Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands	6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010
Statement of Cash Flows [Abstract]
Net loss	$ (5,070)	$ (10,630)
Depreciation	28,315	24,698
Amortization	1,927	1,363
Debt extinguishment	0	580
Development loan interest added to principal	(1,315)	(1,235)
Equity in income of unconsolidated joint ventures	(1,578)	(2,837)
Loss recognized on change in fair value of derivative instrument	14	5
Stock based compensation expense	3,270	2,156
Hotel accounts receivable	(4,596)	(4,602)
Escrows	(2,374)	756
Other assets	902	1,391
Due from related parties	(1,236)	(952)
Due to related parties	321	(528)
Accounts Payable, Accrued Expenses and Other Liabilities	(823)	5,394
Net cash provided by operating activities	17,757	15,559
Purchase of hotel property assets	(100,770)	(187,355)
Deposits on hotel acquisitions	(21,250)	(1,500)
Capital expenditures	(12,862)	(3,850)
Cash paid for hotel development project	(1,547)	(3,441)
Advances to capital expenditure escrows	(2,858)	(2,053)
Repayments from and advances to unconsolidated joint ventures	13,406	(13,750)
Investment in notes receivable from unconsolidated joint venture	(1,320)	0
Cash paid for franchise fee intangible	(40)	0
Net cash used in investing activities	(127,241)	(211,949)
Repayments of borrowings under line of credit, net	(18,000)	(34,500)
Principal repayment of mortgages and notes payable	(3,419)	(41,283)
Proceeds from mortgages and notes payable	41,778	31,510
Cash paid for deferred financing costs	(273)	(85)
Proceeds from issuance of preferred stock, net	111,160	0
Proceeds from issuance of common stock, net	0	260,764
Acquisition of interest rate cap	0	(394)
Dividends paid on common shares	(16,941)	(9,741)
Dividends paid on preferred shares	(2,400)	(2,400)
Distributions paid on common partnership units	(737)	(936)
Net cash provided by financing activities	111,168	202,935
Net (decrease) increase in cash and cash equivalents	1,684	6,545
Cash and cash equivalents - beginning of period	65,596	11,404
Cash and cash equivalents - end of period	$ 67,280	$ 17,949