CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Real estate properties:
Land	$ 1,547,774	$ 1,529,004
Buildings, improvements and equipment	6,993,371	6,740,423
Total real estate properties, gross	8,541,145	8,269,427
Accumulated depreciation	(2,361,264)	(2,218,499)
Total real estate properties, net	6,179,881	6,050,928
Cash and cash equivalents	20,347	13,682
Restricted cash (FF&E reserve escrow)	61,419	51,211
Due from related persons	58,991	50,987
Other assets, net	288,697	227,989
Total assets	6,609,335	6,394,797
LIABILITIES AND SHAREHOLDERS' EQUITY
Unsecured revolving credit facility	232,000	465,000
Unsecured term loan, net	398,088	397,756
Senior unsecured notes, net	2,862,800	2,403,439
Convertible senior unsecured notes	8,478	8,478
Security deposits	77,269	53,579
Accounts payable and other liabilities	190,304	179,783
Due to related persons	40,724	69,514
Dividends payable	5,166	5,166
Total liabilities	3,814,829	3,582,715
Commitments and Contingencies
Preferred shares of beneficial interest, no par value; 100,000,000 shares authorized:
Series D preferred shares; 7 1/8% cumulative redeemable; 11,600,000 shares issued and outstanding, aggregate liquidation preference of $290,000	280,107	280,107
Common shares of beneficial interest, $.01 par value; 200,000,000 shares authorized; 151,559,788 and 151,547,288 shares issued and outstanding, respectively	1,516	1,515
Additional paid in capital	4,166,301	4,165,911
Cumulative net income	2,989,769	2,881,657
Cumulative other comprehensive income (loss)	21,793	(15,523)
Cumulative preferred distributions	(331,645)	(321,313)
Cumulative common distributions	(4,333,335)	(4,180,272)
Total shareholders' equity	2,794,506	2,812,082
Total liabilities and shareholders' equity	$ 6,609,335	$ 6,394,797