CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities:
Net income	$ 91,465	$ 72,859
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	157,050	145,878
Amortization of deferred financing costs and debt discounts as interest	3,184	3,036
Straight line rental income	(75)	(98)
Security deposits replenished	5,123
FF&E reserve income and deposits	(26,852)	(14,311)
Loss on extinguishment of debt	214
Loss on asset impairment		2,171
Equity in earnings of an investee	(28)	(155)
Gain on sale of real estate	(130)
Deferred income taxes		(7,068)
Other non-cash (income) expense, net	1,884	(1,764)
Changes in assets and liabilities:
Increase in due from related persons	(342)	(8,673)
Increase in other assets	(4,221)	(11,063)
Decrease in accounts payable and other liabilities	(9,355)	(2,613)
Decrease in due to related persons	(815)	(6,295)
Cash provided by operating activities	217,102	171,904
Cash flows from investing activities:
Real estate acquisitions and deposits	(60,000)	(168,409)
Real estate improvements	(96,081)	(113,712)
FF&E reserve fundings	(2,511)	(29,720)
Net proceeds from sale of real estate	4,288
Eminent domain proceeds	6,178
Investment in Affiliates Insurance Company	(825)
Cash used in investing activities	(148,951)	(311,841)
Cash flows from financing activities:
Proceeds from issuance of common shares, net		393,474
Proceeds from issuance of senior notes, net of discount	346,616	299,661
Repayment of senior notes	(300,000)
Borrowings under revolving credit facility	420,000	245,000
Repayments of revolving credit facility	(380,000)	(475,000)
Deferred financing costs	(6,231)	(2,529)
Distributions to preferred shareholders	(10,332)	(16,194)
Distributions to common shareholders	(145,184)	(123,787)
Cash (used in) provided by financing activities	(75,131)	320,625
Increase (decrease) in cash and cash equivalents	(6,980)	180,688
Cash and cash equivalents at beginning of period	22,500	20,049
Cash and cash equivalents at end of period	15,520	200,737
Supplemental cash flow information:
Cash paid for interest	71,365	66,407
Cash paid for income taxes	3,754	1,944
Non-cash investing activities:
Hotel managers' deposits in FF&E reserve	23,608	13,718
Hotel managers' purchases with FF&E reserve	$ (27,753)	$ (49,382)