Consolidated Statements Of Cash Flows (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Operating activities:
Net income	$ 10,409	$ 9,475
Adjustments to reconcile net loss to net cash provided by operating activities:
Gain on acquisition of hotel assets	(12,107)
Gain on disposition of hotel properties	(1,043)	(11,452)
Impairment of assets	3,723
Expense for income taxes	309
Depreciation	30,690	27,127
Amortization	1,246	1,982
Debt extinguishment	470	7
Development loan interest added to principal		(678)
Equity in loss of unconsolidated joint ventures	248	540
Distributions from unconsolidated joint ventures	12	1,132
Loss recognized on change in fair value of derivative instrument	106	218
Stock based compensation expense	4,827	4,399
(Increase) decrease in:
Hotel accounts receivable	(2,436)	(1,989)
Escrows	(4,048)	(2,023)
Other assets	(6)	95
Due from related parties	2,712	(4,583)
Increase (decrease) in:
Due to related parties	1,736	1,366
Accounts Payable, Accrued Expenses and Other Liabilities	3,861	367
Net cash provided by operating activities	40,709	25,983
Investing activities:
Purchase of hotel property assets	(166,390)	(68,008)
Deposits on hotel acquisitions, net	264	(15,500)
Capital expenditures	(25,739)	(18,582)
Cash paid for hotel development projects	(9,907)	(5,956)
Proceeds from disposition of hotel properties and investment in unconsolidated joint venture	3,855	63,921
Net changes in capital expenditure escrows	(1,667)	(2,044)
Investment in notes receivable		(150)
Repayment of notes receivable		1,720
Proceeds from insurance claims	2,189
Repayment of development loans receivable	15,122	3,000
Distributions from unconsolidated joint venture	1,382	287
Advances and capital contributions to unconsolidated joint ventures		(130)
Net cash used in investing activities	(180,891)	(41,442)
Financing activities:
Proceeds from (repayments of) borrowings under line of credit, net	66,200	(21,000)
Proceeds from unsecured term loan borrowing	50,000
Principal repayment of mortgages and notes payable	(50,908)	(100,927)
Proceeds from mortgages and notes payable	60,000	45,999
Cash paid for deferred financing costs	(2,235)	(57)
Proceeds from issuance of preferred stock, net	72,371
Proceeds from issuance of common stock, net		128,697
Redemption of Preferred Stock	(60,000)
Redemption of Common Partnership Units	(1,000)
Settlement of interest rate cap	(661)	(69)
Distributions to partners in consolidated joint ventures
Dividends paid on common shares	(25,154)	(20,589)
Dividends paid on preferred shares	(7,344)	(7,000)
Distributions paid on common partnership units	(852)	(872)
Net cash provided by financing activities	100,417	24,182
Net (decrease) increase in cash and cash equivalents	(39,765)	8,723
Cash and cash equivalents - beginning of period	69,059	24,568
Cash and cash equivalents - end of period	$ 29,294	$ 33,291