v2.4.0.8
Acquisition of Hotel and Other Properties (Details) (USD $)
 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 9 Months Ended 1 Months Ended 1 Months Ended 0 Months Ended 1 Months Ended 0 Months Ended 3 Months Ended 9 Months Ended 9 Months Ended 1 Months Ended 1 Months Ended 1 Months Ended
Sep. 30, 2013
room
Sep. 30, 2012
Sep. 30, 2013
room
Sep. 30, 2012
Sep. 30, 2013
2013 acquisitions
room
Sep. 30, 2013
2013 acquisitions
room
Sep. 30, 2013
2013 acquisitions
Lease intangibles
Sep. 30, 2013
2013 acquisitions
Management agreement intangibles
Mar. 31, 2013
Courtyard Houston Downtown
Mar. 19, 2013
Courtyard Houston Downtown
room
Mar. 31, 2013
Residence Inn Houston Downtown
Mar. 19, 2013
Residence Inn Houston Downtown
room
Mar. 19, 2013
Humble Tower Apartments
room
Mar. 31, 2013
Humble Tower Apartments
Jun. 17, 2013
Courtyard Waikiki Beach
room
Jun. 21, 2013
Vantaggio Suites Cosmo
room
Aug. 06, 2013
Residence Inn Atlanta Midtown
room
Sep. 30, 2012
2012 acquisitions
room
Sep. 30, 2012
2012 acquisitions
room
Sep. 30, 2012
2012 acquisitions
Lease intangibles
Sep. 30, 2012
2012 acquisitions
Management agreement intangibles
May 31, 2012
Residence Inn Bethesda
May 29, 2012
Residence Inn Bethesda
room
May 31, 2012
Courtyard New York Manhattan/Upper East Side
May 30, 2012
Courtyard New York Manhattan/Upper East Side
room
Jun. 30, 2012
Hilton Garden Inn San Francisco/Oakland Bay Bridge
Jun. 11, 2012
Hilton Garden Inn San Francisco/Oakland Bay Bridge
room
Acquisition of Hotel Properties                                                      
Rooms 22,281   22,281   1,071 1,071       191   171 82 [1]   399 150 [2] 78 [3] 691 691       187   226   278
Noncash or Part Noncash Acquisition, Value of Assets Acquired                                 $ 4,700,000 [3]                    
Purchase Price         188,700,000 188,700,000       34,300,000   29,400,000 15,600,000 [1]   75,300,000 29,400,000 [2]   182,700,000 182,700,000       64,500,000   82,000,000   36,200,000
% Interest     100.00%           100.00%   100.00%     100.00% [1] 100.00% 100.00% [2] 100.00% [3]         100.00%   100.00%   100.00%  
Number of rooms in a Spring Hill Suites branded hotel into which property will be converted                         166                            
Allocation of purchase price for the hotel properties acquired and liabilities assumed                                                      
Land and land improvements         24,132,000 24,132,000                       40,711,000 40,711,000                
Buildings and improvements         169,070,000 169,070,000                       135,727,000 135,727,000                
Furniture, fixtures and equipment         3,151,000 3,151,000                       6,220,000 6,220,000                
Intangibles             342,000 (3,695,000)                       0 0            
Total               193,000,000                         182,658,000            
Bargain purchase gain               (4,269,000)                         0            
Total Purchase Price         188,731,000 188,731,000                       182,658,000 182,658,000                
Total revenues and net income (loss) from hotels acquired                                                      
Revenue 252,395,000 224,250,000 728,631,000 629,130,000 11,179,000 17,741,000                       11,279,000 14,301,000                
Net income 36,928,000 15,301,000 86,497,000 27,399,000 2,056,000 1,488,000                       2,005,000 (408,000)                
Unaudited condensed pro forma financial information                                                      
Revenue 252,679,000 238,788,000 745,618,000 687,496,000                                              
Net income $ 33,607,000 $ 20,228,000 $ 85,906,000 $ 42,137,000                                              
Net income per share attributable to common shareholders - basic (in dollars per share) $ 0.28 $ 0.19 $ 0.74 $ 0.40                                              
Net income per share attributable to common shareholders - diluted (in dollars per share) $ 0.27 $ 0.19 $ 0.73 $ 0.40                                              
Weighted average number of shares outstanding - basic (in shares) 121,594,219 105,453,978 116,697,417 105,392,071                                              
Weighted average number of shares outstanding - diluted (in shares) 122,750,121 105,509,104 117,797,670 105,446,211                                              
[1] Conversion to a 166-room SpringHill Suites expected to be complete by mid-2015.
[2] The property is not currently open for operations. Conversion to a 150-room Courtyard expected to be complete by late 2014.
[3] The Company was the successful bidder at a foreclosure sale of the property collateralizing a non-performing loan (see Note 6).The property was operating at the time of the acquisition and was subsequently closed for a major renovation, which is expected to be complete in the third quarter of 2014.