CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net loss	$ (108,472)	$ (286,100)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization	204,633	246,045
Net amortization of debt issuance costs, discounts and premiums as interest	10,934	9,247
Straight-line rental income	3,685	2,181
Loss on early extinguishment of debt	791	0
Loss on asset impairment, net	8,548	2,110
Unrealized losses on equity securities, net	20,319	3,981
Equity in (earnings) losses of an investee	(1,476)	2,108
Gain on sale of real estate	(44,399)	(10,840)
Other non-cash income, net	(1,305)	(1,363)
Changes in assets and liabilities:
Due from related persons	(17,621)	(628)
Other assets	3,148	17,588
Accounts payable and other liabilities	(4,530)	(245)
Due to related persons	(14,958)	(5,290)
Net cash provided by (used in) operating activities	59,297	(21,206)
Cash flows from investing activities:
Real estate acquisitions and deposits	0	(7,649)
Real estate improvements	(41,098)	(42,295)
Hotel managers’ purchases with restricted cash	(2,459)	(22,959)
Net proceeds from sale of real estate	488,365	33,128
Investment in Sonesta	(45,470)	(25,443)
Net cash provided by (used in) investing activities	399,338	(65,218)
Cash flows from financing activities:
Repayment of senior unsecured notes	(500,000)	0
Borrowings under revolving credit facility	0	984,027
Repayments of revolving credit facility	(200,000)	(62,451)
Deferred financing costs	(2,642)	(6,497)
Repurchase of common shares	(4)	(190)
Distributions to common shareholders	(3,302)	(3,296)
Net cash (used in) provided by financing activities	(705,948)	911,593
(Decrease) increase in cash and cash equivalents and restricted cash	(247,313)	825,169
Cash and cash equivalents and restricted cash at beginning of period	947,418	91,456
Cash and cash equivalents and restricted cash at end of period	$ 700,105	$ 916,625