CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Cash flows from operating activities:
Net income	$ 72,859	$ 80,634
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	145,878	125,640
Amortization of deferred financing costs and debt discounts as interest	3,036	2,954
Straight line rental income	(98)	(294)
Security deposits applied to payment shortfalls		(14,751)
FF&E reserve income and deposits	(14,311)	(10,785)
Loss on asset impairment	2,171	889
Equity in earnings of an investee	(155)	(121)
Deferred income taxes	(7,068)	(419)
Other non-cash (income) expense, net	(1,764)	1,069
Changes in assets and liabilities:
Increase in other assets	(19,736)	(9,529)
Increase (decrease) in accounts payable and other liabilities	(2,473)	5,809
Decrease in due to related persons	(6,435)	(663)
Cash provided by operating activities	171,904	180,433
Cash flows from investing activities:
Real estate acquisitions and deposits	(168,409)	(150,500)
Real estate improvements	(113,712)	(110,830)
FF&E reserve fundings	(29,720)	(40,454)
Cash used in investing activities	(311,841)	(301,784)
Cash flows from financing activities:
Proceeds from issuance of common shares, net	393,474
Proceeds from issuance of preferred shares, net		280,107
Proceeds from unsecured term loan		400,000
Proceeds from issuance of senior notes, net of discount	299,661
Redemption of preferred shares		(86,250)
Repayment of senior notes		(100,829)
Repurchase of convertible senior notes		(70,576)
Borrowings under revolving credit facility	245,000	378,000
Repayments of revolving credit facility	(475,000)	(527,000)
Deferred financing costs	(2,529)	(2,538)
Distributions to preferred shareholders	(16,194)	(21,910)
Distributions to common shareholders	(123,787)	(111,185)
Cash provided by financing activities	320,625	137,819
Increase in cash and cash equivalents	180,688	16,468
Cash and cash equivalents at beginning of period	20,049	8,303
Cash and cash equivalents at end of period	200,737	24,771
Supplemental cash flow information:
Cash paid for interest	66,407	67,430
Cash paid for income taxes	1,944	1,532
Non-cash investing activities:
Property managers' deposits in FF&E reserve	13,718	16,275
Property managers' purchases with FF&E reserve	(49,382)	(64,458)
Non-cash financing activities:
Issuance of common shares	$ 368	$ 1,134