Consolidated Statements of Operations and Comprehensive Income (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Revenues:
Room	$ 321,630	$ 239,218	$ 177,479
Food and beverage	136,531	117,752	92,898
Other operating	31,056	23,718	17,610
Total revenues	489,217	380,688	287,987
Hotel operating expenses:
Room	83,390	63,213	47,570
Food and beverage	100,244	86,369	65,783
Other direct	14,037	12,236	8,353
Other indirect	126,527	99,766	79,648
Total hotel operating expenses	324,198	261,584	201,354
Depreciation and amortization	55,570	42,794	30,945
Real estate taxes, personal property taxes and property insurance	23,498	17,576	12,895
Ground rent	7,554	2,611	1,814
General and administrative	17,166	16,777	11,460
Hotel acquisition costs	3,376	2,234	3,392
Total operating expenses	431,362	343,576	261,860
Operating income (loss)	57,855	37,112	26,127
Interest income	2,620	224	868
Interest expense	(23,680)	(14,932)	(13,653)
Other	0	0	85
Equity in earnings (loss) of joint venture	7,623	5,970	2,336
Income (loss) before income taxes	44,418	28,374	15,763
Income tax (expense) benefit	(1,226)	(1,866)	(564)
Net income (loss)	43,192	26,508	15,199
Net income (loss) attributable to non-controlling interests	274	429	343
Net income (loss) attributable to the Company	42,918	26,079	14,856
Distributions to preferred shareholders	(22,953)	(17,825)	(10,413)
Net income (loss) attributable to common shareholders	19,965	8,254	4,443
Net income (loss) per share available to common shareholders, basic and diluted (in dollars per share)	$ 0.32	$ 0.14	$ 0.08
Weighted-average number of common shares, basic (in shares)	61,498,389	55,806,543	47,921,200
Weighted-average number of common shares, diluted (in shares)	61,836,741	55,955,497	47,966,307
Comprehensive Income:
Net income (loss)	43,192	26,508	15,199
Other comprehensive income (loss):
Unrealized gain (loss) on derivative instruments	1,386	(300)	0
Comprehensive income (loss)	44,578	26,208	15,199
Comprehensive income (loss) attributable to non-controlling interests	287	427	343
Comprehensive income (loss) attributable to the Company	$ 44,291	$ 25,781	$ 14,856