Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands	9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010
Cash Flows from Operating Activities
Net income	$ 11,635	$ 60,392
Adjustments to reconcile net income to net cash flow provided by operating activities:
Depreciation and amortization	99,972	109,662
Impairment charges	1,488	10,805
Equity in earnings of unconsolidated joint venture	(19,596)	(1,325)
Gain on insurance settlement	(1,905)
Distributions of earnings from unconsolidated joint venture		492
Income from derivatives	(54,362)	(47,120)
Amortization of loan costs, write-off of loan costs and exit fees	5,209	4,262
Gain on disposition of hotel properties	(2,650)	(55,931)
Unrealized gain on investments	1,223
Unrealized (gain) loss on derivatives	52,813	(30,824)
Equity-based compensation expense	8,428	5,168
Changes in operating assets and liabilities
Restricted cash	(10,812)	9,453
Accounts receivable and inventories	(6,292)	(6,725)
Prepaid expenses and other assets	(870)	(2,840)
Purchase of trading securities	(20,000)
Accounts payable and accrued expenses	10,246	25,648
Due to/from related parties	(563)	899
Due to/from third-party hotel managers	(7,342)	(2,404)
Other liabilities	215	(1,215)
Net cash provided by operating activities	64,391	78,397
Cash Flows from Investing Activities
Repayments of notes receivable	22,550	23,823
Proceeds from sale/disposition of properties	154,015	1,445
Investment in unconsolidated joint venture	(145,328)	(15,000)
Acquisition of condominium properties	(12,000)
Improvements and additions to hotel properties	(45,875)	(46,481)
Insurance proceeds	748
Net cash used in investing activities	(25,890)	(36,213)
Cash Flows from Financing Activities
Borrowings on indebtedness	25,000	4,000
Repayments of indebtedness and capital leases	(205,996)	(188,971)
Payments of deferred loan costs	(3,642)	(3,168)
Issuance of preferred stock	80,788	72,126
Issuance of treasury stock	86,072
Contributions from noncontrolling interests in unconsolidated joint ventures		1,034
Distributions to noncontrolling interests in consolidated joint ventures	(3,000)	(275)
Payments of dividends	(37,074)	(16,699)
Net proceeds from derivatives	54,563	47,068
Repurchase of Series B-1 convertible preferred stock	(72,986)
Repurchases of treasury stock		(45,087)
Redemption of operating partnership units		(5,314)
Issuance of operating partnership units and other	970	54
Net cash used in financing activities	(75,305)	(135,232)
Net decrease in cash and cash equivalents	(36,804)	(93,048)
Cash and cash equivalents at beginning of period	217,690	165,168
Cash and cash equivalents at end of period	180,886	72,120
Supplemental Cash Flow Information
Interest paid	102,251	107,172
Income taxes paid	1,940	1,442
Supplemental Disclosure of Non-Cash Investing and Financing Activity
Accrued interest added to principal of indebtedness	3,234	3,016
Asset contributed to unconsolidated joint venture	15,000
Assets transferred to lender in deed-in-lieu of foreclosure		54,625
Liabilities transferred to lender in deed-in-lieu of foreclosure		$ 110,837