CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 355,519	$ 87,939	$ 70,001
Adjustments to reconcile net income to net cash provided by operating activities:
Bad debt expense	238	368	294
Gain on sale of assets, net	(242,234)	(5,292)	(51,632)
Loss on extinguishment of debt	2,964	4,638	3,159
Gain on redemption of note receivable	(939)
Gain on derivatives, net	(309)	(529)	(525)
Depreciation	160,405	152,581	131,793
Amortization of franchise fees and other intangibles	6,479	7,543	10,115
Amortization and write-off of deferred financing fees	3,148	2,777	2,957
Amortization of loan discounts			3
Amortization of deferred stock compensation	6,536	6,221	4,858
Changes in operating assets and liabilities:
Restricted cash	8,536	11,543	(11,688)
Accounts receivable	1,775	(1,532)	1,740
Inventories	44	100	1,524
Prepaid expenses and other assets	1,445	3,121	2,724
Accounts payable and other liabilities	4,619	7,273	7,001
Accrued payroll and employee benefits	(8,165)	1,844	(1,637)
Discontinued operations			432
Net cash provided by operating activities	300,061	278,595	171,119
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sales of hotel properties and other assets	565,115	110	195,628
Proceeds from redemption of note receivable	1,125
Restricted cash - replacement reserve	(2,642)	(4,311)	1,272
Acquisitions of hotel properties and other real estate		(276,558)	(450,544)
Renovations and additions to hotel properties and other assets	(164,232)	(125,975)	(117,694)
Payment for interest rate derivatives	(13)		(12)
Net cash provided by (used in) investing activities	399,353	(406,734)	(371,350)
CASH FLOWS FROM FINANCING ACTIVITIES
Redemptions of preferred stock			(276,250)
Proceeds from common stock offerings		284,390	566,451
Payment of common stock offering costs		(1,000)	(691)
Proceeds from notes payable and credit facility	123,000	178,250	35,750
Payments on notes payable and credit facility	(450,812)	(153,033)	(141,527)
Payments for costs related to extinguishment of notes payable	(1,245)	(4,051)	(3,108)
Payments of deferred financing costs	(5,861)	(2,346)	(243)
Dividends paid	(77,544)	(47,850)	(27,524)
Distributions to noncontrolling interests	(9,981)	(8,488)	(5,481)
Net cash (used in) provided by financing activities	(422,443)	245,872	147,377
Net increase (decrease) in cash and cash equivalents	276,971	117,733	(52,854)
Cash and cash equivalents, beginning of period	222,096	104,363	157,217
Cash and cash equivalents, end of period	499,067	222,096	104,363
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest	63,552	69,511	71,563
Cash paid for income taxes, net of refunds received	583	273	7,143
NONCASH INVESTING ACTIVITY
Accounts payable related to renovations and additions to hotel properties and other real estate	8,268	8,670	7,842
Amortization of deferred stock compensation - construction activities	580	474	393
NONCASH FINANCING ACTIVITY
Issuance of common stock dividends	37,349
Issuance of common stock in connection with acquisition of hotel property		60,000
Assumption of debt in connection with acquisition of hotel property			119,190
Dividends payable	$ 265,124	$ 76,694	$ 11,443