Debt (Tables)

6 Months Ended

Jun. 30, 2013

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

Consolidated debt consisted of the following (dollars in thousands):

	Encumbered	Interest	Maturity	June 30,		December 31,
	Hotels	Rate (%)	Date	2013		2012
Line of credit	9	L + 3.375	June 2016(a)	$	117,000	$	56,000
Hotel mortgage debt
Mortgage debt(b)	5	6.66	June - August 2014	64,396		65,431
Mortgage debt	1	5.81	July 2016	10,157		10,405
Mortgage debt(b)	4	4.95	October 2022	127,289		128,066
Mortgage debt	1	4.94	October 2022	31,945		32,176
Senior notes
Senior secured notes	11	10.00	October 2014	226,298		223,586
Senior secured notes	6	6.75	June 2019	525,000		525,000
Senior secured notes	10	5.625	March 2023	525,000		525,000
Other(c)	—	L + 1.25	May 2016	64,861		64,861
Total	47			$	1,691,946	$	1,630,525

(a) Our $225 million line of credit can be extended for one year (to 2017), subject to satisfying certain conditions.

(b) This debt is comprised of separate non-cross-collateralized loans each secured by a mortgage of a different hotel.

(c) This loan is related to our Knickerbocker development project and is fully secured by restricted cash and a mortgage. Because we were able to assume an existing loan when we purchased this hotel, we were not required to pay any local mortgage recording tax. This loan, which allows us to borrow up to $85 million, can be extended for one year subject to satisfying certain conditions.