XML 18 R54.htm IDEA: XBRL DOCUMENT v2.4.0.8
(Debt, Textuals) (Details) (USD $)
12 Months Ended 12 Months Ended 3 Months Ended 12 Months Ended 2 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended 0 Months Ended
Dec. 31, 2013
Hotel
financing
Dec. 31, 2012
Dec. 31, 2011
Jun. 02, 2011
Dec. 31, 2013
Mortgages [Member]
Dec. 31, 2013
Line of Credit [Member]
Dec. 31, 2013
LIBOR [Member]
Line of Credit [Member]
Dec. 31, 2013
Debt Instrument, Secured Recourse Indebtedness Ratio After December 31st, 2013 [Member]
Dec. 31, 2013
Lexington Hotel New York [Member]
Number_of_renewal_terms
Dec. 31, 2013
Lexington Hotel New York [Member]
Mortgages [Member]
Dec. 31, 2013
Lexington Hotel New York [Member]
Mortgages [Member]
Feb. 26, 2014
Lexington Hotel New York [Member]
Mortgages [Member]
Subsequent Event [Member]
Dec. 31, 2013
Lexington Hotel New York [Member]
LIBOR [Member]
Dec. 31, 2013
The Lodge at Sonoma, a Renaissance Resort and Spa [Member]
Mar. 21, 2013
The Lodge at Sonoma, a Renaissance Resort and Spa [Member]
Mortgages [Member]
Dec. 31, 2013
Westin San Diego [Member]
Mar. 29, 2013
Westin San Diego [Member]
Mortgages [Member]
Oct. 24, 2013
Salt Lake City Marriott Downtown [Member]
Mortgages [Member]
Debt (Textuals) [Abstract]                                    
Term Loan, number of extensions subject to subject to the satisfaction of certain terms and conditions and the payment of an extension fee                 2                  
Term Loans, extension length                 1 year                  
Number of hotel properties secured by mortgage debt 14                                  
Number of rooms acquired under leasehold Interest 26                                  
DSCR minimum                     1.1              
DSCR paid during period                   $ 2,000,000   $ 2,200,000            
Proceeds from mortgage debt 165,000,000 244,368,000 100,000,000   165,000,000                   31,000,000   71,000,000 63,000,000
Term           5 years                 10 years   10 years 7 years
Interest Rate                           3.96% 3.96% 3.94% 3.94% 4.25%
Repayments of mortgage loans secured through defeasance                                   27,300,000
Defeasance expense                                   1,500,000
Amortization Provisions                           30 years 30 years 30 years 30 years  
Number of financings during period 3                                  
Maximum borrowing capacity       200,000,000                            
Increase in Credit Facility       400,000,000                            
Percent of Net Proceeds from Future Equity Issuances 75.00%                                  
Secured Recourse Indebtedness Ratio               45.00% [1]                    
Minimum number of unencumbered borrowing base properties 5                                  
Minimum unencumbered borrowing base 250,000,000                                  
Number of unencumbered borrowing base properties 5                                  
Unencumbered borrowing base 319,000,000                                  
Line Of Credit Facility Leverage Ratio 4.3                                  
Basis spread on variable rate             190.00%           3.00% [2]          
Interest and unused credit facility fees $ 900,000 $ 2,700,000 $ 2,900,000                              
[1] secured recourse indebtedness covenant threshold will decrease to 45% of Total Asset Value, as defined in the credit agreement
[2] The loan may be extended for two additional one-year terms subject to the satisfaction of certain conditions and the payment of an extension fee.