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Subsequent Events
12 Months Ended
Dec. 31, 2012
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS

On January 29, 2013, the Company acquired the 337-suite Embassy Suites San Diego Bay-Downtown located in San Diego, California for $112.5 million. The acquisition was funded with $45.7 million of available cash and the assumption of a $66.8 million first mortgage loan.
On January 30, 2013, the Board of Trustees granted an aggregate of 59,245 service condition restricted share awards to executive officers and employees of the Company. These service condition restricted shares will vest over approximately 3 to 5 years based on the terms of the award.
On January 30, 2013, the Board of Trustees granted 72,118 performance-based share awards to executive officers and employees of the Company. The actual number of common shares issuable under the performance-based share awards will be based on certain performance goals stipulated in the agreements over the period from January 1, 2013 through December 31, 2015 and will be determined in early 2016.