Hospitality Investors Trust (HPITQ) 10-K 16 Apr 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Apr. 15, 2019	Jun. 30, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	HOSPITALITY INVESTORS TRUST, INC.
Entity Central Index Key	0001583077
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		39,132,451
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 0
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Real estate investments:
Land	$ 337,858	$ 341,651
Buildings and improvements	1,947,619	1,921,396
Furniture, fixtures and equipment	257,314	226,242
Total real estate investments	2,542,791	2,489,289
Less: accumulated depreciation and amortization	(347,929)	(257,592)
Total real estate investments, net	2,194,862	2,231,697
Assets held for sale	0	5,586
Cash and cash equivalents	54,886	55,736
Restricted cash	27,959	63,444
Investments in unconsolidated entities	3,684	3,649
Below-market lease asset, net	9,030	9,428
Prepaid expenses and other assets	35,836	36,705
Goodwill	11,030	14,408
Total Assets	2,337,287	2,420,653
LIABILITIES, NON-CONTROLLING INTEREST AND EQUITY
Mortgage notes payable, net	1,507,509	1,495,777
Promissory note payable	0	1,000
Mandatorily redeemable preferred securities, net	219,596	233,058
Accounts payable and accrued expenses	62,965	67,452
Total Liabilities	1,790,070	1,797,287
Commitments and Contingencies
Contingently Redeemable Class C Units in operating partnership; 11,767,678 and 9,507,892 units issued and outstanding, respectively ($173,573 and $140,241 liquidation preference, respectively)	163,148	128,044
Stockholders' Equity
Preferred stock, $0.01 par value, 50,000,000 shares authorized, one share issued and outstanding	0	0
Common stock, $0.01 par value, 300,000,000 shares authorized, 39,134,628 and 39,505,742 shares issued and outstanding, respectively	391	395
Additional paid-in capital	870,251	871,840
Deficit	(489,108)	(379,559)
Total equity of Hospitality Investors Trust, Inc. stockholders	381,534	492,676
Non-controlling interest - consolidated variable interest entity	2,535	2,646
Total Stockholders' Equity	384,069	495,322
Total Liabilities, Contingently Redeemable Class C Units, and Stockholders' Equity	$ 2,337,287	$ 2,420,653

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Contingently redeemable class c units in operating partnership, shares issued (in shares)	11,767,678	9,507,892
Contingently redeemable class c units in operating partnership, shares outstanding (in shares)	11,767,678	9,507,892
Contingently redeemable class c units in operating partnership, liquidation preference	$ 173,573	$ 140,241
Preferred stock, par value (usd per share)	$ 0.01	$ 0.01
Preferred stock, authorized (shares)	50,000,000	50,000,000
Preferred stock, issued (shares)	1	1
Preferred stock, outstanding (shares)	1	1
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, authorized (shares)	300,000,000	300,000,000
Common stock, issued (shares)	39,134,628	39,505,742
Common stock, outstanding (shares)	39,134,628	39,505,742

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues
Total revenues	$ 606,059	$ 621,075	$ 599,592
Operating expenses
Management fees	16,757	23,643	42,560
Other property-level operating expenses	240,509	242,925	230,546
Acquisition and transaction related costs	64	498	25,270
General and administrative	19,831	18,889	15,806
Depreciation and amortization	111,730	105,237	101,007
Impairment of goodwill and long-lived assets	29,796	32,689	2,399
Rent	6,716	6,569	6,714
Total operating expenses	590,504	594,422	579,457
Operating income	15,555	26,653	20,135
Interest expense	(106,199)	(98,865)	(92,264)
Other income (expense)	1,798	(1,260)	1,169
Equity in earnings of unconsolidated entities	187	403	399
Total other expenses, net	(104,214)	(99,722)	(90,696)
Loss before taxes	(88,659)	(73,069)	(70,561)
Income tax expense (benefit)	(2,606)	(1,926)	1,371
Net loss and comprehensive loss	(86,053)	(71,143)	(71,932)
Less: Net income attributable to non-controlling interest	85	244	315
Net loss before dividends and accretion	(86,138)	(71,387)	(72,247)
Deemed dividend related to beneficial conversion feature of Class C Units	0	(4,535)	0
Dividends on Class C Units (cash and PIK)	(20,830)	(13,103)	0
Accretion of Class C Units	(2,581)	(1,668)	0
Net loss attributable to common stockholders	$ (109,549)	$ (90,693)	$ (72,247)
Basic and diluted net loss per share (usd per share)	$ (2.78)	$ (2.30)	$ (1.86)
Basic and diluted weighted average shares outstanding (shares)	39,416,947	39,411,677	38,732,949
Rooms
Revenues
Total revenues	$ 572,415	$ 588,308	$ 566,633
Operating expenses
Cost of services	148,630	147,814	139,169
Food and beverage
Revenues
Total revenues	19,571	19,811	20,039
Operating expenses
Cost of services	16,471	16,158	15,986
Other
Revenues
Total revenues	$ 14,073	$ 12,956	$ 12,920

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($)	Total	Common Stock	Additional Paid-in Capital	Deficit	Total Equity of Hospitality Investors Trust, Inc. Stockholders	Non-controlling Interest
Beginning balance (in shares) at Dec. 31, 2015		36,300,777
Beginning balance at Dec. 31, 2015	$ 641,209,000	$ 363,000	$ 793,786,000	$ (155,680,000)	$ 638,469,000	$ 2,740,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net (in shares)		61,181
Issuance of common stock, net	1,147,000	$ 1,000	1,146,000		1,147,000
Net loss attributable to Hospitality Investors Trust, Inc.	(72,247,000)			(72,247,000)	(72,247,000)
Net income attributable to non-controlling interest	315,000					315,000
Dividends paid or declared (in shares)		1,732,822
Dividends paid or declared	(20,505,000)	$ 17,000	38,697,000	(58,925,000)	(20,211,000)	(294,000)
PIK distributions on Class C Units	0
Common stock issued through Distribution Reinvestment Plan (in shares)		398,650
Common stock issued through Distribution Reinvestment Plan	9,468,000	$ 4,000	9,464,000		9,468,000
Share-based payments	66,000		66,000		66,000
Common stock offering costs, commissions and dealer manager fees	(10,000)		(10,000)		(10,000)
Ending balance (in shares) at Dec. 31, 2016		38,493,430
Ending balance at Dec. 31, 2016	559,443,000	$ 385,000	843,149,000	(286,852,000)	556,682,000	2,761,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net (in shares)		1,125,403
Issuance of common stock, net	$ 18,608,000	$ 11,000	18,597,000		18,608,000
Repurchase and retirement of common stock (shares)	(113,091)	(113,091)
Repurchase and retirement of common stock	$ (763,366)	$ (1,000)	(762,000)		(763,000)
Net loss attributable to Hospitality Investors Trust, Inc.	(71,387,000)			(71,387,000)	(71,387,000)
Net income attributable to non-controlling interest	244,000					244,000
Dividends paid or declared (in shares)		0
Dividends paid or declared	(2,373,000)	$ 0	0	(2,014,000)	(2,014,000)	(359,000)
Deemed dividend related to beneficial conversion feature of Class C Units			4,535,000	(4,535,000)
Cash distributions on Class C Units	(7,862,000)			(7,862,000)	(7,862,000)
Accretion on Class C Units	(1,668,000)			(1,668,000)	(1,668,000)
PIK distributions on Class C Units	(5,241,000)			(5,241,000)	(5,241,000)
Share-based payments	499,000		499,000		499,000
Waiver of obligation from Former Advisor	$ 5,822,000		5,822,000		5,822,000
Ending balance (in shares) at Dec. 31, 2017	39,505,742	39,505,742
Ending balance at Dec. 31, 2017	$ 495,322,000	$ 395,000	871,840,000	(379,559,000)	492,676,000	2,646,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase and retirement of common stock (shares)		(378,324)
Repurchase and retirement of common stock	(3,075,000)	$ (4,000)	(3,071,000)		(3,075,000)
Net loss attributable to Hospitality Investors Trust, Inc.	(86,138,000)			(86,138,000)	(86,138,000)
Net income attributable to non-controlling interest	85,000					85,000
Dividends paid or declared (in shares)		0
Dividends paid or declared	(196,000)	$ 0	0	0	0	(196,000)
Cash distributions on Class C Units	(12,498,000)			(12,498,000)	(12,498,000)
Accretion on Class C Units	(2,581,000)			(2,581,000)	(2,581,000)
PIK distributions on Class C Units	(8,332,000)			(8,332,000)	(8,332,000)
Share-based payments (in shares)		7,210
Share-based payments	$ 1,482,000		1,482,000		1,482,000
Ending balance (in shares) at Dec. 31, 2018	39,134,628	39,134,628
Ending balance at Dec. 31, 2018	$ 384,069,000	$ 391,000	$ 870,251,000	$ (489,108,000)	$ 381,534,000	$ 2,535,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net loss	$ (86,053)	$ (71,143)	$ (71,932)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	111,730	105,237	101,007
Impairment of goodwill and long-lived assets	29,796	32,689	2,399
Amortization and write-off of deferred financing costs	12,639	11,339	9,547
Loss of acquisition deposits	0	0	22,000
Other adjustments, net	2,033	2,065	(721)
Changes in assets and liabilities:
Prepaid expenses and other assets	(756)	(2,348)	2,982
Due to related parties	0	(2,879)	(3,399)
Accounts payable and accrued expenses	(2,607)	5,252	6,352
Net cash provided by operating activities	66,782	80,212	68,235
Cash flows from investing activities:
Payment received on note for sale of hotel	1,625	0	0
Acquisition of hotel assets, net of cash received	0	(60,043)	(69,892)
Proceeds from sales of hotels, net	5,461	11,525	12,710
Real estate investment improvements and purchases of property and equipment	(103,155)	(78,935)	(91,311)
Payments related to Property Management Transactions	(1,000)	(13,000)	0
Other adjustments, net	35	(581)	0
Net cash used in investing activities	(97,034)	(141,034)	(148,493)
Cash flows from financing activities:
Proceeds from issuance of common stock, net	0	0	678
Repurchase of shares of common stock	(3,075)	(763)	0
Proceeds from Class C Units	25,000	135,000	0
Payment of Class C Units issuance costs	(944)	(13,866)	0
Payments of offering costs	0	0	(1,055)
Dividends/Distributions paid	(12,694)	(8,221)	(11,500)
Repayments of promissory and mortgage notes payable	0	(1,030,622)	(13,473)
Repayment of Contingent Consideration	0	(4,620)	0
Mandatorily redeemable preferred securities redemptions	(14,370)	(56,071)	(4,335)
Proceeds from mortgage notes payable	0	1,101,000	70,384
Deferred financing fees	0	(19,672)	(721)
Net cash provided by (used in) financing activities	(6,083)	102,165	39,978
Net change in cash and cash equivalents and restricted cash	(36,335)	41,343	(40,280)
Cash and cash equivalents and restricted cash, beginning of period	119,180	77,837	118,117
Cash and cash equivalents and restricted cash, end of period	82,845	119,180	77,837
Supplemental disclosure of cash flow information:
Interest paid	94,336	88,392	84,683
Income taxes paid	802	1,865	763
Non-cash investing and financing activities:
Deemed dividend related to beneficial conversion feature of Class C Units	0	(4,535)	0
Accretion of Class C Units	(2,581)	(1,668)	0
PIK distributions on Class C Units	(8,332)	(5,241)	0
Waiver of Obligation from Former Advisor	0	(5,822)	0
Class B Units in operating partnership converted and redeemed for Common Stock	0	7,659	0
Note payable to Former Property Manager	0	1,000	0
Common stock issued to Former Property Manager	0	4,076	0
Real estate investment improvements and purchases of property and equipment in accounts payable and accrued expenses	12,522	14,267	12,478
Seller financed acquisition	0	0	20,000
Seller financed acquisition deposit	0	0	7,500
Dividends declared but not paid	0	0	4,765
Common stock issued through distribution reinvestment plan	$ 0	$ 0	$ 9,468

Organization

Organization	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Hospitality Investors Trust, Inc. (the "Company"), incorporated on July 25, 2013 , is a self-managed real estate investment trust ("REIT") that invests primarily in premium-branded select-service lodging properties in the United States. As of December 31, 2018 , the Company owns or has an interest in a total of 144 hotels with a total of 17,321 guest rooms located in 33 states. As of December 31, 2018 , all but one of these hotels operated under a franchise or license agreement with a national brand owned by one of Hilton Worldwide, Inc., Marriott International, Inc., Hyatt Hotels Corporation, and Intercontinental Hotels Group or one of their respective subsidiaries or affiliates. The Company's one unbranded hotel has a direct affiliation with a leading university in Atlanta. The Company conducted its initial public offering ("IPO"), from January 2014 until November 2015 without listing shares of its common stock on a national securities exchange, and it has not subsequently listed its shares. There currently is no established trading market for the Company’s shares and there may never be one. The Company is required to annually publish an Estimated Per-Share NAV pursuant to the rules and regulations of the Financial Industry Regulatory Authority. On April 23, 2018, the Company's board of directors unanimously approved an updated estimated net asset value per share of common stock ("Estimated Per-Share NAV") equal to $13.87 based on an estimated fair value of the Company's assets less the estimated fair value of the Company's liabilities, divided by 39,505,742 shares of common stock outstanding on a fully diluted basis as of December 31, 2017. The Company expects to publish its next annual Estimated Per-Share NAV during the second quarter of 2019. Substantially all of the Company’s business is conducted through its operating partnership, Hospitality Investors Trust Operating Partnership, L.P. (the "OP"). On January 12, 2017, the Company, along with the OP, entered into the Securities Purchase, Voting and Standstill Agreement ("SPA") with Brookfield Strategic Real Estate Partners II Hospitality REIT II LLC (the "Brookfield Investor), to secure a commitment of up to $400 million by the Brookfield Investor to make capital investments in the Company necessary for the Company to meet its short-term and long-term liquidity requirements and obligations by purchasing units of limited partner interest in the OP entitled “Class C Units” (“Class C Units”) through February 2019. Following the final closing pursuant to the SPA on February 27, 2019 (the "Final Closing"), the Brookfield Investor no longer has any obligations or rights to purchase Class C Units pursuant to the SPA or otherwise. The Brookfield Investor holds all the issued and outstanding Class C Units and the sole issued and outstanding Redeemable Preferred Share (as defined herein), and, as a result has significant governance and other rights that could be used to control or influence the Company's decisions or actions. As of December 31, 2018, the total liquidation preference of the issued and outstanding Class C Units was $173.6 million , and as of February 27, 2019, following the Final Closing, the total liquidation preference of the issued and outstanding Class C Units was $393.3 million . The Class C Units are convertible into units of limited partner interest in the OP entitled “OP Units” (“OP Units”), which may be redeemed for shares of the Company’s common stock or, at the Company’s option, the cash equivalent. As of the date of this Annual Report on Form 10-K, the Brookfield Investor owns or controls 40.7% of the voting power of the Company’s common stock on an as-converted basis (See Note 3 - Brookfield Investment and Note 20 - Subsequent Events for additional information).

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies The accompanying consolidated financial statements of the Company included herein were prepared in accordance with United States Generally Accepted Accounting Principles ("GAAP"). The consolidated financial statements reflect all adjustments which are, in the opinion of management, necessary to a fair statement of the results for the periods presented. These adjustments are considered to be of a normal, recurring nature. Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. All inter-company accounts and transactions have been eliminated in consolidation. In determining whether the Company has a controlling financial interest in a joint venture and the requirement to consolidate the accounts of that entity, management considers factors such as percentage ownership interest, authority to make decisions and contractual and substantive participating rights of the other partners or members as well as whether the entity is a variable interest entity for which the Company is the primary beneficiary. Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Real Estate Investments The Company allocates the purchase price of properties acquired in real estate investments to tangible and identifiable intangible assets acquired based on their respective fair values at the date of acquisition. Tangible assets include land, land improvements, buildings and furniture, fixtures and equipment. The Company utilizes various estimates, processes and information to determine the property value. Estimates of value are made using customary methods, including data from appraisals, comparable sales, discounted cash flow analysis and other methods. Amounts allocated to land, land improvements, buildings and furniture, fixtures and equipment are based on purchase price allocation studies performed by independent third parties or on the Company’s analysis of comparable properties in the Company’s portfolio. Identifiable intangible assets and liabilities, as applicable, are typically related to contracts, including operating lease agreements, ground lease agreements and hotel management agreements, which are recorded at fair value. The Company also considers information obtained about each property as a result of the Company’s pre-acquisition due diligence in estimating the fair value of the tangible and intangible assets acquired and intangible liabilities assumed. Prior to January 1, 2018, the Company's acquisitions of hotel properties were accounted for as acquisitions of existing businesses, and all transaction costs associated with the acquisitions, were expensed as incurred. As a result of a change in applicable GAAP guidance, beginning January 1, 2018, the Company's acquisitions of hotel properties are anticipated to be accounted for as acquisitions of groups of assets rather than business combinations, although the determination will be made on a transaction-by-transaction basis. If the Company concludes that an acquisition will be accounted for as a group of assets, the transaction costs associated with the acquisition will be capitalized as part of the assets acquired. The Company's investments in real estate, including transaction costs, that are not considered to be business combinations under GAAP are recorded at cost. Improvements and replacements are capitalized when they extend the useful life of the asset. Costs of repairs and maintenance are expensed as incurred. Depreciation of the Company's long-lived assets is computed using the straight-line method over the estimated useful lives of up to 40 years for buildings, 15 years for land improvements, five years for furniture, fixtures and equipment, and the shorter of the useful life or the remaining lease term for leasehold interests. The Company is required to make subjective assessments as to the useful lives of the Company’s assets for purposes of determining the amount of depreciation to record on an annual basis with respect to the Company’s investments in real estate. These assessments have a direct impact on the Company’s net income because if the Company were to shorten the expected useful lives of the Company’s investments in real estate, the Company would depreciate these investments over fewer years, resulting in more depreciation expense and lower net income on an annual basis. Below-Market Lease The below-market lease intangible is based on the difference between the market rent and the contractual rent for the Company's ground lease obligations, and is discounted to a present value using an interest rate reflecting the Company's assessment of the risk associated with the leases acquired (See Note 5 - Leases). Acquired lease intangible assets are amortized over the remaining lease term. The amortization of a below-market lease is recorded as an increase to rent expense on the Consolidated Statements of Operations and Comprehensive Loss. Impairment of Long Lived Assets Upon the occurrence of certain “triggering events” under the provisions of the Accounting Standards Codification section 360-Property, Plant and Equipment, the Company reviews its hotel investments which are considered to be long-lived assets under GAAP for impairment. These triggering events include significant declines in market value of the asset, significant declines in operating performance and significant adverse changes in economic conditions. If a triggering event occurs and circumstances indicate the carrying amount of the property may not be recoverable, the Company performs a recoverability test which compares the carrying amount to an estimate of the future undiscounted cash flows, excluding interest charges, expected to result from the property’s use and eventual disposition. The estimates consider factors such as expected future operating income, market and other applicable trends and residual value, as well as the effects of demand, competition and other factors. If the Company determines it is unable to recover the carrying amount of the asset over the useful life, impairment is deemed to exist and an impairment loss will be recorded to the extent that the carrying amount exceeds the estimated fair value of the property. During the years ended December 31, 2018, December 31, 2017, and December 31, 2016 , the Company recognized impairment losses on long-lived assets of $26.4 million , $15.6 million and $2.4 million , respectively (See Note 17-Impairments). Assets Held for Sale (Long Lived-Assets) When the Company initiates the sale of long-lived assets, it assesses whether the assets meet the criteria to be considered assets held for sale. The review is based on whether the following criteria are met: • Management and the Company's board of directors have committed to a plan to sell the asset group; • The subject assets are available for immediate sale in their present condition; • The Company is actively locating buyers as well as other initiatives required to complete the sale; • The sale is probable and the transfer is expected to qualify for recognition as a complete sale in one year; • The long-lived asset is being actively marketed for sale at a price that is reasonable in relation to fair value; and • Actions necessary to complete the plan indicate it is unlikely significant changes will be made to the plan or the plan will be withdrawn. If all the criteria are met, a long-lived asset held for sale is measured at the lower of its carrying amount or fair value less cost to sell, and the Company will cease recording depreciation. Any such adjustment to the carrying amount is recorded as an impairment loss. The Company did not have any hotels that qualified as held for sale as of December 31, 2018. The Company had one hotel that qualified to be treated as an asset held for sale as of December 31, 2017 and an impairment loss of $1.4 million , which included goodwill impairment, was recognized on this hotel. Goodwill The Company allocates goodwill to each reporting unit. For the Company’s purposes, each of its wholly-owned hotels is considered a reporting unit. The Company tests goodwill for impairment at least annually, or upon the occurrence of any "triggering events" if sooner. During the three months ended March 31, 2018, the Company changed the date of its annual goodwill impairment testing from June 30 to March 31 of each year. The change was made to align the timing of the Company's annual goodwill impairment test with the determination of Estimated Per-Share NAV, each of which includes a fair value assessment of the Company's hotel properties. Upon the occurrence of any "triggering events," the Company is required to compare the fair value of each reporting unit to which goodwill has been allocated, to the carrying amount of such reporting unit including the allocation of goodwill. If the carrying amount of a reporting unit exceeds its fair value, the Company applies a one-step quantitative test and records the amount of goodwill impairment as the excess of the reporting unit's carrying amount over its fair value, not to exceed the total amount of goodwill allocated to such reporting unit. In January 2017, simultaneous with its entry into the SPA with the Brookfield Investor, the Company entered into the Framework Agreement with the Former Advisor, the Former Property Manager and certain other parties. The Framework Agreement provided for the Company’s transition from an externally managed company with no employees of its own that is dependent on the Former Advisor and its affiliates to manage its day-to-day operations, to a self-managed company. The transactions contemplated by the Framework Agreement, which included certain employees of the Former Advisor or its affiliates (including, at that time, Crestline) who had been involved in the management of our day-to-day operations, becoming employees of the Company, were consummated at, and as a condition to, the initial capital investment in the Company by the Brookfield Investor. The Company recognized the consideration transferred and acquisition of an in-place workforce, intellectual property and infrastructure assets pursuant to the Framework Agreement as a business combination in accordance with GAAP, and the Company recognized $31.6 million as goodwill (See Note 4 - Business Combinations). The Company recorded an impairment of its goodwill of $3.4 million and $17.1 million during the years ended December 31, 2018 and December 31, 2017, respectively (See Note 17 - Impairments). Cash and Cash Equivalents Cash and cash equivalents include cash in bank accounts as well as investments in highly-liquid money market funds with original maturities of three months or less at purchase. Restricted Cash Restricted cash consists of amounts required under mortgage agreements for future capital improvements to owned assets, future interest and property tax payments and cash flow deposits while subject to mortgage agreement restrictions. Deferred Financing Fees Deferred financing fees represent commitment fees, legal fees and other costs associated with obtaining commitments for financing. These fees are amortized as a component of interest expense over the terms of the respective financing agreements using the effective interest method. Unamortized deferred financing fees are expensed in full when the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financial transactions that do not close are expensed in the period in which it is determined that the financing will not be successful. Deferred financing fees are deducted from their related liabilities on the Company's Consolidated Balance Sheets. Revenue Recognition The Company's revenue is primarily from rooms, food and beverage, and other, and is disaggregated on the Company's Consolidated Statement of Operations and Comprehensive Loss. Room sales are driven by a fixed fee charged to a hotel guest to stay at the hotel property for an agreed-upon period. A majority of the Company's room reservations are cancellable and the Company transfers promised goods and services to the hotel guest as of the date upon which the hotel guest occupies a room and at the same time earns and recognizes revenue. The Company offers advance purchase reservations that are paid for by the hotel guest in advance and the Company recognizes deferred revenue as a result of such reservations. The Company's obligation to the hotel guest is satisfied as of the date upon which the hotel guest occupies a room. The Company's room revenue accounted for 94.5% , 94.7% , and 94.5% of the Company's total revenue for the years ended December 31, 2018, 2017, and 2016, respectively. Food, beverage, and other revenue are recognized at the point of sale on the date of the transaction as the hotel guest simultaneously obtains control of the good or service. Income Taxes The Company elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the "Code") commencing with its tax year ended December 31, 2014 . In order to continue to qualify as a REIT, the Company must annually distribute to its stockholders 90% of its REIT taxable income (which does not equal net income as calculated in accordance with GAAP), determined without regard to the deduction for dividends paid and excluding net capital gain, and must comply with various other organizational and operational requirements. The Company generally will not be subject to federal corporate income tax on that portion of its REIT taxable income that it distributes to its stockholders. The Company may be subject to certain state and local taxes on its income, property taxes and federal income and excise taxes on its undistributed income. The Company's hotels are leased to taxable REIT subsidiaries, which are owned by the OP. The taxable REIT subsidiaries are subject to federal, state and local income taxes. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and for net operating loss, capital loss, and tax credit carryovers. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which such amounts are expected to be realized or settled. The effect on 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 available evidence, including future reversals of existing taxable temporary differences, future projected taxable income and tax planning strategies. GAAP prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken in a tax return. The Company must determine whether it is "more-likely-than-not" that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Once it is determined that a position meets the more-likely-than-not recognition threshold, the position is measured at the largest amount of benefit that is greater than 50% likely of being realized upon settlement in order to determine the amount of benefit to recognize in the financial statements. This accounting standard applies to all tax positions related to income taxes. As of December 31, 2018, the Company's tax years that remain subject to examination by major tax jurisdictions are 2014, 2015, 2016, 2017 and 2018. Earnings/Loss per Share The Company calculates basic income or loss per share by dividing net income or loss attributable to common stockholders for the period by the weighted-average shares of its common stock outstanding for such period. Diluted income per share takes into account the effect of dilutive instruments, such as unvested restricted shares of common stock ("restricted shares") and unvested restricted share units in respect of shares of common stock ("RSUs"), except when doing so would be anti-dilutive. The Company currently has outstanding restricted shares whose holders are entitled to participate in dividends when and if paid on shares of common stock. The Company also currently has outstanding RSUs whose holders generally are credited with dividend or other distribution equivalents when and if paid on shares of common stock. These dividends or other distribution equivalents will be regarded as having been reinvested in RSUs and will only be paid to the extent the corresponding RSUs vest. To the extent the Company were to have distributions in the future, it would be required to calculate earnings per share using the two-class method with regard to restricted shares, whereby earnings or losses are reduced by distributed earnings as well as any available undistributed earnings allocable to holders of restricted shares. Fair Value Measurements In accordance with Accounting Standards Codification section 820 - Fair Value Measurement , certain assets and liabilities are recorded at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability between market participants in an orderly transaction on the measurement date. The market in which the reporting entity would sell the asset or transfer the liability with the greatest volume and level of activity for the asset or liability is known as the principal market. When no principal market exists, the most advantageous market is used. This is the market in which the reporting entity would sell the asset or transfer the liability with the price that maximizes the amount that would be received or minimizes the amount that would be paid. Fair value is based on assumptions market participants would make in pricing the asset or liability. Generally, fair value is based on observable quoted market prices or derived from observable market data when such market prices or data are available. When such prices or inputs are not available, the reporting entity should use valuation models. The Company’s financial instruments recorded at fair value on a recurring basis are categorized based on the priority of the inputs used to measure fair value. The inputs used in measuring fair value are categorized into three levels, as follows: • Level 1 - Inputs that are based upon quoted prices for identical instruments traded in active markets. • Level 2 - Inputs that are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar investments in markets that are not active, or models based on valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the investment. • Level 3 - Inputs that are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques that include option pricing models, discounted cash flow models, and similar techniques. The determination of where an asset or liability falls in the hierarchy requires significant judgment and considers factors specific to the asset or liability. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. See Note 12 - Fair Value Measurements for fair value disclosures. Class C Units The Company initially measured the Class C Units which were issued to the Brookfield Investor at fair value net of issuance costs. The Company is required to accrete the carrying value of the Class C Units to the liquidation preference using the effective interest method over the five year period prior to the holder's redemption option becoming exercisable (See "Accretion of Class C Units" on the Company's Consolidated Statements of Operations and Comprehensive Loss). However, if it becomes probable that the Class C Units will become redeemable prior to such date, the Company will adjust the carrying value of the Class C Units to the maximum liquidation preference. Until the Final Closing, the Company could have become obligated pursuant to the SPA with the Brookfield Investor to issue additional Class C Units. This obligation was considered a contingent forward contract under Accounting Standards Codification section 480 - Distinguishing Liabilities from Equity, and the Company accounted for it as a liability. The fair value of the contingent forward liability was initially recognized at zero since the contingent forward contract was executed at fair market value. The fair value of the contingent forward liability was zero and $1.4 million as of December 31, 2018 and December 31, 2017 , respectively (See Note 13 - Commitments and Contingencies). Advertising Costs The Company expenses advertising costs for hotel operations as incurred. These costs were $17.9 million for the year ended December 31, 2018 , $18.4 million for the year ended December 31, 2017, and $17.2 million for the year ended December 31, 2016. Allowance for Doubtful Accounts Receivables consist principally of trade receivables from customers and are generally unsecured and are due within 30 to 90 days. The Company records a provision for uncollectible accounts using the allowance method. Expected credit losses associated with trade receivables are recorded as an allowance for doubtful accounts. The allowance for doubtful accounts is estimated based upon historical patterns of credit losses for aged receivables as well as specific provisions for certain identifiable, potentially uncollectible balances. When internal collection efforts on accounts have been exhausted, the accounts are written off and the associated allowance for doubtful accounts is reduced. Trade and note receivable balances, net of the allowance for doubtful accounts, are included in prepaid expenses and other assets in the accompanying Consolidated Balance Sheets, and are as follows (in thousands): December 31, 2018 December 31, 2017 Trade receivables $ 8,329 $ 9,638 Note receivable from sale of hotel — $ 1,625 Allowance for doubtful accounts (338 ) (312 ) Trade and Note receivables, net of allowance $ 7,991 $ 10,951 Reportable Segments The Company has determined that it has one reportable segment, with activities related to investing in real estate. The Company’s investments in real estate generate room revenue and other income through the operation of the properties, which comprise 100% of the total consolidated revenues. Management evaluates the operating performance of the Company’s investments in real estate on an individual property level, and therefore each property is considered a reporting unit. Each of the Company's reporting units are also considered to be operating segments, but none of these individual operating segments represents a reportable segment as they meet the criteria in GAAP to aggregate all properties into one reportable segment. Derivative Transactions The Company at certain times enters into derivative instruments to hedge exposure to changes in interest rates. The Company’s derivatives as of December 31, 2018 , consist of interest rate cap agreements which it believes will help to mitigate its exposure to increasing borrowing costs under floating rate indebtedness. The Company has elected not to designate its interest rate cap agreements as cash flow hedges. The impact of the interest rate caps for the year ended December 31, 2018 , was immaterial to the consolidated financial statements. See disclosures above with respect to Class C Units and contingent forward liability. The contingent forward is considered a derivative transaction under GAAP. Recently Issued Accounting Pronouncements On January 1, 2018, the Company adopted the following accounting standards issued by the Financial Accounting Standards Board (FASB): • ASC Topic 606, Revenue from Contracts with Customers • ASU 2016-18, Statement of Cash Flows-Restricted Cash (Topic 230) • ASU 2017-01, Business Combinations (Topic 805) • ASU 2017-09 Compensation - Stock Compensation (Topic 718) The Company's adoption of ASC Topic 606 using the modified retrospective approach had an immaterial impact on its consolidated financial statements and no adjustments to the prior-period consolidated financial statements were required. The Company's adoption of ASU 2017-01 had no impact on its consolidated financial statements. The Company's adoption of ASU 2017-09 had an immaterial impact on its consolidated financial statements. The Company's adoption of ASU 2016-18 using the retrospective approach resulted in reclassification of prior-period restricted cash balances and activity in the Consolidated Statement of Cash Flows. The amounts included in restricted cash on the Company's Consolidated Balance Sheet are now included with cash and cash equivalents on the statement of cash flows. These amounts totaled $27.9 million , $63.4 million and $35.1 million as of December 31, 2018, 2017 and 2016, respectively. The adoption of this standard did not change the Company's balance sheet presentation. In February 2016, the FASB issued ASU 2016-02 Leases ("ASU 2016-02"), which requires an entity to separate lease components from nonlease components in a contract. ASU 2016-02 provides more guidance on how to identify and separate components than did previous GAAP. ASU 2016-02 requires lessees to recognize assets and liabilities arising from operating leases on the balance sheet. This amendment has not fundamentally changed lessor accounting, however some changes have been made to align and conform to the lessee guidance. The standard requires a modified retrospective approach, with an option to use certain transition relief. In July 2018, the FASB issued ASU 2018-10, Codification Improvements ("ASU 2018-10") and ASU 2018-11 (“ASU 2018-11”), Targeted Improvements to Topic 842, Leases. The amendments in ASU 2018-10 affect narrow aspects of the guidance issued earlier, remove certain inconsistencies and provide additional clarification related to the guidance issued earlier. ASU 2018-11 provides entities with an additional optional transition method to adopt ASU 2016-02 by recognizing a cumulative-effect adjustment to opening balance of retained earnings in the period of adoption. The adoption of ASU 2016-02 becomes effective for the Company for the fiscal year beginning on January 1, 2019, and all subsequent annual and interim periods. The Company expects to elect the cumulative-effect transition method and the package of practical expedients. To the extent the Company elects the package of practical expedients the Company will be permitted not to reassess under the new standard the Company's prior conclusions about its existing leases to include lease identification, lease classification and initial direct costs. The Company does not expect to elect the use-of-hindsight expedient. While the Company continues to assess all of the effects of this standard, the Company anticipates that this standard will have a material impact on the Company's Consolidated Balance Sheets. However, the Company does not expect this standard to have a material impact on the Company's Consolidated Statement of Operations and Comprehensive Loss. The most significant effects of this standard relate to the recognition of the Company's operating leases with a term longer than twelve months, which are primarily comprised of one operating lease with respect to the Georgia Tech Hotel & Conference Center, the Company's office space lease, and nine ground leases, under which it is the lessee, as right of use assets ("ROU") and corresponding lease liabilities in the Consolidated Balance Sheets. On adoption, the Company expects to recognize ROU assets and corresponding lease liabilities between $50 million and $60 million and will also reclassify its intangible assets for below market leases and intangible liabilities for above market leases to the beginning balance of ROU assets. In August 2018, the FASB issued ASU 2018-13 Fair Value Measurements (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13"). Among other changes, ASU 2018-13 addresses changes in disclosures related to unrealized gains and losses and transfers between levels in the fair value hierarchy. ASU 2018-13 is effective for the Company for fiscal years beginning after December 15, 2019. The Company does not anticipate that the adoption of ASU 2018-13 will have any impact on the Company's consolidated financial statements.

Brookfield Investment

Brookfield Investment	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Brookfield Investment	Brookfield Investment On March 31, 2017, the initial closing under the SPA (the “Initial Closing”) occurred and various transactions and agreements contemplated by the SPA were consummated and executed, including but not limited to: • the sale by the Company and purchase by the Brookfield Investor of one share of a new series of preferred stock designated as the Redeemable Preferred Share, par value $0.01 per share (the “Redeemable Preferred Share”), for a nominal purchase price; and • the sale by the Company and purchase by the Brookfield Investor of 9,152,542.37 Class C Units for a purchase price of $14.75 per Class C Unit, or $135.0 million in the aggregate. On February 27, 2018, the second closing under the SPA (the “Second Closing”) occurred, pursuant to which the Company sold 1,694,915.25 additional Class C Units to the Brookfield Investor, for a purchase price of $14.75 per Class C Unit, or $25.0 million in the aggregate. On February 27, 2019, the Final Closing occurred, pursuant to which we sold 14,898,060.78 additional Class C Units to the Brookfield Investor, for a purchase price of $14.75 per Class C Unit, or $219.7 million in the aggregate. Following the Final Closing, the Brookfield Investor no longer has any obligations or rights to purchase additional Class C Units pursuant to the SPA or otherwise (See Note 20 - Subsequent Events). Without obtaining the prior approval of the majority of the then outstanding Class C Units and/or at least one of the two directors (each, a "Redeemable Preferred Director") elected to the Company’s board of directors by the Brookfield Investor pursuant to its rights as the holder of the Redeemable Preferred Share, the Company is restricted from taking certain operational and governance actions. These restrictions (collectively referred to herein as the “Brookfield Approval Rights”) are subject to certain exceptions and conditions. See “Brookfield Approval Rights” below. The Redeemable Preferred Share The Redeemable Preferred Share held by the Brookfield Investor has been classified as permanent equity on the Consolidated Balance Sheets. The Redeemable Preferred Share ranks on parity with the Company’s common stock, with the same rights with respect to preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends and other distributions, qualifications, terms and conditions of redemption and other terms and conditions as the Company’s common stock, with certain exceptions. For so long as the Brookfield Investor holds the Redeemable Preferred Share, the Brookfield Investor has certain rights with respect to the election of members of the Company's board of directors and its committees, including the right to elect two Redeemable Preferred Directors to the Company’s board of directors and to approve two additional independent directors (each, an "Approved Independent Director") to be recommended and nominated by the Company's board of directors for election by the stockholders at each annual meeting. In addition, each committee of the Company's board of directors, subject to limited exceptions, must include at least one of the Redeemable Preferred Directors. The holder of the Redeemable Preferred Share has certain rights in the event the OP fails to redeem Class C Units when required to do so, including the right to increase the size of the Company's board of directors by a number of directors that would result in the holder of the Redeemable Preferred Share being entitled to nominate and elect a majority of the Company's board of directors, subject to compliance with the provisions of the Company's charter requiring at least a majority of the Company's directors to be Independent Directors (as defined in the Company's charter). Class C Units As of December 31, 2018, the Class C Units are reflected on the Consolidated Balance Sheets at $163.1 million . The value of the Class C Units as of December 31, 2018, is derived by reducing the $160.0 million in gross proceeds by the $14.8 million in costs directly attributable to the issuance of Class C Units, including $6.0 million paid directly to the Brookfield Investor at the Initial Closing in the form of expense reimbursements and a commitment fee, and increased by $13.6 million in quarterly distributions payable to holders of Class C Units in the form of additional Class C Units, $4.2 million in the accretion of the carrying value to the liquidation preference through December 31, 2018, and $0.1 million resulting from a change in value of the contingent forward liability. The Class C Units have been classified as temporary equity due to the contingent redemption features described in more detail below. At the Initial Closing, the Class C Units were deemed to have a “beneficial conversion feature” as the effective conversion price of the Class C Units under GAAP as of March 31, 2017 was less than the fair value of the Company's common stock on such date. As a result, the Company recognized the beneficial conversion feature as a deemed dividend of $4.5 million during the three months ended March 31, 2017, thereby reducing income available to common stockholders for purposes of calculating earnings per share. Rank The Class C Units rank senior to the OP Units and all other equity interests in the OP with respect to priority in payment of distributions and in the distribution of assets in the event of the liquidation, dissolution or winding-up of the OP, whether voluntary or involuntary, or any other distribution of the assets of the OP among its equity holders for the purpose of winding up its affairs. Distributions Commencing on June 30, 2017, holders of Class C Units are entitled to receive, with respect to each Class C Unit, fixed, quarterly cumulative cash distributions at a rate of 7.50% per annum from legally available funds. If the Company fails to pay these cash distributions when due, the per annum rate will increase to 10% until all accrued and unpaid distributions required to be paid in cash are reduced to zero . Commencing on June 30, 2017, holders of Class C Units are also entitled to receive, with respect to each Class C Unit, a fixed, quarterly, cumulative PIK Distribution at a rate of 5% per annum ("PIK Distributions"). If the Company fails to redeem the Brookfield Investor when required to do so pursuant to the amendment and restatement of the OP's existing agreement of limited partnership (the "A&R LPA"), the 5% per annum PIK Distribution rate will increase to a per annum rate of 7.50% , and would further increase by 1.25% per annum for the next four quarterly periods thereafter, up to a maximum per annum rate of 12.5% . The number of Class C Units delivered in respect of the PIK Distributions on any distribution payment date will be equal to the number obtained by dividing the amount of PIK Distribution by $14.75 . The Brookfield Investor is also entitled to receive tax distributions under certain limited circumstances. As of December 31, 2018, no tax distributions have been paid. For the year ended December 31, 2017, the Company paid cash distributions of $7.9 million and PIK Distributions of 355,349.60 Class C Units to the Brookfield Investor, as the sole holder of the Class C Units. For the year ended December 31, 2018, the Company paid cash distributions of $12.5 million and PIK Distributions of 564,870.56 Class C Units to the Brookfield Investor, as the sole holder of the Class C Units. Conversion Rights The Class C Units are generally convertible into OP Units at any time at the option of the holder thereof at an initial conversion price of $14.75 (the "Conversion Price"). The Conversion Price is subject to anti-dilution and other adjustments upon the occurrence of certain events and transactions. Liquidation Preference The liquidation preference with respect to each Class C Unit as of a particular date is the original purchase price paid under the SPA or the value upon issuance of any Class C Unit received as a PIK Distribution, plus, with respect to such Class C Unit up to but not including such date, (i) any accrued and unpaid cash distributions and (ii) any accrued and unpaid PIK Distributions. Mandatory Redemption The Class C Units are generally subject to mandatory redemption at a premium to liquidation preference if the OP consummates any liquidation, sale of all or substantially all of the assets, dissolution or winding-up, whether voluntary or involuntary, sale, merger, reorganization, reclassification or recapitalization or other similar event (a “Fundamental Sale Transaction”) prior to March 31, 2022. The amount of the premium, which may be substantial, varies based on the timing of consummation of the Fundamental Sale Transaction. Holder Redemptions The holders of the Class C Units may redeem such Class C Units at any time on or after March 31, 2022 for a redemption price in cash equal to the liquidation preference and also have certain other redemption rights in connection with the Company’s failure to maintain REIT status or material breaches of the A&R LPA. Remedies Upon Failure to Redeem If the OP fails to redeem Class C Units when required to do so pursuant to the terms of the A&R LPA, beginning three months after such failure BSREP II Hospitality II Special GP, OP LLC (the "Special General Partner"), an affiliate of the Brookfield Investor, has the exclusive right, power and authority to sell the assets or properties of the OP for cash at such time or times as the Special General Partner may determine, upon engaging a reputable, national third party sales broker or investment bank reasonably acceptable to holders of a majority of the then outstanding Class C Units to conduct an auction or similar process designed to maximize the sales price. The proceeds from sales of assets or properties by the Special General Partner must be used first to make any and all payments or distributions due or past due with respect to the Class C Units, regardless of the impact of such payments or distributions on the Company or the OP. The foregoing rights of the Special General Partner are in addition to the other rights described herein if the OP fails to redeem Class C Units when required to do so pursuant to the terms of the A&R LPA. Company Redemption After Five Years At any time and from time to time on or after March 31, 2022, the Company has the right to elect to redeem all or any part of the issued and outstanding Class C Units for an amount in cash equal to the liquidation preference. Transfer Restrictions The Brookfield Investor is generally permitted to make transfers of Class C Units without the prior consent of the Company, provided that any transferee must customarily invest in these types of securities or real estate investments of any type or have in excess of $100.0 million of assets. Preemptive Rights If the Company or the OP proposes to issue additional equity securities, subject to certain exceptions and in accordance with the procedures in the A&R LPA, any holder of Class C Units that owns Class C Units representing more than 5% of the outstanding shares of the Company’s common stock on an as-converted basis has certain preemptive rights. Brookfield Approval Rights The articles supplementary with respect to the Redeemable Preferred Share restrict the Company from taking certain actions without the prior approval of at least one of the Redeemable Preferred Directors, and the A&R LPA restricts the OP from taking certain actions without the prior approval of the majority of the then outstanding Class C Units. In general, subject to certain exceptions, prior approval is required before the Company or its subsidiaries (including the OP) are permitted to take any of the following actions: equity issuances; organizational document amendments; debt incurrences; affiliate transactions; sale of all or substantially all assets; bankruptcy or insolvency declarations; declarations or payments of dividends or other distributions; redemptions or repurchases of securities; adoption of, and amendments to, the annual business plan (including the annual operating and capital budget) required under the terms of the Redeemable Preferred Share; hiring and compensation decisions related to certain key personnel (including executive officers); property acquisitions and property sales and dispositions that do not meet transaction-size limits and other defined criteria and would be outside of the OP’s normal course of business; entry into new lines of business; settlement of material litigation; changes to material agreements; increasing or decreasing the number of directors on the Company’s board of directors; nominating or appointing a director (other than a Redeemable Preferred Director) who is not independent; nominating or appointing the chairperson of the Company’s board of directors; and certain other matters. Related Party Transactions and Arrangements Relationships with the Brookfield Investor and its Affiliates On January 12, 2017, the Company and the OP entered into the SPA and the Framework Agreement. On March 31, 2017, the Initial Closing occurred and a variety of transactions contemplated by the SPA and the Framework Agreement were consummated, including the issuance and sale of the Redeemable Preferred Share and 9,152,542.37 Class C Units and the execution or taking of various agreements and actions required to effectuate the Company's transition to self-management. On February 27, 2018, the Second Closing occurred, pursuant to which the Company sold 1,694,915.25 additional Class C Units to the Brookfield Investor, for a purchase price of $14.75 per Class C Unit, or $25.0 million in the aggregate. On February 27, 2019, the Final Closing occurred, pursuant to which the Company sold 14,898,060.78 additional Class C Units to the Brookfield Investor, for a purchase price of $14.75 per Class C Unit, or $219.7 million in the aggregate. Following the Final Closing, the Brookfield Investor no longer has any obligations or rights to purchase additional Class C Units pursuant to the SPA or otherwise. Holders of Class C Units are entitled to receive, with respect to each Class C Unit, fixed, quarterly cumulative cash distributions at a rate of 7.50% per annum from legally available funds. Holders of Class C Units are also entitled to receive, with respect to each Class C Unit, fixed, quarterly, cumulative PIK Distributions payable in Class C Units at a rate of 5% per annum. For the year ended December 31, 2017, the Company paid cash distributions of $7.9 million and PIK Distributions of 355,349.60 Class C Units to the Brookfield Investor, as the sole holder of the Class C Units. For the year ended December 31, 2018, the Company paid cash distributions of $12.5 million and PIK Distributions of 564,870.56 Class C Units to the Brookfield Investor, as the sole holder of the Class C Units. Two of the Company’s directors, Bruce G. Wiles, who also serves as Chairman of the Board, and Lowell G. Baron, have been elected to the Company’s board of directors as the Redeemable Preferred Directors pursuant to the Brookfield Investor’s rights as the holder of the Redeemable Preferred Share and pursuant to the SPA. Messrs. Wiles and Baron are Managing Partners of Brookfield Asset Management Inc., an affiliate of the Brookfield Investor. Relationships with AR Capital, AR Global and their Affiliates As of March 31, 2017, the Former Advisor, the Former Property Manager and Crestline were under common control with AR Capital, LLC (“AR Capital”) and AR Global Investments, LLC (“AR Global”), the successor to certain of AR Capital's businesses. AR Capital is the parent company of the Company’s former sponsor, American Realty Capital IX, LLC. Following the sale of AR Global’s membership interest in Crestline in April 2017, Crestline is no longer under common control with AR Global and AR Capital. At the Initial Closing, the Company terminated the Advisory Agreement and entered into a transition services agreement with the Former Advisor. In the second quarter of 2017, the transition services agreement with the Former Advisor expired by its terms. During the years ended December 31, 2017 and December 31, 2016, the Company incurred $4.6 million , and $18.0 million in asset management fees, respectively and $0.9 million , and $2.4 million in general and administrative expense reimbursements, respectively, charged by and due to the Former Advisor, and $2.0 million , and $8.5 million in property management fees charged by and due to the Former Property Manager. As all of the Company's arrangements with the Former Advisor and the Former Property Manager (as described in more detail below) have been terminated, there were no fees or reimbursements to these parties incurred by the Company during the year ended December 31, 2018. Except for the short-term note payable due to the Former Property Manager described below which was repaid in full during March 2018, there were no fees or reimbursements payable due to the Former Advisor and its affiliates as of December 31, 2018 and December 31, 2017, respectively. Property Management Transactions At the Initial Closing, as contemplated by and pursuant to the Framework Agreement, the Company entered into a series of amendments, assignments and terminations with respect to its then existing property management arrangements (collectively, the "Property Management Transactions"), the primary effect of which was to terminate the Former Property Manager as the Company's property manager, and enter into direct property management agreements with the Company's then existing sub-managers, which included Crestline. As consideration for the Property Management Transactions, the Company and the OP: • paid a one-time cash amount equal to $10.0 million to the Former Property Manager; • made a monthly cash payment in the amount of $333,333.33 , $4.0 million in the aggregate, to the Former Property Manager on the 15th day of each month for the 12 months following the Initial Closing (See Note 7 - Promissory Notes Payable), all of which have been completed as of March 31, 2018; • issued 279,329 shares of the Company's common stock to the Former Property Manager, for which the fair value on the date of grant has been determined to be $14.59 per share (See Note 10 - Common Stock); • waived any and all obligations of the Former Advisor to refund or otherwise repay any Organization or Offering Expenses (as defined in the Advisory Agreement) to the Company in an amount acknowledged to be $5,821,988 , which amount had been reflected as a reduction in offering proceeds due to it being directly related to issuing shares of common stock in prior periods; and • converted all 524,956 units of limited partnership in the OP entitled “Class B Units” (“Class B Units") held by the Former Advisor into 524,956 OP Units, and, immediately following such conversion, redeemed such 524,956 OP Units for 524,956 shares of the Company’s common stock. The foregoing consideration aggregated to $31.6 million and was recorded as goodwill on the Company’s Consolidated Balance Sheets (See Note 4 - Business Combinations). During 2018 and 2017, the Company recorded impairments to the goodwill (See Note 17 - Impairments).

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2018
Business Combinations [Abstract]
Business Combinations	Business Combinations 2016 and 2017 Summit Acquisitions On February 11, 2016 , the Company completed the acquisition of six hotels from affiliates of Summit Hotel Properties, Inc. (the "Summit Sellers") for an aggregate purchase price of $108.3 million . The acquisition was funded with previously paid earnest moneys deposits, proceeds from a loan from the Summit Sellers, and proceeds from a mortgage loan on the hotels acquired. On April 27, 2017 , the Company completed the acquisition of seven hotels from the Summit Sellers for an aggregate purchase price of $66.5 million . The acquisition was funded with previously paid earnest money deposits, proceeds from the sale of Class C Units to the Brookfield Investor at the Initial Closing, and proceeds from a mortgage loan on the hotels acquired. 2018 Acquisitions The Company did not acquire any hotels during the year ended December 31, 2018. Framework Agreement: The Company has determined that the consummation of the transactions pursuant to the Framework Agreement, which included the transfer of consideration and acquisition of an in-place workforce, intellectual property and infrastructure assets, represent a business combination as defined by FASB Accounting Standard Codifications 805 - Business Combinations. The total consideration paid by the Company as a result of the transactions completed at the Initial Closing pursuant to the Framework Agreement was $31.6 million , comprised of a cash payment of $10.0 million , a non-interest bearing short-term note payable of $4.0 million , a waiver of repayment by the Former Advisor of Organization or Offering Expenses owed to the Company of $5.8 million , newly issued common stock of $4.1 million , and common stock issued upon conversion and redemption of Class B Units of $7.7 million (See Note 14 - Related Party Transactions and Arrangements). The Company determined the fair value on the date of grant of the Company's common stock to be $14.59 per share (See Note 10 - Common Stock). In applying the acquisition method of accounting, the Company recognized all consideration transferred of $31.6 million as goodwill and no value was allocated to the infrastructure fixed assets and intellectual property which were immaterial. The recognized goodwill balance is representative of employees acquired and the synergies expected to be achieved through reduced advisory and property management fees. During the years ended December 31, 2018 and December 31, 2017, the Company recognized goodwill impairment of $3.4 million and $17.1 million , respectively (See Note 17- Impairments).

Leases

Leases	12 Months Ended
	Dec. 31, 2018
Leases [Abstract]
Leases	Leases In connection with its hotel acquisitions the Company has assumed various lease agreements. These lease agreements are primarily comprised of one operating lease with respect to the Georgia Tech Hotel & Conference Center and nine ground leases which are also classified as operating leases. The following table summarizes the Company's future minimum rental commitments under these leases (in thousands): Minimum Rental Commitments Amortization of Below Market Lease Intangible to Rent Expense Year ending December 31, 2019 $ 5,227 $ 398 Year ending December 31, 2020 5,265 398 Year ending December 31, 2021 5,271 398 Year ending December 31, 2022 5,292 398 Year ending December 31, 2023 5,298 398 Thereafter 71,153 7,040 Total $ 97,506 $ 9,030 The Company has allocated values to certain above and below-market lease intangibles based on the difference between market rents and rental commitments under the leases. During the years ended December 31, 2018 , December 31, 2017 and December 31, 2016 , amortization of below-market lease intangibles, net, to rent expense was $ 0.4 million , $0.4 million and $0.4 million , respectively. Rent expense for the years ended December 31, 2018 , December 31, 2017 and December 31, 2016 was $6.3 million , $6.2 million and $6.3 million , respectively.

Mortgage Notes Payable

Mortgage Notes Payable	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Mortgage Notes Payable	Mortgage Notes Payable The Company’s mortgage notes payable as of December 31, 2018 and December 31, 2017 consist of the following, respectively (in thousands): Outstanding Mortgage Notes Payable Encumbered Properties December 31, 2018 December 31, 2017 Interest Rate Payment Maturity Baltimore Courtyard & Providence Courtyard $ 45,500 $ 45,500 4.30% Interest Only, Principal paid at Maturity April 2019 Hilton Garden Inn Blacksburg Joint Venture 10,500 10,500 4.31% Interest Only, Principal paid at Maturity June 2020 87 - Pack Mortgage Loan - 87 properties in Grace Portfolio 805,000 805,000 One-month LIBOR plus 2.56% Interest Only, Principal paid at Maturity May 2019, subject to three, one year extension rights 87 - Pack Mezzanine Loan - 87 properties in Grace Portfolio 110,000 110,000 One-month LIBOR plus 6.50% Interest Only, Principal paid at Maturity May 2019, subject to three, one year extension rights Additional Grace Mortgage Loan - 20 properties in Grace Portfolio and one additional property 232,000 232,000 4.96% Interest Only, Principal paid at Maturity October 2020 Term Loan -28 properties 310,000 310,000 One-month LIBOR plus 3.00% Interest Only, Principal paid at Maturity May 2019, subject to three, one year extension rights Total Mortgage Notes Payable $ 1,513,000 $ 1,513,000 Less: Deferred Financing Fees, Net $ 5,491 $ 17,223 Total Mortgage Notes Payable, Net $ 1,507,509 $ 1,495,777 Interest expense related to the Company's mortgage notes payable for the year ended December 31, 2018 , for the year ended December 31, 2017, and for the year ended December 31, 2016 was $76.3 million , $66.8 million , and $60.1 million , respectively. Baltimore Courtyard and Providence Courtyard The Baltimore Courtyard and Providence Courtyard Loan was refinanced on April 5, 2019. See Note 20 - Subsequent Events. Hilton Garden Inn Blacksburg Joint Venture The Hilton Garden Inn Blacksburg Joint Venture Loan matures June 6, 2020 . On July 6, 2015 and each month thereafter, the Company is required to make an interest only payment based on the outstanding principal and a fixed annual interest rate of 4.31% . The entire principal amount is due at maturity. 87- Pack Loans A total of 87 of the Company’s hotels, all of which were originally acquired in February 2015 as part of a portfolio currently comprising 111 hotel properties (the “Grace Portfolio”), have been financed pursuant to a mortgage loan agreement (the “87-Pack Mortgage Loan”) and a mezzanine loan agreement (the “87-Pack Mezzanine Loan” and, collectively with the 87-Pack Mortgage Loan, the “87-Pack Loans”), with an aggregate principal balance of $915.0 million . The principal amount of the 87-Pack Mortgage Loan is $805.0 million and the 87-Pack Mortgage Loan is secured by the 87 Company hotel properties (each, a “87-Pack Collateral Property”). The principal amount of the 87-Pack Mezzanine Loan is $110.0 million and the 87-Pack Mezzanine Loan is secured by the ownership interest in the entities which own the 87-Pack Collateral Properties and the related operating lessees. The 87-Pack Loans mature on May 1, 2019 , subject to three one -year extension rights at the Company's option which, if all three extension rights are exercised, would result in a fully extended maturity date of May 1, 2022 . The 87-Pack Loans are prepayable in whole or in part without any prepayment fee or any other fee or penalty. Prepayments under the 87-Pack Mortgage Loan are generally conditioned on a pro-rata prepayment being made under the 87-Pack Mezzanine Loan. The 87-Pack Mortgage Loan requires monthly interest payments at a variable rate equal to one-month LIBOR plus 2.56% , and the 87-Pack Mezzanine Loan requires monthly interest payments at a variable rate equal to one-month LIBOR plus 6.50% , for a combined weighted average interest rate of LIBOR plus 3.03% . Pursuant to an interest rate cap agreement, the LIBOR portions of the interest rates due under the 87-Pack Loans are effectively capped at the greater of (i) 4.0% and (ii) a rate that would result in a debt service coverage ratio specified in the loan documents. In connection with a sale or disposition to a third party of an individual 87-Pack Collateral Property, such 87-Pack Collateral Property may be released from the 87-Pack Loans, subject to certain conditions and limitations, by prepayment of a portion of the 87-Pack Loans at a release price calculated in accordance with the terms of the 87-Pack Loans. The 87-Pack Loans also provides for certain amounts to be deposited into reserve accounts, including with respect to a portion of the costs associated with the PIPs required pursuant to the franchise agreements related to the 87-Pack Collateral Properties. For the term of the 87-Pack Loans, the Company and the OP are required to maintain, on a consolidated basis, a net worth of $250.0 million (excluding accumulated depreciation and amortization). As of December 31, 2018 , the Company was in compliance with this financial covenant. Additional Grace Mortgage Loan A portion of the purchase price of the Grace Portfolio was financed through additional mortgage financing which loan was refinanced during October 2015 (the “Additional Grace Mortgage Loan”). The Additional Grace Mortgage Loan carries a fixed annual interest rate of 4.96% per annum with a maturity date on October 6, 2020 . Pursuant to the Additional Grace Mortgage Loan, the Company agreed to make periodic payments into an escrow account for the PIPs required by the franchisors, and the Company made the final PIP reserve payment during June 2018. The Additional Grace Mortgage Loan includes the following financial covenants: minimum consolidated net worth and minimum consolidated liquidity. As of December 31, 2018 , the Company was in compliance with these financial covenants. Term Loan On April 27, 2017 , the Company and the OP, as guarantors, and certain wholly-owned subsidiaries of the OP, as borrowers, entered into a Second Amended and Restated Term Loan Agreement (the “Term Loan”) in an aggregate principal amount of $310.0 million . The Term Loan is collateralized by 28 of the Company’s hotel properties (each, a “Term Loan Collateral Property”). The Term Loan matures on May 1, 2019 , subject to three one -year extension rights at the Company's option which, if all three extension rights are exercised, would result in an outside maturity date of May 1, 2022 . The Term Loan is prepayable in whole or in part at any time, subject to payment of LIBOR breakage, if any. The Term Loan requires monthly interest payments at a variable rate of one-month LIBOR plus 3.00% . Pursuant to an interest rate cap agreement, the LIBOR portions of the interest rates due under the Term Loan is capped at 4.00% during the initial term, and a rate based on a debt service coverage ratio during any extension term. In connection with a sale or disposition to a third party of an individual Term Loan Collateral Property, such Term Loan Collateral Property may be released from the Term Loan, subject to certain conditions and limitations, by prepayment of a portion of the Term Loan at a release price calculated in accordance with the terms of the Term Loan. The Term Loan also provides for certain amounts to be deposited into reserve accounts, including with respect to all costs associated with the PIPs required pursuant to the franchise agreements related to the Term Loan Collateral Properties. For the term of the Term Loan, the Company and the OP are required to maintain, on a consolidated basis, a net worth of $250.0 million (excluding accumulated depreciation and amortization). As of December 31, 2018 , the Company was in compliance with this financial covenant.

Promissory Notes Payable

Promissory Notes Payable	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Promissory Notes Payable	Promissory Notes Payable Note Payable to Former Property Manager As part of the consideration for the Property Management Transactions (as defined in Note 14 below), the Company and the OP agreed pursuant to the Framework Agreement to make certain cash payments to the Former Property Manager, which agreement was classified under GAAP as a short-term note payable with the Former Property Manager. The note payable which was non-interest bearing and required twelve monthly installments of $333,333.33 , was repaid in full during March 2018. See Note 14 - Related Party Transactions and Arrangements for additional information.

Mandatorily Redeemable Preferre

Mandatorily Redeemable Preferred Securities	12 Months Ended
	Dec. 31, 2018
Temporary Equity Disclosure [Abstract]
Mandatorily Redeemable Preferred Securities	Mandatorily Redeemable Preferred Securities In February 2015, a portion of the contract purchase price for the Grace Portfolio was satisfied by the issuance to the sellers of the Grace Portfolio of approximately $447.1 million of liquidation value of preferred equity interests (the "Grace Preferred Equity Interests") in two newly-formed Delaware limited liability companies, HIT Portfolio I Holdco, LLC and HIT Portfolio II Holdco, LLC (together, the "Holdco entities"). Each of the Holdco entities is an indirect subsidiary of the Company and an indirect owner of the 111 hotels currently comprising the Grace Portfolio. The two Holdco entities correspond, respectively, to the pool of hotels encumbered by the 87-Pack Loan (plus four additional otherwise unencumbered hotels) and the pool of hotels encumbered by the Additional Grace Mortgage Loan. Due to the fact that the Grace Preferred Equity Interests were mandatorily redeemable and certain of their other characteristics, the Grace Preferred Equity Interests have been treated as debt in accordance with GAAP. The holders of the Grace Preferred Equity Interests were entitled to monthly distributions at a rate of 7.50% per annum for the first 18 months following closing, through August 2016, and entitled to 8.00% per annum thereafter. The Company was required to reduce the liquidation value of the Grace Preferred Equity Interests to 50.0% of the $447.1 million originally issued by February 27, 2018, and to redeem the Grace Preferred Equity Interests in full by February 27, 2019. The Company was obligated to use 35% of any IPO and other equity issuance proceeds to redeem the Grace Preferred Equity Interests at par, up to a maximum of $350.0 million in redemptions for any 12 -month period. Accordingly, the Company has used a portion of the proceeds from its prior equity issuances to redeem a portion of the Grace Preferred Equity Interests. On February 27, 2018, the Company used $10.6 million of proceeds from the concurrent sale of Class C Units to the Brookfield Investor to reduce the liquidation value of the Grace Preferred Equity Interests to $223.5 million , and thereby satisfied its obligation to redeem 50.0% of the Grace Preferred Equity Interests originally issued by such date. During the year ended December 31, 2018, the Company also used $3.8 million of proceeds from the sale of one of its hotels to further reduce the liquidation value of the Grace Preferred Equity Interests to $219.7 million as of December 31, 2018. On February 27, 2019, the Company used proceeds from the concurrent sale of Class C Units to the Brookfield Investor at the Final Closing to redeem the remaining $219.7 million in liquidation value of Grace Preferred Equity Interests (See Note 20 - Subsequent Events).

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	12 Months Ended
	Dec. 31, 2018
Payables and Accruals [Abstract]
Accounts Payable and Accrued Expenses	Accounts Payable and Accrued Expenses The following is a summary of the components of accounts payable and accrued expenses (in thousands): December 31, 2018 December 31, 2017 Trade accounts payable $ 22,247 $ 24,261 Accrued expenses 40,718 43,191 Total $ 62,965 $ 67,452

Common Stock

Common Stock	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Common Stock	Common Stock The Company had 39,134,628 shares and 39,505,742 shares of common stock outstanding as of December 31, 2018 and December 31, 2017 , respectively. Common Stock Issuances At the Initial Closing, the Company issued 279,329 shares of the Company’s common stock to the Former Property Manager, and converted all 524,956 Class B Units held by the Former Advisor into 524,956 OP Units, and, immediately following such conversion, redeemed such 524,956 OP Units for 524,956 shares of the Company’s common stock. The Company determined the fair value on the date of the above issuance of the Company's common stock to be $14.59 per share. The Company determined this value by utilizing income and market based approaches further adjusted for fair value of debt and the Class C Units, and applied a discount for lack of marketability. As part of the process, the Company made the determination after consulting with a nationally recognized third party advisor. Distributions On January 13, 2017 , in connection with its approval of the Company's entry into the SPA, the Company's board of directors suspended paying distributions to the Company's stockholders entirely. Currently, under the Brookfield Approval Rights, prior approval is required before the Company can declare or pay any distributions or dividends to its common stockholders, except for cash distributions equal to or less than $0.525 per annum per share. Share Repurchase Program On September 24, 2018, the Company announced that its board of directors had adopted a new share repurchase program (the "SRP"), effective as of October 1, 2018, pursuant to which the Company was offering, subject to certain terms and conditions, liquidity to stockholders by offering to make quarterly repurchases of common stock at a price to be established by the board of directors. In February 2019, the board of directors suspended the SRP. The suspension will remain in effect unless and until the board takes further action to reactivate the SRP. There can be no assurance the SRP will be reactivated on its current terms, different terms or at all. The Company repurchased 208,977 shares of its common stock pursuant to the SRP for a total purchase price of $1.9 million during the quarter and year ended December 31, 2018. The Company did not make any share repurchases pursuant to the SRP in 2017. Company Tender Offers On May 14, 2018, the Company commenced a self-tender offer (the “Company Offer”) for up to 1,000,000 shares of common stock at a price of $7.05 per share. The Company Offer was made in response to an unsolicited offer to stockholders commenced on May 7, 2018 by a third party. The Company Offer expired at 5:00 p.m., New York City time, on June 29, 2018. On June 29, 2018, a total of 170,260 shares were tendered in the Company Offer and purchased and subsequently retired by the Company, for an aggregate purchase price of $1.2 million . On August 2, 2018, the Company was advised that, due to an error by the Depositary for the Company Offer, a total of 912 shares were improperly accepted in the Company Offer. Upon correction of this error, the total shares purchased and retired by the Company was 169,348 shares. During the year ended December 31, 2017, the Company completed a self-tender offer in response to an unsolicited offer to stockholders by a third party. A total of 113,091 shares were tendered in the offer and purchased and subsequently retired by the Company, for an aggregate purchase price of $763,366 .

Share-Based Payments

Share-Based Payments	12 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Payments	Share-Based Payments The Company has an employee and director incentive restricted share plan (as amended and/or restated, the “RSP”), which provides it with the ability to grant awards of restricted shares and RSUs to the Company’s directors, officers and employees, as well as the directors and employees of entities that provide services to the Company. The total number of shares of common stock that may be granted under the RSP may not exceed 5% of the authorized shares of common stock at any time and in any event may not exceed 4,000,000 shares (as such number may be adjusted for stock splits, stock dividends, combinations and similar events). Restricted share awards entitle the recipient to receive shares of common stock from the Company under terms that provide for vesting over a specified period of time or upon attainment of pre-established performance objectives. Such awards would typically be forfeited with respect to the unvested shares upon the termination of the recipient’s employment or other relationship with the Company. Restricted shares may not, in general, be sold or otherwise transferred until restrictions are removed and the shares have vested. Holders of restricted shares may receive cash or stock distributions when and if paid prior to the time that the restrictions on the restricted shares have lapsed. Any distributions payable in shares of common stock are generally subject to the same restrictions as the underlying restricted shares. The restricted shares are measured at fair value and expensed over the applicable vesting period. The Company recognizes the impact of forfeited restricted share awards as they occur. RSUs represent a contingent right to receive shares of common stock at a future settlement date, subject to satisfaction of applicable vesting conditions and/or other restrictions, as set forth in the RSP and an award agreement evidencing the grant of RSUs. RSUs may not, in general, be sold or otherwise transferred until restrictions are removed and the rights to the shares of common stock have vested. Holders of RSUs do not have or receive any voting rights with respect to the RSUs or any shares underlying any award of RSUs, but such holders generally are credited with dividend or other distribution equivalents that are regarded as having been reinvested in RSUs which are subject to the same vesting conditions and/or other restrictions as the underlying RSUs. The fair value of the RSUs is expensed over the applicable vesting period. The Company recognizes the impact of forfeited RSUs as they occur. Restricted Share Awards A summary of the Company's restricted share awards for the year ended December 31, 2018 is presented below. Number of Shares Weighted Average Grant Date Fair Value Aggregate Intrinsic Value Non-vested December 31, 2017 7,576 $ 14.59 $ 111 Granted 7,210 $ 14.18 $ 102 Vested (7,576 ) $ 14.59 $ 111 Forfeitures — $ — $ — Non-vested December 31, 2018 7,210 $ 14.18 $ 102 Prior to the Initial Closing, the Company made annual restricted share awards to its independent directors that vested annually over a five -year period following the date of grant, subject to continued service. In connection with the Initial Closing, the Company implemented a new director compensation program. Following the Initial Closing and pursuant to a compensation payment agreement, restricted share awards are made to an affiliate of the Brookfield Investor in respect of the Redeemable Preferred Directors’ service on the board of directors and vest on the earlier of the first anniversary of the date of grant or the date of the next annual meeting of the board of directors following the date of grant, subject to the continued service of the applicable Redeemable Preferred Director. The compensation expense related to restricted shares for the years ended December 31, 2018 and December 31, 2017 was less than $0.1 million . As of December 31, 2018 , there was less than $0.1 million of unrecognized compensation expense remaining. RSU Awards A summary of the Company's RSU awards for the year ended December 31, 2018 is presented below: Number of Shares Weighted Average Grant Date Fair Value Aggregate Intrinsic Value Non-vested December 31, 2017 99,840 $ 15.04 $ 1,502 Granted 286,509 $ 14.18 $ 4,063 Vested (42,507 ) $ 14.98 $ 637 Forfeited (11,478 ) $ 14.20 $ 163 Non-vested December 31, 2018 332,364 $ 14.34 $ 4,765 RSU awards to the Company’s executive officers and other employees generally vest annually over a four -year vesting period following the date of grant, subject to continued service. RSU awards to directors vest on the earlier of the first anniversary of the date of grant or the date of the next annual meeting of the board of directors following the date of grant, subject to the continued service of the applicable director. In addition, during 2017, certain RSU awards to directors other than Redeemable Preferred Directors were issued in connection with the simultaneous forfeiture of an equal number of restricted shares. These RSU awards have the same vesting terms as the restricted shares which were forfeited (i.e., annually over a five -year period following the date of grant of the original restricted share award). Vested RSUs may only be settled in shares of common stock and such settlement generally will be on the earliest of (i) in the calendar year in which the third anniversary of each applicable vesting date occurs, (ii) termination of the recipient’s services to the Company and (iii) a change in control event. During November 2018, 10,800 RSU awards were forfeited by three executive officers. Simultaneously with these forfeitures, a total of 10,800 new RSU awards were granted to various non-executive employees of the Company with the same vesting terms as the RSU awards forfeited. As of December 31, 2018 , the Company anticipates that all unvested RSUs will vest in accordance with their terms. The compensation expense related to RSUs for the years ended December 31, 2018 and December 31, 2017 was approximately $1.4 million and $0.4 million , respectively. As of December 31, 2018 , there was $3.7 million of unrecognized compensation expense remaining.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company is required to disclose the fair value of financial instruments which it is practicable to estimate. The fair value of cash and cash equivalents, accounts receivable and accounts payable and accrued expenses approximate their carrying amounts due to the relatively short maturity of these items. The following table shows the carrying amounts and the fair values of material liabilities, excluding deferred financing fees, that qualify as financial instruments (in thousands): December 31, 2018 Carrying Amount Fair Value Mortgage notes payable $ 1,513,000 $ 1,512,927 Mandatorily redeemable preferred securities $ 219,746 $ 219,746 Total $ 1,732,746 $ 1,732,673 The fair value of the mortgage notes payable and mandatorily redeemable preferred securities were determined using the discounted cash flow method and applying current market rates and is classified as level 3 under the fair value hierarchy. Market rates take into consideration general market conditions and maturity. During the years ended December 31, 2017 and December 31, 2018, the Company recorded impairment losses on its hotel properties (See Note 17 - Impairments). The fair value of these hotel properties was based on the observable market data which is considered level 2 input under the fair value hierarchy and unobservable inputs that reflect the Company's internal assumptions, which are considered level 3 input under the fair value hierarchy. Discount rates used in the determination of the fair value of hotel properties generally range from 8% to 11% .

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation In the ordinary course of business, the Company may become subject to litigation, claims and regulatory matters. There are no material legal or regulatory proceedings pending or known to be contemplated against the Company at the date of this filing, other than as set forth below. A special litigation committee of the Company's board of directors (the “SLC”) has been empowered by a resolution adopted by the board of directors to investigate claims asserted in shareholder demand letters sent to the board by counsel for two stockholders of the Company, Tom Milliken and Stuart Wollman, as well as the allegations contained in an Amended Complaint filed by Mr. Milliken in the United States District Court for the Southern District of New York (the “Federal Court Action”). The resolution creating the SLC also empowers the SLC to determine whether to pursue actions against the defendants in the Federal Court Action. The SLC, which is represented by independent counsel, has substantially completed its investigation of the claims contained in the demand letters and Federal Court Action (collectively “the Claims”). The SLC has determined it appropriate to pursue certain but not all of the Claims asserted. The defendants associated with these claims include Nicholas Schorsch, William Kahane, the Company’s former external advisor and property managers, and the parent of the former sponsor of the Company, along with individuals associated with the parent. These claims include the following: (1) breach of fiduciary duty and corporate waste regarding the property management agreements entered into with affiliates of the Company’s former external advisor and fees paid pursuant to those agreements; (2) breach of fiduciary duty and corporate waste regarding the amendment to the advisory agreement with its former external advisor and fees paid pursuant to the amended agreement; and (3) breach of fiduciary duty, corporate waste, aiding and abetting breach of fiduciary duty and unjust enrichment relating to fees paid by the Company in connection with the restructuring/termination of agreements regarding the management of the properties acquired by the Company. The Company’s current chief executive officer, Jonathan P. Mehlman, received a portion of the fees/compensation discussed above. The SLC has been in discussion with Mr. Mehlman regarding those fees/compensation and Mr. Mehlman has agreed in principle subject to signing a definitive settlement agreement and receiving court approval to pay back to the Company a portion of the fees he received in resolution of the Claims as they pertain to him. The SLC intends to present this resolution to the Court in order to seek Court approval and dismissal as to Mr. Mehlman. The SLC has otherwise determined not to pursue claims against the remaining current directors and officers named as defendants in the Federal Court Action. The SLC is in the process of preparing a report regarding its investigation and will be working with the Company to submit the SLC’s report as well as any necessary motions to address any other claims that the SLC may seek to settle, any claims the SLC may seek to pursue that could not otherwise be settled and dismissal of the claims the SLC has determined not to pursue. For the claims that the SLC seeks to pursue, the Company will request that it be substituted as the plaintiff to replace the current shareholder plaintiff in the Federal Court Action. The Claims do not seek recovery of losses from or damages against the Company, but instead allege that the Company has sustained damages as a result of actions by the defendants, and therefore no accrual of any potential liability was necessary as of December 31, 2018, other than for incurred out-of-pocket legal fees and expenses. Environmental Matters In connection with the ownership and operation of real estate, the Company may potentially be liable for costs and damages related to environmental matters. The Company has not been notified by any governmental authority of any non-compliance, liability or other claim and is not aware of any other environmental condition that it believes will have a material adverse effect on the results of operations. Contingent Forward Liability Until the Final Closing, the Company could have become obligated pursuant to the SPA with the Brookfield Investor to issue additional Class C Units. This obligation was considered a contingent forward contract under Accounting Standards Codification section 480 - Distinguishing Liabilities from Equity, and the Company accounted for it as a liability. The fair value of the contingent forward liability was initially recognized at zero since the contingent forward contract was executed at fair market value. The fair value of the contingent forward liability was $1.4 million as of December 31, 2017 which was included in the Consolidated Balance Sheet in accounts payable and accrued expenses. On February 27, 2019, the Company used the proceeds from the concurrent sale of Class C Units to the Brookfield Investor to redeem the remaining $219.7 million in liquidation value of Grace Preferred Equity Interests, and the Brookfield Investor no longer has any obligations or rights to purchase additional Class C Units. Accordingly, at December 31, 2018, the Company recognized the fair value of the liability as income through current earnings, and thereby extinguished the contingent forward liability.

Related Party Transactions and

Related Party Transactions and Arrangements	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions and Arrangements	Brookfield Investment On March 31, 2017, the initial closing under the SPA (the “Initial Closing”) occurred and various transactions and agreements contemplated by the SPA were consummated and executed, including but not limited to: • the sale by the Company and purchase by the Brookfield Investor of one share of a new series of preferred stock designated as the Redeemable Preferred Share, par value $0.01 per share (the “Redeemable Preferred Share”), for a nominal purchase price; and • the sale by the Company and purchase by the Brookfield Investor of 9,152,542.37 Class C Units for a purchase price of $14.75 per Class C Unit, or $135.0 million in the aggregate. On February 27, 2018, the second closing under the SPA (the “Second Closing”) occurred, pursuant to which the Company sold 1,694,915.25 additional Class C Units to the Brookfield Investor, for a purchase price of $14.75 per Class C Unit, or $25.0 million in the aggregate. On February 27, 2019, the Final Closing occurred, pursuant to which we sold 14,898,060.78 additional Class C Units to the Brookfield Investor, for a purchase price of $14.75 per Class C Unit, or $219.7 million in the aggregate. Following the Final Closing, the Brookfield Investor no longer has any obligations or rights to purchase additional Class C Units pursuant to the SPA or otherwise (See Note 20 - Subsequent Events). Without obtaining the prior approval of the majority of the then outstanding Class C Units and/or at least one of the two directors (each, a "Redeemable Preferred Director") elected to the Company’s board of directors by the Brookfield Investor pursuant to its rights as the holder of the Redeemable Preferred Share, the Company is restricted from taking certain operational and governance actions. These restrictions (collectively referred to herein as the “Brookfield Approval Rights”) are subject to certain exceptions and conditions. See “Brookfield Approval Rights” below. The Redeemable Preferred Share The Redeemable Preferred Share held by the Brookfield Investor has been classified as permanent equity on the Consolidated Balance Sheets. The Redeemable Preferred Share ranks on parity with the Company’s common stock, with the same rights with respect to preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends and other distributions, qualifications, terms and conditions of redemption and other terms and conditions as the Company’s common stock, with certain exceptions. For so long as the Brookfield Investor holds the Redeemable Preferred Share, the Brookfield Investor has certain rights with respect to the election of members of the Company's board of directors and its committees, including the right to elect two Redeemable Preferred Directors to the Company’s board of directors and to approve two additional independent directors (each, an "Approved Independent Director") to be recommended and nominated by the Company's board of directors for election by the stockholders at each annual meeting. In addition, each committee of the Company's board of directors, subject to limited exceptions, must include at least one of the Redeemable Preferred Directors. The holder of the Redeemable Preferred Share has certain rights in the event the OP fails to redeem Class C Units when required to do so, including the right to increase the size of the Company's board of directors by a number of directors that would result in the holder of the Redeemable Preferred Share being entitled to nominate and elect a majority of the Company's board of directors, subject to compliance with the provisions of the Company's charter requiring at least a majority of the Company's directors to be Independent Directors (as defined in the Company's charter). Class C Units As of December 31, 2018, the Class C Units are reflected on the Consolidated Balance Sheets at $163.1 million . The value of the Class C Units as of December 31, 2018, is derived by reducing the $160.0 million in gross proceeds by the $14.8 million in costs directly attributable to the issuance of Class C Units, including $6.0 million paid directly to the Brookfield Investor at the Initial Closing in the form of expense reimbursements and a commitment fee, and increased by $13.6 million in quarterly distributions payable to holders of Class C Units in the form of additional Class C Units, $4.2 million in the accretion of the carrying value to the liquidation preference through December 31, 2018, and $0.1 million resulting from a change in value of the contingent forward liability. The Class C Units have been classified as temporary equity due to the contingent redemption features described in more detail below. At the Initial Closing, the Class C Units were deemed to have a “beneficial conversion feature” as the effective conversion price of the Class C Units under GAAP as of March 31, 2017 was less than the fair value of the Company's common stock on such date. As a result, the Company recognized the beneficial conversion feature as a deemed dividend of $4.5 million during the three months ended March 31, 2017, thereby reducing income available to common stockholders for purposes of calculating earnings per share. Rank The Class C Units rank senior to the OP Units and all other equity interests in the OP with respect to priority in payment of distributions and in the distribution of assets in the event of the liquidation, dissolution or winding-up of the OP, whether voluntary or involuntary, or any other distribution of the assets of the OP among its equity holders for the purpose of winding up its affairs. Distributions Commencing on June 30, 2017, holders of Class C Units are entitled to receive, with respect to each Class C Unit, fixed, quarterly cumulative cash distributions at a rate of 7.50% per annum from legally available funds. If the Company fails to pay these cash distributions when due, the per annum rate will increase to 10% until all accrued and unpaid distributions required to be paid in cash are reduced to zero . Commencing on June 30, 2017, holders of Class C Units are also entitled to receive, with respect to each Class C Unit, a fixed, quarterly, cumulative PIK Distribution at a rate of 5% per annum ("PIK Distributions"). If the Company fails to redeem the Brookfield Investor when required to do so pursuant to the amendment and restatement of the OP's existing agreement of limited partnership (the "A&R LPA"), the 5% per annum PIK Distribution rate will increase to a per annum rate of 7.50% , and would further increase by 1.25% per annum for the next four quarterly periods thereafter, up to a maximum per annum rate of 12.5% . The number of Class C Units delivered in respect of the PIK Distributions on any distribution payment date will be equal to the number obtained by dividing the amount of PIK Distribution by $14.75 . The Brookfield Investor is also entitled to receive tax distributions under certain limited circumstances. As of December 31, 2018, no tax distributions have been paid. For the year ended December 31, 2017, the Company paid cash distributions of $7.9 million and PIK Distributions of 355,349.60 Class C Units to the Brookfield Investor, as the sole holder of the Class C Units. For the year ended December 31, 2018, the Company paid cash distributions of $12.5 million and PIK Distributions of 564,870.56 Class C Units to the Brookfield Investor, as the sole holder of the Class C Units. Conversion Rights The Class C Units are generally convertible into OP Units at any time at the option of the holder thereof at an initial conversion price of $14.75 (the "Conversion Price"). The Conversion Price is subject to anti-dilution and other adjustments upon the occurrence of certain events and transactions. Liquidation Preference The liquidation preference with respect to each Class C Unit as of a particular date is the original purchase price paid under the SPA or the value upon issuance of any Class C Unit received as a PIK Distribution, plus, with respect to such Class C Unit up to but not including such date, (i) any accrued and unpaid cash distributions and (ii) any accrued and unpaid PIK Distributions. Mandatory Redemption The Class C Units are generally subject to mandatory redemption at a premium to liquidation preference if the OP consummates any liquidation, sale of all or substantially all of the assets, dissolution or winding-up, whether voluntary or involuntary, sale, merger, reorganization, reclassification or recapitalization or other similar event (a “Fundamental Sale Transaction”) prior to March 31, 2022. The amount of the premium, which may be substantial, varies based on the timing of consummation of the Fundamental Sale Transaction. Holder Redemptions The holders of the Class C Units may redeem such Class C Units at any time on or after March 31, 2022 for a redemption price in cash equal to the liquidation preference and also have certain other redemption rights in connection with the Company’s failure to maintain REIT status or material breaches of the A&R LPA. Remedies Upon Failure to Redeem If the OP fails to redeem Class C Units when required to do so pursuant to the terms of the A&R LPA, beginning three months after such failure BSREP II Hospitality II Special GP, OP LLC (the "Special General Partner"), an affiliate of the Brookfield Investor, has the exclusive right, power and authority to sell the assets or properties of the OP for cash at such time or times as the Special General Partner may determine, upon engaging a reputable, national third party sales broker or investment bank reasonably acceptable to holders of a majority of the then outstanding Class C Units to conduct an auction or similar process designed to maximize the sales price. The proceeds from sales of assets or properties by the Special General Partner must be used first to make any and all payments or distributions due or past due with respect to the Class C Units, regardless of the impact of such payments or distributions on the Company or the OP. The foregoing rights of the Special General Partner are in addition to the other rights described herein if the OP fails to redeem Class C Units when required to do so pursuant to the terms of the A&R LPA. Company Redemption After Five Years At any time and from time to time on or after March 31, 2022, the Company has the right to elect to redeem all or any part of the issued and outstanding Class C Units for an amount in cash equal to the liquidation preference. Transfer Restrictions The Brookfield Investor is generally permitted to make transfers of Class C Units without the prior consent of the Company, provided that any transferee must customarily invest in these types of securities or real estate investments of any type or have in excess of $100.0 million of assets. Preemptive Rights If the Company or the OP proposes to issue additional equity securities, subject to certain exceptions and in accordance with the procedures in the A&R LPA, any holder of Class C Units that owns Class C Units representing more than 5% of the outstanding shares of the Company’s common stock on an as-converted basis has certain preemptive rights. Brookfield Approval Rights The articles supplementary with respect to the Redeemable Preferred Share restrict the Company from taking certain actions without the prior approval of at least one of the Redeemable Preferred Directors, and the A&R LPA restricts the OP from taking certain actions without the prior approval of the majority of the then outstanding Class C Units. In general, subject to certain exceptions, prior approval is required before the Company or its subsidiaries (including the OP) are permitted to take any of the following actions: equity issuances; organizational document amendments; debt incurrences; affiliate transactions; sale of all or substantially all assets; bankruptcy or insolvency declarations; declarations or payments of dividends or other distributions; redemptions or repurchases of securities; adoption of, and amendments to, the annual business plan (including the annual operating and capital budget) required under the terms of the Redeemable Preferred Share; hiring and compensation decisions related to certain key personnel (including executive officers); property acquisitions and property sales and dispositions that do not meet transaction-size limits and other defined criteria and would be outside of the OP’s normal course of business; entry into new lines of business; settlement of material litigation; changes to material agreements; increasing or decreasing the number of directors on the Company’s board of directors; nominating or appointing a director (other than a Redeemable Preferred Director) who is not independent; nominating or appointing the chairperson of the Company’s board of directors; and certain other matters. Related Party Transactions and Arrangements Relationships with the Brookfield Investor and its Affiliates On January 12, 2017, the Company and the OP entered into the SPA and the Framework Agreement. On March 31, 2017, the Initial Closing occurred and a variety of transactions contemplated by the SPA and the Framework Agreement were consummated, including the issuance and sale of the Redeemable Preferred Share and 9,152,542.37 Class C Units and the execution or taking of various agreements and actions required to effectuate the Company's transition to self-management. On February 27, 2018, the Second Closing occurred, pursuant to which the Company sold 1,694,915.25 additional Class C Units to the Brookfield Investor, for a purchase price of $14.75 per Class C Unit, or $25.0 million in the aggregate. On February 27, 2019, the Final Closing occurred, pursuant to which the Company sold 14,898,060.78 additional Class C Units to the Brookfield Investor, for a purchase price of $14.75 per Class C Unit, or $219.7 million in the aggregate. Following the Final Closing, the Brookfield Investor no longer has any obligations or rights to purchase additional Class C Units pursuant to the SPA or otherwise. Holders of Class C Units are entitled to receive, with respect to each Class C Unit, fixed, quarterly cumulative cash distributions at a rate of 7.50% per annum from legally available funds. Holders of Class C Units are also entitled to receive, with respect to each Class C Unit, fixed, quarterly, cumulative PIK Distributions payable in Class C Units at a rate of 5% per annum. For the year ended December 31, 2017, the Company paid cash distributions of $7.9 million and PIK Distributions of 355,349.60 Class C Units to the Brookfield Investor, as the sole holder of the Class C Units. For the year ended December 31, 2018, the Company paid cash distributions of $12.5 million and PIK Distributions of 564,870.56 Class C Units to the Brookfield Investor, as the sole holder of the Class C Units. Two of the Company’s directors, Bruce G. Wiles, who also serves as Chairman of the Board, and Lowell G. Baron, have been elected to the Company’s board of directors as the Redeemable Preferred Directors pursuant to the Brookfield Investor’s rights as the holder of the Redeemable Preferred Share and pursuant to the SPA. Messrs. Wiles and Baron are Managing Partners of Brookfield Asset Management Inc., an affiliate of the Brookfield Investor. Relationships with AR Capital, AR Global and their Affiliates As of March 31, 2017, the Former Advisor, the Former Property Manager and Crestline were under common control with AR Capital, LLC (“AR Capital”) and AR Global Investments, LLC (“AR Global”), the successor to certain of AR Capital's businesses. AR Capital is the parent company of the Company’s former sponsor, American Realty Capital IX, LLC. Following the sale of AR Global’s membership interest in Crestline in April 2017, Crestline is no longer under common control with AR Global and AR Capital. At the Initial Closing, the Company terminated the Advisory Agreement and entered into a transition services agreement with the Former Advisor. In the second quarter of 2017, the transition services agreement with the Former Advisor expired by its terms. During the years ended December 31, 2017 and December 31, 2016, the Company incurred $4.6 million , and $18.0 million in asset management fees, respectively and $0.9 million , and $2.4 million in general and administrative expense reimbursements, respectively, charged by and due to the Former Advisor, and $2.0 million , and $8.5 million in property management fees charged by and due to the Former Property Manager. As all of the Company's arrangements with the Former Advisor and the Former Property Manager (as described in more detail below) have been terminated, there were no fees or reimbursements to these parties incurred by the Company during the year ended December 31, 2018. Except for the short-term note payable due to the Former Property Manager described below which was repaid in full during March 2018, there were no fees or reimbursements payable due to the Former Advisor and its affiliates as of December 31, 2018 and December 31, 2017, respectively. Property Management Transactions At the Initial Closing, as contemplated by and pursuant to the Framework Agreement, the Company entered into a series of amendments, assignments and terminations with respect to its then existing property management arrangements (collectively, the "Property Management Transactions"), the primary effect of which was to terminate the Former Property Manager as the Company's property manager, and enter into direct property management agreements with the Company's then existing sub-managers, which included Crestline. As consideration for the Property Management Transactions, the Company and the OP: • paid a one-time cash amount equal to $10.0 million to the Former Property Manager; • made a monthly cash payment in the amount of $333,333.33 , $4.0 million in the aggregate, to the Former Property Manager on the 15th day of each month for the 12 months following the Initial Closing (See Note 7 - Promissory Notes Payable), all of which have been completed as of March 31, 2018; • issued 279,329 shares of the Company's common stock to the Former Property Manager, for which the fair value on the date of grant has been determined to be $14.59 per share (See Note 10 - Common Stock); • waived any and all obligations of the Former Advisor to refund or otherwise repay any Organization or Offering Expenses (as defined in the Advisory Agreement) to the Company in an amount acknowledged to be $5,821,988 , which amount had been reflected as a reduction in offering proceeds due to it being directly related to issuing shares of common stock in prior periods; and • converted all 524,956 units of limited partnership in the OP entitled “Class B Units” (“Class B Units") held by the Former Advisor into 524,956 OP Units, and, immediately following such conversion, redeemed such 524,956 OP Units for 524,956 shares of the Company’s common stock. The foregoing consideration aggregated to $31.6 million and was recorded as goodwill on the Company’s Consolidated Balance Sheets (See Note 4 - Business Combinations). During 2018 and 2017, the Company recorded impairments to the goodwill (See Note 17 - Impairments).

Economic Dependency

Economic Dependency	12 Months Ended
	Dec. 31, 2018
Economic Dependency [Abstract]
Economic Dependency	Economic Dependency Prior to the Initial Closing, the Company was dependent on the Former Advisor and its affiliates. Going forward, the Company intends to continue pursuing its investment strategies, subject to the Brookfield Approval Rights (See Note 3 - Brookfield Investment). As a result of these relationships, the Company is dependent upon the Brookfield Investor and its affiliates.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company elected to be taxed as a REIT under Sections 856 through 860 of the Code commencing with its tax year ended December 31, 2014 . In order to continue to qualify as a REIT, the Company must annually distribute to its stockholders 90% of its REIT taxable income (which does not equal net income as calculated in accordance with GAAP), determined without regard to the deduction for dividends paid and excluding net capital gain, and must comply with various other organizational and operational requirements. As of December 31, 2018 , the REIT has approximately $195.5 million of net operating loss ("NOL") carry forward that may be used in the future to reduce the amount otherwise required to be distributed by the Company to meet REIT requirements. These NOLs will begin to expire after 2034. The Company's TRSs had a combined loss (calculated in accordance with GAAP) in 2018, largely due to the goodwill impairment expense, which resulted in income tax benefit in 2018. The components of income tax expense for the years ended December 31, 2018 , December 31, 2017 and December 31, 2016 are presented in the following table, in thousands. Year Ended December 31, 2018 2017 2016 Current tax (benefit) expense: Federal $ 288 $ (146 ) $ 994 State 331 217 48 Total $ 619 $ 71 $ 1,042 Deferred tax (benefit) expense: Federal $ (2,089 ) $ (1,283 ) $ 308 State (1,136 ) (714 ) 21 Total (3,225 ) (1,997 ) 329 Total income tax (benefit) expense $ (2,606 ) $ (1,926 ) $ 1,371 A reconciliation of the statutory federal income tax benefit of the Company's income tax expense is presented in the following table, in thousands. Year Ended December 31, 2018 2017 2016 Statutory federal income tax benefit $ (18,618 ) $ (24,843 ) $ (23,991 ) Effect of non-taxable REIT loss 16,280 22,084 25,266 State income tax expense, net of federal tax benefit (268 ) (110 ) 96 Re-measurement of net deferred tax assets — 943 — Income tax (benefit) expense $ (2,606 ) $ (1,926 ) $ 1,371 The tax effect of each type of temporary difference and carryforward, that gives rise to the deferred tax assets and liabilities for the year ended December 31, 2018 , and December 31, 2017 are presented in the following table, in thousands. Year Ended December 31, 2018 2017 Deferred tax asset: Goodwill 1,267 1,691 Net operating losses 3,979 295 Total Deferred Tax Assets $ 5,246 $ 1,986 Deferred tax liability: Investments in unconsolidated entities $ (74 ) $ (52 ) Other (38 ) (25 ) Total deferred tax liabilities (112 ) (77 ) Net deferred tax asset $ 5,134 $ 1,909 The Company believes that it is more likely than not that the results of future TRS operations will generate sufficient taxable income in order to realize our total deferred tax assets. Accordingly, no valuation allowance has been recorded as of December 31, 2018. As of December 31, 2018 , the tax years that remain subject to examination by major tax jurisdictions include 2014, 2015, 2016, 2017 and 2018. There were no material interest or penalties recorded for the years ended December 31, 2018, 2017, and 2016. As of December 31, 2018 , the Company's taxable REIT subsidiaries have $15.4 million of net operating loss carry forwards that will begin to expire after 2037.

Impairments

Impairments	12 Months Ended
	Dec. 31, 2018
Real Estate [Abstract]
Impairments	Impairments Impairments of Long-Lived Assets During the year ended December 31, 2018, the Company identified six hotel properties where the carrying value of the properties exceeded their fair value and management determined the excess carrying value was unrecoverable. The Company recorded cumulative impairment losses of $26.4 million on the six hotels. Two of the hotels were identified during the quarter ended December 31, 2018 in connection with the Company's annual fair value assessment of its hotel properties. The other four hotels were identified for impairment review during the quarter ended June 30, 2018 because of a long-term change in market conditions and the potential sale of such properties. The Company determined the fair value of each hotel using market and income based approaches. The market approach estimates value based on what other purchasers and sellers in the market have agreed to as price for comparable properties. The income approach utilizes assumptions such as discount rates, future cash flow, and capitalization rates. During the year ended December 31, 2017, the Company identified four hotel properties where the carrying value of the properties exceeded their fair value and management determined the excess carrying value was unrecoverable. The Company recorded cumulative impairment losses of $10.4 million on these four hotels. Two of the hotels were identified during the quarter ended June 30, 2017 in connection with the approval of the Company's 2017 Estimated Per-Share NAV. The other two hotels were identified during the quarter ended December 31, 2017 in connection with the Company's annual fair value assessment of its hotel properties. During the year ended December 31, 2017, the Company also recognized additional impairment losses of $5.2 million , including impairment of $3.9 million on the sale of two hotels and impairment loss of $1.3 million on one hotel classified as held for sale as of December 31, 2017 , which included the costs to sell those assets. During the year ended December 31, 2016, the Company recorded $2.4 million of impairment losses on one hotel property. This hotel was tested for recoverability because a decrease in operating performance was determined by the Company to be a long-term change in market conditions. Impairment of Goodwill As described in Note 4 - Business Combinations, the Company determined that the consummation of the transactions contemplated by the Framework Agreement on March 31, 2017 represented a business combination as defined by Accounting Standards Codification section 805 - Business Combinations. In applying the acquisition method of accounting, the Company recognized $31.6 million of goodwill as a result of the transaction. The Company allocated the goodwill recognized to each of its wholly-owned hotels based on its determination that each hotel is a reporting unit as defined in US GAAP. For any reporting unit for which the Company has performed a recoverability test (as described above under Impairments of Long-Lived Assets), ASC 350 requires that the Company also evaluate the goodwill allocated to such reporting unit for impairment. In performing this evaluation, the Company compares the fair value of the reporting unit to the carrying amount of such reporting unit including the allocation of goodwill. As required by ASC 350, as amended by ASU 2017-04, if the carrying amount of the reporting unit exceeds its fair value, the Company will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit's carrying amount over its fair value, not to exceed the total amount of goodwill allocated to such reporting unit. The Company determined the fair values of each reporting unit using market and income based methods. The market approach estimates value based on what other purchasers and sellers in the market have agreed to as price for comparable properties. The income approach utilizes assumptions such as discount rates, future cash flow, and capitalization rates. During year ended December 31, 2018, the Company determined that approximately $3.4 million of goodwill allocated to 16 reporting units for which the fair value was less than the carrying amount was impaired. The range of goodwill impairment recorded by each reporting unit was from less than $0.1 million to $0.6 million , with an average impairment of $0.2 million . During the year ended December 31, 2017, the Company determined that approximately $17.1 million of goodwill allocated to 82 reporting units for which the fair value was less than the carrying amount was impaired. The range of goodwill impairment recorded by each reporting unit was from less than $0.1 million to $1.3 million , with an average impairment of $0.2 million . The goodwill impairment is reflected in impairment of goodwill and long-lived assets on the Company's Consolidated Statement of Operations and Comprehensive Loss for the year ended December 31, 2018 and December 31, 2017, respectively. Sales of Hotels During the year ended December 31, 2017 , the Company completed the sale of three hotels for a sales price of $11.7 million , resulting in a net gain of approximately $0.1 million , which is reflected in other income (expense) on the Company’s Consolidated Statement of Operations and Comprehensive Loss. The Company used the proceeds from the sale of the hotels to redeem $8.8 million in Grace Preferred Equity Interests in accordance with their terms and for other general corporate purposes. The Company also recognized an impairment loss on two of the three hotels sold, totaling $3.9 million , which includes the costs to sell those assets. During the year ended December 31, 2018, the Company completed the sale of one hotel for a sales price of $5.7 million , resulting in a net loss of approximately $0.1 million , which is reflected in other income on the Company’s Consolidated Statement of Operations and Comprehensive Loss. The Company used the proceeds from the sale of the hotel to redeem $3.8 million in Grace Preferred Equity Interests in accordance with their terms and for other general corporate purposes.

Sales of Hotels

Sales of Hotels	12 Months Ended
	Dec. 31, 2018
Real Estate [Abstract]
Sales of Hotels	Impairments Impairments of Long-Lived Assets During the year ended December 31, 2018, the Company identified six hotel properties where the carrying value of the properties exceeded their fair value and management determined the excess carrying value was unrecoverable. The Company recorded cumulative impairment losses of $26.4 million on the six hotels. Two of the hotels were identified during the quarter ended December 31, 2018 in connection with the Company's annual fair value assessment of its hotel properties. The other four hotels were identified for impairment review during the quarter ended June 30, 2018 because of a long-term change in market conditions and the potential sale of such properties. The Company determined the fair value of each hotel using market and income based approaches. The market approach estimates value based on what other purchasers and sellers in the market have agreed to as price for comparable properties. The income approach utilizes assumptions such as discount rates, future cash flow, and capitalization rates. During the year ended December 31, 2017, the Company identified four hotel properties where the carrying value of the properties exceeded their fair value and management determined the excess carrying value was unrecoverable. The Company recorded cumulative impairment losses of $10.4 million on these four hotels. Two of the hotels were identified during the quarter ended June 30, 2017 in connection with the approval of the Company's 2017 Estimated Per-Share NAV. The other two hotels were identified during the quarter ended December 31, 2017 in connection with the Company's annual fair value assessment of its hotel properties. During the year ended December 31, 2017, the Company also recognized additional impairment losses of $5.2 million , including impairment of $3.9 million on the sale of two hotels and impairment loss of $1.3 million on one hotel classified as held for sale as of December 31, 2017 , which included the costs to sell those assets. During the year ended December 31, 2016, the Company recorded $2.4 million of impairment losses on one hotel property. This hotel was tested for recoverability because a decrease in operating performance was determined by the Company to be a long-term change in market conditions. Impairment of Goodwill As described in Note 4 - Business Combinations, the Company determined that the consummation of the transactions contemplated by the Framework Agreement on March 31, 2017 represented a business combination as defined by Accounting Standards Codification section 805 - Business Combinations. In applying the acquisition method of accounting, the Company recognized $31.6 million of goodwill as a result of the transaction. The Company allocated the goodwill recognized to each of its wholly-owned hotels based on its determination that each hotel is a reporting unit as defined in US GAAP. For any reporting unit for which the Company has performed a recoverability test (as described above under Impairments of Long-Lived Assets), ASC 350 requires that the Company also evaluate the goodwill allocated to such reporting unit for impairment. In performing this evaluation, the Company compares the fair value of the reporting unit to the carrying amount of such reporting unit including the allocation of goodwill. As required by ASC 350, as amended by ASU 2017-04, if the carrying amount of the reporting unit exceeds its fair value, the Company will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit's carrying amount over its fair value, not to exceed the total amount of goodwill allocated to such reporting unit. The Company determined the fair values of each reporting unit using market and income based methods. The market approach estimates value based on what other purchasers and sellers in the market have agreed to as price for comparable properties. The income approach utilizes assumptions such as discount rates, future cash flow, and capitalization rates. During year ended December 31, 2018, the Company determined that approximately $3.4 million of goodwill allocated to 16 reporting units for which the fair value was less than the carrying amount was impaired. The range of goodwill impairment recorded by each reporting unit was from less than $0.1 million to $0.6 million , with an average impairment of $0.2 million . During the year ended December 31, 2017, the Company determined that approximately $17.1 million of goodwill allocated to 82 reporting units for which the fair value was less than the carrying amount was impaired. The range of goodwill impairment recorded by each reporting unit was from less than $0.1 million to $1.3 million , with an average impairment of $0.2 million . The goodwill impairment is reflected in impairment of goodwill and long-lived assets on the Company's Consolidated Statement of Operations and Comprehensive Loss for the year ended December 31, 2018 and December 31, 2017, respectively. Sales of Hotels During the year ended December 31, 2017 , the Company completed the sale of three hotels for a sales price of $11.7 million , resulting in a net gain of approximately $0.1 million , which is reflected in other income (expense) on the Company’s Consolidated Statement of Operations and Comprehensive Loss. The Company used the proceeds from the sale of the hotels to redeem $8.8 million in Grace Preferred Equity Interests in accordance with their terms and for other general corporate purposes. The Company also recognized an impairment loss on two of the three hotels sold, totaling $3.9 million , which includes the costs to sell those assets. During the year ended December 31, 2018, the Company completed the sale of one hotel for a sales price of $5.7 million , resulting in a net loss of approximately $0.1 million , which is reflected in other income on the Company’s Consolidated Statement of Operations and Comprehensive Loss. The Company used the proceeds from the sale of the hotel to redeem $3.8 million in Grace Preferred Equity Interests in accordance with their terms and for other general corporate purposes.

Quarterly Results (Unaudited)

Quarterly Results (Unaudited)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results (Unaudited)	Quarterly Results (Unaudited) Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2018 , December 31, 2017 and December 31, 2016: Quarters Ended (In thousands, except for share amounts) March 31, 2018 June 30, 2018 September 30, 2018 December 31, 2018 Total revenues $ 139,958 $ 164,835 $ 160,325 $ 140,941 Net loss attributable to common stockholders $ (23,799 ) $ (29,439 ) $ (16,893 ) $ (39,418 ) Basic and Diluted weighted average shares outstanding 39,498,253 39,502,003 39,336,099 39,334,125 Basic and Diluted net loss attributable to common stockholders per common share $ (0.60 ) $ (0.75 ) $ (0.43 ) $ (1.00 ) Quarters Ended (In thousands, except for share amounts) March 31, 2017 June 30, 2017 September 30, 2017 December 31, 2017 Total revenues $ 143,703 $ 167,012 $ 167,241 $ 143,119 Net loss attributable to common stockholders $ (20,679 ) $ (27,255 ) $ (14,058 ) $ (28,701 ) Basic and Diluted weighted average shares outstanding 38,810,386 39,610,265 39,611,261 39,603,885 Basic and Diluted net loss attributable to common stockholders per common share $ (0.53 ) $ (0.69 ) $ (0.35 ) $ (0.72 ) Quarters Ended (In thousands, except for share amounts) March 31, 2016 June 30, 2016 September 30, 2016 December 31, 2016 Total revenues $ 135,153 $ 163,230 $ 161,458 $ 139,751 Net loss attributable to common stockholders $ (43,957 ) $ (7,024 ) $ (6,684 ) $ (14,582 ) Basic and Diluted weighted average shares outstanding 38,571,410 38,776,850 38,788,041 38,794,215 Basic and Diluted net loss attributable to common stockholders per common share $ (1.14 ) $ (0.18 ) $ (0.17 ) $ (0.38 )

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Final Closing under the SPA On February 27, 2019, the Final Closing occurred, pursuant to which the Company sold 14,898,060.78 additional Class C Units to the Brookfield Investor, for a purchase price of $14.75 per Class C Unit, or $219.7 million in the aggregate, and the Brookfield Investor no longer has any obligations or rights to purchase additional Class C Units pursuant to the SPA or otherwise. Pursuant to the SPA, the gross proceeds from the sale of the Class C Units at the Final Closing were used to redeem the remaining $219.7 million of Grace Preferred Equity Interests. Baltimore Providence and Providence Courtyard Loan On April 5, 2019, the Company refinanced mortgage debt on two of its hotel properties: the Courtyard Baltimore Downtown/Inner Harbor, a 205-key select service hotel located in Baltimore, MD (the “Courtyard Baltimore”), and the Courtyard Providence Downtown, a 219-key select service hotel located in downtown Providence, RI (the “Providence Courtyard”). The Company, through certain of its subsidiaries, entered into a new mortgage loan agreement (the “Refinanced Baltimore Courtyard and Providence Courtyard Mortgage Loan”) and a new mezzanine loan agreement (the “Refinanced Baltimore Courtyard and Providence Courtyard Mezzanine Loan”), each with Deutsche Bank AG, New York Branch, as lender, in an aggregate principal amount of $46.1 million (such loans collectively, the “Refinanced Baltimore Courtyard and Providence Courtyard Loans”). The Baltimore Courtyard and the Providence Courtyard properties serve as collateral for the Refinanced Baltimore Courtyard and Providence Courtyard Mortgage Loan and the Company’s ownership interest in the entities which own and operate the Baltimore Courtyard and the Providence Courtyard properties serve as collateral for the Refinanced Baltimore Courtyard and Providence Courtyard Mezzanine Loan. At the closing of the Refinanced Baltimore Courtyard and Providence Courtyard Loans, the net proceeds after accrued interest and certain closing costs were used to repay the $45.5 million principal amount then outstanding under the Company’s existing mortgage indebtedness on the Baltimore Courtyard and the Providence Courtyard properties. The Refinanced Baltimore Courtyard and Providence Courtyard Loans mature on May 1, 2021, subject to three (one-year) extension rights which, if all three extension rights are exercised, would result in an outside maturity date of May 1, 2024. The Refinanced Baltimore Courtyard and Providence Courtyard Loans are fully prepayable, in whole but not in part, (i) without any prepayment fees or any other fee or penalty, during the period prior to October 1, 2019 and after April 1, 2021, and (ii) subject to payment of certain prepayment fees, during the period from October 1, 2019 to April 1, 2021. Each of the Refinanced Baltimore Courtyard and Providence Courtyard Mortgage Loan and the Refinanced Baltimore Courtyard and Providence Courtyard Mezzanine Loan require monthly interest payments at a variable rate equal to one-month LIBOR plus 2.75% . For the term of the Refinanced Baltimore Courtyard and Providence Courtyard Loans, the Company and the OP are required to maintain, on a consolidated basis, a net worth of $50.0 million (excluding accumulated depreciation and amortization).

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III, Real Estate and Accumulated Depreciation	Initial Cost Subsequent Costs Capitalized Gross Amount at December 31, 2018 (1) Property U.S. State or Country Acquisition Debt at December 31, 2018 Land Building and Land Building and Improvements Land Building and Improvements Total Accumulated Courtyard Baltimore Downtown Inner Harbor MD 2014 (24,980 ) 4,961 34,343 — — 4,961 34,343 39,304 (4,163 ) Courtyard Providence Downtown RI 2014 (20,520 ) 4,724 29,388 — 1,247 4,724 30,635 35,359 (3,891 ) Georgia Tech Hotel and Conference Center GA 2014 (10,427 ) — — — — — — — Homewood Suites Stratford CT 2014 (12,500 ) 2,377 13,875 — 1,423 2,377 15,298 17,674 (2,208 ) Westin Virginia Beach Town Center VA 2014 — — — — — — — Hilton Garden Inn Blacksburg VA 2014/2015 (10,500 ) — 14,107 — 882 — 14,990 14,990 (1,388 ) Courtyard Lexington South Hamburg Place KY 2015 (11,546 ) 2,766 10,242 — 675 2,766 10,917 13,684 (1,078 ) Courtyard Louisville Downtown KY 2015 (31,124 ) 3,727 33,543 — 3,165 3,727 36,708 40,436 (3,368 ) Embassy Suites Orlando International Drive Jamaican Court FL 2015 (32,119 ) 2,356 23,646 (4 ) 1,776 2,352 25,421 27,773 (2,950 ) Fairfield Inn & Suites Atlanta Vinings GA 2015 (1,028 ) 1,394 8,968 — 2,347 1,395 11,315 12,710 (1,517 ) Homewood Suites Chicago Downtown IL 2015 (57,469 ) 15,314 73,248 4 5,975 15,318 79,223 94,541 (9,087 ) Hyatt Place Albuquerque Uptown NM 2015 (16,301 ) 987 16,386 (1 ) 1,206 986 17,591 18,577 (1,898 ) Hyatt Place Baltimore Washington Airport MD 2015 (10,239 ) 3,129 9,068 2 1,357 3,131 10,424 13,555 (1,389 ) Hyatt Place Baton Rouge I 10 LA 2015 (9,208 ) 1,888 8,897 (1 ) 1,279 1,887 10,175 12,062 (1,142 ) Hyatt Place Birmingham Hoover AL 2015 (4,971 ) 956 9,689 1 1,679 957 11,367 12,324 (1,174 ) Hyatt Place Cincinnati Blue Ash OH 2015 (6,455 ) 652 7,951 (303 ) (3,529 ) 349 4,422 4,771 — Hyatt Place Columbus Worthington OH 2015 (7,917 ) 1,063 11,319 (1 ) 1,769 1,063 13,087 14,150 (1,303 ) Hyatt Place Indianapolis Keystone IN 2015 (15,470 ) 1,918 13,935 (1 ) 1,337 1,917 15,271 17,188 (1,699 ) Hyatt Place Memphis Wolfchase Galleria TN 2015 (10,411 ) 971 14,505 2 1,696 974 16,202 17,175 (1,574 ) Hyatt Place Miami Airport West Doral FL 2015 (15,020 ) 2,634 17,897 1 1,889 2,634 19,786 22,420 (2,000 ) Hyatt Place Nashville Franklin Cool Springs TN 2015 (15,240 ) 2,201 15,003 2 1,804 2,202 16,807 19,009 (1,780 ) Hyatt Place Richmond Innsbrook VA 2015 (8,883 ) 1,584 8,013 (5 ) 1,483 1,578 9,497 11,075 (1,362 ) Hyatt Place Tampa Airport Westshore FL 2015 (15,879 ) 3,329 15,710 (5 ) 1,255 3,324 16,965 20,290 (1,844 ) Residence Inn Lexington South Hamburg Place KY 2015 (10,777 ) 2,044 13,313 — 2,024 2,044 15,337 17,381 (1,773 ) SpringHill Suites Lexington Near The University Of Kentucky KY 2015 (11,442 ) 3,321 13,064 — 2,010 3,321 15,074 18,395 (1,484 ) Hampton Inn Albany Wolf Road Airport NY 2015 (16,849 ) 1,717 16,572 — 2,281 1,717 18,852 20,570 (1,915 ) Hampton Inn Colorado Springs Central Airforce Academy CO 2015 (873 ) 449 6,322 — 13 449 6,335 6,784 (784 ) Hampton Inn Baltimore Glen Burnie MD 2015 (5,290 ) — 5,438 — 1,380 — 6,818 6,818 (1,679 ) Hampton Inn Beckley WV 2015 (13,277 ) 857 13,670 — 979 857 14,649 15,506 (1,459 ) Hampton Inn Birmingham Mountain Brook AL 2015 (6,476 ) — 9,863 — 1,666 — 11,529 11,529 (1,113 ) Hampton Inn Boca Raton FL 2015 (11,744 ) 2,027 10,420 — 1,916 2,027 12,336 14,363 (1,319 ) Hampton Inn Boca Raton Deerfield Beach FL 2015 (8,000 ) 2,781 9,338 — 63 2,781 9,401 12,182 (1,008 ) Hampton Inn Chicago Gurnee IL 2015 (8,529 ) 757 12,189 — 76 757 12,266 13,023 (1,331 ) Hampton Inn Columbia I 26 Airport SC 2015 (6,672 ) 1,209 3,684 — 1,517 1,209 5,201 6,410 (649 ) Hampton Inn Columbus Dublin OH 2015 (8,492 ) 1,140 10,856 (416 ) (4,591 ) 724 6,265 6,989 (96 ) Hampton Inn Detroit Madison Heights South Troy MI 2015 (11,655 ) 1,950 11,834 — 1,015 1,950 12,849 14,799 (1,294 ) Hampton Inn Detroit Northville MI 2015 (7,564 ) 1,210 8,591 — 974 1,210 9,565 10,775 (1,165 ) Hampton Inn Kansas City Overland Park KS 2015 (6,882 ) 1,233 9,210 — 1,170 1,233 10,380 11,613 (1,317 ) Hampton Inn Kansas City Airport MO 2015 (10,444 ) 1,362 9,247 — 261 1,362 9,509 10,871 (1,035 ) Hampton Inn Memphis Poplar TN 2015 (10,876 ) 2,168 10,618 — 1,639 2,168 12,257 14,425 (1,246 ) Hampton Inn Morgantown WV 2015 (9,243 ) 3,062 12,810 — 422 3,062 13,233 16,294 (1,343 ) Hampton Inn Norfolk Naval Base VA 2015 (2,390 ) — 6,873 — 2,011 — 8,884 8,884 (1,495 ) Hampton Inn Palm Beach Gardens FL 2015 (17,133 ) 3,253 17,724 — 1,450 3,253 19,174 22,427 (1,840 ) Hampton Inn Pickwick Dam Shiloh Falls TN 2015 (2,210 ) 148 2,089 — 120 148 2,209 2,357 (336 ) Hampton Inn Scranton Montage Mountain PA 2015 (8,346 ) 754 11,174 — 1,250 754 12,424 13,177 (1,252 ) Hampton Inn St Louis Westport MO 2015 (9,417 ) 1,359 8,486 — 854 1,359 9,340 10,698 (949 ) Hampton Inn State College PA 2015 (11,653 ) 2,509 9,359 — 1,934 2,509 11,293 13,802 (1,202 ) Hampton Inn West Palm Beach Florida Turnpike FL 2015 (14,425 ) 2,008 13,636 — 54 2,008 13,690 15,698 (1,412 ) Homewood Suites Hartford Windsor Locks CT 2015 (9,633 ) 3,072 8,996 — 3,628 3,072 12,624 15,696 (1,656 ) Homewood Suites Memphis Germantown TN 2015 (6,283 ) 1,024 8,871 — 2,345 1,024 11,216 12,239 (1,571 ) Homewood Suites Phoenix Biltmore AZ 2015 (17,226 ) — 23,722 — 2,335 — 26,057 26,057 (2,705 ) Hampton Inn & Suites Boynton Beach FL 2015 (26,074 ) 1,393 24,759 — 2,043 1,393 26,802 28,195 (2,563 ) Hampton Inn Cleveland Westlake OH 2015 (8,790 ) 4,177 10,002 (2,499 ) (6,347 ) 1,678 3,655 5,333 (129 ) Courtyard Athens Downtown GA 2015 (10,024 ) 3,201 7,305 — 1,796 3,201 9,100 12,301 (879 ) Courtyard Gainesville FL 2015 (12,618 ) 2,904 8,605 — 178 2,904 8,783 11,687 (962 ) Courtyard Knoxville Cedar Bluff TN 2015 (7,531 ) 1,289 8,556 — 1,366 1,289 9,923 11,212 (1,135 ) Courtyard Mobile AL 2015 (681 ) — 3,657 — 1,528 — 5,186 5,186 (790 ) Courtyard Orlando Altamonte Springs Maitland FL 2015 (13,993 ) 1,716 11,463 — 176 1,716 11,639 13,356 (1,197 ) Courtyard Sarasota Bradenton FL 2015 (11,230 ) 1,928 8,334 — 1,864 1,928 10,198 12,126 (1,020 ) Courtyard Tallahassee North I 10 Capital Circle FL 2015 (12,385 ) 2,767 9,254 — 277 2,767 9,531 12,298 (1,086 ) Holiday Inn Express & Suites Kendall East Miami FL 2015 (7,707 ) 1,248 7,525 — 568 1,248 8,093 9,341 (819 ) Residence Inn Chattanooga Downtown TN 2015 (10,876 ) 1,142 10,112 — 1,406 1,142 11,518 12,659 (1,259 ) Residence Inn Fort Myers FL 2015 (9,586 ) 1,372 8,765 — 1,919 1,372 10,684 12,056 (1,075 ) Residence Inn Knoxville Cedar Bluff TN 2015 (8,761 ) 1,474 9,580 — 2,050 1,474 11,630 13,104 (1,187 ) Residence Inn Macon GA 2015 (5,585 ) 1,046 5,381 — 1,625 1,046 7,006 8,052 (1,068 ) Residence Inn Mobile AL 2015 (4,519 ) — 6,714 — 1,130 — 7,844 7,844 (768 ) Residence Inn Sarasota Bradenton FL 2015 (10,931 ) 2,138 9,118 — 2,165 2,138 11,283 13,421 (1,048 ) Residence Inn Savannah Midtown GA 2015 (8,840 ) 1,106 9,349 — 1,757 1,106 11,106 12,212 (1,178 ) Residence Inn Tallahassee North I 10 Capital Circle FL 2015 (9,019 ) 1,349 9,983 — 1,821 1,349 11,804 13,153 (1,320 ) Residence Inn Tampa North I 75 Fletcher FL 2015 (9,219 ) 1,251 8,174 — 2,188 1,251 10,362 11,612 (1,012 ) Residence Inn Tampa Sabal Park Brandon FL 2015 (14,242 ) 1,773 10,830 — 2,816 1,773 13,646 15,419 (1,290 ) Courtyard Bowling Green Convention Center KY 2015 (9,012 ) 503 11,003 — 1,299 504 12,302 12,806 (1,154 ) Courtyard Chicago Elmhurst Oakbrook Area IL 2015 (7,182 ) 1,323 11,868 — 183 1,323 12,051 13,374 (2,773 ) Courtyard Jacksonville Airport Northeast FL 2015 (6,229 ) 1,783 5,459 — 1,461 1,783 6,920 8,703 (1,143 ) Hampton Inn & Suites Nashville Franklin Cool Springs TN 2015 (19,714 ) 2,526 16,985 — 2,038 2,525 19,023 21,548 (1,842 ) Hampton Inn Boston Peabody MA 2015 (13,102 ) 3,008 11,846 — 1,248 3,008 13,094 16,102 (1,412 ) Hampton Inn Grand Rapids North MI 2015 (11,923 ) 2,191 11,502 — 1,441 2,191 12,943 15,134 (1,377 ) Homewood Suites Boston Peabody MA 2015 (7,235 ) 2,508 8,654 — 2,908 2,508 11,562 14,070 (1,797 ) Hyatt Place Las Vegas NV 2015 (18,772 ) 2,902 17,419 — 1,733 2,902 19,153 22,055 (2,244 ) Hyatt Place Minneapolis Airport South MN 2015 (12,118 ) 2,519 11,810 — 1,259 2,519 13,068 15,587 (1,447 ) Residence Inn Boise Downtown ID 2015 (13,350 ) 1,776 10,203 — 4,791 1,776 14,993 16,770 (1,801 ) Residence Inn Portland Downtown Lloyd Center OR 2015 (39,803 ) 25,213 23,231 — 551 25,213 23,782 48,994 (2,797 ) SpringHill Suites Grand Rapids North MI 2015 (10,627 ) 1,063 9,312 — 1,895 1,063 11,208 12,271 (1,085 ) Hyatt Place Kansas City Overland Park Metcalf KS 2015 (4,864 ) 1,038 7,792 — 1,696 1,039 9,488 10,526 (1,287 ) Courtyard Asheville NC 2015 (14,206 ) 2,236 10,290 — 1,396 2,236 11,687 13,922 (1,140 ) Courtyard Dallas Market Center TX 2015 (16,833 ) — 19,768 — 2,516 — 22,284 22,284 (2,457 ) Fairfield Inn & Suites Dallas Market Center TX 2015 (11,386 ) 1,550 7,236 1 28 1,552 7,264 8,816 (758 ) Hilton Garden Inn Austin Round Rock TX 2015 (9,093 ) 2,797 10,920 2 2,463 2,799 13,383 16,182 (1,519 ) Residence Inn Los Angeles Airport El Segundo CA 2015 (42,499 ) 16,416 21,618 13 1,857 16,429 23,476 39,904 (2,544 ) Residence Inn San Diego Rancho Bernardo Scripps Poway CA 2015 (21,885 ) 5,261 18,677 — 1,637 5,261 20,314 25,575 (1,941 ) SpringHill Suites Austin Round Rock TX 2015 (6,577 ) 2,196 8,305 (1 ) 2,632 2,196 10,937 13,133 (1,058 ) SpringHill Suites Houston Hobby Airport TX 2015 (4,076 ) 762 11,755 (307 ) (3,732 ) 455 8,023 8,478 — SpringHill Suites San Antonio Medical Center Northwest TX 2015 (676 ) — 7,161 — 1,029 — 8,190 8,190 (317 ) SpringHill Suites San Diego Rancho Bernardo Scripps Poway CA 2015 (21,425 ) 3,905 16,999 (3 ) 3,363 3,902 20,362 24,264 (1,868 ) Hampton Inn Charlotte Gastonia NC 2015 (10,163 ) 1,357 10,073 — 1,934 1,357 12,008 13,365 (1,149 ) Hampton Inn Dallas Addison TX 2015 (7,975 ) 1,538 7,475 — 116 1,538 7,591 9,129 (832 ) Homewood Suites San Antonio Northwest TX 2015 (8,429 ) 1,998 13,060 — 4,018 1,998 17,078 19,076 (2,147 ) Courtyard Dalton GA 2015 (7,373 ) 676 8,241 1 1,763 677 10,005 10,681 (1,170 ) Hampton Inn Orlando International Drive Convention Center FL 2015 (13,148 ) 1,183 14,899 — 4,325 1,183 19,224 20,407 (1,580 ) Hilton Garden Inn Albuquerque North Rio Rancho NM 2015 (8,924 ) 1,141 9,818 1 2,727 1,142 12,545 13,687 (1,074 ) Homewood Suites Orlando International Drive Convention Center FL 2015 (22,894 ) 2,182 26,507 6 1,033 2,187 27,540 29,727 (2,770 ) Hampton Inn Chicago Naperville IL 2015 (8,823 ) 1,363 9,460 — 1,186 1,363 10,645 12,008 (1,231 ) Hampton Inn Indianapolis Northeast Castleton IN 2015 (10,561 ) 1,587 8,144 — 49 1,587 8,193 9,780 (1,268 ) Hampton Inn Knoxville Airport TN 2015 (6,095 ) 1,033 5,898 — — 1,033 5,898 6,931 (863 ) Hampton Inn Milford CT 2015 (3,765 ) 1,652 5,060 — 2,675 1,652 7,734 9,386 (1,069 ) Homewood Suites Augusta GA 2015 (6,370 ) 874 8,225 — 1,752 874 9,977 10,851 (1,227 ) Homewood Suites Seattle Downtown WA 2015 (50,154 ) 12,580 41,011 — 4,698 12,580 45,709 58,289 (4,503 ) Hampton Inn Champaign Urbana IL 2015 (15,893 ) 2,206 17,451 — 3 2,206 17,454 19,660 (1,766 ) Hampton Inn East Lansing MI 2015 (10,050 ) 3,219 10,101 — 936 3,219 11,037 14,257 (1,138 ) Hilton Garden Inn Louisville East KY 2015 (14,210 ) 1,022 16,350 1 2,259 1,023 18,609 19,632 (1,683 ) Residence Inn Jacksonville Airport FL 2015 (5,416 ) 1,451 6,423 — 2,289 1,451 8,712 10,163 (1,271 ) TownePlace Suites Savannah Midtown GA 2015 (9,907 ) 1,502 7,827 — 1,918 1,502 9,744 11,246 (925 ) Courtyard Houston I 10 West Energy Corridor TX 2015 (18,116 ) 10,444 20,710 6 2,820 10,449 23,531 33,979 (2,665 ) Courtyard San Diego Carlsbad CA 2015 (17,864 ) 5,080 14,007 9 141 5,090 14,148 19,238 (1,516 ) Hampton Inn Austin North IH 35 & Highway 183 TX 2015 (13,128 ) 1,774 9,798 (8 ) 1,428 1,765 11,226 12,991 (1,067 ) SpringHill Suites Asheville NC 2015 (13,629 ) 2,149 9,930 — 1,505 2,149 11,436 13,585 (1,103 ) Hampton Inn College Station TX 2015 (13,080 ) 3,305 10,523 (1,426 ) (4,604 ) 1,880 5,919 7,799 (83 ) Courtyard Flagstaff AZ 2015 (25,550 ) 5,258 24,313 — 2,054 5,258 26,367 31,625 (2,307 ) DoubleTree Baton Rouge LA 2015 (14,420 ) 1,497 14,777 — 1,218 1,497 15,995 17,493 (1,798 ) Fairfield Inn & Suites Baton Rouge South LA 2015 (3,965 ) 971 3,391 (151 ) (655 ) 820 2,736 3,555 (124 ) Hampton Inn Medford OR 2015 (9,450 ) 1,245 10,353 — 107 1,245 10,459 11,704 (956 ) Hampton Inn Fort Wayne Southwest IN 2015 (10,780 ) 1,242 10,511 — 373 1,242 10,885 12,127 (1,133 ) Hampton Inn & Suites El Paso Airport TX 2015 (13,440 ) 1,641 18,733 — 12 1,641 18,745 20,386 (1,856 ) Residence Inn Fort Wayne Southwest IN 2015 (10,920 ) 1,267 12,136 — 191 1,267 12,327 13,594 (1,119 ) SpringHill Suites Baton Rouge South LA 2015 (4,830 ) 1,131 5,744 — 174 1,131 5,918 7,049 (581 ) SpringHill Suites Flagstaff AZ 2015 (15,375 ) 1,641 14,283 — 1,171 1,641 15,454 17,096 (1,522 ) TownePlace Suites Baton Rouge South LA 2015 (6,440 ) 1,055 6,173 — 157 1,055 6,330 7,386 (691 ) Courtyard Columbus Downtown OH 2015 (18,830 ) 2,367 25,191 — 58 2,367 25,249 27,616 (2,072 ) Hilton Garden Inn Monterey CA 2015 (30,600 ) 6,110 27,713 — — 6,110 27,713 33,823 (3,071 ) Hyatt House Atlanta Cobb Galleria GA 2015 (16,520 ) 4,386 22,777 — 11 4,386 22,788 27,174 (1,917 ) Hyatt Place Chicago Schaumburg IL 2015 (4,510 ) 1,519 9,582 — 1,756 1,519 11,338 12,857 (1,220 ) Fairfield Inn & Suites Spokane Downtown WA 2016 (7,420 ) 1,733 10,750 — 3 1,733 10,752 12,486 (876 ) Fairfield Inn & Suites Denver Airport CO 2016 (15,260 ) 1,429 15,675 — 1,916 1,430 17,591 19,021 (1,290 ) SpringHill Suites Denver Airport CO 2016 (12,075 ) 941 10,870 — 1,463 941 12,332 13,274 (1,075 ) Hampton Inn Fort Collins CO 2016 (5,600 ) 641 5,578 — 100 641 5,677 6,319 (561 ) Fairfield Inn & Suites Seattle Bellevue WA 2016 (20,798 ) 18,769 14,182 — 1,552 18,769 15,734 34,503 (1,394 ) Hilton Garden Inn Fort Collins CO 2016 (13,090 ) 1,331 17,606 — 206 1,331 17,812 19,143 (1,543 ) Courtyard Jackson Ridgeland MS 2017 (3,520 ) 1,994 6,603 (967 ) (3,378 ) 1,027 3,226 4,253 (75 ) Residence Inn Jackson Ridgeland MS 2017 (8,260 ) 949 11,764 — 2 949 11,767 12,716 (556 ) Homewood Suites Jackson Ridgeland MS 2017 (6,150 ) 1,571 7,181 — 32 1,571 7,212 8,783 (361 ) Staybridge Suites Jackson MS 2017 (3,640 ) 996 5,915 (373 ) (2,359 ) 622 3,556 4,178 (61 ) Fairfield Inn & Suites Germantown TN 2017 (3,640 ) 1,046 3,316 — — 1,046 3,316 4,362 (179 ) Residence Inn Germantown TN 2017 (5,810 ) 1,326 6,784 — — 1,326 6,784 8,111 (333 ) Courtyard Germantown TN 2017 (8,680 ) 1,851 8,844 (40 ) 238 1,809 9,082 10,892 (430 ) $(1,732,746) $344,318 $1,786,717 (6,460 ) 160,902 337,858 1,947,619 2,285,477 (203,990 ) ___________________________________ (1) The tax basis of aggregate land, buildings and improvements as of December 31, 2018 is $2,191,957,636 (unaudited). (2) Each of the properties has a depreciable life of: up to 40 years for buildings, up to 15 years for improvements. A summary of activity for real estate and accumulated depreciation for the years ended December 31, 2016 to December 31, 2018: 2018 2017 2016 Land, buildings and improvements, at cost: Balance at January 1 2,263,047 $ 2,178,413 $ 2,047,831 Additions: Acquisitions 60,141 99,726 Capital improvements 52,290 58,793 43,030 Deductions: Held for Sale (1) — — Dispositions (11,360 ) — Impairment of depreciable assets (29,860 ) (17,114 ) — Balance at December 31 $ 2,285,477 $ 2,263,047 $ 2,178,413 Accumulated depreciation and amortization: Balance at January 1 (147,328 ) $ (92,848 ) $ (39,252 ) Depreciation expense (61,651 ) (57,890 ) (54,377 ) Accumulated depreciation: Held for Sale (1) 550 Dispositions and other 4,989 2,860 Balance at December 31 $ (203,990 ) $ (147,328 ) $ (92,848 ) __________________________________ (1) During the year ended December 31, 2017, the Company had one hotel classified as held for sale.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. All inter-company accounts and transactions have been eliminated in consolidation. In determining whether the Company has a controlling financial interest in a joint venture and the requirement to consolidate the accounts of that entity, management considers factors such as percentage ownership interest, authority to make decisions and contractual and substantive participating rights of the other partners or members as well as whether the entity is a variable interest entity for which the Company is the primary beneficiary.
Use of Estimates	Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Real Estate Investments and Below-Market Lease	Real Estate Investments The Company allocates the purchase price of properties acquired in real estate investments to tangible and identifiable intangible assets acquired based on their respective fair values at the date of acquisition. Tangible assets include land, land improvements, buildings and furniture, fixtures and equipment. The Company utilizes various estimates, processes and information to determine the property value. Estimates of value are made using customary methods, including data from appraisals, comparable sales, discounted cash flow analysis and other methods. Amounts allocated to land, land improvements, buildings and furniture, fixtures and equipment are based on purchase price allocation studies performed by independent third parties or on the Company’s analysis of comparable properties in the Company’s portfolio. Identifiable intangible assets and liabilities, as applicable, are typically related to contracts, including operating lease agreements, ground lease agreements and hotel management agreements, which are recorded at fair value. The Company also considers information obtained about each property as a result of the Company’s pre-acquisition due diligence in estimating the fair value of the tangible and intangible assets acquired and intangible liabilities assumed. Prior to January 1, 2018, the Company's acquisitions of hotel properties were accounted for as acquisitions of existing businesses, and all transaction costs associated with the acquisitions, were expensed as incurred. As a result of a change in applicable GAAP guidance, beginning January 1, 2018, the Company's acquisitions of hotel properties are anticipated to be accounted for as acquisitions of groups of assets rather than business combinations, although the determination will be made on a transaction-by-transaction basis. If the Company concludes that an acquisition will be accounted for as a group of assets, the transaction costs associated with the acquisition will be capitalized as part of the assets acquired. The Company's investments in real estate, including transaction costs, that are not considered to be business combinations under GAAP are recorded at cost. Improvements and replacements are capitalized when they extend the useful life of the asset. Costs of repairs and maintenance are expensed as incurred. Depreciation of the Company's long-lived assets is computed using the straight-line method over the estimated useful lives of up to 40 years for buildings, 15 years for land improvements, five years for furniture, fixtures and equipment, and the shorter of the useful life or the remaining lease term for leasehold interests. The Company is required to make subjective assessments as to the useful lives of the Company’s assets for purposes of determining the amount of depreciation to record on an annual basis with respect to the Company’s investments in real estate. These assessments have a direct impact on the Company’s net income because if the Company were to shorten the expected useful lives of the Company’s investments in real estate, the Company would depreciate these investments over fewer years, resulting in more depreciation expense and lower net income on an annual basis. Below-Market Lease The below-market lease intangible is based on the difference between the market rent and the contractual rent for the Company's ground lease obligations, and is discounted to a present value using an interest rate reflecting the Company's assessment of the risk associated with the leases acquired (See Note 5 - Leases). Acquired lease intangible assets are amortized over the remaining lease term. The amortization of a below-market lease is recorded as an increase to rent expense on the Consolidated Statements of Operations and Comprehensive Loss.
Impairment of Long Lived Assets	Impairment of Long Lived Assets Upon the occurrence of certain “triggering events” under the provisions of the Accounting Standards Codification section 360-Property, Plant and Equipment, the Company reviews its hotel investments which are considered to be long-lived assets under GAAP for impairment. These triggering events include significant declines in market value of the asset, significant declines in operating performance and significant adverse changes in economic conditions. If a triggering event occurs and circumstances indicate the carrying amount of the property may not be recoverable, the Company performs a recoverability test which compares the carrying amount to an estimate of the future undiscounted cash flows, excluding interest charges, expected to result from the property’s use and eventual disposition. The estimates consider factors such as expected future operating income, market and other applicable trends and residual value, as well as the effects of demand, competition and other factors. If the Company determines it is unable to recover the carrying amount of the asset over the useful life, impairment is deemed to exist and an impairment loss will be recorded to the extent that the carrying amount exceeds the estimated fair value of the property.
Assets Held for Sale (Long Lived-Assets)	Assets Held for Sale (Long Lived-Assets) When the Company initiates the sale of long-lived assets, it assesses whether the assets meet the criteria to be considered assets held for sale. The review is based on whether the following criteria are met: • Management and the Company's board of directors have committed to a plan to sell the asset group; • The subject assets are available for immediate sale in their present condition; • The Company is actively locating buyers as well as other initiatives required to complete the sale; • The sale is probable and the transfer is expected to qualify for recognition as a complete sale in one year; • The long-lived asset is being actively marketed for sale at a price that is reasonable in relation to fair value; and • Actions necessary to complete the plan indicate it is unlikely significant changes will be made to the plan or the plan will be withdrawn. If all the criteria are met, a long-lived asset held for sale is measured at the lower of its carrying amount or fair value less cost to sell, and the Company will cease recording depreciation.
Goodwill	Goodwill The Company allocates goodwill to each reporting unit. For the Company’s purposes, each of its wholly-owned hotels is considered a reporting unit. The Company tests goodwill for impairment at least annually, or upon the occurrence of any "triggering events" if sooner. During the three months ended March 31, 2018, the Company changed the date of its annual goodwill impairment testing from June 30 to March 31 of each year. The change was made to align the timing of the Company's annual goodwill impairment test with the determination of Estimated Per-Share NAV, each of which includes a fair value assessment of the Company's hotel properties. Upon the occurrence of any "triggering events," the Company is required to compare the fair value of each reporting unit to which goodwill has been allocated, to the carrying amount of such reporting unit including the allocation of goodwill. If the carrying amount of a reporting unit exceeds its fair value, the Company applies a one-step quantitative test and records the amount of goodwill impairment as the excess of the reporting unit's carrying amount over its fair value, not to exceed the total amount of goodwill allocated to such reporting unit.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash in bank accounts as well as investments in highly-liquid money market funds with original maturities of three months or less at purchase.
Restricted Cash	Restricted Cash Restricted cash consists of amounts required under mortgage agreements for future capital improvements to owned assets, future interest and property tax payments and cash flow deposits while subject to mortgage agreement restrictions.
Deferred Financing Fees	Deferred Financing Fees Deferred financing fees represent commitment fees, legal fees and other costs associated with obtaining commitments for financing. These fees are amortized as a component of interest expense over the terms of the respective financing agreements using the effective interest method. Unamortized deferred financing fees are expensed in full when the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financial transactions that do not close are expensed in the period in which it is determined that the financing will not be successful. Deferred financing fees are deducted from their related liabilities on the Company's Consolidated Balance Sheets.
Revenue Recognition	Revenue Recognition The Company's revenue is primarily from rooms, food and beverage, and other, and is disaggregated on the Company's Consolidated Statement of Operations and Comprehensive Loss. Room sales are driven by a fixed fee charged to a hotel guest to stay at the hotel property for an agreed-upon period. A majority of the Company's room reservations are cancellable and the Company transfers promised goods and services to the hotel guest as of the date upon which the hotel guest occupies a room and at the same time earns and recognizes revenue. The Company offers advance purchase reservations that are paid for by the hotel guest in advance and the Company recognizes deferred revenue as a result of such reservations. The Company's obligation to the hotel guest is satisfied as of the date upon which the hotel guest occupies a room.
Income Taxes	Income Taxes The Company elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the "Code") commencing with its tax year ended December 31, 2014 . In order to continue to qualify as a REIT, the Company must annually distribute to its stockholders 90% of its REIT taxable income (which does not equal net income as calculated in accordance with GAAP), determined without regard to the deduction for dividends paid and excluding net capital gain, and must comply with various other organizational and operational requirements. The Company generally will not be subject to federal corporate income tax on that portion of its REIT taxable income that it distributes to its stockholders. The Company may be subject to certain state and local taxes on its income, property taxes and federal income and excise taxes on its undistributed income. The Company's hotels are leased to taxable REIT subsidiaries, which are owned by the OP. The taxable REIT subsidiaries are subject to federal, state and local income taxes. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and for net operating loss, capital loss, and tax credit carryovers. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which such amounts are expected to be realized or settled. The effect on 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 available evidence, including future reversals of existing taxable temporary differences, future projected taxable income and tax planning strategies. GAAP prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken in a tax return. The Company must determine whether it is "more-likely-than-not" that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Once it is determined that a position meets the more-likely-than-not recognition threshold, the position is measured at the largest amount of benefit that is greater than 50% likely of being realized upon settlement in order to determine the amount of benefit to recognize in the financial statements. This accounting standard applies to all tax positions related to income taxes.
Earnings/Loss per Share	Earnings/Loss per Share The Company calculates basic income or loss per share by dividing net income or loss attributable to common stockholders for the period by the weighted-average shares of its common stock outstanding for such period. Diluted income per share takes into account the effect of dilutive instruments, such as unvested restricted shares of common stock ("restricted shares") and unvested restricted share units in respect of shares of common stock ("RSUs"), except when doing so would be anti-dilutive. The Company currently has outstanding restricted shares whose holders are entitled to participate in dividends when and if paid on shares of common stock. The Company also currently has outstanding RSUs whose holders generally are credited with dividend or other distribution equivalents when and if paid on shares of common stock. These dividends or other distribution equivalents will be regarded as having been reinvested in RSUs and will only be paid to the extent the corresponding RSUs vest. To the extent the Company were to have distributions in the future, it would be required to calculate earnings per share using the two-class method with regard to restricted shares, whereby earnings or losses are reduced by distributed earnings as well as any available undistributed earnings allocable to holders of restricted shares.
Fair Value Measurements	Fair Value Measurements In accordance with Accounting Standards Codification section 820 - Fair Value Measurement , certain assets and liabilities are recorded at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability between market participants in an orderly transaction on the measurement date. The market in which the reporting entity would sell the asset or transfer the liability with the greatest volume and level of activity for the asset or liability is known as the principal market. When no principal market exists, the most advantageous market is used. This is the market in which the reporting entity would sell the asset or transfer the liability with the price that maximizes the amount that would be received or minimizes the amount that would be paid. Fair value is based on assumptions market participants would make in pricing the asset or liability. Generally, fair value is based on observable quoted market prices or derived from observable market data when such market prices or data are available. When such prices or inputs are not available, the reporting entity should use valuation models. The Company’s financial instruments recorded at fair value on a recurring basis are categorized based on the priority of the inputs used to measure fair value. The inputs used in measuring fair value are categorized into three levels, as follows: • Level 1 - Inputs that are based upon quoted prices for identical instruments traded in active markets. • Level 2 - Inputs that are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar investments in markets that are not active, or models based on valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the investment. • Level 3 - Inputs that are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques that include option pricing models, discounted cash flow models, and similar techniques. The determination of where an asset or liability falls in the hierarchy requires significant judgment and considers factors specific to the asset or liability. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety.
Class C Units	Class C Units The Company initially measured the Class C Units which were issued to the Brookfield Investor at fair value net of issuance costs. The Company is required to accrete the carrying value of the Class C Units to the liquidation preference using the effective interest method over the five year period prior to the holder's redemption option becoming exercisable (See "Accretion of Class C Units" on the Company's Consolidated Statements of Operations and Comprehensive Loss). However, if it becomes probable that the Class C Units will become redeemable prior to such date, the Company will adjust the carrying value of the Class C Units to the maximum liquidation preference. Until the Final Closing, the Company could have become obligated pursuant to the SPA with the Brookfield Investor to issue additional Class C Units. This obligation was considered a contingent forward contract under Accounting Standards Codification section 480 - Distinguishing Liabilities from Equity, and the Company accounted for it as a liability.
Advertising Costs	Advertising Costs The Company expenses advertising costs for hotel operations as incurred.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts Receivables consist principally of trade receivables from customers and are generally unsecured and are due within 30 to 90 days. The Company records a provision for uncollectible accounts using the allowance method. Expected credit losses associated with trade receivables are recorded as an allowance for doubtful accounts. The allowance for doubtful accounts is estimated based upon historical patterns of credit losses for aged receivables as well as specific provisions for certain identifiable, potentially uncollectible balances. When internal collection efforts on accounts have been exhausted, the accounts are written off and the associated allowance for doubtful accounts is reduced.
Reportable Segments	Reportable Segments The Company has determined that it has one reportable segment, with activities related to investing in real estate. The Company’s investments in real estate generate room revenue and other income through the operation of the properties, which comprise 100% of the total consolidated revenues. Management evaluates the operating performance of the Company’s investments in real estate on an individual property level, and therefore each property is considered a reporting unit. Each of the Company's reporting units are also considered to be operating segments, but none of these individual operating segments represents a reportable segment as they meet the criteria in GAAP to aggregate all properties into one reportable segment.
Derivative Transactions	Derivative Transactions The Company at certain times enters into derivative instruments to hedge exposure to changes in interest rates. The Company’s derivatives as of December 31, 2018 , consist of interest rate cap agreements which it believes will help to mitigate its exposure to increasing borrowing costs under floating rate indebtedness. The Company has elected not to designate its interest rate cap agreements as cash flow hedges. The impact of the interest rate caps for the year ended December 31, 2018 , was immaterial to the consolidated financial statements.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements On January 1, 2018, the Company adopted the following accounting standards issued by the Financial Accounting Standards Board (FASB): • ASC Topic 606, Revenue from Contracts with Customers • ASU 2016-18, Statement of Cash Flows-Restricted Cash (Topic 230) • ASU 2017-01, Business Combinations (Topic 805) • ASU 2017-09 Compensation - Stock Compensation (Topic 718) The Company's adoption of ASC Topic 606 using the modified retrospective approach had an immaterial impact on its consolidated financial statements and no adjustments to the prior-period consolidated financial statements were required. The Company's adoption of ASU 2017-01 had no impact on its consolidated financial statements. The Company's adoption of ASU 2017-09 had an immaterial impact on its consolidated financial statements. The Company's adoption of ASU 2016-18 using the retrospective approach resulted in reclassification of prior-period restricted cash balances and activity in the Consolidated Statement of Cash Flows. The amounts included in restricted cash on the Company's Consolidated Balance Sheet are now included with cash and cash equivalents on the statement of cash flows. These amounts totaled $27.9 million , $63.4 million and $35.1 million as of December 31, 2018, 2017 and 2016, respectively. The adoption of this standard did not change the Company's balance sheet presentation. In February 2016, the FASB issued ASU 2016-02 Leases ("ASU 2016-02"), which requires an entity to separate lease components from nonlease components in a contract. ASU 2016-02 provides more guidance on how to identify and separate components than did previous GAAP. ASU 2016-02 requires lessees to recognize assets and liabilities arising from operating leases on the balance sheet. This amendment has not fundamentally changed lessor accounting, however some changes have been made to align and conform to the lessee guidance. The standard requires a modified retrospective approach, with an option to use certain transition relief. In July 2018, the FASB issued ASU 2018-10, Codification Improvements ("ASU 2018-10") and ASU 2018-11 (“ASU 2018-11”), Targeted Improvements to Topic 842, Leases. The amendments in ASU 2018-10 affect narrow aspects of the guidance issued earlier, remove certain inconsistencies and provide additional clarification related to the guidance issued earlier. ASU 2018-11 provides entities with an additional optional transition method to adopt ASU 2016-02 by recognizing a cumulative-effect adjustment to opening balance of retained earnings in the period of adoption. The adoption of ASU 2016-02 becomes effective for the Company for the fiscal year beginning on January 1, 2019, and all subsequent annual and interim periods. The Company expects to elect the cumulative-effect transition method and the package of practical expedients. To the extent the Company elects the package of practical expedients the Company will be permitted not to reassess under the new standard the Company's prior conclusions about its existing leases to include lease identification, lease classification and initial direct costs. The Company does not expect to elect the use-of-hindsight expedient. While the Company continues to assess all of the effects of this standard, the Company anticipates that this standard will have a material impact on the Company's Consolidated Balance Sheets. However, the Company does not expect this standard to have a material impact on the Company's Consolidated Statement of Operations and Comprehensive Loss. The most significant effects of this standard relate to the recognition of the Company's operating leases with a term longer than twelve months, which are primarily comprised of one operating lease with respect to the Georgia Tech Hotel & Conference Center, the Company's office space lease, and nine ground leases, under which it is the lessee, as right of use assets ("ROU") and corresponding lease liabilities in the Consolidated Balance Sheets. On adoption, the Company expects to recognize ROU assets and corresponding lease liabilities between $50 million and $60 million and will also reclassify its intangible assets for below market leases and intangible liabilities for above market leases to the beginning balance of ROU assets. In August 2018, the FASB issued ASU 2018-13 Fair Value Measurements (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13"). Among other changes, ASU 2018-13 addresses changes in disclosures related to unrealized gains and losses and transfers between levels in the fair value hierarchy. ASU 2018-13 is effective for the Company for fiscal years beginning after December 15, 2019. The Company does not anticipate that the adoption of ASU 2018-13 will have any impact on the Company's consolidated financial statements.
Share-Based Payments	Restricted share awards entitle the recipient to receive shares of common stock from the Company under terms that provide for vesting over a specified period of time or upon attainment of pre-established performance objectives. Such awards would typically be forfeited with respect to the unvested shares upon the termination of the recipient’s employment or other relationship with the Company. Restricted shares may not, in general, be sold or otherwise transferred until restrictions are removed and the shares have vested. Holders of restricted shares may receive cash or stock distributions when and if paid prior to the time that the restrictions on the restricted shares have lapsed. Any distributions payable in shares of common stock are generally subject to the same restrictions as the underlying restricted shares. The restricted shares are measured at fair value and expensed over the applicable vesting period. The Company recognizes the impact of forfeited restricted share awards as they occur. RSUs represent a contingent right to receive shares of common stock at a future settlement date, subject to satisfaction of applicable vesting conditions and/or other restrictions, as set forth in the RSP and an award agreement evidencing the grant of RSUs. RSUs may not, in general, be sold or otherwise transferred until restrictions are removed and the rights to the shares of common stock have vested. Holders of RSUs do not have or receive any voting rights with respect to the RSUs or any shares underlying any award of RSUs, but such holders generally are credited with dividend or other distribution equivalents that are regarded as having been reinvested in RSUs which are subject to the same vesting conditions and/or other restrictions as the underlying RSUs. The fair value of the RSUs is expensed over the applicable vesting period. The Company recognizes the impact of forfeited RSUs as they occur.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	Trade and note receivable balances, net of the allowance for doubtful accounts, are included in prepaid expenses and other assets in the accompanying Consolidated Balance Sheets, and are as follows (in thousands): December 31, 2018 December 31, 2017 Trade receivables $ 8,329 $ 9,638 Note receivable from sale of hotel — $ 1,625 Allowance for doubtful accounts (338 ) (312 ) Trade and Note receivables, net of allowance $ 7,991 $ 10,951

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2018
Leases [Abstract]
Schedule of Future Minimum Lease Payments for Operating Leases	The following table summarizes the Company's future minimum rental commitments under these leases (in thousands): Minimum Rental Commitments Amortization of Below Market Lease Intangible to Rent Expense Year ending December 31, 2019 $ 5,227 $ 398 Year ending December 31, 2020 5,265 398 Year ending December 31, 2021 5,271 398 Year ending December 31, 2022 5,292 398 Year ending December 31, 2023 5,298 398 Thereafter 71,153 7,040 Total $ 97,506 $ 9,030

Mortgage Notes Payable (Tables)

Mortgage Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The Company’s mortgage notes payable as of December 31, 2018 and December 31, 2017 consist of the following, respectively (in thousands): Outstanding Mortgage Notes Payable Encumbered Properties December 31, 2018 December 31, 2017 Interest Rate Payment Maturity Baltimore Courtyard & Providence Courtyard $ 45,500 $ 45,500 4.30% Interest Only, Principal paid at Maturity April 2019 Hilton Garden Inn Blacksburg Joint Venture 10,500 10,500 4.31% Interest Only, Principal paid at Maturity June 2020 87 - Pack Mortgage Loan - 87 properties in Grace Portfolio 805,000 805,000 One-month LIBOR plus 2.56% Interest Only, Principal paid at Maturity May 2019, subject to three, one year extension rights 87 - Pack Mezzanine Loan - 87 properties in Grace Portfolio 110,000 110,000 One-month LIBOR plus 6.50% Interest Only, Principal paid at Maturity May 2019, subject to three, one year extension rights Additional Grace Mortgage Loan - 20 properties in Grace Portfolio and one additional property 232,000 232,000 4.96% Interest Only, Principal paid at Maturity October 2020 Term Loan -28 properties 310,000 310,000 One-month LIBOR plus 3.00% Interest Only, Principal paid at Maturity May 2019, subject to three, one year extension rights Total Mortgage Notes Payable $ 1,513,000 $ 1,513,000 Less: Deferred Financing Fees, Net $ 5,491 $ 17,223 Total Mortgage Notes Payable, Net $ 1,507,509 $ 1,495,777

Accounts Payable and Accrued _2

Accounts Payable and Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2018
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Liabilities	The following is a summary of the components of accounts payable and accrued expenses (in thousands): December 31, 2018 December 31, 2017 Trade accounts payable $ 22,247 $ 24,261 Accrued expenses 40,718 43,191 Total $ 62,965 $ 67,452

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Restricted Shares and Units Awards	A summary of the Company's RSU awards for the year ended December 31, 2018 is presented below: Number of Shares Weighted Average Grant Date Fair Value Aggregate Intrinsic Value Non-vested December 31, 2017 99,840 $ 15.04 $ 1,502 Granted 286,509 $ 14.18 $ 4,063 Vested (42,507 ) $ 14.98 $ 637 Forfeited (11,478 ) $ 14.20 $ 163 Non-vested December 31, 2018 332,364 $ 14.34 $ 4,765 A summary of the Company's restricted share awards for the year ended December 31, 2018 is presented below. Number of Shares Weighted Average Grant Date Fair Value Aggregate Intrinsic Value Non-vested December 31, 2017 7,576 $ 14.59 $ 111 Granted 7,210 $ 14.18 $ 102 Vested (7,576 ) $ 14.59 $ 111 Forfeitures — $ — $ — Non-vested December 31, 2018 7,210 $ 14.18 $ 102

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value by Balance Sheet Grouping	The following table shows the carrying amounts and the fair values of material liabilities, excluding deferred financing fees, that qualify as financial instruments (in thousands): December 31, 2018 Carrying Amount Fair Value Mortgage notes payable $ 1,513,000 $ 1,512,927 Mandatorily redeemable preferred securities $ 219,746 $ 219,746 Total $ 1,732,746 $ 1,732,673

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The components of income tax expense for the years ended December 31, 2018 , December 31, 2017 and December 31, 2016 are presented in the following table, in thousands. Year Ended December 31, 2018 2017 2016 Current tax (benefit) expense: Federal $ 288 $ (146 ) $ 994 State 331 217 48 Total $ 619 $ 71 $ 1,042 Deferred tax (benefit) expense: Federal $ (2,089 ) $ (1,283 ) $ 308 State (1,136 ) (714 ) 21 Total (3,225 ) (1,997 ) 329 Total income tax (benefit) expense $ (2,606 ) $ (1,926 ) $ 1,371
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the statutory federal income tax benefit of the Company's income tax expense is presented in the following table, in thousands. Year Ended December 31, 2018 2017 2016 Statutory federal income tax benefit $ (18,618 ) $ (24,843 ) $ (23,991 ) Effect of non-taxable REIT loss 16,280 22,084 25,266 State income tax expense, net of federal tax benefit (268 ) (110 ) 96 Re-measurement of net deferred tax assets — 943 — Income tax (benefit) expense $ (2,606 ) $ (1,926 ) $ 1,371
Schedule of Deferred Tax Assets and Liabilities	The tax effect of each type of temporary difference and carryforward, that gives rise to the deferred tax assets and liabilities for the year ended December 31, 2018 , and December 31, 2017 are presented in the following table, in thousands. Year Ended December 31, 2018 2017 Deferred tax asset: Goodwill 1,267 1,691 Net operating losses 3,979 295 Total Deferred Tax Assets $ 5,246 $ 1,986 Deferred tax liability: Investments in unconsolidated entities $ (74 ) $ (52 ) Other (38 ) (25 ) Total deferred tax liabilities (112 ) (77 ) Net deferred tax asset $ 5,134 $ 1,909

Quarterly Results (Unaudited) (

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2018 , December 31, 2017 and December 31, 2016: Quarters Ended (In thousands, except for share amounts) March 31, 2018 June 30, 2018 September 30, 2018 December 31, 2018 Total revenues $ 139,958 $ 164,835 $ 160,325 $ 140,941 Net loss attributable to common stockholders $ (23,799 ) $ (29,439 ) $ (16,893 ) $ (39,418 ) Basic and Diluted weighted average shares outstanding 39,498,253 39,502,003 39,336,099 39,334,125 Basic and Diluted net loss attributable to common stockholders per common share $ (0.60 ) $ (0.75 ) $ (0.43 ) $ (1.00 ) Quarters Ended (In thousands, except for share amounts) March 31, 2017 June 30, 2017 September 30, 2017 December 31, 2017 Total revenues $ 143,703 $ 167,012 $ 167,241 $ 143,119 Net loss attributable to common stockholders $ (20,679 ) $ (27,255 ) $ (14,058 ) $ (28,701 ) Basic and Diluted weighted average shares outstanding 38,810,386 39,610,265 39,611,261 39,603,885 Basic and Diluted net loss attributable to common stockholders per common share $ (0.53 ) $ (0.69 ) $ (0.35 ) $ (0.72 ) Quarters Ended (In thousands, except for share amounts) March 31, 2016 June 30, 2016 September 30, 2016 December 31, 2016 Total revenues $ 135,153 $ 163,230 $ 161,458 $ 139,751 Net loss attributable to common stockholders $ (43,957 ) $ (7,024 ) $ (6,684 ) $ (14,582 ) Basic and Diluted weighted average shares outstanding 38,571,410 38,776,850 38,788,041 38,794,215 Basic and Diluted net loss attributable to common stockholders per common share $ (1.14 ) $ (0.18 ) $ (0.17 ) $ (0.38 )

Organization - Narrative (Detai

Organization - Narrative (Details)	Mar. 28, 2019	Mar. 31, 2017USD ($)	Jan. 12, 2017USD ($)	Mar. 31, 2017USD ($)	Feb. 27, 2019USD ($)	Dec. 31, 2018USD ($)hotelstatehotel_roomshares	Apr. 23, 2018$ / shares	Dec. 31, 2017USD ($)shares
Class of Stock [Line Items]
Number of properties (hotel) | hotel						144
Number of guest rooms (hotel room) | hotel_room						17,321
Number of states in which entity operates (state) | state						33
Estimated Per-Share NAV (usd per share) | $ / shares							$ 13.87
Common stock, outstanding (shares) | shares						39,134,628		39,505,742
Liquidation preference						$ 173,573,000		$ 140,241,000
Subsequent Event | Brookfield Strategic Real Estate Partners II Hospitality REIT II LLC
Class of Stock [Line Items]
Ownership	40.70%
SPA | Class C Units
Class of Stock [Line Items]
Liquidation preference						$ 173,600,000
SPA | Class C Units | Subsequent Event
Class of Stock [Line Items]
Liquidation preference					$ 393,300,000
Initial Closing | SPA | Class C Units
Class of Stock [Line Items]
Value of units issued		$ 9,152,542.37	$ 400,000,000	$ 135,000,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details)	12 Months Ended
	Dec. 31, 2018USD ($)segmenthotellease	Dec. 31, 2017USD ($)hotel	Dec. 31, 2016USD ($)	Jan. 01, 2019USD ($)	Mar. 31, 2017USD ($)
Summary of Significant Accounting Policies [Line Items]
Impairment charge	$ 26,400,000	$ 15,600,000	$ 2,400,000
Goodwill	11,030,000	14,408,000			$ 31,600,000
Goodwill, impairment loss	3,400,000	17,100,000
Advertising expense	$ 17,900,000	18,400,000	17,200,000
Number of reportable segments | segment	1
Restricted cash	$ 27,959,000	63,444,000
Number of operating leases | lease	1
Number of ground leases | lease	9
Sales Revenue, Net
Summary of Significant Accounting Policies [Line Items]
Percentage of total consolidated/ combined revenues	100.00%
Minimum
Summary of Significant Accounting Policies [Line Items]
Period after which receivables are due (days)	30 days
Maximum
Summary of Significant Accounting Policies [Line Items]
Period after which receivables are due (days)	90 days
Building
Summary of Significant Accounting Policies [Line Items]
Useful life (years)	40 years
Land improvements
Summary of Significant Accounting Policies [Line Items]
Useful life (years)	15 years
Furniture, fixtures and equipment
Summary of Significant Accounting Policies [Line Items]
Useful life (years)	5 years
Forward Contracts
Summary of Significant Accounting Policies [Line Items]
Derivative liability	$ 0	$ 1,400,000			0
Class C Units
Summary of Significant Accounting Policies [Line Items]
Accretion period to liquidation preference	5 years
Disposal Group, Held-for-sale, Not Discontinued Operations
Summary of Significant Accounting Policies [Line Items]
Number of real estate properties held for sale (hotel) | hotel	0	1
Impairment loss on the sale real estate properties		$ 1,300,000
Series of Individually Immaterial Business Acquisitions
Summary of Significant Accounting Policies [Line Items]
Goodwill					$ 31,600,000
Goodwill, impairment loss	$ 3,400,000	17,100,000
Hampton Inn Chattanooga | Disposal Group, Held-for-sale, Not Discontinued Operations
Summary of Significant Accounting Policies [Line Items]
Impairment loss on the sale real estate properties		1,400,000
Accounting Standards Update 2016-18
Summary of Significant Accounting Policies [Line Items]
Restricted cash	$ 27,900,000	$ 63,400,000	$ 35,100,000
Accounting Standards Update 2016-02 | Subsequent Event | Minimum
Summary of Significant Accounting Policies [Line Items]
Operating lease, right-of-use asset				$ 50,000,000
Operating lease, liability				50,000,000
Accounting Standards Update 2016-02 | Subsequent Event | Maximum
Summary of Significant Accounting Policies [Line Items]
Operating lease, right-of-use asset				60,000,000
Operating lease, liability				$ 60,000,000
Occupancy | Product Concentration Risk | Revenue from Contract with Customer
Summary of Significant Accounting Policies [Line Items]
Percentage of total consolidated/ combined revenues	94.50%	94.70%	94.50%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Accounts, Notes, Loans and Financing Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Trade receivables	$ 8,329	$ 9,638
Note receivable	0	1,625
Allowance for doubtful accounts	(338)	(312)
Trade and Note receivables, net of allowance	$ 7,991	$ 10,951

Brookfield Investment - Securit

Brookfield Investment - Securities Purchase, Voting and Standstill Agreement (Details) - USD ($)	Feb. 27, 2019	Feb. 27, 2018	Mar. 31, 2017	Jan. 12, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Preferred stock, par value (usd per share)						$ 0.01	$ 0.01
SPA | Class C Units | Initial Closing
Related Party Transaction [Line Items]
Consideration on units issued			$ 9,152,542.37	$ 400,000,000	$ 135,000,000
Share price (usd per share)			$ 14.75		$ 14.75
Number of shares sold (shares)			9,152,542.37
SPA | Class C Units | Initial Closing | Redeemable Preferred Stock
Related Party Transaction [Line Items]
Preferred stock, par value (usd per share)			$ 0.01		$ 0.01
SPA | Class C Units | Second Closing
Related Party Transaction [Line Items]
Consideration on units issued		$ 25,000,000
Share price (usd per share)		$ 14.75
Number of shares sold (shares)		1,694,915.25
SPA | Class C Units | Second Closing | Brookfield Strategic Real Estate Partners II Hospitality REIT II LLC
Related Party Transaction [Line Items]
Consideration on units issued		$ 25,000,000
Share price (usd per share)		$ 14.75
Number of shares sold (shares)		1,694,915.25
Subsequent Event | SPA | Class C Units | Final Closing
Related Party Transaction [Line Items]
Consideration on units issued	$ 219,700,000
Share price (usd per share)	$ 14.75
Number of shares sold (shares)	14,898,060.78

Brookfield Investment - The Red

Brookfield Investment - The Redeemable Preferred Share (Details) - Brookfield Strategic Real Estate Partners II Hospitality REIT II LLC	12 Months Ended
	Dec. 31, 2018director
Related Party Transaction [Line Items]
Number of directors eligible for election by investors (director)	2
Number of additional directors eligible for election by investors (director)	2
Number of directors with approval rights (director)	1

Brookfield Investment - Class C

Brookfield Investment - Class C Units (Details)	Jun. 30, 2017USD ($)period$ / shares	Mar. 31, 2017$ / shares	Mar. 31, 2017USD ($)	Dec. 31, 2018USD ($)shares	Dec. 31, 2017USD ($)shares	Dec. 31, 2016USD ($)
Related Party Transaction [Line Items]
Carrying amount, attributable to parent				$ 163,148,000	$ 128,044,000
Payments of stock issuance costs				0	0	$ 1,055,000
PIK distributions on Class C Units				8,332,000	5,241,000	0
Accretion on Class C Units				2,581,000	1,668,000
Dividends on Class C Units (cash and PIK)				20,830,000	13,103,000	0
Cash dividend				12,498,000	7,862,000
Payments of Dividends				$ 12,694,000	8,221,000	$ 11,500,000
Minimum percent of Class C Units to outstanding common stock to trigger preemptive rights				5.00%
Class C Units
Related Party Transaction [Line Items]
Cash distribution per annum	7.50%
Cash distribution potential increased rate	10.00%
Cash dividend	$ 0
PIK distribution per annum	5.00%
PIK distribution potential increased rate	7.50%
PIK distribution potential additional increased rate	1.25%
PIK distribution, number of quarterly periods (period) | period	4
PIK maximum percent per year	12.50%
Denominator for PIK distribution (in dollars per share) | $ / shares	$ 14.75	$ 14.75
Period after which holders of redeemable stock have the right to increase the number of board of directors				3 months
Class C Units | Investor
Related Party Transaction [Line Items]
Minimum amount of assets for transfer without consent				$ 100,000,000
SPA | Class C Units
Related Party Transaction [Line Items]
PIK distributions on Class C Units				13,600,000
Accretion on Class C Units				4,200,000
Contingent liability change in value				100,000
Payments of Dividends				$ 12,500,000	$ 7,900,000
Dividends PIK (shares) | shares				564,870.56	355,349.60
SPA | Initial Closing | Class C Units
Related Party Transaction [Line Items]
Carrying amount, attributable to parent				$ 163,100,000
Gross proceeds				160,000,000
Payments of stock issuance costs				14,800,000
Fees incurred with the offering				$ 6,000,000
Dividends on Class C Units (cash and PIK)			$ 4,500,000

Business Combinations - Summit

Business Combinations - Summit Acquisition (Details) $ in Millions	Apr. 27, 2017USD ($)hotel	Feb. 11, 2016USD ($)hotel	Dec. 31, 2018hotel
Business Acquisition [Line Items]
Number of properties (hotel) | hotel			144
Summit Portfolio
Business Acquisition [Line Items]
Number of properties (hotel) | hotel	7	6
Summit Portfolio, Third Closing
Business Acquisition [Line Items]
Total assets acquired, net | $		$ 108.3
Summit Portfolio, Second Closing, First Seven Hotels
Business Acquisition [Line Items]
Total assets acquired, net | $	$ 66.5

Business Combinations - Framewo

Business Combinations - Framework Agreement (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Cash paid for acquisition		$ 1,000	$ 13,000	$ 0
Goodwill	$ 31,600	11,030	14,408
Goodwill, impairment loss		3,400	17,100
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Purchase price of acquisition	31,600
Cash paid for acquisition	10,000
Liabilities assumed from acquisition	4,000
Consideration transferred, liabilities waived	5,800
Goodwill	31,600
Goodwill, impairment loss		$ 3,400	$ 17,100
Series of Individually Immaterial Business Acquisitions | Common Stock
Business Acquisition [Line Items]
Consideration transferred, equity interests issued and issuable	$ 4,100
Share price (in dollars per share)	$ 14.59
Conversion and Redemption of Class B Units to Common Stock | Series of Individually Immaterial Business Acquisitions | Common Stock
Business Acquisition [Line Items]
Consideration transferred, equity interests issued and issuable	$ 7,700

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)lease	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Leases [Abstract]
Number of operating leases | lease	1
Number of ground leases | lease	9
Amortization of below-market lease intangibles | $	$ 0.4	$ 0.4	$ 0.4
Rent expense | $	$ 6.3	$ 6.2	$ 6.3

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments for Operating Leases (Details) $ in Thousands	Dec. 31, 2018USD ($)
Minimum Rental Commitments
Year ending December 31, 2019	$ 5,227
Year ending December 31, 2020	5,265
Year ending December 31, 2021	5,271
Year ending December 31, 2022	5,292
Year ending December 31, 2023	5,298
Thereafter	71,153
Total	97,506
Amortization of Below Market Lease Intangible to Rent Expense
Year ending December 31, 2019	398
Year ending December 31, 2020	398
Year ending December 31, 2021	398
Year ending December 31, 2022	398
Year ending December 31, 2023	398
Thereafter	7,040
Total	$ 9,030

Mortgage Notes Payable - Schedu

Mortgage Notes Payable - Schedule of Long-term Debt Instruments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)hotelpropertyextension	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Mortgage Notes Payable	$ 1,513,000	$ 1,513,000
Less: Deferred Financing Fees, Net	5,491	17,223
Total Mortgage Notes Payable, Net	$ 1,507,509	1,495,777
Number of properties (hotel) | hotel	144
Mortgage note payable | Grace Mortgage Loan
Debt Instrument [Line Items]
Mortgage Notes Payable	$ 805,000	805,000
Number of extension rights | extension	3
Extension right term (years)	1 year
Mortgage note payable | Grace Mortgage Loan | London interbank offered rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	2.56%
Mortgage note payable | Grace Mezzanine Loan
Debt Instrument [Line Items]
Mortgage Notes Payable	$ 110,000	110,000
Number of extension rights | extension	2
Extension right term (years)	1 year
Mortgage note payable | Grace Mezzanine Loan | London interbank offered rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	6.50%
Mortgage note payable | New Additional Grace Mortgage Loan
Debt Instrument [Line Items]
Mortgage Notes Payable	$ 232,000	232,000
Interest rate (percent)	4.96%
Number of properties (hotel) | property	1
Mortgage note payable | HIT REIT Term Loan
Debt Instrument [Line Items]
Mortgage Notes Payable	$ 310,000	310,000
Number of extension rights | extension	3
Extension right term (years)	1 year
Number of properties (hotel) | property	1
Mortgage note payable | HIT REIT Term Loan | London interbank offered rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	3.00%
Mortgage note payable | Baltimore Courtyard & Providence Courtyard
Debt Instrument [Line Items]
Mortgage Notes Payable	$ 45,500	45,500
Interest rate (percent)	4.30%
Mortgage note payable | Hilton Garden Inn Blacksburg Joint Venture
Debt Instrument [Line Items]
Mortgage Notes Payable	$ 10,500	$ 10,500
Interest rate (percent)	4.31%

Mortgage Notes Payable - Narrat

Mortgage Notes Payable - Narrative (Details)	Apr. 28, 2017USD ($)propertyextension	Apr. 27, 2017USD ($)propertyextension	Dec. 31, 2018USD ($)hotelpropertyextension	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Oct. 31, 2015	Feb. 28, 2015property
Debt Instrument [Line Items]
Number of properties (hotel) | hotel			144
Grace acquisition
Debt Instrument [Line Items]
Number of properties (hotel) | hotel			111
HIT REIT 87-Pack Loans
Debt Instrument [Line Items]
Minimum net worth required for compliance | $		$ 250,000,000
Mortgage note payable
Debt Instrument [Line Items]
Interest expense | $			$ 76,300,000	$ 66,800,000	$ 60,100,000
Mortgage note payable | Grace Mortgage Loan
Debt Instrument [Line Items]
Number of extension rights | extension			3
Extension right term (years)			1 year
Mortgage note payable | Grace Mortgage Loan | London interbank offered rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate			2.56%
Mortgage note payable | Grace Mortgage Loan | Grace acquisition
Debt Instrument [Line Items]
Number of properties (hotel)			87
Mortgage note payable | New Additional Grace Mortgage Loan
Debt Instrument [Line Items]
Interest rate (percent)			4.96%
Number of properties (hotel)			1
Mortgage note payable | New Additional Grace Mortgage Loan | Grace acquisition
Debt Instrument [Line Items]
Number of properties (hotel)			20
Mortgage note payable | HIT REIT Term Loan
Debt Instrument [Line Items]
Number of properties (hotel)			1
Number of extension rights | extension			3
Extension right term (years)			1 year
Mortgage note payable | HIT REIT Term Loan | London interbank offered rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate			3.00%
Mortgage note payable | HIT REIT Term Loan | Summit And Nobel Portfolios
Debt Instrument [Line Items]
Number of properties (hotel)			28
Mortgage note payable | Grace Mezzanine Loan
Debt Instrument [Line Items]
Number of extension rights | extension			2
Extension right term (years)			1 year
Mortgage note payable | Grace Mezzanine Loan | London interbank offered rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate			6.50%
Mortgage note payable | Grace Mezzanine Loan | Grace acquisition
Debt Instrument [Line Items]
Number of properties (hotel)			87
Mortgage note payable | Hilton Garden Inn Blacksburg Joint Venture
Debt Instrument [Line Items]
Interest rate (percent)			4.31%
Secured Debt | HIT REIT 87-Pack Loans
Debt Instrument [Line Items]
Amount of loan | $	$ 915,000,000
Number of extension rights | extension	3
Extension right term (years)	1 year
Secured Debt | HIT REIT 87-Pack Loans | London interbank offered rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	3.03%
Secured Debt | HIT REIT 87-Pack Loans | Maximum | London interbank offered rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	4.00%
Secured Debt | New Additional Grace Mortgage Loan
Debt Instrument [Line Items]
Interest rate (percent)						4.96%
Secured Debt | HIT REIT Term Loan
Debt Instrument [Line Items]
Number of properties (hotel)		28
Amount of loan | $		$ 310,000,000
Number of extension rights | extension		3
Extension right term (years)		1 year
Secured Debt | HIT REIT Term Loan | Minimum | London interbank offered rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		3.00%
Secured Debt | HIT REIT Term Loan | Maximum | London interbank offered rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		4.00%
Secured Debt | HIT REIT 87-Pack Mortgage Loan
Debt Instrument [Line Items]
Number of properties (hotel)	87						87
Amount of loan | $	$ 805,000,000
Secured Debt | HIT REIT 87-Pack Mortgage Loan | London interbank offered rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	2.56%
Secured Debt | HIT REIT 87-Pack Mezzanine Loan
Debt Instrument [Line Items]
Amount of loan | $	$ 110,000,000
Secured Debt | HIT REIT 87-Pack Mezzanine Loan | London interbank offered rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	6.50%

Promissory Notes Payable - Narr

Promissory Notes Payable - Narrative (Details) - Property Management Transactions - Property Manager	Mar. 31, 2017USD ($)
Debt Instrument [Line Items]
Cash payment per month	$ 333,333.33
Note Payable to Former Property Manager | Loans Payable
Debt Instrument [Line Items]
Cash payment per month	$ 333,333.33

Mandatorily Redeemable Prefer_2

Mandatorily Redeemable Preferred Securities - Narrative (Details)	Feb. 27, 2019USD ($)	Feb. 28, 2015USD ($)company	Dec. 31, 2018USD ($)hotel	Dec. 31, 2017USD ($)hotel	Dec. 31, 2016USD ($)	Feb. 27, 2018USD ($)
Business Acquisition [Line Items]
Number of properties owned (hotel) | hotel			144
Redemption of mandatorily redeemable preferred securities			$ 14,370,000	$ 56,071,000	$ 4,335,000
Grace acquisition
Business Acquisition [Line Items]
Number of newly formed LLCs (company) | company		2
Number of properties owned (hotel) | hotel			111
Number of additional unencumbered real estate properties (hotel) | hotel			4
Grace acquisition | Redeemable preferred share
Business Acquisition [Line Items]
Proceeds from issuance of preferred limited partner units		$ 447,100,000
Distribution period		18 months
Percentage of preferred equity interests required to be redeemed by 2018		50.00%
Percent of equity offering proceeds to redeem preferred equity interests at par		35.00%
Maximum offering proceeds used to redeem preferred equity interests at par		$ 350,000,000
Period for maximum equity offering proceeds used to redeem preferred equity interests at par		12 months
Amount of preferred equity interests required to be redeemed by 2018						$ 10,600,000
Percentage of preferred equity interests required to be redeemed by 2019			$ 219,700,000			$ 223,500,000
Grace acquisition | Redeemable preferred share | Subsequent Event
Business Acquisition [Line Items]
Stock redeemed during the period	$ 219,700,000
Grace acquisition | Redeemable preferred share | Minimum
Business Acquisition [Line Items]
Distribution rate		7.50%
Grace acquisition | Redeemable preferred share | Maximum
Business Acquisition [Line Items]
Distribution rate		8.00%
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Redemption of mandatorily redeemable preferred securities			$ 3,800,000	$ 8,800,000
Number of hotels sold (hotel) | hotel			1	3

Accounts Payable and Accrued _3

Accounts Payable and Accrued Expenses - Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Payables and Accruals [Abstract]
Trade accounts payable	$ 22,247	$ 24,261
Accrued expenses	40,718	43,191
Total	$ 62,965	$ 67,452

Common Stock - Narrative (Detai

Common Stock - Narrative (Details) - USD ($)	Aug. 02, 2018	Jun. 29, 2018	May 14, 2018	Mar. 31, 2017	Jan. 13, 2017	Dec. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Class of Stock [Line Items]
Common stock, outstanding (shares)						39,134,628	39,134,628	39,505,742
Common stock, issued (shares)						39,134,628	39,134,628	39,505,742
Repurchase and retirement of common stock		$ 1,200,000					$ 3,075,000	$ 763,366
Common stock repurchases (shares)	169,348	170,260						113,091
Common Stock
Class of Stock [Line Items]
Common stock, fair value (in dollars per share)				$ 14.59
SPA
Class of Stock [Line Items]
Common stock, maximum cash distributions declared (usd per share)					$ 0.525
Company Offer
Class of Stock [Line Items]
Share price (usd per share)			$ 7.05
Share Repurchase Program
Class of Stock [Line Items]
Treasury stock, shares, acquired						208,977		0
Repurchase and retirement of common stock						$ 1,900,000	$ 1,900,000
Common Stock
Class of Stock [Line Items]
Common stock, outstanding (shares)						39,134,628	39,134,628	39,505,742	38,493,430	36,300,777
Repurchase and retirement of common stock							$ 4,000	$ 1,000
Common stock repurchases (shares)							378,324	113,091
Maximum | Company Offer
Class of Stock [Line Items]
Number of units issued (shares)			1,000,000
Property Management Transactions | Property Manager
Class of Stock [Line Items]
Common stock, issued (shares)				279,329
Property Management Transactions | Advisor | Common Stock
Class of Stock [Line Items]
Shares issued upon conversion (shares)				524,956
Class B Units | Property Management Transactions | Advisor
Class of Stock [Line Items]
Conversion of stock (shares)				524,956
OP Units | Property Management Transactions | Advisor
Class of Stock [Line Items]
Conversion of stock (shares)				524,956
Shares issued upon conversion (shares)				524,956
Restatement Adjustment
Class of Stock [Line Items]
Common stock repurchases (shares)	(912)

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Nov. 30, 2018	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of granted shares allowed			5.00%
Number of shares authorized (shares)			4,000,000
RSU's Forfeited (shares)	10,800
RSU's granted (shares)	10,800
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vesting period		5 years		5 years
Compensation expense			$ 0.1	$ 0.1
Unrecognized compensation expense remaining			$ 0.1
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vesting period			4 years
Compensation expense			$ 1.4	$ 0.4
Unrecognized compensation expense remaining			$ 3.7

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Restricted Shares Awards (Details) - Restricted Stock $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)$ / sharesshares
Number of Shares
Non-vested, beginning of period (in shares) | shares	7,576
Granted (in shares) | shares	7,210
Vested (in shares) | shares	(7,576)
Forfeitures (in shares) | shares	0
Non-vested, end of period (in shares) | shares	7,210
Weighted Average Grant Date Fair Value (per share)
Non-vested, beginning of period (in dollars per share) | $ / shares	$ 14.59
Granted (in dollars per share) | $ / shares	14.18
Vested (in dollars per share) | $ / shares	14.59
Forfeitures (in dollars per share) | $ / shares	0
Non-vested, end of period (in dollars per share) | $ / shares	$ 14.18
Aggregate Intrinsic Value (in thousands)
Non-vested, beginning of period | $	$ 111
Granted | $	102
Vested | $	111
Forfeitures | $	0
Non-vested, end of period | $	$ 102

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Restricted Units Awards (Details) - Restricted Stock Units (RSUs) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)$ / sharesshares
Number of Shares
Non-vested, beginning of period (in shares) | shares	99,840
Granted (in shares) | shares	286,509
Vested (in shares) | shares	(42,507)
Forfeitures (in shares) | shares	(11,478)
Non-vested, end of period (in shares) | shares	332,364
Weighted Average Grant Date Fair Value (per share)
Non-vested, beginning of period (in dollars per share) | $ / shares	$ 15.04
Granted (in dollars per share) | $ / shares	14.18
Vested (in dollars per share) | $ / shares	14.98
Forfeitures (in dollars per share) | $ / shares	14.20
Non-vested, end of period (in dollars per share) | $ / shares	$ 14.34
Aggregate Intrinsic Value (in thousands)
Non-vested, beginning of period | $	$ 1,502
Granted | $	4,063
Vested | $	637
Forfeitures | $	163
Non-vested, end of period | $	$ 4,765

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value by Balance Sheet Grouping (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)
Fair Value, Inputs, Level 3 | Carrying Amount
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of mortgage notes payable	$ 1,732,746
Mandatorily redeemable preferred securities	219,746
Fair Value, Inputs, Level 3 | Fair Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of mortgage notes payable	1,732,673
Mandatorily redeemable preferred securities	219,746
Mortgage notes payable | Fair Value, Inputs, Level 3 | Carrying Amount
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of mortgage notes payable	1,513,000
Mortgage notes payable | Fair Value, Inputs, Level 3 | Fair Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of mortgage notes payable	$ 1,512,927
Minimum
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Discount rate	8.00%
Maximum
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Discount rate	11.00%

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($)	Feb. 27, 2019	Dec. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Forward Contracts
Other Commitments [Line Items]
Derivative liability		$ 0	$ 1,400,000	$ 0
Subsequent Event
Other Commitments [Line Items]
Equity Interest redemptioin	$ 219,700,000

Related Party Transactions an_2

Related Party Transactions and Arrangements - Narrative (Details) - USD ($)	Feb. 27, 2019	Feb. 27, 2018	Mar. 31, 2017	Jan. 12, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Payments of dividends						$ 12,694,000	$ 8,221,000	$ 11,500,000
SPA | Class C Units
Related Party Transaction [Line Items]
Payments of dividends						$ 12,500,000	$ 7,900,000
Dividends PIK (shares)						564,870.56	355,349.60
Initial Closing | SPA | Class C Units
Related Party Transaction [Line Items]
Number of units issued (shares)			9,152,542.37
Share price (usd per share)			$ 14.75		$ 14.75
Value of units issued			$ 9,152,542.37	$ 400,000,000	$ 135,000,000
Cumulative dividend rate			7.50%
PIK dividend rate			5.00%
Second Closing | SPA | Class C Units
Related Party Transaction [Line Items]
Number of units issued (shares)		1,694,915.25
Share price (usd per share)		$ 14.75
Value of units issued		$ 25,000,000
Subsequent Event | Final Closing | SPA | Class C Units
Related Party Transaction [Line Items]
Number of units issued (shares)	14,898,060.78
Share price (usd per share)	$ 14.75
Value of units issued	$ 219,700,000

Related Party Transactions an_3

Related Party Transactions and Arrangements - Fees Paid in Connection with the Operations of the Company - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018
Related Party Transaction [Line Items]
Due to Affiliate			$ 0
Property Manager | Total Management Fees Incurred
Related Party Transaction [Line Items]
Fees incurred with the offering	$ 4,600,000	$ 18,000,000
Property Manager | Property Management Fees
Related Party Transaction [Line Items]
Fees incurred with the offering	2,000,000	8,500,000
Advisor
Related Party Transaction [Line Items]
Due to Affiliate	0		$ 0
Advisor | Reimbursement for Administrative Services and Personnel Costs
Related Party Transaction [Line Items]
Fees incurred with the offering	$ 900,000	$ 2,400,000

Related Party Transactions an_4

Related Party Transactions and Arrangements - Property Management Transactions (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Common stock, issued (shares)		39,134,628	39,505,742
Goodwill	$ 31,600,000	$ 11,030,000	$ 14,408,000
Property Manager | Property Management Transactions
Related Party Transaction [Line Items]
Fees incurred with the offering	10,000,000
Cash payment per month	333,333.33
Aggregate cash payments	$ 4,000,000
Common stock, issued (shares)	279,329
Advisor | Property Management Transactions
Related Party Transaction [Line Items]
Fees incurred with the offering	$ 5,821,988
Common Stock
Related Party Transaction [Line Items]
Common stock, fair value (in dollars per share)	$ 14.59
Common Stock | Advisor | Property Management Transactions
Related Party Transaction [Line Items]
Shares issued upon conversion (shares)	524,956
Class B Units | Advisor | Property Management Transactions
Related Party Transaction [Line Items]
Conversion of stock (shares)	524,956
OP Units | Advisor | Property Management Transactions
Related Party Transaction [Line Items]
Conversion of stock (shares)	524,956
Shares issued upon conversion (shares)	524,956
Series of Individually Immaterial Business Acquisitions
Related Party Transaction [Line Items]
Goodwill	$ 31,600,000

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) $ in Millions	Dec. 31, 2018USD ($)
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 195.5
Subsidiaries
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 15.4

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current tax (benefit) expense:
Federal	$ 288	$ (146)	$ 994
State	331	217	48
Total	619	71	1,042
Deferred tax (benefit) expense:
Federal	(2,089)	(1,283)	308
State	(1,136)	(714)	21
Total	(3,225)	(1,997)	329
Income tax (benefit) expense	$ (2,606)	$ (1,926)	$ 1,371

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Statutory federal income tax benefit	$ (18,618)	$ (24,843)	$ (23,991)
Effect of non-taxable REIT loss	16,280	22,084	25,266
State income tax expense, net of federal tax benefit	(268)	(110)	96
Re-measurement of net deferred tax assets	0	943	0
Income tax (benefit) expense	$ (2,606)	$ (1,926)	$ 1,371

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deferred tax asset:
Goodwill	$ 1,267	$ 1,691
Net operating losses	3,979	295
Total Deferred Tax Assets	5,246	1,986
Deferred tax liability:
Investments in unconsolidated entities	(74)	(52)
Other	(38)	(25)
Total deferred tax liabilities	(112)	(77)
Net deferred tax asset	$ 5,134	$ 1,909

Impairments (Details)

Impairments (Details) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2018USD ($)hotel	Jun. 30, 2018hotel	Dec. 31, 2017USD ($)hotel	Jun. 30, 2017hotel	Dec. 31, 2018USD ($)hotel	Dec. 31, 2017USD ($)hotel	Dec. 31, 2016USD ($)hotel	Mar. 31, 2017USD ($)
Real Estate [Line Items]
Impairment charge					$ 26,400	$ 10,400	$ 2,400
Goodwill	$ 11,030		$ 14,408		11,030	14,408		$ 31,600
Goodwill, impairment loss					3,400	17,100
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Real Estate [Line Items]
Impairment losses on asset held for sale or disposed						5,200
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Real Estate [Line Items]
Impairment loss on the sale real estate properties						$ 3,900
Number of impaired hotel assets (hotel) | hotel			2			2
Disposal Group, Held-for-sale, Not Discontinued Operations
Real Estate [Line Items]
Impairment loss on the sale real estate properties						$ 1,300
Minimum
Real Estate [Line Items]
Goodwill, impairment loss, per reporting unit					100	100
Maximum
Real Estate [Line Items]
Goodwill, impairment loss, per reporting unit					600	1,300
Weighted Average
Real Estate [Line Items]
Goodwill, impairment loss, per reporting unit					$ 200	$ 200
Intangible Asset
Real Estate [Line Items]
Number of hotels identified for impairment | hotel	2	4	2	2	6	4	1
Intangible Asset | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Real Estate [Line Items]
Number of impaired hotel assets (hotel) | hotel			2			2
Intangible Asset | Disposal Group, Held-for-sale, Not Discontinued Operations
Real Estate [Line Items]
Number of impaired hotel assets (hotel) | hotel			1			1
Goodwill
Real Estate [Line Items]
Number of hotels identified for impairment | hotel					16	82

Sales of Hotels (Details)

Sales of Hotels (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)hotel	Dec. 31, 2017USD ($)hotel	Dec. 31, 2016USD ($)
Real Estate [Line Items]
Redemption of mandatorily redeemable preferred securities	$ 14,370	$ 56,071	$ 4,335
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Real Estate [Line Items]
Number of hotels sold (hotel) | hotel	1	3
Sales price	$ 5,700	$ 11,700
Gain (loss) on sale of hotel	(100)	100
Redemption of mandatorily redeemable preferred securities	$ 3,800	$ 8,800
Number of impaired hotel assets (hotel) | hotel		2
Impairment loss on the sale real estate properties		$ 3,900

Quarterly Results (Unaudited)_2

Quarterly Results (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 140,941	$ 160,325	$ 164,835	$ 139,958	$ 143,119	$ 167,241	$ 167,012	$ 143,703	$ 139,751	$ 161,458	$ 163,230	$ 135,153	$ 606,059	$ 621,075	$ 599,592
Net loss attributable to common stockholders	$ (39,418)	$ (16,893)	$ (29,439)	$ (23,799)	$ (28,701)	$ (14,058)	$ (27,255)	$ (20,679)	$ (14,582)	$ (6,684)	$ (7,024)	$ (43,957)	$ (86,138)	$ (71,387)	$ (72,247)
Basic and diluted weighted average shares outstanding (shares)	39,334,125	39,336,099	39,502,003	39,498,253	39,603,885	39,611,261	39,610,265	38,810,386	38,794,215	38,788,041	38,776,850	38,571,410	39,416,947	39,411,677	38,732,949
Basic and diluted net loss per share (usd per share)	$ (1)	$ (0.43)	$ (0.75)	$ (0.60)	$ (0.72)	$ (0.35)	$ (0.69)	$ (0.53)	$ (0.38)	$ (0.17)	$ (0.18)	$ (1.14)	$ (2.78)	$ (2.30)	$ (1.86)

Subsequent Events - Narrative (

Subsequent Events - Narrative (Details) - Subsequent Event - USD ($)	Apr. 05, 2019	Feb. 27, 2019
Subsequent Event [Line Items]
Equity Interest redemptioin		$ 219,700,000
Final Closing | SPA | Class C Units
Subsequent Event [Line Items]
Number of units issued (shares)		14,898,060.78
Share price (usd per share)		$ 14.75
Value of units issued		$ 219,700,000
Baltimore Courtyard & Providence Courtyard | Refinanced Baltimore Courtyard and Providence Courtyard Mortgage Loan
Subsequent Event [Line Items]
Minimum net worth required for compliance	$ 50,000,000
Mortgage note payable | Baltimore Courtyard & Providence Courtyard
Subsequent Event [Line Items]
Repayments of Long-term Debt	45,500,000
Mortgage note payable | Baltimore Courtyard & Providence Courtyard | Refinanced Baltimore Courtyard and Providence Courtyard Mortgage Loan
Subsequent Event [Line Items]
Amount of loan	$ 46,100,000
London interbank offered rate (LIBOR) | Mortgage note payable | Baltimore Courtyard & Providence Courtyard
Subsequent Event [Line Items]
Basis spread on variable rate	2.75%

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation - Summary of Activity for Real Estate (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	$ (1,732,746,000)
Initial cost of land	344,318,000
Initial cost of buildings and improvements	1,786,717,000
Subsequent costs capitalized for Land	(6,460,000)
Subsequent costs capitalized for buildings and improvements	160,902,000
Gross amount of land	337,858,000
Gross amount of buildings and improvements	1,947,619,000
Total	2,285,477,000	$ 2,263,047,000	$ 2,178,413,000	$ 2,047,831,000
Accumulated depreciation	(203,990,000)	$ (147,328,000)	$ (92,848,000)	$ (39,252,000)
Tax basis of aggregate land, buildings and improvements	$ 2,191,957,636
Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Depreciable life (years)	40 years
Building improvements
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Depreciable life (years)	15 years
Courtyard Baltimore Downtown Inner Harbor
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	$ (24,980,000)
Initial cost of land	4,961,000
Initial cost of buildings and improvements	34,343,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	4,961,000
Gross amount of buildings and improvements	34,343,000
Total	39,304,000
Accumulated depreciation	(4,163,000)
Courtyard Providence Downtown
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(20,520,000)
Initial cost of land	4,724,000
Initial cost of buildings and improvements	29,388,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,247,000
Gross amount of land	4,724,000
Gross amount of buildings and improvements	30,635,000
Total	35,359,000
Accumulated depreciation	(3,891,000)
Georgia Tech Hotel and Conference Center
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,427,000)
Initial cost of land	0
Initial cost of buildings and improvements	0
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	0
Gross amount of buildings and improvements	0
Total	0
Homewood Suites Stratford
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(12,500,000)
Initial cost of land	2,377,000
Initial cost of buildings and improvements	13,875,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,423,000
Gross amount of land	2,377,000
Gross amount of buildings and improvements	15,298,000
Total	17,674,000
Accumulated depreciation	(2,208,000)
Westin Virginia Beach Town Center
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Initial cost of land	0
Initial cost of buildings and improvements	0
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	0
Gross amount of buildings and improvements	0
Total	0
Hilton Garden Inn Blacksburg
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,500,000)
Initial cost of land	0
Initial cost of buildings and improvements	14,107,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	882,000
Gross amount of land	0
Gross amount of buildings and improvements	14,990,000
Total	14,990,000
Accumulated depreciation	(1,388,000)
Courtyard Lexington South Hamburg Place
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(11,546,000)
Initial cost of land	2,766,000
Initial cost of buildings and improvements	10,242,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	675,000
Gross amount of land	2,766,000
Gross amount of buildings and improvements	10,917,000
Total	13,684,000
Accumulated depreciation	(1,078,000)
Courtyard Louisville Downtown
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(31,124,000)
Initial cost of land	3,727,000
Initial cost of buildings and improvements	33,543,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	3,165,000
Gross amount of land	3,727,000
Gross amount of buildings and improvements	36,708,000
Total	40,436,000
Accumulated depreciation	(3,368,000)
Embassy Suites Orlando International Drive Jamaican Court
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(32,119,000)
Initial cost of land	2,356,000
Initial cost of buildings and improvements	23,646,000
Subsequent costs capitalized for Land	(4,000)
Subsequent costs capitalized for buildings and improvements	1,776,000
Gross amount of land	2,352,000
Gross amount of buildings and improvements	25,421,000
Total	27,773,000
Accumulated depreciation	(2,950,000)
Fairfield Inn & Suites Atlanta Vinings
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(1,028,000)
Initial cost of land	1,394,000
Initial cost of buildings and improvements	8,968,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,347,000
Gross amount of land	1,395,000
Gross amount of buildings and improvements	11,315,000
Total	12,710,000
Accumulated depreciation	(1,517,000)
Homewood Suites Chicago Downtown
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(57,469,000)
Initial cost of land	15,314,000
Initial cost of buildings and improvements	73,248,000
Subsequent costs capitalized for Land	4,000
Subsequent costs capitalized for buildings and improvements	5,975,000
Gross amount of land	15,318,000
Gross amount of buildings and improvements	79,223,000
Total	94,541,000
Accumulated depreciation	(9,087,000)
Hyatt Place Albuquerque Uptown
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(16,301,000)
Initial cost of land	987,000
Initial cost of buildings and improvements	16,386,000
Subsequent costs capitalized for Land	(1,000)
Subsequent costs capitalized for buildings and improvements	1,206,000
Gross amount of land	986,000
Gross amount of buildings and improvements	17,591,000
Total	18,577,000
Accumulated depreciation	(1,898,000)
Hyatt Place Baltimore Washington Airport
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,239,000)
Initial cost of land	3,129,000
Initial cost of buildings and improvements	9,068,000
Subsequent costs capitalized for Land	2,000
Subsequent costs capitalized for buildings and improvements	1,357,000
Gross amount of land	3,131,000
Gross amount of buildings and improvements	10,424,000
Total	13,555,000
Accumulated depreciation	(1,389,000)
Hyatt Place Baton Rouge I 10
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(9,208,000)
Initial cost of land	1,888,000
Initial cost of buildings and improvements	8,897,000
Subsequent costs capitalized for Land	(1,000)
Subsequent costs capitalized for buildings and improvements	1,279,000
Gross amount of land	1,887,000
Gross amount of buildings and improvements	10,175,000
Total	12,062,000
Accumulated depreciation	(1,142,000)
Hyatt Place Birmingham Hoover
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(4,971,000)
Initial cost of land	956,000
Initial cost of buildings and improvements	9,689,000
Subsequent costs capitalized for Land	1,000
Subsequent costs capitalized for buildings and improvements	1,679,000
Gross amount of land	957,000
Gross amount of buildings and improvements	11,367,000
Total	12,324,000
Accumulated depreciation	(1,174,000)
Hyatt Place Cincinnati Blue Ash
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(6,455,000)
Initial cost of land	652,000
Initial cost of buildings and improvements	7,951,000
Subsequent costs capitalized for Land	(303,000)
Subsequent costs capitalized for buildings and improvements	(3,529,000)
Gross amount of land	349,000
Gross amount of buildings and improvements	4,422,000
Total	4,771,000
Accumulated depreciation	0
Hyatt Place Columbus Worthington
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(7,917,000)
Initial cost of land	1,063,000
Initial cost of buildings and improvements	11,319,000
Subsequent costs capitalized for Land	(1,000)
Subsequent costs capitalized for buildings and improvements	1,769,000
Gross amount of land	1,063,000
Gross amount of buildings and improvements	13,087,000
Total	14,150,000
Accumulated depreciation	(1,303,000)
Hyatt Place Indianapolis Keystone
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(15,470,000)
Initial cost of land	1,918,000
Initial cost of buildings and improvements	13,935,000
Subsequent costs capitalized for Land	(1,000)
Subsequent costs capitalized for buildings and improvements	1,337,000
Gross amount of land	1,917,000
Gross amount of buildings and improvements	15,271,000
Total	17,188,000
Accumulated depreciation	(1,699,000)
Hyatt Place Memphis Wolfchase Galleria
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,411,000)
Initial cost of land	971,000
Initial cost of buildings and improvements	14,505,000
Subsequent costs capitalized for Land	2,000
Subsequent costs capitalized for buildings and improvements	1,696,000
Gross amount of land	974,000
Gross amount of buildings and improvements	16,202,000
Total	17,175,000
Accumulated depreciation	(1,574,000)
Hyatt Place Miami Airport West Doral
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(15,020,000)
Initial cost of land	2,634,000
Initial cost of buildings and improvements	17,897,000
Subsequent costs capitalized for Land	1,000
Subsequent costs capitalized for buildings and improvements	1,889,000
Gross amount of land	2,634,000
Gross amount of buildings and improvements	19,786,000
Total	22,420,000
Accumulated depreciation	(2,000,000)
Hyatt Place Nashville Franklin Cool Springs
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(15,240,000)
Initial cost of land	2,201,000
Initial cost of buildings and improvements	15,003,000
Subsequent costs capitalized for Land	2,000
Subsequent costs capitalized for buildings and improvements	1,804,000
Gross amount of land	2,202,000
Gross amount of buildings and improvements	16,807,000
Total	19,009,000
Accumulated depreciation	(1,780,000)
Hyatt Place Richmond Innsbrook
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,883,000)
Initial cost of land	1,584,000
Initial cost of buildings and improvements	8,013,000
Subsequent costs capitalized for Land	(5,000)
Subsequent costs capitalized for buildings and improvements	1,483,000
Gross amount of land	1,578,000
Gross amount of buildings and improvements	9,497,000
Total	11,075,000
Accumulated depreciation	(1,362,000)
Hyatt Place Tampa Airport Westshore
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(15,879,000)
Initial cost of land	3,329,000
Initial cost of buildings and improvements	15,710,000
Subsequent costs capitalized for Land	(5,000)
Subsequent costs capitalized for buildings and improvements	1,255,000
Gross amount of land	3,324,000
Gross amount of buildings and improvements	16,965,000
Total	20,290,000
Accumulated depreciation	(1,844,000)
Residence Inn Lexington South Hamburg Place
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,777,000)
Initial cost of land	2,044,000
Initial cost of buildings and improvements	13,313,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,024,000
Gross amount of land	2,044,000
Gross amount of buildings and improvements	15,337,000
Total	17,381,000
Accumulated depreciation	(1,773,000)
SpringHill Suites Lexington Near The University Of Kentucky
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(11,442,000)
Initial cost of land	3,321,000
Initial cost of buildings and improvements	13,064,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,010,000
Gross amount of land	3,321,000
Gross amount of buildings and improvements	15,074,000
Total	18,395,000
Accumulated depreciation	(1,484,000)
Hampton Inn Albany Wolf Road Airport
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(16,849,000)
Initial cost of land	1,717,000
Initial cost of buildings and improvements	16,572,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,281,000
Gross amount of land	1,717,000
Gross amount of buildings and improvements	18,852,000
Total	20,570,000
Accumulated depreciation	(1,915,000)
Hampton Inn Colorado Springs Central Airforce Academy
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(873,000)
Initial cost of land	449,000
Initial cost of buildings and improvements	6,322,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	13,000
Gross amount of land	449,000
Gross amount of buildings and improvements	6,335,000
Total	6,784,000
Accumulated depreciation	(784,000)
Hampton Inn Baltimore Glen Burnie
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(5,290,000)
Initial cost of land	0
Initial cost of buildings and improvements	5,438,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,380,000
Gross amount of land	0
Gross amount of buildings and improvements	6,818,000
Total	6,818,000
Accumulated depreciation	(1,679,000)
Hampton Inn Beckley
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(13,277,000)
Initial cost of land	857,000
Initial cost of buildings and improvements	13,670,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	979,000
Gross amount of land	857,000
Gross amount of buildings and improvements	14,649,000
Total	15,506,000
Accumulated depreciation	(1,459,000)
Hampton Inn Birmingham Mountain Brook
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(6,476,000)
Initial cost of land	0
Initial cost of buildings and improvements	9,863,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,666,000
Gross amount of land	0
Gross amount of buildings and improvements	11,529,000
Total	11,529,000
Accumulated depreciation	(1,113,000)
Hampton Inn Boca Raton
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(11,744,000)
Initial cost of land	2,027,000
Initial cost of buildings and improvements	10,420,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,916,000
Gross amount of land	2,027,000
Gross amount of buildings and improvements	12,336,000
Total	14,363,000
Accumulated depreciation	(1,319,000)
Hampton Inn Boca Raton Deerfield Beach
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,000,000)
Initial cost of land	2,781,000
Initial cost of buildings and improvements	9,338,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	63,000
Gross amount of land	2,781,000
Gross amount of buildings and improvements	9,401,000
Total	12,182,000
Accumulated depreciation	(1,008,000)
Hampton Inn Chicago Gurnee
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,529,000)
Initial cost of land	757,000
Initial cost of buildings and improvements	12,189,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	76,000
Gross amount of land	757,000
Gross amount of buildings and improvements	12,266,000
Total	13,023,000
Accumulated depreciation	(1,331,000)
Hampton Inn Columbia I 26 Airport
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(6,672,000)
Initial cost of land	1,209,000
Initial cost of buildings and improvements	3,684,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,517,000
Gross amount of land	1,209,000
Gross amount of buildings and improvements	5,201,000
Total	6,410,000
Accumulated depreciation	(649,000)
Hampton Inn Columbus Dublin
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,492,000)
Initial cost of land	1,140,000
Initial cost of buildings and improvements	10,856,000
Subsequent costs capitalized for Land	(416,000)
Subsequent costs capitalized for buildings and improvements	(4,591,000)
Gross amount of land	724,000
Gross amount of buildings and improvements	6,265,000
Total	6,989,000
Accumulated depreciation	(96,000)
Hampton Inn Detroit Madison Heights South Troy
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(11,655,000)
Initial cost of land	1,950,000
Initial cost of buildings and improvements	11,834,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,015,000
Gross amount of land	1,950,000
Gross amount of buildings and improvements	12,849,000
Total	14,799,000
Accumulated depreciation	(1,294,000)
Hampton Inn Detroit Northville
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(7,564,000)
Initial cost of land	1,210,000
Initial cost of buildings and improvements	8,591,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	974,000
Gross amount of land	1,210,000
Gross amount of buildings and improvements	9,565,000
Total	10,775,000
Accumulated depreciation	(1,165,000)
Hampton Inn Kansas City Overland Park
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(6,882,000)
Initial cost of land	1,233,000
Initial cost of buildings and improvements	9,210,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,170,000
Gross amount of land	1,233,000
Gross amount of buildings and improvements	10,380,000
Total	11,613,000
Accumulated depreciation	(1,317,000)
Hampton Inn Kansas City Airport
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,444,000)
Initial cost of land	1,362,000
Initial cost of buildings and improvements	9,247,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	261,000
Gross amount of land	1,362,000
Gross amount of buildings and improvements	9,509,000
Total	10,871,000
Accumulated depreciation	(1,035,000)
Hampton Inn Memphis Poplar
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,876,000)
Initial cost of land	2,168,000
Initial cost of buildings and improvements	10,618,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,639,000
Gross amount of land	2,168,000
Gross amount of buildings and improvements	12,257,000
Total	14,425,000
Accumulated depreciation	(1,246,000)
Hampton Inn Morgantown
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(9,243,000)
Initial cost of land	3,062,000
Initial cost of buildings and improvements	12,810,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	422,000
Gross amount of land	3,062,000
Gross amount of buildings and improvements	13,233,000
Total	16,294,000
Accumulated depreciation	(1,343,000)
Hampton Inn Norfolk Naval Base
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(2,390,000)
Initial cost of land	0
Initial cost of buildings and improvements	6,873,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,011,000
Gross amount of land	0
Gross amount of buildings and improvements	8,884,000
Total	8,884,000
Accumulated depreciation	(1,495,000)
Hampton Inn Palm Beach Gardens
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(17,133,000)
Initial cost of land	3,253,000
Initial cost of buildings and improvements	17,724,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,450,000
Gross amount of land	3,253,000
Gross amount of buildings and improvements	19,174,000
Total	22,427,000
Accumulated depreciation	(1,840,000)
Hampton Inn Pickwick Dam @ Shiloh Falls
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(2,210,000)
Initial cost of land	148,000
Initial cost of buildings and improvements	2,089,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	120,000
Gross amount of land	148,000
Gross amount of buildings and improvements	2,209,000
Total	2,357,000
Accumulated depreciation	(336,000)
Hampton Inn Scranton @ Montage Mountain
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,346,000)
Initial cost of land	754,000
Initial cost of buildings and improvements	11,174,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,250,000
Gross amount of land	754,000
Gross amount of buildings and improvements	12,424,000
Total	13,177,000
Accumulated depreciation	(1,252,000)
Hampton Inn St Louis Westport
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(9,417,000)
Initial cost of land	1,359,000
Initial cost of buildings and improvements	8,486,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	854,000
Gross amount of land	1,359,000
Gross amount of buildings and improvements	9,340,000
Total	10,698,000
Accumulated depreciation	(949,000)
Hampton Inn State College
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(11,653,000)
Initial cost of land	2,509,000
Initial cost of buildings and improvements	9,359,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,934,000
Gross amount of land	2,509,000
Gross amount of buildings and improvements	11,293,000
Total	13,802,000
Accumulated depreciation	(1,202,000)
Hampton Inn West Palm Beach Florida Turnpike
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(14,425,000)
Initial cost of land	2,008,000
Initial cost of buildings and improvements	13,636,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	54,000
Gross amount of land	2,008,000
Gross amount of buildings and improvements	13,690,000
Total	15,698,000
Accumulated depreciation	(1,412,000)
Homewood Suites Hartford Windsor Locks
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(9,633,000)
Initial cost of land	3,072,000
Initial cost of buildings and improvements	8,996,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	3,628,000
Gross amount of land	3,072,000
Gross amount of buildings and improvements	12,624,000
Total	15,696,000
Accumulated depreciation	(1,656,000)
Homewood Suites Memphis Germantown
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(6,283,000)
Initial cost of land	1,024,000
Initial cost of buildings and improvements	8,871,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,345,000
Gross amount of land	1,024,000
Gross amount of buildings and improvements	11,216,000
Total	12,239,000
Accumulated depreciation	(1,571,000)
Homewood Suites Phoenix Biltmore
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(17,226,000)
Initial cost of land	0
Initial cost of buildings and improvements	23,722,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,335,000
Gross amount of land	0
Gross amount of buildings and improvements	26,057,000
Total	26,057,000
Accumulated depreciation	(2,705,000)
Hampton Inn & Suites Boynton Beach
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(26,074,000)
Initial cost of land	1,393,000
Initial cost of buildings and improvements	24,759,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,043,000
Gross amount of land	1,393,000
Gross amount of buildings and improvements	26,802,000
Total	28,195,000
Accumulated depreciation	(2,563,000)
Hampton Inn Cleveland Westlake
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,790,000)
Initial cost of land	4,177,000
Initial cost of buildings and improvements	10,002,000
Subsequent costs capitalized for Land	(2,499,000)
Subsequent costs capitalized for buildings and improvements	(6,347,000)
Gross amount of land	1,678,000
Gross amount of buildings and improvements	3,655,000
Total	5,333,000
Accumulated depreciation	(129,000)
Courtyard Athens Downtown
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,024,000)
Initial cost of land	3,201,000
Initial cost of buildings and improvements	7,305,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,796,000
Gross amount of land	3,201,000
Gross amount of buildings and improvements	9,100,000
Total	12,301,000
Accumulated depreciation	(879,000)
Courtyard Gainesville
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(12,618,000)
Initial cost of land	2,904,000
Initial cost of buildings and improvements	8,605,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	178,000
Gross amount of land	2,904,000
Gross amount of buildings and improvements	8,783,000
Total	11,687,000
Accumulated depreciation	(962,000)
Courtyard Knoxville Cedar Bluff
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(7,531,000)
Initial cost of land	1,289,000
Initial cost of buildings and improvements	8,556,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,366,000
Gross amount of land	1,289,000
Gross amount of buildings and improvements	9,923,000
Total	11,212,000
Accumulated depreciation	(1,135,000)
Courtyard Mobile
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(681,000)
Initial cost of land	0
Initial cost of buildings and improvements	3,657,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,528,000
Gross amount of land	0
Gross amount of buildings and improvements	5,186,000
Total	5,186,000
Accumulated depreciation	(790,000)
Courtyard Orlando Altamonte Springs Maitland
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(13,993,000)
Initial cost of land	1,716,000
Initial cost of buildings and improvements	11,463,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	176,000
Gross amount of land	1,716,000
Gross amount of buildings and improvements	11,639,000
Total	13,356,000
Accumulated depreciation	(1,197,000)
Courtyard Sarasota Bradenton
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(11,230,000)
Initial cost of land	1,928,000
Initial cost of buildings and improvements	8,334,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,864,000
Gross amount of land	1,928,000
Gross amount of buildings and improvements	10,198,000
Total	12,126,000
Accumulated depreciation	(1,020,000)
Courtyard Tallahassee North I 10 Capital Circle
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(12,385,000)
Initial cost of land	2,767,000
Initial cost of buildings and improvements	9,254,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	277,000
Gross amount of land	2,767,000
Gross amount of buildings and improvements	9,531,000
Total	12,298,000
Accumulated depreciation	(1,086,000)
Holiday Inn Express & Suites Kendall East Miami
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(7,707,000)
Initial cost of land	1,248,000
Initial cost of buildings and improvements	7,525,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	568,000
Gross amount of land	1,248,000
Gross amount of buildings and improvements	8,093,000
Total	9,341,000
Accumulated depreciation	(819,000)
Residence Inn Chattanooga Downtown
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,876,000)
Initial cost of land	1,142,000
Initial cost of buildings and improvements	10,112,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,406,000
Gross amount of land	1,142,000
Gross amount of buildings and improvements	11,518,000
Total	12,659,000
Accumulated depreciation	(1,259,000)
Residence Inn Fort Myers
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(9,586,000)
Initial cost of land	1,372,000
Initial cost of buildings and improvements	8,765,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,919,000
Gross amount of land	1,372,000
Gross amount of buildings and improvements	10,684,000
Total	12,056,000
Accumulated depreciation	(1,075,000)
Residence Inn Knoxville Cedar Bluff
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,761,000)
Initial cost of land	1,474,000
Initial cost of buildings and improvements	9,580,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,050,000
Gross amount of land	1,474,000
Gross amount of buildings and improvements	11,630,000
Total	13,104,000
Accumulated depreciation	(1,187,000)
Residence Inn Macon
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(5,585,000)
Initial cost of land	1,046,000
Initial cost of buildings and improvements	5,381,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,625,000
Gross amount of land	1,046,000
Gross amount of buildings and improvements	7,006,000
Total	8,052,000
Accumulated depreciation	(1,068,000)
Residence Inn Mobile
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(4,519,000)
Initial cost of land	0
Initial cost of buildings and improvements	6,714,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,130,000
Gross amount of land	0
Gross amount of buildings and improvements	7,844,000
Total	7,844,000
Accumulated depreciation	(768,000)
Residence Inn Sarasota Bradenton
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,931,000)
Initial cost of land	2,138,000
Initial cost of buildings and improvements	9,118,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,165,000
Gross amount of land	2,138,000
Gross amount of buildings and improvements	11,283,000
Total	13,421,000
Accumulated depreciation	(1,048,000)
Residence Inn Savannah Midtown
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,840,000)
Initial cost of land	1,106,000
Initial cost of buildings and improvements	9,349,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,757,000
Gross amount of land	1,106,000
Gross amount of buildings and improvements	11,106,000
Total	12,212,000
Accumulated depreciation	(1,178,000)
Residence Inn Tallahassee North I 10 Capital Circle
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(9,019,000)
Initial cost of land	1,349,000
Initial cost of buildings and improvements	9,983,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,821,000
Gross amount of land	1,349,000
Gross amount of buildings and improvements	11,804,000
Total	13,153,000
Accumulated depreciation	(1,320,000)
Residence Inn Tampa North I 75 Fletcher
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(9,219,000)
Initial cost of land	1,251,000
Initial cost of buildings and improvements	8,174,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,188,000
Gross amount of land	1,251,000
Gross amount of buildings and improvements	10,362,000
Total	11,612,000
Accumulated depreciation	(1,012,000)
Residence Inn Tampa Sabal Park Brandon
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(14,242,000)
Initial cost of land	1,773,000
Initial cost of buildings and improvements	10,830,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,816,000
Gross amount of land	1,773,000
Gross amount of buildings and improvements	13,646,000
Total	15,419,000
Accumulated depreciation	(1,290,000)
Courtyard Bowling Green Convention Center
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(9,012,000)
Initial cost of land	503,000
Initial cost of buildings and improvements	11,003,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,299,000
Gross amount of land	504,000
Gross amount of buildings and improvements	12,302,000
Total	12,806,000
Accumulated depreciation	(1,154,000)
Courtyard Chicago Elmhurst Oakbrook Area
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(7,182,000)
Initial cost of land	1,323,000
Initial cost of buildings and improvements	11,868,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	183,000
Gross amount of land	1,323,000
Gross amount of buildings and improvements	12,051,000
Total	13,374,000
Accumulated depreciation	(2,773,000)
Courtyard Jacksonville Airport Northeast
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(6,229,000)
Initial cost of land	1,783,000
Initial cost of buildings and improvements	5,459,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,461,000
Gross amount of land	1,783,000
Gross amount of buildings and improvements	6,920,000
Total	8,703,000
Accumulated depreciation	(1,143,000)
Hampton Inn & Suites Nashville Franklin Cool Springs
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(19,714,000)
Initial cost of land	2,526,000
Initial cost of buildings and improvements	16,985,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,038,000
Gross amount of land	2,525,000
Gross amount of buildings and improvements	19,023,000
Total	21,548,000
Accumulated depreciation	(1,842,000)
Hampton Inn Boston Peabody
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(13,102,000)
Initial cost of land	3,008,000
Initial cost of buildings and improvements	11,846,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,248,000
Gross amount of land	3,008,000
Gross amount of buildings and improvements	13,094,000
Total	16,102,000
Accumulated depreciation	(1,412,000)
Hampton Inn Grand Rapids North
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(11,923,000)
Initial cost of land	2,191,000
Initial cost of buildings and improvements	11,502,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,441,000
Gross amount of land	2,191,000
Gross amount of buildings and improvements	12,943,000
Total	15,134,000
Accumulated depreciation	(1,377,000)
Homewood Suites Boston Peabody
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(7,235,000)
Initial cost of land	2,508,000
Initial cost of buildings and improvements	8,654,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,908,000
Gross amount of land	2,508,000
Gross amount of buildings and improvements	11,562,000
Total	14,070,000
Accumulated depreciation	(1,797,000)
Hyatt Place Las Vegas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(18,772,000)
Initial cost of land	2,902,000
Initial cost of buildings and improvements	17,419,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,733,000
Gross amount of land	2,902,000
Gross amount of buildings and improvements	19,153,000
Total	22,055,000
Accumulated depreciation	(2,244,000)
Hyatt Place Minneapolis Airport South
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(12,118,000)
Initial cost of land	2,519,000
Initial cost of buildings and improvements	11,810,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,259,000
Gross amount of land	2,519,000
Gross amount of buildings and improvements	13,068,000
Total	15,587,000
Accumulated depreciation	(1,447,000)
Residence Inn Boise Downtown
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(13,350,000)
Initial cost of land	1,776,000
Initial cost of buildings and improvements	10,203,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	4,791,000
Gross amount of land	1,776,000
Gross amount of buildings and improvements	14,993,000
Total	16,770,000
Accumulated depreciation	(1,801,000)
Residence Inn Portland Downtown Lloyd Center
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(39,803,000)
Initial cost of land	25,213,000
Initial cost of buildings and improvements	23,231,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	551,000
Gross amount of land	25,213,000
Gross amount of buildings and improvements	23,782,000
Total	48,994,000
Accumulated depreciation	(2,797,000)
SpringHill Suites Grand Rapids North
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,627,000)
Initial cost of land	1,063,000
Initial cost of buildings and improvements	9,312,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,895,000
Gross amount of land	1,063,000
Gross amount of buildings and improvements	11,208,000
Total	12,271,000
Accumulated depreciation	(1,085,000)
Hyatt Place Kansas City Overland Park Metcalf
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(4,864,000)
Initial cost of land	1,038,000
Initial cost of buildings and improvements	7,792,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,696,000
Gross amount of land	1,039,000
Gross amount of buildings and improvements	9,488,000
Total	10,526,000
Accumulated depreciation	(1,287,000)
Courtyard Asheville
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(14,206,000)
Initial cost of land	2,236,000
Initial cost of buildings and improvements	10,290,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,396,000
Gross amount of land	2,236,000
Gross amount of buildings and improvements	11,687,000
Total	13,922,000
Accumulated depreciation	(1,140,000)
Courtyard Dallas Market Center
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(16,833,000)
Initial cost of land	0
Initial cost of buildings and improvements	19,768,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,516,000
Gross amount of land	0
Gross amount of buildings and improvements	22,284,000
Total	22,284,000
Accumulated depreciation	(2,457,000)
Fairfield Inn & Suites Dallas Market Center
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(11,386,000)
Initial cost of land	1,550,000
Initial cost of buildings and improvements	7,236,000
Subsequent costs capitalized for Land	1,000
Subsequent costs capitalized for buildings and improvements	28,000
Gross amount of land	1,552,000
Gross amount of buildings and improvements	7,264,000
Total	8,816,000
Accumulated depreciation	(758,000)
Hilton Garden Inn Austin Round Rock
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(9,093,000)
Initial cost of land	2,797,000
Initial cost of buildings and improvements	10,920,000
Subsequent costs capitalized for Land	2,000
Subsequent costs capitalized for buildings and improvements	2,463,000
Gross amount of land	2,799,000
Gross amount of buildings and improvements	13,383,000
Total	16,182,000
Accumulated depreciation	(1,519,000)
Residence Inn Los Angeles Airport El Segundo
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(42,499,000)
Initial cost of land	16,416,000
Initial cost of buildings and improvements	21,618,000
Subsequent costs capitalized for Land	13,000
Subsequent costs capitalized for buildings and improvements	1,857,000
Gross amount of land	16,429,000
Gross amount of buildings and improvements	23,476,000
Total	39,904,000
Accumulated depreciation	(2,544,000)
Residence Inn San Diego Rancho Bernardo Scripps Poway
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(21,885,000)
Initial cost of land	5,261,000
Initial cost of buildings and improvements	18,677,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,637,000
Gross amount of land	5,261,000
Gross amount of buildings and improvements	20,314,000
Total	25,575,000
Accumulated depreciation	(1,941,000)
SpringHill Suites Austin Round Rock
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(6,577,000)
Initial cost of land	2,196,000
Initial cost of buildings and improvements	8,305,000
Subsequent costs capitalized for Land	(1,000)
Subsequent costs capitalized for buildings and improvements	2,632,000
Gross amount of land	2,196,000
Gross amount of buildings and improvements	10,937,000
Total	13,133,000
Accumulated depreciation	(1,058,000)
SpringHill Suites Houston Hobby Airport
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(4,076,000)
Initial cost of land	762,000
Initial cost of buildings and improvements	11,755,000
Subsequent costs capitalized for Land	(307,000)
Subsequent costs capitalized for buildings and improvements	(3,732,000)
Gross amount of land	455,000
Gross amount of buildings and improvements	8,023,000
Total	8,478,000
Accumulated depreciation	0
SpringHill Suites San Antonio Medical Center Northwest
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(676,000)
Initial cost of land	0
Initial cost of buildings and improvements	7,161,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,029,000
Gross amount of land	0
Gross amount of buildings and improvements	8,190,000
Total	8,190,000
Accumulated depreciation	(317,000)
SpringHill Suites San Diego Rancho Bernardo Scripps Poway
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(21,425,000)
Initial cost of land	3,905,000
Initial cost of buildings and improvements	16,999,000
Subsequent costs capitalized for Land	(3,000)
Subsequent costs capitalized for buildings and improvements	3,363,000
Gross amount of land	3,902,000
Gross amount of buildings and improvements	20,362,000
Total	24,264,000
Accumulated depreciation	(1,868,000)
Hampton Inn Charlotte Gastonia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,163,000)
Initial cost of land	1,357,000
Initial cost of buildings and improvements	10,073,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,934,000
Gross amount of land	1,357,000
Gross amount of buildings and improvements	12,008,000
Total	13,365,000
Accumulated depreciation	(1,149,000)
Hampton Inn Dallas Addison
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(7,975,000)
Initial cost of land	1,538,000
Initial cost of buildings and improvements	7,475,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	116,000
Gross amount of land	1,538,000
Gross amount of buildings and improvements	7,591,000
Total	9,129,000
Accumulated depreciation	(832,000)
Homewood Suites San Antonio Northwest
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,429,000)
Initial cost of land	1,998,000
Initial cost of buildings and improvements	13,060,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	4,018,000
Gross amount of land	1,998,000
Gross amount of buildings and improvements	17,078,000
Total	19,076,000
Accumulated depreciation	(2,147,000)
Courtyard Dalton
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(7,373,000)
Initial cost of land	676,000
Initial cost of buildings and improvements	8,241,000
Subsequent costs capitalized for Land	1,000
Subsequent costs capitalized for buildings and improvements	1,763,000
Gross amount of land	677,000
Gross amount of buildings and improvements	10,005,000
Total	10,681,000
Accumulated depreciation	(1,170,000)
Hampton Inn Orlando International Drive Convention Center
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(13,148,000)
Initial cost of land	1,183,000
Initial cost of buildings and improvements	14,899,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	4,325,000
Gross amount of land	1,183,000
Gross amount of buildings and improvements	19,224,000
Total	20,407,000
Accumulated depreciation	(1,580,000)
Hilton Garden Inn Albuquerque North Rio Rancho
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,924,000)
Initial cost of land	1,141,000
Initial cost of buildings and improvements	9,818,000
Subsequent costs capitalized for Land	1,000
Subsequent costs capitalized for buildings and improvements	2,727,000
Gross amount of land	1,142,000
Gross amount of buildings and improvements	12,545,000
Total	13,687,000
Accumulated depreciation	(1,074,000)
Homewood Suites Orlando International Drive Convention Center
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(22,894,000)
Initial cost of land	2,182,000
Initial cost of buildings and improvements	26,507,000
Subsequent costs capitalized for Land	6,000
Subsequent costs capitalized for buildings and improvements	1,033,000
Gross amount of land	2,187,000
Gross amount of buildings and improvements	27,540,000
Total	29,727,000
Accumulated depreciation	(2,770,000)
Hampton Inn Chicago Naperville
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,823,000)
Initial cost of land	1,363,000
Initial cost of buildings and improvements	9,460,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,186,000
Gross amount of land	1,363,000
Gross amount of buildings and improvements	10,645,000
Total	12,008,000
Accumulated depreciation	(1,231,000)
Hampton Inn Indianapolis Northeast Castleton
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,561,000)
Initial cost of land	1,587,000
Initial cost of buildings and improvements	8,144,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	49,000
Gross amount of land	1,587,000
Gross amount of buildings and improvements	8,193,000
Total	9,780,000
Accumulated depreciation	(1,268,000)
Hampton Inn Knoxville Airport
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(6,095,000)
Initial cost of land	1,033,000
Initial cost of buildings and improvements	5,898,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	1,033,000
Gross amount of buildings and improvements	5,898,000
Total	6,931,000
Accumulated depreciation	(863,000)
Hampton Inn Milford
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(3,765,000)
Initial cost of land	1,652,000
Initial cost of buildings and improvements	5,060,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,675,000
Gross amount of land	1,652,000
Gross amount of buildings and improvements	7,734,000
Total	9,386,000
Accumulated depreciation	(1,069,000)
Homewood Suites Augusta
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(6,370,000)
Initial cost of land	874,000
Initial cost of buildings and improvements	8,225,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,752,000
Gross amount of land	874,000
Gross amount of buildings and improvements	9,977,000
Total	10,851,000
Accumulated depreciation	(1,227,000)
Homewood Suites Seattle Downtown
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(50,154,000)
Initial cost of land	12,580,000
Initial cost of buildings and improvements	41,011,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	4,698,000
Gross amount of land	12,580,000
Gross amount of buildings and improvements	45,709,000
Total	58,289,000
Accumulated depreciation	(4,503,000)
Hampton Inn Champaign Urbana
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(15,893,000)
Initial cost of land	2,206,000
Initial cost of buildings and improvements	17,451,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	3,000
Gross amount of land	2,206,000
Gross amount of buildings and improvements	17,454,000
Total	19,660,000
Accumulated depreciation	(1,766,000)
Hampton Inn East Lansing
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,050,000)
Initial cost of land	3,219,000
Initial cost of buildings and improvements	10,101,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	936,000
Gross amount of land	3,219,000
Gross amount of buildings and improvements	11,037,000
Total	14,257,000
Accumulated depreciation	(1,138,000)
Hilton Garden Inn Louisville East
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(14,210,000)
Initial cost of land	1,022,000
Initial cost of buildings and improvements	16,350,000
Subsequent costs capitalized for Land	1,000
Subsequent costs capitalized for buildings and improvements	2,259,000
Gross amount of land	1,023,000
Gross amount of buildings and improvements	18,609,000
Total	19,632,000
Accumulated depreciation	(1,683,000)
Residence Inn Jacksonville Airport
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(5,416,000)
Initial cost of land	1,451,000
Initial cost of buildings and improvements	6,423,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,289,000
Gross amount of land	1,451,000
Gross amount of buildings and improvements	8,712,000
Total	10,163,000
Accumulated depreciation	(1,271,000)
TownePlace Suites Savannah Midtown
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(9,907,000)
Initial cost of land	1,502,000
Initial cost of buildings and improvements	7,827,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,918,000
Gross amount of land	1,502,000
Gross amount of buildings and improvements	9,744,000
Total	11,246,000
Accumulated depreciation	(925,000)
Courtyard Houston I 10 West Energy Corridor
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(18,116,000)
Initial cost of land	10,444,000
Initial cost of buildings and improvements	20,710,000
Subsequent costs capitalized for Land	6,000
Subsequent costs capitalized for buildings and improvements	2,820,000
Gross amount of land	10,449,000
Gross amount of buildings and improvements	23,531,000
Total	33,979,000
Accumulated depreciation	(2,665,000)
Courtyard San Diego Carlsbad
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(17,864,000)
Initial cost of land	5,080,000
Initial cost of buildings and improvements	14,007,000
Subsequent costs capitalized for Land	9,000
Subsequent costs capitalized for buildings and improvements	141,000
Gross amount of land	5,090,000
Gross amount of buildings and improvements	14,148,000
Total	19,238,000
Accumulated depreciation	(1,516,000)
Hampton Inn Austin North @ IH 35 & Highway 183
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(13,128,000)
Initial cost of land	1,774,000
Initial cost of buildings and improvements	9,798,000
Subsequent costs capitalized for Land	(8,000)
Subsequent costs capitalized for buildings and improvements	1,428,000
Gross amount of land	1,765,000
Gross amount of buildings and improvements	11,226,000
Total	12,991,000
Accumulated depreciation	(1,067,000)
SpringHill Suites Asheville
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(13,629,000)
Initial cost of land	2,149,000
Initial cost of buildings and improvements	9,930,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,505,000
Gross amount of land	2,149,000
Gross amount of buildings and improvements	11,436,000
Total	13,585,000
Accumulated depreciation	(1,103,000)
Hampton Inn College Station
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(13,080,000)
Initial cost of land	3,305,000
Initial cost of buildings and improvements	10,523,000
Subsequent costs capitalized for Land	(1,426,000)
Subsequent costs capitalized for buildings and improvements	(4,604,000)
Gross amount of land	1,880,000
Gross amount of buildings and improvements	5,919,000
Total	7,799,000
Accumulated depreciation	(83,000)
Courtyard Flagstaff
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(25,550,000)
Initial cost of land	5,258,000
Initial cost of buildings and improvements	24,313,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,054,000
Gross amount of land	5,258,000
Gross amount of buildings and improvements	26,367,000
Total	31,625,000
Accumulated depreciation	(2,307,000)
DoubleTree Baton Rouge
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(14,420,000)
Initial cost of land	1,497,000
Initial cost of buildings and improvements	14,777,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,218,000
Gross amount of land	1,497,000
Gross amount of buildings and improvements	15,995,000
Total	17,493,000
Accumulated depreciation	(1,798,000)
Fairfield Inn & Suites Baton Rouge South
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(3,965,000)
Initial cost of land	971,000
Initial cost of buildings and improvements	3,391,000
Subsequent costs capitalized for Land	(151,000)
Subsequent costs capitalized for buildings and improvements	(655,000)
Gross amount of land	820,000
Gross amount of buildings and improvements	2,736,000
Total	3,555,000
Accumulated depreciation	(124,000)
Hampton Inn Medford
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(9,450,000)
Initial cost of land	1,245,000
Initial cost of buildings and improvements	10,353,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	107,000
Gross amount of land	1,245,000
Gross amount of buildings and improvements	10,459,000
Total	11,704,000
Accumulated depreciation	(956,000)
Hampton Inn Fort Wayne Southwest
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,780,000)
Initial cost of land	1,242,000
Initial cost of buildings and improvements	10,511,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	373,000
Gross amount of land	1,242,000
Gross amount of buildings and improvements	10,885,000
Total	12,127,000
Accumulated depreciation	(1,133,000)
Hampton Inn & Suites El Paso Airport
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(13,440,000)
Initial cost of land	1,641,000
Initial cost of buildings and improvements	18,733,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	12,000
Gross amount of land	1,641,000
Gross amount of buildings and improvements	18,745,000
Total	20,386,000
Accumulated depreciation	(1,856,000)
Residence Inn Fort Wayne Southwest
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,920,000)
Initial cost of land	1,267,000
Initial cost of buildings and improvements	12,136,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	191,000
Gross amount of land	1,267,000
Gross amount of buildings and improvements	12,327,000
Total	13,594,000
Accumulated depreciation	(1,119,000)
SpringHill Suites Baton Rouge South
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(4,830,000)
Initial cost of land	1,131,000
Initial cost of buildings and improvements	5,744,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	174,000
Gross amount of land	1,131,000
Gross amount of buildings and improvements	5,918,000
Total	7,049,000
Accumulated depreciation	(581,000)
SpringHill Suites Flagstaff
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(15,375,000)
Initial cost of land	1,641,000
Initial cost of buildings and improvements	14,283,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,171,000
Gross amount of land	1,641,000
Gross amount of buildings and improvements	15,454,000
Total	17,096,000
Accumulated depreciation	(1,522,000)
TownePlace Suites Baton Rouge South
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(6,440,000)
Initial cost of land	1,055,000
Initial cost of buildings and improvements	6,173,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	157,000
Gross amount of land	1,055,000
Gross amount of buildings and improvements	6,330,000
Total	7,386,000
Accumulated depreciation	(691,000)
Courtyard Columbus Downtown
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(18,830,000)
Initial cost of land	2,367,000
Initial cost of buildings and improvements	25,191,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	58,000
Gross amount of land	2,367,000
Gross amount of buildings and improvements	25,249,000
Total	27,616,000
Accumulated depreciation	(2,072,000)
Hilton Garden Inn Monterey
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(30,600,000)
Initial cost of land	6,110,000
Initial cost of buildings and improvements	27,713,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	6,110,000
Gross amount of buildings and improvements	27,713,000
Total	33,823,000
Accumulated depreciation	(3,071,000)
Hyatt House Atlanta Cobb Galleria
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(16,520,000)
Initial cost of land	4,386,000
Initial cost of buildings and improvements	22,777,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	11,000
Gross amount of land	4,386,000
Gross amount of buildings and improvements	22,788,000
Total	27,174,000
Accumulated depreciation	(1,917,000)
Hyatt Place Chicago Schaumburg
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(4,510,000)
Initial cost of land	1,519,000
Initial cost of buildings and improvements	9,582,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,756,000
Gross amount of land	1,519,000
Gross amount of buildings and improvements	11,338,000
Total	12,857,000
Accumulated depreciation	(1,220,000)
Fairfield Inn & Suites Spokane Downtown
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(7,420,000)
Initial cost of land	1,733,000
Initial cost of buildings and improvements	10,750,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	3,000
Gross amount of land	1,733,000
Gross amount of buildings and improvements	10,752,000
Total	12,486,000
Accumulated depreciation	(876,000)
Fairfield Inn & Suites Denver Airport
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(15,260,000)
Initial cost of land	1,429,000
Initial cost of buildings and improvements	15,675,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,916,000
Gross amount of land	1,430,000
Gross amount of buildings and improvements	17,591,000
Total	19,021,000
Accumulated depreciation	(1,290,000)
SpringHill Suites Denver Airport
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(12,075,000)
Initial cost of land	941,000
Initial cost of buildings and improvements	10,870,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,463,000
Gross amount of land	941,000
Gross amount of buildings and improvements	12,332,000
Total	13,274,000
Accumulated depreciation	(1,075,000)
Hampton Inn Fort Collins
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(5,600,000)
Initial cost of land	641,000
Initial cost of buildings and improvements	5,578,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	100,000
Gross amount of land	641,000
Gross amount of buildings and improvements	5,677,000
Total	6,319,000
Accumulated depreciation	(561,000)
Fairfield Inn & Suites Seattle Bellevue
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(20,798,000)
Initial cost of land	18,769,000
Initial cost of buildings and improvements	14,182,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,552,000
Gross amount of land	18,769,000
Gross amount of buildings and improvements	15,734,000
Total	34,503,000
Accumulated depreciation	(1,394,000)
Hilton Garden Inn Fort Collins
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(13,090,000)
Initial cost of land	1,331,000
Initial cost of buildings and improvements	17,606,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	206,000
Gross amount of land	1,331,000
Gross amount of buildings and improvements	17,812,000
Total	19,143,000
Accumulated depreciation	(1,543,000)
Courtyard Jackson Ridgeland
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(3,520,000)
Initial cost of land	1,994,000
Initial cost of buildings and improvements	6,603,000
Subsequent costs capitalized for Land	(967,000)
Subsequent costs capitalized for buildings and improvements	(3,378,000)
Gross amount of land	1,027,000
Gross amount of buildings and improvements	3,226,000
Total	4,253,000
Accumulated depreciation	(75,000)
Residence Inn Jackson Ridgeland
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,260,000)
Initial cost of land	949,000
Initial cost of buildings and improvements	11,764,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,000
Gross amount of land	949,000
Gross amount of buildings and improvements	11,767,000
Total	12,716,000
Accumulated depreciation	(556,000)
Homewood Suites Jackson Ridgeland
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(6,150,000)
Initial cost of land	1,571,000
Initial cost of buildings and improvements	7,181,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	32,000
Gross amount of land	1,571,000
Gross amount of buildings and improvements	7,212,000
Total	8,783,000
Accumulated depreciation	(361,000)
Staybridge Suites Jackson
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(3,640,000)
Initial cost of land	996,000
Initial cost of buildings and improvements	5,915,000
Subsequent costs capitalized for Land	(373,000)
Subsequent costs capitalized for buildings and improvements	(2,359,000)
Gross amount of land	622,000
Gross amount of buildings and improvements	3,556,000
Total	4,178,000
Accumulated depreciation	(61,000)
Fairfield Inn & Suites Germantown
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(3,640,000)
Initial cost of land	1,046,000
Initial cost of buildings and improvements	3,316,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	1,046,000
Gross amount of buildings and improvements	3,316,000
Total	4,362,000
Accumulated depreciation	(179,000)
Residence Inn Germantown
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(5,810,000)
Initial cost of land	1,326,000
Initial cost of buildings and improvements	6,784,000
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	1,326,000
Gross amount of buildings and improvements	6,784,000
Total	8,111,000
Accumulated depreciation	(333,000)
Courtyard Germantown
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,680,000)
Initial cost of land	1,851,000
Initial cost of buildings and improvements	8,844,000
Subsequent costs capitalized for Land	(40,000)
Subsequent costs capitalized for buildings and improvements	238,000
Gross amount of land	1,809,000
Gross amount of buildings and improvements	9,082,000
Total	10,892,000
Accumulated depreciation	$ (430,000)

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation - Summary of Activity for Accumulated Depreciation (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)hotel	Dec. 31, 2017USD ($)hotel	Dec. 31, 2016USD ($)
Land, buildings and improvements, at cost:
Balance at January 1	$ 2,263,047	$ 2,178,413	$ 2,047,831
Additions:		60,141	99,726
Capital improvements	52,290	58,793	43,030
Held for Sale		0	0
Dispositions		(11,360)	0
Impairment of depreciable assets	(29,860)	(17,114)	0
Balance at December 31	2,285,477	2,263,047	2,178,413
Accumulated depreciation and amortization:
Balance at January 1	(147,328)	(92,848)	(39,252)
Depreciation expense	(61,651)	(57,890)	(54,377)
Held for Sale		550
Dispositions and other	4,989	2,860
Balance at December 31	$ (203,990)	$ (147,328)	$ (92,848)
Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties held for sale (hotel) | hotel	0	1