Investment In Hotel Properties (Tables)

9 Months Ended

Sep. 30, 2013

Investment In Hotel Properties [Abstract]

Investment In Hotel Properties

		September 30, 2013		December 31, 2012
Land	$	328,753	$	305,286
Buildings and Improvements		1,180,842		1,214,865
Furniture, Fixtures and Equipment		166,238		171,892
Construction in Progress		57,434		40,572
		1,733,267		1,732,615
Less Accumulated Depreciation		(245,662)		(265,902)
Total Investment in Hotel Properties	$	1,487,605	$	1,466,713

Wholly Owned Hotel Properties Acquired

Hotel	Acquisition Date		Land		Buildings and Improvements		Furniture Fixtures and Equipment		Franchise Fees and Loan Costs		Total Purchase Price
Hyatt Union Square, New York, NY	4/9/2013	$	32,940	$	79,300	$	9,760	$	1,945	$	123,945
Courtyard by Marriott, San Diego, CA	5/30/2013		15,656		51,674		3,671		183		71,184
Residence Inn,    Coconut Grove, FL	6/12/2013		4,146		17,456		218		75		21,895
Total		$	52,742	$	148,430	$	13,649	$	2,203	$	217,024

Results Of Operations For Hotels Acquired With 100% Interest

	Three Months Ended September 30,					Nine Months Ended September 30,
	2013					2013
Hotel		Revenue		Net (Loss) Income		Revenue		Net (Loss) Income
Hyatt Union Square, New York, NY	$	3,976	$	(448)	$	6,178	$	(2,195)
Courtyard by Marriott, San Diego, CA		3,807		949		5,121		1,292
Residence Inn, Coconut Grove, FL		1,169		217		1,430		132
Total	$	8,952	$	718	$	12,729	$	(771)

Condensed Pro Forma Financial Data

	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Pro Forma Total Revenues	$	90,291	$	84,359	$	254,112	$	242,196
Pro Forma Income from Continuing Operations	$	5,831	$	3,378	$	18,775	$	2,336
(Loss) Income from Discontinued Operations		(3,532)		2,755		(4,851)		14,060
Pro Forma Net Income		2,299		6,133		13,924		16,396
Loss Allocated to Noncontrolling Interest		164		271		587		184
Preferred Distributions		(3,589)		(3,500)		(11,022)		(10,500)
Extinguishment of Issuance Costs Upon Redemption of Series A Preferred Shares		-		-		(2,250)		-
Pro Forma Net (Loss) Income Applicable to Common Shareholders	$	(1,126)	$	2,904	$	1,239	$	6,080
Pro Forma Income Applicable to Common Shareholders per Common Share
Basic	$	(0.01)	$	0.01	$	0.01	$	0.03
Diluted	$	(0.01)	$	0.01	$	0.01	$	0.03
Weighted Average Common Shares Outstanding
Basic		198,878,496		196,360,325		198,186,963		184,394,561
Diluted		201,644,633		196,360,325		201,488,088		184,394,561

Schedule Of Capitalized Expenditures Related To Hotel Development Projects And Renovations

	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Property Tax	$	110	$	81	$	277	$	215
Interest Expense		337		418		930		1,182
Utility		1		1		3		3
Total	$	448	$	500	$	1,210	$	1,400