CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Cash flows from operating activities:
Net income	$ 100,426	$ 125,292
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	221,926	192,206
Amortization of deferred financing costs and debt discounts as interest	4,620	4,648
Straight line rental income	(272)	(243)
Security deposits replenished (applied to payment shortfalls)	1,355	(17,493)
FF&E reserve income and deposits	(22,458)	(16,631)
Loss on asset impairment	8,008	889
Equity in earnings of an investee	(219)	(236)
Gain on sale of real estate		(10,602)
Deferred income taxes	(7,094)	(643)
Other non-cash (income) expense, net	(1,044)	161
Changes in assets and liabilities:
Increase in other assets	(7,791)	(5,679)
Decrease in accounts payable and other liabilities	(21,806)	(15,354)
Increase (decrease) in due to related persons	(10,433)	8,347
Cash provided by operating activities	265,218	264,662
Cash flows from investing activities:
Real estate acquisitions and deposits	(214,607)	(150,500)
Real estate improvements	(198,165)	(195,089)
FF&E reserve fundings	(40,606)	(67,652)
Net proceeds from sale of real estate		34,204
Cash used in investing activities	(453,378)	(379,037)
Cash flows from financing activities:
Proceeds from issuance of common shares, net	393,475
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	491,975
Redemption of preferred shares	(167,500)	(236,250)
Repayment of senior notes		(387,829)
Repurchase of convertible senior notes		(70,576)
Borrowings under revolving credit facility	418,000	378,000
Repayments of revolving credit facility	(545,000)	(527,000)
Deferred financing costs	(2,545)	(6,394)
Distributions to preferred shareholders	(21,394)	(32,048)
Distributions to common shareholders	(189,468)	(166,789)
Cash provided by financing activities	185,229	123,196
Increase (decrease) in cash and cash equivalents	(2,931)	8,821
Cash and cash equivalents at beginning of period	20,049	8,303
Cash and cash equivalents at end of period	17,118	17,124
Supplemental cash flow information:
Cash paid for interest	120,753	120,153
Cash paid for income taxes	1,945	1,535
Non-cash investing activities:
Hotel managers' deposits in FF&E reserve	22,084	17,452
Hotel managers' purchases with FF&E reserve	(73,101)	(101,381)
Non-cash financing activities:
Issuance of common shares	$ 2,128	$ 2,533