Consolidated Balance Sheets (Unaudited) (USD $) In Thousands	Sep. 30, 2011	Dec. 31, 2010
Assets
Investments in hotel properties, net	$ 2,967,797	$ 3,023,736
Cash and cash equivalents	180,886	217,690
Restricted cash	78,478	67,666
Accounts receivable, net of allowance of $242 and $298, respectively	33,942	27,493
Inventories	2,527	2,909
Notes receivable	3,069	20,870
Investment in unconsolidated joint ventures	184,595	15,000
Assets held for sale	0	144,511
Investments in securities and other	28,938	0
Deferred costs, net	16,207	17,519
Prepaid expenses	13,278	12,727
Derivative assets	54,721	106,867
Other assets	4,448	7,502
Intangible assets, net	2,832	2,899
Due from third-party hotel managers	56,685	49,135
Total assets	3,628,403	3,716,524
Liabilities:
Indebtedness	2,391,057	2,518,164
Indebtedness of assets held for sale	0	50,619
Capital leases payable	0	36
Accounts payable and accrued expenses	88,092	79,248
Dividends payable	16,221	7,281
Unfavorable management contract liabilities	14,364	16,058
Due to related party	1,837	2,400
Due to third-party hotel managers	2,078	1,870
Liabilities associated with investments in securities and other	10,096	0
Other liabilities	5,384	4,627
Other liabilities of assets held for sale	0	2,995
Total liabilities	2,529,129	2,683,298
Commitments and contingencies (Note 15)
Preferred stock, $0.01 par value, Series B-1 Cumulative Convertible Redeemable Preferred Stock, 7,247,865 shares issued and outstanding at December 31, 2010	0	72,986
Redeemable noncontrolling interests in operating partnership	107,637	126,722
Shareholders' equity of the Company:
Common stock, $0.01 par value, 200,000,000 shares authorized, 124,896,765 and 123403893 shares issued; and 68,034,685 and 58,999,324 shares outstanding, respectively	1,249	1,234
Additional paid-in capital	1,712,746	1,552,657
Accumulated other comprehensive loss	(173)	(550)
Accumulated deficit	(571,930)	(543,788)
Treasury stock, at cost, 56,862,080 and 64,404,569 shares, respectively	(164,749)	(192,850)
Total shareholders' equity of the Company	977,282	816,808
Noncontrolling interests in consolidated joint ventures	14,355	16,710
Total equity	991,637	833,518
Total liabilities and equity	3,628,403	3,716,524
Series A Cumulative Preferred Stock
Shareholders' equity of the Company:
Preferred stock	15	15
Series D Cumulative Preferred Stock
Shareholders' equity of the Company:
Preferred stock	90	90
Series E Cumulative Preferred Stock
Shareholders' equity of the Company:
Preferred stock	$ 34	$ 0