Consolidated Statements of Operations and Comprehensive Income (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Revenues:
Room	$ 68,596	$ 56,437	$ 175,083	$ 127,597
Food and beverage	29,236	25,627	83,630	63,580
Other operating	6,473	5,739	17,233	12,401
Total revenues	104,305	87,803	275,946	203,578
Hotel operating expenses:
Room	17,045	14,477	45,521	33,984
Food and beverage	21,716	18,736	61,836	45,423
Other direct	3,229	2,747	8,935	5,830
Other indirect	26,061	23,651	71,999	56,587
Total hotel operating expenses	68,051	59,611	188,291	141,824
Depreciation and amortization	11,055	9,037	30,742	21,426
Real estate taxes, personal property taxes and property insurance	4,571	3,860	12,610	8,941
Ground rent	651	589	1,608	1,350
General and administrative	3,886	3,527	12,296	8,253
Hotel acquisition costs	514	3,903	1,340	7,344
Total operating expenses	88,728	80,527	246,887	189,138
Operating income (loss)	15,577	7,276	29,059	14,440
Interest income	82	49	111	815
Interest expense	(3,949)	(3,775)	(10,671)	(10,077)
Other	0	38	0	85
Equity in earnings (loss) of joint venture	2,152	2,169	1,636	2,169
Income (loss) before income taxes	13,862	5,757	20,135	7,432
Income tax (expense) benefit	(1,757)	81	(840)	(339)
Net income (loss)	12,105	5,838	19,295	7,093
Net income (loss) attributable to non-controlling interests	187	114	304	199
Net income (loss) attributable to the Company	11,918	5,724	18,991	6,894
Distributions to preferred shareholders	(4,456)	(2,899)	(13,369)	(5,907)
Net income (loss) attributable to common shareholders	7,462	2,825	5,622	987
Net income (loss) per share available to common shareholders, basic and diluted (in dollars per share)	$ 0.13	$ 0.05	$ 0.10	$ 0.01
Weighted-average number of common shares, basic (in shares)	58,714,055	50,771,355	54,227,155	46,962,639
Weighted-average number of common shares, diluted (in shares)	58,760,334	50,771,355	54,314,469	46,962,639
Comprehensive Income:
Net income (loss)	12,105	5,838	19,295	7,093
Other comprehensive income (loss):
Unrealized gain (loss) on derivative instruments	(389)	0	(389)	0
Comprehensive income (loss)	11,716	5,838	18,906	7,093
Comprehensive income (loss) attributable to non-controlling interests	181	114	298	199
Comprehensive income (loss) attributable to the Company	$ 11,535	$ 5,724	$ 18,608	$ 6,894