CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
ASSETS
Investment in hotel properties, net	$ 1,112,608	$ 734,362
Investment in hotel properties under development	10,457	10,303
Land held for development	18,475	15,802
Assets held for sale	12,339	4,836
Cash and cash equivalents	34,413	13,980
Restricted cash	27,809	3,624
Trade receivables	11,728	5,478
Prepaid expenses and other	6,251	5,311
Derivative financial instruments	199
Deferred charges, net	9,696	8,895
Deferred tax asset	3,430	3,997
Other assets	4,137	4,201
TOTAL ASSETS	1,251,542	810,789
LIABILITIES
Debt	517,485	312,613
Accounts payable	7,469	5,013
Accrued expenses	26,973	18,985
Derivative financial instruments	19	641
TOTAL LIABILITIES	551,946	337,252
COMMITMENTS AND CONTINGENCIES
Preferred stock, $.01 par value per share, 100,000,000 shares authorized:
Common stock, $.01 par value per share, 450,000,000 shares authorized, 65,962,537 and 46,159,652 shares issued and outstanding at June 30, 2013 and December 31, 2012, respectively	660	462
Additional paid-in capital	706,370	468,820
Accumulated other comprehensive income (loss)	251	(528)
Accumulated deficit and distributions	(44,729)	(31,985)
Total stockholders' equity	662,636	436,819
Noncontrolling interests in Operating Partnership	29,408	36,718
Noncontrolling interests in joint venture	7,552
TOTAL EQUITY	699,596	473,537
TOTAL LIABILITIES AND EQUITY	1,251,542	810,789
9.25% Series A Preferred Stock
Preferred stock, $.01 par value per share, 100,000,000 shares authorized:
Preferred stock	20	20
7.875% Series B Preferred Stock
Preferred stock, $.01 par value per share, 100,000,000 shares authorized:
Preferred stock	30	30
7.125% Series C Preferred Stock
Preferred stock, $.01 par value per share, 100,000,000 shares authorized:
Preferred stock	$ 34