CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands	6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 90,264	$ (20,783)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Bad debt expense (recovery)	87	(34)
Gain on sale of hotel properties and other assets, net	(14,074)
Gain on remeasurement of equity interests	(69,230)
Gain on extinguishment of debt	(18,145)	(6,747)
Loss on derivatives, net	1,004
Depreciation	56,988	50,048
Amortization of franchise fees and other intangibles	5,780	285
Amortization and write-off of deferred financing fees	1,431	2,650
Amortization of loan discounts	522	491
Amortization of deferred stock compensation	1,473	1,648
Property and goodwill impairment losses	1,495	1,943
Equity in earnings of unconsolidated joint ventures	(21)	(275)
Changes in operating assets and liabilities:
Restricted cash	16,511	(31,279)
Accounts receivable	(8,417)	(3,142)
Due from affiliates	41	28
Inventories	(16)	167
Prepaid expenses and other assets	5,064	2,694
Accounts payable and other liabilities	4,502	13,887
Accrued payroll and employee benefits	(1,426)	396
Due to Third-Party Managers	(1,618)	(72)
Discontinued operations	2,058	(13,883)
Net cash provided by (used in) operating activities	74,273	(1,978)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sale of hotel properties and other assets	39,929
Cash received from unconsolidated joint ventures		300
Restricted cash - replacement reserve	(6,628)	(1,739)
Acquisitions of notes receivable		(3,700)
Acquisitions of hotel properties	(263,264)
Renovations and additions to hotel properties and other real estate	(64,700)	(17,123)
Net cash used in investing activities	(294,663)	(22,262)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from preferred stock offering	115,000
Payment of preferred stock offering costs	(4,062)
Proceeds from note payable	240,000
Payments on notes payable	(246,603)	(114,450)
Payments of deferred financing costs and interest rate derivatives	(4,963)	(4)
Dividends paid	(10,274)	(10,274)
Distributions to non-controlling interest	(14)
Net cash provided by (used in) financing activities	89,084	(124,728)
Net decrease in cash and cash equivalents	(131,306)	(148,968)
Cash and cash equivalents, beginning of period	276,034	353,120
Cash and cash equivalents, end of period	144,728	204,152
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest	35,155	32,734
NONCASH INVESTING ACTIVITY
Accounts payable related to renovations and additions to hotel properties and other real estate	9,491	2,107
Deconsolidation of assets of hotel placed into receivership		18,374
Deconsolidation of liabilities of hotel placed into receivership		26,854
Amortization of deferred stock compensation - construction activities	128	90
Amortization of deferred stock compensation - unconsolidated joint venture	2	17
NONCASH FINANCING ACTIVITY
Receipt of note receivable	90,000
Assumption of debt in connection with acquisitions of hotel properties	545,952
Dividends payable	$ 7,310	$ 5,137