Consolidated Statements of Operations and Comprehensive Income (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Revenues:
Room	$ 67,139	$ 46,855
Food and beverage	31,163	25,524
Other operating	6,612	5,095
Total revenues	104,914	77,474
Hotel operating expenses:
Room	18,858	13,493
Food and beverage	24,058	19,703
Other direct	3,276	2,751
Other indirect	28,852	22,146
Total hotel operating expenses	75,044	58,093
Depreciation and amortization	13,211	9,689
Real estate taxes, personal property taxes and property insurance	5,591	4,007
Ground rent	922	420
General and administrative	4,339	3,600
Hotel acquisition costs	920	238
Total operating expenses	100,027	76,047
Operating income (loss)	4,887	1,427
Interest income	634	6
Interest expense	(5,458)	(3,257)
Other	0	0
Equity in earnings (loss) of joint venture	(2,907)	(3,596)
Income (loss) before income taxes	(2,844)	(5,420)
Income tax (expense) benefit	2,598	2,583
Net income (loss)	(246)	(2,837)
Net income (loss) attributable to non-controlling interests	2	(46)
Net income (loss) attributable to the Company	(248)	(2,791)
Distributions to preferred shareholders	(4,668)	(4,456)
Net income (loss) attributable to common shareholders	(4,916)	(7,247)
Net income (loss) per share available to common shareholders, basic and diluted (in dollars per share)	$ (0.08)	$ (0.14)
Weighted-average number of common shares, basic (in shares)	60,996,196	51,009,904
Weighted-average number of common shares, diluted (in shares)	60,996,196	51,009,904
Comprehensive Income:
Net income (loss)	(246)	(2,837)
Other comprehensive income (loss):
Unrealized gain (loss) on derivative instruments	105	0
Comprehensive income (loss)	(141)	(2,837)
Comprehensive income (loss) attributable to non-controlling interests	3	(46)
Comprehensive income (loss) attributable to the Company	$ (144)	$ (2,791)