Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Operating activities:
Net income (loss)	$ 26,508	$ 15,199	$ (6,642)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	42,794	30,945	5,776
Share-based compensation	4,215	2,654	2,042
Amortization of deferred financing costs and mortgage loan premium	1,400	1,555	415
Amortization of ground lease	219	219	69
Equity in earnings (loss) from joint venture	(5,970)	(2,336)	0
Other	240	225	80
Changes in assets and liabilities:
Restricted cash, net	(1,547)	(408)	(1,886)
Hotel receivables	(1,321)	(6,426)	(2,712)
Prepaid expenses and other assets	2,679	(4,481)	(4,192)
Accounts payable and accrued expenses	7,740	10,715	10,491
Advance deposits	216	215	13
Net cash provided by (used in) operating activities	77,173	48,076	3,454
Investing activities:
Acquisition of hotel properties	(247,971)	(467,135)	(518,730)
Improvements and additions to hotel properties	(53,156)	(40,468)	(3,307)
Investment in joint venture	(105,277)	(169,430)	0
Deposit on hotel properties	(4,000)	0	(5,000)
Redemption of certificates of deposits	0	0	70,000
Purchase of corporate office equipment, software, and furniture	(47)	(148)	(497)
Restricted cash, net	2,582	(4,576)	(2,600)
Net cash provided by (used in) investing activities	(407,869)	(681,757)	(460,134)
Financing activities:
Gross proceeds from issuance of common shares	221,579	235,980	332,350
Gross proceeds from issuance of preferred shares	0	225,150	0
Payment of offering costs - common and preferred shares	(6,708)	(17,243)	(23,434)
Payment of deferred financing costs	(3,765)	(2,324)	(3,133)
Contributions from non-controlling interest	0	95	0
Borrowings under senior credit facility	120,000	42,000	0
Repayments under senior credit facility	(120,000)	(42,000)	0
Proceeds from term loan	100,000	0	0
Proceeds from mortgage debt	224,000	67,000	52,500
Repayments of mortgage debt	(136,704)	(1,031)	0
Repurchase of common shares	(321)	(140)	0
Redemption of non-controlling interests	(2,342)	0	0
Distributions - common shares/units	(27,002)	(22,244)	0
Distributions - preferred shares	(17,825)	(6,600)	0
Net cash provided by (used in) financing activities	350,912	478,643	358,283
Net change in cash and cash equivalents	20,216	(155,038)	(98,397)
Cash and cash equivalents, beginning of year	65,684	220,722	319,119
Cash and cash equivalents, end of period	$ 85,900	$ 65,684	$ 220,722