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Condensed Consolidated Statements of Cash Flows (USD $)
6 Months Ended
Jun. 15, 2012
Jun. 17, 2011
Cash flows from operating activities:    
Net income (loss) $ 11,559,000 $ (11,599,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Real estate depreciation 41,089,000 43,034,000
Corporate asset depreciation as corporate expenses 44,000 39,000
Gain on sale of properties, net of tax (10,017,000) 0
Gain on early extinguishment of debt (144,000) 0
Non-cash ground rent 3,107,000 3,221,000
Non-cash financing costs, debt premium and interest rate cap as interest 1,681,000 764,000
Impairment of favorable lease asset 468,000 0
Amortization of unfavorable contract liabilities (864,000) (852,000)
Amortization of deferred income (426,000) (403,000)
Stock-based compensation 2,262,000 2,301,000
Payment of Los Angeles Airport Marriott litigation settlement (1,709,000) 0
Changes in assets and liabilities:    
Prepaid expenses and other assets (1,723,000) (2,852,000)
Restricted cash (1,975,000) (2,794,000)
Due to/from hotel managers (15,945,000) (7,590,000)
Accounts payable and accrued expenses (8,567,000) (4,929,000)
Net cash provided by operating activities 18,840,000 18,340,000
Cash flows from investing activities:    
Hotel capital expenditures (15,171,000) (21,345,000)
Hotel acquisitions 0 (366,792,000)
Net proceeds from sale of properties 92,631,000 0
Cash received from mortgage loan 303,000 605,000
Change in restricted cash (5,819,000) (15,762,000)
Purchase deposits (1,898,000) (22,300,000)
Receipt of deferred key money 241,000 1,768,000
Net cash provided by (used in) investing activities 70,287,000 (423,826,000)
Cash flows from financing activities:    
Scheduled mortgage debt principal payments (5,371,000) (3,637,000)
Repurchase of common stock (2,946,000) (3,095,000)
Proceeds from sale of common stock, net 0 149,674,000
Proceeds from mortgage debt 170,368,000 100,000,000
Repayment of mortgage debt (26,963,000) 0
Draw on senior unsecured credit facility 40,000,000 115,000,000
Repayments of senior unsecured credit facility (140,000,000) 0
Payment of financing costs (4,375,000) (2,234,000)
Purchase of interest rate cap (934,000) 0
Payment of cash dividends (40,373,000) (13,505,000)
Net cash (used in) provided by financing activities (10,594,000) 342,203,000
Net increase (decrease) in cash and cash equivalents 78,533,000 (63,283,000)
Cash and cash equivalents, beginning of period 26,291,000 84,201,000
Cash and cash equivalents, end of period 104,824,000 20,918,000
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest 27,733,000 24,426,000
Cash paid for income taxes 1,153,000 629,000
Capitalized interest 543,000 548,000
Non-cash Financing Activities:    
Assumption of mortgage debt 0 43,879,000
Unpaid dividends 155,000 13,549,000
Buyer assumption of mortgage debt on sale of hotels $ 180,000,000 $ 0