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Investment in Hotel Properties (Tables)
 9 Months Ended
Sep. 30, 2012
Real Estate [Abstract]  
Schedule of Investment in hotel properties
Investment in hotel properties as of September 30, 2012 and December 31, 2011 consisted of the following (in thousands):
 
 
September 30,
2012
 
December 31, 2011
Land
$
234,383

 
$
190,197

Buildings and improvements
1,073,527

 
887,217

Furniture, fixtures and equipment
100,961

 
86,138

Construction in progress
5,747

 
—

Investment in hotel properties
$
1,414,618

 
$
1,163,552

Less: Accumulated depreciation
(66,119
)
 
(36,068
)
Investment in hotel properties, net
$
1,348,499

 
$
1,127,484