RLJ Lodging Trust (RLJ) 10-Q 8 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Aug. 01, 2019
Cover page.
Document Quarterly Report		true
Document Transition Report		false
Entity Registrant Name		RLJ LODGING TRUST
Entity Central Index Key		0001511337
Current Fiscal Year End Date		--12-31
Document Type		10-Q
Document Period End Date		Jun. 30, 2019
Document Fiscal Year Focus		2019
Document Fiscal Period Focus		Q2
Amendment Flag		false
Entity File Number		001-35169
Entity Incorporation, State or Country Code		MD
Entity Tax Identification Number		27-4706509
Entity Address, Address Line One		3 Bethesda Metro Center, Suite 1000
Entity Address, City or Town		Bethesda,
Entity Address, State or Province		MD
Entity Address, Postal Zip Code		20814
City Area Code		301
Local Phone Number		280-7777
Title of 12(b) Security		Common Shares of beneficial interest, par value $0.01 per share
Trading Symbol		RLJ
Security Exchange Name		NYSE
Entity Current Reporting Status		Yes
Entity Interactive Data Current		Yes
Entity Filer Category		Large Accelerated Filer
Entity Small Business		false
Entity Emerging Growth Company		false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding			172,133,577

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Assets
Investment in hotel properties, net	$ 4,706,110	$ 5,378,651
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	16,612	22,279
Cash and cash equivalents	697,600	320,147
Restricted cash reserves	48,330	64,695
Hotel and other receivables, net of allowance of $352 and $598, respectively	65,019	52,115
Operating Lease, Right-of-Use Asset	147,023	0
Deferred income tax asset, net	43,343	47,395
Intangible Assets, Net (Excluding Goodwill)	173	52,448
Prepaid expense and other assets	48,018	67,367
Disposal Group, Including Discontinued Operation, Assets, Current	169,439	0
Total assets	5,941,667	6,005,097
Liabilities and Equity
Debt, net	2,200,722	2,202,676
Accounts payable and other liabilities	183,791	203,833
Deferred income tax liability	2,766	2,766
Advance deposits and deferred revenue	23,125	25,411
Operating Lease, Liability	122,399	0
Accrued interest	6,922	7,913
Distributions payable	64,941	65,557
Total liabilities	2,604,666	2,508,156
Commitments and Contingencies (Note 11)
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; 173,459,015 and 174,019,616 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively	1,735	1,740
Additional paid-in capital	3,182,351	3,195,381
Accumulated other comprehensive (loss) income	(21,836)	16,195
Retained Earnings	(216,583)	(150,476)
Total shareholders’ equity	3,312,603	3,429,776
Noncontrolling interest:
Noncontrolling interest in consolidated joint ventures	13,957	11,908
Noncontrolling interest in the Operating Partnership	10,441	10,827
Total noncontrolling interest	24,398	22,735
Limited Liability Company (LLC) Preferred Unit, Issuance Value	0	44,430
Total equity	3,337,001	3,496,941
Total liabilities and equity	$ 5,941,667	$ 6,005,097

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Hotel and other receivables, allowance	$ 352	$ 598
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	173,459,015	174,019,616
Common shares of beneficial interest, shares outstanding	173,459,015	174,019,616
Limited Liability Company (LLC) Preferred Unit, Liquidation Value	$ 0	$ 45,544
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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues
Total revenues	$ 448,727	$ 484,691	$ 847,994	$ 914,285
Expenses
Management and franchise fee expense	35,825	37,252	69,944	72,928
Depreciation and amortization	54,956	61,648	113,359	123,056
Property tax, insurance and other	31,201	35,537	61,797	70,036
General and administrative	11,765	15,523	22,925	26,436
Transaction costs	425	247	984	1,920
Total operating expenses	360,576	395,628	710,927	777,152
Other income	349	565	622	1,657
Interest income	1,073	960	2,245	2,190
Interest expense	(25,237)	(25,443)	(45,299)	(54,144)
Gain (loss) on sale of hotel properties, net	(24,835)	796	(24,835)	(2,938)
Gain (Loss) on Extinguishment of Debt	0	7	0	7,666
Income before equity in (loss) income from unconsolidated joint ventures	39,501	65,948	69,800	91,564
Income (Loss) from Equity Method Investments	(2,403)	799	(2,784)	418
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	37,098	66,747	67,016	91,982
Income tax expense	(3,417)	(2,354)	(5,003)	(3,696)
Net income	33,681	64,393	62,013	88,286
Net (income) loss attributable to noncontrolling interests:
Noncontrolling interest in consolidated joint ventures	(96)	(55)	256	179
Noncontrolling interest in the Operating Partnership	(141)	(254)	(233)	(327)
Preferred distributions - consolidated joint venture	0	(370)	(186)	(735)
Redemption of preferred equity - consolidated joint venture	0	0	(1,153)	0
Net Income (Loss) Attributable to Parent	33,444	63,714	60,697	87,403
Preferred dividends	(6,279)	(6,279)	(12,557)	(12,557)
Net income attributable to common shareholders	$ 27,165	$ 57,435	$ 48,140	$ 74,846
Basic per common share data:
Net income per share attributable to common shareholders - basic (in dollars per share)	$ 0.16	$ 0.33	$ 0.27	$ 0.43
Weighted-average number of common shares - basic (in shares)	172,661,878	174,238,854	172,729,064	174,216,387
Diluted per common share data:
Net income per share attributable to common shareholders - diluted (in dollars per share)	$ 0.16	$ 0.33	$ 0.27	$ 0.43
Weighted-average number of common shares - diluted (in shares)	172,766,091	174,364,547	172,808,513	174,316,348
Comprehensive income:
Unrealized (loss) gain on interest rate derivatives	$ (21,645)	$ 6,936	$ (35,781)	$ 24,793
Reclassification of unrealized gain on discontinued cash flow hedges to interest expense	0	0	(2,250)	0
Comprehensive income	12,036	71,329	23,982	113,079
Noncontrolling interest in consolidated joint ventures	(96)	(55)	256	179
Noncontrolling interest in the Operating Partnership	(141)	(254)	(233)	(327)
Comprehensive income attributable to RLJ	11,799	70,650	22,666	112,196
Occupancy [Member]
Revenues
Revenue from Contract with Customer, Excluding Assessed Tax	378,857	403,232	716,527	760,877
Expenses
Cost of Goods and Services Sold	88,898	94,459	173,086	184,428
Food and Beverage [Member]
Revenues
Revenue from Contract with Customer, Excluding Assessed Tax	49,458	58,444	93,704	110,639
Expenses
Cost of Goods and Services Sold	35,910	42,406	70,119	83,669
Hotel, Other [Member]
Revenues
Revenue from Contract with Customer, Excluding Assessed Tax	20,412	23,015	37,763	42,769
Expenses
Cost of Goods and Services Sold	101,596	108,556	198,713	214,679
Hotel [Member]
Expenses
Cost of Goods and Services Sold	262,229	282,673	511,862	555,704
AOCI Attributable to Parent [Member]
Comprehensive income:
Unrealized (loss) gain on interest rate derivatives	$ (21,645)	$ 6,936	(35,781)	$ 24,793
Reclassification of unrealized gain on discontinued cash flow hedges to interest expense			$ (2,250)

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Series A Cumulative Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in-Capital	Retained Earnings (Distributions in excess of net earnings)	Accumulated Other Comprehensive Income	Operating Partnership	Consolidated Joint Venture	Preferred Capital in Consolidated Joint Venture [Member]
Balance (in shares) at Dec. 31, 2017		12,879,475	174,869,046
Balance at Dec. 31, 2017	$ 3,570,278	$ 366,936	$ 1,749	$ 3,208,002	$ (82,566)	$ 8,846	$ 11,181	$ 11,700	$ 44,430
Increase (Decrease) in Owners' Equity
Net Income (Loss) Attributable to Parent	87,403				87,403
Net income (loss)	88,286						327	(179)	735
Unrealized loss on interest rate derivatives	24,793					24,793
Reclassification of unrealized gain on discontinued cash flow hedges to interest expense	0
Contributions from a noncontrolling interest	74							74
Issuance of restricted stock (in shares)			458,207
Issuance of restricted stock	0		$ 5	(5)
Amortization of share-based compensation	6,050			6,050
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock (in shares)			(45,472)
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock	(999)		$ (1)	(998)
Forfeiture of restricted stock (in shares)			(3,483)
Forfeiture of restricted stock	0		$ 0	0
Dividends, Preferred Stock	(12,557)				(12,557)
Distributions on common shares and units	(116,621)				(116,088)		(533)
Preferred distributions - consolidated joint venture	(735)								(735)
Balance (in shares) at Jun. 30, 2018		12,879,475	175,278,298
Balance at Jun. 30, 2018	3,558,569	$ 366,936	$ 1,753	3,213,049	(123,808)	33,639	10,975	11,595	44,430
Balance (in shares) at Mar. 31, 2018		12,879,475	175,205,952
Balance at Mar. 31, 2018	3,549,400	$ 366,936	$ 1,752	3,210,185	(123,144)	26,703	10,998	11,540	44,430
Increase (Decrease) in Owners' Equity
Net Income (Loss) Attributable to Parent	63,714				63,714
Net income (loss)	64,393						254	55	370
Unrealized loss on interest rate derivatives	6,936					6,936
Reclassification of unrealized gain on discontinued cash flow hedges to interest expense	0
Issuance of restricted stock (in shares)			97,791
Issuance of restricted stock	0		$ 1	(1)
Amortization of share-based compensation	3,400			3,400
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock (in shares)			(24,441)
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock	(535)		$ 0	(535)
Forfeiture of restricted stock (in shares)			(1,004)
Forfeiture of restricted stock	0		$ 0	0
Dividends, Preferred Stock	(6,279)				(6,279)
Distributions on common shares and units	(58,376)				(58,099)		(277)
Preferred distributions - consolidated joint venture	(370)								(370)
Balance (in shares) at Jun. 30, 2018		12,879,475	175,278,298
Balance at Jun. 30, 2018	3,558,569	$ 366,936	$ 1,753	3,213,049	(123,808)	33,639	10,975	11,595	44,430
Balance (in shares) at Dec. 31, 2018		12,879,475	174,019,616
Balance at Dec. 31, 2018	3,496,941	$ 366,936	$ 1,740	3,195,381	(150,476)	16,195	10,827	11,908	44,430
Increase (Decrease) in Owners' Equity
Net Income (Loss) Attributable to Parent	60,697
Net income (loss)	62,013						233	(256)	1,339
Unrealized loss on interest rate derivatives	(35,781)					(35,781)
Reclassification of unrealized gain on discontinued cash flow hedges to interest expense	(2,250)					(2,250)
Redemption of Operating Partnership units	(9)						(9)
Contributions from a noncontrolling interest	2,305							2,305
Issuance of restricted stock (in shares)			530,436
Issuance of restricted stock	0		$ 5	(5)
Amortization of share-based compensation	6,032			6,032
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock (in shares)			(34,880)
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock	$ (656)		$ 0	(656)
Shares acquired as part of a share repurchase program (in shares)	(1,049,215)		(1,049,215)
Shares acquired as part of a share repurchase program	$ (18,411)		$ (10)	(18,401)
Forfeiture of restricted stock (in shares)			(6,942)
Forfeiture of restricted stock	0		$ 0	0
Dividends, Preferred Stock	(12,557)				(12,557)
Distributions on common shares and units	(114,857)				(114,247)		(610)
Preferred distributions - consolidated joint venture	(186)								(186)
Redemption of preferred equity - consolidated joint venture	(45,583)								(45,583)
Balance (in shares) at Jun. 30, 2019		12,879,475	173,459,015
Balance at Jun. 30, 2019	3,337,001	$ 366,936	$ 1,735	3,182,351	(216,583)	(21,836)	10,441	13,957	0
Balance (in shares) at Mar. 31, 2019		12,879,475	173,667,027
Balance at Mar. 31, 2019	3,393,222	$ 366,936	$ 1,737	3,187,285	(187,092)	(191)	10,686	13,861	0
Increase (Decrease) in Owners' Equity
Net Income (Loss) Attributable to Parent	33,444
Net income (loss)	33,681						141	96	0
Unrealized loss on interest rate derivatives	(21,645)					(21,645)
Reclassification of unrealized gain on discontinued cash flow hedges to interest expense	0
Issuance of restricted stock (in shares)			259,408
Issuance of restricted stock	0		$ 3	(3)
Amortization of share-based compensation	3,204			3,204
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock (in shares)			(15,606)
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock	(290)		$ 0	(290)
Shares acquired as part of a share repurchase program (in shares)			(446,906)
Shares acquired as part of a share repurchase program	(7,850)		$ (5)	(7,845)
Forfeiture of restricted stock (in shares)			(4,908)
Forfeiture of restricted stock	0		$ 0	0
Dividends, Preferred Stock	(6,279)				(6,279)
Distributions on common shares and units	(57,042)				(56,656)		(386)
Preferred distributions - consolidated joint venture	0
Balance (in shares) at Jun. 30, 2019		12,879,475	173,459,015
Balance at Jun. 30, 2019	$ 3,337,001	$ 366,936	$ 1,735	$ 3,182,351	$ (216,583)	$ (21,836)	$ 10,441	$ 13,957	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities
Net income	$ 62,013	$ 88,286
Adjustments to reconcile net income to cash flow provided by operating activities:
Loss on sale of hotel properties and hotel properties held for sale, net	24,835	2,938
Gain (Loss) on Extinguishment of Debt	0	(7,666)
Depreciation and amortization	113,359	123,056
Amortization of deferred financing costs	1,902	1,808
Amortization of Debt Discount (Premium)	(967)	(1,857)
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	(55)	0
Income (Loss) from Equity Method Investments	2,784	(418)
Proceeds from Equity Method Investment, Distribution	1,051	814
Amortization of share-based compensation	5,760	5,686
Deferred income taxes	4,052	2,929
Changes in assets and liabilities:
Hotel and other receivables, net	(15,655)	(13,606)
Prepaid expense and other assets	596	16,884
Accounts payable and other liabilities	(6,559)	(15,385)
Advance deposits and deferred revenue	1,027	1,262
Accrued interest	(991)	(8,955)
Net cash flow provided by operating activities	193,152	195,776
Cash flows from investing activities
Proceeds from the sale of hotel properties, net	447,493	117,117
Improvements and additions to hotel properties	(90,145)	(85,045)
Additions to property and equipment	(163)	(30)
Cash Paid to Equity Method Investment, Contribution	(603)	0
Proceeds from Contributions from Affiliates	2,436	0
Net cash flow provided by investing activities	359,018	32,042
Cash flows from financing activities
Borrowings under Revolver	140,000	300,000
Repayments under Revolver	(140,000)	(50,000)
Repayments of Senior Notes	0	(539,021)
Proceeds from mortgage loans	381,000	0
Scheduled mortgage loan principal payments	(2,375)	(3,312)
Proceeds from (Repayments of) Secured Debt	(374,500)	0
Repurchase of common shares under a share repurchase program	(18,411)	0
Repurchase of common shares to satisfy employee tax withholding requirements	(656)	(998)
Payments of Ordinary Dividends, Preferred Stock and Preference Stock	(12,557)	(12,557)
Distributions on common shares	(114,737)	(115,525)
Distributions on Operating Partnership units	(611)	(524)
Stock Redeemed or Called During Period, Value	(9)	0
Payments of deferred financing costs	(4,636)	(3,615)
Payments of Distributions to Affiliates	(312)	(739)
Stock Redeemed or Called During Period, Value	(45,583)	0
Cash received from a noncontrolling interest	2,305	74
Net cash flow used in financing activities	(191,082)	(426,217)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	361,088	(198,399)
Cash, cash equivalents, and restricted cash reserves, beginning of year	384,842	659,076
Cash, cash equivalents, and restricted cash reserves, end of period	$ 745,930	$ 460,677

Organization

Organization	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization RLJ Lodging Trust (the "Company") was formed as a Maryland real estate investment trust ("REIT") on January 31, 2011. The Company is a self-advised and self-administered REIT that 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 June 30, 2019 , there were 174,231,758 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 June 30, 2019 , the Company owned 128 hotel properties with approximately 25,600 rooms, located in 23 states and the District of Columbia. The Company, through wholly-owned subsidiaries, owned a 100% interest in 124 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 126 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 127 of the 128

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
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, 2018 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, 2018 . 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, 2018 , included in the Company's Annual Report on Form 10-K filed with the SEC on March 1, 2019. 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. Derivative Financial Instruments In August 2017, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("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 simplifies the application of hedge accounting and it better aligns the financial reporting for hedging activities with the entity's economic and risk management activities. 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 Company adopted this new standard on January 1, 2019. Based on the Company's assessment, the adoption of this standard did not have a material impact on the Company's consolidated financial statements. Leases In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which provides the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The Company adopted this standard on January 1, 2019 using the modified retrospective transition approach. There are two methods of applying the modified retrospective transition approach and the Company elected to not adjust the comparative periods in the consolidated financial statements and footnotes, so the Company did not recognize a cumulative effect adjustment on the date of adoption. The comparative historical periods will be presented in accordance with ASC 840, Leases . As a lessee in a lease contract, the Company recognizes a lease right-of-use asset and a lease liability on the consolidated balance sheet. The Company is a lessee in a variety of lease contracts, such as ground leases, parking leases, office leases and equipment leases. The Company classifies its leases as either an operating lease or a finance lease based on the principle of whether or not the lease is effectively a financed purchase of the leased asset. For operating leases, the Company recognizes lease expense on a straight-line basis over the term of the lease. For finance leases, the Company recognizes lease expense on the effective interest method, which results in the interest component of each lease payment being recognized as interest expense and the lease right-of-use asset being amortized into amortization expense using the straight-line method over the term of the lease. For leases with an initial term of 12 months or less, the Company will not recognize a lease right-of-use asset and a lease liability on the consolidated balance sheet and lease expense will be recognized on a straight-line basis over the lease term. At the lease commencement date, the Company determines the lease term by incorporating the fixed, non-cancelable lease term plus any lease extension option terms that are reasonably certain of being exercised. The ability to extend the lease term is at the Company's sole discretion. The Company calculates the present value of the future lease payments over the lease term in order to determine the lease liability and the related lease right-of-use asset that is recognized on the consolidated balance sheet. Certain lease contracts may include an option to purchase the leased property, which is at the Company's sole discretion. The Company's lease contracts do not contain any material residual value guarantees or material restrictive covenants. The Company's leases include a base lease payment, which is recognized as lease expense on a straight-line basis over the lease term. In addition, certain of the Company's leases may include an additional lease payment that is based on either (i) a percentage of the respective hotel property's financial results, or (ii) the frequency to which the leased asset is used, or (iii) the lease payments are adjusted periodically for inflation; all of which are recognized as variable lease expense, when incurred, in the consolidated statements of operations and comprehensive income. The Company will use the implicit rate in a lease contract in order to determine the present value of the future lease payments over the lease term. If the implicit rate in the lease contract is not available, then the Company will use its incremental borrowing rate at the lease commencement date. The Company determined its incremental borrowing rate for each lease contract by using the U.S. Treasury interest rates yield curve, and then making adjustments for the lease term, the Company’s credit spread, the Company’s ability to borrow on a secured basis, the quality and condition of the leased asset and the current economic environment. For purposes of adopting ASC 842, the Company used its incremental borrowing rate on January 1, 2019 for the operating leases that commenced prior to that date. As a lessor in a lease contract, the Company classifies its leases as either an operating lease, direct financing lease, or a sales-type lease. The Company leases space at its hotel properties to third parties, who use the space for their restaurants or retail locations. The Company classifies these lease contracts as operating leases, so the Company will continue to recognize the underlying leased asset as an investment in hotel properties on the consolidated balance sheets. Lease revenue is recognized on a straight-line basis over the lease term. Variable lease revenue is recognized over the lease term when it is earned and becomes receivable from the lessee, according to the provisions of the respective lease contract. The Company only capitalizes the incremental direct costs of leasing, so any indirect costs of leasing will be expensed as incurred. The Company elected the following practical expedients in adopting the new standard: • The Company elected the package of practical expedients that allows the Company to not reassess: (i) whether any expired or existing contracts meet the definition of a lease; (ii) the lease classification for any expired or existing leases; and (iii) the initial direct costs for any existing leases. • The Company elected a practical expedient to make an accounting policy election to not recognize a right-of-use asset and a lease liability for leases with an initial term of 12 months or less. • The Company elected a practical expedient to allow the Company to not reassess whether an existing land easement not previously accounted for as a lease under ASC 840 would now be considered to be a lease under ASC 842. • The Company elected a practical expedient whereby lessors, by class of underlying asset, are not required to separate the nonlease components from the lease components, if certain conditions are met. Upon adoption of this standard on January 1, 2019, the Company recognized lease liabilities and the related lease right-of-use assets on the consolidated balance sheet for its ground leases, parking leases, office leases and equipment leases. In addition to recognizing the lease liabilities and the related lease right-of-use assets on the date of adoption, the Company reclassified its below market ground lease intangible assets from intangible assets, net on the consolidated balance sheet to the lease right-of-use assets. In addition, the Company reclassified its above market ground lease liabilities and deferred rent liabilities from accounts payable and other liabilities on the consolidated balance sheet to the lease right-of-use assets. The following table summarizes the impact of adopting this guidance on the consolidated balance sheet (in thousands): January 1, 2019 As Previously Reported Impact of the Adoption of ASC 842 As Adjusted Lease right-of-use assets $ — $ 150,803 $ 150,803 Intangible assets, net $ 52,448 $ (46,772 ) $ 5,676 Accounts payable and other liabilities $ 203,833 $ (20,704 ) $ 183,129 Lease liabilities $ — $ 124,735 $ 124,735 There was no impact to the Company’s consolidated statement of operations and comprehensive income and the consolidated statement of cash flows. Refer to Note 11, Commitments and Contingencies , for the Company's disclosures about its lease contracts. Recently Issued Accounting Pronouncements In August 2018, the SEC issued SEC Final Rule 33-10532, Disclosure Update and Simplification . The amendments 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 Company adopted the new disclosure requirement relating to changes in shareholders' equity for interim periods on January 1, 2019. Based on the Company's assessment, the adoption of the new disclosures did not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement

Investment in Hotel Properties

Investment in Hotel Properties	6 Months Ended
	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Investment in Hotel Properties	Investment in Hotel Properties Investment in hotel properties consisted of the following (in thousands): June 30, 2019 December 31, 2018 Land and improvements $ 1,097,192 $ 1,209,416 Buildings and improvements 4,075,456 4,694,490 Furniture, fixtures and equipment 674,840 813,797 5,847,488 6,717,703 Accumulated depreciation (1,141,378 ) (1,339,052 ) Investment in hotel properties, net $ 4,706,110 $ 5,378,651 For the three and six months ended June 30, 2019 , the Company recognized depreciation expense related to its investment in hotel properties of approximately $54.3 million and $112.0 million , respectively. For the three and six months ended June 30, 2018 , the Company recognized depreciation expense related to its investment in hotel properties of approximately $59.0 million and $117.9 million

Investment in Unconsolidated Jo

Investment in Unconsolidated Joint Ventures (Notes)	6 Months Ended
	Jun. 30, 2019
Investment in Unconsolidated Joint Ventures [Abstract]
Equity Method Investments and Joint Ventures Disclosure [Text Block]	Investment in Unconsolidated Joint Ventures As of June 30, 2019 and December 31, 2018 , the Company owned 50% interests in joint ventures that owned two hotel properties. As of December 31, 2018 , the Company also owned 50% interests in joint ventures that were associated with two resort hotel properties owned by the Company in Myrtle Beach, SC. In June 2019, the Company sold the two hotels and the joint ventures sold their assets. The Company recorded a loss of $2.9 million related to the sale, which is included in equity in (loss) income of unconsolidated entities in the accompanying consolidated statements of operations. Refer to Note 5 , Sale of Hotel Properties and Hotel Properties Held for Sale , for more information regarding the sale of the hotels. The Company accounts for the investments in these unconsolidated joint ventures under the equity method of accounting. The Company makes adjustments to the equity in 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 June 30, 2019 and December 31, 2018 , the unconsolidated joint ventures' debt consisted entirely of non-recourse mortgage debt. The following table summarizes the components of the Company's investments in unconsolidated joint ventures (in thousands): June 30, 2019 December 31, 2018 Equity basis of the joint venture investments $ (3,354 ) $ 117 Cost of the joint venture investments in excess of the joint venture book value 19,966 22,162 Investment in unconsolidated joint ventures $ 16,612 $ 22,279 The following table summarizes the components of the Company's equity in (loss) income from unconsolidated joint ventures (in thousands): For the three months ended June 30, For the six months ended June 30, 2019 2018 2019 2018 Operating income $ 858 $ 1,166 $ 845 $ 1,152 Depreciation of cost in excess of book value (338 ) (367 ) (706 ) (734 ) Loss on sale (2,923 ) — (2,923 ) — Equity in (loss) income from unconsolidated joint ventures $ (2,403 ) $ 799 $ (2,784 ) $ 418

Sale of Hotel Properties

Sale of Hotel Properties	6 Months Ended
	Jun. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Disposal of Hotel Properties	Sale of Hotel Properties and Hotel Properties Held for Sale During the six months ended June 30, 2019 , the Company sold 23 hotel properties in two separate transactions for a total sales price of approximately $465.3 million . The Company also entered into a purchase and sale agreement to sell a portfolio of 18 hotel properties and incurred a loss to write down the held-for-sale portfolio to its fair value less cost to sell. The sale of the 18-hotel portfolio is expected to close in August 2019. In conjunction with these transactions, the Company recorded a net loss of $24.8 million , which is included in (loss) gain on sale of hotel properties and hotel properties held for sale, net, in the accompanying consolidated statements of operations. On June 25, 2019, the Company sold a portfolio of 21 hotels for $311.9 million . In conjunction with this transaction, the Company recorded a gain on sale of $44.5 million , which is included in (loss) gain on sale of hotel properties and hotel properties held for sale, net, in the accompanying consolidated statements of operations. On June 27, 2019, the Company sold two resort hotels in Myrtle Beach, SC for $153.3 million . In conjunction with this transaction, the Company recorded a loss on sale of $21.3 million , which is included in (loss) gain on sale of hotel properties and hotel properties held for sale, net, in the accompanying consolidated statements of operations. The following table discloses the hotel properties that were sold during the six months ended June 30, 2019 : Hotel Property Name Location Sale Date Rooms Courtyard Boulder Longmont Longmont, CO June 25, 2019 78 Courtyard Salt Lake City Airport Salt Lake City, UT June 25, 2019 154 Courtyard Fort Lauderdale SW Miramar Miramar, FL June 25, 2019 128 Courtyard Austin Airport Austin, TX June 25, 2019 150 Fairfield Inn & Suites San Antonio Downtown San Antonio, TX June 25, 2019 110 Hampton Inn & Suites Clearwater St. Petersburg Clearwater, FL June 25, 2019 128 Hampton Inn Fort Walton Beach Fort Walton, FL June 25, 2019 100 Hampton Inn & Suites Denver Tech Center Denver, CO June 25, 2019 123 Hampton Inn West Palm Beach Airport Central West Palm Beach, FL June 25, 2019 105 Hilton Garden Inn Bloomington Bloomington, IN June 25, 2019 168 Hilton Garden Inn West Palm Beach Airport West Palm Beach, FL June 25, 2019 100 Hilton Garden Inn Durham Raleigh Research Triangle Park Durham, NC June 25, 2019 177 Residence Inn Longmont Boulder Longmont, CO June 25, 2019 84 Residence Inn Detroit Novi Novi, MI June 25, 2019 107 Residence Inn Chicago Oak Brook Oak Brook, IL June 25, 2019 156 Residence Inn Fort Lauderdale Plantation Plantation, FL June 25, 2019 138 Residence Inn Salt Lake City Airport Salt Lake City, UT June 25, 2019 104 Residence Inn San Antonio Downtown Market Square San Antonio, TX June 25, 2019 95 Residence Inn Fort Lauderdale SW Miramar Miramar, FL June 25, 2019 130 Residence Inn Silver Spring Silver Spring, MD June 25, 2019 130 Springhill Suites Boulder Longmont Longmont, CO June 25, 2019 90 Embassy Suites Myrtle Beach Oceanfront Resort Myrtle Beach, SC June 27, 2019 255 Hilton Myrtle Beach Resort Myrtle Beach, SC June 27, 2019 385 Total 3,195 In April 2019, the Company entered into a purchase and sale agreement to sell a portfolio of 18 hotel properties and the transaction is expected to close in August 2019. At June 30, 2019, these hotel properties have been included in hotel properties held for sale, net, in the accompanying consolidated balance sheets. For the three and six months ended June 30, 2019 , the Company recorded a loss of $48.1 million to write down the portfolio to its fair value less cost to sell, which is included in (loss) gain on sale of hotel properties and hotel properties held for sale, net, in the accompanying consolidated statements of operations and comprehensive income. The following table is a summary of the major classes of assets held for sale (in thousands): June 30, 2019 Land and improvements $ 32,453 Buildings and improvements 198,037 Furniture, fixtures and equipment 78,385 308,875 Accumulated depreciation (139,436 ) Hotel properties held for sale, net $ 169,439 During the six months ended June 30, 2018 , the Company sold two hotel properties for a total sale price of approximately $119.2 million . In connection with these transactions, the Company recorded an aggregate $3.8 million loss on sale, which is included in (loss) gain on sale of hotel properties and hotel properties held for sale, net, in the accompanying consolidated statement of operations and comprehensive income. The loss on sale is presented net of a gain on extinguishment of indebtedness of $5.1 million associated with the two hotel properties that were sold. The following table discloses the hotel properties that were sold during the six months ended June 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 Total 593

Revenue (Notes)

Revenue (Notes)	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Revenue The Company recognized revenue from the following geographic markets (in thousands): For the three months ended June 30, 2019 For the three months ended June 30, 2018 Room Revenue Food and Beverage Revenue Other Revenue Total Revenue Room Revenue Food and Beverage Revenue Other Revenue Total Revenue Northern California $ 52,222 $ 4,929 $ 1,585 $ 58,736 $ 62,658 $ 5,521 $ 2,144 $ 70,323 New York City 36,042 4,451 1,197 41,690 36,038 4,843 1,029 41,910 Southern California 33,082 3,544 2,524 39,150 33,605 4,228 2,149 39,982 South Florida 30,048 5,146 2,195 37,389 31,483 5,255 1,868 38,606 Austin 23,228 2,402 1,071 26,701 22,895 2,481 919 26,295 Chicago 22,132 3,553 577 26,262 21,573 3,506 519 25,598 Denver 18,263 3,321 397 21,981 19,142 3,198 371 22,711 Washington, DC 19,081 532 610 20,223 21,198 908 648 22,754 Louisville 13,879 4,530 593 19,002 12,339 3,997 583 16,919 Houston 15,524 1,018 1,223 17,765 16,847 969 1,121 18,937 Other 115,356 16,032 8,440 139,828 125,454 23,538 11,664 160,656 Total $ 378,857 $ 49,458 $ 20,412 $ 448,727 $ 403,232 $ 58,444 $ 23,015 $ 484,691 For the six months ended June 30, 2019 For the six months ended June 30, 2018 Room Revenue Food and Beverage Revenue Other Revenue Total Revenue Room Revenue Food and Beverage Revenue Other Revenue Total Revenue Northern California $ 103,103 $ 9,885 $ 3,006 $ 115,994 $ 116,927 $ 10,881 $ 3,881 $ 131,689 South Florida 74,694 10,994 4,252 89,940 78,263 10,987 3,697 92,947 Southern California 62,146 7,236 4,614 73,996 64,018 8,356 4,075 76,449 New York City 58,701 7,355 2,160 68,216 58,678 7,629 1,943 68,250 Austin 47,325 5,361 2,021 54,707 46,569 4,978 1,831 53,378 Chicago 35,038 6,517 1,013 42,568 34,516 6,438 893 41,847 Denver 31,393 6,166 704 38,263 33,790 6,237 603 40,630 Houston 31,776 1,982 2,393 36,151 33,427 1,950 2,050 37,427 Washington, DC 32,448 867 1,160 34,475 36,007 1,560 1,171 38,738 Louisville 23,269 8,360 1,123 32,752 20,597 7,100 1,056 28,753 Other 216,634 28,981 15,317 260,932 238,085 44,523 21,569 304,177 Total $ 716,527 $ 93,704 $ 37,763 $ 847,994 $ 760,877 $ 110,639 $ 42,769 $ 914,285

Debt

Debt	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt The Company's debt consisted of the following (in thousands): June 30, 2019 December 31, 2018 Senior Notes $ 502,959 $ 505,322 Revolver and Term Loans, net 1,169,982 1,169,165 Mortgage loans, net 527,781 528,189 Debt, net $ 2,200,722 $ 2,202,676 Senior Notes The Company's senior unsecured notes are referred to as the "Senior Notes". The Company's Senior Notes consisted of the following (in thousands): Outstanding Borrowings at Number of Assets Encumbered Interest Rate Maturity Date June 30, 2019 December 31, 2018 Senior unsecured notes (1) (2) (3) — 6.00% June 2025 $ 502,959 $ 505,322 (1) Requires payments of interest only through maturity. (2) The senior unsecured notes include $28.0 million and $30.3 million at June 30, 2019 and December 31, 2018 , respectively, related to fair value adjustments on the senior unsecured notes. (3) The Company has the option to redeem the senior unsecured notes beginning June 1, 2020 at a price of 103.0% of face value. The Senior Notes are subject to customary financial covenants. As of June 30, 2019 and December 31, 2018 , the Company was in compliance with all financial covenants. Revolver and Term Loans The Company has the following unsecured credit agreements in place: • $600.0 million revolving credit facility with a scheduled maturity date of 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"); and • $225.0 million term loan with a scheduled maturity date of January 25, 2023 (the "$225 Million Term Loan Maturing 2023"). 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 June 30, 2019 and December 31, 2018 , 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 June 30, 2019 (1) Maturity Date June 30, 2019 December 31, 2018 Revolver (2) 3.90% April 2020 $ — $ — $400 Million Term Loan Maturing 2021 3.10% 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 3.78% January 2023 400,000 400,000 $225 Million Term Loan Maturing 2023 3.78% January 2023 225,000 225,000 1,175,000 1,175,000 Deferred financing costs, net (3) (5,018 ) (5,835 ) Total Revolver and Term Loans, net $ 1,169,982 $ 1,169,165 (1) Interest rate at June 30, 2019 gives effect to interest rate hedges. (2) At both June 30, 2019 and December 31, 2018 , 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 $0.9 million and $1.5 million as of June 30, 2019 and December 31, 2018 , respectively, related to deferred financing costs on the Revolver, which are included in prepaid expense and other assets in the accompanying consolidated balance sheets. Mortgage Loans The Company's mortgage loans consisted of the following (in thousands): Outstanding Borrowings at Number of Assets Encumbered Interest Rate at June 30, 2019 (1) Maturity Date June 30, 2019 December 31, 2018 Mortgage loan (2) 7 3.33% April 2022 (7) 200,000 — Mortgage loan (3) 1 5.25% June 2022 31,638 32,066 Mortgage loan (4) 3 4.95% October 2022 90,512 91,737 Mortgage loan (5) 1 4.94% October 2022 29,175 29,569 Mortgage loan (2) (6) 4 3.42% March 2024 85,000 85,000 Mortgage loan (2) 3 4.00% April 2024 (8) 96,000 — Mortgage loan — — — (9) — 140,250 Mortgage loan — — — (10) — 150,000 19 532,325 528,622 Deferred financing costs, net (4,544 ) (433 ) Total mortgage loans, net $ 527,781 $ 528,189 (1) Interest rate at June 30, 2019 gives effect to interest rate hedges. (2) Requires payments of interest only through maturity. (3) Includes $0.5 million and $0.6 million at June 30, 2019 and December 31, 2018 , respectively, related to a fair value adjustment on a mortgage loan that was assumed in conjunction with an acquisition. (4) Includes $1.6 million and $1.9 million at June 30, 2019 and December 31, 2018 , respectively, related to fair value adjustments on the mortgage loans. (5) Includes $0.5 million and $0.6 million at June 30, 2019 and December 31, 2018 , respectively, related to a fair value adjustment on the mortgage loan. (6) The four hotels encumbered by the mortgage loan are cross-collateralized. In April 2019, the Company refinanced the $85.0 million mortgage loan for an amended interest rate of LIBOR + 1.60% and an amended maturity date of April 2026, inclusive of all extension options. The Company also replaced the five hotels that were encumbered by the mortgage loan with four other hotels. (7) In April 2019, the Company entered into a new mortgage loan that bears interest at LIBOR + 1.52% and provides two one year extension options. (8) In April 2019, the Company entered into a new mortgage loan that bears interest at LIBOR + 1.60% and provides two one year extension options. (9) In March 2019, the Company paid off the mortgage loan in full. (10) In April 2019, the Company paid off the mortgage loan in full. Certain mortgage agreements are subject to customary financial covenants. The Company was in compliance with all financial covenants at June 30, 2019 and December 31, 2018 . Interest Expense The components of the Company's interest expense consisted of the following (in thousands): For the three months ended June 30, For the six months ended June 30, 2019 2018 2019 2018 Senior Notes $ 5,944 $ 5,944 $ 11,888 $ 16,531 Revolver and Term Loans 10,838 11,809 20,991 22,387 Mortgage loans 5,150 6,810 10,573 13,418 Amortization of deferred financing costs 1,110 880 1,902 1,808 Undesignated interest rate swaps 2,195 — (55 ) — Total interest expense $ 25,237 $ 25,443 $ 45,299 $ 54,144

Derivatives and Hedging

Derivatives and Hedging	6 Months Ended
	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging	Derivatives and Hedging Activities The following interest rate swaps have been designated as cash flow hedges (in thousands): Notional value at Fair value at Hedge type Interest rate Maturity June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 Swap-cash flow 2.02% March 2019 $ — $ 125,000 $ — $ 148 Swap-cash flow 1.94% March 2019 — 100,000 — 136 Swap-cash flow 1.27% March 2019 — 125,000 — 447 Swap-cash flow 1.96% March 2019 — 100,000 — 153 Swap-cash flow 1.85% March 2019 — 50,000 — 93 Swap-cash flow 1.81% March 2019 — 50,000 — 99 Swap-cash flow 1.74% March 2019 — 25,000 — 54 Swap-cash flow (1) 1.80% September 2020 — 30,855 — 370 Swap-cash flow (1) 1.80% September 2020 — 76,670 — 919 Swap-cash flow (1) 1.80% September 2020 — 32,725 — 392 Swap-cash flow (1) 1.81% October 2020 — 143,000 — 1,808 Swap-cash flow 1.15% April 2021 100,000 100,000 1,055 3,072 Swap-cash flow 1.20% April 2021 100,000 100,000 959 2,955 Swap-cash flow 2.15% April 2021 75,000 75,000 (623 ) 539 Swap-cash flow 1.91% April 2021 75,000 75,000 (280 ) 967 Swap-cash flow 1.61% June 2021 50,000 50,000 73 1,057 Swap-cash flow 1.56% June 2021 50,000 50,000 132 1,129 Swap-cash flow 1.71% June 2021 50,000 50,000 (27 ) 934 Swap-cash flow 2.29% December 2022 200,000 200,000 (4,727 ) 938 Swap-cash flow 2.29% December 2022 125,000 125,000 (2,945 ) 607 Swap-cash flow 2.38% December 2022 200,000 200,000 (5,383 ) 259 Swap-cash flow 2.38% December 2022 100,000 100,000 (2,688 ) 139 Swap-cash flow (2) 2.75% November 2023 100,000 100,000 (3,522 ) (1,020 ) Swap-cash flow (3) 2.51% December 2023 75,000 — (2,060 ) — Swap-cash flow (3) 2.39% December 2023 75,000 — (1,800 ) — $ 1,375,000 $ 2,083,250 $ (21,836 ) $ 16,195 (1) During the six months ended June 30, 2019 , the Company discontinued accounting for these interest rate swaps as cash flow hedges because the hedged forecasted transactions were no longer probable of occurring as a result of debt paydowns in March and April 2019. Therefore, the Company reclassified approximately $2.3 million of the unrealized gains included in accumulated other comprehensive (loss) income to interest expense in the consolidated statements of operations and comprehensive income. (2) Effective in November 2020. (3) Effective in January 2021. The following interest rate swaps have not been designated as hedging instruments (in thousands): Notional value at Fair value at Derivative type Interest rate Maturity June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 Interest rate swap (1) 1.80% September 2020 $ 30,525 $ — $ 15 $ — Interest rate swap (1) 1.80% September 2020 75,850 — 35 — Interest rate swap (1) 1.80% September 2020 32,375 — 15 — Interest rate swap (1) 1.81% October 2020 143,000 — (10 ) — $ 281,750 $ — $ 55 $ — (1) During the six months ended June 30, 2019, the Company discontinued accounting for these interest rate swaps as cash flow hedges. The Company recognized all changes in the fair value of these interest rate swaps in interest expense in the consolidated statements of operations and comprehensive income. As of June 30, 2019 and December 31, 2018 , the aggregate fair value of the interest rate swap assets of $2.3 million and $17.2 million , respectively, was included in prepaid expense and other assets in the accompanying consolidated balance sheets. As of June 30, 2019 and December 31, 2018 , the aggregate fair value of the interest rate swap liabilities of $24.1 million and $1.0 million , respectively, was included in accounts payable and other liabilities in the accompanying consolidated balance sheets. As of June 30, 2019 , there was approximately $21.8 million of unrealized losses included in accumulated other comprehensive (loss) income related to interest rate hedges that are effective in offsetting the variable cash flows. As of December 31, 2018 , there was approximately $16.2 million of unrealized gains included in accumulated other comprehensive (loss) income related to interest rate hedges that are effective in offsetting the variable cash flows. There was no ineffectiveness recorded on the designated hedges during the three or six month periods ended June 30, 2019 or 2018 . For the three and six months ended June 30, 2019 , approximately $1.9 million and $4.4 million , respectively, of the amounts included in accumulated other comprehensive (loss) income were reclassified into interest expense for the interest rate swaps that have been designated as cash flow hedges. For the three and six months ended June 30, 2018 , approximately $0.7 million and $0.3 million , respectively, of the amounts included in accumulated other comprehensive income were reclassified into interest expense for the interest rate swaps that have been designated as cash flow hedges. Approximately $0.5 million of the unrealized losses included in accumulated other comprehensive (loss) income at June 30, 2019 is expected to be reclassified into interest expense within the next 12 months.

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2019
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): June 30, 2019 December 31, 2018 Carrying Value Fair Value Carrying Value Fair Value Senior Notes $ 502,959 $ 545,114 $ 505,322 $ 492,554 Revolver and Term Loans, net 1,169,982 1,176,583 1,169,165 1,175,000 Mortgage loans, net 527,781 538,275 528,189 528,404 Debt, net $ 2,200,722 $ 2,259,972 $ 2,202,676 $ 2,195,958 Recurring Fair Value Measurements The following table presents the Company’s fair value hierarchy for those financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2019 (in thousands): Fair Value at June 30, 2019 Level 1 Level 2 Level 3 Total Interest rate swap asset $ — $ 2,284 $ — $ 2,284 Interest rate swap liability — (24,065 ) — (24,065 ) Total $ — $ (21,781 ) $ — $ (21,781 ) The following table presents the Company’s fair value hierarchy for those financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 (in thousands): Fair Value at December 31, 2018 Level 1 Level 2 Level 3 Total Interest rate swap asset $ — $ 17,215 $ — $ 17,215 Interest rate swap liability — (1,020 ) — (1,020 ) Total $ — $ 16,195 $ — $ 16,195 The fair values of the derivative financial instruments are determined using widely accepted valuation techniques including a discounted cash flow analysis on the expected cash flows for each derivative. The Company determined that the significant inputs, such as interest yield curves and discount rates, used to value its derivatives fall within Level 2 of the fair value hierarchy and that the credit valuation adjustments associated with the Company’s counterparties and its own credit risk utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. As of June 30, 2019 , the Company assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and determined that the credit valuation adjustments were not significant to the overall valuation of its derivatives. As a result, the Company determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 and December 31, 2018 .

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Leases As of June 30, 2019 , 12 of the Company's hotel properties were subject to ground leases that cover the land underlying the respective hotels. The ground leases are classified as operating leases. During the three months ended June 30, 2019 , the total ground lease expense was $4.0 million , which consisted of $2.9 million of fixed lease expense and $1.1 million of variable lease expense. During the six months ended June 30, 2019 , the total ground lease expense was $7.8 million , which consisted of $5.8 million of fixed lease expense and $2.0 million of variable lease expense. The ground lease expense is included in property tax, insurance and other in the accompanying consolidated statements of operations and comprehensive income. The Residence Inn Chicago Oak Brook is subject to a ground lease with an initial term expiring in 2100. After the initial term, the Company may extend the ground lease for an additional term of 99 years . The ground lease expense was de minimis for the three and six months ended June 30, 2019 . The Company sold the Residence Inn Chicago Oak Brook on June 25, 2019. The Marriott Louisville Downtown is subject to a ground lease with an initial term expiring in 2053. After the initial term, the ground lease may be extended for up to four additional 25 year terms at the Company's option. The ground lease expense was de minimis for the three and six months ended June 30, 2019 . The Courtyard Austin Downtown Convention Center and Residence Inn Austin Downtown Convention Center are subject to a ground lease with a term expiring in 2100. For the three and six months ended June 30, 2019 , the ground lease expense was $0.2 million and $0.4 million , respectively. The Hilton Garden Inn Bloomington is subject to a ground lease with an initial term expiring in 2053. After the initial term, the ground lease automatically extends for up to five additional 10 year terms unless certain conditions are met. The ground lease expense was de minimis for the three and six months ended June 30, 2019 . The Company sold the Hilton Garden Inn Bloomington on June 25, 2019. A portion of the site of the Courtyard Charleston Historic District is subject to a ground lease with a term expiring in 2096. For the three and six months ended June 30, 2019 , the ground lease expense was $0.3 million and $0.5 million , respectively. The Courtyard Waikiki Beach is subject to a ground lease with a term expiring in 2112. For the three and six months ended June 30, 2019 , the ground lease expense was $0.9 million and $1.8 million , respectively. A portion of the site of the Residence Inn Palo Alto Los Altos is subject to a ground lease with a term expiring in 2033. The ground lease expense was de minimis for the three and six months ended June 30, 2019 . The DoubleTree Suites by Hilton Orlando Lake Buena Vista is subject to a ground lease with an initial term expiring in 2032. After the initial term, the Company may extend the ground lease for an additional term of 25 years to 2057. For the three and six months ended June 30, 2019 , the ground lease expense was $0.2 million and $0.5 million , respectively. The Embassy Suites San Francisco Airport Waterfront is subject to a ground lease with a term expiring in 2059. For the three and six months ended June 30, 2019 , the ground lease expense was $0.6 million and $1.2 million , respectively. The Wyndham Boston Beacon Hill is subject to a ground lease with a term expiring in 2028. For the three and six months ended June 30, 2019 , the ground lease expense was $0.3 million and $0.4 million , respectively. The Wyndham New Orleans French Quarter is subject to a ground lease with a term expiring in 2065. For the three and six months ended June 30, 2019 , the ground lease expense was $0.1 million and $0.2 million , respectively. The Wyndham Pittsburgh University Center is subject to a ground lease with an initial term expiring in 2038. After the initial term, the Company may extend the ground lease for up to five additional 9 year renewal terms to 2083. For the three and six months ended June 30, 2019 , the ground lease expense was $0.2 million and $0.4 million , respectively. The Wyndham San Diego Bayside is subject to a ground lease with a term expiring in 2029. For the three and six months ended June 30, 2019 , the ground lease expense was $1.2 million and $2.4 million , respectively. Certain of the Company's hotel properties are subject to long-term contracts to lease parking spaces. The parking leases are classified as operating leases. For the three and six months ended June 30, 2019 , the total parking lease expense was $0.1 million and $0.2 million , respectively, which is included in other operating expense in the accompanying consolidated statements of operations and comprehensive income. The Company is subject to an office lease for its corporate headquarters in Bethesda, Maryland with a term expiring in 2026. In addition, the Company is subject to an office lease in Dallas, Texas with a term expiring in 2027. The office leases are classified as operating leases. For the three and six months ended June 30, 2019 , the total office lease expense was $0.5 million and $0.9 million , respectively, which is included in general and administrative in the accompanying consolidated statements of operations and comprehensive income. The Company is subject to a number of equipment leases for copiers, printers, kitchen equipment, and vehicles. The equipment leases are classified as operating leases. For the three and six months ended June 30, 2019 , the total equipment lease expense was $0.3 million and $0.6 million , respectively, which is included in other operating expense in the accompanying consolidated statements of operations and comprehensive income. The future lease payments for the Company's operating leases were as follows (in thousands): June 30, 2019 December 31, 2018 2019 $ 5,553 $ 11,200 2020 11,141 11,257 2021 11,735 11,840 2022 10,124 10,218 2023 10,188 10,283 Thereafter 554,415 557,647 Total future lease payments 603,156 $ 612,445 Less: Imputed interest 480,757 Lease liabilities $ 122,399 The following table presents certain information related to the Company's operating leases as of June 30, 2019 : Weighted average remaining lease term 63 years Weighted average discount rate (1) 7.06 % (1) Upon adoption of the new lease accounting standard, the discount rates used for the Company's operating leases were determined at January 1, 2019. Restricted Cash Reserves The Company is obligated to maintain cash reserve funds for future capital expenditures at the hotels (including the periodic replacement or refurbishment of furniture, fixtures and equipment ("FF&E")) as determined pursuant to the management agreements, franchise agreements and/or mortgage loan documents. The management agreements, franchise agreements and/or mortgage loan documents require the Company to reserve cash ranging typically from 3.0% to 5.0% of the individual hotel’s revenues. Any unexpended amounts will remain the property of the Company upon termination of the management agreements, franchise agreements or mortgage loan documents. As of June 30, 2019 and December 31, 2018 , approximately $48.3 million and $64.7 million , respectively, was available in the restricted cash reserves for future capital expenditures, real estate taxes and insurance. Litigation Other than the legal proceeding mentioned below, neither the Company nor any of its subsidiaries is currently involved in any regulatory or legal proceedings that management believes will have a material and adverse effect on the Company's financial position, results of operations or cash flows. Prior to the Company's merger with FelCor, an affiliate of InterContinental Hotels Group PLC ("IHG"), which previously managed three of FelCor's hotels, notified FelCor that National Retirement Fund had assessed an employee withdrawal liability of $8.3 million , with required quarterly payments including interest, in connection with the termination of IHG’s management of those hotels. FelCor's management agreements with IHG stated that it may be obligated to indemnify and hold IHG harmless for some or all of any amount ultimately paid to National Retirement Fund with respect to the claim. Based on the current assessment of the claim, resolution of this matter may not occur until 2022. The Company plans to vigorously defend the claim and, if appropriate, IHG’s demand for indemnification. Management Agreements As of June 30, 2019 , 127 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 38 hotel properties that receive the benefits of a franchise agreement pursuant to management agreements with Hilton, Hyatt, Marriott, or Wyndham. 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 3.0% and 7.0% of hotel revenues. The management companies are also eligible to receive an incentive management fee if hotel operating income, as defined in the management agreements, exceeds certain thresholds. The incentive management fee is generally calculated as a percentage of hotel operating income after the Company has received a priority return on its investment in the hotel. Management fees are included in management and franchise fee expense in the accompanying consolidated statements of operations and comprehensive income. For the three and six months ended June 30, 2019 , the Company incurred management fee expense, including amortization of deferred management fees, of approximately $13.7 million and $27.8 million , respectively. For the three and six months ended June 30, 2018 , the Company incurred management fee expense, including amortization of deferred management fees, of approximately $15.1 million and $31.0 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 December 31, 2022, 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. In July 2019, the Company entered into a non-binding letter of intent and is finalizing a definitive agreement with Wyndham to terminate the management agreements and net operating income guarantee effective December 31, 2019. As currently drafted, the Company will receive a lump sum termination payment from Wyndham of $35.0 million , and an additional $1.0 million if the U.S. experiences a recession prior to December 31, 2022. Franchise Agreements As of June 30, 2019 , 88 of the Company’s hotel properties were operated under franchise agreements with initial terms ranging from 10 to 30 years. This number excludes 38 hotel properties that receive the benefits of a franchise agreement pursuant to management agreements with Hilton, Hyatt, Marriott, or Wyndham. In addition, one hotel is not operated with a hotel brand so it 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 six months ended June 30, 2019 , the Company incurred franchise fee expense of approximately $22.1 million and $42.1 million , respectively. For the three and six months ended June 30, 2018 , the Company incurred franchise fee expense of approximately $22.2 million and $41.9 million

Equity

Equity	6 Months Ended
	Jun. 30, 2019
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 common shares through December 31, 2016 (the "2015 Share Repurchase Program"). 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 2015 Share Repurchase Program to February 28, 2019. During the six months ended June 30, 2018 , the Company did not repurchase and retire any of its common shares under the share repurchase program. On February 15, 2019, the Company's board of trustees approved a new share repurchase program to acquire up to $250.0 million of common shares from March 1, 2019 to February 28, 2020 (the "2019 Share Repurchase Program"). During the six months ended June 30, 2019 , the Company repurchased and retired 1,049,215 common shares for approximately $18.4 million , of which $10.3 million was repurchased under the 2015 Share Repurchase Program and $8.1 million was repurchased under the 2019 Share Repurchase Program. As of June 30, 2019 , the 2019 Share Repurchase Program had a remaining capacity of $241.9 million . During the six months ended June 30, 2019 and 2018 , the Company declared a cash dividend of $0.33 per Common Share in each of the first and second quarters of 2019 and 2018. 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. 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 six months ended June 30, 2019 and 2018 , the Company declared a cash dividend of $0.4875 on each Series A Preferred Share in each of the first and second quarters of 2019 and 2018. Noncontrolling Interest in Consolidated Joint Ventures The Company consolidates the joint venture that owns the DoubleTree Metropolitan Hotel New York City hotel property, which has a third-party partner that owns a noncontrolling 1.7% ownership interest in the joint venture. In addition, the Company consolidates the joint venture that owns The Knickerbocker hotel property, which has a third-party partner that owns a noncontrolling 5% ownership interest in the joint venture. Lastly, the Company owns a controlling financial interest in the operating lessee of the Embassy Suites Secaucus Meadowlands hotel property, which has a third-party partner that owns a noncontrolling 49% ownership interest in the joint venture. The third-party ownership interests are included in the noncontrolling interest in consolidated joint ventures on the consolidated balance sheets. Noncontrolling Interest in the Operating Partnership The Company consolidates the Operating Partnership, which is a majority-owned limited partnership that has a noncontrolling interest. 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 of June 30, 2019 , 772,743 outstanding OP Units were 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 received a 3.25% annual return, plus a 0.25% non-compounding annual return that was paid upon redemption. The preferred equity raised by the joint venture is included in preferred equity in a consolidated joint venture on the consolidated balance sheets. On February 15, 2019, the Company redeemed the preferred equity in full.

Equity Incentive Plan

Equity Incentive Plan	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 is as follows: 2019 Number of Weighted-Average Unvested at January 1, 2019 740,792 $ 21.89 Granted (1) 530,436 18.69 Vested (117,532 ) 22.26 Forfeited (6,942 ) 21.57 Unvested at June 30, 2019 1,146,754 $ 20.37 (1) During the six months ended June 30, 2019 , the Company issued restricted shares to officers and employees that vest on an annual basis over service periods between 2 and 4 years. For the three and six months ended June 30, 2019 , the Company recognized approximately $2.2 million and $4.3 million , respectively, of share-based compensation expense related to restricted share awards. For the three and six months ended June 30, 2018 , the Company recognized approximately $2.3 million and $4.4 million , respectively, of share-based compensation expense related to restricted share awards. As of June 30, 2019 , there was $19.0 million of total unrecognized compensation costs related to unvested restricted share awards and these costs are expected to be recognized over a weighted-average period of 2.6 years. The total fair value of the shares vested (calculated as the number of shares multiplied by the vesting date share price) during the six months ended June 30, 2019 and 2018 was approximately $2.2 million and $3.0 million , respectively. Performance Units In May 2016, the Company awarded 280,000 performance units to certain employees. The performance units vested over a four years period, including three years of performance-based vesting ("measurement period") plus an additional 1 year of time-based vesting if the applicable performance criteria were met. In May 2019, following the end of the measurement period, the Company did not meet certain target criterion and no performance units were converted into restricted shares. 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 years period, including three years of performance-based vesting plus an additional one year of time-based vesting. In February 2019, the Company awarded 260,000 performance units with a grant date fair value of $19.16 per unit to certain employees. The performance units vest over a four years period, including three years of performance-based vesting (the "2019 performance units measurement period") plus an additional one year of time-based vesting. These performance units may convert into restricted shares at a range of 25% to 200% of the number of performance units granted contingent upon the Company achieving an absolute total shareholder return and a relative total shareholder return over the measurement period at specified percentiles of the peer group, as defined by the award. If at the end of the 2019 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 2019 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 2.52% , volatility of 27.19% , 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 six months ended June 30, 2019 , the Company recognized approximately $0.8 million and $1.5 million , respectively, of share-based compensation expense related to the performance unit awards. For the three and six months ended June 30, 2018 , the Company recognized approximately $0.8 million and $1.3 million , respectively, of share-based compensation expense related to the performance unit awards. As of June 30, 2019 , there was $6.6 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 2.7 years. As of June 30, 2019 , there were 2,457,662

Earnings per Common Share

Earnings per Common Share	6 Months Ended
	Jun. 30, 2019
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 six months ended June 30, 2019 and 2018 , since the limited partners’ share of income would also be added back to net income attributable to common shareholders. The computation of basic and diluted earnings per common share is as follows (in thousands, except share and per share data): For the three months ended June 30, For the six months ended June 30, 2019 2018 2019 2018 Numerator: Net income attributable to RLJ $ 33,444 $ 63,714 $ 60,697 $ 87,403 Less: Preferred dividends (6,279 ) (6,279 ) (12,557 ) (12,557 ) Less: Dividends paid on unvested restricted shares (378 ) (335 ) (690 ) (663 ) Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares $ 26,787 $ 57,100 $ 47,450 $ 74,183 Denominator: Weighted-average number of common shares - basic 172,661,878 174,238,854 172,729,064 174,216,387 Unvested restricted shares 104,213 125,693 79,449 99,961 Weighted-average number of common shares - diluted 172,766,091 174,364,547 172,808,513 174,316,348 Net income per share attributable to common shareholders - basic $ 0.16 $ 0.33 $ 0.27 $ 0.43 Net income per share attributable to common shareholders - diluted $ 0.16 $ 0.33 $ 0.27 $ 0.43

Supplemental Information to Sta

Supplemental Information to Statements of Cash Flows	6 Months Ended
	Jun. 30, 2019
Supplemental Cash Flow Elements [Abstract]
Supplemental Information to Statements of Cash Flows	Supplemental Information to Statements of Cash Flows (in thousands) For the six months ended June 30, 2019 2018 Reconciliation of cash, cash equivalents, and restricted cash reserves Cash and cash equivalents $ 697,600 $ 382,455 Restricted cash reserves 48,330 78,222 Cash, cash equivalents, and restricted cash reserves $ 745,930 $ 460,677 Interest paid $ 47,228 $ 65,290 Income taxes paid $ 2,506 $ 3,382 Operating cash flow lease payments for operating leases $ 7,489 Supplemental investing and financing transactions In conjunction with the sale of hotel properties, the Company recorded the following: Sale of hotel properties $ 456,831 $ 120,200 Transaction costs (4,435 ) (2,546 ) Operating prorations (4,903 ) (537 ) Proceeds from the sale of hotel properties, net $ 447,493 $ 117,117 Supplemental non-cash transactions Accrued capital expenditures $ 5,059 $ 14,176

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
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, 2018 , included in the Company's Annual Report on Form 10-K filed with the SEC on March 1, 2019. 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.
Derivatives, Policy [Policy Text Block]	Derivative Financial Instruments In August 2017, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("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 simplifies the application of hedge accounting and it better aligns the financial reporting for hedging activities with the entity's economic and risk management activities. 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 Company adopted this new standard on January 1, 2019. Based on the Company's assessment, the adoption of this standard did not have a material impact on the Company's consolidated financial statements.
Lessee, Leases [Policy Text Block]	In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which provides the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The Company adopted this standard on January 1, 2019 using the modified retrospective transition approach. There are two methods of applying the modified retrospective transition approach and the Company elected to not adjust the comparative periods in the consolidated financial statements and footnotes, so the Company did not recognize a cumulative effect adjustment on the date of adoption. The comparative historical periods will be presented in accordance with ASC 840, Leases . As a lessee in a lease contract, the Company recognizes a lease right-of-use asset and a lease liability on the consolidated balance sheet. The Company is a lessee in a variety of lease contracts, such as ground leases, parking leases, office leases and equipment leases. The Company classifies its leases as either an operating lease or a finance lease based on the principle of whether or not the lease is effectively a financed purchase of the leased asset. For operating leases, the Company recognizes lease expense on a straight-line basis over the term of the lease. For finance leases, the Company recognizes lease expense on the effective interest method, which results in the interest component of each lease payment being recognized as interest expense and the lease right-of-use asset being amortized into amortization expense using the straight-line method over the term of the lease. For leases with an initial term of 12 months or less, the Company will not recognize a lease right-of-use asset and a lease liability on the consolidated balance sheet and lease expense will be recognized on a straight-line basis over the lease term. At the lease commencement date, the Company determines the lease term by incorporating the fixed, non-cancelable lease term plus any lease extension option terms that are reasonably certain of being exercised. The ability to extend the lease term is at the Company's sole discretion. The Company calculates the present value of the future lease payments over the lease term in order to determine the lease liability and the related lease right-of-use asset that is recognized on the consolidated balance sheet. Certain lease contracts may include an option to purchase the leased property, which is at the Company's sole discretion. The Company's lease contracts do not contain any material residual value guarantees or material restrictive covenants. The Company's leases include a base lease payment, which is recognized as lease expense on a straight-line basis over the lease term. In addition, certain of the Company's leases may include an additional lease payment that is based on either (i) a percentage of the respective hotel property's financial results, or (ii) the frequency to which the leased asset is used, or (iii) the lease payments are adjusted periodically for inflation; all of which are recognized as variable lease expense, when incurred, in the consolidated statements of operations and comprehensive income. The Company will use the implicit rate in a lease contract in order to determine the present value of the future lease payments over the lease term. If the implicit rate in the lease contract is not available, then the Company will use its incremental borrowing rate at the lease commencement date. The Company determined its incremental borrowing rate for each lease contract by using the U.S. Treasury interest rates yield curve, and then making adjustments for the lease term, the Company’s credit spread, the Company’s ability to borrow on a secured basis, the quality and condition of the leased asset and the current economic environment. For purposes of adopting ASC 842, the Company used its incremental borrowing rate on January 1, 2019 for the operating leases that commenced prior to that date.
Lessor, Leases [Policy Text Block]	As a lessor in a lease contract, the Company classifies its leases as either an operating lease, direct financing lease, or a sales-type lease. The Company leases space at its hotel properties to third parties, who use the space for their restaurants or retail locations. The Company classifies these lease contracts as operating leases, so the Company will continue to recognize the underlying leased asset as an investment in hotel properties on the consolidated balance sheets. Lease revenue is recognized on a straight-line basis over the lease term. Variable lease revenue is recognized over the lease term when it is earned and becomes receivable from the lessee, according to the provisions of the respective lease contract. The Company only capitalizes the incremental direct costs of leasing, so any indirect costs of leasing will be expensed as incurred. The Company elected the following practical expedients in adopting the new standard: • The Company elected the package of practical expedients that allows the Company to not reassess: (i) whether any expired or existing contracts meet the definition of a lease; (ii) the lease classification for any expired or existing leases; and (iii) the initial direct costs for any existing leases. • The Company elected a practical expedient to make an accounting policy election to not recognize a right-of-use asset and a lease liability for leases with an initial term of 12 months or less. • The Company elected a practical expedient to allow the Company to not reassess whether an existing land easement not previously accounted for as a lease under ASC 840 would now be considered to be a lease under ASC 842. • The Company elected a practical expedient whereby lessors, by class of underlying asset, are not required to separate the nonlease components from the lease components, if certain conditions are met. Upon adoption of this standard on January 1, 2019, the Company recognized lease liabilities and the related lease right-of-use assets on the consolidated balance sheet for its ground leases, parking leases, office leases and equipment leases. In addition to recognizing the lease liabilities and the related lease right-of-use assets on the date of adoption, the Company reclassified its below market ground lease intangible assets from intangible assets, net on the consolidated balance sheet to the lease right-of-use assets. In addition, the Company reclassified its above market ground lease liabilities and deferred rent liabilities from accounts payable and other liabilities on the consolidated balance sheet to the lease right-of-use assets. The following table summarizes the impact of adopting this guidance on the consolidated balance sheet (in thousands): January 1, 2019 As Previously Reported Impact of the Adoption of ASC 842 As Adjusted Lease right-of-use assets $ — $ 150,803 $ 150,803 Intangible assets, net $ 52,448 $ (46,772 ) $ 5,676 Accounts payable and other liabilities $ 203,833 $ (20,704 ) $ 183,129 Lease liabilities $ — $ 124,735 $ 124,735 There was no impact to the Company’s consolidated statement of operations and comprehensive income and the consolidated statement of cash flows. Refer to Note 11, Commitments and Contingencies , for the Company's disclosures about its lease contracts.
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	The following table summarizes the impact of adopting this guidance on the consolidated balance sheet (in thousands): January 1, 2019 As Previously Reported Impact of the Adoption of ASC 842 As Adjusted Lease right-of-use assets $ — $ 150,803 $ 150,803 Intangible assets, net $ 52,448 $ (46,772 ) $ 5,676 Accounts payable and other liabilities $ 203,833 $ (20,704 ) $ 183,129 Lease liabilities $ — $ 124,735 $ 124,735
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 August 2018, the SEC issued SEC Final Rule 33-10532, Disclosure Update and Simplification . The amendments 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 Company adopted the new disclosure requirement relating to changes in shareholders' equity for interim periods on January 1, 2019. Based on the Company's assessment, the adoption of the new disclosures did not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement
Management Agreements	Management Agreements As of June 30, 2019 , 127 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 38 hotel properties that receive the benefits of a franchise agreement pursuant to management agreements with Hilton, Hyatt, Marriott, or Wyndham. 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 3.0% and 7.0% of hotel revenues. The management companies are also eligible to receive an incentive management fee if hotel operating income, as defined in the management agreements, exceeds certain thresholds. The incentive management fee is generally calculated as a percentage of hotel operating income after the Company has received a priority return on its investment in the hotel. Management fees are included in management and franchise fee expense in the accompanying consolidated statements of operations and comprehensive income. For the three and six months ended June 30, 2019 , the Company incurred management fee expense, including amortization of deferred management fees, of approximately $13.7 million and $27.8 million , respectively. For the three and six months ended June 30, 2018 , the Company incurred management fee expense, including amortization of deferred management fees, of approximately $15.1 million and $31.0 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 December 31, 2022, subject to an aggregate $100.0 million limit over the term and an annual $21.5 million
Franchise Agreements	Franchise Agreements As of June 30, 2019 , 88 of the Company’s hotel properties were operated under franchise agreements with initial terms ranging from 10 to 30 years. This number excludes 38 hotel properties that receive the benefits of a franchise agreement pursuant to management agreements with Hilton, Hyatt, Marriott, or Wyndham. In addition, one hotel is not operated with a hotel brand so it 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 six months ended June 30, 2019 , the Company incurred franchise fee expense of approximately $22.1 million and $42.1 million , respectively. For the three and six months ended June 30, 2018 , the Company incurred franchise fee expense of approximately $22.2 million and $41.9 million
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 six months ended June 30, 2019 and 2018 , since the limited partners’ share of income would also be added back to net income attributable to common shareholders.

Investment in Hotel Properties

Investment in Hotel Properties (Tables)	6 Months Ended
	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Schedule of investment in hotel properties	Investment in hotel properties consisted of the following (in thousands): June 30, 2019 December 31, 2018 Land and improvements $ 1,097,192 $ 1,209,416 Buildings and improvements 4,075,456 4,694,490 Furniture, fixtures and equipment 674,840 813,797 5,847,488 6,717,703 Accumulated depreciation (1,141,378 ) (1,339,052 ) Investment in hotel properties, net $ 4,706,110 $ 5,378,651

Investment in Unconsolidated _2

Investment in Unconsolidated Joint Ventures (Tables)	6 Months Ended
	Jun. 30, 2019
Schedule of components of investments in unconsolidated joint ventures [Abstract]
Schedule of Components of Investment In Unconsolidated Entities [Table Text Block]	The following table summarizes the components of the Company's investments in unconsolidated joint ventures (in thousands): June 30, 2019 December 31, 2018 Equity basis of the joint venture investments $ (3,354 ) $ 117 Cost of the joint venture investments in excess of the joint venture book value 19,966 22,162 Investment in unconsolidated joint ventures $ 16,612 $ 22,279
Schedule of Components of Equity In Income (Loss) from Unconsolidated Entities [Table Text Block]	The following table summarizes the components of the Company's equity in (loss) income from unconsolidated joint ventures (in thousands): For the three months ended June 30, For the six months ended June 30, 2019 2018 2019 2018 Operating income $ 858 $ 1,166 $ 845 $ 1,152 Depreciation of cost in excess of book value (338 ) (367 ) (706 ) (734 ) Loss on sale (2,923 ) — (2,923 ) — Equity in (loss) income from unconsolidated joint ventures $ (2,403 ) $ 799 $ (2,784 ) $ 418

Sale of Hotel Properties (Table

Sale of Hotel Properties (Tables)	6 Months Ended
	Jun. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Schedule of property disposed during period	The following table discloses the hotel properties that were sold during the six months ended June 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 Total 593
Summary of major assets held for sale	The following table is a summary of the major classes of assets held for sale (in thousands): June 30, 2019 Land and improvements $ 32,453 Buildings and improvements 198,037 Furniture, fixtures and equipment 78,385 308,875 Accumulated depreciation (139,436 ) Hotel properties held for sale, net $ 169,439

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	The Company recognized revenue from the following geographic markets (in thousands): For the three months ended June 30, 2019 For the three months ended June 30, 2018 Room Revenue Food and Beverage Revenue Other Revenue Total Revenue Room Revenue Food and Beverage Revenue Other Revenue Total Revenue Northern California $ 52,222 $ 4,929 $ 1,585 $ 58,736 $ 62,658 $ 5,521 $ 2,144 $ 70,323 New York City 36,042 4,451 1,197 41,690 36,038 4,843 1,029 41,910 Southern California 33,082 3,544 2,524 39,150 33,605 4,228 2,149 39,982 South Florida 30,048 5,146 2,195 37,389 31,483 5,255 1,868 38,606 Austin 23,228 2,402 1,071 26,701 22,895 2,481 919 26,295 Chicago 22,132 3,553 577 26,262 21,573 3,506 519 25,598 Denver 18,263 3,321 397 21,981 19,142 3,198 371 22,711 Washington, DC 19,081 532 610 20,223 21,198 908 648 22,754 Louisville 13,879 4,530 593 19,002 12,339 3,997 583 16,919 Houston 15,524 1,018 1,223 17,765 16,847 969 1,121 18,937 Other 115,356 16,032 8,440 139,828 125,454 23,538 11,664 160,656 Total $ 378,857 $ 49,458 $ 20,412 $ 448,727 $ 403,232 $ 58,444 $ 23,015 $ 484,691 For the six months ended June 30, 2019 For the six months ended June 30, 2018 Room Revenue Food and Beverage Revenue Other Revenue Total Revenue Room Revenue Food and Beverage Revenue Other Revenue Total Revenue Northern California $ 103,103 $ 9,885 $ 3,006 $ 115,994 $ 116,927 $ 10,881 $ 3,881 $ 131,689 South Florida 74,694 10,994 4,252 89,940 78,263 10,987 3,697 92,947 Southern California 62,146 7,236 4,614 73,996 64,018 8,356 4,075 76,449 New York City 58,701 7,355 2,160 68,216 58,678 7,629 1,943 68,250 Austin 47,325 5,361 2,021 54,707 46,569 4,978 1,831 53,378 Chicago 35,038 6,517 1,013 42,568 34,516 6,438 893 41,847 Denver 31,393 6,166 704 38,263 33,790 6,237 603 40,630 Houston 31,776 1,982 2,393 36,151 33,427 1,950 2,050 37,427 Washington, DC 32,448 867 1,160 34,475 36,007 1,560 1,171 38,738 Louisville 23,269 8,360 1,123 32,752 20,597 7,100 1,056 28,753 Other 216,634 28,981 15,317 260,932 238,085 44,523 21,569 304,177 Total $ 716,527 $ 93,704 $ 37,763 $ 847,994 $ 760,877 $ 110,639 $ 42,769 $ 914,285

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Schedule of Debt	The Company's debt consisted of the following (in thousands): June 30, 2019 December 31, 2018 Senior Notes $ 502,959 $ 505,322 Revolver and Term Loans, net 1,169,982 1,169,165 Mortgage loans, net 527,781 528,189 Debt, net $ 2,200,722 $ 2,202,676
Schedule of Revolver and Term Loans	The Company's unsecured credit agreements consisted of the following (in thousands): Outstanding Borrowings at Interest Rate at June 30, 2019 (1) Maturity Date June 30, 2019 December 31, 2018 Revolver (2) 3.90% April 2020 $ — $ — $400 Million Term Loan Maturing 2021 3.10% 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 3.78% January 2023 400,000 400,000 $225 Million Term Loan Maturing 2023 3.78% January 2023 225,000 225,000 1,175,000 1,175,000 Deferred financing costs, net (3) (5,018 ) (5,835 ) Total Revolver and Term Loans, net $ 1,169,982 $ 1,169,165 (1) Interest rate at June 30, 2019 gives effect to interest rate hedges. (2) At both June 30, 2019 and December 31, 2018 , 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 $0.9 million and $1.5 million as of June 30, 2019 and December 31, 2018 , respectively, related to deferred financing costs on the Revolver, which are included in prepaid expense and other assets in the accompanying consolidated balance sheets.
Schedule of mortgage loans	The Company's mortgage loans consisted of the following (in thousands): Outstanding Borrowings at Number of Assets Encumbered Interest Rate at June 30, 2019 (1) Maturity Date June 30, 2019 December 31, 2018 Mortgage loan (2) 7 3.33% April 2022 (7) 200,000 — Mortgage loan (3) 1 5.25% June 2022 31,638 32,066 Mortgage loan (4) 3 4.95% October 2022 90,512 91,737 Mortgage loan (5) 1 4.94% October 2022 29,175 29,569 Mortgage loan (2) (6) 4 3.42% March 2024 85,000 85,000 Mortgage loan (2) 3 4.00% April 2024 (8) 96,000 — Mortgage loan — — — (9) — 140,250 Mortgage loan — — — (10) — 150,000 19 532,325 528,622 Deferred financing costs, net (4,544 ) (433 ) Total mortgage loans, net $ 527,781 $ 528,189 (1) Interest rate at June 30, 2019 gives effect to interest rate hedges. (2) Requires payments of interest only through maturity. (3) Includes $0.5 million and $0.6 million at June 30, 2019 and December 31, 2018 , respectively, related to a fair value adjustment on a mortgage loan that was assumed in conjunction with an acquisition. (4) Includes $1.6 million and $1.9 million at June 30, 2019 and December 31, 2018 , respectively, related to fair value adjustments on the mortgage loans. (5) Includes $0.5 million and $0.6 million at June 30, 2019 and December 31, 2018 , respectively, related to a fair value adjustment on the mortgage loan. (6) The four hotels encumbered by the mortgage loan are cross-collateralized. In April 2019, the Company refinanced the $85.0 million mortgage loan for an amended interest rate of LIBOR + 1.60% and an amended maturity date of April 2026, inclusive of all extension options. The Company also replaced the five hotels that were encumbered by the mortgage loan with four other hotels. (7) In April 2019, the Company entered into a new mortgage loan that bears interest at LIBOR + 1.52% and provides two one year extension options. (8) In April 2019, the Company entered into a new mortgage loan that bears interest at LIBOR + 1.60% and provides two one year extension options. (9) In March 2019, the Company paid off the mortgage loan in full. (10) In April 2019, the Company paid off the mortgage loan in full.
Schedule of Interest Expense Components	The components of the Company's interest expense consisted of the following (in thousands): For the three months ended June 30, For the six months ended June 30, 2019 2018 2019 2018 Senior Notes $ 5,944 $ 5,944 $ 11,888 $ 16,531 Revolver and Term Loans 10,838 11,809 20,991 22,387 Mortgage loans 5,150 6,810 10,573 13,418 Amortization of deferred financing costs 1,110 880 1,902 1,808 Undesignated interest rate swaps 2,195 — (55 ) — Total interest expense $ 25,237 $ 25,443 $ 45,299 $ 54,144
Schedule of Senior Notes [Table Text Block]	The Company's senior unsecured notes are referred to as the "Senior Notes". The Company's Senior Notes consisted of the following (in thousands): Outstanding Borrowings at Number of Assets Encumbered Interest Rate Maturity Date June 30, 2019 December 31, 2018 Senior unsecured notes (1) (2) (3) — 6.00% June 2025 $ 502,959 $ 505,322 (1) Requires payments of interest only through maturity. (2) The senior unsecured notes include $28.0 million and $30.3 million at June 30, 2019 and December 31, 2018 , respectively, related to fair value adjustments on the senior unsecured notes. (3) The Company has the option to redeem the senior unsecured notes beginning June 1, 2020 at a price of 103.0% of face value.

Derivatives and Hedging (Tables

Derivatives and Hedging (Tables)	6 Months Ended
	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of interest rate swaps	The following interest rate swaps have been designated as cash flow hedges (in thousands): Notional value at Fair value at Hedge type Interest rate Maturity June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 Swap-cash flow 2.02% March 2019 $ — $ 125,000 $ — $ 148 Swap-cash flow 1.94% March 2019 — 100,000 — 136 Swap-cash flow 1.27% March 2019 — 125,000 — 447 Swap-cash flow 1.96% March 2019 — 100,000 — 153 Swap-cash flow 1.85% March 2019 — 50,000 — 93 Swap-cash flow 1.81% March 2019 — 50,000 — 99 Swap-cash flow 1.74% March 2019 — 25,000 — 54 Swap-cash flow (1) 1.80% September 2020 — 30,855 — 370 Swap-cash flow (1) 1.80% September 2020 — 76,670 — 919 Swap-cash flow (1) 1.80% September 2020 — 32,725 — 392 Swap-cash flow (1) 1.81% October 2020 — 143,000 — 1,808 Swap-cash flow 1.15% April 2021 100,000 100,000 1,055 3,072 Swap-cash flow 1.20% April 2021 100,000 100,000 959 2,955 Swap-cash flow 2.15% April 2021 75,000 75,000 (623 ) 539 Swap-cash flow 1.91% April 2021 75,000 75,000 (280 ) 967 Swap-cash flow 1.61% June 2021 50,000 50,000 73 1,057 Swap-cash flow 1.56% June 2021 50,000 50,000 132 1,129 Swap-cash flow 1.71% June 2021 50,000 50,000 (27 ) 934 Swap-cash flow 2.29% December 2022 200,000 200,000 (4,727 ) 938 Swap-cash flow 2.29% December 2022 125,000 125,000 (2,945 ) 607 Swap-cash flow 2.38% December 2022 200,000 200,000 (5,383 ) 259 Swap-cash flow 2.38% December 2022 100,000 100,000 (2,688 ) 139 Swap-cash flow (2) 2.75% November 2023 100,000 100,000 (3,522 ) (1,020 ) Swap-cash flow (3) 2.51% December 2023 75,000 — (2,060 ) — Swap-cash flow (3) 2.39% December 2023 75,000 — (1,800 ) — $ 1,375,000 $ 2,083,250 $ (21,836 ) $ 16,195 (1) During the six months ended June 30, 2019 , the Company discontinued accounting for these interest rate swaps as cash flow hedges because the hedged forecasted transactions were no longer probable of occurring as a result of debt paydowns in March and April 2019. Therefore, the Company reclassified approximately $2.3 million of the unrealized gains included in accumulated other comprehensive (loss) income to interest expense in the consolidated statements of operations and comprehensive income. (2) Effective in November 2020. (3) Effective in January 2021.

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2019
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): June 30, 2019 December 31, 2018 Carrying Value Fair Value Carrying Value Fair Value Senior Notes $ 502,959 $ 545,114 $ 505,322 $ 492,554 Revolver and Term Loans, net 1,169,982 1,176,583 1,169,165 1,175,000 Mortgage loans, net 527,781 538,275 528,189 528,404 Debt, net $ 2,200,722 $ 2,259,972 $ 2,202,676 $ 2,195,958
Schedule of fair value hierarchy for financial assets and liabilities measured at fair value on a recurring basis	The following table presents the Company’s fair value hierarchy for those financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2019 (in thousands): Fair Value at June 30, 2019 Level 1 Level 2 Level 3 Total Interest rate swap asset $ — $ 2,284 $ — $ 2,284 Interest rate swap liability — (24,065 ) — (24,065 ) Total $ — $ (21,781 ) $ — $ (21,781 ) The following table presents the Company’s fair value hierarchy for those financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 (in thousands): Fair Value at December 31, 2018 Level 1 Level 2 Level 3 Total Interest rate swap asset $ — $ 17,215 $ — $ 17,215 Interest rate swap liability — (1,020 ) — (1,020 ) Total $ — $ 16,195 $ — $ 16,195

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	6 Months Ended
	Jun. 30, 2019
Restricted share awards
Equity Incentive Plan
Summary of the unvested restricted shares	A summary of the unvested restricted shares as of June 30, 2019 is as follows: 2019 Number of Weighted-Average Unvested at January 1, 2019 740,792 $ 21.89 Granted (1) 530,436 18.69 Vested (117,532 ) 22.26 Forfeited (6,942 ) 21.57 Unvested at June 30, 2019 1,146,754 $ 20.37 (1) During the six months ended June 30, 2019 , the Company issued restricted shares to officers and employees that vest on an annual basis over service periods between 2 and 4

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted earnings per common share	The computation of basic and diluted earnings per common share is as follows (in thousands, except share and per share data): For the three months ended June 30, For the six months ended June 30, 2019 2018 2019 2018 Numerator: Net income attributable to RLJ $ 33,444 $ 63,714 $ 60,697 $ 87,403 Less: Preferred dividends (6,279 ) (6,279 ) (12,557 ) (12,557 ) Less: Dividends paid on unvested restricted shares (378 ) (335 ) (690 ) (663 ) Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares $ 26,787 $ 57,100 $ 47,450 $ 74,183 Denominator: Weighted-average number of common shares - basic 172,661,878 174,238,854 172,729,064 174,216,387 Unvested restricted shares 104,213 125,693 79,449 99,961 Weighted-average number of common shares - diluted 172,766,091 174,364,547 172,808,513 174,316,348 Net income per share attributable to common shareholders - basic $ 0.16 $ 0.33 $ 0.27 $ 0.43 Net income per share attributable to common shareholders - diluted $ 0.16 $ 0.33 $ 0.27 $ 0.43

Supplemental Information to S_2

Supplemental Information to Statements of Cash Flows (Tables)	6 Months Ended
	Jun. 30, 2019
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental information to statements of cash flows	For the six months ended June 30, 2019 2018 Reconciliation of cash, cash equivalents, and restricted cash reserves Cash and cash equivalents $ 697,600 $ 382,455 Restricted cash reserves 48,330 78,222 Cash, cash equivalents, and restricted cash reserves $ 745,930 $ 460,677 Interest paid $ 47,228 $ 65,290 Income taxes paid $ 2,506 $ 3,382 Operating cash flow lease payments for operating leases $ 7,489 Supplemental investing and financing transactions In conjunction with the sale of hotel properties, the Company recorded the following: Sale of hotel properties $ 456,831 $ 120,200 Transaction costs (4,435 ) (2,546 ) Operating prorations (4,903 ) (537 ) Proceeds from the sale of hotel properties, net $ 447,493 $ 117,117 Supplemental non-cash transactions Accrued capital expenditures $ 5,059 $ 14,176

Organization (Details)

Organization (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2019property	Dec. 31, 2018property	Jun. 30, 2019hotel	Jun. 30, 2019room	Jun. 30, 2019	Jun. 30, 2019state	Jun. 30, 2019shares	Jun. 30, 2016hotel
Sale of Stock
OP units outstanding (in units) | shares							174,231,758
Company's Ownership interest in OP units through a combination of direct and indirect interests (as a percent)	99.60%
Number of Real Estate Properties	128		12					38
Equity Method Investment, Ownership Percentage					50.00%
Number of hotel rooms owned | room				25,600
Number of states in which hotels owned by the entity are located | state						23
Doubletree Metropolitan Hotel New York City (Joint Venture)
Sale of Stock
Hotel property ownership interest (as a percent)	98.30%
Wholly Owned Properties [Member]
Sale of Stock
Number of Real Estate Properties	124
Hotel property ownership interest (as a percent)	100.00%
Consolidated Properties [Member]
Sale of Stock
Number of Real Estate Properties	126
Unconsolidated Properties [Member]
Sale of Stock
Number of Real Estate Properties	2	2,000
Equity Method Investment, Ownership Percentage		50.00%			50.00%
Leased Hotel Properties [Member]
Sale of Stock
Number of Real Estate Properties	127
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
Number of Real Estate Properties	2	2
Hotel property ownership interest (as a percent)	50.00%	50.00%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ in Thousands	Jun. 30, 2019USD ($)joint_venture	Jan. 01, 2019USD ($)	Dec. 31, 2018USD ($)
Summary of Significant Accounting Policies
Real Estate Interests, Number of Joint Ventures | joint_venture	2
Equity Method Investment, Ownership Percentage	50.00%
Operating Lease, Right-of-Use Asset	$ 147,023	$ 150,803	$ 0
Intangible Assets, Net (Excluding Goodwill)	173	5,676	52,448
Accounts payable and other liabilities	183,791	183,129	203,833
Operating Lease, Liability	$ 122,399	124,735	$ 0
Accounting Standards Update 2016-02 [Member]
Summary of Significant Accounting Policies
Operating Lease, Right-of-Use Asset		150,803
Intangible Assets, Net (Excluding Goodwill)		(46,772)
Accounts payable and other liabilities		(20,704)
Operating Lease, Liability		$ 124,735

Merger with FelCor Lodging Trus

Merger with FelCor Lodging Trust Incorporated (Details) $ / shares in Units, $ in Millions	Aug. 31, 2017$ / sharesshares	Jun. 30, 2019room$ / shares	Jun. 30, 2018USD ($)	Dec. 31, 2018$ / shares
Business Acquisition [Line Items]
Number of Units in Real Estate Property | room		25,600
Common Stock, Par or Stated Value Per Share		$ 0.01		$ 0.01
Preferred Stock, Par or Stated Value Per Share		0.01		0.01
Gross Proceeds from Sale of Real Estate Held-for-investment | $			$ 119.2
Series A Cumulative Preferred Stock [Member]
Business Acquisition [Line Items]
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	$ 28.49
Preferred Stock, Par or Stated Value Per Share		0.01		$ 0.01
RLJ Lodging Trust [Member] | Series A Cumulative Preferred Stock [Member]
Business Acquisition [Line Items]
Preferred Stock, Dividend Rate, Per-Dollar-Amount	$ 1.95	$ 1.95

Investment in Hotel Propertie_2

Investment in Hotel Properties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Jan. 01, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Assets, Current	$ 169,439		$ 169,439			$ 0
Buildings and improvements	4,075,456		4,075,456			4,694,490
Land and improvements	1,097,192		1,097,192			1,209,416
Accumulated depreciation	(1,141,378)		(1,141,378)			(1,339,052)
Furniture, fixtures and equipment	674,840		674,840			813,797
Investment in hotel properties, gross	5,847,488		5,847,488			6,717,703
Investment in hotel properties, net	4,706,110		4,706,110			5,378,651
Intangible Assets, Net (Excluding Goodwill)	173		173		$ 5,676	$ 52,448
Depreciation and amortization expense related to investment in hotel and other properties, excluding discontinued operations	$ (54,300)	$ (59,000)	$ (112,000)	$ (117,900)
Gross Proceeds from Sale of Real Estate Held-for-investment				$ 119,200

Investment in Unconsolidated _3

Investment in Unconsolidated Joint Ventures (Details)	Jun. 27, 2019USD ($)	Jun. 25, 2019USD ($)	Jun. 30, 2019USD ($)property	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)property	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)property	Jun. 30, 2019USD ($)	Jun. 30, 2019hotel	Jun. 30, 2019	Jun. 30, 2016hotel
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments			$ (2,403,000)	$ 799,000	$ (2,784,000)	$ 418,000
Equity Method Investments							$ 22,279,000	$ 16,612,000
Equity Method Investment, Ownership Percentage										50.00%
Number of Real Estate Properties			128		128				12		38
Gain (loss) on sale of hotel properties, net	$ (21,300,000)	$ 44,500,000	$ (24,835,000)	796,000	$ (24,835,000)	(2,938,000)
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		2,000
Equity Method Investments [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments			$ 858,000	1,166,000	$ 845,000	1,152,000
Equity Method Investments							$ 117,000	(3,354,000)
Cost in Excess of Book Value of Hotel Investments [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments			(338,000)	(367,000)	(706,000)	(734,000)
Equity Method Investments							$ 22,162,000	$ 19,966,000
Investment Income (Expense) [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments			$ (2,923,000)	$ 0	$ (2,923,000)	$ 0
Fifty Percent Owned [Member] | Partially Owned Properties [Member]
Schedule of Equity Method Investments [Line Items]
Number of Real Estate Properties | property			2		2		2
Real Estate Properties, Ownership Interest, Percentage					50.00%		50.00%
Disposals 2019 [Member]
Schedule of Equity Method Investments [Line Items]
Gain (loss) on sale of hotel properties, net			$ (2,900,000)

Sale of Hotel Properties (Narra

Sale of Hotel Properties (Narrative) (Details)	Jun. 27, 2019USD ($)hotel	Jun. 25, 2019USD ($)hotel	Jun. 30, 2019USD ($)property	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)propertyhotel	Jun. 30, 2018USD ($)hotel	Jun. 30, 2019hotel	Jun. 30, 2016hotel
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal of hotel properties						$ 119,200,000
Gain (Loss) on Extinguishment of Debt			$ 0	$ 7,000	$ 0	7,666,000
Number of Real Estate Properties			128		128		12	38
Loss on sale of hotel properties and hotel properties held for sale, net	$ 21,300,000	$ (44,500,000)	$ 24,835,000	$ (796,000)	$ 24,835,000	$ 2,938,000
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Real Estate Properties | hotel							18
Disposals 2019 [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Hotel properties sold, Number | hotel	2	21			23
Proceeds from Sale of Real Estate Held-for-investment	$ 153,300,000	$ 311,900,000			$ 465,300,000
Loss on sale of hotel properties and hotel properties held for sale, net			2,900,000
Disposals 2019 [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on sale of hotel properties and hotel properties held for sale, net			$ 48,100,000		$ 48,100,000
Disposals 2018 [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Hotel properties sold, Number | hotel						2
Loss on sale of hotel properties and hotel properties held for sale, net						$ 3,800,000
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

Sale of Hotel Properties (Sched

Sale of Hotel Properties (Schedule of Properties Disposed) (Details)	Jun. 27, 2019USD ($)	Jun. 25, 2019USD ($)	Jun. 30, 2019USD ($)room	Jun. 30, 2018USD ($)room	Jun. 30, 2019USD ($)room	Jun. 30, 2018USD ($)room	Mar. 27, 2018room	Feb. 21, 2018room
Discontinued operations
Gain (loss) on sale of hotel properties, net | $	$ (21,300,000)	$ 44,500,000	$ (24,835,000)	$ 796,000	$ (24,835,000)	$ (2,938,000)
Disposals 2019 [Member]
Discontinued operations
Property disposed, number of rooms			3,195		3,195
Gain (loss) on sale of hotel properties, net | $			$ (2,900,000)
Courtyard Boulder Longmont [Member]
Discontinued operations
Property disposed, number of rooms			78		78
Courtyard Salt Lake City Airport [Member]
Discontinued operations
Property disposed, number of rooms			154		154
Courtyard Fort Lauderdale SW Maramar [Member]
Discontinued operations
Property disposed, number of rooms			128		128
Courtyard Austin Airport [Member]
Discontinued operations
Property disposed, number of rooms			150		150
Fairfield Inn & Suites San Antonio Downtown [Member]
Discontinued operations
Property disposed, number of rooms			110		110
Hampton Inn & Suites Clearwater St. Petersburg [Member]
Discontinued operations
Property disposed, number of rooms			128		128
Hampton Inn Fort Walton Beach [Member]
Discontinued operations
Property disposed, number of rooms			100		100
Hampton Inn & Suites Denver Tech Center [Member]
Discontinued operations
Property disposed, number of rooms			123		123
Hampton Inn West Palm Beach Airport Central [Member]
Discontinued operations
Property disposed, number of rooms			105		105
Hilton Garden Inn Bloomington [Member]
Discontinued operations
Property disposed, number of rooms			168		168
Hilton Garden Inn West Palm Beach Airport [Member]
Discontinued operations
Property disposed, number of rooms			100		100
Hilton Garden Inn Durham Raleigh Research Triangle Park [Member]
Discontinued operations
Property disposed, number of rooms			177		177
Residence Inn Longmont Boulder [Member]
Discontinued operations
Property disposed, number of rooms			84		84
Residence Inn Detroit Novi [Member]
Discontinued operations
Property disposed, number of rooms			107		107
Residence Inn Chicago Oak Brook [Member]
Discontinued operations
Property disposed, number of rooms			156		156
Residence Inn Fort Lauderdale Plantation [Member]
Discontinued operations
Property disposed, number of rooms			138		138
Residence Inn Salt Lake City Airport [Member]
Discontinued operations
Property disposed, number of rooms			104		104
Residence Inn San Antonio Downtown Market Square [Member]
Discontinued operations
Property disposed, number of rooms			95		95
Residence Inn Fort Lauderdale SW Miramar [Member]
Discontinued operations
Property disposed, number of rooms			130		130
Residence Inn Silver Spring [Member]
Discontinued operations
Property disposed, number of rooms			130		130
Springhill Suites Boulder Longmont [Member]
Discontinued operations
Property disposed, number of rooms			90		90
Embassy Suites Myrtle Beach - Oceanfront Resort [Member]
Discontinued operations
Property disposed, number of rooms			255		255
Hilton Myrtle Beach Resort [Member]
Discontinued operations
Property disposed, number of rooms			385		385
Disposals 2018 [Member]
Discontinued operations
Property disposed, number of rooms				593		593
Gain (loss) on sale of hotel properties, net | $						$ (3,800,000)
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

Sale of Hotel Properties (Major

Sale of Hotel Properties (Major Assets Held For Sale) (Details) - Disposal Group, Held-for-sale, Not Discontinued Operations [Member] $ in Thousands	Jun. 30, 2019USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Hotel properties held for sale, gross	$ 308,875
Accumulated depreciation	(139,436)
Hotel properties held for sale, net	169,439
Land and improvements [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Hotel properties held for sale, gross	32,453
Buildings and improvements [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Hotel properties held for sale, gross	198,037
Furniture, fixtures and equipment [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Hotel properties held for sale, gross	$ 78,385

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 448,727	$ 484,691	$ 847,994	$ 914,285
Northern California
Disaggregation of Revenue [Line Items]
Revenues	58,736	70,323	115,994	131,689
South Florida
Disaggregation of Revenue [Line Items]
Revenues	37,389	38,606	89,940	92,947
Southern California
Disaggregation of Revenue [Line Items]
Revenues	39,150	39,982	73,996	76,449
Austin, Texas
Disaggregation of Revenue [Line Items]
Revenues	26,701	26,295	54,707	53,378
New York City
Disaggregation of Revenue [Line Items]
Revenues	41,690	41,910	68,216	68,250
Houston, Texas
Disaggregation of Revenue [Line Items]
Revenues	17,765	18,937	36,151	37,427
Denver, Colorado
Disaggregation of Revenue [Line Items]
Revenues	21,981	22,711	38,263	40,630
Chicago, Illinois
Disaggregation of Revenue [Line Items]
Revenues	26,262	25,598	42,568	41,847
Washington, D.C.
Disaggregation of Revenue [Line Items]
Revenues	20,223	22,754	34,475	38,738
Louisville, Kentucky
Disaggregation of Revenue [Line Items]
Revenues	19,002	16,919	32,752	28,753
Other Markets
Disaggregation of Revenue [Line Items]
Revenues	139,828	160,656	260,932	304,177
Occupancy [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	378,857	403,232	716,527	760,877
Occupancy [Member] | Northern California
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	52,222	62,658	103,103	116,927
Occupancy [Member] | South Florida
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	30,048	31,483	74,694	78,263
Occupancy [Member] | Southern California
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	33,082	33,605	62,146	64,018
Occupancy [Member] | Austin, Texas
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	23,228	22,895	47,325	46,569
Occupancy [Member] | New York City
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	36,042	36,038	58,701	58,678
Occupancy [Member] | Houston, Texas
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	15,524	16,847	31,776	33,427
Occupancy [Member] | Denver, Colorado
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	18,263	19,142	31,393	33,790
Occupancy [Member] | Chicago, Illinois
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	22,132	21,573	35,038	34,516
Occupancy [Member] | Washington, D.C.
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	19,081	21,198	32,448	36,007
Occupancy [Member] | Louisville, Kentucky
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	13,879	12,339	23,269	20,597
Occupancy [Member] | Other Markets
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	115,356	125,454	216,634	238,085
Food and Beverage [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	49,458	58,444	93,704	110,639
Food and Beverage [Member] | Northern California
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	4,929	5,521	9,885	10,881
Food and Beverage [Member] | South Florida
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	5,146	5,255	10,994	10,987
Food and Beverage [Member] | Southern California
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	3,544	4,228	7,236	8,356
Food and Beverage [Member] | Austin, Texas
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,402	2,481	5,361	4,978
Food and Beverage [Member] | New York City
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	4,451	4,843	7,355	7,629
Food and Beverage [Member] | Houston, Texas
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,018	969	1,982	1,950
Food and Beverage [Member] | Denver, Colorado
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	3,321	3,198	6,166	6,237
Food and Beverage [Member] | Chicago, Illinois
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	3,553	3,506	6,517	6,438
Food and Beverage [Member] | Washington, D.C.
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	532	908	867	1,560
Food and Beverage [Member] | Louisville, Kentucky
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	4,530	3,997	8,360	7,100
Food and Beverage [Member] | Other Markets
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	16,032	23,538	28,981	44,523
Hotel, Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	20,412	23,015	37,763	42,769
Hotel, Other [Member] | Northern California
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,585	2,144	3,006	3,881
Hotel, Other [Member] | South Florida
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,195	1,868	4,252	3,697
Hotel, Other [Member] | Southern California
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,524	2,149	4,614	4,075
Hotel, Other [Member] | Austin, Texas
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,071	919	2,021	1,831
Hotel, Other [Member] | New York City
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,197	1,029	2,160	1,943
Hotel, Other [Member] | Houston, Texas
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,223	1,121	2,393	2,050
Hotel, Other [Member] | Denver, Colorado
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	397	371	704	603
Hotel, Other [Member] | Chicago, Illinois
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	577	519	1,013	893
Hotel, Other [Member] | Washington, D.C.
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	610	648	1,160	1,171
Hotel, Other [Member] | Louisville, Kentucky
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	593	583	1,123	1,056
Hotel, Other [Member] | Other Markets
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 8,440	$ 11,664	$ 15,317	$ 21,569

Debt (Senior Notes, Term Loans,

Debt (Senior Notes, Term Loans, and Revolver) (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)asset	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)asset	Jun. 30, 2018USD ($)	Apr. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Debt
Repayments of Senior Notes			$ 0	$ 539,021,000
Gain (Loss) on Extinguishment of Debt	$ 0	$ 7,000	0	7,666,000
Debt, net	2,200,722,000		2,200,722,000			$ 2,202,676,000
Unsecured Debt, Gross	1,175,000,000		1,175,000,000			1,175,000,000
Unamortized debt issuance costs on term loans	$ (5,018,000)		$ (5,018,000)			(5,835,000)
Secured Debt [Member]
Debt
Number of Assets Encumbered | asset	19		19
Secured Debt	$ 527,781,000		$ 527,781,000			528,189,000
Unsecured Debt [Member]
Debt
Unsecured Debt	$ 1,169,982,000		$ 1,169,982,000			1,169,165,000
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	$ 502,959,000		$ 502,959,000			505,322,000
Senior Unsecured Notes [Member]
Debt
Debt Instrument, Redemption Price, Percentage			103.00%
Senior Unsecured Notes [Member] | Unsecured Debt [Member]
Debt
Debt Instrument, Fair Value Adjustment, Net	28,000,000		$ 28,000,000			30,300,000
The Revolver | Line of Credit
Debt
Maximum borrowing capacity	$ 600,000,000		$ 600,000,000
Additional maturity term			1 year
Unsecured Debt					$ 0	0
Interest Rate	3.90%		3.90%
Remaining borrowing capacity						600,000,000
Line of credit, future borrowing capacity if extended			$ 750,000,000
$400 Million Term Loan Maturing 2023 | 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	3.78%		3.78%
$225 Million Term Loan Maturing 2023 | 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	3.78%		3.78%
$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	3.10%		3.10%
$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%
Embassy Suites Boston Marlborough & Sheraton Philadelphia Society Hill [Member]
Debt
Gain (Loss) on Extinguishment of Debt				$ 5,100,000
Prepaid expenses and other assets
Debt
Deferred financing costs	$ 900,000		$ 900,000			$ 1,500,000

Debt (Mortgage Loans) (Details)

Debt (Mortgage Loans) (Details) $ in Thousands	1 Months Ended	6 Months Ended
	Apr. 30, 2019USD ($)hotelincrement	Jun. 30, 2019USD ($)hotelasset	Dec. 31, 2018USD ($)
Debt
Mortgage loans, gross		$ 532,325	$ 528,622
Unamortized debt issuance costs on mortgage loans		$ (4,544)	(433)
Secured Debt [Member]
Debt
Number of Assets Encumbered | asset		19
Mortgage loans, net		$ 527,781	528,189
Secured Debt [Member] | Four Point Nine Four Percent Due October 2022 [Member]
Debt
Debt Instrument, Fair Value Adjustment, Net		$ 500	600
Secured Debt [Member] | Wells Fargo Lender 2 [Member]
Debt
Number of Assets Encumbered | asset		0
Interest Rate		0.00%
Mortgage loans, net		$ 0	150,000
Secured Debt [Member] | Wells Fargo 1
Debt
Number of Assets Encumbered | asset		0
Interest Rate		0.00%
Mortgage loans, net		$ 0	140,250
Secured Debt [Member] | PNC Bank
Debt
Number of hotels encumbered by loans that are cross-collateralized | hotel	5	4
Secured Debt [Member] | Wells Fargo 3
Debt
Number of Assets Encumbered | asset		1
Interest Rate		5.25%
Mortgage loans, net		$ 31,638	32,066
Debt Instrument, Fair Value Adjustment, Net		500	600
Secured Debt [Member] | Four Point Nine Five Percent Due October 2022 [Member]
Debt
Debt Instrument, Fair Value Adjustment, Net		$ 1,600	1,900
Three Point Four Three Percent Due March 2024 [Member] | Secured Debt [Member]
Debt
Number of Assets Encumbered | asset		4
Mortgage loans, net		$ 85,000	85,000
Debt Instrument, Interest Rate, Stated Percentage		3.42%
Three Point Three Two Percent Due April 2022 [Member] | Secured Debt [Member]
Debt
Number of Assets Encumbered | asset		7
Mortgage loans, net		$ 200,000	0
Debt Instrument, Interest Rate, Stated Percentage		3.33%
Four Point Nine Five Percent Due October 2022 [Member] | Secured Debt [Member]
Debt
Number of Assets Encumbered | asset		3
Mortgage loans, net		$ 90,512	91,737
Debt Instrument, Interest Rate, Stated Percentage		4.95%
The Revolver | Line of Credit
Debt
Interest Rate		3.90%
Unsecured Debt	$ 0		0
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		$ 29,175	29,569
Debt Instrument, Interest Rate, Stated Percentage		4.94%
Libor Plus One Point Six Zero Percent due April 2026 [Member]
Debt
Mortgage loans, net	$ 85,000
Number of hotels encumbered by loans that are cross-collateralized | hotel	4
Debt Instrument, Description of Variable Rate Basis	LIBOR
Debt Instrument, Basis Spread on Variable Rate	1.60%
Four Point Zero Zero Percent Due April 2024 [Member] | Secured Debt [Member]
Debt
Number of Assets Encumbered | asset		3
Mortgage loans, net		$ 96,000	$ 0
Debt Instrument, Interest Rate, Stated Percentage		4.00%
LIBOR Plus One Point Five Two Percent [Member] | Secured Debt [Member]
Debt
Debt Instrument, Description of Variable Rate Basis	LIBOR
Debt Instrument, Basis Spread on Variable Rate	1.52%
Additional maturity term	1 year
Number of additional maturity terms | increment	2
LIBOR Plus One Point Six Zero Percent [Member] | Secured Debt [Member]
Debt
Debt Instrument, Description of Variable Rate Basis	LIBOR
Debt Instrument, Basis Spread on Variable Rate	1.60%
Additional maturity term	1 year
Number of additional maturity terms | increment	2

Debt (Components of Interest Ex

Debt (Components of Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Debt
Amortization of deferred financing costs	$ 1,110	$ 880	$ 1,902	$ 1,808
Unrealized Gain (Loss) on Cash Flow Hedging Instruments			(55)	0
Total Interest Expense	25,237	25,443	45,299	54,144
Senior Notes [Member]
Debt
Interest expense	5,944	5,944	11,888	16,531
Secured Debt [Member]
Debt
Interest expense	5,150	6,810	10,573	13,418
Revolver and Term Loans
Debt
Interest expense	10,838	11,809	20,991	22,387
AOCI Attributable to Parent [Member]
Debt
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	$ 2,195	$ 0	$ (55)	$ 0

Derivatives and Hedging (Detail

Derivatives and Hedging (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Interest Rate Derivatives
Notional value	$ 1,375,000,000		$ 1,375,000,000		$ 2,083,250,000
Unrealized Gain (Loss) on Cash Flow Hedging Instruments			55,000	$ 0
Unrealized gains (losses) included in accumulated other comprehensive loss	(21,800,000)		(21,800,000)		16,200,000
Amount of hedge ineffectiveness	0	$ 0	0	0
Reclassification of unrealized gain on discontinued cash flow hedges to interest expense	0	0	(2,250,000)	0
Net unrealized gains in accumulated other comprehensive income expected to be reclassified into interest expense within the next 12 months	(500,000)		(500,000)
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net	(21,836,000)		(21,836,000)		16,195,000
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Ten [Member]
Interest Rate Derivatives
Notional value	0		0		125,000,000
Interest Rate Cash Flow Hedge Asset at Fair Value	$ 0		$ 0		148,000
Interest rate	2.02%		2.02%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Eleven [Member]
Interest Rate Derivatives
Notional value	$ 0		$ 0		100,000,000
Interest Rate Cash Flow Hedge Asset at Fair Value	$ 0		$ 0		136,000
Interest rate	1.94%		1.94%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Twelve [Member]
Interest Rate Derivatives
Notional value	$ 0		$ 0		125,000,000
Interest Rate Cash Flow Hedge Asset at Fair Value	$ 0		$ 0		447,000
Interest rate	1.27%		1.27%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Thirteen [Member]
Interest Rate Derivatives
Notional value	$ 0		$ 0		100,000,000
Interest Rate Cash Flow Hedge Asset at Fair Value	$ 0		$ 0		153,000
Interest rate	1.96%		1.96%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Fourteen [Member]
Interest Rate Derivatives
Notional value	$ 0		$ 0		50,000,000
Interest Rate Cash Flow Hedge Asset at Fair Value	$ 0		$ 0		93,000
Interest rate	1.85%		1.85%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Fifteen [Member]
Interest Rate Derivatives
Notional value	$ 0		$ 0		50,000,000
Interest Rate Cash Flow Hedge Asset at Fair Value	$ 0		$ 0		99,000
Interest rate	1.81%		1.81%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Sixteen [Member]
Interest Rate Derivatives
Notional value	$ 0		$ 0		25,000,000
Interest Rate Cash Flow Hedge Asset at Fair Value	$ 0		$ 0		54,000
Interest rate	1.74%		1.74%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Seventeen [Member]
Interest Rate Derivatives
Notional value	$ 0		$ 0		30,855,000
Interest Rate Cash Flow Hedge Asset at Fair Value	$ 0		$ 0		370,000
Interest rate	1.80%		1.80%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Eighteen [Member]
Interest Rate Derivatives
Notional value	$ 0		$ 0		76,670,000
Interest Rate Cash Flow Hedge Asset at Fair Value	$ 0		$ 0		919,000
Interest rate	1.80%		1.80%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Nineteen [Member]
Interest Rate Derivatives
Notional value	$ 0		$ 0		32,725,000
Interest Rate Cash Flow Hedge Asset at Fair Value	$ 0		$ 0		392,000
Interest rate	1.80%		1.80%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Twenty [Member]
Interest Rate Derivatives
Notional value	$ 0		$ 0		143,000,000
Interest Rate Cash Flow Hedge Asset at Fair Value	$ 0		$ 0		1,808,000
Interest rate	1.81%		1.81%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Twenty Four [Member]
Interest Rate Derivatives
Notional value	$ 100,000,000		$ 100,000,000		100,000,000
Interest Rate Cash Flow Hedge Asset at Fair Value	$ 1,055,000		$ 1,055,000		3,072,000
Interest rate	1.15%		1.15%
Designated as Hedging Instrument | interest Rate, Swap Hedge, Type Twenty Five [Member]
Interest Rate Derivatives
Notional value	$ 100,000,000		$ 100,000,000		100,000,000
Interest Rate Cash Flow Hedge Asset at Fair Value	$ 959,000		$ 959,000		2,955,000
Interest rate	1.20%		1.20%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Twenty Six [Member]
Interest Rate Derivatives
Notional value	$ 75,000,000		$ 75,000,000		75,000,000
Interest Rate Cash Flow Hedge Liability at Fair Value	$ 623,000		$ 623,000
Interest Rate Cash Flow Hedge Asset at Fair Value					539,000
Interest rate	2.15%		2.15%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Twenty Seven [Member]
Interest Rate Derivatives
Notional value	$ 75,000,000		$ 75,000,000		75,000,000
Interest Rate Cash Flow Hedge Liability at Fair Value	$ 280,000		$ 280,000
Interest Rate Cash Flow Hedge Asset at Fair Value					967,000
Interest rate	1.91%		1.91%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Twenty-One [Member]
Interest Rate Derivatives
Notional value	$ 50,000,000		$ 50,000,000		50,000,000
Interest Rate Cash Flow Hedge Asset at Fair Value	$ 73,000		$ 73,000		1,057,000
Interest rate	1.61%		1.61%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Twenty Two [Member]
Interest Rate Derivatives
Notional value	$ 50,000,000		$ 50,000,000		50,000,000
Interest Rate Cash Flow Hedge Asset at Fair Value	$ 132,000		$ 132,000		1,129,000
Interest rate	1.56%		1.56%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Twenty Three [Member]
Interest Rate Derivatives
Notional value	$ 50,000,000		$ 50,000,000		50,000,000
Interest Rate Cash Flow Hedge Liability at Fair Value	$ 27,000		$ 27,000
Interest Rate Cash Flow Hedge Asset at Fair Value					934,000
Interest rate	1.71%		1.71%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Twenty Eight [Member]
Interest Rate Derivatives
Notional value	$ 200,000,000		$ 200,000,000		200,000,000
Interest Rate Cash Flow Hedge Liability at Fair Value	$ 4,727,000		$ 4,727,000
Interest Rate Cash Flow Hedge Asset at Fair Value					938,000
Interest rate	2.29%		2.29%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Twenty Nine [Member]
Interest Rate Derivatives
Notional value	$ 125,000,000		$ 125,000,000		125,000,000
Interest Rate Cash Flow Hedge Liability at Fair Value	$ 2,945,000		$ 2,945,000
Interest Rate Cash Flow Hedge Asset at Fair Value					607,000
Interest rate	2.29%		2.29%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Thirty [Member]
Interest Rate Derivatives
Notional value	$ 200,000,000		$ 200,000,000		200,000,000
Interest Rate Cash Flow Hedge Liability at Fair Value	$ 5,383,000		$ 5,383,000
Interest Rate Cash Flow Hedge Asset at Fair Value					259,000
Interest rate	2.38%		2.38%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Thirty One [Member]
Interest Rate Derivatives
Notional value	$ 100,000,000		$ 100,000,000		100,000,000
Interest Rate Cash Flow Hedge Liability at Fair Value	$ 2,688,000		$ 2,688,000
Interest Rate Cash Flow Hedge Asset at Fair Value					139,000
Interest rate	2.38%		2.38%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Thirty Two [Member]
Interest Rate Derivatives
Notional value	$ 100,000,000		$ 100,000,000		100,000,000
Interest Rate Cash Flow Hedge Liability at Fair Value	$ 3,522,000		$ 3,522,000		1,020,000
Interest rate	2.75%		2.75%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Thirty Three [Member]
Interest Rate Derivatives
Notional value	$ 75,000,000		$ 75,000,000		0
Interest Rate Cash Flow Hedge Liability at Fair Value	$ 2,060,000		$ 2,060,000
Interest Rate Cash Flow Hedge Asset at Fair Value					0
Interest rate	2.51%		2.51%
Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type Thirty Four [Member]
Interest Rate Derivatives
Notional value	$ 75,000,000		$ 75,000,000		0
Interest Rate Cash Flow Hedge Liability at Fair Value	$ 1,800,000		$ 1,800,000
Interest Rate Cash Flow Hedge Asset at Fair Value					0
Interest rate	2.39%		2.39%
Not Designated as Hedging Instrument
Interest Rate Derivatives
Notional value	$ 281,750,000		$ 281,750,000		0
Interest Rate Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net	55,000		55,000		0
Not Designated as Hedging Instrument | Interest Rate, Swap Hedge, Type One [Member]
Interest Rate Derivatives
Notional value	$ 30,525,000		$ 30,525,000		0
Interest rate	1.80%		1.80%
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value	$ 15,000		$ 15,000		0
Not Designated as Hedging Instrument | Swap-cash flow, hedge type two
Interest Rate Derivatives
Notional value	$ 75,850,000		$ 75,850,000		0
Interest rate	1.80%		1.80%
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value	$ 35,000		$ 35,000		0
Not Designated as Hedging Instrument | Swap-cash flow, hedge type three
Interest Rate Derivatives
Notional value	$ 32,375,000		$ 32,375,000		0
Interest rate	1.80%		1.80%
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value	$ 15,000		$ 15,000		0
Not Designated as Hedging Instrument | Swap-cash flow, hedge type four
Interest Rate Derivatives
Notional value	$ 143,000,000		$ 143,000,000		0
Interest rate	1.81%		1.81%
Interest Rate Derivative Instruments Not Designated as Heding Instruments, Liability at Fair Value	$ (10,000)		$ (10,000)		0
Interest Expense
Interest Rate Derivatives
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	2,300,000
Reclassification of unrealized gain on discontinued cash flow hedges to interest expense	1,900,000	$ 700,000	4,400,000	$ 300,000
Accounts payable and other liabilities | Interest rate swap
Interest Rate Derivatives
Interest Rate Cash Flow Hedge Liability at Fair Value	24,100,000		24,100,000		1,000,000
Prepaid expenses and other assets | Interest rate swap
Interest Rate Derivatives
Interest Rate Cash Flow Hedge Asset at Fair Value	$ 2,300,000		$ 2,300,000		$ 17,200,000

Fair Value (Details)

Fair Value (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net	$ (21,836,000)	$ 16,195,000
Debt, net	2,200,722,000	2,202,676,000
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Fair Value	2,259,972,000	2,195,958,000
Recurring | Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Interest rate swap asset	2,284,000	17,215,000
Interest rate swap liability	(24,065,000)	(1,020,000)
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net	(21,781,000)	16,195,000
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	2,284,000	17,215,000
Interest rate swap liability	(24,065,000)	(1,020,000)
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net	(21,781,000)	16,195,000
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	538,275,000	528,404,000
Senior Notes [Member] | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Fair Value	545,114,000	492,554,000
Unsecured Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Unsecured Debt	1,169,982,000	1,169,165,000
Unsecured Debt [Member] | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term Debt, Fair Value	1,176,583,000	1,175,000,000
Secured Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Secured Debt	$ 527,781,000	$ 528,189,000

Income Taxes (Details)

Income Taxes (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
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)	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2019USD ($)	Mar. 31, 2016USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)	Jun. 30, 2019property	Jun. 30, 2019USD ($)	Jun. 30, 2019hotel	Jun. 30, 2019	Jan. 01, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2016hotel
Loss Contingencies [Line Items]
Operating Leases, Future Minimum Payments, Remainder of Fiscal Year				$ 11,200,000		$ 5,553,000
Operating Lease, Weighted Average Remaining Lease Term	63 years		63 years
Number of Real Estate Properties					128		12				38
Wyndham NOI Guarantee over life of management agreement			$ 100,000,000
Pension Trust Litigation - Loss Contingency, Damages Sought		$ 8,300,000
Wyndham NOI Guarantee annual limit			21,500,000
Operating Leases, Rent Expense, Net	$ 4,000,000		7,800,000
Operating Leases, Rent Expense, Minimum Rentals	2,900,000		5,800,000
Operating Leases, Rent Expense, Contingent Rentals	$ 1,100,000		$ 2,000,000
Operating Lease, Weighted Average Discount Rate, Percent								7.06%
Operating Leases, Future Minimum Payments, Due in Two Years				11,257,000		11,141,000
Operating Leases, Future Minimum Payments, Due in Three Years				11,840,000		11,735,000
Operating Leases, Future Minimum Payments, Due in Four Years				10,218,000		10,124,000
Operating Leases, Future Minimum Payments, Due in Five Years				10,283,000		10,188,000
Operating Leases, Future Minimum Payments, Due Thereafter				557,647,000		554,415,000
Operating Leases, Future Minimum Payments Due				612,445,000		603,156,000
Lessee, Operating Lease, Liability, Undiscounted Excess Amount						480,757,000
Operating Lease, Liability				0		122,399,000			$ 124,735,000
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				$ 64,695,000		$ 48,330,000				$ 78,222,000
Residence Inn Chicago Oak Brook [Member]
Loss Contingencies [Line Items]
Ground Leases, Period of Each Additional Renewal Term				99 years
Marriott Louisville Downtown [Member]
Loss Contingencies [Line Items]
Lessee, Number of Renewal Options			4
Lessee, Operating Lease, Renewal Term	25 years		25 years
Courtyard Charleston Historic District [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	$ 300,000		$ 500,000
Courtyard Austin Downtown Convention Center and Residence Inn Austin Downtown Convention Center [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	$ 200,000		$ 400,000
Hilton Garden Inn Bloomington [Member]
Loss Contingencies [Line Items]
Lessee, Number of Renewal Options			5
Lessee, Operating Lease, Renewal Term	10 years		10 years
Courtyard Waikiki Beach [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	$ 900,000		$ 1,800,000
DoubleTree Suites by Hilton Orlando - Lake Buena Vista [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	$ 200,000		$ 500,000
Lessee, Operating Lease, Renewal Term	25 years		25 years
Embassy Suites San Francisco Airport Waterfront [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	$ 600,000		$ 1,200,000
Wyndham Boston Beacon Hill [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	300,000		400,000
Wyndham New Orleans French Quarter [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	100,000		200,000
Wyndham Pittsburgh University Center [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	$ 200,000		$ 400,000
Lessee, Number of Renewal Options			5
Lessee, Operating Lease, Renewal Term	9 years		9 years
Wyndham San Diego Bayside [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	$ 1,200,000		$ 2,400,000
Dallas & Bethesda Offices [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	500,000		900,000
Equipment [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	300,000		600,000
812930 Parking Lots and Garages [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	$ 100,000		$ 200,000
InterContinental Hotels Group PLC [Member]
Loss Contingencies [Line Items]
Number of Real Estate Properties | hotel											3

Commitments and Contingencies_2

Commitments and Contingencies (Management Agreements) (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)property	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)property	Jun. 30, 2018USD ($)	Jun. 30, 2019hotel	Jun. 30, 2016hotel
Other Commitments
NOI Guarantee Termination Payment			$ 35
Number of Hotel Properties Operated under Management Agreements | hotel					127
Number of Real Estate Properties	128		128		12	38
NOI Recession Guarantee			$ 1
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			3.00%
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	$ 13.7	$ 15.1	$ 27.8	$ 31

Commitments and Contingencies_3

Commitments and Contingencies (Franchise Agreements) (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)property	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)property	Jun. 30, 2018USD ($)	Jun. 30, 2019hotel	Jun. 30, 2016hotel
Other Commitments
Number of Hotel Properties Operated under Franchise Agreements | hotel					88
Number of Real Estate Properties	128		128		12	38
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 | $	$ 22.1	$ 22.2	$ 42.1	$ 41.9

Equity (Details)

Equity (Details) - USD ($)	Aug. 31, 2017	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2018	Feb. 15, 2019	Dec. 31, 2018	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					$ 250,000,000		$ 440,000,000	$ 400,000,000
Share repurchase program, additional authorized amount							$ 40,000,000
Common shares repurchased and retired (in shares)			1,049,215
Stock repurchased during the period, Value		$ 7,850,000	$ 18,411,000
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
Share repurchase program, remaining authorized amount		$ 241,900,000	$ 241,900,000
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)		446,906	1,049,215
Stock repurchased during the period, Value		$ 5,000	$ 10,000
Limited Partners
Equity, Class of Treasury Stock
Remaining limited partner ownership interest in Operating Partnership units (in shares)		772,743	772,743
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			$ 0.4875	$ 487.5
RLJ Lodging Trust [Member] | Series A Cumulative Preferred Stock [Member]
Equity, Class of Treasury Stock
Preferred Stock, Dividend Rate, Per-Dollar-Amount	$ 1.95		$ 1.95
DBT Met Hotel Venture LP [Member]
Equity, Class of Treasury Stock
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		1.70%	1.70%
The Knickerbocker New York [Member]
Equity, Class of Treasury Stock
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		5.00%	5.00%
Embassy Suites Secaucus [Member]
Equity, Class of Treasury Stock
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		49.00%	49.00%
Corporate Joint Venture [Member]
Equity, Class of Treasury Stock
Preferred Stock, Dividend Rate, Percentage			3.25%
Preferred Stock, Dividend Rate, Non-Compounding Rate Payable at Redemption, Percentage			0.25%
2015 Share Repurchase Program [Member]
Equity, Class of Treasury Stock
Stock repurchased during the period, Value			$ 10,300,000
2019 Share Repurchase Program [Member]
Equity, Class of Treasury Stock
Stock repurchased during the period, Value			$ 8,100,000

Equity Incentive Plan (Details)

Equity Incentive Plan (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended			3 Months Ended		6 Months Ended
	Feb. 28, 2019	Feb. 28, 2018	May 31, 2016	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
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)				2,457,662		2,457,662
Restricted share awards
Summary of non-vested shares/units
Unvested at the beginning of the period (in shares)						740,792
Granted (in shares)						530,436
Vested (in shares)						(117,532)
Forfeited (in shares)						(6,942)
Unvested at the end of the period (in shares)				1,146,754		1,146,754
Weighted Average Grant Date Fair Value
Unvested at the beginning of the period (in dollars per share)						$ 21.89
Granted (in dollars per share)						18.69
Vested (in dollars per share)						22.26
Forfeited (in dollars per share)						21.57
Unvested at the end of the period (in dollars per share)				$ 20.37		$ 20.37
Other Disclosures
Share-based compensation expense				$ 2.2	$ 2.3	$ 4.3	$ 4.4
Total unrecognized compensation costs				19		$ 19
Weighted-average period of recognition of unrecognized share-based compensation expense						2 years 7 months 6 days
Total fair value of shares vested						$ 2.2	3
Vesting period						4 years
2016 Performance Shares [Member]
Summary of non-vested shares/units
Granted (in shares)			280,000
Other Disclosures
Vesting period			4 years
Performance-based vesting period			3 years
Time-based vesting period			1 year
Restricted shares issued upon conversion of performance units (in shares)			0
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
2019 Performance Shares [Member]
Summary of non-vested shares/units
Granted (in shares)	260,000
Weighted Average Grant Date Fair Value
Granted (in dollars per share)	$ 19.16
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	2.52%
Fair value assumptions, expected volatility rate	27.19%
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				0.8	$ 0.8	$ 1.5	$ 1.3
Total unrecognized compensation costs				$ 6.6		$ 6.6
Weighted-average period of recognition of unrecognized share-based compensation expense						2 years 8 months 12 days
Minimum | Restricted share awards
Other Disclosures
Vesting period						2 years
Minimum | 2019 Performance Shares [Member]
Other Disclosures
Percentage of performance units that will convert into restricted shares	25.00%
Maximum | Restricted share awards
Other Disclosures
Vesting period						4 years
Maximum | 2019 Performance Shares [Member]
Other Disclosures
Percentage of performance units that will convert into restricted shares	200.00%

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Numerator:
Net Income (Loss) Attributable to Parent	$ 33,444	$ 63,714	$ 60,697	$ 87,403
Preferred Stock Dividends, Income Statement Impact	(6,279)	(6,279)	(12,557)	(12,557)
Less: Dividends paid on unvested restricted shares	(378)	(335)	(690)	(663)
Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares	$ 26,787	$ 57,100	$ 47,450	$ 74,183
Denominator:
Weighted-average number of common shares - basic (in shares)	172,661,878	174,238,854	172,729,064	174,216,387
Unvested restricted shares (in shares)	104,213	125,693	79,449	99,961
Weighted-average number of common shares - diluted (in shares)	172,766,091	174,364,547	172,808,513	174,316,348
Net income per share attributable to common shareholders - basic (in dollars per share)	$ 0.16	$ 0.33	$ 0.27	$ 0.43
Net income per share attributable to common shareholders - diluted (in dollars per share)	$ 0.16	$ 0.33	$ 0.27	$ 0.43

Supplemental Information to S_3

Supplemental Information to Statements of Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 697,600	$ 382,455	$ 320,147
Restricted cash reserves	48,330	78,222	64,695
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	745,930	460,677	$ 384,842	$ 659,076
Interest paid	47,228	65,290
Income taxes paid	2,506	3,382
Operating Lease, Payments	7,489
In conjunction with the sale of hotel properties, the Company recorded the following:
Sale of hotel properties	456,831	120,200
Transaction costs	(4,435)	(2,546)
Operating prorations	(4,903)	(537)
Proceeds from the sale of hotel properties, net	447,493	117,117
Supplemental non-cash transactions
Accrued capital expenditures	$ 5,059	$ 14,176