Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenue:
Room	$ 258,137	$ 184,926	$ 118,169
Food and beverage	5,536	2,764	1,311
Other	9,534	7,534	5,113
Cost reimbursements from unconsolidated real estate entities	3,743	1,992	1,635
Total revenue	276,950	197,216	126,228
Hotel operating expenses:
Room	50,165	37,516	25,709
Food and beverage	4,127	1,966	944
Telephone	1,708	1,304	899
Other hotel operating	2,467	2,056	1,580
General and administrative	21,101	16,265	11,529
Franchise and marketing fees	21,240	15,110	9,394
Advertising and promotions	5,040	3,676	2,782
Utilities	9,464	7,269	4,955
Repairs and maintenance	11,722	8,705	6,310
Management fees	8,742	6,096	3,752
Insurance	1,218	998	742
Total hotel operating expenses	136,994	100,961	68,596
Depreciation and amortization	48,981	34,710	18,249
Property taxes, ground rent and insurance	18,581	12,624	8,915
General and administrative	11,677	9,852	8,131
Hotel property acquisition costs and other charges	1,451	10,381	3,341
Reimbursable costs from unconsolidated real estate entities	3,743	1,992	1,635
Total operating expenses	221,427	170,520	108,867
Operating income	55,523	26,696	17,361
Interest and other income	264	108	132
Interest expense, including amortization of deferred fees	(27,924)	(21,354)	(11,580)
Loss on early extinguishment of debt	(412)	(184)	(933)
Income (loss) from unconsolidated real estate entities	2,411	(3,830)	(1,874)
Net gain from remeasurement and sales of investment in unconsolidated real estate entities	3,576	65,750	0
Income before income tax expense	33,438	67,186	3,106
Income tax expense	(260)	(105)	(124)
Net income	33,178	67,081	2,982
Net income attributable to non-controlling interest	(212)	(208)	0
Net income attributable to common shareholders	$ 32,966	$ 66,873	$ 2,982
Income per Common Share - Basic:
Net income attributable to common shareholders (in dollars per share)	$ 0.87	$ 2.32	$ 0.13
Income per Common Share - Diluted:
Net income attributable to common shareholders (in dollars per share)	$ 0.86	$ 2.30	$ 0.13
Weighted average number of common shares outstanding:
Basic (in shares)	37,917,871	28,531,094	21,035,892
Diluted (in shares)	38,322,285	28,846,724	21,283,831