CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024		Dec. 31, 2023
Real estate properties:
Land	$ 1,968,963		$ 1,972,145
Buildings, improvements and equipment	7,846,174		7,814,192
Total real estate properties, gross	9,815,137		9,786,337
Accumulated depreciation	(3,237,999)		(3,181,797)
Total real estate properties, net	6,577,138		6,604,540
Acquired real estate leases and other intangibles, net	124,573		130,622
Assets held for sale	8,700		10,500
Cash and cash equivalents	71,287		180,119
Restricted cash	16,039	[1]	17,711
Equity method investment	111,014		113,304
Due from related persons	21,400		6,376
Other assets, net	301,368		292,944
Total assets	7,231,519		7,356,116
LIABILITIES AND SHAREHOLDERS’ EQUITY
Revolving credit facility	0		0
Mortgage notes payable, net	561,349		558,876
Total liabilities	6,116,850		6,129,983
Commitments and contingencies
Shareholders’ equity:
Common shares of beneficial interest, $.01 par value; 200,000,000 shares authorized; 165,768,058 and 165,769,595 shares issued and outstanding, respectively	1,658		1,658
Additional paid in capital	4,557,890		4,557,473
Cumulative other comprehensive income	1,974		2,318
Cumulative net income	2,392,117		2,470,500
Cumulative common distributions	(5,838,970)		(5,805,816)
Total shareholders’ equity	1,114,669		1,226,133
Total liabilities and shareholders’ equity	7,231,519		7,356,116
Senior Secured Notes
LIABILITIES AND SHAREHOLDERS’ EQUITY
Senior notes	969,039		968,017
Senior Unsecured Notes
LIABILITIES AND SHAREHOLDERS’ EQUITY
Senior notes	3,995,757		3,993,327
Nonrelated Party
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable and other liabilities	580,268		587,005
Related Party
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable and other liabilities	$ 10,437		$ 22,758

[1] (1) Restricted cash consists of amounts escrowed pursuant to the terms of our hotel management agreements to fund capital improvements at our hotels and amounts escrowed as required by certain of our debt agreements.