CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
OPERATING ACTIVITIES
Net income (loss)	$ 7,973	$ (1,521)
Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation and amortization	39,240	25,161
Amortization of prepaid lease	36	36
Loss on impairment of assets	8,654	2,098
Equity-based compensation	1,616	783
Deferred tax asset	(964)	(513)
(Gain) loss on disposal of assets	(888)	199
(Gain) loss on derivative financial instruments	(2)	2
Changes in operating assets and liabilities:
Restricted cash released (funded)	(2,882)	(265)
Trade receivables	(4,207)	(2,904)
Prepaid expenses and other	(15,694)	331
Accounts payable and accrued expenses	13,365	1,214
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	46,247	24,621
INVESTING ACTIVITIES
Acquisitions of hotel properties	(388,456)	(65,949)
Investment in hotel properties under development	(10,246)
Acquisition of land held for development	(2,800)
Improvements and additions to hotel properties	(33,840)	(17,984)
Purchases of office furniture and equipment	(599)
Proceeds from asset dispositions, net of closing costs	33,545	18,421
Restricted cash released (funded)	(19,623)	(2,546)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	(422,019)	(68,058)
FINANCING ACTIVITIES
Proceeds from issuance of debt	375,745	142,585
Principal payments on debt	(321,636)	(80,542)
Financing fees on debt	(2,484)	(2,020)
Proceeds from equity offerings, net of offering costs	389,389	(707)
Dividends paid and distributions to members	(33,748)	(16,129)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	407,266	43,187
Net change in cash and cash equivalents	31,494	(250)
CASH AND CASH EQUIVALENTS
Beginning of period	13,980	10,537
End of period	45,474	10,287
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payments for interest	14,639	11,637
Capitalized interest	246
Cash payments for income taxes, net of refunds	$ 683	$ 393