Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Room	$ 154,120	$ 120,934	$ 400,397	$ 306,887
Food and beverage	47,421	38,577	137,482	106,442
Other operating	14,780	10,165	39,560	29,513
Total revenues	216,321	169,676	577,439	442,842
Hotel operating expenses:
Room	33,706	27,807	92,671	75,561
Food and beverage	32,834	27,596	93,611	76,562
Other direct and indirect	56,750	43,879	160,213	121,763
Total hotel operating expenses	123,290	99,282	346,495	273,886
Depreciation and amortization	24,645	17,396	70,855	49,514
Real estate taxes, personal property taxes, property insurance, and ground rent	12,700	9,539	34,865	26,847
General and administrative	7,907	7,208	21,648	18,946
Hotel acquisition costs	16	475	4,481	996
Total operating expenses	168,558	133,900	478,344	370,189
Operating income (loss)	47,763	35,776	99,095	72,653
Interest income	630	645	1,886	1,880
Interest expense	(11,107)	(7,278)	(28,684)	(19,609)
Equity in earnings (loss) of joint venture	2,899	3,450	1,771	4,470
Income (loss) before income taxes	40,185	32,593	74,068	59,394
Income tax (expense) benefit	(1,937)	(2,154)	(2,067)	(1,941)
Net income (loss)	38,248	30,439	72,001	57,453
Net income (loss) attributable to non-controlling interests	129	274	248	537
Net income (loss) attributable to the Company	38,119	30,165	71,753	56,916
Distributions to preferred shareholders	(6,488)	(6,428)	(19,463)	(18,591)
Net income (loss) attributable to common shareholders	$ 31,631	$ 23,737	$ 52,290	$ 38,325
Net income (loss) per share available to common shareholders-basic (in dollars per share)	$ 0.44	$ 0.36	$ 0.72	$ 0.59
Net income (loss) per share available to common shareholders, diluted (in dollars per share)	$ 0.43	$ 0.36	$ 0.72	$ 0.59
Weighted-average number of common shares, basic (in shares)	71,735,129	64,859,494	71,709,380	64,133,134
Weighted-average number of common shares, diluted (in shares)	72,451,310	65,346,188	72,492,913	64,613,449
Comprehensive Income:
Net income (loss)	$ 38,248	$ 30,439	$ 72,001	$ 57,453
Other comprehensive income (loss):
Unrealized gain (loss) on derivative instruments	(10,631)	446	(10,723)	(132)
Comprehensive income (loss)	27,617	30,885	61,278	57,321
Comprehensive income (loss) attributable to non-controlling interests	94	278	213	536
Comprehensive income (loss) attributable to the Company	$ 27,523	$ 30,607	$ 61,065	$ 56,785