Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
OPERATING ACTIVITIES
Net income (loss)	$ 20,923	$ 5,897	$ (2,270)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	65,325	53,143	34,871
Amortization of prepaid lease	47	47	73
Loss on impairment of assets	9,247	9,044	2,965
Equity-based compensation	3,524	2,124	1,205
Deferred tax asset	(127)	3,948	(1,801)
Gain on disposal of assets	(446)	(4,308)	(2,811)
(Gain) loss on derivative financial instruments	1	(2)	2
Changes in operating assets and liabilities:
Restricted cash - operating	(631)	(1,309)	(69)
Trade receivables	(419)	(1,753)	(1,424)
Prepaid expenses and other	3,618	(3,654)	(1,043)
Accounts payable and accrued expenses	1,077	9,259	5,005
NET CASH PROVIDED BY OPERATING ACTIVITIES	102,139	72,436	34,703
INVESTING ACTIVITIES
Acquisitions of hotel properties	(177,820)	(441,573)	(216,892)
Acquisition of non-controlling interest in joint venture	(8,232)
Investment in hotel properties under development	(253)		(10,303)
Acquisition of land held for development		(2,800)
Improvements and additions to hotel properties	(42,432)	(53,222)	(29,396)
Amounts extended under note funding obligation	(7,366)
Purchases of office furniture and equipment		(398)	(210)
Proceeds from asset dispositions, net of closing costs	19,280	52,850	25,887
Restricted cash - FF&E reserve	16,275	(22,291)	(2,091)
NET CASH USED IN INVESTING ACTIVITIES	(200,548)	(467,434)	(233,005)
FINANCING ACTIVITIES
Proceeds from issuance of debt	263,601	587,245	130,659
Principal payments on debt	(115,829)	(497,801)	(82,312)
Financing fees on debt	(782)	(3,421)	(2,394)
Proceeds from equity offerings, net of offering costs		381,795	178,858
Proceeds from contribution by joint venture partner		7,500
Dividends paid	(56,550)	(47,594)	(23,066)
Other	(156)
NET CASH PROVIDED BY FINANCING ACTIVITIES	90,284	427,724	201,745
Net change in cash and cash equivalents	(8,125)	32,726	3,443
CASH AND CASH EQUIVALENTS
Beginning of period	46,706	13,980	10,537
End of period	38,581	46,706	13,980
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payments for interest	26,744	19,989	15,592
Capitalized interest	253	400	53
Cash payments for income taxes, net of refunds	926	681	433
Mortgage debt assumed for acquisitions of hotel properties	43,172	33,532	47,162
Fair value of common units issued for acquisition of hotel	$ 3,685