Combined Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Assets
Investment in hotel and other properties, net	$ 3,212,289	$ 3,073,483
Investment in loans	7,592	12,426
Cash and cash equivalents	343,526	115,861
Restricted cash reserves	53,802	64,787
Hotel and other receivables, net of allowance of $233 and $194, respectively	32,629	22,738
Deferred financing costs, net	12,283	11,131
Deferred income tax asset	2,488	2,206
Purchase deposits	7,996	9,910
Prepaid expense and other assets	33,050	33,843
Total assets	3,705,655	3,346,385
Liabilities and Equity
Borrowings under revolving credit facility	0	16,000
Mortgage loans	561,256	997,651
Term loans	850,000	400,000
Accounts payable and accrued expense	108,201	87,575
Deferred income tax liability	4,030	4,064
Advance deposits and deferred revenue	12,542	8,508
Accrued interest	2,514	2,284
Distributions payable	26,308	22,392
Total liabilities	1,564,851	1,538,474
Commitments and Contingencies (Note 11)
Shareholders’ equity:
Preferred shares of beneficial interest, $0.01 par value, 50,000,000 shares authorized; zero shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively.	0	0
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 122,687,633 and 106,565,516 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively.	1,227	1,066
Additional paid-in-capital	2,175,749	1,841,449
Accumulated other comprehensive loss	(11,429)	0
Distributions in excess of net earnings	(43,291)	(52,681)
Total shareholders’ equity	2,122,256	1,789,834
Noncontrolling interest
Noncontrolling interest in joint venture	7,087	6,766
Noncontrolling interest in Operating Partnership	11,461	11,311
Total noncontrolling interest	18,548	18,077
Total equity	2,140,804	1,807,911
Total liabilities and equity	$ 3,705,655	$ 3,346,385