Consolidated Statements of Operations (Unaudited) (USD $) In Thousands, except Share data	3 Months Ended		9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Revenue
Rooms	$ 169,145	$ 159,069	$ 508,934	$ 474,889
Food and beverage	33,486	31,932	113,135	108,918
Rental income from operating leases	1,304	1,185	4,008	3,728
Other	10,583	9,520	30,182	29,443
Total hotel revenue	214,518	201,706	656,259	616,978
Interest income from notes receivable		349		1,032
Asset management fees and other	69	100	217	312
Total revenue	214,587	202,155	656,476	618,322
Hotel operating expenses:
Rooms	39,863	37,372	116,114	108,587
Food and beverage	25,155	24,154	78,757	76,755
Other expenses	68,351	65,145	202,753	195,675
Management fees	8,466	8,275	26,509	25,441
Total hotel operating expenses	141,835	134,946	424,133	406,458
Property taxes, insurance and other	12,297	12,298	34,953	37,688
Depreciation and amortization	33,776	33,027	99,580	99,777
Impairment charges	(92)	694	(4,748)	(1,263)
Gain on insurance settlement			(1,905)
Transaction acquisition costs	27		(791)
Corporate general and administrative	9,094	7,700	33,982	22,680
Total expenses	196,937	188,665	585,204	565,340
Operating income	17,650	13,490	71,272	52,982
Equity in earnings (loss) of unconsolidated joint ventures	(6,228)	3	19,596	1,325
Interest income	11	114	70	226
Other income	17,349	15,874	83,509	47,045
Interest expense and amortization of loan costs	(34,530)	(35,239)	(103,916)	(105,624)
Write-off of deferred loan costs	(729)		(729)
Unrealized gain on investments	1,223		1,223
Unrealized gain (loss) on derivatives	(18,302)	382	(52,813)	30,824
Income (loss) from continuing operations before income taxes	(23,556)	(5,376)	18,212	26,778
Income tax (expense) benefit	(1,077)	22	(2,407)	(436)
Income (loss) from continuing operations	(24,633)	(5,354)	15,805	26,342
Income (loss) from discontinued operations	(351)	53,019	(4,170)	34,050
Net income (loss)	(24,984)	47,665	11,635	60,392
(Income) loss from consolidated joint ventures attributable to noncontrolling interests	832	293	(537)	1,422
Net (income) loss attributable to noncontrolling interests in operating partnership	2,935	(6,689)	1,207	(8,610)
Net income (loss) attributable to the Company	(21,217)	41,269	12,305	53,204
Preferred dividends	(7,415)	(4,988)	(38,741)	(14,649)
Net income (loss) attributable to common shareholders	(28,632)	36,281	(26,436)	38,555
Income (loss) per share - Basic and Diluted
Income (loss) from continuing operations attributable to common shareholders	$ (0.43)	$ (0.18)	$ (0.37)	$ 0.17
Income (loss) from discontinued operations attributable to common shareholders	$ 0.00	$ 0.89	$ (0.07)	$ 0.56
Net income (loss) attributable to common shareholders	$ (0.43)	$ 0.71	$ (0.44)	$ 0.73
Weighted average common shares outstanding - basic and diluted	66,801	49,714	60,601	51,251
Dividends declared per common share	$ 0.10		$ 0.30
Amounts attributable to common shareholders:
Income (loss) from continuing operations, net of tax	(20,906)	(4,304)	16,862	23,567
Income (loss) from discontinued operations, net of tax	(311)	45,573	(4,557)	29,637
Preferred dividends	(7,415)	(4,988)	(38,741)	(14,649)
Net income (loss) attributable to common shareholders	$ (28,632)	$ 36,281	$ (26,436)	$ 38,555