XML 31 R43.htm IDEA: XBRL DOCUMENT v2.4.0.8
Debt (Details) (USD $)
3 Months Ended 9 Months Ended 9 Months Ended 1 Months Ended 0 Months Ended 9 Months Ended 9 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 1 Months Ended 3 Months Ended 9 Months Ended
Sep. 30, 2014
Hotels
Sep. 30, 2013
Sep. 30, 2014
Hotels
Sep. 30, 2013
Dec. 31, 2013
Sep. 30, 2014
Knickerbocker [Member]
Jul. 31, 2014
Libor Plus Two Point Five Percent Due July Two Thousand Seventeen [Member] [Member]
Jul. 25, 2014
Libor Plus Three Point Zero Percent Due March 2017 [Member]
Sep. 30, 2014
Line of Credit [Member]
Sep. 30, 2014
Line of Credit [Member]
Libor Plus Three Point Three Seven Five Percent Due June 2016 [Member]
Hotels
Dec. 31, 2013
Line of Credit [Member]
Libor Plus Three Point Three Seven Five Percent Due June 2016 [Member]
Sep. 30, 2014
Mortgages [Member]
Libor Plus Two Point Five Percent Due July Two Thousand Seventeen [Member] [Member]
Hotels
Dec. 31, 2013
Mortgages [Member]
Libor Plus Two Point Five Percent Due July Two Thousand Seventeen [Member] [Member]
Sep. 30, 2014
Mortgages [Member]
Libor Plus Three Point Zero Percent Due March 2017 [Member]
Hotels
Dec. 31, 2013
Mortgages [Member]
Libor Plus Three Point Zero Percent Due March 2017 [Member]
Sep. 30, 2014
Mortgages [Member]
Four Point Nine Five Percent Due October 2022 [Member]
Hotels
Dec. 31, 2013
Mortgages [Member]
Four Point Nine Five Percent Due October 2022 [Member]
Sep. 30, 2014
Mortgages [Member]
Four Point Nine Four Percent Due October 2022 [Member]
Hotels
Dec. 31, 2013
Mortgages [Member]
Four Point Nine Four Percent Due October 2022 [Member]
Sep. 30, 2014
Senior Notes [Member]
Six Point Seven Five Percent Due June 2019 [Member]
Hotels
Dec. 31, 2013
Senior Notes [Member]
Six Point Seven Five Percent Due June 2019 [Member]
Sep. 30, 2014
Senior Notes [Member]
Five Point Six Two Five Percent Due March 2023 [Member]
Hotels
Dec. 31, 2013
Senior Notes [Member]
Five Point Six Two Five Percent Due March 2023 [Member]
Sep. 30, 2014
Senior Notes [Member]
Ten Point Zero Zero Percent Due October 2014 [Member]
Hotels
Sep. 30, 2014
Construction tranche [Member]
Libor Plus Four Point Zero Percent Due May 2016 [Member]
Dec. 31, 2013
Construction tranche [Member]
Libor Plus Four Point Zero Percent Due May 2016 [Member]
Sep. 30, 2014
Cash collateralized tranche [Member]
Libor Plus One Point Two Five Percent Due May 2016 [Member]
Dec. 31, 2013
Cash collateralized tranche [Member]
Libor Plus One Point Two Five Percent Due May 2016 [Member]
Dec. 31, 2013
Retired Debt
Sep. 30, 2014
Knickerbocker Loan
Knickerbocker [Member]
Nov. 30, 2012
Knickerbocker Loan
Knickerbocker [Member]
Sep. 30, 2014
Knickerbocker Loan
Libor Plus Four Point Zero Percent Due May 2016 [Member]
Sep. 30, 2014
Knickerbocker Loan
Libor Plus One Point Two Five Percent Due May 2016 [Member]
May 31, 2014
Secured Debt [Member]
Apr. 30, 2014
Secured Debt [Member]
Hotels
Mar. 31, 2014
Secured Debt [Member]
Jan. 31, 2014
Secured Debt [Member]
Sep. 30, 2014
Secured Debt [Member]
Sep. 30, 2014
Secured Debt [Member]
Jul. 31, 2014
Secured Debt [Member]
Hotels
Debt Instrument [Line Items]                                                                                
Number of encumbered hotels (in hotels) 35   35             8   3   4   4   1   6   9                                    
Interest rate                               4.95%   4.94%   6.75%   5.625%   10.00%                                
Variable rate basis             LIBOR LIBOR   LIBOR   LIBOR   LIBOR                                   LIBOR LIBOR              
Variable rate basis spread             2.50% 3.00%   3.375%   2.50%   3.00%                                   4.00% 1.25%              
Long-term Debt $ 1,621,644,000   $ 1,621,644,000   $ 1,663,226,000         $ 146,500,000 $ 88,000,000 $ 140,000,000 $ 0 $ 64,000,000 $ 0 $ 124,930,000 $ 126,220,000 $ 31,353,000 $ 31,714,000 $ 525,000,000 $ 525,000,000 $ 525,000,000 $ 525,000,000   $ 44,577,000 $ 0 $ 20,284,000 $ 64,861,000 $ 302,431,000     $ 44,600,000 $ 20,300,000             $ 140,000,000
Remaining borrowing capacity of construction loan                                                           20,100,000                    
Maximum borrowing capacity of construction loan                                                             85,000,000                  
Credit facility, capacity                 225,000,000                                                              
Term of debt extension           1 year 2 years   1 year                                                              
Debt Instrument, Face Amount                                               234,000,000                                
Interest expense 21,922,000 25,796,000 71,644,000 78,457,000                                                                        
Interest income 13,000 15,000 41,000 60,000                                                                        
Capitalized interest 4,100,000 3,400,000 12,400,000 9,100,000                                                                        
Repayments of secured debt                                                                   19,200,000 15,600,000 17,100,000 10,900,000 9,600,000    
Number of hotels                                               11                     2         3
Debt extinguishment $ (4,730,000) $ 0 $ (4,763,000) $ 0                                       $ 3,800,000                           $ 914,000 $ 251,000