CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
Assets:
Investment in Hotel Properties, net of Accumulated Depreciation	$ 1,340,876	$ 1,245,851
Investment in Unconsolidated Joint Ventures	38,839	35,561
Development Loans Receivable	35,747	41,653
Cash and Cash Equivalents	24,568	65,596
Escrow Deposits	27,321	17,384
Hotel Accounts Receivable, net of allowance for doubtful accounts of $495 and $31	11,353	9,611
Deferred Financing Costs, net of Accumulated Amortization of $9,138 and $5,852	9,023	10,204
Due from Related Parties	6,189	5,069
Intangible Assets, net of Accumulated Amortization of $1,357 and $1,084	8,013	7,934
Deposits on Hotel Acquisitions	19,500	5,500
Other Assets	15,651	12,914
Hotel Assets Held for Sale	93,829	0
Total Assets	1,630,909	1,457,277
Liabilities and Equity:
Line of Credit	51,000	46,000
Mortgages and Notes Payable, net of unamortized discount of $667 and $983	707,374	648,720
Accounts Payable, Accrued Expenses and Other Liabilities	31,140	28,601
Dividends and Distributions Payable	13,908	9,805
Due to Related Parties	2,932	939
Liabilities Related to Assets Held for Sale	61,758	0
Total Liabilities	868,112	734,065
Redeemable Noncontrolling Interests - Common Units (Note 1)	14,955	19,894
Shareholders' Equity:
Accumulated Other Comprehensive Loss	(1,151)	(338)
Additional Paid-in Capital	1,041,027	918,215
Distributions in Excess of Net Income	(310,974)	(236,159)
Total Shareholders' Equity	730,671	683,434
Noncontrolling Interests (Note 1):
Noncontrolling Interests - Common Units	16,864	19,410
Noncontrolling Interests - Consolidated Joint Ventures	307	474
Total Noncontrolling Interests	17,171	19,884
Total Equity	747,842	703,318
Total Liabilities and Equity	1,630,909	1,457,277
Class A Common Shares [Member]
Shareholders' Equity:
Common Shares	1,699	1,692
Series A Preferred Shares [Member]
Shareholders' Equity:
Preferred Shares	24	24
Series B Preferred Shares [Member]
Shareholders' Equity:
Preferred Shares	46	0
Common Shares	$ 0	$ 0