v2.3.0.11
Combined Consolidated Balance Sheets (USD $)
In Thousands
Jun. 30, 2011
Dec. 31, 2010
Assets    
Investment in hotel properties, net $ 2,793,632 $ 2,626,690
Investment in loans 12,732 12,840
Property and equipment, net 1,249 1,585
Cash and cash equivalents 362,559 267,454
Restricted cash reserves 95,292 70,520
Hotel receivables, net of allowance of $170 and $406, respectively 27,246 19,556
Deferred financing costs, net 9,661 9,298
Deferred income tax asset 1,453 799
Prepaid expense and other assets 29,389 37,082
Total assets 3,333,213 3,045,824
Liabilities and Owners' Equity    
Mortgage loans 1,263,880 1,747,077
Term loan 140,000  
Interest rate swap liability 3,008 3,820
Accounts payable and accrued expense 72,372 60,973
Deferred income tax liability 1,453 799
Advance deposits and deferred revenue 7,281 5,927
Accrued interest 3,094 3,495
Distributions payable 8,577  
Preferred distributions payable 47  
Total liabilities 1,499,712 1,822,091
Shareholders' equity:    
Common shares of beneficial interest, $0.01 par value, 500,000,000 shares authorized; 106,324,083 and zero shares issued and outstanding at June 30, 2011 and December 31, 2010, respectively 1,063  
Additional paid-in-capital 1,834,184  
Distributions in excess of net earnings (17,118)  
Accumulated other comprehensive loss (2,994) (3,806)
Total shareholders' equity 1,818,129  
Noncontrolling interest    
Noncontrolling interest in joint venture 7,046 7,623
Noncontrolling interest in Operating Partnership 11,320  
Total noncontrolling interest   7,623
Total noncontrolling interest 18,366  
Total equity   1,223,733
Total equity 1,833,501  
Total liabilities and equity 3,333,213 3,045,824
Fund II Member
    
Partners' capital    
General partner   (13,409)
Limited partners   433,013
Fund II Member | Series A preferred units
    
Members' capital    
Series A preferred units, no par value, 12.5%, 250 units authorized, issued and outstanding at May 16, 2011 and December 31, 2010, respectively   189
Fund III Member
    
Partners' capital    
General partner   (23,328)
Limited partners   811,918
Fund III Member | Series A preferred units
    
Members' capital    
Series A preferred units, no par value, 12.5%, 250 units authorized, issued and outstanding at May 16, 2011 and December 31, 2010, respectively   190
Class A Members
    
Members' capital    
Members' capital   6,592
Class B Members
    
Members' capital    
Members' capital   $ 4,751