Consolidated Statements of Operations and Comprehensive Income (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Revenues:
Room	$ 83,569	$ 67,139
Food and beverage	32,448	31,163
Other operating	9,695	6,612
Total revenues	125,712	104,914
Hotel operating expenses:
Room	22,895	18,858
Food and beverage	23,810	24,058
Other direct	3,471	3,276
Other indirect	34,416	28,852
Total hotel operating expenses	84,592	75,044
Depreciation and amortization	15,888	13,211
Real estate taxes, personal property taxes and property insurance	6,723	5,591
Ground rent	1,585	922
General and administrative	6,147	4,339
Hotel acquisition costs	285	920
Total operating expenses	115,220	100,027
Operating income (loss)	10,492	4,887
Interest income	614	634
Interest expense	(6,075)	(5,458)
Equity in earnings (loss) of joint venture	(3,244)	(2,907)
Income (loss) before income taxes	1,787	(2,844)
Income tax (expense) benefit	2,334	2,598
Net income (loss)	4,121	(246)
Net income (loss) attributable to non-controlling interests	43	2
Net income (loss) attributable to the Company	4,078	(248)
Distributions to preferred shareholders	(6,081)	(4,668)
Net income (loss) attributable to common shareholders	(2,003)	(4,916)
Net income (loss) per share available to common shareholders, basic and diluted (in dollars per share)	$ (0.03)	$ (0.08)
Weighted-average number of common shares, basic (in shares)	63,762,930	60,996,196
Weighted-average number of common shares, diluted (in shares)	63,762,930	60,996,196
Comprehensive Income:
Net income (loss)	4,121	(246)
Unrealized gain (loss) on derivative instruments	(116)	105
Comprehensive income (loss)	4,005	(141)
Comprehensive income (loss) attributable to non-controlling interests	42	3
Comprehensive income (loss) attributable to the Company	$ 3,963	$ (144)