Consolidated Statements of Operations (Unaudited) (USD $) In Thousands, except Share data	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Revenues:
Room	$ 45,601	$ 1,360	$ 71,160	$ 1,360
Food and beverage	23,166	770	37,953	770
Other operating	4,343	86	6,662	86
Total revenues	73,110	2,216	115,775	2,216
Hotel operating expenses:
Room	11,866	298	19,507	298
Food and beverage	15,827	405	26,687	405
Other direct	1,922	41	3,083	41
Other indirect	19,860	645	32,936	645
Total hotel operating expenses	49,475	1,389	82,213	1,389
Depreciation and amortization	7,592	223	12,389	228
Real estate taxes, personal property taxes and property insurance	3,158	73	5,081	73
Ground rent	515		761
General and administrative	2,440	2,156	4,726	3,642
Hotel acquisition costs	1,715	3,061	3,441	3,146
Total operating expenses	64,895	6,902	108,611	8,478
Operating income (loss)	8,215	(4,686)	7,164	(6,262)
Interest income	293	898	766	1,875
Interest expense	(3,446)		(6,302)
Other	47		47
Income (loss) before income taxes	5,109	(3,788)	1,675	(4,387)
Income tax (expense) benefit	(810)	(26)	(420)	(26)
Net income (loss)	4,299	(3,814)	1,255	(4,413)
Net income (loss) attributable to non-controlling interests	85		85
Net income (loss) attributable to the Company	4,214	(3,814)	1,170	(4,413)
Distributions to preferred shareholders	(2,461)		(3,008)
Net income (loss) attributable to common shareholders	$ 1,753	$ (3,814)	$ (1,838)	$ (4,413)
Net income (loss) per share attributable to common shareholders, basic and diluted	$ 0.03	$ (0.19)	$ (0.05)	$ (0.22)
Weighted-average number of common shares, basic and diluted	50,193,672	20,260,590	45,026,715	20,260,319