Consolidated Statements of Operations (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Revenues:
Room	$ 46,855	$ 25,559
Food and beverage	25,524	14,787
Other operating	5,095	2,319
Total revenues	77,474	42,665
Hotel operating expenses:
Room	13,493	7,641
Food and beverage	19,703	10,860
Other direct	2,751	1,161
Other indirect	22,146	13,076
Total hotel operating expenses	58,093	32,738
Depreciation and amortization	9,689	4,797
Real estate taxes, personal property taxes and property insurance	4,007	1,923
Ground rent	420	246
General and administrative	3,600	2,286
Hotel acquisition costs	238	1,726
Total operating expenses	76,047	43,716
Operating income (loss)	1,427	(1,051)
Interest income	6	473
Interest expense	(3,257)	(2,856)
Equity in loss of joint venture	(3,596)	0
Income (loss) before income taxes	(5,420)	(3,434)
Income tax (expense) benefit	2,583	390
Net income (loss)	(2,837)	(3,044)
Net income (loss) attributable to non-controlling interests	(46)	0
Net income (loss) attributable to the Company	(2,791)	(3,044)
Distributions to preferred shareholders	(4,456)	(547)
Net income (loss) attributable to common shareholders	$ (7,247)	$ (3,591)
Net income (loss) per share available to common shareholders, basic and diluted	$ (0.14)	$ (0.09)
Weighted-average number of common shares, basic	51,009,904	39,827,551
Weighted-average number of common shares, diluted	51,009,904	39,827,551