Consolidated Statements of Operations (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Revenues:
Room	$ 59,632	$ 45,601	$ 106,487	$ 71,160
Food and beverage	28,870	23,166	54,394	37,953
Other operating	5,665	4,343	10,760	6,662
Total revenues	94,167	73,110	171,641	115,775
Hotel operating expenses:
Room	14,983	11,866	28,476	19,507
Food and beverage	20,417	15,827	40,120	26,687
Other direct	2,955	1,922	5,706	3,083
Other indirect	23,792	19,860	45,938	32,936
Total hotel operating expenses	62,147	49,475	120,240	82,213
Depreciation and amortization	9,998	7,592	19,687	12,389
Real estate taxes, personal property taxes and property insurance	4,032	3,158	8,039	5,081
Ground rent	537	515	957	761
General and administrative	4,810	2,440	8,410	4,726
Hotel acquisition costs	588	1,715	826	3,441
Total operating expenses	82,112	64,895	158,159	108,611
Operating income (loss)	12,055	8,215	13,482	7,164
Interest income	23	293	29	766
Interest expense	(3,465)	(3,446)	(6,722)	(6,302)
Other	0	47	0	47
Equity in earnings (loss) of joint venture	3,080	0	(516)	0
Income (loss) before income taxes	11,693	5,109	6,273	1,675
Income tax (expense) benefit	(1,666)	(810)	917	(420)
Net income (loss)	10,027	4,299	7,190	1,255
Net income (loss) attributable to non-controlling interests	163	85	117	85
Net income (loss) attributable to the Company	9,864	4,214	7,073	1,170
Distributions to preferred shareholders	(4,457)	(2,461)	(8,913)	(3,008)
Net income (loss) attributable to common shareholders	$ 5,407	$ 1,753	$ (1,840)	$ (1,838)
Net income (loss) per share available to common shareholders, basic and diluted	$ 0.10	$ 0.03	$ (0.04)	$ (0.05)
Weighted-average number of common shares, basic	52,908,195	50,193,672	51,959,049	45,026,715
Weighted-average number of common shares, diluted	52,927,862	50,193,672	51,959,049	45,026,715