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SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
12 Months Ended
Dec. 31, 2011
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) [Abstract]  
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
NOTE 15 – SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)


   
Year Ended December 31, 2011
 
   
First Quarter
  
Second Quarter
  
Third Quarter
  
Fourth Quarter
 
Total Revenues
 $50,542  $78,934  $80,940  $76,485 
Total Expenses
  62,492   73,255   74,447   78,194 
Income (Loss) from Unconsolidated Joint Ventures
  (981)  2,559   (1,570)  1,282 
(Loss) Income from Continuing Operations
  (12,931)  8,238   4,923   (427)
                  
(Loss) Income from Discontinued Operations (including Gain on Disposition of Hotel Properties)
  (1,487)  1,110   (27,427)  1,033 
Net (Loss) Income
  (14,418)  9,348   (22,504)  606 
                  
(Loss) Income Allocated to Noncontrolling Interests in Continuing Operations
  (1,077)  459   (1,001)  (115)
Preferred Distributions
  1,200   2,299   3,500   3,500 
Net (Loss) Income applicable to Common Shareholders
 $(14,541) $6,590  $(25,003) $(2,779)
Basic and diluted earnings per share:
                
(Loss) Income from continuing operations applicable to common shareholders
 $(0.08) $0.03  $0.01  $(0.02)
Discontinued Operations
  (0.01  0.01   (0.16)  - 
Net (Loss) Income applicable to Common Shareholders
 $(0.09) $0.04  $(0.15) $(0.02)
Weighted Average Common Shares Outstanding
                
Basic
  168,334,982   168,672,936   168,985,193   169,010,448 
Diluted
  168,334,982   173,687,233   172,266,298   169,010,448 


 
   
Year Ended December 31, 2010
 
   
First Quarter
  
Second Quarter
  
Third Quarter
  
Fourth Quarter
 
Total Revenues
 $42,611  $64,807  $69,133  $65,804 
Total Expenses
  57,701   61,701   67,797   70,639 
(Loss) Income from Unconsolidated Joint Ventures
  778   2,059   (243)  (337)
(Loss) Income from Continuing Operations
  (14,312)  5,165   1,093   (5,172)
                  
(Loss) Income from Discontinued Operations (including Gain on Disposition of Hotel Properties)
  (2,025)  542   509   (3,002)
Net (Loss) Income
  (16,337)  5,707   1,602   (8,174)
                  
(Loss) Income Allocated to Noncontrolling Interests in Continuing Operations
  (1,715)  1,151   263   (544)
Preferred Distributions
  1,200   1,200   1,200   1,200 
Net (Loss) Income applicable to Common Shareholders
 $(15,822) $3,356  $139  $(8,830)
Basic and diluted earnings per share:
                
(Loss) Income from continuing operations applicable to common shareholders
 $(0.14) $0.02  $-  $(0.03)
Discontinued Operations
  (0.02  -   -   (0.02
Net Loss (Income) applicable to Common Shareholders
 $(0.16) $0.02  $-  $(0.05)
Weighted Average Common Shares Outstanding
                
Basic
  99,311,523   137,200,796   138,636,206   161,600,788 
Diluted
  99,311,523   140,351,846   142,066,649   161,600,788