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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 $ 55,953 $ 10,945
Adjustments to reconcile net income to net cash provided by operating activities:    
Real estate depreciation 50,249 54,026
Corporate asset depreciation as corporate expenses 53 49
Gain on sale of hotel property 1,290 0
Gain on prepayment of note receivable (13,550) 0
Non-cash ground rent 3,292 3,410
Non-cash financing costs, debt premium and interest rate cap as interest 1,410 1,349
Amortization of note receivable discount as interest income (1,075) (1,205)
Amortization of favorable and unfavorable contracts, net (705) (709)
Amortization of deferred income (545) (532)
Stock-based compensation 2,687 3,241
Changes in assets and liabilities:    
Prepaid expenses and other assets (1,975) (4,575)
Restricted cash (9,156) 1,358
Due to/from hotel managers (14,585) (12,968)
Accounts payable and accrued expenses (5,001) (1,375)
Net cash provided by operating activities 65,762 53,014
Cash flows from investing activities:    
Hotel capital expenditures (40,415) (42,590)
Net proceeds from sale of property 23,650 0
Note receivable principal repayments 64,500 6,574
Change in restricted cash 2,576 (13,342)
Receipt of deferred key money 0 338
Net cash provided by (used in) investing activities 50,311 (49,020)
Cash flows from financing activities:    
Scheduled mortgage debt principal payments (7,268) (6,476)
Proceeds from mortgage debt 0 102,000
Draws on senior unsecured credit facility 41,320 25,000
Repayments of senior unsecured credit facility 0 (45,000)
Payment of financing costs (192) (535)
Deposit on new mortgage loan (1,820) 0
Payment of cash dividends (36,899) (32,403)
Repurchase of common stock and other (1,898) (1,952)
Net cash (used in) provided by financing activities (6,757) 40,634
Net increase in cash and cash equivalents 109,316 44,628
Cash and cash equivalents, beginning of period 144,584 9,623
Cash and cash equivalents, end of period 253,900 54,251
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest 27,416 26,313
Cash paid for income taxes 220 645
Capitalized interest 687 687
Cash received from litigation settlement 14,000 0
Non-cash Financing Activities:    
Unpaid dividends $ 20,395 $ 16,919