CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
ASSETS
Investment in hotel properties, net	$ 1,082,395	$ 734,362
Investment in hotel properties under development	20,549	10,303
Land held for development	13,748	15,802
Assets held for sale	33,463	4,836
Cash and cash equivalents	45,474	13,980
Restricted cash	35,437	3,624
Trade receivables	9,685	5,478
Prepaid expenses and other	21,006	5,311
Derivative financial instruments	98
Deferred charges, net	9,543	8,895
Deferred tax asset	4,962	3,997
Other assets	3,442	4,201
TOTAL ASSETS	1,279,802	810,789
LIABILITIES
Debt	400,255	312,613
Accounts payable	9,276	5,013
Accrued expenses	30,767	18,985
Derivative financial instruments	2,047	641
TOTAL LIABILITIES	442,345	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, 83,451,814 and 46,159,652 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively	835	462
Additional paid-in capital	867,308	468,820
Accumulated other comprehensive income (loss)	(1,781)	(528)
Accumulated deficit and distributions	(56,963)	(31,985)
Total stockholders' equity	809,483	436,819
Noncontrolling interests in Operating Partnership	20,150	36,718
Noncontrolling interests in joint venture	7,824
TOTAL EQUITY	837,457	473,537
TOTAL LIABILITIES AND EQUITY	1,279,802	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