CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Cash flows from operating activities:
Net income	$ 27,506	$ 42,948
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	72,280	61,363
Amortization of deferred financing costs and debt discounts as interest	1,512	1,578
Straight line rental income	(62)	(354)
Security deposits applied to payment shortfalls	(5,917)	(16,250)
FF&E reserve income and deposits	(6,845)	(7,865)
Loss on asset impairment		889
Equity in earnings of an investee	(76)	(45)
Other non-cash (income) expense, net	(1,100)	170
Changes in assets and liabilities:
Increase in other assets	(14,923)	(7,841)
Decrease in accounts payable and other liabilities	(24,146)	(13,010)
Decrease in due to related persons	(3,026)	(545)
Cash provided by operating activities	45,203	61,038
Cash flows from investing activities:
Real estate acquisitions		(150,500)
Real estate improvements	(49,364)	(50,205)
FF&E reserve fundings	(15,111)	(25,502)
Cash used in investing activities	(64,475)	(226,207)
Cash flows from financing activities:
Proceeds from issuance of common shares, net	393,473
Proceeds from issuance of preferred shares, net		280,108
Proceeds from unsecured term loan		400,000
Redemption of preferred shares		(86,250)
Repurchase of convertible senior notes		(70,576)
Borrowings under revolving credit facility	95,000	378,000
Repayments of revolving credit facility	(405,000)	(527,000)
Deferred financing costs		(2,432)
Distributions to preferred shareholders	(8,097)	(11,188)
Distributions to common shareholders	(58,110)	(55,585)
Cash provided by financing activities	17,266	305,077
Increase (decrease) in cash and cash equivalents	(2,006)	139,908
Cash and cash equivalents at beginning of period	20,049	8,303
Cash and cash equivalents at end of period	18,043	148,211
Supplemental cash flow information:
Cash paid for interest	55,064	54,938
Cash paid for income taxes	132	140
Non-cash investing activities:
Property managers' deposits in FF&E reserve	5,891	7,133
Property managers' purchases with FF&E reserve	(23,816)	(28,187)
Non-cash financing activities:
Issuance of common shares		$ 878