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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities    
Net income $ 102,410 $ 86,497
Adjustments to reconcile net income to cash flow provided by operating activities:    
Loss on defeasance 804 0
Loss on disposal of hotel properties 975 0
Impairment of Real Estate 9,200 0
Gain on extinguishment of indebtedness 0 (5,702)
Gain on Foreclosure   (4,831)
Depreciation and amortization 105,541 94,940
Amortization of deferred financing costs 3,312 3,487
Amortization of deferred management fees 719 882
Accretion of interest income on investment in loan (175) 0
Share grants to trustees 94 96
Amortization of share based compensation 11,244 9,691
Deferred income taxes (635) (316)
Changes in assets and liabilities:    
Hotel and other receivables, net (14,005) (9,183)
Prepaid expense and other assets (6,912) (273)
Accounts payable and accrued expense 8,953 5,978
Advance deposits and deferred revenue 2,564 3,721
Accrued interest 16 230
Net cash flow provided by operating activities 224,105 185,217
Cash flows from investing activities    
Acquisition of hotel and other properties, net (631,640) (184,165)
Proceeds from the disposal of hotel properties, net 124,076 0
Payments for (Proceeds from) Deposits on Real Estate Acquisitions (6,246) (1,914)
Proceeds from principal payments on investment in loan 0 103
Improvements and additions to hotel and other properties (70,987) (41,717)
Additions to property and equipment (26) (137)
Releases from restricted cash reserves, net 2,946 10,985
Net cash flow used in investing activities (569,385) (213,017)
Cash flows from financing activities    
Borrowings under revolving credit facility 292,500 205,500
Repayments under revolving credit facility (292,500) (221,500)
Borrowings on term loans 175,000 450,000
Proceeds from Issuance of Secured Debt   150,000
Payment of mortgage loans (27,134) (575,850)
Repurchase of common shares (4,246) (2,871)
Distributions on common shares (85,532) (72,170)
Distributions on Operating Partnership units (611) (550)
Payment of deferred financing costs (1,579) (4,639)
Distribution to noncontrolling interest (1,182)  
Proceeds from issuance of common shares 232,756 327,545
Net cash flow provided by financing activities 287,472 255,465
Net change in cash and cash equivalents (57,808) 227,665
Cash and cash equivalents, beginning of period 332,248 115,861
Cash and cash equivalents, end of period $ 274,440