Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenue:
Room	$ 67,698	$ 43,978	$ 122,729	$ 77,935
Food and beverage	1,355	585	2,522	1,213
Other	2,335	2,021	4,204	3,629
Cost reimbursements from unconsolidated real estate entities	869	493	1,717	1,165
Total revenue	72,257	47,077	131,172	83,942
Hotel operating expenses:
Room	12,755	8,802	23,696	16,557
Food and beverage	973	432	1,820	899
Telephone	416	285	825	572
Other hotel operating	661	507	1,188	950
General and administrative	5,330	3,847	9,971	7,274
Franchise and marketing fees	5,560	3,602	10,055	6,394
Advertising and promotions	1,192	859	2,411	1,689
Utilities	2,100	1,482	4,426	3,102
Repairs and maintenance	2,856	2,057	5,677	4,056
Management fees	2,197	1,396	4,013	2,490
Insurance	285	217	586	433
Total hotel operating expenses	34,325	23,486	64,668	44,416
Depreciation and amortization	12,063	7,365	23,586	13,680
Property taxes and insurance	4,254	2,809	8,339	5,458
General and administrative	2,156	2,364	5,583	4,686
Hotel property acquisition costs and other charges	524	5,559	784	7,041
Reimbursed costs from unconsolidated real estate entities	869	493	1,717	1,165
Total operating expenses	54,191	42,076	104,677	76,446
Operating income	18,066	5,001	26,495	7,496
Interest and other income	323	12	383	26
Interest expense, including amortization of deferred fees	(6,852)	(4,362)	(13,665)	(8,100)
Loss on early extinguishment of debt	0	0	0	(184)
Income (loss) from unconsolidated real estate entities	1,333	(2,000)	1,077	(2,316)
Net gain from remeasurement and sale of investment in unconsolidated real estate entities	0	66,701	0	66,701
Income before income tax expense	12,870	65,352	14,290	63,623
Income tax expense	(25)	(38)	(25)	(41)
Net income	12,845	65,314	14,265	63,582
Net income attributable to noncontrolling interests	(82)	(108)	(90)	(108)
Net income attributable to common shareholders	$ 12,763	$ 65,206	$ 14,175	$ 63,474
Income per Common Share - Basic:
Net income attributable to common shareholders (in dollars per share)	$ 0.33	$ 2.46	$ 0.37	$ 2.40
Income per Common Share - Diluted:
Net income attributable to common shareholders (in dollars per share)	$ 0.33	$ 2.44	$ 0.37	$ 2.38
Weighted average number of common shares outstanding:
Basic (in shares)	38,211,833	26,437,878	37,618,234	26,355,237
Diluted (in shares)	38,618,824	26,734,919	38,022,675	26,637,261
Distributions per common share: (in dollars per share)	$ 0.3	$ 0.24	$ 0.6	$ 0.45