation expense for time-based unvested restricted shares on a straight-line basis over the vesting period based upon the fair market value of the shares on the date of issuance, adjusted for forfeitures. Non-employee trustees may also elect to receive unrestricted shares under the 2015 Plan as compensation that would otherwise be paid in cash for their services. The shares issued to non-employee trustees in lieu of cash compensation are unrestricted and include no vesting conditions. The Company recognizes compensation expense for the unrestricted shares issued in lieu of cash compensation on the date of issuance based upon the fair market value of the shares on that date.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) . The guidance will require lessees to recognize a right-of-use asset and a lease liability for most of their leases on the balance sheet, and an entity will need to classify its leases as either an operating or finance lease in order to determine the income statement presentation. Leases with a term of 12 months or less will be accounted for similar to the existing guidance today for operating leases. Lessors will classify their leases using an approach that is substantially equivalent to the existing guidance today for operating, direct financing, or sales-type leases. Lessors may only capitalize the incremental direct costs of leasing, so any indirect costs of leasing will be expensed as incurred. The guidance requires an entity to separate the lease components from the non-lease components in a contract, with the lease components being accounted for in accordance with ASC 842 and the non-lease components being accounted for in accordance with other applicable accounting guidance. The guidance is effective for annual reporting periods beginning after December 15, 2018, and the interim periods within those annual periods, with early adoption permitted. The Company will adopt this new standard on January 1, 2019. The Company has not yet completed its analysis on this standard, but it believes the application of the new standard will result in the recording of a right-of-use asset and a lease liability on the consolidated balance sheet for each of its ground leases, parking leases, and equipment leases, which represent the majority of the Company's current operating lease payments. The Company does not expect the adoption of this standard will materially affect its consolidated statements of operations and comprehensive income. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . The guidance amends the hedge accounting recognition and presentation requirements in ASC 815. The guidance is meant to simplify the application of hedge accounting and better align the financial reporting for hedging activities with the entity's economic and risk management activities. Under the new guidance, all changes in the fair value of highly effective cash flow hedges will be recorded in other comprehensive income and they will be reclassified to earnings when the hedged item impacts earnings. The guidance is effective for annual reporting periods beginning after December 15, 2018, and the interim periods within those annual periods, with early adoption permitted. The Company will adopt this new standard on January 1, 2019. Based on the Company's assessment, the adoption of this standard is not expected to have a material impact on the Company's consolidated financial statements. 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 will adopt 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 will not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement . The guidance modifies the disclosure requirements for fair value measurements by removing or modifying some of the disclosures, while also adding new disclosures. The guidance is effective for annual reporting periods beginning after December 15, 2019, and the interim periods within those annual periods, with early adoption permitted. The Company will adopt this new standard on January 1, 2020. Based on the Company's assessment, the adoption of this standard is not expected to have a material impact on the Company's consolidated financial statements.
Management Agreements	Management Agreements As of September 30, 2018 , 151 of the Company's hotel properties were operated pursuant to long-term management agreements with initial terms ranging from 3 to 25 years. This number includes 42 hotel properties that receive the benefits of a franchise agreement pursuant to management agreements with Hilton, Hyatt, Marriott, Wyndham, and other hotel brands. Each management company receives a base management fee generally between 3.0% and 3.5% of hotel revenues. Management agreements that include the benefits of a franchise agreement incur a base management fee generally between 2.0% and 7.0% of hotel revenues. The management companies are also eligible to receive an incentive management fee if hotel operating income, as defined in the management agreements, exceeds certain thresholds. The incentive management fee is generally calculated as a percentage of hotel operating income after the Company has received a priority return on its investment in the hotel. Management fees are included in management and franchise fee expense in the accompanying consolidated statements of operations and comprehensive income.
Franchise Agreements	Franchise Agreements As of September 30, 2018 , 108 of the Company’s hotel properties were operated under franchise agreements with initial terms ranging from 10 to 30 years. This number excludes 42 hotel properties that receive the benefits of a franchise agreement pursuant to management agreements with Hilton, Hyatt, Marriott, Wyndham, and other hotel brands. In addition, The Knickerbocker is not operated with a hotel brand so the hotel does not have a franchise agreement. Franchise agreements allow the hotel properties to operate under the respective brands. Pursuant to the franchise agreements, the Company pays a royalty fee, generally between 4.0% and 6.0% of room revenue, plus additional fees for marketing, central reservation systems and other franchisor costs generally between 1.0% and 4.3% of room revenue. Certain hotels are also charged a royalty fee of generally 3.0% of food and beverage revenues. Franchise fees are included in management and franchise fee expense in the accompanying consolidated statements of operations and comprehensive income.
Earnings Per Share	Basic earnings per Common Share is calculated by dividing net income attributable to common shareholders by the weighted-average number of Common Shares outstanding during the period excluding the weighted-average number of unvested restricted shares outstanding during the period. Diluted earnings per Common Share is calculated by dividing net income attributable to common shareholders by the weighted-average number of Common Shares outstanding during the period, plus any shares that could potentially be outstanding during the period. The potential shares consist of the unvested restricted share grants and unvested performance units, calculated using the treasury stock method. Any anti-dilutive shares have been excluded from the diluted earnings per share calculation. Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating shares and are considered in the computation of earnings per share pursuant to the two-class method. If there were any undistributed earnings allocable to the participating shares, they would be deducted from net income attributable to common shareholders used in the basic and diluted earnings per share calculations. The limited partners’ outstanding OP Units (which may be redeemed for Common Shares under certain circumstances) have been excluded from the diluted earnings per share calculation as there was no effect on the amounts for the three and nine months ended September 30, 2018 and 2017 , since the limited partners’ share of income would also be added back to net income attributable to common shareholders.

Merger with FelCor Lodging Tr_2

Merger with FelCor Lodging Trust Incorporated (Tables)	9 Months Ended
	Sep. 30, 2018
Business Combinations [Abstract]
Schedule of Business Acquisitions by Acquisition, Equity Interest Issued or Issuable [Table Text Block]	The total consideration consisted of the following (in thousands): Total Consideration Common Shares $ 1,016,227 Series A Preferred Shares 366,936 OP Units 4,342 Cash, net of cash, cash equivalents, and restricted cash reserves acquired 24,883 Total consideration $ 1,412,388
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	The total consideration consisted of the following (in thousands): Total Consideration Common Shares $ 1,016,227 Series A Preferred Shares 366,936 OP Units 4,342 Cash, net of cash, cash equivalents, and restricted cash reserves acquired 24,883 Total consideration $ 1,412,388
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	The Company allocated the purchase price consideration as follows (in thousands): August 31, 2017 Investment in hotel properties $ 2,661,114 Investment in unconsolidated joint ventures 25,651 Hotel and other receivables 28,308 Deferred income tax assets 58,170 Intangible assets 139,673 Prepaid expenses and other assets 23,811 Debt (1,305,337 ) Accounts payable and other liabilities (118,360 ) Advance deposits and deferred revenue (23,795 ) Accrued interest (22,612 ) Distributions payable (4,312 ) Noncontrolling interest in consolidated joint ventures (5,493 ) Preferred equity in a consolidated joint venture (44,430 ) Total consideration $ 1,412,388
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	The Company recognized the following intangible assets in the Mergers (dollars in thousands): Weighted Average Amortization Period (in Years) Below market ground leases $ 118,050 54 Advanced bookings 13,862 1 Other intangible assets 7,761 6 Total intangible assets $ 139,673 46
Schedule revenue and net income on acquisition [Table Text Block]	For the hotel properties acquired during the nine months ended September 30, 2017, the total revenues and net income from the date of acquisition through September 30, 2017 are included in the accompanying consolidated statements of operations as follows (in thousands): For the one month ended September 30, 2017 Revenue $ 66,457 Net income $ 6,768
Business Acquisition, Transaction costs [Table Text Block]	The following table presents the costs that were incurred in connection with the Mergers (in thousands): For the three months ended September 30, For the nine months ended September 30, 2018 2017 2018 2017 Transaction costs $ 86 $ 30,270 $ (527 ) $ 34,517 Integration costs 156 2,193 1,881 2,193 $ 242 $ 32,463 $ 1,354 $ 36,710
Business Acquisition, Pro Forma Information [Table Text Block]	The unaudited condensed pro forma financial information is as follows (in thousands): For the three months ended September 30, 2017 For the nine months ended September 30, 2017 (unaudited) Revenue $ 482,839 $ 1,431,409 Net income attributable to common shareholders $ 35,275 $ 104,528 Net income per share attributable to common shareholders - basic $ 0.20 $ 0.60 Net income per share attributable to common shareholders - diluted $ 0.20 $ 0.60 Weighted-average number of shares outstanding - basic 174,186,944 174,141,367 Weighted-average number of shares outstanding - diluted 174,244,252 174,223,424

Investment in Hotel Properties

Investment in Hotel Properties (Tables)	9 Months Ended
	Sep. 30, 2018
Property, Plant and Equipment [Abstract]
Disclosure of Long Lived Assets Held-for-sale	The following table is a summary of the major classes of assets held for sale (in thousands): September 30, 2018 Land and improvements $ 12,203 Buildings and improvements 10,900 Furniture, fixtures and equipment 2,074 Total investment in hotel properties, net 25,177 Intangible assets 272 Total assets of hotel properties held for sale, net $ 25,449
Schedule of investment in hotel properties	Investment in hotel properties consisted of the following (in thousands): September 30, 2018 December 31, 2017 Land and improvements $ 1,208,365 $ 1,275,030 Buildings and improvements 4,660,962 4,890,266 Furniture, fixtures and equipment 785,418 756,546 6,654,745 6,921,842 Accumulated depreciation (1,281,574 ) (1,129,917 ) Investment in hotel properties, net $ 5,373,171 $ 5,791,925

Investment in Unconsolidated _2

Investment in Unconsolidated Joint Ventures (Tables)	9 Months Ended
	Sep. 30, 2018
Schedule of components of investments in unconsolidated joint ventures [Abstract]
Schedule of Components of Investment In Unconsolidated Entities [Table Text Block]	The following table summarizes the components of the Company's investments in unconsolidated joint ventures (in thousands): September 30, 2018 December 31, 2017 Equity basis of the joint venture investments $ (58 ) $ 253 Cost of the joint venture investments in excess of the joint venture book value 22,530 23,632 Investment in unconsolidated joint ventures $ 22,472 $ 23,885
Schedule of Components of Equity In Income (Loss) from Unconsolidated Entities [Table Text Block]	The following table summarizes the components of the Company's equity in income from unconsolidated joint ventures (in thousands): For the three months ended September 30, For the nine months ended September 30, 2018 2017 2018 2017 Unconsolidated joint ventures net income attributable to the Company $ 587 $ 150 $ 1,739 $ 150 Depreciation of cost in excess of book value (368 ) (93 ) (1,102 ) (93 ) Equity in income from unconsolidated joint ventures $ 219 $ 57 $ 637 $ 57

Sale of Hotel Properties (Table

Sale of Hotel Properties (Tables)	9 Months Ended
	Sep. 30, 2018
Discontinued Operations and Disposal Groups [Abstract]
Schedule of property disposed during period	The following table discloses the hotel properties that were sold during the nine months ended September 30, 2018 : Hotel Property Name Location Sale Date Rooms Embassy Suites Boston Marlborough Marlborough, MA February 21, 2018 229 Sheraton Philadelphia Society Hill Hotel Philadelphia, PA March 27, 2018 364 Embassy Suites Napa Valley Napa, CA July 13, 2018 205 DoubleTree Hotel Columbia Columbia, MD August 7, 2018 152 The Vinoy Renaissance St. Petersburg Resort & Golf Club St. Petersburg, FL August 28, 2018 362 DoubleTree by Hilton Burlington Vermont Burlington, VT September 27, 2018 309 Total 1,621

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	The Company recognized revenue from the following geographic markets (in thousands): For the three months ended September 30, 2018 For the three months ended September 30, 2017 Room Revenue Food and Beverage Revenue Other Revenue Total Revenue Room Revenue Food and Beverage Revenue Other Revenue Total Revenue Northern California $ 67,161 $ 4,705 $ 2,238 $ 74,104 $ 39,998 $ 2,808 $ 1,064 $ 43,870 Southern California 36,820 4,189 2,612 43,621 21,268 2,293 1,130 24,691 New York City 34,935 4,093 1,164 40,192 26,987 2,158 800 29,945 South Florida 24,678 4,426 1,773 30,877 18,186 2,966 992 22,144 Chicago 21,935 3,457 577 25,969 20,553 3,648 473 24,674 Denver 21,503 3,186 372 25,061 22,432 3,330 428 26,190 Austin 17,399 2,058 865 20,322 17,356 2,103 688 20,147 Houston 14,041 853 1,150 16,044 13,549 617 741 14,907 Washington, DC 15,570 487 614 16,671 16,511 814 675 18,000 Louisville 8,233 3,361 468 12,062 9,935 2,215 566 12,716 Other 114,962 16,396 10,761 142,119 85,271 12,628 6,072 103,971 Total $ 377,237 $ 47,211 $ 22,594 $ 447,042 $ 292,046 $ 35,580 $ 13,629 $ 341,255 For the nine months ended September 30, 2018 For the nine months ended September 30, 2017 Room Revenue Food and Beverage Revenue Other Revenue Total Revenue Room Revenue Food and Beverage Revenue Other Revenue Total Revenue Northern California $ 184,087 $ 15,586 $ 6,120 $ 205,793 $ 86,288 $ 5,126 $ 2,168 $ 93,582 South Florida 102,940 15,413 5,470 123,823 64,933 9,871 3,297 78,101 Southern California 100,838 12,545 6,688 120,071 48,326 4,654 2,039 55,019 New York City 93,612 11,722 3,106 108,440 62,678 4,353 1,995 69,026 Austin 63,968 7,035 2,696 73,699 59,469 6,723 1,941 68,133 Chicago 56,451 9,895 1,470 67,816 53,451 10,343 1,282 65,076 Denver 55,292 9,423 976 65,691 57,038 9,745 1,109 67,892 Washington, DC 51,577 2,047 1,785 55,409 52,664 2,410 1,831 56,905 Houston 47,469 2,803 3,199 53,471 41,339 2,080 2,197 45,616 Louisville 28,830 10,461 1,525 40,816 33,303 9,977 1,856 45,136 Other 353,051 60,920 32,327 446,298 211,262 26,110 11,913 249,285 Total $ 1,138,115 $ 157,850 $ 65,362 $ 1,361,327 $ 770,751 $ 91,392 $ 31,628 $ 893,771

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Schedule of Debt	The Company's debt consisted of the following (in thousands): September 30, 2018 December 31, 2017 Senior Notes $ 506,503 $ 1,062,716 Revolver and Term Loans, net 1,168,736 1,170,954 Mortgage loans, net 614,925 646,818 Debt, net $ 2,290,164 $ 2,880,488
Schedule of Revolver and Term Loans	The Company's unsecured credit agreements consisted of the following (in thousands): Outstanding Borrowings at Interest Rate at September 30, 2018 (1) Maturity Date September 30, 2018 December 31, 2017 Revolver (2) 3.76% April 2020 $ — $ — $400 Million Term Loan Maturing 2021 3.08% April 2021 400,000 400,000 $150 Million Term Loan Maturing 2022 3.08% January 2022 150,000 150,000 $400 Million Term Loan Maturing 2023 3.19% January 2023 400,000 400,000 $225 Million Term Loan Maturing 2023 3.44% January 2023 225,000 225,000 1,175,000 1,175,000 Deferred financing costs, net (3) (6,264 ) (4,046 ) Total Revolver and Term Loans, net $ 1,168,736 $ 1,170,954 (1) Interest rate at September 30, 2018 gives effect to interest rate hedges. (2) At both September 30, 2018 and December 31, 2017 , there was $600.0 million of borrowing capacity on the Revolver. The Company has the ability to further increase the borrowing capacity to $750.0 million , subject to certain lender requirements. (3) Excludes $1.7 million and $2.6 million as of September 30, 2018 and December 31, 2017 , respectively, related to deferred financing costs on the Revolver, which are included in prepaid expense and other assets in the accompanying consolidated balance sheets.
Schedule of mortgage loans	The Company's mortgage loans consisted of the following (in thousands): Principal balance at Lender Number of Assets Encumbered Interest Rate at September 30, 2018 (1) Maturity Date September 30, 2018 December 31, 2017 Wells Fargo (5) 4 4.05% March 2019 (3) $ 141,000 $ 143,250 Wells Fargo (2) 4 4.08% October 2019 (4) 150,000 150,000 PNC Bank (2) (6) 5 4.36% March 2021 (7) 85,000 85,000 Wells Fargo (8) 1 5.25% June 2022 32,269 32,882 PNC Bank/Wells Fargo (9) 3 4.95% October 2022 92,322 120,893 Prudential (10) 1 4.94% October 2022 29,758 30,323 Scotiabank (2) (11) 1 LIBOR + 3.00% November 2018 (12) 85,073 85,404 19 615,422 647,752 Deferred financing costs, net (497 ) (934 ) Total mortgage loans, net $ 614,925 $ 646,818 (1) Interest rate at September 30, 2018 gives effect to interest rate hedges. (2) Requires payments of interest only through maturity. (3) In March 2018, the Company extended the maturity date for a one-year term. The maturity date may be extended for three additional one -year terms at the Company’s option, subject to certain lender requirements. (4) In October 2018, the Company extended the maturity date for a one-year term. The maturity date may be extended for two additional one -year terms at the Company's option, subject to certain lender requirements. (5) Two of the four hotels encumbered by the Wells Fargo loan are cross-collateralized. (6) The five hotels encumbered by the PNC Bank loan are cross-collateralized. (7) The maturity date may be extended for two one -year terms at the Company’s option, subject to certain lender requirements. (8) Includes $0.7 million and $0.8 million at September 30, 2018 and December 31, 2017 , respectively, related to a fair value adjustment on the mortgage loan that was assumed in conjunction with an acquisition. (9) Includes $2.0 million and $3.0 million at September 30, 2018 and December 31, 2017 , respectively, related to fair value adjustments on the mortgage loans that were assumed in the Mergers. (10) Includes $0.6 million and $0.7 million at September 30, 2018 and December 31, 2017 , respectively, related to a fair value adjustment on the mortgage loan that was assumed in the Mergers. (11) Includes $0.1 million and $0.4 million at September 30, 2018 and December 31, 2017 , respectively, related to a fair value adjustment on the mortgage loan that was assumed in the Mergers.
Schedule of Interest Expense Components	The components of the Company's interest expense consisted of the following (in thousands): For the three months ended September 30, For the nine months ended September 30, 2018 2017 2018 2017 Senior Notes $ 5,954 $ 3,980 $ 22,485 $ 3,980 Revolver and Term Loans 11,042 9,834 33,428 28,981 Mortgage loans 6,753 4,943 20,171 12,969 Amortization of deferred financing costs 880 893 2,688 2,597 Total interest expense $ 24,629 $ 19,650 $ 78,772 $ 48,527
Schedule of Senior Notes [Table Text Block]	The Company's senior secured notes and the senior unsecured notes are collectively the "Senior Notes". The Company's Senior Notes consisted of the following (in thousands): Outstanding Borrowings at Number of Assets Encumbered Interest Rate Maturity Date September 30, 2018 December 31, 2017 Senior secured notes (1) (2) (3) 9 5.63% — $ — $ 552,669 Senior unsecured notes (1) (2) (4) — 6.00% June 2025 506,503 510,047 Total Senior Notes $ 506,503 $ 1,062,716 (1) Requires payments of interest only through maturity. (2) The senior secured notes include $28.7 million at December 31, 2017, and the senior unsecured notes include $31.5 million and $35.1 million at September 30, 2018 and December 31, 2017 , respectively, related to fair value adjustments on the Senior Notes that were assumed in the Mergers. (3) On March 9, 2018 (the "Redemption Date"), the Company completed the early redemption of the senior secured notes in full for an aggregate amount of approximately $539.0 million , which included the redemption price of 102.813% for the outstanding principal amount. The Company recognized a gain of approximately $7.7 million on the early redemption, which is included in gain (loss) on extinguishment of indebtedness, net in the accompanying consolidated statements of operations and comprehensive income. The gain on extinguishment of indebtedness excludes $5.1 million related to two hotel properties that were sold during the nine months ended September 30, 2018 that is included in gain (loss) on sale of hotel properties, net in the accompanying consolidated statement of operations and comprehensive income. (4) The Company has the option to redeem the senior unsecured notes beginning June 1, 2020 at a premium of 103.0% .

Derivatives and Hedging (Tables

Derivatives and Hedging (Tables)	9 Months Ended
	Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of interest rate swaps	The Company's interest rate swaps consisted of the following (in thousands): Notional value at Fair value at Hedge type Interest rate Maturity September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Swap-cash flow 1.56% March 2018 $ — $ 175,000 $ — $ (38 ) Swap-cash flow 1.64% March 2018 — 175,000 — (71 ) Swap-cash flow 1.83% September 2018 — 15,758 — (23 ) Swap-cash flow 1.75% September 2018 — 15,758 — (14 ) Swap-cash flow 1.83% September 2018 — 38,678 — (57 ) Swap-cash flow 1.75% September 2018 — 39,632 — (35 ) Swap-cash flow 1.83% September 2018 — 17,190 — (25 ) Swap-cash flow 1.75% September 2018 — 16,235 — (14 ) Swap-cash flow 2.02% March 2019 125,000 125,000 212 (383 ) Swap-cash flow 1.94% March 2019 100,000 100,000 207 (213 ) Swap-cash flow 1.27% March 2019 125,000 125,000 750 836 Swap-cash flow 1.96% March 2019 100,000 100,000 224 (230 ) Swap-cash flow 1.85% March 2019 50,000 50,000 142 (43 ) Swap-cash flow 1.81% March 2019 50,000 50,000 153 (19 ) Swap-cash flow 1.74% March 2019 25,000 25,000 86 13 Swap-cash flow 1.80% September 2020 33,000 33,000 589 202 Swap-cash flow 1.80% September 2020 82,000 82,000 1,463 502 Swap-cash flow 1.80% September 2020 35,000 35,000 624 214 Swap-cash flow 1.81% October 2020 143,000 143,000 2,958 803 Swap-cash flow 1.15% April 2021 100,000 100,000 4,346 2,880 Swap-cash flow 1.20% April 2021 100,000 100,000 4,217 2,726 Swap-cash flow 2.15% April 2021 75,000 75,000 1,323 (144 ) Swap-cash flow 1.91% April 2021 75,000 75,000 1,793 415 Swap-cash flow 1.61% June 2021 50,000 50,000 1,699 769 Swap-cash flow 1.56% June 2021 50,000 50,000 1,778 869 Swap-cash flow 1.71% June 2021 50,000 50,000 1,566 598 Swap-cash flow (1) 2.29% December 2022 200,000 200,000 4,849 (413 ) Swap-cash flow (1) 2.29% December 2022 125,000 125,000 3,054 (259 ) Swap-cash flow (1) 2.38% December 2022 200,000 — 4,180 — Swap-cash flow (1) 2.38% December 2022 100,000 — 2,102 — $ 1,993,000 $ 2,186,251 $ 38,315 $ 8,846 (1) Effective between the maturity of the existing swaps in March 2019 and December 2022.

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	The fair value of the Company's debt was as follows (in thousands): September 30, 2018 December 31, 2017 Carrying Value Fair Value Carrying Value Fair Value Senior Notes $ 506,503 $ 503,969 $ 1,062,716 $ 1,038,892 Revolver and Term Loans, net 1,168,736 1,175,000 1,170,954 1,179,052 Mortgage loans, net 614,925 613,712 646,818 643,078 Debt, net $ 2,290,164 $ 2,292,681 $ 2,880,488 $ 2,861,022
Schedule of fair value hierarchy for financial assets and liabilities measured at fair value on a recurring basis	The following table presents the Company’s fair value hierarchy for those financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2018 (in thousands): Fair Value at September 30, 2018 Level 1 Level 2 Level 3 Total Interest rate swap asset $ — $ 38,315 $ — $ 38,315 Interest rate swap liability — — — — Total $ — $ 38,315 $ — $ 38,315 The following table presents the Company’s fair value hierarchy for those financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2017 (in thousands): Fair Value at December 31, 2017 Level 1 Level 2 Level 3 Total Interest rate swap asset $ — $ 10,827 $ — $ 10,827 Interest rate swap liability — (1,981 ) — (1,981 ) Total $ — $ 8,846 $ — $ 8,846

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	9 Months Ended
	Sep. 30, 2018
Restricted share awards
Equity Incentive Plan
Summary of the unvested restricted shares	A summary of the unvested restricted shares as of September 30, 2018 is as follows: 2018 Number of Weighted-Average Unvested at January 1, 2018 700,325 $ 22.88 Granted 591,851 21.42 Vested (348,580 ) 23.22 Forfeited (113,325 ) 21.58 Unvested at September 30, 2018 830,271 $ 21.87

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted earnings per common share	The computation of basic and diluted earnings per Common Share is as follows (in thousands, except share and per share data): For the three months ended September 30, For the nine months ended September 30, 2018 2017 2018 2017 Numerator: Net income attributable to RLJ $ 73,975 $ 3,914 $ 161,378 $ 67,918 Less: Preferred dividends (6,279 ) (2,093 ) (18,836 ) (2,093 ) Less: Dividends paid on unvested restricted shares (274 ) (243 ) (937 ) (798 ) Less: Undistributed earnings attributable to unvested restricted shares (46 ) — — — Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares $ 67,376 $ 1,578 $ 141,605 $ 65,027 Denominator: Weighted-average number of Common Shares - basic 174,326,198 140,249,961 174,253,393 129,317,120 Unvested restricted shares 129,075 57,308 109,523 82,057 Unvested performance units 24,068 — 2,185 — Weighted-average number of Common Shares - diluted 174,479,341 140,307,269 174,365,101 129,399,177 Net income per share attributable to common shareholders - basic $ 0.39 $ 0.01 $ 0.81 $ 0.50 Net income per share attributable to common shareholders - diluted $ 0.39 $ 0.01 $ 0.81 $ 0.50

Supplemental Information to S_2

Supplemental Information to Statements of Cash Flows (Tables)	9 Months Ended
	Sep. 30, 2018
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental information to statements of cash flows	For the nine months ended September 30, 2018 2017 Reconciliation of cash, cash equivalents, and restricted cash reserves Cash and cash equivalents $ 425,384 $ 421,181 Restricted cash reserves 78,113 78,343 Cash, cash equivalents, and restricted cash reserves $ 503,497 $ 499,524 Interest paid $ 84,377 $ 34,170 Income taxes paid $ 1,902 $ 1,107 Supplemental investing and financing transactions In conjunction with the sale of hotel properties, the Company recorded the following: Sale of hotel properties $ 456,600 $ — Transaction costs (8,432 ) (49 ) Operating prorations (431 ) — Proceeds from the sale of hotel properties, net $ 447,737 $ (49 ) Supplemental non-cash transactions (1) Accrued capital expenditures $ 5,879 $ 5,465 (1) Refer to Note 3, Merger with FelCor Lodging Trust Incorporated, for information related to the non-cash investing and financing activities associated with the acquisition of FelCor.

Organization (Details)

Organization (Details)	9 Months Ended
	Sep. 30, 2018propertystateroomshares	Aug. 31, 2017Rooms
Sale of Stock
OP units outstanding (in units) | shares	175,989,104
Company's Ownership interest in OP units through a combination of direct and indirect interests (as a percent)	99.60%
Number of properties owned	152
Number of hotel rooms owned | room	29,400
Number of states in which hotels owned by the entity are located | state	25
Doubletree Metropolitan Hotel New York City (Joint Venture)
Sale of Stock
Hotel property ownership interest (as a percent)	98.30%
FelCor Lodging Trust [Member]
Sale of Stock
Number of hotel rooms owned | Rooms		11,215
Wholly Owned Properties [Member]
Sale of Stock
Number of properties owned	148
Hotel property ownership interest (as a percent)	100.00%
Consolidated Properties [Member]
Sale of Stock
Number of properties owned	150
Unconsolidated Properties [Member]
Sale of Stock
Number of properties owned	2
Hotel property ownership interest (as a percent)	50.00%
Leased Hotel Properties [Member]
Sale of Stock
Number of properties owned	151
Ninety Five Percent Owned [Member] | Partially Owned Properties [Member]
Sale of Stock
Hotel property ownership interest (as a percent)	95.00%
Fifty Percent Owned [Member] | Partially Owned Properties [Member]
Sale of Stock
Hotel property ownership interest (as a percent)	50.00%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ in Millions	Sep. 30, 2018USD ($)joint_venture	Dec. 31, 2017USD ($)
Summary of Significant Accounting Policies
Real Estate Interests, Number of Joint Ventures | joint_venture	2
Noncontrolling Interest
Equity Method Investment, Ownership Percentage	50.00%
Accounting Standards Update 2015-03 | Prepaid expenses and other assets
Summary of Significant Accounting Policies
Deferred financing costs | $	$ 1.7	$ 2.6

Merger with FelCor Lodging Tr_3

Merger with FelCor Lodging Trust Incorporated (Details)	Oct. 15, 2018USD ($)	Aug. 31, 2017USD ($)Rooms$ / sharesshares	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)room$ / shares	Sep. 30, 2017USD ($)$ / sharesshares	Sep. 30, 2018USD ($)room$ / shares	Sep. 30, 2017USD ($)$ / sharesshares	Dec. 31, 2017$ / shares
Business Acquisition [Line Items]
Business Combination, Revenue recognized during the period			$ 66,457,000
Business Acquisition, Pro Forma Revenue					$ 482,839,000		$ 1,431,409,000
Transaction costs in a business combination				$ 86,000	30,270,000	$ (527,000)	34,517,000
Off-market Lease, Unfavorable		$ 15,489,544
Number of Units in Real Estate Property | room				29,400		29,400
Common Stock, Par or Stated Value Per Share | $ / shares		$ 0.01		$ 0.01		$ 0.01		$ 0.01
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable		$ 4,342,000
Payments to Acquire Businesses, Net of Cash Acquired		$ 24,883,000
Preferred Stock, Par or Stated Value Per Share | $ / shares				$ 0.01		$ 0.01		0.01
Number of Businesses Acquired		37
Gross Proceeds from Sale of Real Estate Held-for-investment						$ 454,100,000
Business Combination, Consideration Transferred		$ 1,412,388,000
Below Market Lease, Gross		118,050,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life						46 years
Advanced Bookings		13,862,000
Other Intangible Assets, Gross		7,761,000
Total intangible assets		139,673,000
Business Combination, Net Income recognized during the period			$ 6,768,000
Integration costs in a business combination				$ 156,000	2,193,000	$ 1,881,000	2,193,000
Total merger-related costs of a business combination				$ 242,000	32,463,000	$ 1,354,000	36,710,000
Business Acquisition, Pro Forma Net Income (Loss)					$ 35,275,000		$ 104,528,000
Business Acquisition, Pro Forma Earnings Per Share, Basic | $ / shares					$ 0.20		$ 0.60
Business Acquisition, Pro Forma Earnings Per Share, Diluted | $ / shares					$ 0.20		$ 0.60
Weighted Average Basic Shares Outstanding, Pro Forma | shares					174,186,944		174,141,367
Pro Forma Weighted Average Shares Outstanding, Diluted | shares					174,244,252		174,223,424
Common Stock [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable		$ 1,016,227,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares		50,400,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Share Price | $ / shares		$ 20.18
Series A Cumulative Preferred Stock [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable		$ 366,936,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares		12,879,475
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Share Price | $ / shares		$ 28.49
Preferred Stock, Par or Stated Value Per Share | $ / shares				$ 0.01		$ 0.01		$ 0.01
Partnership Interest [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable		$ 4,342,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Share Price | $ / shares		$ 20.18
Business Acquisition, Common Units Issued or Issuable, Number of Units | shares		215,152
DoubleTree Suites by Hilton Austin [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		188
DoubleTree Suites by Hilton Orlando - Lake Buena Vista [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		229
Embassy Suites Atlanta Buckhead [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		316
Embassy Suites Birmingham [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		242
Embassy Suites Boston Marlborough [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		229
Embassy Suites Dallas Love Field [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		248
Embassy Suites Deerfield Beach [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		244
Embassy Suites Fort Lauderdale 17th Street [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		361
Embassy Suites Los Angeles International Airport South [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		349
Embassy Suites Mandalay Beach [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		250
Embassy Suites Miami International Airport [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		318
Embassy Suites Milpitas Silicon Valley [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		266
Embassy Suites Minneapolis Airport [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		310
Embassy Suites Myrtle Beach [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		255
Embassy Suites Napa Valley [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		205
Embassy Suites Orlando International Drive [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		244
Embassy Suites Phoenix Biltmore [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		232
Embassy Suites San Francisco Airport South San Francisco [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		312
Embassy Suites San Francisco Airport Waterfront [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		340
Embassy Suites Secaucus [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		50.00%
Number of Units in Real Estate Property | Rooms		261
Hilton Myrtle Beach Resort [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		385
Holiday Inn San Francisco Fisherman's Wharf [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		585
San Francisco Marriott Union Square [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		400
Sheraton Burlington Hotel & Conference Center [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		309
Sheraton Philadelphia Society Hill Hotel [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		364
Fairmont Copley Plaza [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		383
The Knickerbocker New York [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		95.00%
Number of Units in Real Estate Property | Rooms		330
Mills House Wyndham Grand Hotel [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		216
Vinoy Renaissance St. Petersburg Resort & Golf Club [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		361
Wyndham Boston Beacon Hill [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		304
Wyndham Houston Medical Center [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		287
Wyndham New Orleans French Quarter [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		374
Wyndham Philadelphia Historic District [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		364
Wyndham Pittsburgh University Center [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		251
Wyndham San Diego Bayside [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		600
Wyndham Santa Monica At The Pier [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		100.00%
Number of Units in Real Estate Property | Rooms		132
FelCor Lodging LP [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Real Estate Investment, Net		$ 2,661,114,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Equity Method Investments		25,651,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables		28,308,000
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets		58,170,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		139,673,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets		23,811,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt		(1,305,337,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts payable and other liabilities		(118,360,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Advance deposits and deferred revenue		(23,795,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accrued interest		(22,612,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Distributions payable		(4,312,000)
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling interest in consolidated joint ventures, at fair value		5,493,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Preferred equity in a consolidated joint venture		44,430,000
Debt Instrument, Fair Value Adjustment, Net		$ 71,700,000
FelCor Lodging Trust [Member]
Business Acquisition [Line Items]
Number of Units in Real Estate Property | Rooms		11,215
Chateau LeMoyne French Quarter, New Orleans [Member]
Business Acquisition [Line Items]
Real Estate Properties, Ownership Interest, Percentage		50.00%
Number of Units in Real Estate Property | Rooms		171
FelCor Lodging Trust [Member]
Business Acquisition [Line Items]
Common Stock, Par or Stated Value Per Share | $ / shares		$ 0.01
Common Stock, Conversion Basis							0.362
Preferred Stock, Dividend Rate, Per-Dollar-Amount | $ / shares							$ 1.95
Preferred Stock, Par or Stated Value Per Share | $ / shares		0.01
RLJ Lodging Trust [Member] | Series A Cumulative Preferred Stock [Member]
Business Acquisition [Line Items]
Preferred Stock, Dividend Rate, Per-Dollar-Amount | $ / shares							$ 1.95
Preferred Stock, Par or Stated Value Per Share | $ / shares		$ 0.01
Below market ground leases [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life						54 years
Other finite-lived intangible assets [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life						6 years
Advanced Bookings [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life						1 year
Vinoy Renaissance St. Petersburg Resort & Golf Club [Member]
Business Acquisition [Line Items]
Proceeds from Sale of Real Estate						$ 185,000,000
Sheraton Burlington Hotel & Conference Center [Member]
Business Acquisition [Line Items]
Proceeds from Sale of Real Estate						35,000,000
Embassy Suites Napa Valley [Member]
Business Acquisition [Line Items]
Proceeds from Sale of Real Estate						102,000,000
Embassy Suites Boston Marlborough [Member]
Business Acquisition [Line Items]
Proceeds from Sale of Real Estate						23,700,000
Fairmont Copley Plaza [Member]
Business Acquisition [Line Items]
Proceeds from Sale of Real Estate						170,000,000
Sheraton Philadelphia Society Hill Hotel [Member]
Business Acquisition [Line Items]
Proceeds from Sale of Real Estate						$ 95,500,000
Subsequent Event [Member] | Holiday Inn San Francisco Fisherman's Wharf [Member]
Business Acquisition [Line Items]
Proceeds from Sale of Real Estate	$ 75,300,000

Investment in Hotel Propertie_2

Investment in Hotel Properties (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Assets, Current	$ 25,449		$ 25,449		$ 0
Buildings and improvements	4,660,962		4,660,962		4,890,266
Land and improvements	1,208,365		1,208,365		1,275,030
Accumulated depreciation	(1,281,574)		(1,281,574)		(1,129,917)
Furniture, fixtures and equipment	785,418		785,418		756,546
Investment in hotel properties, gross	6,654,745		6,654,745		6,921,842
Investment in hotel properties, net	5,373,171		5,373,171		5,791,925
Intangible Assets, Net (Excluding Goodwill)	53,633		53,633		$ 133,211
Depreciation and amortization expense related to investment in hotel and other properties, excluding discontinued operations	(58,500)	$ (44,100)	(176,400)	$ (120,800)
Impairment loss	0	$ 0	0	$ 0
Gross Proceeds from Sale of Real Estate Held-for-investment			454,100
Discontinued Operations, Held-for-sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Assets, Current	25,449		25,449
Buildings and improvements	10,900		10,900
Land and improvements	12,203		12,203
Furniture, fixtures and equipment, net	2,074		2,074
Investment in hotel properties, net	25,177		25,177
Intangible Assets, Net (Excluding Goodwill)	$ 272		$ 272

Investment in Unconsolidated _3

Investment in Unconsolidated Joint Ventures (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)property	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)property	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	$ 219	$ 57	$ 637	$ 57
Equity Method Investments	$ 22,472		$ 22,472		$ 23,885
Equity Method Investment, Ownership Percentage	50.00%		50.00%
Number of Real Estate Properties | property	152		152
Unconsolidated Properties [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50.00%		50.00%
Number of Real Estate Properties | property	2		2
Equity Method Investments [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	$ 587	150	$ 1,739	150
Equity Method Investments	(58)		(58)		253
Cost in Excess of Book Value of Hotel Investments [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	(368)	$ (93)	(1,102)	$ (93)
Equity Method Investments	$ 22,530		$ 22,530		$ 23,632

Sale of Hotel Properties (Narra

Sale of Hotel Properties (Narrative) (Details)	Oct. 15, 2018USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)hotel	Sep. 30, 2017USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale of hotel properties, net		$ 35,895,000	$ (19,000)	$ 32,957,000	$ (49,000)
Hotel properties sold, Number | hotel				6
Disposal of hotel properties				$ 454,100,000
Payments for (Proceeds from) Investments				0	(12,792,000)
Gain (Loss) on Investments		0	2,670,000	0	2,670,000
Gain (Loss) on Extinguishment of Debt		$ (1,656,000)	$ 0	6,010,000	$ 0
Disposals 2018 [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale of hotel properties, net				30,944,567
Embassy Suites Boston Marlborough & Sheraton Philadelphia Society Hill [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (Loss) on Extinguishment of Debt				5,100,000
Embassy Suites Napa Valley [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Sale of Real Estate				102,000,000
Land [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale of hotel properties, net				1,362,331
Proceeds from Sale of Real Estate				$ 1,500,000
Subsequent Event [Member] | Holiday Inn San Francisco Fisherman's Wharf [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Sale of Real Estate	$ 75,300,000
Proceeds to RLJ on the Sale of Real Estate	$ 30,400,000

Sale of Hotel Properties (Sched

Sale of Hotel Properties (Schedule of Properties Disposed) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)room	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)room	Sep. 30, 2017USD ($)	Sep. 27, 2018room	Aug. 28, 2018room	Aug. 07, 2018room	Jul. 13, 2018room	Mar. 27, 2018room	Feb. 21, 2018room	Dec. 31, 2016USD ($)
Discontinued operations
Gain (loss) on sale of hotel properties, net | $	$ 35,895,000	$ (19,000)	$ 32,957,000	$ (49,000)
Disposal Group, Deferred Gain Recognized During Period | $			$ 700,000
Embassy Suites Boston Marlborough [Member]
Discontinued operations
Property disposed, number of rooms										229
Sheraton Philadelphia Society Hill Hotel [Member]
Discontinued operations
Property disposed, number of rooms									364
Embassy Suites Napa Valley [Member]
Discontinued operations
Property disposed, number of rooms								205
Doubletree Hotel Columbia [Member]
Discontinued operations
Property disposed, number of rooms							152
Vinoy Renaissance St. Petersburg Resort & Golf Club [Member]
Discontinued operations
Property disposed, number of rooms						362
Sheraton Burlington Hotel & Conference Center [Member]
Discontinued operations
Property disposed, number of rooms					309
Disposals 2018 [Member]
Discontinued operations
Property disposed, number of rooms	1,621		1,621
Gain (loss) on sale of hotel properties, net | $			$ 30,944,567
Accounts payable and other liabilities
Discontinued operations
Disposal Group, Deferred Gain on Disposal | $											$ 15,000,000

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue [Line Items]
Revenues	$ 447,042	$ 341,255	$ 1,361,327	$ 893,771
Northern California
Disaggregation of Revenue [Line Items]
Revenues	74,104	43,870	205,793	93,582
South Florida
Disaggregation of Revenue [Line Items]
Revenues	30,877	22,144	123,823	78,101
Southern California
Disaggregation of Revenue [Line Items]
Revenues	43,621	24,691	120,071	55,019
Austin, Texas
Disaggregation of Revenue [Line Items]
Revenues	20,322	20,147	73,699	68,133
New York City
Disaggregation of Revenue [Line Items]
Revenues	40,192	29,945	108,440	69,026
Houston, Texas
Disaggregation of Revenue [Line Items]
Revenues	16,044	14,907	53,471	45,616
Denver, Colorado
Disaggregation of Revenue [Line Items]
Revenues	25,061	26,190	65,691	67,892
Chicago, Illinois
Disaggregation of Revenue [Line Items]
Revenues	25,969	24,674	67,816	65,076
Washington, D.C.
Disaggregation of Revenue [Line Items]
Revenues	16,671	18,000	55,409	56,905
Louisville, Kentucky
Disaggregation of Revenue [Line Items]
Revenues	12,062	12,716	40,816	45,136
Other Markets
Disaggregation of Revenue [Line Items]
Revenues	142,119	103,971	446,298	249,285
Occupancy [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	377,237	292,046	1,138,115	770,751
Occupancy [Member] | Northern California
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	67,161	39,998	184,087	86,288
Occupancy [Member] | South Florida
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	24,678	18,186	102,940	64,933
Occupancy [Member] | Southern California
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	36,820	21,268	100,838	48,326
Occupancy [Member] | Austin, Texas
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	17,399	17,356	63,968	59,469
Occupancy [Member] | New York City
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	34,935	26,987	93,612	62,678
Occupancy [Member] | Houston, Texas
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	14,041	13,549	47,469	41,339
Occupancy [Member] | Denver, Colorado
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	21,503	22,432	55,292	57,038
Occupancy [Member] | Chicago, Illinois
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	21,935	20,553	56,451	53,451
Occupancy [Member] | Washington, D.C.
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	15,570	16,511	51,577	52,664
Occupancy [Member] | Louisville, Kentucky
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	8,233	9,935	28,830	33,303
Occupancy [Member] | Other Markets
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	114,962	85,271	353,051	211,262
Food and Beverage [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	47,211	35,580	157,850	91,392
Food and Beverage [Member] | Northern California
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	4,705	2,808	15,586	5,126
Food and Beverage [Member] | South Florida
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	4,426	2,966	15,413	9,871
Food and Beverage [Member] | Southern California
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	4,189	2,293	12,545	4,654
Food and Beverage [Member] | Austin, Texas
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,058	2,103	7,035	6,723
Food and Beverage [Member] | New York City
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	4,093	2,158	11,722	4,353
Food and Beverage [Member] | Houston, Texas
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	853	617	2,803	2,080
Food and Beverage [Member] | Denver, Colorado
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	3,186	3,330	9,423	9,745
Food and Beverage [Member] | Chicago, Illinois
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	3,457	3,648	9,895	10,343
Food and Beverage [Member] | Washington, D.C.
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	487	814	2,047	2,410
Food and Beverage [Member] | Louisville, Kentucky
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	3,361	2,215	10,461	9,977
Food and Beverage [Member] | Other Markets
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	16,396	12,628	60,920	26,110
Hotel, Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	22,594	13,629	65,362	31,628
Hotel, Other [Member] | Northern California
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,238	1,064	6,120	2,168
Hotel, Other [Member] | South Florida
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,773	992	5,470	3,297
Hotel, Other [Member] | Southern California
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,612	1,130	6,688	2,039
Hotel, Other [Member] | Austin, Texas
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	865	688	2,696	1,941
Hotel, Other [Member] | New York City
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,164	800	3,106	1,995
Hotel, Other [Member] | Houston, Texas
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,150	741	3,199	2,197
Hotel, Other [Member] | Denver, Colorado
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	372	428	976	1,109
Hotel, Other [Member] | Chicago, Illinois
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	577	473	1,470	1,282
Hotel, Other [Member] | Washington, D.C.
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	614	675	1,785	1,831
Hotel, Other [Member] | Louisville, Kentucky
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	468	566	1,525	1,856
Hotel, Other [Member] | Other Markets
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 10,761	$ 6,072	$ 32,327	$ 11,913

Debt (Senior Notes, Term Loans,

Debt (Senior Notes, Term Loans, and Revolver) (Details)	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Sep. 30, 2018USD ($)asset	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)asset	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Debt
Repayments of Senior Notes				$ 539,025,000	$ 0
Gain (Loss) on Extinguishment of Debt		$ (1,656,000)	$ 0	6,010,000	$ 0
Debt, net		2,290,164,000		2,290,164,000		$ 2,880,488,000
Unsecured Debt, Gross		1,175,000,000		1,175,000,000		1,175,000,000
Unamortized debt issuance costs on term loans		(6,264,000)		(6,264,000)		(4,046,000)
Line of credit, future borrowing capacity if extended				750,000,000
Senior Notes [Member]
Debt
Long-term Debt, Gross		$ 506,503,000		$ 506,503,000		1,062,716,000
Secured Debt [Member]
Debt
Number of Assets Encumbered | asset		19		19
Secured Debt		$ 614,925,000		$ 614,925,000		646,818,000
Unsecured Debt [Member]
Debt
Unsecured Debt		$ 1,168,736,000		$ 1,168,736,000		1,170,954,000
Five Point Six Three Percent Due March 2023 [Member] | Secured Debt [Member]
Debt
Number of Assets Encumbered | asset		9		9
Debt Instrument, Interest Rate, Stated Percentage		5.625%		5.625%
Long-term Debt, Gross		$ 0		$ 0		552,669,000
Six Point Zero Zero Percent Due June 2025 [Member] | Unsecured Debt [Member]
Debt
Number of Assets Encumbered | asset		0		0
Debt Instrument, Interest Rate, Stated Percentage		6.00%		6.00%
Long-term Debt, Gross		$ 506,503,000		$ 506,503,000		510,047,000
Senior Unsecured Notes [Member]
Debt
Debt Instrument, Redemption Price, Percentage				103.00%
Senior Secured Notes [Member]
Debt
Debt Instrument, Redemption Price, Percentage	102.813%
Gain (Loss) on Extinguishment of Debt				$ 7,662,341
The Revolver | Line of Credit
Debt
Maximum borrowing capacity		600,000,000		$ 600,000,000
Additional maturity term				1 year
Unsecured Debt		$ 0		$ 0		0
Interest Rate		3.76%		3.76%
Remaining borrowing capacity		$ 600,000,000		$ 600,000,000
$400 Million Term Loan Maturing 2019 | Unsecured Debt [Member]
Debt
Maximum borrowing capacity		400,000,000		400,000,000
Unsecured Debt		$ 400,000,000		$ 400,000,000		400,000,000
Interest Rate		3.19%		3.19%
$225 Million Term Loan Maturing 2019 | Unsecured Debt [Member]
Debt
Maximum borrowing capacity		$ 225,000,000		$ 225,000,000
Unsecured Debt		$ 225,000,000		$ 225,000,000		225,000,000
Interest Rate		3.44%		3.44%
$400 Million Term Loan Maturing 2021 | Unsecured Debt [Member]
Debt
Maximum borrowing capacity		$ 400,000,000		$ 400,000,000
Unsecured Debt		$ 400,000,000		$ 400,000,000		400,000,000
Interest Rate		3.08%		3.08%
$150 Million Term Loan Maturing 2022 | Unsecured Debt [Member]
Debt
Maximum borrowing capacity		$ 150,000,000		$ 150,000,000
Unsecured Debt		$ 150,000,000		$ 150,000,000		150,000,000
Interest Rate		3.08%		3.08%
Senior Secured Notes [Member] | Secured Debt [Member]
Debt
Debt Instrument, Fair Value Adjustment, Net						28,700,000
Repayments of Senior Notes				$ 539,025,024
Senior Unsecured Notes [Member] | Unsecured Debt [Member]
Debt
Debt Instrument, Fair Value Adjustment, Net		$ 31,500,000		31,500,000		35,100,000
Embassy Suites Boston Marlborough & Sheraton Philadelphia Society Hill [Member]
Debt
Gain (Loss) on Extinguishment of Debt				5,100,000
Embassy Suites Boston Marlborough & Sheraton Philadelphia Society Hill [Member] | Senior Secured Notes [Member]
Debt
Gain (Loss) on Extinguishment of Debt				5,100,000
Prepaid expenses and other assets | Accounting Standards Update 2015-03
Debt
Deferred financing costs		$ 1,700,000		$ 1,700,000		$ 2,600,000

Debt (Mortgage Loans) (Details)

Debt (Mortgage Loans) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2018USD ($)hotelassetterm	Dec. 31, 2017USD ($)
Debt
Mortgage loans, gross	$ 615,422	$ 647,752
Unamortized debt issuance costs on mortgage loans	$ (497)	(934)
Secured Debt [Member]
Debt
Number of Assets Encumbered | asset	19
Mortgage loans, net	$ 614,925	646,818
Secured Debt [Member] | LIBOR Plus Three Point Zero Zero Percent Due November 2017 [Member]
Debt
Debt Instrument, Fair Value Adjustment, Net	100	400
Secured Debt [Member] | Four Point Nine Four Percent Due October 2022 [Member]
Debt
Debt Instrument, Fair Value Adjustment, Net	$ 600	700
Secured Debt [Member] | Wells Fargo Lender 2 [Member]
Debt
Number of Assets Encumbered | asset	4
Interest Rate	4.08%
Mortgage loans, net	$ 150,000	150,000
Number of additional maturity terms | term	2
Secured Debt [Member] | Wells Fargo 1
Debt
Number of Assets Encumbered | asset	4
Interest Rate	4.05%
Mortgage loans, net	$ 141,000	143,250
Number of hotels encumbered by loans that are cross-collateralized | hotel	2
Additional maturity term	1 year
Number of additional maturity terms | term	3
Secured Debt [Member] | PNC Bank
Debt
Number of Assets Encumbered | asset	5
Interest Rate	4.36%
Mortgage loans, net	$ 85,000	85,000
Number of hotels encumbered by loans that are cross-collateralized | hotel	5
Additional maturity term	1 year
Number of additional maturity terms | term	2
Secured Debt [Member] | Wells Fargo 3
Debt
Number of Assets Encumbered | asset	1
Interest Rate	5.25%
Mortgage loans, net	$ 32,269	32,882
Debt Instrument, Fair Value Adjustment, Net	700	800
Secured Debt [Member] | Four Point Nine Five Percent Due October 2022 [Member]
Debt
Debt Instrument, Fair Value Adjustment, Net	$ 2,000	3,000
Four Point Nine Five Percent Due October 2022 [Member] | Secured Debt [Member]
Debt
Number of Assets Encumbered | asset	3
Mortgage loans, net	$ 92,322	120,893
Debt Instrument, Interest Rate, Stated Percentage	4.95%
The Revolver | Line of Credit
Debt
Interest Rate	3.76%
Additional maturity term	1 year
Remaining borrowing capacity	$ 600,000
Four Point Nine Four Percent Due October 2022 [Member] | Secured Debt [Member]
Debt
Number of Assets Encumbered | asset	1
Mortgage loans, net	$ 29,758	30,323
Debt Instrument, Interest Rate, Stated Percentage	4.94%
LIBOR Plus Three Point Zero Zero Percent Due November 2017 [Member] | Secured Debt [Member]
Debt
Number of Assets Encumbered | asset	1
Mortgage loans, net	$ 85,073	$ 85,404

Debt (Components of Interest Ex

Debt (Components of Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Debt
Amortization of deferred financing costs	$ 880	$ 893	$ 2,688	$ 2,597
Total Interest Expense	24,629	19,650	78,772	48,527
Senior Notes [Member]
Debt
Interest expense	5,954	3,980	22,485	3,980
Secured Debt [Member]
Debt
Interest expense	6,753	4,943	20,171	12,969
Revolver and Term Loans
Debt
Interest expense	$ 11,042	$ 9,834	$ 33,428	$ 28,981

Derivatives and Hedging (Detail

Derivatives and Hedging (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Interest Rate Derivatives
Notional value	$ 1,993,000,000		$ 1,993,000,000		$ 2,186,251,000
Unrealized gains (losses) included in accumulated other comprehensive loss	38,300,000		38,300,000		8,800,000
Amount of hedge ineffectiveness	0	$ 0	0	$ 0
Net unrealized gains in accumulated other comprehensive income expected to be reclassified into interest expense within the next 12 months	10,100,000		10,100,000
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net	38,315,000		38,315,000		8,846,000
Designated as Hedging Instrument | Swap-cash flow, hedge type two
Derivatives and Hedging
Interest rate swap asset	0		0
Interest rate swap liability					(38,000)
Interest Rate Derivatives
Notional value	$ 0		$ 0		175,000,000
Interest rate	1.5625%		1.5625%
Designated as Hedging Instrument | Swap-cash flow, hedge type three
Derivatives and Hedging
Interest rate swap asset	$ 0		$ 0
Interest rate swap liability					(71,000)
Interest Rate Derivatives
Notional value	$ 0		$ 0		175,000,000
Interest rate	1.635%		1.635%
Designated as Hedging Instrument | Swap-cash flow, hedge type four
Derivatives and Hedging
Interest rate swap asset	$ 0		$ 0
Interest rate swap liability					(23,000)
Interest Rate Derivatives
Notional value	$ 0		$ 0		15,758,000
Interest rate	1.825%		1.825%
Designated as Hedging Instrument | Swap-cash flow, hedge type five
Derivatives and Hedging
Interest rate swap asset	$ 0		$ 0
Interest rate swap liability					(14,000)
Interest Rate Derivatives
Notional value	$ 0		$ 0		15,758,000
Interest rate	1.751%		1.751%
Designated as Hedging Instrument | Swap-cash flow, hedge type six
Derivatives and Hedging
Interest rate swap asset	$ 0		$ 0
Interest rate swap liability					(57,000)
Interest Rate Derivatives
Notional value	$ 0		$ 0		38,678,000
Interest rate	1.825%		1.825%
Designated as Hedging Instrument | Swap-cash flow, hedge type seven
Derivatives and Hedging
Interest rate swap asset	$ 0		$ 0
Interest rate swap liability					(35,000)
Interest Rate Derivatives
Notional value	$ 0		$ 0		39,632,000
Interest rate	1.751%		1.751%
Designated as Hedging Instrument | Swap-cash flow, hedge type eight
Derivatives and Hedging
Interest rate swap asset	$ 0		$ 0
Interest rate swap liability					(25,000)
Interest Rate Derivatives
Notional value	$ 0		$ 0		17,190,000
Interest rate	1.825%		1.825%
Designated as Hedging Instrument | Swap-cash flow, hedge type nine
Derivatives and Hedging
Interest rate swap asset	$ 0		$ 0
Interest rate swap liability					(14,000)
Interest Rate Derivatives
Notional value	$ 0		$ 0		16,235,000
Interest rate	1.751%		1.751%
Designated as Hedging Instrument | Swap-cash flow, hedge type ten
Derivatives and Hedging
Interest rate swap asset	$ 212,000		$ 212,000
Interest rate swap liability					(383,000)
Interest Rate Derivatives
Notional value	$ 125,000,000		$ 125,000,000		125,000,000
Interest rate	2.018%		2.018%
Designated as Hedging Instrument | Swap-cash flow, hedge type eleven
Derivatives and Hedging
Interest rate swap asset	$ 207,000		$ 207,000
Interest rate swap liability					(213,000)
Interest Rate Derivatives
Notional value	$ 100,000,000		$ 100,000,000		100,000,000
Interest rate	1.944%		1.944%
Designated as Hedging Instrument | Swap-cash flow, hedge type twelve
Derivatives and Hedging
Interest rate swap asset	$ 750,000		$ 750,000		836,000
Interest Rate Derivatives
Notional value	$ 125,000,000		$ 125,000,000		125,000,000
Interest rate	1.2715%		1.2715%
Designated as Hedging Instrument | Swap-cash flow, hedge type thirteen
Derivatives and Hedging
Interest rate swap asset	$ 224,000		$ 224,000
Interest rate swap liability					(230,000)
Interest Rate Derivatives
Notional value	$ 100,000,000		$ 100,000,000		100,000,000
Interest rate	1.9615%		1.9615%
Designated as Hedging Instrument | Swap-cash flow, hedge type fourteen
Derivatives and Hedging
Interest rate swap asset	$ 142,000		$ 142,000
Interest rate swap liability					(43,000)
Interest Rate Derivatives
Notional value	$ 50,000,000		$ 50,000,000		50,000,000
Interest rate	1.85%		1.85%
Designated as Hedging Instrument | Swap-cash flow, hedge type fifteen
Derivatives and Hedging
Interest rate swap asset	$ 153,000		$ 153,000
Interest rate swap liability					(19,000)
Interest Rate Derivatives
Notional value	$ 50,000,000		$ 50,000,000		50,000,000
Interest rate	1.8115%		1.8115%
Designated as Hedging Instrument | Swap-cash flow, hedge type sixteen
Derivatives and Hedging
Interest rate swap asset	$ 86,000		$ 86,000		13,000
Interest Rate Derivatives
Notional value	$ 25,000,000		$ 25,000,000		25,000,000
Interest rate	1.7445%		1.7445%
Designated as Hedging Instrument | Swap-cash flow, hedge type seventeen
Derivatives and Hedging
Interest rate swap asset	$ 589,000		$ 589,000		202,000
Interest Rate Derivatives
Notional value	$ 33,000,000		$ 33,000,000		33,000,000
Interest rate	1.80%		1.80%
Designated as Hedging Instrument | Swap-cash flow, hedge type eighteen
Derivatives and Hedging
Interest rate swap asset	$ 1,463,000		$ 1,463,000		502,000
Interest Rate Derivatives
Notional value	$ 82,000,000		$ 82,000,000		82,000,000
Interest rate	1.80%		1.80%
Designated as Hedging Instrument | Swap-cash flow, hedge type nineteen
Derivatives and Hedging
Interest rate swap asset	$ 624,000		$ 624,000		214,000
Interest Rate Derivatives
Notional value	$ 35,000,000		$ 35,000,000		35,000,000
Interest rate	1.80%		1.80%
Designated as Hedging Instrument | Swap-cash flow, hedge type twenty
Derivatives and Hedging
Interest rate swap asset	$ 2,958,000		$ 2,958,000		803,000
Interest Rate Derivatives
Notional value	$ 143,000,000		$ 143,000,000		143,000,000
Interest rate	1.80816%		1.80816%
Designated as Hedging Instrument | Swap-cash flow, hedge type twenty one
Derivatives and Hedging
Interest rate swap asset	$ 1,699,000		$ 1,699,000		769,000
Interest Rate Derivatives
Notional value	$ 50,000,000		$ 50,000,000		50,000,000
Interest rate	1.6125%		1.6125%
Designated as Hedging Instrument | Swap-cash flow, hedge type twenty two
Derivatives and Hedging
Interest rate swap asset	$ 1,778,000		$ 1,778,000		869,000
Interest Rate Derivatives
Notional value	$ 50,000,000		$ 50,000,000		50,000,000
Interest rate	1.5555%		1.5555%
Designated as Hedging Instrument | Swap-cash flow, hedge type twenty three
Derivatives and Hedging
Interest rate swap asset	$ 1,566,000		$ 1,566,000		598,000
Interest Rate Derivatives
Notional value	$ 50,000,000		$ 50,000,000		50,000,000
Interest rate	1.7095%		1.7095%
Designated as Hedging Instrument | Swap-cash flow, hedge type twenty four
Derivatives and Hedging
Interest rate swap asset	$ 4,346,000		$ 4,346,000		2,880,000
Interest Rate Derivatives
Notional value	$ 100,000,000		$ 100,000,000		100,000,000
Interest rate	1.15%		1.15%
Designated as Hedging Instrument | Swap-cash flow, hedge type twenty five
Derivatives and Hedging
Interest rate swap asset	$ 4,217,000		$ 4,217,000		2,726,000
Interest Rate Derivatives
Notional value	$ 100,000,000		$ 100,000,000		100,000,000
Interest rate	1.20%		1.20%
Designated as Hedging Instrument | Swap-cash flow, hedge type twenty six
Derivatives and Hedging
Interest rate swap asset	$ 1,323,000		$ 1,323,000
Interest rate swap liability					(144,000)
Interest Rate Derivatives
Notional value	$ 75,000,000		$ 75,000,000		75,000,000
Interest rate	2.15%		2.15%
Designated as Hedging Instrument | Swap-cash flow, hedge type twenty seven
Derivatives and Hedging
Interest rate swap asset	$ 1,793,000		$ 1,793,000		415,000
Interest Rate Derivatives
Notional value	$ 75,000,000		$ 75,000,000		75,000,000
Interest rate	1.91%		1.91%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Twenty Eight [Member]
Derivatives and Hedging
Interest rate swap asset	$ 4,849,000		$ 4,849,000
Interest rate swap liability					(413,000)
Interest Rate Derivatives
Notional value	$ 200,000,000		$ 200,000,000		200,000,000
Interest rate	2.29%		2.29%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Twenty Nine [Member]
Derivatives and Hedging
Interest rate swap asset	$ 3,054,000		$ 3,054,000
Interest rate swap liability					(259,000)
Interest Rate Derivatives
Notional value	$ 125,000,000		$ 125,000,000		125,000,000
Interest rate	2.29%		2.29%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Thirty [Member]
Derivatives and Hedging
Interest rate swap asset	$ 4,180,000		$ 4,180,000		0
Interest Rate Derivatives
Notional value	$ 200,000,000		$ 200,000,000		0
Interest rate	2.38%		2.38%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Thirty One [Member]
Derivatives and Hedging
Interest rate swap asset	$ 2,102,000		$ 2,102,000		0
Interest Rate Derivatives
Notional value	$ 100,000,000		$ 100,000,000		0
Interest rate	2.38%		2.38%
Interest Expense
Interest Rate Derivatives
Amount reclassified from accumulated other comprehensive income into interest expense	$ 1,400,000	$ (1,300,000)	$ 1,700,000	$ (6,200,000)
Accounts payable and other liabilities | Interest rate swap
Derivatives and Hedging
Interest rate swap liability					(2,000,000)
Prepaid expenses and other assets | Interest rate swap
Derivatives and Hedging
Interest rate swap asset	$ 38,300,000		$ 38,300,000		$ 10,800,000

Fair Value (Details)

Fair Value (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net	$ 38,315,000	$ 8,846,000
Debt, net	2,290,164,000	2,880,488,000
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Fair Value	2,292,681,000	2,861,022,000
Recurring | Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Interest rate swap asset	38,315,000	10,827,000
Interest rate swap liability	0	(1,981,000)
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net	38,315,000	8,846,000
Recurring | Level 1 | Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Interest rate swap asset	0	0
Interest rate swap liability	0	0
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net	0	0
Recurring | Level 2 | Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Interest rate swap asset	38,315,000	10,827,000
Interest rate swap liability	0	(1,981,000)
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net	38,315,000	8,846,000
Recurring | Level 3 | Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Interest rate swap asset	0	0
Interest rate swap liability	0	0
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net	0	0
Mortgages [Member] | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Fair Value	613,712,000	643,078,000
Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Gross	506,503,000	1,062,716,000
Senior Notes [Member] | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Fair Value	503,968,749	1,038,892,000
Unsecured Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Unsecured Debt	1,168,736,000	1,170,954,000
Unsecured Debt [Member] | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Fair Value	$ 1,175,000,000	$ 1,179,052,000

Income Taxes (Details)

Income Taxes (Details) - USD ($)	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Minimum percent of adjusted taxable income to be distributed to shareholders to qualify as a REIT	90.00%
Accruals for tax uncertainties	$ 0	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	3 Months Ended	9 Months Ended
	Mar. 31, 2016	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017
Loss Contingencies [Line Items]
Wyndham NOI Guarantee over life of management agreement		$ 100,000,000
Pension Trust Litigation - Loss Contingency, Damages Sought	$ 8,300,000
Pension Trust Litigation - Loss Contingency Accrual		4,600,000
Wyndham NOI Guarantee annual limit		$ 21,500,000
Minimum restricted cash reserve escrows to be maintained as a percentage of the hotel's revenue		3.00%
Maximum restricted cash reserve escrows to be maintained as percentage of hotel's revenue		5.00%
Restricted cash reserves for future capital expenditures, real estate taxes and insurance		$ 78,113,000	$ 72,606,000	$ 78,343,000

Commitments and Contingencies_2

Commitments and Contingencies (Management Agreements) (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)hotel	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)hotel	Sep. 30, 2017USD ($)
Other Commitments
Number of Hotel Properties Operated under Management Agreements | hotel	151		151
Minimum
Other Commitments
Management Agreement Term			3 years
Base Management Fee as Percentage of Hotel Revenues			3.00%
Management Agreements which include Franchise Agreement, Base Management Fee as Percentage of Hotel Revenues			2.00%
Maximum
Other Commitments
Management Agreement Term			25 years
Base Management Fee as Percentage of Hotel Revenues			3.50%
Management Agreements which include Franchise Agreement, Base Management Fee as Percentage of Hotel Revenues			7.00%
Management Service [Member]
Other Commitments
Cost of Goods and Services Sold | $	$ 14.7	$ 10.9	$ 45.7	$ 32.5

Commitments and Contingencies_3

Commitments and Contingencies (Franchise Agreements) (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)hotel	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)hotel	Sep. 30, 2017USD ($)
Other Commitments
Number of Hotel Properties Operated under Franchise Agreements | hotel	108		108
Minimum
Other Commitments
Franchise Agreements Term			10 years
Franchise Agreements, Royalty Fee as Percentage of Room Revenue			4.00%
Franchise Agreements, Additional Fees for Marketing Central Reservation Systems and Other Franchisor Costs as Percentage of Room Revenue			1.00%
Maximum
Other Commitments
Franchise Agreements Term			30 years
Franchise Agreements, Royalty Fee as Percentage of Room Revenue			6.00%
Franchise Agreements, Additional Fees for Marketing Central Reservation Systems and Other Franchisor Costs as Percentage of Room Revenue			4.30%
Franchise Agreements, Royalty Fee as Percentage of Food and Beverage Revenue			3.00%
Franchise [Member]
Other Commitments
Cost of Goods and Services Sold | $	$ 20.2	$ 18.6	$ 62.1	$ 53.6

Equity (Details)

Equity (Details) - USD ($)	Aug. 31, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Feb. 17, 2017	Oct. 30, 2015
Equity, Class of Treasury Stock
Proceeds net of issuance costs on the issuance of preferred equity in a consolidated joint venture				$ 44,400,000
Share repurchase program, authorized amount							$ 440,000,000	$ 400,000,000
Share repurchase program, additional authorized amount							$ 40,000,000
Common shares repurchased and retired (in shares)					122,508
Stock repurchased during the period, Value					$ 2,610,000
Dividends declared per common share		$ 0.33	$ 0.33
Preferred Stock, Shares Authorized		50,000,000		50,000,000		50,000,000
Common shares of beneficial interest, par value (in dollars per share)	$ 0.01	$ 0.01		$ 0.01		$ 0.01
Share repurchase program, remaining authorized amount		$ 198,932,517		$ 198,932,517
Proceeds from Issuance of Redeemable Convertible Preferred Stock				$ 45,000,000
Common Stock [Member]
Equity, Class of Treasury Stock
Common shares repurchased and retired (in shares)					122,508
Stock repurchased during the period, Value					$ 1,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	50,358,104
Limited Partners
Equity, Class of Treasury Stock
Remaining limited partner ownership interest in Operating Partnership units (in shares)		773,902		773,902
Series A Cumulative Preferred Stock [Member]
Equity, Class of Treasury Stock
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	12,879,475
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Share Price	$ 28.49
Preferred Stock, Shares Authorized	12,950,000	12,950,000		12,950,000		12,950,000
Preferred Stock, Dividends Per Share, Declared		$ 0.49	$ 0.49
Partnership Interest [Member]
Equity, Class of Treasury Stock
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Share Price	$ 20.18
Business Acquisition, Common Units Issued or Issuable, Number of Units	215,152
Common Stock [Member]
Equity, Class of Treasury Stock
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	50,400,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Share Price	$ 20.18
RLJ Lodging Trust [Member] | Series A Cumulative Preferred Stock [Member]
Equity, Class of Treasury Stock
Preferred Stock, Dividend Rate, Per-Dollar-Amount					$ 1.95
Corporate Joint Venture [Member]
Equity, Class of Treasury Stock
Preferred Stock, Dividend Rate, Percentage				3.25%
Preferred Stock, Dividend Rate if not Redeemed, Percentage				8.00%
Preferred Stock, Dividend Rate, Non-Compounding Rate Payable at Redemption, Percentage				0.25%

Equity Incentive Plan (Details)

Equity Incentive Plan (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended		3 Months Ended		9 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Equity Incentive Plan
Maximum number of common shares available for issuance (in shares)			7,500,000		7,500,000
Other Disclosures
Common shares available for future grant (in shares)			2,981,978		2,981,978
Restricted share awards
Summary of non-vested shares/units
Unvested at the beginning of the period (in shares)					700,325
Granted (in shares)					591,851
Vested (in shares)					(348,580)
Forfeited (in shares)					(113,325)
Unvested at the end of the period (in shares)			830,271		830,271
Weighted Average Grant Date Fair Value
Unvested at the beginning of the period (in dollars per share)					$ 22.88
Granted (in dollars per share)					21.42
Vested (in dollars per share)					23.22
Forfeited (in dollars per share)					21.58
Unvested at the end of the period (in dollars per share)			$ 21.87		$ 21.87
Other Disclosures
Share-based compensation expense			$ 3.8	$ 2	$ 8.1	$ 6.7
Total unrecognized compensation costs			15.9		$ 15.9
Weighted-average period of recognition of unrecognized share-based compensation expense					2 years 6 months
Total fair value of shares vested					$ 7.7	5.7
2017 Performance Shares
Summary of non-vested shares/units
Granted (in shares)		259,000
Weighted Average Grant Date Fair Value
Granted (in dollars per share)		$ 14.93
Other Disclosures
Vesting period		4 years
Performance-based vesting period		3 years
Time-based vesting period		1 year
2018 Performance Shares
Summary of non-vested shares/units
Granted (in shares)	264,000
Weighted Average Grant Date Fair Value
Granted (in dollars per share)	$ 13.99
Other Disclosures
Vesting period	4 years
Performance-based vesting period	3 years
Time-based vesting period	1 year
Vesting percentage upon satisfaction of performance-based vesting period	50.00%
Vesting percentage upon satisfaction of time-based vesting period	50.00%
Fair value assumptions, risk free interest rate	2.42%
Fair value assumptions, expected volatility rate	27.44%
Percentage of grant date fair value to be recognized over three years	50.00%
Employee service share based compensation cost period of recognition	3 years
Percentage of grant date fair value to be recognized over four years	50.00%
Employee service share based compensation cost period of recognition	4 years
Performance Units
Other Disclosures
Share-based compensation expense			0.2	$ 0.5	1.6	$ 1.3
Total unrecognized compensation costs			$ 3.8		$ 3.8
Weighted-average period of recognition of unrecognized share-based compensation expense					2 years 4 months
Minimum | 2018 Performance Shares
Other Disclosures
Percentage of performance units that will convert into restricted shares	25.00%
Maximum | 2018 Performance Shares
Other Disclosures
Percentage of performance units that will convert into restricted shares	150.00%

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share [Abstract]
Net Income (Loss) Attributable to Parent	$ 73,975	$ 3,914	$ 161,378	$ 67,918
Numerator:
Preferred Stock Dividends, Income Statement Impact	6,279	2,093	18,836	2,093
Less: Dividends paid on unvested restricted shares	(274)	(243)	(937)	(798)
Less: Undistributed Earnings allocated to unvested restricted shares	46	0	0	0
Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares	$ 67,376	$ 1,578	$ 141,605	$ 65,027
Denominator:
Weighted-average number of common shares - basic (in shares)	174,326,198	140,249,961	174,253,393	129,317,120
Unvested restricted shares (in shares)	129,075	57,308	109,523	82,057
Incremental Common Shares Attributable to Performance Units	24,068	0	2,185	0
Weighted-average number of common shares - diluted (in shares)	174,479,341	140,307,269	174,365,101	129,399,177
Net income per share attributable to common shareholders - basic (in dollars per share)	$ 0.39	$ 0.01	$ 0.81	$ 0.50
Net income per share attributable to common shareholders - diluted (in dollars per share)	$ 0.39	$ 0.01	$ 0.81	$ 0.50

Supplemental Information to S_3

Supplemental Information to Statements of Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Dec. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 425,384	$ 421,181	$ 586,470
Restricted cash reserves	78,113	78,343	72,606
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	503,497	499,524	$ 659,076	$ 523,878
Interest paid	84,377	34,170
Income taxes paid	1,902	1,107
In conjunction with the sale of hotel properties, the Company recorded the following:
Sale of hotel properties	456,600	0
Transaction costs	(8,432)	(49)
Operating prorations	(431)	0
Proceeds from the sale of hotel properties, net	447,737	(49)
Supplemental non-cash transactions (1)
Accrued capital expenditures	$ 5,879	$ 5,465

Uncategorized Items - rlj-20180

Label	Element	Value
Noncontrolling Interest, Increase from Business Combination	us-gaap_NoncontrollingInterestIncreaseFromBusinessCombination	$ 5,157,000
Stock Issued During Period, Value, Acquisitions	us-gaap_StockIssuedDuringPeriodValueAcquisitions	1,016,227,000
Common Stock [Member]
Stock Issued During Period, Value, Acquisitions	us-gaap_StockIssuedDuringPeriodValueAcquisitions	504,000
Additional Paid-in Capital [Member]
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	1,015,723,000
Capital Units [Member]
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	us-gaap_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable	4,342,000
Preferred Capital in Consolidated Joint Venture [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	$ 44,430,000