Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
ASSETS
Investment in hotel properties, net	$ 1,343,199	$ 1,149,967
Investment in hotel properties under development	186
Land held for development	13,748	13,748
Assets held for sale	7,860	12,224
Cash and cash equivalents	34,778	46,706
Restricted cash	35,306	38,498
Trade receivables	11,924	7,231
Prepaid expenses and other	6,172	8,876
Derivative financial instruments	218	253
Deferred charges, net	10,128	10,270
Deferred tax asset	119	49
Other assets	8,988	6,654
Total assets	1,472,626	1,294,476
Liabilities:
Debt	624,303	435,589
Accounts payable	5,032	7,583
Accrued expenses	42,302	27,154
Derivative financial instruments	1,626	1,772
Total liabilities	673,263	472,098
Commitments and contingencies (Note 7)
Preferred stock, $.01 par value per share, 100,000,000 shares authorized:
Common stock, $.01 par value per share, 500,000,000 shares authorized, 85,920,290 and 85,402,408 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively	859	854
Additional paid-in capital	885,830	882,858
Accumulated other comprehensive loss	(1,269)	(1,379)
Accumulated deficit and distributions	(93,736)	(72,577)
Total stockholders' equity	791,768	809,840
Noncontrolling interests in operating partnership	7,595	4,722
Noncontrolling interests in joint venture		7,816
Total equity	799,363	822,378
Total liabilities and equity	1,472,626	1,294,476
Series A preferred shares
Preferred stock, $.01 par value per share, 100,000,000 shares authorized:
Preferred stock	20	20
Series B preferred shares
Preferred stock, $.01 par value per share, 100,000,000 shares authorized:
Preferred stock	30	30
Series C preferred shares
Preferred stock, $.01 par value per share, 100,000,000 shares authorized:
Preferred stock	$ 34	$ 34