CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 222,096	$ 104,363
Restricted cash	82,074	89,306
Accounts receivable, net	34,227	29,941
Inventories	1,439	1,464
Prepaid expenses	14,909	12,612
Total current assets	354,745	237,686
Investment in hotel properties, net	3,538,129	3,231,382
Deferred financing fees, net	8,201	9,219
Goodwill	9,405	9,405
Other assets, net	14,485	21,106
Total assets	3,924,965	3,508,798
Current liabilities:
Accounts payable and accrued expenses	32,577	25,116
Accrued payroll and employee benefits	31,919	29,933
Dividends payable	76,694	11,443
Other current liabilities	36,466	30,288
Current portion of notes payable	121,328	23,289
Total current liabilities	298,984	120,069
Notes payable, less current portion	1,307,964	1,380,786
Capital lease obligations, less current portion	15,576	15,586
Other liabilities	33,607	39,958
Total liabilities	1,656,131	1,556,399
Commitments and contingencies (Note 13)
Preferred stock
Common stock, $0.01 par value, 500,000,000 shares authorized, 204,766,718 shares issued and outstanding at December 31, 2014 and 180,858,699 shares issued and outstanding at December 31, 2013	2,048	1,809
Additional paid in capital	2,418,567	2,068,721
Retained earnings	305,627	224,364
Cumulative dividends	(624,545)	(511,444)
Total stockholders' equity	2,216,697	1,898,450
Non-controlling interest in consolidated joint ventures	52,137	53,949
Total equity	2,268,834	1,952,399
Total liabilities and equity	3,924,965	3,508,798
Series D Cumulative Redeemable Preferred Stock
Preferred stock
Preferred stock 8.0% Cumulative Redeemable Preferred Stock	$ 115,000	$ 115,000