CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
OPERATING ACTIVITIES
Net income (loss)	$ 5,897	$ (2,270)	$ (10,384)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	53,143	34,871	29,808
Amortization of prepaid lease	47	73	47
Loss on impairment of assets	9,044	2,965
Equity-based compensation	2,124	1,205	480
Deferred tax asset	3,948	(1,801)	(2,196)
(Gain) loss on disposal of assets	(4,308)	(2,811)	36
(Gain) loss on derivative financial instruments	(2)	2
Changes in operating assets and liabilities:
Restricted cash released (funded)	(1,309)	(69)	785
Trade receivables	(1,753)	(1,424)	(394)
Prepaid expenses and other	(3,654)	(1,043)	1,637
Accounts payable and accrued expenses	9,259	5,005	4,327
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	72,436	34,703	24,146
INVESTING ACTIVITIES
Acquisitions of hotel properties	(441,573)	(216,892)	(50,017)
Investment in hotel properties under development		(10,303)
Acquisition of land held for development	(2,800)
Improvements and additions to hotel properties	(53,222)	(29,396)	(33,514)
Purchases of office furniture and equipment	(398)	(210)
Proceeds from asset dispositions, net of closing costs	52,850	25,887	361
Restricted cash released (funded)	(22,291)	(2,091)	(316)
NET CASH (USED IN) INVESTING ACTIVITIES	(467,434)	(233,005)	(83,486)
FINANCING ACTIVITIES
Proceeds from issuance of debt	587,245	130,659	65,383
Principal payments on debt	(497,801)	(82,312)	(268,716)
Financing fees on debt	(3,421)	(2,394)	(4,276)
Proceeds from equity offerings, net of offering costs	381,795	178,858	288,716
Proceeds from contribution by joint venture partner	7,500
Dividends paid and distributions to members	(47,594)	(23,066)	(19,207)
NET CASH PROVIDED BY FINANCING ACTIVITIES	427,724	201,745	61,900
Net change in cash and cash equivalents	32,726	3,443	2,560
CASH AND CASH EQUIVALENTS
Beginning of period	13,980	10,537	7,977
End of period	46,706	13,980	10,537
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payments for interest	19,989	15,592	18,852
Capitalized interest	400	53
Cash payments for income taxes, net of refunds	$ 681	$ 433	$ 163