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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
REVENUES      
Room $ 572,289 $ 418,943 $ 401,920
Food and beverage 196,524 159,365 157,219
Other operating 65,916 46,236 50,173
Total revenues 834,729 624,544 609,312
OPERATING EXPENSES      
Room 144,334 107,788 100,578
Food and beverage 143,120 116,856 115,246
Other operating 26,092 23,265 23,579
Advertising and promotion 41,952 32,225 31,545
Repairs and maintenance 33,766 27,161 26,819
Utilities 31,014 24,527 24,429
Franchise costs 29,115 21,474 20,658
Property tax, ground lease and insurance 63,423 40,980 42,820
Property general and administrative 98,642 74,535 71,019
Corporate overhead 25,746 21,971 25,227
Depreciation and amortization 127,945 92,374 92,457
Impairment loss 10,862 1,943 30,852
Total operating expenses 776,011 585,099 605,229
Operating income 58,718 39,445 4,083
Equity in net earnings (losses) of unconsolidated joint ventures 21 555 (27,801)
Interest and other income 3,118 111 1,388
Interest expense (82,965) (70,174) (75,869)
Gain on remeasurement of equity interests 69,230    
Gain on extinguishment of debt     54,506
Income (loss) from continuing operations 48,122 (30,063) (43,693)
Income (loss) from discontinued operations 33,177 68,605 (225,915)
NET INCOME (LOSS) 81,299 38,542 (269,608)
Income from consolidated joint venture attributable to non-controlling interest (312)    
Distributions to non-controlling interest (30)    
Dividends paid on unvested restricted stock compensation     (447)
Preferred stock dividends and accretion (27,321) (20,652) (20,749)
Undistributed income allocated to unvested restricted stock compensation (636) (102)  
INCOME AVAILABLE (LOSS ATTRIBUTABLE) TO COMMON STOCKHOLDERS $ 53,000 $ 17,788 $ (290,804)
Basic per share amounts:      
Income (loss) from continuing operations available (attributable) to common stockholders (in dollars per share) $ 0.17 $ (0.51) $ (0.93)
Income (loss) from discontinued operations (in dollars per share) $ 0.28 $ 0.69 $ (3.24)
Basic income available (loss attributable) to common stockholders per common share (in dollars per share) $ 0.45 $ 0.18 $ (4.17)
Diluted per share amounts:      
Income (loss) from continuing operations available (attributable) to common stockholders (in dollars per share) $ 0.17 $ (0.51) $ (0.93)
Income (loss) from discontinued operations (in dollars per share) $ 0.28 $ 0.69 $ (3.24)
Diluted income available (loss attributable) to common stockholders per common share (in dollars per share) $ 0.45 $ 0.18 $ (4.17)
Weighted average common shares outstanding:      
Basic (in shares) 117,206 99,709 69,820
Diluted (in shares) 117,206 99,709 69,820