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Acquisition of Hotel Properties (Tables)
 12 Months Ended
Dec. 31, 2013
Business Combinations [Abstract]  
Schedule of Purchase Price Allocation
The allocation of fair value to the acquired assets and liabilities is as follows (in thousands).
 
2013 Acquisitions
 
2012 Acquisitions
Land
$
36,375

 
$
46,089

Buildings and improvements
269,312

 
225,368

Furniture, fixtures and equipment
12,931

 
9,469

Below (above) market rate contracts
2,826

 
(9,170
)
In place lease assets and intangibles
4,039

 
—

Capital improvement reserve
—

 
3,600

Mortgage debt
(90,448
)
 
(27,175
)
Net working capital
(266
)
 
(210
)
Net assets acquired
$
234,769

 
$
247,971
Business acquisition, unaudited proforma information
The unaudited pro forma results have been prepared for comparative purposes only and do not purport to be indicative of either the results of operations that would have actually occurred had these transactions occurred on January 1, 2012 and 2011 or the future results of operations (in thousands, except per-share data).
 
 
For the year ended December 31,
 
2013
 
2012
 
(Unaudited)
Total revenues
$
529,366

 
$
495,511

Operating income (loss)
70,491

 
59,428

Net income (loss) attributable to common shareholders
29,661

 
28,143

Net income (loss) per share available to common shareholders — basic
$
0.48

 
$
0.45

Net income (loss) per share available to common shareholders — diluted
$
0.47

 
$
0.45