Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Assets:
Investment in hotel properties, net	$ 1,096,425	$ 652,877
Cash and cash equivalents	15,077	4,221
Restricted cash	12,030	4,605
Investment in unconsolidated real estate entities	28,152	774
Hotel receivables (net of allowance for doubtful accounts of $71 and $30, respectively)	3,601	2,455
Deferred costs, net	7,514	7,113
Prepaid expenses and other assets	2,300	1,879
Total assets	1,165,099	673,924
Liabilities and Equity:
Mortgage debt	527,721	222,063
Revolving credit facility	22,500	50,000
Accounts payable and accrued expenses	20,042	12,799
Distributions and losses in excess of investments of unconsolidated real estate entities	0	1,576
Distributions payable	2,884	1,950
Total liabilities	573,147	288,388
Commitments and contingencies
Shareholders’ Equity:
Preferred shares, $0.01 par value, 100,000,000 shares authorized and unissued at December 31, 2014 and 2013	0	0
Common shares, $0.01 par value, 500,000,000 shares authorized; 34,173,691 and 26,295,558 shares issued and outstanding at December 31, 2014 and 2013, respectively	339	261
Additional paid-in capital	599,318	433,900
Accumulated deficit	(11,120)	(50,792)
Total shareholders’ equity	588,537	383,369
Noncontrolling Interests:
Noncontrolling interest in operating partnership	3,415	2,167
Total equity	591,952	385,536
Total liabilities and equity	$ 1,165,099	$ 673,924