DiamondRock Hospitality (DRH) 10-Q8 Nov 132013 Q3 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2013	Nov. 08, 2013
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'DiamondRock Hospitality Co	'
Entity Central Index Key	'0001298946	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Large Accelerated Filer	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-13	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'
Amendment Flag	'false	'
Entity Common Stock, Shares Outstanding	'	195,470,791

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
ASSETS	'	'
Property and equipment, at cost	$3,207,378	$3,131,175
Less: accumulated depreciation	-599,343	-519,721
Property and equipment, net	2,608,035	2,611,454
Deferred financing costs, net	7,947	9,724
Restricted cash	86,556	76,131
Due from hotel managers	80,690	68,532
Note receivable	49,356	53,792
Favorable lease assets, net	40,194	40,972
Prepaid and other assets	81,000	73,814
Cash and cash equivalents	43,448	9,623
Total assets	2,997,226	2,944,042
Liabilities:	'	'
Mortgage debt	1,060,299	968,731
Senior unsecured credit facility	0	20,000
Total debt	1,060,299	988,731
Deferred income related to key money, net	23,900	24,362
Unfavorable contract liabilities, net	78,633	80,043
Due to hotel managers	55,785	51,003
Dividends declared and unpaid	17,006	15,911
Accounts payable and accrued expenses	94,845	88,879
Total other liabilities	270,169	260,198
Stockholdersâ€™ Equity:	'	'
Preferred stock, $0.01 par value; 10,000,000 shares authorized; no shares issued and outstanding	0	0
Common stock, $0.01 par value; 400,000,000 shares authorized; 195,470,791 and 195,145,707 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively	1,955	1,951
Additional paid-in capital	1,978,505	1,976,200
Accumulated deficit	-313,702	-283,038
Total stockholdersâ€™ equity	1,666,758	1,695,113
Total liabilities and stockholdersâ€™ equity	$2,997,226	$2,944,042

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Stockholders' Equity:	'	'
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	195,470,791	195,145,707
Common stock, shares outstanding	195,470,791	195,145,707

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 07, 2012	Sep. 07, 2012	Sep. 30, 2013
Revenues:	'	'	'	'
Rooms	$150,146	$132,578	$338,043	$428,981
Food and beverage	47,522	40,791	117,415	149,743
Other	12,975	10,504	27,787	37,407
Total revenues	210,643	183,873	483,245	616,131
Operating Expenses:	'	'	'	'
Rooms	40,521	35,428	92,386	116,091
Food and beverage	34,591	30,008	85,731	106,475
Management fees	7,178	5,744	15,313	19,410
Other hotel expenses	75,176	64,098	171,131	219,302
Depreciation and amortization	26,254	22,612	62,802	80,280
Impairment losses	0	30,376	30,844	0
Hotel acquisition costs	23	8,314	10,345	46
Corporate expenses	4,932	6,227	15,711	18,055
Total operating expenses	188,675	202,807	484,263	559,659
Operating profit (loss)	21,968	-18,934	-1,018	56,472
Other Expenses (Income):	'	'	'	'
Interest income	-1,660	-60	-278	-4,604
Interest expense	14,471	12,732	36,710	42,511
Gain on early extinguishment of debt	0	0	-144	0
Total other expenses, net	12,811	12,672	36,288	37,907
Income (loss) from continuing operations before income taxes	9,157	-31,606	-37,306	18,565
Income tax (expense) benefit	-593	916	4,992	944
Income (loss) from continuing operations	8,564	-30,690	-32,314	19,509
Loss from discontinued operations, net of income taxes	0	-14,089	-905	0
Net income (loss)	$8,564	($44,779)	($33,219)	$19,509
Earnings (loss) per share:	'	'	'	'
Continuing operations (in dollars per share)	$0.04	($0.16)	($0.19)	$0.10
Discontinued operations (in dollars per share)	$0	($0.08)	$0	$0
Basic and diluted earnings (loss) per share (in dollars per share)	$0.04	($0.24)	($0.19)	$0.10

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 07, 2012	Sep. 30, 2013
Cash flows from operating activities:	'	'
Net income (loss)	($33,219)	$19,509
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Real estate depreciation	64,149	80,280
Corporate asset depreciation as corporate expenses	66	75
Gain on sale of hotel properties	-9,541	0
Gain on early extinguishment of debt	-144	0
Non-cash ground rent	4,621	5,111
Non-cash financing costs, debt premium and interest rate cap as interest	2,529	2,082
Amortization of note receivable discount as interest income	0	-1,892
Impairment losses	45,534	0
Amortization of favorable and unfavorable contracts, net	-1,296	-1,063
Amortization of deferred income	-658	-799
Stock-based compensation	3,230	4,225
Payment of litigation settlement	-1,709	0
Changes in assets and liabilities:	'	'
Prepaid expenses and other assets	-1,261	-2,856
Restricted cash	-1,532	2,894
Due to/from hotel managers	-15,281	-7,375
Accounts payable and accrued expenses	-10,822	-8
Net cash provided by operating activities	44,666	100,183
Cash flows from investing activities:	'	'
Hotel capital expenditures	-26,354	-75,256
Hotel acquisitions	-415,188	0
Net proceeds from sale of properties	92,120	0
Mortgage loan principal payments	551	6,574
Change in restricted cash	-6,193	-13,319
Purchase deposits	-1,898	-5,000
Receipt of deferred key money	479	338
Net cash used in investing activities	-356,483	-86,663
Cash flows from financing activities:	'	'
Scheduled mortgage debt principal payments	-7,441	-10,161
Repurchase of common stock and other	-2,946	-1,952
Proceeds from sale of common stock, net	199,831	0
Proceeds from mortgage debt	170,368	102,000
Prepayment of mortgage debt	-26,963	0
Draws on senior unsecured credit facility	175,000	25,000
Repayments of senior unsecured credit facility	-155,000	-45,000
Payment of financing costs	-4,412	-538
Purchase of interest rate cap	-934	0
Payment of cash dividends	-40,373	-49,044
Net cash provided by financing activities	307,130	20,305
Net increase (decrease) in cash and cash equivalents	-4,687	33,825
Cash and cash equivalents, beginning of period	26,291	9,623
Cash and cash equivalents, end of period	21,604	43,448
Supplemental Disclosure of Cash Flow Information:	'	'
Cash paid for interest	38,236	40,503
Cash paid for income taxes	1,192	724
Capitalized interest	802	1,164
Non-cash Financing Activities:	'	'
Unpaid dividends	15,871	17,006
Buyer assumption of mortgage debt on sale of hotels	$180,000	$0

Organization

Organization	9 Months Ended
Organization	Sep. 30, 2013
Organization [Abstract]	'
Organization	'
	Organization

	DiamondRock Hospitality Company (the “Company” or “we”) is a lodging-focused real estate company that owns a portfolio of premium hotels and resorts. Our hotels are concentrated in key gateway cities and in destination resort locations and most are operated under a brand owned by one of the leading global lodging brand companies (Marriott International, Inc. (“Marriott”), Starwood Hotels & Resorts Worldwide, Inc. (“Starwood”), or Hilton Worldwide (“Hilton”)). We are an owner, as opposed to an operator, of the hotels in our portfolio. As an owner, we receive all of the operating profits or losses generated by our hotels after we pay fees to the hotel managers, which are based on the revenues and profitability of the hotels.

	As of September 30, 2013, we owned 27 hotels with 11,608 guest rooms, located in the following markets: Atlanta, Georgia; Boston, Massachusetts (2); Burlington, Vermont; Charleston, South Carolina; Chicago, Illinois (2); Denver, Colorado (2); Fort Worth, Texas; Los Angeles, California (2); Minneapolis, Minnesota; New York, New York (4); Oak Brook, Illinois; Orlando, Florida; Salt Lake City, Utah; San Diego, California; San Francisco, California; Sonoma, California; St. Thomas, U.S. Virgin Islands; Vail, Colorado; and Washington D.C. (2). We also own a senior mortgage loan secured by a 443-room hotel located in Chicago, Illinois and have the right to acquire, upon completion, a 282-room hotel under development in New York City.

	We conduct our business through a traditional umbrella partnership REIT, or UPREIT, in which our hotel properties are owned by our operating partnership, DiamondRock Hospitality Limited Partnership, or subsidiaries of our operating partnership. The Company is the sole general partner of our operating partnership and currently owns, either directly or indirectly, all of the limited partnership units of our operating partnership.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	Summary of Significant Accounting Policies

	Basis of Presentation

	We have condensed or omitted certain information and footnote disclosures normally included in financial statements presented in accordance with U.S. generally accepted accounting principles, or U.S. GAAP, in the accompanying unaudited condensed consolidated financial statements. We believe the disclosures made are adequate to prevent the information presented from being misleading. However, the unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto as of and for the year ended December 31, 2012, included in our Annual Report on Form 10-K filed on March 1, 2013.

	In our opinion, the accompanying unaudited condensed consolidated financial statements reflect all adjustments necessary to present fairly our financial position as of September 30, 2013 and the results of our operations for the fiscal quarters ended September 30, 2013 and September 7, 2012 and the periods from January 1, 2013 to September 30, 2013 and January 1, 2012 to September 7, 2012, and our cash flows for the periods from January 1, 2013 to September 30, 2013 and January 1, 2012 to September 7, 2012. Interim results are not necessarily indicative of full-year performance because of the impact of seasonal and short-term variations.

	Our financial statements include all of the accounts of the Company and its subsidiaries in accordance with U.S. GAAP. All intercompany accounts and transactions have been eliminated in consolidation. If the Company determines that it has an interest in a variable interest entity within the meaning of the FASB ASC 810, Consolidation, the Company will consolidate the entity when it is determined to be the primary beneficiary of the entity.

	Change in Reporting Periods

	Effective January 1, 2013, we report quarterly operating results on a calendar cycle, which is now consistent with all of our hotel managers. We continue to report our annual financial statements on a calendar year basis. Historically, our quarterly operating results have been reported based on a 52-53 week fiscal calendar used by Marriott, the manager of 14 of our hotels. Beginning in 2013, Marriott converted to reporting results based on a 12-month calendar year. Previously, Marriott's fiscal year consisted of thirteen 4-week accounting periods, ended on the Friday closest to December 31, and included twelve weeks of operations for each of the first three quarters and sixteen weeks for the fourth quarter. Accordingly, our first three quarters in 2012 ended on March 23, June 15 and September 7. In contrast, the managers of our other hotels, such as Hilton, Starwood and other independent managers, reported results on a monthly basis. Our 2012 quarterly results of operations included results from our non-Marriott-managed hotels as follows: first quarter (January to February), second quarter (March to May), third quarter (June to August) and fourth quarter (September to December).

	The following table illustrates the change in our reporting periods:


	Quarter	2012 Reporting Calendar		2013 Reporting Calendar
	1st	Marriott-managed hotels	January 1 - March 23	All Hotels	January 1 - March 31
		Non-Marriott-managed hotels	January 1 - February 29
	2nd	Marriott-managed hotels	March 24 - June 15	All Hotels	April 1 - June 30
		Non-Marriott-managed hotels	March 1 - May 31
	3rd	Marriott-managed hotels	June 16 - September 7	All Hotels	July 1 - September 30
		Non-Marriott-managed hotels	June 1 - August 31
	4th	Marriott-managed hotels	September 8 - December 31	All Hotels	October 1 - December 31
		Non-Marriott-managed hotels	September 1 - December 31

	We will not restate the previously filed 2012 quarterly financial statements because Marriott did not provide us operating results for 2012 on a daily basis. Because we rely upon our hotel managers for the hotel operating results used in our financial statements, the unavailability of this information on a calendar quarter basis for 2012 made restating our financial statements unfeasible. Accordingly, our 2012 reported quarterly operating results are not comparable to our 2013 quarterly operating results.

	Property and Equipment

	Investments in hotel properties, land, land improvements, building and furniture, fixtures and equipment and identifiable intangible assets are recorded at fair value upon acquisition. Property and equipment purchased after the hotel acquisition date is recorded at cost. Replacements and improvements are capitalized, while repairs and maintenance are expensed as incurred. Upon the sale or retirement of a fixed asset, the cost and related accumulated depreciation is removed from the Company’s accounts and any resulting gain or loss is included in the statements of operations.

	Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally 15 to 40 years for buildings, land improvements, and building improvements and 1 to 10 years for furniture, fixtures and equipment. Leasehold improvements are amortized over the shorter of the lease term or the useful lives of the related assets.

	We review our investments in hotel properties for impairment whenever events or changes in circumstances indicate that the carrying value of the hotel properties may not be recoverable. Events or circumstances that may cause a review include, but are not limited to, adverse changes in the demand for lodging at the properties due to declining national or local economic conditions and/or new hotel construction in markets where the hotels are located. When such conditions exist, management performs an analysis to determine if the estimated undiscounted future cash flows from operations and the proceeds from the ultimate disposition of a hotel, less costs to sell, exceed its carrying value. If the estimated undiscounted future cash flows are less than the carrying amount of the asset, an adjustment to reduce the carrying amount to the related hotel’s estimated fair market value is recorded and an impairment loss is recognized.

	We will classify a hotel as held for sale in the period that we have made the decision to dispose of the hotel, a binding agreement to purchase the property has been signed under which the buyer has committed a significant amount of nonrefundable cash and no significant financing or other contingencies exist which could cause the transaction to not be completed in a timely manner. If these criteria are met, we will record an impairment loss if the fair value less costs to sell is lower than the carrying amount of the hotel and related assets and will cease recording depreciation expense. We will classify the loss, together with the related operating results, as discontinued operations on the statements of operations and classify the assets and related liabilities as held for sale on the balance sheet.

	Note Receivable

	Notes receivable are carried at cost, net of any premiums or discounts which are recognized as an adjustment of yield over the remaining life of the note using the effective interest rate method. Notes receivable are evaluated for collectability and if collectability of the original amounts due is in doubt, the value is adjusted for impairment. Our impairment analysis considers the anticipated cash receipts as well as the underlying value of the collateral. If collectability is in doubt, the note is placed in non-accrual status. No interest is recorded on such notes until the timing and amounts of cash receipts can be reasonably estimated. We record cash payments received on non-accrual notes receivable as a reduction in basis. We continually assess the current facts and circumstances to determine whether we can reasonably estimate cash flows. If we can reasonably estimate the timing and amount of cash flows to be collected, then income recognition becomes possible.

	Revenue Recognition

	Revenues from operations of the hotels are recognized when the services are provided. Revenues consist of room sales, golf sales, food and beverage sales, and other hotel department revenues, such as telephone, parking, gift shop sales and resort fees.

	Earnings (Loss) Per Share

	Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding during the period plus other potentially dilutive securities such as equity awards or shares issuable in the event of conversion of operating partnership units. No adjustment is made for shares that are anti-dilutive during a period.

	Comprehensive Income (Loss)

	We do not have any items of comprehensive income (loss) other than net income (loss). If we do incur any additional items of comprehensive income (loss), such that a statement of comprehensive income would be necessary, such statement will be reported as one statement with the condensed consolidated statement of operations.

	Stock-based Compensation

	We account for stock-based employee compensation using the fair value based method of accounting. We record the cost of stock-based awards based on the grant-date fair value of the award. That cost is recognized over the period during which an employee is required to provide service in exchange for the award. No compensation cost is recognized for equity instruments for which employees do not render the requisite service.

	Income Taxes

	We account for income taxes using the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities from a change in tax rates is recognized in earnings in the period when the new rate is enacted.

We have elected to be treated as a REIT under the provisions of the Internal Revenue Code of 1986, as amended, which requires that we distribute at least 90% of our taxable income annually to our stockholders and comply with certain other requirements. In addition to paying federal and state taxes on any retained income, we may be subject to taxes on “built-in gains” on sales of certain assets. Our taxable REIT subsidiaries will generally be subject to federal, state, local, and/or foreign income taxes.

In order for the income from our hotel property investments to constitute “rents from real properties” for purposes of the gross income tests required for REIT qualification, the income we earn cannot be derived from the operation of any of our hotels. Therefore, we lease each of our hotel properties to a wholly-owned subsidiary of Bloodstone TRS, Inc., our taxable REIT subsidiary, or TRS, except for the Frenchman’s Reef & Morning Star Marriott Beach Resort, which is owned by a Virgin Islands corporation, which we have elected to be treated as a TRS.

We had no accruals for tax uncertainties as of September 30, 2013 and December 31, 2012.

Fair Value Measurements

In evaluating fair value, U.S. GAAP outlines a valuation framework and creates a fair value hierarchy that distinguishes between market assumptions based on market data (observable inputs) and a reporting entity’s own assumptions about market data (unobservable inputs). The hierarchy ranks the quality and reliability of inputs used to determine fair value, which are then classified and disclosed in one of the three categories. The three levels are as follows:

•Level 1 - Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities
•Level 2 - Inputs include quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets in markets that are not active and model-derived valuations whose inputs are observable
•Level 3 - Model-derived valuations with unobservable inputs

Intangible Assets and Liabilities

Intangible assets and liabilities are recorded on non-market contracts assumed as part of the acquisition of certain hotels. We review the terms of agreements assumed in conjunction with the purchase of a hotel to determine if the terms are favorable or unfavorable compared to an estimated market agreement at the acquisition date. Favorable lease assets or unfavorable contract liabilities are recorded at the acquisition date and amortized using the straight-line method over the term of the agreement. We do not amortize intangible assets with indefinite useful lives, but we review these assets for impairment annually or at interim periods if events or circumstances indicate that the asset may be impaired.

Straight-Line Rental Income and Expense

We record rental income and expense on a straight-line basis for leases that provide for minimum rental payments that increase in pre-established amounts over the remaining term of the lease.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of our note receivable and cash and cash equivalents. We perform periodic evaluations of the underlying hotel property securing the note receivable. See further discussion in Note 5. We maintain cash and cash equivalents with various financial institutions. We perform periodic evaluations of the relative credit standing of these financial institutions and limit the amount of credit exposure with any one institution.

Use of Estimates

The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Risks and Uncertainties

The state of the overall economy can significantly impact hotel operational performance and thus, impact our financial position. Should any of our hotels experience a significant decline in operational performance, it may affect our ability to make distributions to our stockholders and service debt or meet other financial obligations.

Property_and_Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2013
Property, Plant and Equipment [Abstract]	'
Property and Equipment	'
	Property and Equipment

	Property and equipment as of September 30, 2013 and December 31, 2012 consists of the following (in thousands):



		September 30, 2013			December 31, 2012
	Land	$	402,198		$	402,198

	Land improvements	7,994			7,994

	Buildings	2,369,198			2,360,648

	Furniture, fixtures and equipment	407,422			340,462

	CIP and corporate office equipment	20,566			19,873

		3,207,378			3,131,175

	Less: accumulated depreciation	(599,343		)	(519,721		)
		$	2,608,035		$	2,611,454


	As of September 30, 2013, we had accrued capital expenditures of $3.9 million. As of December 31, 2012, we had accrued capital expenditures of $3.0 million.

Favorable_Lease_Assets

Favorable Lease Assets	9 Months Ended
	Sep. 30, 2013
Goodwill and Intangible Assets Disclosure [Abstract]	'
Favorable Lease Assets	'
	Favorable Lease Assets

	In connection with the acquisition of certain hotels, we recognized intangible assets for favorable ground leases and tenant leases. Our favorable lease assets, net of accumulated amortization, as of September 30, 2013 and December 31, 2012 consist of the following (in thousands):


		September 30, 2013		December 31, 2012
	Westin Boston Waterfront Ground Lease	$	18,564	$	18,726

	Westin Boston Waterfront - Lease Right	9,045		9,045

	Minneapolis Hilton Ground Lease	5,854		5,910

	Oak Brook Hills Marriott Resort Ground Lease	5,166		5,489

	Lexington Hotel New York Tenant Leases	1,212		1,323

	Hilton Boston Downtown Tenant Leases	353		479

		$	40,194	$	40,972


	The favorable lease assets are recorded at the acquisition date and are generally amortized using the straight-line method over the remaining non-cancelable term of the lease agreement. Amortization expense for the period from January 1, 2013 to September 30, 2013 was approximately $0.8 million.

	We own a favorable lease asset related to the right to acquire a leasehold interest in a parcel of land adjacent to the Westin Boston Waterfront Hotel for the development of a 320 to 350 room hotel (the “lease right”). The option expires in 2016. We do not amortize the lease right but review the asset for impairment annually or at interim periods if events or circumstances indicate that the asset may be impaired. No impairment loss was recorded for the period from January 1, 2013 to September 30, 2013. An impairment loss of $0.5 million was recorded during the period from January 1, 2012 to September 7, 2012.

	The fair value of the lease right is a Level 3 measurement under the fair value hierarchy (see Note 2) and is derived from a discounted cash flow model using the favorable difference between the estimated participating rents or actual rents in accordance with the lease terms and the estimated market rents. The discount rate is estimated using a risk adjusted rate of return, the estimated participating rents are estimated based on a hypothetical hotel comparable to our Westin Boston Waterfront Hotel, and market rents are based on comparable long-term ground leases in the City of Boston.

Note_Receivable

Note Receivable	9 Months Ended
Note Receivable	Sep. 30, 2013
Accounts and Notes Receivable, Net [Abstract]	'
Note Receivable	'
	Note Receivable

	We own a senior mortgage loan secured by the 443-room Allerton Hotel in Chicago, Illinois (the "Allerton Loan"), which we acquired in 2010. On January 18, 2013, we closed on a settlement of the bankruptcy and related litigation involving the Allerton Loan. As a result of the settlement, we received a $5.0 million cash principal payment and entered into a new $66.0 million mortgage loan with a four-year term (plus a one-year extension option), bearing annual interest at a fixed rate of 5.5%. Principal payments are based on a 30-year amortization schedule, but are only due to the extent there is available cash flow from operations. Based on the settlement, we changed the classification of the Allerton Loan from non-accrual to accrual status. The settlement is considered a restructuring of the original loan. Therefore, the carrying basis of the previous note receivable remains the carrying basis of the new note receivable. The discount resulting from the difference between our carrying basis and the $66.0 million new Allerton Loan is recorded as interest income on a level yield basis over the anticipated term of the loan, which includes the one-year extension option. We received a $1.5 million principal payment in May 2013.

	We recorded $1.6 million of interest income on the Allerton Loan for the quarter ended September 30, 2013, of which $0.7 million is the amortization of the discount and the remainder is contractual interest income. We recorded $4.4 million of interest income on the Allerton Loan for the period from January 1, 2013 to September 30, 2013, of which $1.9 million is the amortization of the discount and the remainder is contractual interest income. We recorded no interest income in 2012 due to the non-accrual status of the Allerton Loan.

Capital_Stock

Capital Stock	9 Months Ended
	Sep. 30, 2013
Equity [Abstract]	'
Capital Stock	'
	Capital Stock

	Common Shares

	We are authorized to issue up to 400 million shares of common stock, $0.01 par value per share. Each outstanding share of common stock entitles the holder to one vote on all matters submitted to a vote of stockholders. Holders of our common stock are entitled to receive dividends out of assets legally available for the payment of dividends when authorized by our board of directors.

	We have paid the following dividends to holders of our common stock during 2013 as follows:


	Payment Date	Record Date	Dividend
			per Share
	January 10, 2013	31-Dec-12	$	0.08

	April 12, 2013	28-Mar-13	$	0.085

	July 11, 2013	28-Jun-13	$	0.085

	October 10, 2013	30-Sep-13	$	0.085


	On August 5, 2013, our board of directors voted to authorize us to purchase up to $100 million in shares of our common stock. Repurchases under this program will be made in open market or privately negotiated transactions. This authority may be exercised from time to time and in such amounts as market conditions warrant, and subject to regulatory considerations. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements, market conditions, and other corporate liquidity requirements and priorities. The share repurchase program may be suspended or terminated at any time without prior notice. We have not repurchased any shares of our common stock since the program started.

	Preferred Shares

	We are authorized to issue up to 10 million shares of preferred stock, $0.01 par value per share. Our board of directors is required to set for each class or series of preferred stock the terms, preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends or other distributions, qualifications, and terms or conditions of redemption. As of September 30, 2013 and December 31, 2012, there were no shares of preferred stock outstanding.

	Operating Partnership Units

	Holders of operating partnership units would have certain redemption rights, which would enable them to cause our operating partnership to redeem their units in exchange for cash per unit equal to the market price of our common stock, at the time of redemption, or, at our option for shares of our common stock on a one-for-one basis. The number of shares issuable upon exercise of the redemption rights will be adjusted upon the occurrence of stock splits, mergers, consolidations or similar pro-rata share transactions, which otherwise would have the effect of diluting the ownership interests of the limited partners or our stockholders. As of September 30, 2013 and December 31, 2012, there were no operating partnership units held by unaffiliated third parties.

Stock_Incentive_Plans

Stock Incentive Plans	9 Months Ended
	Sep. 30, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Stock Incentive Plans	'
	Stock Incentive Plans

	We are authorized to issue up to 8 million shares of our common stock under our 2004 Stock Option and Incentive Plan, as amended (the “Incentive Plan”), of which we have issued or committed to issue 3,457,829 shares as of September 30, 2013. In addition to these shares, additional shares of common stock could be issued in connection with the market stock unit awards and performance stock unit awards as further described below.

	Restricted Stock Awards

	Restricted stock awards issued to our officers and employees generally vest over a 3-year period from the date of the grant based on continued employment. We measure compensation expense for the restricted stock awards based upon the fair market value of our common stock at the date of grant. Compensation expense is recognized on a straight-line basis over the vesting period and is included in corporate expenses in the accompanying condensed consolidated statements of operations. A summary of our restricted stock awards from January 1, 2013 to September 30, 2013 is as follows:


		Number of			Weighted-
		Shares			Average Grant
					Date Fair
					Value
	Unvested balance at January 1, 2013	676,111			$	10.1

	Granted	301,806			9.18

	Additional shares from dividends	1,040			9.3

	Forfeited	(16,934	)		9.65

	Vested	(400,722	)		9.94

	Unvested balance at September 30, 2013	561,301			$	9.74


	The remaining share awards are expected to vest as follows: 270,440 during 2014, 193,200 during 2015, and 97,661 during 2016. As of September 30, 2013, the unrecognized compensation cost related to restricted stock awards was $3.9 million and the weighted-average period over which the unrecognized compensation expense will be recorded is approximately 23 months. We recorded $0.7 million and $0.8 million, respectively, of compensation expense related to restricted stock awards for each of the fiscal quarters ended September 30, 2013 and September 7, 2012. For the periods from January 1, 2013 to September 30, 2013 and January 1, 2012 to September 7, 2012, we recorded $2.7 million and $2.3 million, respectively, of compensation expense related to restricted stock awards. The compensation expense for the period from January 1, 2013 to September 30, 2013 includes $0.7 million related to the accelerated vesting of awards in connection with the retirement of our Chief Operating Officer on May 1, 2013.

	Market Stock Units

	We have awarded our executive officers market stock units (“MSUs”). MSUs are restricted stock units that vest three years from the date of grant. A summary of our MSUs from January 1, 2013 to September 30, 2013 is as follows:


		Number of			Weighted-
		Units			Average Grant
					Date Fair
					Value
	Unvested balance at January 1, 2013	258,842			$	11.31

	Additional units from dividends	5,104			9.75

	Vested	(90,620	)		9.86

	Unvested balance at September 30, 2013	173,326			$	12.02


	As of September 30, 2013, the unrecognized compensation cost related to the MSUs was $0.5 million and is expected to be recognized on a straight-line basis over a weighted average period of 14 months. For the fiscal quarters ended September 30, 2013 and September 7, 2012, we recorded approximately $0.1 million and $0.2 million, respectively, of compensation expense related to the MSUs. For the periods from January 1, 2013 to September 30, 2013 and January 1, 2012 to September 7, 2012, we recorded $0.7 million and $0.6 million, respectively, of compensation expense related to the MSUs. The compensation expense for the period from January 1, 2013 to September 30, 2013 includes $0.2 million related to the accelerated vesting of awards in connection with the retirement of our Chief Operating Officer on May 1, 2013.

	Performance Stock Units

	Beginning in 2013, we awarded our executive officers performance stock units (“PSUs”). PSUs are restricted stock units that vest three years from the date of grant. Each executive officer is granted a target number of PSUs (the “PSU Target Award”). The actual number of shares of common stock issued to each executive officer is subject to the achievement of certain levels of total stockholder return relative to the total stockholder return of a peer group over a three-year performance period. There will be no payout of shares of our common stock if our total stockholder return falls below the 30th percentile of the total stockholder returns of the peer group. The maximum number of shares of common stock issued to an executive officer is equal to 150% of the PSU Target Award and is earned if our total stockholder return is equal to or greater than the 75th percentile of the total stockholder returns of the peer group. The fair values of the PSU awards are determined using a Monte Carlo simulation. A summary of our PSUs from January 1, 2013 to September 30, 2013 is as follows:


		Number of			Weighted-
		Units			Average Grant
					Date Fair
					Value
	Unvested balance at January 1, 2013	—			$	—

	Granted	217,949			9.64

	Additional units from dividends	3,504			10.09

Unvested balance at September 30, 2013	221,453			$	9.65


As of September 30, 2013, the unrecognized compensation cost related to the PSUs was $1.7 million and is expected to be recognized on a straight-line basis over a period of 29 months. For the fiscal quarter ended September 30, 2013, we recorded approximately $0.2 million of compensation expense related to the PSUs. For the period from January 1, 2013 to September 30, 2013, we recorded approximately $0.4 million of compensation expense related to the PSUs.

Earnings_Loss_Per_Share

Earnings (Loss) Per Share	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Earnings (Loss) Per Share	'
	Earnings (Loss) Per Share

	Basic earnings (loss) per share is calculated by dividing net income (loss) available to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings (loss) per share is calculated by dividing net income (loss) available to common stockholders that has been adjusted for dilutive securities, by the weighted-average number of common shares outstanding including dilutive securities.

	The following is a reconciliation of the calculation of basic and diluted earnings (loss) per share (in thousands, except share and per share data):


		Quarter Ended					Period from
	Numerator:	September 30, 2013		September 7, 2012			January 1, 2013 to September 30, 2013		January 1, 2012 to September 7, 2012
	Income (loss) from continuing operations	$	8,564	$	(30,690	)	$	19,509	$	(32,314	)

	Loss from discontinued operations	—		(14,089		)	—		(905		)

	Net income (loss)	$	8,564	$	(44,779	)	$	19,509	$	(33,219	)

	Denominator:
	Weighted-average number of common shares outstanding—basic	195,546,384		187,010,360			195,455,225		174,241,316

	Effect of dilutive securities:
	Unvested restricted common stock	151,878		—			119,848		—

	Shares related to unvested MSUs and PSUs	162,099		—			171,950		—

	Weighted-average number of common shares outstanding—diluted	195,860,361		187,010,360			195,747,023		174,241,316

	Basic earnings (loss) per share:

	Continuing operations	$	0.04	$	(0.16	)	$	0.1	$	(0.19	)

	Discontinued operations	—		(0.08		)	—		(0.00		)

	Total	$	0.04	$	(0.24	)	$	0.1	$	(0.19	)

	Diluted earnings (loss) per share:
	Continuing operations	$	0.04	$	(0.16	)	$	0.1	$	(0.19	)

	Discontinued operations	—		(0.08		)	—		(0.00		)

	Total	$	0.04	$	(0.24	)	$	0.1	$	(0.19	)


	We did not include 262,461 unexercised stock appreciation rights in our calculation of diluted earnings (loss) per share for each period presented as they would be anti-dilutive.

Debt

Debt	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]	'
Debt	'
	Debt

	The following table sets forth information regarding the Company’s debt as of September 30, 2013, in thousands:


	Property		Principal		Interest Rate	Maturity Date
			Balance

	Courtyard Manhattan / Midtown East		$	41,635	8.81%	Oct-14

	Marriott Salt Lake City Downtown		27,401		5.50%	Jan-15

	Courtyard Manhattan / Fifth Avenue		49,742		6.48%	Jun-16

	Renaissance Worthington		54,035		5.40%	Jul-15

	Frenchman’s Reef & Morning Star Marriott Beach Resort		57,933		5.44%	Aug-15

	Marriott Los Angeles Airport		82,600		5.30%	Jul-15

	Orlando Airport Marriott		56,986		5.68%	Jan-16

	Chicago Marriott Downtown Magnificent Mile		209,208		5.98%	Apr-16

	Hilton Minneapolis		95,557		5.46%	May-21

	JW Marriott Denver at Cherry Creek		40,056		6.47%	Jul-15

	Lexington Hotel New York		170,368		LIBOR + 3.00% (3.183% at September 30, 2013)	March 2015 (1)

	Westin Washington D.C. City Center		72,858		3.99%	Jan-23

	The Lodge at Sonoma, a Renaissance Resort & Spa		30,784		3.96%	Apr-23

	Westin San Diego		70,503		3.94%	Apr-23

	Debt premium (2)		633

	Total mortgage debt		1,060,299


	Senior unsecured credit facility		—		LIBOR + 1.90% (2.15% at September 30, 2013)	January 2017 (3)

	Total debt		$	1,060,299

	Weighted-Average Interest Rate				5.24%
	_______________________

	-1	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.

	-2	Recorded upon our assumption of the JW Marriott Denver at Cherry Creek mortgage debt in 2011.

	-3	The credit facility may be extended for an additional year upon the payment of applicable fees and the satisfaction of certain customary conditions.

	Mortgage Debt

	We have incurred limited recourse, property specific mortgage debt secured by certain of our hotels. In the event of default, the lender may only foreclose on the secured assets; however, in the event of fraud, misapplication of funds or other customary recourse provisions, the lender may seek payment from us. As of September 30, 2013, 14 of our 27 hotels were secured by mortgage debt. Our mortgage debt contains certain property specific covenants and restrictions, including minimum debt service coverage ratios that trigger “cash trap” provisions as well as restrictions on incurring additional debt without lender consent.

	The Lexington Hotel New York mortgage loan contains a financial covenant requiring a minimum debt service coverage ratio ("DSCR"), as defined in the loan agreement, of 1.1 times. As of September 30, 2013, the DSCR was 0.7 times, as a result of the ongoing renovation at the hotel. Under the loan agreement, we have the ability to cure the default by depositing the amount of the DSCR shortfall, approximately$2.0 million, into a reserve with the lender. If we do not fund the DSCR shortfall and cure the default, the loan becomes due and payable. We will fund the DSCR shortfall and cure the default during the fourth quarter of 2013. The reserve will be released back to us when the DSCR is above 1.1 times for two consecutive quarters. In addition, as of June 30, 2013, the cash trap provision was triggered on the loan.

	As of September 30, 2013, we are in compliance with the covenants of our other mortgage debt.

	On October 24, 2013, we entered into a new $63 million mortgage loan secured by the Salt Lake City Marriott. The new loan has a term of seven years and bears interest at a fixed rate of 4.25%. As part of the financing, we prepaid the $27.3 million mortgage loan previously secured by the hotel through defeasance, which had a maturity date of January 2015. The cost to defease the loan was approximately $1.5 million.

Senior Unsecured Credit Facility

We are party to a $200 million unsecured credit facility, which expires in January 2017. The maturity date of the facility may be extended for an additional year upon the payment of applicable fees and the satisfaction of certain other customary conditions. We also have the right to increase the amount of the facility up to $400 million with lender approval. Interest is paid on the periodic advances under the facility at varying rates, based upon LIBOR, plus an agreed upon additional margin amount. The applicable margin is based upon the Company’s ratio of net indebtedness to EBITDA, as follows:



Ratio of Net Indebtedness to EBITDA		Applicable Margin
Less than 4.00 to 1.00		1.75	%
Greater than or equal to 4.00 to 1.00 but less than 5.00 to 1.00		1.9	%
Greater than or equal to 5.00 to 1.00 but less than 5.50 to 1.00		2.1	%
Greater than or equal to 5.50 to 1.00 but less than 6.00 to 1.00		2.2	%
Greater than or equal to 6.00 to 1.00 but less than 6.50 to 1.00		2.5	%
Greater than or equal to 6.50 to 1.00		2.75	%

In addition to the interest payable on amounts outstanding under the facility, we are required to pay an amount equal to 0.35% of the unused portion of the facility if the unused portion of the facility is greater than 50% or 0.25% if the unused portion of the facility is less than or equal to 50%.

The facility contains various corporate financial covenants. A summary of the most restrictive covenants is as follows:


			Actual at
	Covenant		September 30,
			2013
Maximum leverage ratio (1)	60%		43.00%
Minimum fixed charge coverage ratio (2)	1.50x		2.36x
Minimum tangible net worth (3)	$1.857 billion		$2.267 billion
Secured recourse indebtedness (4)	Less than 50% of Total Asset Value		39%
_____________________________

-1	Leverage ratio is total indebtedness, as defined in the credit agreement which includes our commitment on the Times Square development hotel, divided by total asset value, defined in the credit agreement as a) total cash and cash equivalents plus b) the value of our owned hotels based on hotel net operating income divided by a defined capitalization rate, and (c) the book value of the Allerton Loan.

-2	Fixed charge coverage ratio is Adjusted EBITDA, defined in the credit agreement as EBITDA less FF&E reserves, for the most recently ending 12 months, to fixed charges, defined in the credit agreement as interest expense, all regularly scheduled principal payments and payments on capitalized lease obligations, for the same most recently ending 12-month period.

-3	Tangible net worth, as defined in the credit agreement, is (i) total gross book value of all assets, exclusive of depreciation and amortization, less intangible assets, total indebtedness, and all other liabilities, plus (ii) 75% of net proceeds from future equity issuances.

-4	After December 31, 2013, the secured recourse indebtedness covenant threshold will decrease to 45% of Total Asset Value, as defined in the credit agreement.

The facility requires us to maintain a specific pool of unencumbered borrowing base properties. The unencumbered borrowing base assets must include a minimum of five properties with an unencumbered borrowing base value, as defined in the credit agreement, of not less than $250 million. As of September 30, 2013, the unencumbered borrowing base included six properties with a borrowing base value of $366 million.

As of September 30, 2013, we had no borrowings outstanding under the facility and the Company's ratio of net indebtedness to EBITDA was 4.6x. Accordingly, interest on any draws under the facility will be based on LIBOR plus 190 basis points for the next fiscal quarter. We incurred interest and unused credit facility fees on the facility of $0.2 million and $0.7 million for the fiscal quarters ended September 30, 2013 and September 7, 2012, respectively, and $0.7 million and $1.7 million for the periods from January 1, 2013 to September 30, 2013 and January 1, 2012 to September 7, 2012, respectively.

Discontinued_Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2013
Discontinued Operations and Disposal Groups [Abstract]	'
Discontinued Operations	'
	Discontinued Operations

	We sold four hotels during 2012 in two separate transactions. In March 2012, we sold a three-hotel portfolio, which consisted of the Griffin Gate Marriott Resort and Spa, the Renaissance Waverly, and the Renaissance Austin and in October 2012 we sold the Atlanta Westin North at Perimeter. The operating results of these hotels and the gain (loss) on the sales are reported in discontinued operations on the accompanying condensed consolidated statements of operations.

	The following table summarizes the components of discontinued operations in the condensed consolidated statements of operations for the periods presented (unaudited; in thousands, except per share data):


		Quarter Ended			Period from
		7-Sep-12			January 1, 2012 to September 7, 2012
	Hotel revenues	$	4,129		$	31,329

	Hotel operating expenses	(2,890		)	(23,254		)
	Operating income	1,239			8,075

	Depreciation and amortization	(449		)	(1,346		)
	Interest income	—			1

	Interest expense	—			(2,297		)

	Impairment loss	(14,690		)	(14,690		)
	(Loss) gain on sale of hotel properties	(336		)	9,541

	Income tax benefit (expense)	147			(189		)

	Loss from discontinued operations	$	(14,089	)	$	(905	)
	Basic and diluted loss from discontinued operations per share	$	(0.08	)	$	(0.00	)

	We have entered into an agreement to sell the 487-room Torrance Marriott South Bay to an unaffiliated third party for a contractual sales price of $74 million. The sale is expected to close during the fourth quarter of 2013, subject to the satisfaction of customary closing conditions. As of September 30, 2013, the hotel was not classified as held for sale as the buyer was still in its due diligence period and its deposit was refundable. Accordingly, the hotel is reported in continuing operations for all periods presented. Subsequent to September 30, 2013, the buyer completed its due diligence and its deposit has become non-refundable.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Fair Value of Financial Instruments	'
	Fair Value of Financial Instruments

	The fair value of certain financial assets and liabilities and other financial instruments as of September 30, 2013 and December 31, 2012, in thousands, are as follows:


		September 30, 2013				31-Dec-12
		Carrying		Fair Value		Carrying		Fair Value
		Amount				Amount
	Note receivable	$	49,356	$	64,500	$	53,792	$	57,000

	Debt	$	1,060,299	$	1,067,349	$	988,731	$	1,035,450


	The fair value of our mortgage debt is a Level 2 measurement under the fair value hierarchy (see Note 2). We estimate the fair value of our mortgage debt by discounting the future cash flows of each instrument at estimated market rates. The fair value of our note receivable is a Level 2 measurement under the fair value hierarchy. We estimate the fair value of our note receivable by discounting the future cash flows related to the note at estimated market rates. The underlying collateral of the note receivable has a fair value greater than the carrying value of the note receivable. The carrying value of our other financial instruments approximate fair value due to the short-term nature of these financial instruments.

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2013
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	Commitments and Contingencies

	Litigation

	We are subject to various claims, lawsuits and legal proceedings, including routine litigation arising in the ordinary course of business, regarding the operation of our hotels and company matters. While it is not possible to ascertain the ultimate outcome of such matters, management believes that the aggregate amount of such liabilities, if any, in excess of amounts covered by insurance will not have a material adverse impact on our financial condition or results of operations. The outcome of claims, lawsuits and legal proceedings brought against the Company, however, is subject to significant uncertainties.

	Performance Termination Provisions Under Management Agreements

	Our management agreements provide us with termination rights upon a manager's failure to meet certain financial performance criteria and decision not to cure the failure by making a cure payment. The Oak Brook Hills Marriott Resort, Orlando Airport Marriott, and the Hilton Garden Inn Chelsea/New York City each failed its performance test at the end of 2012. The following are the actions we have taken as a result of these performance test failures:


	•	Oak Brook Hills Marriott Resort: We terminated the management agreement effective in November 2013. We intend to enter into a short-term management agreement with another manager to operate the hotel as an independent hotel.

	•	Hilton Garden Inn Chelsea/New York City: We amended the management agreement to reduce the base management fee to 2% of gross revenues for the remainder of the term.

	•	Orlando Airport Marriott: We determined that no action would be taken.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Basis of Presentation	'
	Basis of Presentation

	We have condensed or omitted certain information and footnote disclosures normally included in financial statements presented in accordance with U.S. generally accepted accounting principles, or U.S. GAAP, in the accompanying unaudited condensed consolidated financial statements. We believe the disclosures made are adequate to prevent the information presented from being misleading. However, the unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto as of and for the year ended December 31, 2012, included in our Annual Report on Form 10-K filed on March 1, 2013.

	In our opinion, the accompanying unaudited condensed consolidated financial statements reflect all adjustments necessary to present fairly our financial position as of September 30, 2013 and the results of our operations for the fiscal quarters ended September 30, 2013 and September 7, 2012 and the periods from January 1, 2013 to September 30, 2013 and January 1, 2012 to September 7, 2012, and our cash flows for the periods from January 1, 2013 to September 30, 2013 and January 1, 2012 to September 7, 2012. Interim results are not necessarily indicative of full-year performance because of the impact of seasonal and short-term variations.

	Our financial statements include all of the accounts of the Company and its subsidiaries in accordance with U.S. GAAP. All intercompany accounts and transactions have been eliminated in consolidation. If the Company determines that it has an interest in a variable interest entity within the meaning of the FASB ASC 810, Consolidation, the Company will consolidate the entity when it is determined to be the primary beneficiary of the entity.
Change in Reporting Periods	'
	Change in Reporting Periods

	Effective January 1, 2013, we report quarterly operating results on a calendar cycle, which is now consistent with all of our hotel managers. We continue to report our annual financial statements on a calendar year basis. Historically, our quarterly operating results have been reported based on a 52-53 week fiscal calendar used by Marriott, the manager of 14 of our hotels. Beginning in 2013, Marriott converted to reporting results based on a 12-month calendar year. Previously, Marriott's fiscal year consisted of thirteen 4-week accounting periods, ended on the Friday closest to December 31, and included twelve weeks of operations for each of the first three quarters and sixteen weeks for the fourth quarter. Accordingly, our first three quarters in 2012 ended on March 23, June 15 and September 7. In contrast, the managers of our other hotels, such as Hilton, Starwood and other independent managers, reported results on a monthly basis. Our 2012 quarterly results of operations included results from our non-Marriott-managed hotels as follows: first quarter (January to February), second quarter (March to May), third quarter (June to August) and fourth quarter (September to December).

	The following table illustrates the change in our reporting periods:


	Quarter	2012 Reporting Calendar		2013 Reporting Calendar
	1st	Marriott-managed hotels	January 1 - March 23	All Hotels	January 1 - March 31
		Non-Marriott-managed hotels	January 1 - February 29
	2nd	Marriott-managed hotels	March 24 - June 15	All Hotels	April 1 - June 30
		Non-Marriott-managed hotels	March 1 - May 31
	3rd	Marriott-managed hotels	June 16 - September 7	All Hotels	July 1 - September 30
		Non-Marriott-managed hotels	June 1 - August 31
	4th	Marriott-managed hotels	September 8 - December 31	All Hotels	October 1 - December 31
		Non-Marriott-managed hotels	September 1 - December 31

	We will not restate the previously filed 2012 quarterly financial statements because Marriott did not provide us operating results for 2012 on a daily basis. Because we rely upon our hotel managers for the hotel operating results used in our financial statements, the unavailability of this information on a calendar quarter basis for 2012 made restating our financial statements unfeasible. Accordingly, our 2012 reported quarterly operating results are not comparable to our 2013 quarterly operating results.
Investment in Hotels	'
	Property and Equipment

	Investments in hotel properties, land, land improvements, building and furniture, fixtures and equipment and identifiable intangible assets are recorded at fair value upon acquisition. Property and equipment purchased after the hotel acquisition date is recorded at cost. Replacements and improvements are capitalized, while repairs and maintenance are expensed as incurred. Upon the sale or retirement of a fixed asset, the cost and related accumulated depreciation is removed from the Company’s accounts and any resulting gain or loss is included in the statements of operations.

	Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally 15 to 40 years for buildings, land improvements, and building improvements and 1 to 10 years for furniture, fixtures and equipment. Leasehold improvements are amortized over the shorter of the lease term or the useful lives of the related assets.

	We review our investments in hotel properties for impairment whenever events or changes in circumstances indicate that the carrying value of the hotel properties may not be recoverable. Events or circumstances that may cause a review include, but are not limited to, adverse changes in the demand for lodging at the properties due to declining national or local economic conditions and/or new hotel construction in markets where the hotels are located. When such conditions exist, management performs an analysis to determine if the estimated undiscounted future cash flows from operations and the proceeds from the ultimate disposition of a hotel, less costs to sell, exceed its carrying value. If the estimated undiscounted future cash flows are less than the carrying amount of the asset, an adjustment to reduce the carrying amount to the related hotel’s estimated fair market value is recorded and an impairment loss is recognized.

	We will classify a hotel as held for sale in the period that we have made the decision to dispose of the hotel, a binding agreement to purchase the property has been signed under which the buyer has committed a significant amount of nonrefundable cash and no significant financing or other contingencies exist which could cause the transaction to not be completed in a timely manner. If these criteria are met, we will record an impairment loss if the fair value less costs to sell is lower than the carrying amount of the hotel and related assets and will cease recording depreciation expense. We will classify the loss, together with the related operating results, as discontinued operations on the statements of operations and classify the assets and related liabilities as held for sale on the balance sheet.
Note Receivable	'
	Note Receivable

	Notes receivable are carried at cost, net of any premiums or discounts which are recognized as an adjustment of yield over the remaining life of the note using the effective interest rate method. Notes receivable are evaluated for collectability and if collectability of the original amounts due is in doubt, the value is adjusted for impairment. Our impairment analysis considers the anticipated cash receipts as well as the underlying value of the collateral. If collectability is in doubt, the note is placed in non-accrual status. No interest is recorded on such notes until the timing and amounts of cash receipts can be reasonably estimated. We record cash payments received on non-accrual notes receivable as a reduction in basis. We continually assess the current facts and circumstances to determine whether we can reasonably estimate cash flows. If we can reasonably estimate the timing and amount of cash flows to be collected, then income recognition becomes possible.
Revenue Recognition	'
	Revenue Recognition

	Revenues from operations of the hotels are recognized when the services are provided. Revenues consist of room sales, golf sales, food and beverage sales, and other hotel department revenues, such as telephone, parking, gift shop sales and resort fees.
Earnings (Loss) Per Share	'
	Earnings (Loss) Per Share

	Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding during the period plus other potentially dilutive securities such as equity awards or shares issuable in the event of conversion of operating partnership units. No adjustment is made for shares that are anti-dilutive during a period.
Comprehensive Income (Loss)	'
	Comprehensive Income (Loss)

	We do not have any items of comprehensive income (loss) other than net income (loss). If we do incur any additional items of comprehensive income (loss), such that a statement of comprehensive income would be necessary, such statement will be reported as one statement with the condensed consolidated statement of operations.
Stock-based Compensation	'

	Stock-based Compensation

	We account for stock-based employee compensation using the fair value based method of accounting. We record the cost of stock-based awards based on the grant-date fair value of the award. That cost is recognized over the period during which an employee is required to provide service in exchange for the award. No compensation cost is recognized for equity instruments for which employees do not render the requisite service.
Income Taxes	'

	Income Taxes

	We account for income taxes using the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities from a change in tax rates is recognized in earnings in the period when the new rate is enacted.

	We have elected to be treated as a REIT under the provisions of the Internal Revenue Code of 1986, as amended, which requires that we distribute at least 90% of our taxable income annually to our stockholders and comply with certain other requirements. In addition to paying federal and state taxes on any retained income, we may be subject to taxes on “built-in gains” on sales of certain assets. Our taxable REIT subsidiaries will generally be subject to federal, state, local, and/or foreign income taxes.

	In order for the income from our hotel property investments to constitute “rents from real properties” for purposes of the gross income tests required for REIT qualification, the income we earn cannot be derived from the operation of any of our hotels. Therefore, we lease each of our hotel properties to a wholly-owned subsidiary of Bloodstone TRS, Inc., our taxable REIT subsidiary, or TRS, except for the Frenchman’s Reef & Morning Star Marriott Beach Resort, which is owned by a Virgin Islands corporation, which we have elected to be treated as a TRS.
Fair Value Measurements	'
	Fair Value Measurements

	In evaluating fair value, U.S. GAAP outlines a valuation framework and creates a fair value hierarchy that distinguishes between market assumptions based on market data (observable inputs) and a reporting entity’s own assumptions about market data (unobservable inputs). The hierarchy ranks the quality and reliability of inputs used to determine fair value, which are then classified and disclosed in one of the three categories. The three levels are as follows:

	•Level 1 - Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities
	•Level 2 - Inputs include quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets in markets that are not active and model-derived valuations whose inputs are observable
	•Level 3 - Model-derived valuations with unobservable inputs
Intangible Assets and Liabilities	'
	Intangible Assets and Liabilities

	Intangible assets and liabilities are recorded on non-market contracts assumed as part of the acquisition of certain hotels. We review the terms of agreements assumed in conjunction with the purchase of a hotel to determine if the terms are favorable or unfavorable compared to an estimated market agreement at the acquisition date. Favorable lease assets or unfavorable contract liabilities are recorded at the acquisition date and amortized using the straight-line method over the term of the agreement. We do not amortize intangible assets with indefinite useful lives, but we review these assets for impairment annually or at interim periods if events or circumstances indicate that the asset may be impaired.
Straight-Line Rental Income and Expense	'
	Straight-Line Rental Income and Expense

	We record rental income and expense on a straight-line basis for leases that provide for minimum rental payments that increase in pre-established amounts over the remaining term of the lease.
Concentration of Credit Risk	'
	Concentration of Credit Risk

	Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of our note receivable and cash and cash equivalents. We perform periodic evaluations of the underlying hotel property securing the note receivable. See further discussion in Note 5. We maintain cash and cash equivalents with various financial institutions. We perform periodic evaluations of the relative credit standing of these financial institutions and limit the amount of credit exposure with any one institution.
Use of Estimates	'
	Use of Estimates

	The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Risks and Uncertainties	'
	Risks and Uncertainties

	The state of the overall economy can significantly impact hotel operational performance and thus, impact our financial position. Should any of our hotels experience a significant decline in operational performance, it may affect our ability to make distributions to our stockholders and service debt or meet other financial obligations.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	9 Months Ended
Summary of Significant Accounting Policies (Tables)	Sep. 30, 2013
Accounting Policies [Abstract]	'
Fiscal Period Change Table	'
	The following table illustrates the change in our reporting periods:


	Quarter	2012 Reporting Calendar		2013 Reporting Calendar
	1st	Marriott-managed hotels	January 1 - March 23	All Hotels	January 1 - March 31
		Non-Marriott-managed hotels	January 1 - February 29
	2nd	Marriott-managed hotels	March 24 - June 15	All Hotels	April 1 - June 30
		Non-Marriott-managed hotels	March 1 - May 31
	3rd	Marriott-managed hotels	June 16 - September 7	All Hotels	July 1 - September 30
		Non-Marriott-managed hotels	June 1 - August 31
	4th	Marriott-managed hotels	September 8 - December 31	All Hotels	October 1 - December 31
		Non-Marriott-managed hotels	September 1 - December 31

Property_and_Equipment_Tables

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2013
Property, Plant and Equipment [Abstract]	'
Property and equipment	'
	Property and equipment as of September 30, 2013 and December 31, 2012 consists of the following (in thousands):



		September 30, 2013			December 31, 2012
	Land	$	402,198		$	402,198

	Land improvements	7,994			7,994

	Buildings	2,369,198			2,360,648

	Furniture, fixtures and equipment	407,422			340,462

	CIP and corporate office equipment	20,566			19,873

		3,207,378			3,131,175

	Less: accumulated depreciation	(599,343		)	(519,721		)
		$	2,608,035		$	2,611,454

Favorable_Lease_Assets_Tables

Favorable Lease Assets (Tables)	9 Months Ended
	Sep. 30, 2013
Goodwill and Intangible Assets Disclosure [Abstract]	'
Schedule of Finite-Lived Intangible Assets by Major Class	'
	Our favorable lease assets, net of accumulated amortization, as of September 30, 2013 and December 31, 2012 consist of the following (in thousands):


		September 30, 2013		December 31, 2012
	Westin Boston Waterfront Ground Lease	$	18,564	$	18,726

	Westin Boston Waterfront - Lease Right	9,045		9,045

	Minneapolis Hilton Ground Lease	5,854		5,910

	Oak Brook Hills Marriott Resort Ground Lease	5,166		5,489

	Lexington Hotel New York Tenant Leases	1,212		1,323

	Hilton Boston Downtown Tenant Leases	353		479

		$	40,194	$	40,972

Capital_Stock_Tables

Capital Stock (Tables)	9 Months Ended
	Sep. 30, 2013
Equity [Abstract]	'
Schedule of Dividends Payable	'
	We have paid the following dividends to holders of our common stock during 2013 as follows:


	Payment Date	Record Date	Dividend
			per Share
	January 10, 2013	31-Dec-12	$	0.08

	April 12, 2013	28-Mar-13	$	0.085

	July 11, 2013	28-Jun-13	$	0.085

	October 10, 2013	30-Sep-13	$	0.085

Stock_Incentive_Plans_Tables

Stock Incentive Plans (Tables)	9 Months Ended
	Sep. 30, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Summary of Restricted Stock Awards	'
	A summary of our restricted stock awards from January 1, 2013 to September 30, 2013 is as follows:


		Number of		Weighted-
		Shares		Average Grant
				Date Fair
				Value
	Unvested balance at January 1, 2013	676,111		$	10.1

	Granted	301,806		9.18

	Additional shares from dividends	1,040		9.3

	Forfeited	(16,934	)	9.65

	Vested	(400,722	)	9.94

	Unvested balance at September 30, 2013	561,301		$	9.74

Summary of Stock Appreciation Rights and Dividend Equivalent Rights	'
	A summary of our MSUs from January 1, 2013 to September 30, 2013 is as follows:


		Number of		Weighted-
		Units		Average Grant
				Date Fair
				Value
	Unvested balance at January 1, 2013	258,842		$	11.31

	Additional units from dividends	5,104		9.75

	Vested	(90,620	)	9.86

	Unvested balance at September 30, 2013	173,326		$	12.02

Schedule of Nonvested Performance-based Units Activity	'
	A summary of our PSUs from January 1, 2013 to September 30, 2013 is as follows:


		Number of		Weighted-
		Units		Average Grant
				Date Fair
				Value
	Unvested balance at January 1, 2013	—		$	—

	Granted	217,949		9.64

	Additional units from dividends	3,504		10.09

	Unvested balance at September 30, 2013	221,453		$	9.65

Earnings_Loss_Per_Share_Tables

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Schedule of earnings (loss) per share, basic and diluted	'
	The following is a reconciliation of the calculation of basic and diluted earnings (loss) per share (in thousands, except share and per share data):


		Quarter Ended					Period from
	Numerator:	September 30, 2013		September 7, 2012			January 1, 2013 to September 30, 2013		January 1, 2012 to September 7, 2012
	Income (loss) from continuing operations	$	8,564	$	(30,690	)	$	19,509	$	(32,314	)

	Loss from discontinued operations	—		(14,089		)	—		(905		)

	Net income (loss)	$	8,564	$	(44,779	)	$	19,509	$	(33,219	)

	Denominator:
	Weighted-average number of common shares outstanding—basic	195,546,384		187,010,360			195,455,225		174,241,316

	Effect of dilutive securities:
	Unvested restricted common stock	151,878		—			119,848		—

	Shares related to unvested MSUs and PSUs	162,099		—			171,950		—

	Weighted-average number of common shares outstanding—diluted	195,860,361		187,010,360			195,747,023		174,241,316

	Basic earnings (loss) per share:

	Continuing operations	$	0.04	$	(0.16	)	$	0.1	$	(0.19	)

	Discontinued operations	—		(0.08		)	—		(0.00		)

	Total	$	0.04	$	(0.24	)	$	0.1	$	(0.19	)

	Diluted earnings (loss) per share:
	Continuing operations	$	0.04	$	(0.16	)	$	0.1	$	(0.19	)

	Discontinued operations	—		(0.08		)	—		(0.00		)

	Total	$	0.04	$	(0.24	)	$	0.1	$	(0.19	)

Debt_Tables

Debt (Tables)	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]	'
Summary of long term debt	'
	The following table sets forth information regarding the Company’s debt as of September 30, 2013, in thousands:


	Property		Principal		Interest Rate	Maturity Date
			Balance

	Courtyard Manhattan / Midtown East		$	41,635	8.81%	Oct-14

	Marriott Salt Lake City Downtown		27,401		5.50%	Jan-15

	Courtyard Manhattan / Fifth Avenue		49,742		6.48%	Jun-16

	Renaissance Worthington		54,035		5.40%	Jul-15

	Frenchman’s Reef & Morning Star Marriott Beach Resort		57,933		5.44%	Aug-15

	Marriott Los Angeles Airport		82,600		5.30%	Jul-15

	Orlando Airport Marriott		56,986		5.68%	Jan-16

	Chicago Marriott Downtown Magnificent Mile		209,208		5.98%	Apr-16

	Hilton Minneapolis		95,557		5.46%	May-21

	JW Marriott Denver at Cherry Creek		40,056		6.47%	Jul-15

	Lexington Hotel New York		170,368		LIBOR + 3.00% (3.183% at September 30, 2013)	March 2015 (1)

	Westin Washington D.C. City Center		72,858		3.99%	Jan-23

	The Lodge at Sonoma, a Renaissance Resort & Spa		30,784		3.96%	Apr-23

	Westin San Diego		70,503		3.94%	Apr-23

	Debt premium (2)		633

	Total mortgage debt		1,060,299


	Senior unsecured credit facility		—		LIBOR + 1.90% (2.15% at September 30, 2013)	January 2017 (3)

	Total debt		$	1,060,299

	Weighted-Average Interest Rate				5.24%
	_______________________

	-1	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.

	-2	Recorded upon our assumption of the JW Marriott Denver at Cherry Creek mortgage debt in 2011.

	-3	The credit facility may be extended for an additional year upon the payment of applicable fees and the satisfaction of certain customary conditions.
Summary of applicable margin based upon the Companyâ€™s ratio of net indebtedness to EBITDA	'
	The applicable margin is based upon the Company’s ratio of net indebtedness to EBITDA, as follows:



	Ratio of Net Indebtedness to EBITDA		Applicable Margin
	Less than 4.00 to 1.00		1.75	%
	Greater than or equal to 4.00 to 1.00 but less than 5.00 to 1.00		1.9	%
	Greater than or equal to 5.00 to 1.00 but less than 5.50 to 1.00		2.1	%
	Greater than or equal to 5.50 to 1.00 but less than 6.00 to 1.00		2.2	%
	Greater than or equal to 6.00 to 1.00 but less than 6.50 to 1.00		2.5	%
	Greater than or equal to 6.50 to 1.00		2.75	%
Summary of the most restrictive covenants for senior unsecured credit facility	'
	The facility contains various corporate financial covenants. A summary of the most restrictive covenants is as follows:


				Actual at
		Covenant		September 30,
				2013
	Maximum leverage ratio (1)	60%		43.00%
	Minimum fixed charge coverage ratio (2)	1.50x		2.36x
	Minimum tangible net worth (3)	$1.857 billion		$2.267 billion
	Secured recourse indebtedness (4)	Less than 50% of Total Asset Value		39%
	_____________________________

	-1	Leverage ratio is total indebtedness, as defined in the credit agreement which includes our commitment on the Times Square development hotel, divided by total asset value, defined in the credit agreement as a) total cash and cash equivalents plus b) the value of our owned hotels based on hotel net operating income divided by a defined capitalization rate, and (c) the book value of the Allerton Loan.

	-2	Fixed charge coverage ratio is Adjusted EBITDA, defined in the credit agreement as EBITDA less FF&E reserves, for the most recently ending 12 months, to fixed charges, defined in the credit agreement as interest expense, all regularly scheduled principal payments and payments on capitalized lease obligations, for the same most recently ending 12-month period.

	-3	Tangible net worth, as defined in the credit agreement, is (i) total gross book value of all assets, exclusive of depreciation and amortization, less intangible assets, total indebtedness, and all other liabilities, plus (ii) 75% of net proceeds from future equity issuances.

	-4	After December 31, 2013, the secured recourse indebtedness covenant threshold will decrease to 45% of Total Asset Value, as defined in the credit agreement.

Discontinued_Operations_Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2013
Discontinued Operations and Disposal Groups [Abstract]	'
Summary of results of income (loss) from discontinued operations	'
	The following table summarizes the components of discontinued operations in the condensed consolidated statements of operations for the periods presented (unaudited; in thousands, except per share data):


		Quarter Ended			Period from
		7-Sep-12			January 1, 2012 to September 7, 2012
	Hotel revenues	$	4,129		$	31,329

	Hotel operating expenses	(2,890		)	(23,254		)
	Operating income	1,239			8,075

	Depreciation and amortization	(449		)	(1,346		)
	Interest income	—			1

	Interest expense	—			(2,297		)

	Impairment loss	(14,690		)	(14,690		)
	(Loss) gain on sale of hotel properties	(336		)	9,541

	Income tax benefit (expense)	147			(189		)

	Loss from discontinued operations	$	(14,089	)	$	(905	)
	Basic and diluted loss from discontinued operations per share	$	(0.08	)	$	(0.00	)

	We have entered into an agreement to sell the 487-room Torrance Marriott South Bay to an unaffiliated third party for a contractual sales price of $74 million. The sale is expected to close during the fourth quarter of 2013, subject to the satisfaction of customary closing conditions. As of September 30, 2013, the hotel was not classified as held for sale as the buyer was still in its due diligence period and its deposit was refundable. Accordingly, the hotel is reported in continuing operations for all periods presented. Subsequent to September 30, 2013, the buyer completed its due diligence and its deposit has become non-refundable.

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Fair value of certain financial assets and liabilities and other financial instruments	'
	The fair value of certain financial assets and liabilities and other financial instruments as of September 30, 2013 and December 31, 2012, in thousands, are as follows:


		September 30, 2013				31-Dec-12
		Carrying		Fair Value		Carrying		Fair Value
		Amount				Amount
	Note receivable	$	49,356	$	64,500	$	53,792	$	57,000

	Debt	$	1,060,299	$	1,067,349	$	988,731	$	1,035,450

Organization_Details

Organization (Details)	Sep. 30, 2013
	rooms
	Hotel
Real Estate Properties [Line Items]	'
Number Of Hotel (in hotels)	27
Number of rooms in hotels, resorts and senior loan secured facility (in rooms)	11,608
Number of rooms in senior loan secured facility (in rooms)	443
Maximum [Member] \| Times Square 42nd St [Member]	'
Real Estate Properties [Line Items]	'
Number Of Rooms In Hotel Under Development	282
Atlanta, Georgia [Member]	'
Real Estate Properties [Line Items]	'
Number Of Hotel (in hotels)	1
Boston, Massachusetts [Member]	'
Real Estate Properties [Line Items]	'
Number Of Hotel (in hotels)	2
Burlington, Vermont [Member]	'
Real Estate Properties [Line Items]	'
Number Of Hotel (in hotels)	1
Charleston, South Carolina [Member]	'
Real Estate Properties [Line Items]	'
Number Of Hotel (in hotels)	1
Chicago, Illinois [Member]	'
Real Estate Properties [Line Items]	'
Number Of Hotel (in hotels)	2
Fort Worth, Texas [Member]	'
Real Estate Properties [Line Items]	'
Number Of Hotel (in hotels)	1
Minneapolis, Minnesota [Member]	'
Real Estate Properties [Line Items]	'
Number Of Hotel (in hotels)	1
Denver, Colorado [Member]	'
Real Estate Properties [Line Items]	'
Number Of Hotel (in hotels)	2
Oak Brook, Illinois [Member]	'
Real Estate Properties [Line Items]	'
Number Of Hotel (in hotels)	1
Orlando, Florida [Member]	'
Real Estate Properties [Line Items]	'
Number Of Hotel (in hotels)	1
Salt Lake City, Utah [Member]	'
Real Estate Properties [Line Items]	'
Number Of Hotel (in hotels)	1
San Diego, California [Member]	'
Real Estate Properties [Line Items]	'
Number Of Hotel (in hotels)	1
Los Angeles, California [Member]	'
Real Estate Properties [Line Items]	'
Number Of Hotel (in hotels)	2
New York, New York [Member]	'
Real Estate Properties [Line Items]	'
Number Of Hotel (in hotels)	4
Vail, Colorado [Member]	'
Real Estate Properties [Line Items]	'
Number Of Hotel (in hotels)	1
San Francisco, California [Member]	'
Real Estate Properties [Line Items]	'
Number Of Hotel (in hotels)	1
Sonoma, California [Member]	'
Real Estate Properties [Line Items]	'
Number Of Hotel (in hotels)	1
St. Thomas, U.S. Virgin Islands [Member]	'
Real Estate Properties [Line Items]	'
Number Of Hotel (in hotels)	1
Washington D.C [Member]	'
Real Estate Properties [Line Items]	'
Number Of Hotel (in hotels)	2

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013
			Furniture, Fixtures and Equipment [Member]	Minimum [Member]	Minimum [Member]	Maximum [Member]	Marriott [Member]
				Buildings, Land Improvements, and Building Improvements [Member]	Furniture, Fixtures and Equipment [Member]	Buildings, Land Improvements, and Building Improvements [Member]	Hotel
Number of Hotels Managed	'	'	'	'	'	'	14
Useful life	'	'	'10 years	'15 years	'1 year	'40 years	'
Unrecognized Tax Benefits	$0	$0	'	'	'	'	'

Property_and_Equipment_Details

Property and Equipment (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Property and Equipment	'	'
Property and equipment, at cost	$3,207,378,000	$3,131,175,000
Less: accumulated depreciation	-599,343,000	-519,721,000
Property and equipment, net	2,608,035,000	2,611,454,000
Other accrued liabilities	3,900,000	3,000,000
Land [Member]	'	'
Property and Equipment	'	'
Property and equipment, at cost	402,198,000	402,198,000
Land improvements [Member]	'	'
Property and Equipment	'	'
Property and equipment, at cost	7,994,000	7,994,000
Buildings [Member]	'	'
Property and Equipment	'	'
Property and equipment, at cost	2,369,198,000	2,360,648,000
Furniture, fixtures, and equipment [Member]	'	'
Property and Equipment	'	'
Property and equipment, at cost	407,422,000	340,462,000
CIP and corporate office equipment [Member]	'	'
Property and Equipment	'	'
Property and equipment, at cost	$20,566,000	$19,873,000

Favorable_Lease_Assets_Details

Favorable Lease Assets (Details) (USD $)	9 Months Ended
Favorable Lease Assets (Details) (USD $)	Sep. 07, 2012	Sep. 30, 2013	Dec. 31, 2012
Indefinite-lived Intangible Assets by Major Class [Line Items]	'	'	'
Favorable lease assets, net	'	$40,194,000	$40,972,000
Favorable Lease Assets (Textuals) [Abstract]	'	'	'
Finite-lived intangible assets, amortization expense	'	800,000	'
Impairment of favorable lease asset	500,000	'	'
Boston Westin Waterfront Ground Lease [Member]	'	'	'
Indefinite-lived Intangible Assets by Major Class [Line Items]	'	'	'
Carrying amount of the lease right	'	18,564,000	18,726,000
Boston Westin Waterfront Lease Right [Member]	'	'	'
Indefinite-lived Intangible Assets by Major Class [Line Items]	'	'	'
Nonamortizable intangible asset	'	9,045,000	9,045,000
Favorable Lease Assets (Textuals) [Abstract]	'	'	'
Impairment of favorable lease asset	'	0	'
Boston Westin Waterfront Lease Right [Member] \| Minimum [Member]	'	'	'
Favorable Lease Assets (Textuals) [Abstract]	'	'	'
Number of room hotel for development for which favorable lease assets are owned (in rooms)	'	320	'
Boston Westin Waterfront Lease Right [Member] \| Maximum [Member]	'	'	'
Favorable Lease Assets (Textuals) [Abstract]	'	'	'
Number of room hotel for development for which favorable lease assets are owned (in rooms)	'	350	'
Minneapolis Hilton Ground Lease [Member]	'	'	'
Indefinite-lived Intangible Assets by Major Class [Line Items]	'	'	'
Carrying amount of the lease right	'	5,854,000	5,910,000
Oak Brook Hills Marriot Resort Ground Lease [Member]	'	'	'
Indefinite-lived Intangible Assets by Major Class [Line Items]	'	'	'
Carrying amount of the lease right	'	5,166,000	5,489,000
Lexington Hotel New York Tenant Leases [Member]	'	'	'
Indefinite-lived Intangible Assets by Major Class [Line Items]	'	'	'
Carrying amount of the lease right	'	1,212,000	1,323,000
Hilton Boston Downtown Tenant Leases [Member]	'	'	'
Indefinite-lived Intangible Assets by Major Class [Line Items]	'	'	'
Carrying amount of the lease right	'	$353,000	$479,000

Note_Receivable_Details

Note Receivable (Details) (USD $)	3 Months Ended		9 Months Ended		0 Months Ended	3 Months Ended		9 Months Ended	12 Months Ended
	Sep. 30, 2013	Sep. 07, 2012	Sep. 07, 2012	Sep. 30, 2013	Jan. 18, 2013	Sep. 30, 2013	Jun. 30, 2013	Sep. 30, 2013	Dec. 31, 2012
	rooms	Sep. 07, 2012	Sep. 07, 2012	rooms	New Allerton Loans [Member]	New Allerton Loans [Member]	New Allerton Loans [Member]	New Allerton Loans [Member]	New Allerton Loans [Member]
Note Receivable (Textuals) [Abstract]	'	'	'	'	'	'	'	'	'
Number of rooms in senior loan secured facility (in rooms)	443	'	'	443	'	'	'	'	'
Mortgage Loans on Real Estate, Collections of Principal	'	'	'	'	$5,000,000	'	'	'	'
Mortgage amount	'	'	'	'	66,000,000	'	'	'	'
Mortgage Loans on Real Estate, Loan Term	'	'	'	'	'4 years	'	'	'	'
Mortgage Loans on Real Estate, Extension Option Term	'	'	'	'	'1 year	'	'	'	'
Percentage points of default blended interest rate basis points (as a percent)	'	'	'	'	5.50%	'	'	'	'
Mortgage Loans on Real Estate, Loan Amortization Term	'	'	'	'	'30 years	'	'	'	'
Mortgage loan principal payments	'	'	551,000	6,574,000	'	'	1,500,000	'	'
Investment Income, Interest	1,660,000	60,000	278,000	4,604,000	'	1,600,000	'	4,400,000	0
Amortization of note receivable discount as interest income	$700,000	'	$0	$1,892,000	'	'	'	'	'

Capital_Stock_Details

Capital Stock (Details) (USD $)	0 Months Ended							9 Months Ended	0 Months Ended
	Aug. 05, 2013	Jul. 11, 2013	Jun. 28, 2013	Apr. 12, 2013	Mar. 28, 2013	Jan. 10, 2013	Dec. 31, 2012	Sep. 30, 2013	Oct. 10, 2013	Sep. 30, 2013
	Aug. 05, 2013	Jul. 11, 2013	Jun. 28, 2013	Apr. 12, 2013	Mar. 28, 2013	Jan. 10, 2013	Dec. 31, 2012	Sep. 30, 2013	Subsequent Event [Member]	Subsequent Event [Member]
Equity [Abstract]	'	'	'	'	'	'	'	'	'	'
Common stock, shares authorized	'	'	'	'	'	'	400,000,000	400,000,000	'	'
Common stock, par value (in dollars per share)	'	'	'	'	'	'	$0.01	$0.01	'	'
Stock repurchase program authorized amount	$100,000,000	'	'	'	'	'	'	'	'	'
Preferred stock, shares authorized	'	'	'	'	'	'	10,000,000	10,000,000	'	'
Preferred stock, par value (in dollars per share)	'	'	'	'	'	'	$0.01	$0.01	'	'
Preferred Stock, shares outstanding	'	'	'	'	'	'	0	0	'	'
Operating Partnership Units Option To Redeem For Common Stock Ratio	'	'	'	'	'	'	'	1	'	'
Units of Partnership Interest, Amount	'	'	'	'	'	'	0	0	'	'
Subsequent Event [Line Items]	'	'	'	'	'	'	'	'	'	'
Payment Date	'	11-Jul-13	'	12-Apr-13	'	10-Jan-13	'	'	10-Oct-13	'
Record Date	'	'	28-Jun-13	'	28-Mar-13	'	31-Dec-12	'	'	30-Sep-13
Dividends per Share (in dollars per share)	'	$0.09	'	$0.09	'	$0.08	'	'	$0.09	'

Stock_Incentive_Plans_Details

Stock Incentive Plans (Details) (USD $)	3 Months Ended		9 Months Ended
In Millions, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 07, 2012	Sep. 07, 2012	Sep. 30, 2013
Stock Options [Member]	'	'	'	'
Stock Incentive Plans (Textuals) [Abstract]	'	'	'	'
Stock option and Incentive plan, shares authorized	8,000,000	'	'	8,000,000
Number of Shares Issued or Committed to Issue	3,457,829	'	'	3,457,829
Restricted Stock [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]	'	'	'	'
Number of shares, Beginning Balance	'	'	'	676,111
Number of shares, Granted	'	'	'	301,806
Number of shares, Additional shares from dividends	'	'	'	1,040
Number of shares, Forfeited	'	'	'	-16,934
Number of shares, Vested	'	'	'	-400,722
Number of shares, Ending Balance	561,301	'	'	561,301
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]	'	'	'	'
Weighted-average grant date fair value, Beginning balance (in dollars per share)	'	'	'	$10.10
Weighted-average grant date fair value, Granted (in dollars per share)	'	'	'	$9.18
Weighted-average grant date fair value, Additional shares from dividends (in dollars per share)	'	'	'	$9.30
Weighted-average grant date fair value, Forfeited	'	'	'	$9.65
Weighted-average grant date fair value, Vested (in dollars per share)	'	'	'	$9.94
Weighted-average grant date fair value, Ending balance (in dollars per share)	$9.74	'	'	$9.74
Stock Incentive Plans (Textuals) [Abstract]	'	'	'	'
Award vesting period	'	'	'	'3 years
Restricted Stock Awards Expected to Vest Two Years from Balance Sheet Date (in shares)	270,440	'	'	270,440
Restricted Stock Awards Expected to Vest Three Years from Balance Sheet Date (in shares)	193,200	'	'	193,200
Restricted Stock Awards Expected to Vest Four Years from Balance Sheet Date (in shares)	97,661	'	'	97,661
Unrecognized compensation cost (in dollars)	$3.90	'	'	$3.90
Unrecognized compensation expense related to compensation awards, period for recognition (in months)	'	'	'	'23 months
Compensation expense (in dollars)	0.7	0.8	2.3	2.7
Compensation Expense Related to Accelerated Vesting of Awards in Connection with Retirement	'	'	'	0.7
Market Stock Units [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]	'	'	'	'
Number of shares, Beginning Balance	'	'	'	258,842
Number of Units, Additional units from dividends	'	'	'	5,104
Number of shares, Vested	'	'	'	-90,620
Number of shares, Ending Balance	173,326	'	'	173,326
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]	'	'	'	'
Weighted-average grant date fair value, Beginning balance (in dollars per share)	'	'	'	$11.31
Weighted-Average Grant Date Fair Value, Additional units from dividends, Weighted Average Grant Date Fair Value	'	'	'	$9.75
Weighted-average grant date fair value, Vested (in dollars per share)	'	'	'	$9.86
Weighted-average grant date fair value, Ending balance (in dollars per share)	$12.02	'	'	$12.02
Stock Incentive Plans (Textuals) [Abstract]	'	'	'	'
Award vesting period	'	'	'	'3 years
Unrecognized compensation cost (in dollars)	0.5	'	'	0.5
Unrecognized compensation expense related to compensation awards, period for recognition (in months)	'	'	'	'14 months
Compensation expense (in dollars)	0.1	0.2	0.6	0.7
Compensation Expense Related to Accelerated Vesting of Awards in Connection with Retirement	'	'	'	0.2
Performance Stock Units [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]	'	'	'	'
Number of shares, Beginning Balance	'	'	'	0
Number of Units, Additional units from dividends	'	'	'	3,504
Number of shares, Granted	'	'	'	217,949
Number of shares, Ending Balance	221,453	'	'	221,453
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]	'	'	'	'
Weighted-average grant date fair value, Beginning balance (in dollars per share)	'	'	'	$0
Weighted-Average Grant Date Fair Value, Additional units from dividends, Weighted Average Grant Date Fair Value	'	'	'	$10.09
Weighted-average grant date fair value, Granted (in dollars per share)	'	'	'	$9.64
Weighted-average grant date fair value, Ending balance (in dollars per share)	$9.65	'	'	$9.65
Stock Incentive Plans (Textuals) [Abstract]	'	'	'	'
Award vesting period	'	'	'	'3 years
Unrecognized compensation cost (in dollars)	1.7	'	'	1.7
Unrecognized compensation expense related to compensation awards, period for recognition (in months)	'	'	'	'29 months
Compensation expense (in dollars)	$0.20	'	'	$0.40
No Payout of Shares of Common Stock if Total Stockholder Return Falls Below Threshold	'	'	'	30.00%
Maximum Possible Payout to Executive Officer as a Percentage of the Target Award (as a percent)	'	'	'	150.00%
Maximum Possible Payout to Executive Officer as a Percentage of the Target Award, Percentile of Total Stockholder Return of Peer Group	'	'	'	75.00%

Earnings_Loss_Per_Share_Calcul

Earnings (Loss) Per Share, Calculation of EPS (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 07, 2012	Sep. 07, 2012	Sep. 30, 2013
Numerator:	'	'	'	'
Income (loss) from continuing operations	$8,564	($30,690)	($32,314)	$19,509
Loss from discontinued operations	0	-14,089	-905	0
Net income (loss)	$8,564	($44,779)	($33,219)	$19,509
Denominator:	'	'	'	'
Weighted-average number of common shares outstandingâ€”basic	195,546,384	187,010,360	174,241,316	195,455,225
Weighted-average number of common shares outstandingâ€”diluted	195,860,361	187,010,360	174,241,316	195,747,023
Basic earnings (loss) per share:	'	'	'	'
Continuing operations (in dollars per share)	$0.04	($0.16)	($0.19)	$0.10
Discontinued operations (in dollars per share)	$0	($0.08)	$0	$0
Total (in dollars per share)	$0.04	($0.24)	($0.19)	$0.10
Diluted earnings (loss) per share:	'	'	'	'
Continuing operations (in dollars per share)	$0.04	($0.16)	($0.19)	$0.10
Discontinued operations (in dollars per share)	$0	($0.08)	$0	$0
Total (in dollars per share)	$0.04	($0.24)	($0.19)	$0.10
Unvested restricted common stock [Member]	'	'	'	'
Denominator:	'	'	'	'
Unvested Stock/SARs/MSUs	151,878	0	0	119,848
Shares related to unvested MSUs [Member]	'	'	'	'
Denominator:	'	'	'	'
Unvested Stock/SARs/MSUs	162,099	0	0	171,950

Earnings_Loss_Per_Share_Anti_D

Earnings (Loss) Per Share, Anti Dilutive (Details) (Unexercised stock appreciation rights [Member])	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 07, 2012	Sep. 07, 2012	Sep. 30, 2013
Unexercised stock appreciation rights [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	262,461	262,461	262,461	262,461

Schedule_of_Long_Term_Debt_Det

(Schedule of Long Term Debt) (Details) (USD $)

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

In Thousands, unless otherwise specified

Courtyard Manhattan / Midtown East [Member]

Marriott Salt Lake City Downtown [Member]

Courtyard Manhattan / Fifth Avenue [Member]

Renaissance Worthington [Member]

Frenchman's Reef & Morning Star Marriott Beach [Member]

Marriott Los Angeles Airport [Member]

Orlando Airport Marriott [Member]

Chicago Marriott Downtown Magnificent Mile [Member]

Hilton Minneapolis [Member]

JW Marriot Denver at Cherry Creek [Member]

Lexington Hotel New York [Member]

Westin Washington, D.C. City Center [Member]

The Lodge at Sonoma, a Renaissance Resort and Spa [Member]

Westin San Diego [Member]

Senior unsecured credit facility [Member]

Extensions

LIBOR [Member]

Debt Instrument [Line Items]

Long Term Debt Components Mortgage Loan

$1,060,299

$41,635

$27,401

$49,742

$54,035

$57,933

$82,600

$56,986

$209,208

$95,557

$40,056

$170,368

[1]

$72,858

$30,784

$70,503

Interest rate

8.81%

5.50%

6.48%

5.40%

5.44%

5.30%

5.68%

5.98%

5.46%

6.47%

3.99%

3.96%

3.94%

Debt Instrument, Description of Variable Rate Basis

'LIBOR + 3.00% (3.183% at September 30, 2013)

[1]

Debt premium

633

[2]

Long-term Line of Credit

20,000

[3]

Long-term Debt

$1,060,299

$988,731

Basis spread on variable rate

3.00%

[1]

1.90%

[3]

Line of Credit Facility, Interest Rate Description

'LIBOR + 1.90% (2.15% at September 30, 2013)

[3]

Line of Credit Facility, Interest Rate at Period End (as a percent)

2.15%

[3]

Debt Instrument, Interest Rate at Period End (as a percent)

3.18%

[1]

Weighted - Average Interest Rate (as a percent)

5.24%

Number of One Year extensions

[1]

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.

[2]

Recorded upon our assumption of the JW Marriott Denver at Cherry Creek mortgage debt in 2011.

[3]

The credit facility may be extended for an additional year upon the payment of applicable fees and the satisfaction of certain customary conditions.

Debt_Mortgage_Debt_Details

Debt (Mortgage Debt) (Details) (USD $)	Sep. 30, 2013	Oct. 24, 2013	Sep. 30, 2013	Sep. 30, 2013	Oct. 24, 2013
In Millions, unless otherwise specified	Hotel	First Mortgage [Member]	Lexington Hotel New York [Member]	Marriott Salt Lake City Downtown [Member]	Marriott Salt Lake City Downtown [Member]
		Subsequent Event [Member]	quarter		Subsequent Event [Member]
		Mortgage Loans over $1,000,000 [Member]			Mortgages [Member]
		Marriott Salt Lake City Downtown [Member]
Debt Instrument [Line Items]	'	'	'	'	'
Number of hotel properties secured by mortgage debt (in hotels)	14	'	'	'	'
Number of Rooms Acquired under Leasehold Interest (in hotels)	27	'	'	'	'
Minimum debt service coverage ratio	'	'	1.1	'	'
Debt service coverage ratio	'	'	0.7	'	'
Collateral required to cure default	'	'	$2	'	'
Number of quarters to exceed DSCR to release collateral	'	'	2	'	'
Mortgage amount	'	63	'	'	'
Mortgage term	'	'	'	'	'7 years
Interest rate	'	'	'	5.50%	4.25%
Repayment of first mortgage	'	'	'	'	27.3
Loss on defeasance	'	'	'	'	$1.50

Debt_Senior_Unsecured_Credit_F

Debt (Senior Unsecured Credit Facility) (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 07, 2012	Sep. 07, 2012	Sep. 30, 2013
	Sep. 30, 2013	Sep. 07, 2012	Sep. 07, 2012	Hotel
Line of Credit Facility [Line Items]	'	'	'	'
Line of Credit Facility, Maximum Borrowing Capacity	$200,000,000	'	'	$200,000,000
Increase in Credit Facility	400,000,000	'	'	400,000,000
Unused credit facility payments description	'	'	'	'In addition to the interest payable on amounts outstanding under the facility, we are required to pay an amount equal to 0.40% of the unused portion of the facility if the unused portion of the facility is greater than 50% or 0.30% if the unused portion of the facility is less than or equal to 50%.
Percent of Net Proceeds from Future Equity Issuances (as a percent)	'	'	'	75.00%
Minimum number of unencumbered borrowing base (in properties)	'	'	'	5
Line of Credit Facility Minimum Unencumbered Borrowing Base Value	'	'	'	250,000,000
Number of unencumbered borrowing base properties	'	'	'	6
Unencumbered borrowing base value	'	'	'	366,000,000
Outstanding borrowings of Credit Facility	0	'	'	0
Line Of Credit Facility Leverage Ratio	'	'	'	4.6
Interest and unused credit facility fees	$200,000	$700,000	$1,700,000	$700,000
Debt Instrument, Secured Recourse Indebtedness Ratio After December 31st, 2013 [Member]	'	'	'	'
Line of Credit Facility [Line Items]	'	'	'	'
Debt Instrument, Secured Recourse Indebtedness Ratio	'	'	'	45.00%

Schedule_of_Ratio_of_Net_Indeb

(Schedule of Ratio of Net Indebtedness) (Details)	9 Months Ended
(Schedule of Ratio of Net Indebtedness) (Details)	Sep. 30, 2013
Line Of Credit Facility Leverage Range [Line Items]	'
Percent of unused portion line of credit facility triggering lower commitment fee (as a percent)	50.00%
Less than 4.00 to 1.00 [Member]	'
Summary of leverage and applicable margin	'
Line Of Credit Facility Leverage Rate Description	'Less than 4.00 to 1.00
Line of credit facility applicable margin rate	1.75%
Greater than or equal to 4.00 to 1.00 but less than 5.00 to 1.00 [Member]	'
Summary of leverage and applicable margin	'
Line Of Credit Facility Leverage Rate Description	'Greater than or equal to 4.00 to 1.00 but less than 5.00 to 1.00
Line of credit facility applicable margin rate	1.90%
Greater than or equal to 5.00 to 1.00 but less than 5.50 to 1.00 [Member]	'
Summary of leverage and applicable margin	'
Line Of Credit Facility Leverage Rate Description	'Greater than or equal to 5.00 to 1.00 but less than 5.50 to 1.00
Line of credit facility applicable margin rate	2.10%
Greater than or equal to 5.50 to 1.00 but less than 6.00 to 1.00 [Member]	'
Summary of leverage and applicable margin	'
Line Of Credit Facility Leverage Rate Description	'Greater than or equal to 5.50 to 1.00 but less than 6.00 to 1.00
Line of credit facility applicable margin rate	2.20%
Greater than or equal to 6.00 to 1.00 [Member]	'
Summary of leverage and applicable margin	'
Line Of Credit Facility Leverage Rate Description	'Greater than or equal to 6.00 to 1.00 but less than 6.50 to 1.00
Line of credit facility applicable margin rate	2.50%
Greater than or equal to 6.50 to 1.00 [Member]	'
Summary of leverage and applicable margin	'
Line Of Credit Facility Leverage Rate Description	'Greater than or equal to 6.50 to 1.00
Line of credit facility applicable margin rate	2.75%
Minimum [Member]	'
Line Of Credit Facility Leverage Range [Line Items]	'
Line of credit facility, unused capacity, commitment fee (as a percent)	0.35%
Minimum [Member] \| Greater than or equal to 4.00 to 1.00 but less than 5.00 to 1.00 [Member]	'
Summary of leverage and applicable margin	'
Ratio of net indebtedness to EBITDA (as a percent)	4
Minimum [Member] \| Greater than or equal to 5.00 to 1.00 but less than 5.50 to 1.00 [Member]	'
Summary of leverage and applicable margin	'
Ratio of net indebtedness to EBITDA (as a percent)	5
Minimum [Member] \| Greater than or equal to 5.50 to 1.00 but less than 6.00 to 1.00 [Member]	'
Summary of leverage and applicable margin	'
Ratio of net indebtedness to EBITDA (as a percent)	5.5
Minimum [Member] \| Greater than or equal to 6.00 to 1.00 [Member]	'
Summary of leverage and applicable margin	'
Ratio of net indebtedness to EBITDA (as a percent)	6
Minimum [Member] \| Greater than or equal to 6.50 to 1.00 [Member]	'
Summary of leverage and applicable margin	'
Ratio of net indebtedness to EBITDA (as a percent)	6.5
Maximum [Member]	'
Line Of Credit Facility Leverage Range [Line Items]	'
Line of credit facility, unused capacity, commitment fee (as a percent)	0.25%
Maximum [Member] \| Less than 4.00 to 1.00 [Member]	'
Summary of leverage and applicable margin	'
Ratio of net indebtedness to EBITDA (as a percent)	4
Maximum [Member] \| Greater than or equal to 4.00 to 1.00 but less than 5.00 to 1.00 [Member]	'
Summary of leverage and applicable margin	'
Ratio of net indebtedness to EBITDA (as a percent)	5
Maximum [Member] \| Greater than or equal to 5.00 to 1.00 but less than 5.50 to 1.00 [Member]	'
Summary of leverage and applicable margin	'
Ratio of net indebtedness to EBITDA (as a percent)	5.5
Maximum [Member] \| Greater than or equal to 5.50 to 1.00 but less than 6.00 to 1.00 [Member]	'
Summary of leverage and applicable margin	'
Ratio of net indebtedness to EBITDA (as a percent)	6

Debt_Schedule_of_Debt_Covenant

Debt, Schedule of Debt Covenants (Details) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013
Line Of Credit Facility Covenant [Member]	'
Line of Credit Facility [Line Items]	'
Maximum Leverage Ratio (as a percent)	0.6	[1]
Minimum fixed charge coverage ratio	150.00%	[2]
Minimum tangible net worth	$1,857	[3]
Secured recourse indebtedness ratio	50.00%	[4]
Line Of Credit Facility Covenant Actual Results [Member]	'
Line of Credit Facility [Line Items]	'
Maximum Leverage Ratio (as a percent)	0.43	[1]
Minimum fixed charge coverage ratio	236.00%	[2]
Minimum tangible net worth	$2,267	[3]
Secured recourse indebtedness ratio	39.00%	[4]

[1]	Leverage ratio is total indebtedness, as defined in the credit agreement which includes our commitment on the Times Square development hotel, divided by total asset value, defined in the credit agreement as a) total cash and cash equivalents plus b) the value of our owned hotels based on hotel net operating income divided by a defined capitalization rate, and (c)Â the book value of the Allerton Loan.
[2]	Fixed charge coverage ratio is Adjusted EBITDA, defined in the credit agreement as EBITDA less FF&E reserves, for the most recently ending 12 months, to fixed charges, defined in the credit agreement as interest expense, all regularly scheduled principal payments and payments on capitalized lease obligations, for the same most recently ending 12-month period.
[3]	Tangible net worth, as defined in the credit agreement, is (i)Â total gross book value of all assets, exclusive of depreciation and amortization, less intangible assets, total indebtedness, and all other liabilities, plus (ii)Â 75% of net proceeds from future equity issuances.
[4]	After December 31, 2013, the secured recourse indebtedness covenant threshold will decrease to 45% of Total Asset Value, as defined in the credit agreement.

Discontinued_Operations_Detail

Discontinued Operations (Details) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2013	Sep. 07, 2012	Sep. 07, 2012	Sep. 30, 2013	Dec. 31, 2012	Mar. 23, 2012
	rooms			rooms	Transaction	Hotel
					Hotel
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'	'	'
Number of hotels sold (in hotels)	'	'	'	'	4	'
Number of transactions related to hotel sold (in transactions)	'	'	'	'	2	'
Number of hotel portfolio properties sold (in hotels)	'	'	'	'	'	3
Hotel revenues	'	$4,129,000	$31,329,000	'	'	'
Hotel operating expenses	'	-2,890,000	-23,254,000	'	'	'
Operating income	'	1,239,000	8,075,000	'	'	'
Depreciation and amortization	'	-449,000	-1,346,000	'	'	'
Interest income	'	0	1,000	'	'	'
Interest expense	'	0	-2,297,000	'	'	'
Impairment loss	'	-14,690,000	-14,690,000	'	'	'
(Loss) gain on sale of hotel properties	'	-336,000	9,541,000	'	'	'
Income tax benefit (expense)	'	147,000	-189,000	'	'	'
Loss from discontinued operations	0	-14,089,000	-905,000	0	'	'
Basic and diluted income from discontinued operations per share (in dollars per share)	$0	($0.08)	$0	$0	'	'
Number Of Rooms In Hotels And Resorts Owned	11,608	'	'	11,608	'	'
Torrance Marriot South Bay [Member]	'	'	'	'	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'	'	'
Number Of Rooms In Hotels And Resorts Owned	487	'	'	487	'	'
Sales Price of Hotel	$74,000,000	'	'	$74,000,000	'	'

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Carrying Amount [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Note receivable	$49,356	$53,792
Debt	1,060,299	988,731
Fair Value [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Note receivable	64,500	57,000
Debt	$1,067,349	$1,035,450

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (Hilton Garden Inn Chelsea/New York City [Member])	9 Months Ended
	Sep. 30, 2013
Hilton Garden Inn Chelsea/New York City [Member]	'
Performance Termination Provisions Under Management Agreements [Line Items]	'
Reduction in base management fee	2.00%