Consolidated Statements of Operations (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
REVENUE
Rooms	$ 165,623	$ 197,067	$ 491,542	$ 586,276
Food and beverage	25,268	34,444	82,521	117,328
Other hotel revenue	7,055	10,364	20,088	28,509
Total hotel revenue	197,946	241,875	594,151	732,113
Advisory services	3,127	0	9,266	0
Other	1,072	149	3,213	392
Total Revenue	202,145	242,024	606,630	732,505
Hotel operating expenses:
Rooms	37,547	45,079	108,640	132,310
Food and beverage	18,628	25,860	57,330	80,651
Other expenses	64,349	74,275	195,469	215,923
Management fees	7,838	9,888	23,734	30,467
Total hotel operating expenses	128,362	155,102	385,173	459,351
Property taxes, insurance, and other	10,451	12,474	29,052	36,385
Depreciation and amortization	28,421	32,777	81,262	98,099
Impairment charges	(105)	(101)	(310)	(296)
Transaction costs	533	126	616	1,296
Corporate, general, and administrative	15,104	13,465	47,290	42,680
Total Operating Expenses	182,766	213,843	543,083	637,515
OPERATING INCOME	19,379	28,181	63,547	94,990
Equity in earnings (loss) of unconsolidated entities	2,831	(10,105)	6,794	(14,626)
Interest income	27	12	45	61
Other income	2,564	314	5,841	6,446
Interest expense and amortization of loan costs	(29,449)	(36,625)	(85,896)	(108,031)
Write-off of loan costs and exit fees	(8,319)	0	(10,353)	(1,971)
Unrealized gain (loss) on marketable securities	(2,875)	257	(3,818)	2,039
Unrealized loss on derivatives	(70)	(817)	(680)	(7,177)
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(15,912)	(18,783)	(24,520)	(28,269)
Income tax expense	(292)	(619)	(820)	(1,688)
LOSS FROM CONTINUING OPERATIONS	(16,204)	(19,402)	(25,340)	(29,957)
Gain on sale of hotel property, net of tax	0	0	3,491	0
NET LOSS	(16,204)	(19,402)	(21,849)	(29,957)
Loss from consolidated entities attributable to noncontrolling interests	124	175	146	890
Net loss attributable to redeemable noncontrolling interests in operating partnership	2,585	2,892	4,234	5,152
NET LOSS ATTRIBUTABLE TO THE COMPANY	(13,495)	(16,335)	(17,469)	(23,915)
Preferred dividends	(8,490)	(8,490)	(25,471)	(25,471)
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	(21,985)	(24,825)	(42,940)	(49,386)
Basic:
Net loss attributable to common shareholders (in dollars per share)	$ (0.24)	$ (0.31)	$ (0.50)	$ (0.69)
Weighted average common shares outstanding – basic (in shares)	90,322	79,898	86,961	72,068
Diluted:
Net loss allocated to common shareholders per share	$ (0.24)	$ (0.31)	$ (0.50)	$ (0.69)
Weighted average common shares outstanding – diluted (in shares)	90,322	79,898	86,961	72,068
Dividends declared per common share (in dollars per share)	$ 0.12	$ 0.12	$ 0.36	$ 0.36
Amounts attributable to common shareholders:
Net loss attributable to the Company	(13,495)	(16,335)	(17,469)	(23,915)
Preferred dividends	(8,490)	(8,490)	(25,471)	(25,471)
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ (21,985)	$ (24,825)	$ (42,940)	$ (49,386)