CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2013	Dec. 31, 2012
ASSETS
Investment in hotel properties, net	$ 1,149,967,000	$ 734,362,000
Investment in hotel properties under development		10,303,000
Land held for development	13,748,000	15,802,000
Assets held for sale	12,224,000	4,836,000
Cash and cash equivalents	46,706,000	13,980,000
Restricted cash	38,498,000	3,624,000
Trade receivables, net	7,231,000	5,478,000
Prepaid expenses and other	8,876,000	5,311,000
Derivative financial instruments	253,000
Deferred charges, net	10,270,000	8,895,000
Deferred tax asset	49,000	3,997,000
Other assets	6,654,000	4,201,000
TOTAL ASSETS	1,294,476,000	810,789,000
LIABILITIES
Debt	435,589,000	312,613,000
Accounts payable	7,583,000	5,013,000
Accrued expenses	27,154,000	18,985,000
Derivative financial instruments	1,772,000	641,000
TOTAL LIABILITIES	472,098,000	337,252,000
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, 85,402,408 and 46,159,652 shares issued and outstanding at December 31, 2013 and 2012, respectively	854,000	462,000
Additional paid-in capital	882,858,000	468,820,000
Accumulated other comprehensive income (loss)	(1,379,000)	(528,000)
Accumulated deficit and distributions	(72,577,000)	(31,985,000)
Total shareholders' equity	809,840,000	436,819,000
Noncontrolling interests in Operating Partnership	4,722,000	36,718,000
Noncontrolling interests in joint venture	7,816,000
TOTAL EQUITY	822,378,000	473,537,000
TOTAL LIABILITIES AND EQUITY	1,294,476,000	810,789,000
9.25% Series A Preferred Stock
Preferred stock, $.01 par value per share, 100,000,000 shares authorized:
Preferred stock	20,000	20,000
7.875% Series B Preferred Stock
Preferred stock, $.01 par value per share, 100,000,000 shares authorized:
Preferred stock	30,000	30,000
7.125% Series C Preferred Stock
Preferred stock, $.01 par value per share, 100,000,000 shares authorized:
Preferred stock	$ 34,000