Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Operating activities:
Net income (loss)	$ 43,192	$ 26,508	$ 15,199
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	55,570	42,794	30,945
Share-based compensation	5,222	4,215	2,654
Amortization of deferred financing costs and mortgage loan premiums	(259)	1,400	1,555
Non-cash ground rent	3,128	219	219
Equity in (earnings) loss from joint venture	(5,234)	(5,970)	(2,336)
Other	892	240	225
Changes in assets and liabilities:
Restricted cash, net	(1,266)	(1,547)	(408)
Hotel receivables	(3,343)	(1,321)	(6,426)
Prepaid expenses and other assets	(3,441)	2,679	(4,481)
Distributions from joint venture	1,617	0	0
Accounts payable and accrued expenses	8,051	7,740	10,715
Advance deposits	3,324	216	215
Net cash provided by (used in) operating activities	107,453	77,173	48,076
Investing activities:
Acquisition of hotel properties	(230,769)	(247,971)	(467,135)
Improvements and additions to hotel properties	(38,753)	(53,156)	(40,468)
Investment in joint venture, net	26,291	(105,277)	(169,430)
Deposit on hotel properties	0	(4,000)	0
Purchase of corporate office equipment, computer software, and furniture	(33)	(47)	(148)
Restricted cash, net	(3,182)	2,582	(4,576)
Property insurance proceeds	458	0	0
Net cash provided by (used in) investing activities	(245,988)	(407,869)	(681,757)
Financing activities:
Gross proceeds from issuance of common shares	79,362	221,579	235,980
Gross proceeds from issuance of preferred shares	100,000	0	225,150
Payment of offering costs - common and preferred shares	(3,787)	(6,708)	(17,243)
Payment of deferred financing costs	(650)	(3,765)	(2,324)
Contributions from non-controlling interest	0	0	95
Borrowings under senior credit facility	0	120,000	42,000
Repayments under senior credit facility	0	(120,000)	(42,000)
Proceeds from term loan	0	100,000	0
Proceeds from mortgage debt	0	224,000	67,000
Repayments of mortgage debt	(8,099)	(136,704)	(1,031)
Repurchase of common shares	(523)	(321)	(140)
Redemption of non-controlling interests	0	(2,342)	0
Distributions - common shares/units	(36,969)	(27,002)	(22,244)
Distributions - preferred shares	(21,563)	(17,825)	(6,600)
Net cash provided by (used in) financing activities	107,771	350,912	478,643
Net change in cash and cash equivalents	(30,764)	20,216	(155,038)
Cash and cash equivalents, beginning of year	85,900	65,684	220,722
Cash and cash equivalents, end of year	$ 55,136	$ 85,900	$ 65,684