Carey Watermark Investors 10-Q 12 Aug 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 31, 2014
Document Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Document Fiscal Period Focus	'Q2	'
Document Fiscal Year Focus	'2014	'
Current Fiscal Year End Date	'--12-31	'
Entity Central Index Key	'0001430259	'
Entity Current Reporting Status	'Yes	'
Entity Registrant Name	'Carey Watermark Investors Inc	'
Entity Voluntary Filers	'No	'
Entity Well-known Seasoned Issuer	'No	'
Entity Filer Category	'Non-accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	84,234,477

Consolidated_Balance_Sheets_Un

Consolidated Balance Sheets (Unaudited) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Investments in real estate:	'	'
Hotels, at cost	$1,301,366	$871,682
Accumulated depreciation	-37,460	-18,397
Net investments in hotels	1,263,906	853,285
Equity investments in real estate	14,776	14,915
Net investments in real estate	1,278,682	868,200
Cash	52,488	109,373
Intangible assets, net	42,145	42,795
Due from related parties and affiliates	0	12
Accounts receivable	14,799	8,332
Restricted cash	49,716	42,151
Other assets	20,756	12,505
Total assets	1,458,586	1,083,368
Liabilities:	'	'
Non-recourse debt	828,708	563,058
Note payable to affiliate	11,000	0
Accounts payable, accrued expenses and other liabilities	49,947	31,491
Due to related parties and affiliates	4,814	5,225
Distributions payable	10,433	9,309
Total liabilities	904,902	609,083
Commitments and contingencies (Note 10)	'	'
CWI stockholders’ equity:	'	'
Common stock, $0.001 par value; 300,000,000 shares authorized; 80,543,744 and 67,759,026 shares issued, respectively; and 80,364,082 and 67,703,835 shares outstanding, respectively	81	68
Additional paid-in capital	640,471	525,000
Distributions and accumulated losses	-103,429	-62,868
Accumulated other comprehensive loss	-744	-136
Less: treasury stock at cost, 179,662 and 55,191 shares, respectively	-1,720	-525
Total Carey Watermark Investors Incorporated stockholders’ equity	534,659	461,539
Noncontrolling interests	19,025	12,746
Total equity	553,684	474,285
Total liabilities and equity	$1,458,586	$1,083,368

Consolidated_Balance_Sheets_Un1

Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]	'	'
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	80,543,744	67,759,026
Common stock, shares outstanding	80,364,082	67,703,835
Treasury stock, shares	179,662	55,191

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Hotel Revenues	'	'	'	'
Rooms	$62,354	$17,084	$102,570	$26,185
Food and beverage	16,758	2,560	29,962	3,884
Other hotel income	7,745	1,371	14,010	2,245
Total Hotel Revenues	86,857	21,015	146,542	32,314
Hotel Expenses	'	'	'	'
Rooms	15,607	3,775	28,485	5,985
Food and beverage	12,060	1,768	22,207	2,877
Other hotel operating expenses	4,209	637	7,693	1,077
Sales and marketing	7,450	2,160	12,916	3,466
General and administrative	6,516	1,676	11,905	2,722
Property taxes, insurance and rent	6,025	990	10,406	1,655
Repairs and maintenance	2,926	759	5,525	1,254
Utilities	2,349	722	4,518	1,139
Management fees	2,039	447	3,242	710
Depreciation and amortization	10,566	2,993	19,485	4,779
Total Hotel Expenses	69,747	15,927	126,382	25,664
Other Operating Expense	'	'	'	'
Acquisition-related expenses	14,998	6,474	15,377	11,866
Corporate general and administrative expenses	2,708	1,153	5,514	2,370
Asset management fees to affiliate and other	1,602	561	3,019	951
Total Other Operating Expenses	19,308	8,188	23,910	15,187
Operating Loss	-2,198	-3,100	-3,750	-8,537
Other Income and (Expenses)	'	'	'	'
Interest expense	-8,344	-2,335	-15,297	-3,836
Net income from equity investments in real estate	273	350	398	482
Interest income	15	0	26	0
Other (Expenses) and Income, Total	-8,056	-1,985	-14,873	-3,354
Loss from Operations Before Income Taxes	-10,254	-5,085	-18,623	-11,891
Provision for income taxes	-1,684	-500	-2,101	-547
Net Loss	-11,938	-5,585	-20,724	-12,438
(Income) loss attributable to noncontrolling interests (inclusive of Available Cash Distributions to advisor of $(108), $0, $(1,055), and $0, respectively)	-188	168	24	78
Net Loss Attributable to CWI Stockholders	($12,126)	($5,417)	($20,700)	($12,360)
Basic and Diluted Loss Per Share	($0.16)	($0.18)	($0.29)	($0.49)
Basic and Diluted Weighted Average Shares Outstanding	76,074,511	30,414,270	72,349,047	25,075,110
Distributions Declared Per Share	$0.14	$0.15	$0.28	$0.30

Consolidated_Statements_of_Ope1

Consolidated Statements of Operations (Unaudited) (Parenthetical) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Statement [Abstract]	'	'	'	'
Available Cash Distributions to advisor	$108	$0	$1,055	$0

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Loss (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'	'	'
Net Loss	($11,938)	($5,585)	($20,724)	($12,438)
Other Comprehensive Loss	'	'	'	'
Other comprehensive (loss) income before reclassifications — unrealized loss on derivative instruments	-1,548	1,174	-2,229	970
Comprehensive loss	-12,937	-4,289	-21,860	-11,257
Amounts Attributable to Noncontrolling Interests	'	'	'	'
Net (income) loss	-188	168	24	78
Change in unrealized loss on derivative instruments	293	0	528	0
Comprehensive loss attributable to noncontrolling interests	105	168	552	78
Comprehensive Loss Attributable to CWI Stockholders	-12,832	-4,121	-21,308	-11,179
Interest expense	'	'	'	'
Other Comprehensive Loss	'	'	'	'
Amounts reclassified from accumulated other comprehensive loss	414	122	826	211
Net income from equity investments	'	'	'	'
Other Comprehensive Loss	'	'	'	'
Amounts reclassified from accumulated other comprehensive loss	$135	$0	$267	$0

Consolidated_Statements_of_Equ

Consolidated Statements of Equity (Unaudited) (USD $)		Total	Common Stock	Additional Paid In Capital	Distributions and Accumulated Losses	Accumulated Other Comprehensive Loss	Treasury Stock	Total CWI Stockholders	Noncontrolling Interest
In Thousands, except Share data, unless otherwise specified
Beginning equity balance, value at Dec. 31, 2012		$133,382	$16	$142,645	($9,166)	($299)	($331)	$132,865	$517
Beginning equity balance, shares at Dec. 31, 2012		'	16,299,940	'	'	'	'	'	'
Stockholders' Equity		'	'	'	'	'	'	'	'
Net Loss		-30,399	'	'	-31,906	'	'	-31,906	1,507
Shares issued, net of offering costs, shares		'	42,696,113	'	'	'	'	'	'
Shares issued net of offering costs, value		379,721	43	379,678	'	'	'	379,721	'
Shares issued to affiliates - shares		'	251,071	'	'	'	'	'	'
Shares issued to affiliates - value		2,511	1	2,510	'	'	'	2,511	'
Contributions from noncontrolling interests		12,917	'	'	'	'	'	'	12,917
Distributions to noncontrolling interests		-2,067	'	'	'	'	'	'	-2,067
Shares issued under share incentive plans - share		'	9,841	'	'	'	'	'	'
Shares issued under share incentive plans - value		127	'	127	'	'	'	127	'
Stock-based compensation to directors, shares		'	4,000	'	'	'	'	'	'
Stock-based compensation to directors, value		40	'	40	'	'	'	40	'
Stock dividends issued, shares	[1],[2]	'	8,463,537	'	'	'	'	'	'
Stock dividends issued, value	[1],[2]	8	8	'	'	'	'	8	'
Distributions declared, value		-21,796	'	'	-21,796	'	'	-21,796	'
Other comprehensive loss:		'	'	'	'	'	'	'	'
Change in unrealized loss on derivative instruments		35	'	'	'	163	'	163	-128
Repurchase of shares, shares		'	-20,667	'	'	'	'	'	'
Repurchase of shares, value		-194	'	'	'	'	-194	-194	'
Ending equity balance, value at Dec. 31, 2013		474,285	68	525,000	-62,868	-136	-525	461,539	12,746
Ending equity balance, shares at Dec. 31, 2013		67,703,835	67,703,835	'	'	'	'	'	'
Stockholders' Equity		'	'	'	'	'	'	'	'
Net Loss		-20,724	'	'	-20,700	'	'	-20,700	-24
Shares issued, net of offering costs, shares		'	12,384,238	'	'	'	'	'	'
Shares issued net of offering costs, value		111,466	13	111,453	'	'	'	111,466	'
Shares issued to affiliates - shares		'	373,818	'	'	'	'	'	'
Shares issued to affiliates - value		3,745	'	3,745	'	'	'	3,745	'
Contributions from noncontrolling interests		7,886	'	'	'	'	'	'	7,886
Distributions to noncontrolling interests		-1,055	'	'	'	'	'	'	-1,055
Shares issued under share incentive plans - share		'	8,662	'	'	'	'	'	'
Shares issued under share incentive plans - value		93	'	93	'	'	'	93	'
Stock-based compensation to directors, shares		'	18,000	'	'	'	'	'	'
Stock-based compensation to directors, value		180	'	180	'	'	'	180	'
Distributions declared, value		-19,861	'	'	-19,861	'	'	-19,861	'
Other comprehensive loss:		'	'	'	'	'	'	'	'
Change in unrealized loss on derivative instruments		-1,136	'	'	'	-608	'	-608	-528
Repurchase of shares, shares		'	-124,471	'	'	'	'	'	'
Repurchase of shares, value		-1,195	'	'	'	'	-1,195	-1,195	'
Ending equity balance, value at Jun. 30, 2014		$553,684	$81	$640,471	($103,429)	($744)	($1,720)	$534,659	$19,025
Ending equity balance, shares at Jun. 30, 2014		80,364,082	80,364,082	'	'	'	'	'	'
[1]	Inclusive of 34,270 shares related to the stock distribution declared in the fourth quarter of 2012 and reflected as issued in the first quarter of 2013.
[2]	Inclusive of a special stock dividend equivalent to $0.1375 per share issued during the fourth quarter of 2013.

Consolidated_Statements_of_Equ1

Consolidated Statements of Equity (Unaudited) (Parenthetical) (USD $)	3 Months Ended		12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013
Statement of Stockholders' Equity [Abstract]	'	'	'
Distributions declared (per share)	'	'	$0.59
Stock dividends declared (in shares)	'	34,270	'
Stock dividends issued (per share)	'	'	$0.21
Special stock dividends issued (per share)	$0.14	'	'

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Cash Flows - Operating Activities	'	'
Net Loss	($20,724)	($12,438)
Adjustments to net loss:	'	'
Depreciation and amortization	19,485	4,779
Asset management fees and reimbursable costs to affiliates settled in shares	4,761	951	[1]
(Decrease) increase in due to related parties and affiliates	-2,174	1,116
Straight-line rent adjustments	1,499	0
Amortization of deferred financing costs, ground lease intangible and other	995	311
(Income) loss from equity investments in real estate in excess of distributions received	-398	104
Amortization of share incentive plans	273	87	[1]
Net changes in other operating assets and liabilities	1,368	2,389	[1]
Net Cash Provided by (Used in) Operating Activities	5,085	-2,701
Cash Flows - Investing Activities	'	'
Acquisition of hotels	-415,278	-311,100
Funds placed in escrow	-33,630	-9,589
Funds released from escrow	27,952	5,579
Capital expenditures	-10,494	-4,806
Deposits for hotel investments	-8,230	-5,622
Deposits released for hotel investments	8,230	2,880
Distributions received from equity investments in excess of equity income	298	0
Net Cash Used in Investing Activities	-431,152	-322,658
Cash Flows - Financing Activities	'	'
Proceeds from mortgage financing	266,547	208,691
Proceeds from issuance of shares, net of offering costs	108,427	186,105
Distributions paid	-18,737	-4,143
Proceeds from note payable to affiliate	11,000	0
Contributions from noncontrolling interest	7,886	90
Deferred financing costs	-2,089	-2,490	[1]
Purchase of treasury stock	-1,230	-7
Distributions to noncontrolling interests	-1,055	0
Repayment of mortgage financing	-941	-125
Deposits for mortgage financing	-647	0
Deposits released for mortgage financing	183	0
Purchase of interest rate cap	-113	0
Withholding on restricted stock units	-49	-46
Net Cash Provided by Financing Activities	369,182	388,075
Change in Cash During the Period	'	'
Net (decrease) increase in cash	-56,885	62,716
Cash, beginning of period	109,373	30,729
Cash, end of period	$52,488	$93,445
[1]	Reflects a revised cash flow statement for the six months ended June 30, 2013, as further discussed in Note 2.

Business

Business	6 Months Ended
	Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Business	'
	Business
	Organization
	Carey Watermark Investors Incorporated, or CWI, and, together with its consolidated subsidiaries, we, us, or our, is a publicly owned, non-listed real estate investment trust, or REIT, formed as a Maryland corporation in March 2008 for the purpose of acquiring, owning, disposing of and, through our advisor, managing and seeking to enhance the value of interests in lodging and lodging related properties primarily in the United States, or U.S. We conduct substantially all of our investment activities and own all of our assets through CWI OP, LP, or our Operating Partnership. We are a general partner and a limited partner and own a 99.985% capital interest in the Operating Partnership. Carey Watermark Holdings, LLC, or Carey Watermark Holdings, which is owned indirectly by both W. P. Carey Inc., or WPC, and Watermark Capital Partners, LLC, or Watermark Capital Partners, holds a special general partner interest in the Operating Partnership.
	We are managed by our advisor, Carey Lodging Advisors, LLC, an indirect subsidiary of WPC. Our advisor manages our overall portfolio, including providing oversight and strategic guidance to the independent hotel operators that manage our hotels. Our subadvisor, CWA, LLC, a subsidiary of Watermark Capital Partners, provides services to the advisor primarily relating to acquiring, managing, financing and disposing of our hotels and overseeing the independent operators that manage the day-to-day operations of our hotels. In addition, the subadvisor provides us with the services of our chief executive officer during the term of the subadvisory agreement, subject to the approval of our independent directors.
	See Note 4 for a complete listing of the hotels that we consolidate in our financial statements, or our Consolidated Hotels, and Note 5 for a complete listing of the hotels that we record as equity investments in our financial statements, or our Unconsolidated Hotels, at June 30, 2014.
	Public Offerings
	We raised $586.2 million in our initial public offering, which closed in September 2013. We fully invested the proceeds from the initial public offering during the second quarter of 2014.
	On October 25, 2013, we filed a registration statement with the SEC for a continuous public offering of up to an additional $350.0 million of our common stock at $10.00 per share, which was declared effective by the SEC on December 20, 2013. The registration statement also covers the offering of up to $300.0 million of our common stock at $9.50 per share pursuant to our distribution reinvestment plan, or DRIP. We refer to this continuous public offering as the “follow-on offering.” We began selling shares in our follow-on offering in January 2014 and have raised $111.3 million through June 30, 2014. The gross offering proceeds raised exclude reinvested distributions through the DRIP of $11.3 million. We intend to continue to invest the proceeds from our follow-on offering in lodging and lodging related properties.

Basis_of_Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Basis of Presentation	'
	Basis of Presentation
	Basis of Presentation
	Our interim consolidated financial statements have been prepared, without audit, in accordance with the instructions to Form 10-Q and, therefore, do not necessarily include all information and footnotes necessary for a fair statement of our consolidated financial position, results of operations and cash flows in accordance with accounting principles generally accepted in the U.S., or GAAP.
	In the opinion of management, the unaudited financial information for the interim periods presented in this Report reflects all normal and recurring adjustments necessary for a fair statement of financial position, results of operations and cash flows. Our interim consolidated financial statements should be read in conjunction with our audited consolidated financial statements and accompanying notes for the year ended December 31, 2013, which are included in the 2013 Annual Report, as certain disclosures that would substantially duplicate those contained in the audited consolidated financial statements have not been included in this Report. Operating results for interim periods are not necessarily indicative of operating results for an entire fiscal year.
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in our consolidated financial statements and the accompanying notes. Actual results could differ from those estimates. Certain amounts within operating cash flow have been reclassified to conform to the current year presentation. These reclassifications had no impact on net loss for the periods presented.
	For purposes of determining the weighted-average number of shares of common stock outstanding, amounts for the three and six months ended June 30, 2013 have been adjusted to treat stock distributions declared and effective through the date of filing, including a special stock dividend declared on December 19, 2013, as if they were outstanding as of January 1, 2013. No adjustment is required for the three or six months ended June 30, 2014 as no stock distributions were declared either during the three or six months ended June 30, 2014 or subsequent to that date through our filing date.
	Basis of Consolidation
	Our consolidated financial statements reflect all of our accounts, including those of our controlled subsidiaries. The portion of equity in a consolidated subsidiary that is not attributable, directly or indirectly, to us is presented as noncontrolling interests. All significant intercompany accounts and transactions have been eliminated.
	When we obtain an economic interest in an entity, we evaluate the entity to determine if it is a variable interest entity, or VIE, and, if so, whether we are deemed to be the primary beneficiary and are therefore required to consolidate the entity. We performed an analysis of all of our subsidiary entities to determine whether they qualify as VIEs and whether they should be consolidated or accounted for as equity investments in an unconsolidated venture. As a result of our assessment, we have concluded that none of our subsidiaries is a VIE. All our subsidiaries are either consolidated or accounted for as equity investments under the voting interest entity model.
	We account for the capital interest held by Carey Watermark Holdings in the Operating Partnership as a noncontrolling interest. Based on the terms of the Operating Partnership agreement and that the initial investors are not yet earning their minimal return, the non-controlling interest representing Carey Watermark Holding’s interest in the Operating Partnership has absorbed the operating losses to the extent of its original investment, and accordingly, no losses were allocated to Carey Watermark Holdings during the six months ended June 30, 2014 or 2013.
	Revision of Previously Issued Financial Statements
	Asset Management Fees — Our advisor earns an annual asset management fee, as described in Note 3. Beginning in the first quarter of 2012, we began settling all asset management fees in shares of our common stock, rather than in cash, at the election of the advisor. Following the issuance of our financial statements for the six months ended June 30, 2013, we identified an error in the cash flow statement that was the result of not adjusting operating cash flow for the full amount of such non-cash asset management fees included in net income, and instead including such non-cash asset management fees as a source of financing cash flow for that same amount.
	Deposits — Following the issuance of our financial statements for the year ended December 31, 2013, we identified an error in the cash flow statement affecting cash flows provided by or used in operating, investing and financing activities for the periods shown below. This error was the result of treating deposits on hotel acquisitions and on loan commitments as a reduction in operating cash flow during the periods in which the deposits were made instead of as investing and financing cash flows, respectively.
	We assessed the materiality of the errors described above on prior periods’ financial statements in accordance with Accounting Standards Codification 250 and the SEC’s Staff Accounting Bulletin No. 99, “Materiality,” and concluded that the impact of the errors was not material to any previously issued financial statements. We have properly reflected the correction below in this Report. In addition, we have added supplemental disclosures of these non-cash financing activities. The errors impacted cash flow provided by (used in) operating activities, net cash used in investing activities and net cash provided by financing activities, and did not affect our consolidated balance sheets, consolidated statements of operations, consolidated statements of comprehensive loss, consolidated statements of equity or cash balances for any reporting periods.
	(in thousands)
		Net Cash (Used in) Provided by									Net Cash (Used in) Provided by										Net Cash Provided by (Used in)
		Operating Activities									Investing Activities										Financing Activities
		As Reported			Adjustment			As Revised			As Reported			Adjustment				As Revised			As Reported		Adjustment				As Revised
	Six Months Ended	$	(6,116	)	$	673	(a)	$	(5,443	)	$	(319,916	)	$	—		(a)	$	(319,916	)	$	388,748	$	(673	)	(a)	$	388,075
	June 30, 2013
		$	(5,443	)	$	2,742	(b)	$	(2,701	)	$	(319,916	)	$	(2,742	)	(b)	$	(322,658	)	$	388,075	$	—		(b)	$	388,075
	___________
	(a)	Reflects adjustments for non-cash asset management fees described above.
	(b)	Reflects adjustments for hotel acquisition deposits and loan commitments described above.
	Recent Accounting Requirement
	The following Accounting Standards Update, or ASU, promulgated by the Financial Accounting Standards Board is applicable to us:
	ASU 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360). ASU 2014-08 changes the requirements for reporting discontinued operations. A discontinued operation may include a component of an entity or a group of components of an entity, or a business. Under this new guidance, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a “strategic shift that has or will have a major effect on an entity’s operations and financial results.” The new guidance also requires disclosures including pretax profit or loss and significant gains or losses arising from dispositions that represent an “individually significant component of an entity,” but do not meet the criteria to be reported as discontinued operations under ASU 2014-08. In the ordinary course of business we may sell properties, which, under prior accounting guidance, would have been reported each as discontinued operations; however, under ASU 2014-08 such property dispositions typically would not meet the criteria to be reported as discontinued operations. We elected to early adopt ASU 2014-08 prospectively for any dispositions after December 31, 2013. Consequently, individually significant operations that are sold or classified as held-for-sale during 2014 will not be reclassified to discontinued operations in the consolidated financial statements, but will be disclosed in the Notes to the consolidated financial statements. This ASU did not have any impact on our financial position or results of operations for any of the periods presented.
	ASU 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2014-09 is a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. Additionally, this guidance modifies disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. ASU 2014-09 is effective for us in 2017, and early adoption is not permitted. In adopting ASU 2014-09, companies may use either a full retrospective or a modified retrospective approach. We are currently evaluating the impact of ASU 2014-09 on our consolidated financial statements and have not yet determined the method by which we will adopt the standard in 2017.

Agreements_and_Transactions_wi

Agreements and Transactions with Related Parties	6 Months Ended
	Jun. 30, 2014
Related Party Transactions [Abstract]	'
Agreements and Transactions with Related Parties	'
	Agreements and Transactions with Related Parties
	Agreements with the Advisor and Affiliates
	We have an advisory agreement with the advisor to perform certain services for us under a fee arrangement, including managing our overall business, the identification, evaluation, negotiation, purchase and disposition of lodging related properties and the performance of certain administrative duties. The agreement that is currently in effect is scheduled to expire on September 30, 2014, unless renewed pursuant to its terms. The advisor has entered into a subadvisory agreement with the subadvisor, whereby the advisor pays 20% of the fees earned under the advisory agreement to the subadvisor and the subadvisor provides certain personnel services to us.
	The following tables present a summary of fees we paid and expenses we reimbursed to the advisor, subadvisor and other affiliates, as described below, in accordance with the terms of those agreements (in thousands):
		Three Months Ended June 30,				Six Months Ended June 30,
		2014		2013		2014		2013
	Amounts Included in the Consolidated Statements of Operations:
	Acquisition fees	$	10,753	$	4,928	$	10,753	$	8,355
	Asset management fees	1,597		561		2,999		951
	Personnel and overhead reimbursements	1,273		344		2,588		631
	Available Cash Distribution	108		—		1,055		—
		$	13,731	$	5,833	$	17,395	$	9,937
	Other Transaction Fees Incurred:
	Selling commissions and dealer manager fees	$	9,073	$	13,423	$	10,845	$	20,305
	Offering costs	1,591		2,761		2,317		4,166
		$	10,664	$	16,184	$	13,162	$	24,471
		June 30, 2014		December 31, 2013
	Amounts Due to Related Parties and Affiliates:
	Organization and offering costs due to the advisor	$	626	$	62
	Reimbursable costs	937		270
	Other amounts due to the advisor	2,725		4,563
	Due to joint venture partners	330		330
	Due to Carey Financial	196		—
		$	4,814	$	5,225
	Acquisition Fees
	The advisor receives acquisition fees of 2.5% of the total investment cost of the properties acquired, including on our proportionate share of equity method investments, and loans originated by us, not to exceed 6% of the aggregate contract purchase price of all investments and loans. We expense acquisition-related costs and fees on acquisitions deemed to be business combinations and capitalize those costs on acquisitions of equity method investments.
	Asset Management Fees, Dispositions Fees and Loan Refinancing Fees
	We pay the advisor an annual asset management fee equal to 0.50% of the aggregate Average Market Value of our Investments, both as defined in our advisory agreement with the advisor. The advisor is also entitled to receive disposition fees of up to 1.5% of the contract sales price of a property as well as a loan refinancing fee of up to 1% of a refinanced loan, if certain conditions described in the advisory agreement are met. We paid all asset management fees for the three and six months ended June 30, 2014 and 2013 in shares of our common stock rather than in cash at the election of the advisor. For the six months ended June 30, 2014, $2.8 million in asset management fees were settled in shares. At June 30, 2014, the advisor owned 738,996 shares (0.92%) of our outstanding common stock. Asset management fees are included in Asset management fees to affiliate and other in the consolidated financial statements.
	Personnel and Overhead Reimbursements
	Pursuant to the subadvisory agreement, we reimburse the advisor, which subsequently reimburses the subadvisor, for personnel costs and other charges. We also grant restricted stock units to employees of the subadvisor pursuant to our 2010 Equity Incentive Plan. The subadvisor provides us with the services of Michael G. Medzigian, our chief executive officer, during the term of the subadvisory agreement, subject to the approval of our board of directors. Additionally, commencing in the first quarter of 2014, pursuant to the advisory agreement, we began reimbursing the advisor for the actual cost of personnel allocable to their time devoted to providing administrative services to us, which totaled $0.8 million and $1.6 million, respectively, for the three and six months ended June 30, 2014, as well as rent expense that totaled less than $0.1 million and $0.2 million, respectively. Prior to the first quarter of 2014, the advisor had not charged us for these expenses. These reimbursements are included in Corporate general and administrative expenses and Amounts due to affiliates in the consolidated financial statements and are being settled in shares of our common stock at the election of the advisor. For the six months ended June 30, 2014, $0.9 million of such fees were settled in shares.
	Available Cash Distributions
	Carey Watermark Holdings’ special general partner interest entitles it to receive distributions of 10% of Available Cash, as defined in the agreement of limited partnership of the Operating Partnership, or Available Cash Distributions, generated by the Operating Partnership, subject to certain limitations. In addition, in the event of the dissolution of the Operating Partnership, Carey Watermark Holdings will be entitled to receive distributions of up to 15% of net proceeds, provided certain return thresholds are met for the initial investors in the Operating Partnership. Available Cash Distributions by the Operating Partnership aggregated $0.1 million and $1.1 million during the three and six months ended June 30, 2014 and is included in Loss (income) attributable to noncontrolling interests in the consolidated financial statements.
	Selling Commissions and Dealer Manager Fees
	We have a dealer manager agreement with Carey Financial, whereby Carey Financial receives a selling commission of up to $0.70 per share sold and a dealer manager fee of up to $0.30 per share sold, a portion of which may be re-allowed to selected broker dealers. These amounts are recorded in Additional paid-in capital in the consolidated financial statements.
	Organization and Offering Costs
	Pursuant to our advisory agreement with the advisor, we are liable for certain expenses related to our public offerings, which include filing, legal, accounting, printing, advertising, transfer agent, and escrow fees and are to be deducted from the gross proceeds of the offering. We will reimburse Carey Financial or selected dealers for reasonable bona fide due diligence expenses incurred that are supported by a detailed and itemized invoice. The total underwriting compensation to Carey Financial and selected dealers in connection with the offerings cannot exceed limitations prescribed by the Financial Industry Regulatory Authority, Inc. The advisor agreed to be responsible for the repayment of organization and offering expenses (excluding selling commissions and dealer manager fees paid to Carey Financial and selected dealers and fees paid and expenses reimbursed to selected dealers) that exceed in the aggregate 2% of the gross proceeds from the initial public offering and 4% of the gross proceeds from the follow-on offering.
	Through June 30, 2014, the advisor incurred organization and offering costs on our behalf related to our follow-on offering of approximately $2.3 million, all of which we were obligated to pay. As of June 30, 2014, $1.7 million had been reimbursed. Unpaid costs of $0.6 million were included in Due to affiliates in the consolidated financial statements at June 30, 2014. During the six months ended June 30, 2014, we charged $0.5 million of deferred offering costs to stockholder’s equity.
	Other Amounts Due to the Advisor
	At June 30, 2014, the balance primarily represented acquisition fees of $2.1 million payable to the advisor related to the Hampton Inn & Suites/Homewood Suites Denver Downtown Convention Center acquired on June 25, 2014, and was paid during the third quarter of 2014. At December 31, 2013, this balance primarily represented acquisition fees of $4.1 million payable to the advisor related to the Renaissance Chicago Downtown acquired on December 20, 2013, which was paid in the first quarter of 2014.
	Due to Joint Venture Partners
	This balance is primarily comprised of amounts due from consolidated joint ventures to our joint venture partners related to hotel operating expenses paid by hotel managers that are affiliates of our joint venture partners, which will be reimbursed.
	Other Transactions with Affiliates
	In January 2013, our board of directors and the board of directors of WPC approved unsecured loans to us of up to $50.0 million in the aggregate, at a rate equal to the rate at which WPC is able to borrow funds under its senior unsecured credit facility, for the purpose of facilitating acquisitions approved by our investment committee that we might not otherwise have sufficient available funds to complete. Any such loans may be made solely at the discretion of WPC’s management. On June 25, 2014, we obtained a loan from WPC to fund, in part, our acquisition of the Hampton Inn & Suites/Homewood Suites Denver Downtown Convention Center. The loan was for $11.0 million at a rate of 1.25% with a maturity date of June 30, 2015. The loan was repaid in full with interest on July 22, 2014.

Net_Investment_in_Hotels

Net Investment in Hotels	6 Months Ended
	Jun. 30, 2014
Real Estate [Abstract]	'
Net Investment in Hotels	'
	Net Investment in Hotels
	Net investment in hotels is summarized as follows (in thousands):
		June 30, 2014				December 31, 2013
	Buildings	$	1,042,327			$	685,108
	Land	168,922				124,450
	Furniture, fixtures and equipment	71,062				46,757
	Building and site improvements	15,306				11,993
	Construction in progress	3,749				3,374
	Hotels, at cost	1,301,366				871,682
	Less: Accumulated depreciation	(37,460		)		(18,397		)
	Net investments in hotels	$	1,263,906			$	853,285
	Summarized Acquisition Data
	The following table sets forth acquisition data for our Consolidated Hotels and therefore excludes subsequent improvements and capitalized costs. Amounts for our initial investment represent the fair value of net assets acquired less the fair value of noncontrolling interests, exclusive of acquisition expenses and the fair value of any debt assumed, at time of acquisition.
	(Dollars in thousands)
	Hotels		State		Number			% Owned			Our Initial			Acquisition Date		Hotel Type
					of Rooms						Investment
	Consolidated Hotels
	Hampton Inn Boston Braintree		Massachusetts		103			100	%		$	12,500		May 31, 2012		Select-service
	Hilton Garden Inn New Orleans French Quarter/CBD		Louisiana		155			88	%		16,176			June 8, 2012		Select-service
	Lake Arrowhead Resort and Spa		California		173			97	%		24,039			July 9, 2012		Full-service
	Courtyard San Diego Mission Valley		California		317			100	%		85,000			December 6, 2012		Select-service
	Hilton Southeast Portfolio:
	Hampton Inn Atlanta Downtown		Georgia		119			100	%		18,000			February 14, 2013		Select-service
	Hampton Inn Frisco Legacy Park		Texas		105			100	%		16,100			February 14, 2013		Select-service
	Hampton Inn Memphis Beale Street		Tennessee		144			100	%		30,000			February 14, 2013		Select-service
	Hampton Inn Birmingham Colonnade		Alabama		133			100	%		15,500			February 14, 2013		Select-service
	Hilton Garden Inn Baton Rouge Airport		Louisiana		131			100	%		15,000			February 14, 2013		Select-service
	Courtyard Pittsburgh Shadyside		Pennsylvania		132			100	%		29,900			March 12, 2013		Select-service
	Hutton Hotel Nashville		Tennessee		247			100	%		73,600			May 29, 2013		Full-service
	Holiday Inn Manhattan 6th Avenue Chelsea		New York		226			100	%		113,000			June 6, 2013		Full-service
	Fairmont Sonoma Mission Inn & Spa		California		226			75	%		76,647			July 10, 2013		Full-service
	Marriott Raleigh City Center		North Carolina		400			100	%		82,193			August 13, 2013		Full-service
	Hawks Cay Resort (a)		Florida		177			100	%		131,301			October 23, 2013		Full-service
	Renaissance Chicago Downtown		Illinois		553			100	%		134,939			December 20, 2013		Full-service
	Hyatt Place Austin Downtown (b)		Texas		296			100	%		86,673			April 1, 2014		Select-service
	Courtyard Times Square West (b)		New York		224			100	%		87,443			May 27, 2014		Select-service
	Sheraton Austin Hotel at the Capitol (b)		Texas		363			80	%		90,220			May 28, 2014		Full-service
	Marriott Boca Raton at Boca Center (b)		Florida		256			100	%		61,794			June 12, 2014		Full-service
	Hampton Inn & Suites/Homewood Suites Denver Downtown Convention Center (b)		Colorado		302			100	%		81,262			June 25, 2014		Select-service
					4,782						$	1,281,287
	_________
	(a)	The resort also includes approximately 250 two-, three-, and four-bedroom villas in the resort residential management program, which are available for rent and which we refer to as the Villa Rental Program.
	(b)	These hotels were acquired during the six months ended June 30, 2014 and are referred to, collectively, as our 2014 Acquisitions.
	2014 Acquisitions
	During the six months ended June 30, 2014, we acquired five hotels with real estate and other hotel assets, net of assumed liabilities and inclusive of contributions from noncontrolling interests totaling $415.3 million. In connection with these acquisitions, we expensed acquisition costs of $15.4 million, including acquisition fees of $10.8 million paid to the advisor. See Note 9 for information about mortgage financing obtained in connection with these acquisitions and Note 10 for information about planned renovations on these hotels, as applicable.
	The following tables present a summary of assets acquired and liabilities assumed in these business combinations, each at the date of acquisition, and revenues and earnings thereon, since their respective dates of acquisition through June 30, 2014 (in thousands):
		2014 Acquisitions
		Hyatt Place Austin Downtown				Courtyard Times Square West				Sheraton Austin Hotel at the Capitol			Marriott Boca Raton at Boca Center				Hampton Inn & Suites/Homewood Suites Denver Downtown Convention Center
	Cash consideration	$	86,673			$	87,443			$	90,220		$	61,794			$	81,262
	Assets acquired at fair value:
	Land	$	9,100			$	—			$	18,210		$	11,500			$	5,663
	Building	73,700				87,437				78,703			46,149				71,598
	Furniture, fixtures and equipment	4,187				3,968				1,983			4,237				4,228
	Accounts receivable	98				—				92			55				—
	Other assets	179				368				373			295				362
	Liabilities assumed at fair value:
	Accounts payable, accrued expenses and other liabilities	(591		)		(4,330		)		(1,255		)	(442		)		(589		)
	Contributions from noncontrolling interests at fair value	—				—				(7,886		)	—				—
	Net assets acquired at fair value	$	86,673			$	87,443			$	90,220		$	61,794			$	81,262
		For the Period from
		1-Apr-14				27-May-14				28-May-14			June 12, 2013				June 25, 2014 through
		through				through				through			through				30-Jun-14
		30-Jun-14				30-Jun-14				30-Jun-14			30-Jun-14
Revenues	$	4,908			$	2,039			$	2,251		$	602			$	287
Net income	$	1,485			$	332			$	491		$	9			$	92
Asset Retirement Obligation
We have recorded an asset retirement obligation for the removal of asbestos and environmental waste in connection with one of our hotels. We estimated the fair value of the asset retirement obligation based on the estimated economic life of the hotel and the estimated removal costs. The liability was discounted using the weighted-average interest rate on the associated fixed-rate mortgage loan at the time the liability was incurred. At June 30, 2014 and December 31, 2013, our asset retirement obligation was $0.5 million and $0.4 million, respectively, and is included in Accounts payable, accrued expenses and other liabilities in the consolidated financial statements.
Pro Forma Financial Information
The following unaudited consolidated pro forma financial information presents our financial results as if the Consolidated Hotel investments that we completed during the six months ended June 30, 2014, and the new financings related to these acquisitions, had occurred on January 1, 2013. These transactions were accounted for as business combinations. The pro forma financial information is not necessarily indicative of what the actual results would have been had the acquisitions actually occurred on January 1, 2013, nor does it purport to represent the results of operations for future periods.
(Dollars in thousands, except per share amounts)
	Three Months Ended June 30,								Six Months Ended June 30,
	2014				2013				2014			2013
Pro forma total revenues	$	101,192			$	44,038			$	184,698		$	80,456
Pro forma net income (loss)	$	3,471			$	537			$	(2,164	)	$	(14,280	)
(Income) loss from continuing operations attributable to noncontrolling interests	(630		)		23				(573		)	254
Pro forma income (loss) from continuing operations attributable to CWI stockholders	$	2,841			$	560			$	(2,737	)	$	(14,026	)
Pro forma income (loss) per share:
Net income (loss) attributable to CWI stockholders	$	0.03			$	0.01			$	(0.03	)	$	(0.26	)
Pro forma weighted average shares (a)	87,944,509				56,235,720				88,330,314			53,863,736
___________
(a)	The pro forma weighted average shares outstanding were determined as if the number of shares issued in our public offering in order to raise the funds used for our 2014 and 2013 acquisitions were issued on January 1, 2013 and January 1, 2012, respectively. All acquisition costs for our acquisitions completed during the six months ended June 30, 2014 and 2013 are presented as if they were incurred on January 1, 2013 and 2012, respectively.
Construction in Progress
At June 30, 2014 and December 31, 2013, construction in progress was $3.7 million and $3.4 million, recorded at cost, respectively, and related primarily to renovations at Hawks Cay Resort, Holiday Inn Manhattan 6th Avenue Chelsea and Renaissance Chicago Downtown at June 30, 2014 and Courtyard Pittsburgh Shadyside and Hampton Inn Memphis Beale Street at December 31, 2013 (Note 10). We capitalize interest expense and certain other costs, such as property taxes, property insurance and hotel incremental labor costs, related to hotels undergoing major renovations. We capitalized less than $0.1 million during both the three months ended June 30, 2014 and 2013, respectively, and $0.1 million and $0.2 million during the six months ended June 30, 2014 and 2013, respectively.

Equity_Investment_in_Real_Esta

Equity Investment in Real Estate	6 Months Ended
	Jun. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]	'
Equity Investments in Real Estate	'
	Equity Investments in Real Estate
	At June 30, 2014, together with unrelated third parties, we owned equity interests in two Unconsolidated Hotels. We do not control the ventures that own these hotels, but we exercise significant influence over them. We account for these investments under the equity method of accounting (i.e., at cost, increased or decreased by our share of earnings or losses, less distributions, plus contributions and other adjustments required by equity method accounting, such as basis differences from acquisition costs paid to the advisor that we incur and other-than-temporary impairment charges, if any).
	Under the conventional approach of accounting for equity method investments, an investor applies its percentage ownership interest to the venture’s net income to determine the investor’s share of the earnings or losses of the venture. This approach is inappropriate to use if the venture’s capital structure gives different rights and priorities to its investors. We have priority returns on our equity method investments. Therefore, we follow the hypothetical liquidation at book value method in determining our share of the ventures’ earnings or losses for the reporting period as this method better reflects our claim on the ventures’ book value at the end of each reporting period. Earnings for our equity method investments are recognized in accordance with each respective investment agreement and, where applicable, based upon the allocation of the investment’s net assets at book value as if the investment were hypothetically liquidated at the end of each reporting period. Due to our preferred interests, we are not responsible for, and will not reflect, losses to the extent our partners continue to have equity in the investments.
	The following table sets forth our ownership interests in our equity investments in real estate and their respective carrying values. The carrying values of these ventures are affected by the timing and nature of distributions (dollars in thousands):
															Carrying Value at
	Hotels		State		Number		% Owned		Our Initial			Acquisition Date		Hotel Type	June 30, 2014		December 31, 2013
					of Rooms				Investment (a)
	Unconsolidated Hotels
	Hyatt French Quarter Venture (b) (c)		Louisiana		254		80	%	$	13,000		September 6, 2011		Full-service	$	4,830	$	4,395
	Westin Atlanta Venture (d)		Georgia		372		57	%	13,170			October 3, 2012		Full-service	9,946		10,520
					626				$	26,170					$	14,776	$	14,915
	___________
	(a)	This amount represents purchase price plus capitalized costs, inclusive of fees paid to the advisor, at the time of acquisition.
	(b)	The decrease from our initial investment as compared to our carrying value at June 30, 2014 is primarily a result of our receipt of a distribution totaling $6.2 million representing a return of capital for our share of mortgage refinancing proceeds during the third quarter of 2013.
	(c)	We received cash distributions of $0.3 million during the six months ended June 30, 2014.
	(d)	We received cash distributions of less than $0.1 million during the six months ended June 30, 2014.
	The following table sets forth our share of equity (loss) earnings from our Unconsolidated Hotels, which are based on the hypothetical liquidation at book value model as well as certain depreciation and amortization adjustments related to basis differentials from acquisitions of certain investments (in thousands):
			Three Months Ended June 30,						Six Months Ended June 30,
	Venture		2014			2013			2014			2013
	Long Beach Venture (a)		$	—		$	622		$	—		$	672
	Hyatt French Quarter Venture		559			219			930			518
	Westin Atlanta Venture		(286		)	(491		)	(532		)	(708		)
			$	273		$	350		$	398		$	482
	___________
	(a)	We sold our 49% interest in the Long Beach Venture in July 2013.
	No other-than-temporary impairment charges were recognized during either the three or six months ended June 30, 2014 or 2013.

Intangible_Assets_and_Liabilit

Intangible Assets and Liabilities Intangible Assets and Liabilities	6 Months Ended
	Jun. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Intangible Assets	'
	Intangible Assets and Liability
	In connection with our investment activity during the six months ended June 30, 2014, we have recorded net lease intangibles comprised as follows (life in years, dollars in thousands):
			Weighted-Average Life		Amount
	Amortizable Intangible Liability
	Above-market hotel ground lease		85		$	(2,100	)
	Intangible assets and liabilities are summarized as follows (dollars in thousands):
				30-Jun-14											31-Dec-13
		Amortization Period (years)		Gross				Accumulated				Net Carrying			Gross		Accumulated			Net Carrying
				Carrying				Amortization				Amount			Carrying		Amortization			Amount
				Amount											Amount
	Amortizable Intangible Assets
	Villa Rental Program	45		$	31,700			$	(484	)		$	31,216		$	31,700	$	(133	)	$	31,567
	Below-market hotel ground leases	10 – 92.5		9,446				(273		)		9,173			9,446		(52		)	9,394
	Below-market hotel parking garage lease	92.5		1,490				(15		)		1,475			1,490		(7		)	1,483
	In-place leases	1 – 21		398				(117		)		281			398		(47		)	351
	Total intangible assets			$	43,034			$	(889	)		$	42,145		$	43,034	$	(239	)	$	42,795
	Amortizable Intangible Liability
	Above-market hotel ground lease	85		$	(2,100	)		$	—			$	(2,100	)	$	—	$	—		$	—
	Net amortization of intangibles was $0.3 million and less than $0.1 million for the three months ended June 30, 2014 and 2013, respectively, and $0.7 million and less than $0.1 million for the six months ended June 30, 2014 and 2013, respectively. Amortization of in-place lease intangibles and the Villa Rental Program is included in Depreciation and amortization, and amortization of hotel parking garage lease, hotel ground lease and above-market ground lease intangibles is included in Property taxes, insurance and rent in the consolidated financial statements.
	Based on the intangible assets recorded at June 30, 2014, scheduled annual amortization of intangibles for the remainder of 2014, each of the next four calendar years following December 31, 2014, and thereafter is as follows (in thousands):
	Years Ending December 31,		Increase to Depreciation and Amortization				Increase to Property taxes, Insurance and Rent				Total
	2014 (remainder)		$	396			$	228			$	624
	2015		778				420				1,198
	2016		766				413				1,179
	2017		730				407				1,137
	2018		720				387				1,107
	Thereafter		28,105				6,695				34,800
	Total		$	31,495			$	8,550			$	40,045

Fair_Value_Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	Fair Value Measurements
	The fair value of an asset is defined as the exit price, which is the amount that would either be received when an asset is sold or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The guidance establishes a three-tier fair value hierarchy based on the inputs used in measuring fair value. These tiers are: Level 1, for which quoted market prices for identical instruments are available in active markets, such as money market funds, equity securities and U.S. Treasury securities; Level 2, for which there are inputs other than quoted prices included within Level 1 that are observable for the instrument, such as certain derivative instruments including interest rate caps and swaps; and Level 3, for securities that do not fall into Level 1 or Level 2 and for which little or no market data exists, therefore requiring us to develop our own assumptions.
	Derivative Assets and Liabilities — Our derivative assets and liabilities are comprised of interest rate swaps and an interest rate cap. These derivative instruments were measured at fair value using readily observable market inputs, such as quotations on interest rates. These derivative instruments were classified as Level 2 as these instruments are custom, over-the-counter contracts with various bank counterparties that are not traded in an active market (Note 8).
	We did not have any transfers into or out of Level 1, Level 2 and Level 3 measurements during either the three or six months ended June 30, 2014 or 2013. Gains and losses (realized and unrealized) included in earnings are reported in Other income and (expenses) in the consolidated financial statements.
	Our non-recourse debt, which we have classified as Level 3, had a carrying value of $828.7 million and $563.1 million, and an estimated fair value of $837.5 million and $565.1 million, at June 30, 2014 and December 31, 2013, respectively. We determined the estimated fair value using a discounted cash flow model with rates that take into account the interest rate risk. We also considered the value of the underlying collateral, taking into account the quality of the collateral and the then-current interest rate.
	We estimated that our other financial assets and liabilities had fair values that approximated their carrying values at both June 30, 2014 and December 31, 2013.

Risk_Management_and_Use_of_Der

Risk Management and Use of Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2014
Derivative Instruments and Hedges, Assets [Abstract]	'
Risk Management and Use of Derivative Financial Instruments	'
	Risk Management and Use of Derivative Financial Instruments
	Risk Management
	In the normal course of our ongoing business operations, we encounter economic risk. There are two main components of economic risk that impact us: interest rate risk and market risk. We are primarily subject to interest rate risk on our interest-bearing assets and liabilities. Market risk includes changes in the value of our properties and related loans.
	Derivative Financial Instruments
	When we use derivative instruments, it is generally to reduce our exposure to fluctuations in interest rates. We have not entered, and do not plan to enter into, financial instruments for trading or speculative purposes. In addition to derivative instruments that we entered into on our own behalf, we may also be a party to derivative instruments that are embedded in other contracts, which are considered to be derivative instruments. The primary risks related to our use of derivative instruments include default by a counterparty to a hedging arrangement on its obligation and a downgrade in the credit quality of a counterparty to such an extent that our ability to sell or assign our side of the hedging transaction is impaired. While we seek to mitigate these risks by entering into hedging arrangements with counterparties that are large financial institutions that we deem to be creditworthy, it is possible that our hedging transactions, which are intended to limit losses, could adversely affect our earnings. Furthermore, if we terminate a hedging arrangement, we may be obligated to pay certain costs, such as transaction or breakage fees. We have established policies and procedures for risk assessment and the approval, reporting and monitoring of derivative financial instrument activities.
	We measure derivative instruments at fair value and record them as assets or liabilities, depending on our rights or obligations under the applicable derivative contract. Derivatives that are not designated as hedges must be adjusted to fair value through earnings. For a derivative designated and that qualified as a cash flow hedge, the effective portion of the change in fair value of the derivative is recognized in Other comprehensive loss until the hedged item is recognized in earnings. The ineffective portion of a derivative’s change in fair value is immediately recognized in earnings.
	The following table sets forth certain information regarding our derivative instruments on our Consolidated Hotels (in thousands):
	Derivatives Designated		Asset Derivatives Fair Value at					Liability Derivatives Fair Value at
	as Hedging Instruments	Balance Sheet Location	30-Jun-14		December 31, 2013			30-Jun-14			31-Dec-13
	Interest rate swaps	Other assets	$	295	$	664		$	—		$	—
	Interest rate cap	Other assets	83		—			—			—
	Interest rate swaps	Accounts payable, accrued expenses and other liabilities	—		—			(1,080		)	(605		)
			$	378	$	664		$	(1,080	)	$	(605	)
	All derivative transactions with an individual counterparty are governed by a master International Swap and Derivatives Association agreement, which can be considered as a master netting arrangement; however, we report all our derivative instruments on a gross basis on our consolidated financial statements. At both June 30, 2014 and December 31, 2013, no cash collateral had been posted nor received for any of our derivative positions.
	We recognized a loss of $1.5 million and a gain of $1.2 million in Other comprehensive loss on derivatives in connection with our interest rate swaps during the three months ended June 30, 2014 and 2013, respectively, and a loss of $2.2 million and a gain of $1.0 million during the six months ended June 30, 2014 and 2013, respectively.
	We reclassified losses of $0.4 million and $0.1 million from Other comprehensive loss on derivatives into interest expense during the three months ended June 30, 2014 and 2013, respectively, and losses of $0.8 million and $0.2 million during the six months ended June 30, 2014 and 2013, respectively, in connection with our interest rate swaps.
	Interest Rate Swaps and Cap
	We are exposed to the impact of interest rate changes primarily through our borrowing activities. To limit this exposure, we attempt to obtain mortgage financing on a long-term, fixed-rate basis. However, from time to time, we or our investment partners may obtain variable-rate non-recourse mortgage loans and, as a result, may enter into interest rate swap or cap agreements with counterparties. Interest rate swaps, which effectively convert the variable-rate debt service obligations of the loan to a fixed rate, are agreements in which one party exchanges a stream of interest payments for a counterparty’s stream of cash flow over a specific period. The notional, or face, amount on which the swaps are based is not exchanged. An interest rate cap limits the effective borrowing rate of variable-rate debt obligations while allowing participants to share in downward shifts in interest rates. Our objective in using these derivatives is to limit our exposure to interest rate movements.
	The interest rate swaps and cap that we had outstanding on our Consolidated Hotel investments at June 30, 2014 were designated as cash flow hedges and are summarized as follows (dollars in thousands):
		Number of	Notional		Fair Value at
	Interest Rate Derivatives	Instruments	Amount		30-Jun-14
	Interest rate swaps	5	$	204,560	$	(785	)
	Interest rate cap	1	34,000		83
					$	(702	)
	Amounts reported in Other comprehensive loss related to interest rate swaps will be reclassified to interest expense as interest payments are made on our variable-rate debt. At June 30, 2014, we estimate that an additional $1.6 million, inclusive of amounts attributable to noncontrolling interests of $0.2 million, will be reclassified as interest expense during the next 12 months related to our interest rate swaps.
	Some of the agreements we have with our derivative counterparties contain certain credit contingent provisions that could result in a declaration of default against us regarding our derivative obligations if we either default or are capable of being declared in default on certain of our indebtedness. At June 30, 2014, we had not been declared in default on any of our derivative obligations. The estimated fair value of our derivatives that were in a net liability position was $1.2 million and $0.7 million at June 30, 2014 and December 31, 2013, respectively, which included accrued interest and any adjustment for nonperformance risk. If we had breached any of these provisions at either June 30, 2014 or December 31, 2013, we could have been required to settle our obligations under these agreements at their aggregate termination value of $1.2 million and $0.7 million, respectively.
	Portfolio Concentration Risk
	At June 30, 2014, we were exposed to concentrations within the brands under which we operate our hotels and within the geographic areas in which we have invested to date. We operate in the domestic U.S. market only. For the six months ended June 30, 2014, we generated more than 10% of our revenue from hotels in each of the following states: Florida (21.1%), California (20.5%), Illinois (15.3%), and Tennessee (10.9%) and generated more than 10% of our revenue from hotels included in the following brands: Marriott (36.6%, including Courtyard by Marriott, Marriott and Renaissance), Independent (28.9%, including Hawks Cay Resort and Hutton Hotel Nashville), Hilton (13.0%, including Hampton Inn, Hilton Garden Inn and Homewood Suites) and Fairmont (11.6%).

Debt

Debt	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Debt	'
	Debt
	The following table presents the non-recourse debt on our Consolidated Hotel investments (in thousands):
							Carrying Amount at
	Consolidated Hotels		Interest Rate		Rate Type	Current Maturity Date	30-Jun-14		31-Dec-13
	Hampton Inn Boston Braintree (a) (b)		5.00%		Variable	May-15	$	9,600	$	9,653
	Lake Arrowhead Resort and Spa (c)		4.34%		Fixed	Jul-15	17,910		17,865
	Hawks Cay Resort (a) (b)		5.74%		Variable	Nov-16	79,000		79,000
	Courtyard Pittsburgh Shadyside (a) (b) (d)		4.09%		Variable	Mar-17	20,750		20,750
	Courtyard San Diego Mission Valley (a) (b)		4.60%		Variable	Dec-17	50,960		51,230
	Hilton Southeast Portfolio:
	Hampton Inn Memphis Beale Street		4.07%		Fixed	Mar-18	21,853		22,118
	Hampton Inn Atlanta Downtown		4.12%		Fixed	Mar-18	13,525		13,600
	Hampton Inn Birmingham Colonnade		4.12%		Fixed	Mar-18	9,348		9,400
	Hampton Inn Frisco Legacy Park		4.12%		Fixed	Mar-18	9,148		9,200
	Hilton Garden Inn Baton Rouge Airport		4.12%		Fixed	Mar-18	9,746		9,800
	Fairmont Sonoma Mission Inn & Spa (b)		4.13%		Variable	Jul-18	44,000		44,000
	Sheraton Austin Hotel at the Capitol (e)		3.96%		Fixed	Jun-19	67,000		—
	Marriott Boca Raton at Boca Center (b) (e) (f)		3.40%		Variable	Jul-19	34,000		—
	Hilton Garden Inn New Orleans French Quarter/CBD		5.30%		Fixed	Jul-19	10,868		10,942
	Hutton Hotel Nashville		5.25%		Fixed	Jul-20	44,000		44,000
	Renaissance Chicago Downtown		4.71%		Fixed	Jan-21	90,000		90,000
	Courtyard Times Square West (e)		4.62%		Fixed	Jun-21	56,000		—
	Hampton Inn & Suites/Homewood Suites Denver Downtown Convention Center (e)		3.80%		Fixed	Jul-21	53,000		—
	Holiday Inn Manhattan 6th Avenue Chelsea		4.49%		Fixed	Jun-23	80,000		80,000
	Hyatt Place Austin Downtown (e)		4.88%		Fixed	Apr-24	56,500		—
	Marriott Raleigh City Center (g)		4.61%		Fixed	Sep-38	51,500		51,500
							$	828,708	$	563,058
	___________
	(a)	The mortgage loans secured by Hampton Inn Boston Braintree, Courtyard San Diego Mission Valley and Hawks Cay Resort each have two one-year extension options. The mortgage loan secured by Courtyard Pittsburgh Shadyside has a one-year extension option. All of the extensions are subject to certain conditions. The maturity dates in the table do not reflect extension options.
	(b)	These mortgage loans have variable interest rates, which have effectively been converted to fixed rates through the use of interest rate swaps or caps (Note 8). The interest rates presented for these mortgage loans reflect the rate in effect at June 30, 2014 through the use of an interest rate swap or cap.
	(c)	The loan agreement allows early settlement at any time prior to maturity upon 60 days notice with no penalty at a discounted amount comprised of a discounted payoff of $16.0 million and a lender participation payment of up to $2.0 million, provided there is no uncured event of default under the loan agreement or the cash management agreement. The non-discounted principal balance of the debt is $27.4 million.
	(d)	Total mortgage financing commitment is up to $21.0 million, with the difference between the commitment and the carrying amount available for renovation draws.
	(e)	Represents financing obtained in connection with our 2014 Acquisitions, or our 2014 Financings.
	(f)	Total mortgage financing commitment is up to $41.0 million, with the difference between the commitment and the carrying amount available for renovation draws.
	(g)	The mortgage loan includes a call option by the lender, with the earliest repayment date being September 1, 2018.
	Financing Activity During 2014
	In connection with our 2014 Acquisitions (Note 4) during the six months ended June 30, 2014, we obtained new non-recourse mortgage financings totaling $266.5 million with a weighted-average annual interest rate and term of 4.2% and 6.9 years, respectively. We capitalized $2.1 million of deferred financing costs related to these loans.
	Covenants
	Most of our loan agreements contain “lock-box” provisions, which permit the lender to access or sweep a hotel’s restricted cash account and would be triggered under limited circumstances, including the failure to maintain minimum debt service coverage ratios. If the provisions were triggered, the lender would retain a portion of cash sufficient to cover the required debt service; however, we would generally be permitted to spend an amount equal to our budgeted hotel operating expenses, taxes, insurance and capital expenditure reserves for the relevant hotel, even if a lock-box provision were triggered.
	Pursuant to our mortgage loan agreements, our wholly-owned subsidiaries are subject to various operational and financial covenants, including minimum debt service coverage ratios. At June 30, 2014, we were in compliance with the applicable covenants for each of our mortgage loans.
	Scheduled Debt Principal Payments
	Scheduled debt principal payments during the remainder of 2014, each of the next four calendar years following December 31, 2014, and thereafter are as follows (in thousands):
	Years Ending December 31,		Total
	2014 (remainder)		$	1,459
	2015		31,189
	2016		85,119
	2017		76,293
	2018		159,990
	Thereafter through 2038		474,748
			828,798
	Fair market value adjustment (a)		(90		)
	Total		$	828,708
	___________
	(a)	Represents the unamortized fair market value adjustment recorded as of June 30, 2014 in connection with the assumption of the Lake Arrowhead Resort and Spa mortgage loan as part of the acquisition in July 2012.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	Commitments and Contingencies
	At June 30, 2014, we were not involved in any material litigation. Various claims and lawsuits may arise against us in the normal course of business, but we do not expect the results of such proceedings to have a material adverse effect on our consolidated financial position or results of operations.
	Renovation Commitments
	Certain of our hotel franchise and loan agreements require us to make planned renovations to our hotels (Note 4). We do not currently expect to, and are not obligated to, fund any planned renovations on our Unconsolidated Hotels. The following table summarizes our capital commitments related to our Consolidated Hotels (in thousands):
			30-Jun-14			31-Dec-13
	Capital commitments (a)		$	60,322		$	47,120
	Less: paid (a)		(8,490		)	(4,526		)
	Unpaid commitments (b)		51,832			42,594
	Less: amount held in escrow		(37,463		)	(34,939		)
	Unfunded commitments		$	14,369		$	7,655
	___________
	(a)	Includes capital commitments for hotels with unpaid commitments at the end of the respective period.
	(b)	Includes $1.2 million and $2.5 million that was included in Accounts payable, accrued expenses and other liabilities in the consolidated financial statements at June 30, 2014 and December 31, 2013.
	At December 31, 2013, ten hotels were either undergoing renovation or in the planning stage of renovations, of which five were completed during the six months ended June 30, 2014. During the six months ended June 30, 2014, we committed to renovations totaling $14.8 million at three hotels.
	At June 30, 2014, eight hotels were either undergoing renovation or in the planning stage of renovations and as of the date of this report, we currently expect that three of the renovations will be completed during the second half of 2014, three will be completed during the first half of 2015 and the remainder will be completed during the second half of 2015. As of the date of this report, $7.1 million of our unfunded commitment at June 30, 2014 is expected to be funded by future renovation draws on the related mortgage loans and the remainder is expected to be funded through our cash accounts.
	Ground Lease Commitments
	We have three hotels that are subject to ground leases, each described below.
	The first hotel is subject to a long-term ground lease, which expires on June 30, 2087. The ground lease provides for rental payments consisting of base rent and percentage rent. Base rent increases 3% annually until lease expiration. In 2018, and at 10-year intervals thereafter, the base rent will be reset to an amount equal to the greater of the then current base rent and a percentage of the then market value of the land, as defined in the lease agreement. Percentage rent is 2% of gross room revenue, as defined in the lease agreement.
	The second hotel is subject to a long-term ground lease, which expires on 1/22/2106. The lease provides for an annual base rent of less than $0.1 million, payable monthly. At the end of the lease term, we have the option to purchase the land for a purchase price equal to the fair market value, as defined by the lease agreement.
	The third hotel is subject to a long-term ground lease, which expires on April 30, 2099. The ground lease provides for rental payments consisting of base rent and percentage rent. Commencing in January 2015, base rent will increase by an amount equal to the greater of 2% times the previous year base rent or a contractual increase indexed to the change in the U.S. Consumer Price Index. On January 1st of both the 30th and 50th lease year, base rent will be reset to an amount equal to the greater of the then current base rent and 2% of the then market value of the land, as defined in the lease agreement. Percentage rent, as defined in the lease agreement, will only be paid if and when gross revenue, as defined in the lease agreement, exceeds $23.5 million for any given year.
	Scheduled future minimum ground lease payments during the remainder of 2014, each of the next four calendar years following December 31, 2014, and thereafter are as follows (in thousands):
	Years Ending December 31,		Total
	2014 (remainder)		$	1,494
	2015		3,041
	2016		3,110
	2017		3,181
	2018		3,254
	Thereafter through 2106		661,331
	Total		$	675,411
	For the three and six months ended June 30, 2014, we recorded rent expense of $0.7 million and $1.0 million, respectively, inclusive of percentage rents of $0.2 million and $0.3 million, respectively, related to these ground leases, which are included in Property taxes, insurance and rent in the consolidated financial statements. No such rent expense was recorded during the three and six months ended June 30, 2013.

Equity

Equity	6 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
Equity	'
	Equity
	Stock-Based Payments
	2010 Equity Incentive Plan and Directors Incentive Plan — 2010 Incentive Plan
	We maintain the 2010 Equity Incentive Plan, which authorizes the issuance of shares of our common stock to our officers and officers and employees of the subadvisor, who perform services on our behalf, and to non-director members of the investment committee through stock-based awards. The 2010 Equity Incentive Plan provides for the grant of RSUs and dividend equivalent rights. We also maintain the Directors Incentive Plan — 2010 Incentive Plan, which authorizes the issuance of shares of our common stock to our independent directors. The Directors Incentive Plan — 2010 Incentive Plan provides for the grant of RSUs and dividend equivalent rights. A maximum of 4,000,000 awards may be granted, in the aggregate, under these two plans, of which 3,901,315 shares remained available for future grants at June 30, 2014. We issued 35,000 and 45,000 RSUs in April 2014 and 2013, respectively, to employees of our subadvisor, which are scheduled to vest over three years. We issued 4,500 and 1,000 RSUs in June 2014 and 2013, respectively, to each of our four independent directors each with a market price of $10.00 per unit, which vested immediately.
	We recognized stock-based compensation expense associated with these awards of $0.2 million and $0.3 million for the three and six months ended June 30, 2014, respectively, and $0.1 million for both the three and six months ended June 30, 2013, associated with these awards. Stock-based compensation expense is included within Corporate general and administrative expense in the consolidated financial statements.
	The awards to employees of our subadvisor had a weighted-average remaining contractual term of 2.3 years at June 30, 2014. At June 30, 2014, we had 58,586 nonvested shares, and we currently expect to recognize stock-based compensation expense totaling approximately $0.5 million over the remaining vesting period. We have not recognized any income tax benefit in earnings for our share-based compensation arrangements since the inception of these two plans.
	Distributions Declared
	Our second quarter 2014 declared daily distribution was $0.0015109 per share and was paid on July 15, 2014 to stockholders of record on each day during the second quarter, aggregating to $10.4 million.
	Proceeds from Sale of Common Stock
	Proceeds totaling $1.9 million, net of selling commissions and dealer manager fees, from 207,629 shares of common stock that we sold during the six months ended June 30, 2014 were received subsequent to June 30, 2014.

Basis_of_Presentation_Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Basis of Consolidation	'
	Basis of Consolidation
	Our consolidated financial statements reflect all of our accounts, including those of our controlled subsidiaries. The portion of equity in a consolidated subsidiary that is not attributable, directly or indirectly, to us is presented as noncontrolling interests. All significant intercompany accounts and transactions have been eliminated.
	When we obtain an economic interest in an entity, we evaluate the entity to determine if it is a variable interest entity, or VIE, and, if so, whether we are deemed to be the primary beneficiary and are therefore required to consolidate the entity. We performed an analysis of all of our subsidiary entities to determine whether they qualify as VIEs and whether they should be consolidated or accounted for as equity investments in an unconsolidated venture. As a result of our assessment, we have concluded that none of our subsidiaries is a VIE. All our subsidiaries are either consolidated or accounted for as equity investments under the voting interest entity model.
	We account for the capital interest held by Carey Watermark Holdings in the Operating Partnership as a noncontrolling interest. Based on the terms of the Operating Partnership agreement and that the initial investors are not yet earning their minimal return, the non-controlling interest representing Carey Watermark Holding’s interest in the Operating Partnership has absorbed the operating losses to the extent of its original investment, and accordingly, no losses were allocated to Carey Watermark Holdings during the six months ended June 30, 2014 or
Equity Method Investments	'
	Under the conventional approach of accounting for equity method investments, an investor applies its percentage ownership interest to the venture’s net income to determine the investor’s share of the earnings or losses of the venture. This approach is inappropriate to use if the venture’s capital structure gives different rights and priorities to its investors. We have priority returns on our equity method investments. Therefore, we follow the hypothetical liquidation at book value method in determining our share of the ventures’ earnings or losses for the reporting period as this method better reflects our claim on the ventures’ book value at the end of each reporting period. Earnings for our equity method investments are recognized in accordance with each respective investment agreement and, where applicable, based upon the allocation of the investment’s net assets at book value as if the investment were hypothetically liquidated at the end of each reporting period. Due to our preferred interests, we are not responsible for, and will not reflect, losses to the extent our partners continue to have equity in the investments.
Intangible Assets and Liabilities	'
	Amortization of in-place lease intangibles and the Villa Rental Program is included in Depreciation and amortization, and amortization of hotel parking garage lease, hotel ground lease and above-market ground lease intangibles is included in Property taxes, insurance and rent in the consolidated financial statements.
Fair Value Measurements	'
	The fair value of an asset is defined as the exit price, which is the amount that would either be received when an asset is sold or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The guidance establishes a three-tier fair value hierarchy based on the inputs used in measuring fair value. These tiers are: Level 1, for which quoted market prices for identical instruments are available in active markets, such as money market funds, equity securities and U.S. Treasury securities; Level 2, for which there are inputs other than quoted prices included within Level 1 that are observable for the instrument, such as certain derivative instruments including interest rate caps and swaps; and Level 3, for securities that do not fall into Level 1 or Level 2 and for which little or no market data exists, therefore requiring us to develop our own assumptions.
	Derivative Assets and Liabilities — Our derivative assets and liabilities are comprised of interest rate swaps and an interest rate cap. These derivative instruments were measured at fair value using readily observable market inputs, such as quotations on interest rates. These derivative instruments were classified as Level 2 as these instruments are custom, over-the-counter contracts with various bank counterparties that are not traded in an active market (Note 8).
Derivatives	'
	We measure derivative instruments at fair value and record them as assets or liabilities, depending on our rights or obligations under the applicable derivative contract. Derivatives that are not designated as hedges must be adjusted to fair value through earnings. For a derivative designated and that qualified as a cash flow hedge, the effective portion of the change in fair value of the derivative is recognized in Other comprehensive loss until the hedged item is recognized in earnings. The ineffective portion of a derivative’s change in fair value is immediately recognized in earnings.
Recent Accounting Requirements	'
	ASU 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360). ASU 2014-08 changes the requirements for reporting discontinued operations. A discontinued operation may include a component of an entity or a group of components of an entity, or a business. Under this new guidance, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a “strategic shift that has or will have a major effect on an entity’s operations and financial results.” The new guidance also requires disclosures including pretax profit or loss and significant gains or losses arising from dispositions that represent an “individually significant component of an entity,” but do not meet the criteria to be reported as discontinued operations under ASU 2014-08. In the ordinary course of business we may sell properties, which, under prior accounting guidance, would have been reported each as discontinued operations; however, under ASU 2014-08 such property dispositions typically would not meet the criteria to be reported as discontinued operations. We elected to early adopt ASU 2014-08 prospectively for any dispositions after December 31, 2013. Consequently, individually significant operations that are sold or classified as held-for-sale during 2014 will not be reclassified to discontinued operations in the consolidated financial statements, but will be disclosed in the Notes to the consolidated financial statements. This ASU did not have any impact on our financial position or results of operations for any of the periods presented.
	ASU 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2014-09 is a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. Additionally, this guidance modifies disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. ASU 2014-09 is effective for us in 2017, and early adoption is not permitted. In adopting ASU 2014-09, companies may use either a full retrospective or a modified retrospective approach. We are currently evaluating the impact of ASU 2014-09 on our consolidated financial statements and have not yet determined the method by which we will adopt the standard in 2017.

Basis_of_Presentation_Basis_of

Basis of Presentation Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Schedule of Error Corrections and Prior Period Adjustments	'
	We assessed the materiality of the errors described above on prior periods’ financial statements in accordance with Accounting Standards Codification 250 and the SEC’s Staff Accounting Bulletin No. 99, “Materiality,” and concluded that the impact of the errors was not material to any previously issued financial statements. We have properly reflected the correction below in this Report. In addition, we have added supplemental disclosures of these non-cash financing activities. The errors impacted cash flow provided by (used in) operating activities, net cash used in investing activities and net cash provided by financing activities, and did not affect our consolidated balance sheets, consolidated statements of operations, consolidated statements of comprehensive loss, consolidated statements of equity or cash balances for any reporting periods.
	(in thousands)
		Net Cash (Used in) Provided by									Net Cash (Used in) Provided by										Net Cash Provided by (Used in)
		Operating Activities									Investing Activities										Financing Activities
		As Reported			Adjustment			As Revised			As Reported			Adjustment				As Revised			As Reported		Adjustment				As Revised
	Six Months Ended	$	(6,116	)	$	673	(a)	$	(5,443	)	$	(319,916	)	$	—		(a)	$	(319,916	)	$	388,748	$	(673	)	(a)	$	388,075
	June 30, 2013
		$	(5,443	)	$	2,742	(b)	$	(2,701	)	$	(319,916	)	$	(2,742	)	(b)	$	(322,658	)	$	388,075	$	—		(b)	$	388,075
	___________
	(a)	Reflects adjustments for non-cash asset management fees described above.
	(b)	Reflects adjustments for hotel acquisition deposits and loan commitments described above.

Agreements_and_Transactions_wi1

Agreements and Transactions with Related Parties (Tables)	6 Months Ended
	Jun. 30, 2014
Related Party Transactions [Abstract]	'
Summary of fees paid to Related Parties	'
	The following tables present a summary of fees we paid and expenses we reimbursed to the advisor, subadvisor and other affiliates, as described below, in accordance with the terms of those agreements (in thousands):
		Three Months Ended June 30,				Six Months Ended June 30,
		2014		2013		2014		2013
	Amounts Included in the Consolidated Statements of Operations:
	Acquisition fees	$	10,753	$	4,928	$	10,753	$	8,355
	Asset management fees	1,597		561		2,999		951
	Personnel and overhead reimbursements	1,273		344		2,588		631
	Available Cash Distribution	108		—		1,055		—
		$	13,731	$	5,833	$	17,395	$	9,937
	Other Transaction Fees Incurred:
	Selling commissions and dealer manager fees	$	9,073	$	13,423	$	10,845	$	20,305
	Offering costs	1,591		2,761		2,317		4,166
		$	10,664	$	16,184	$	13,162	$	24,471
		June 30, 2014		December 31, 2013
	Amounts Due to Related Parties and Affiliates:
	Organization and offering costs due to the advisor	$	626	$	62
	Reimbursable costs	937		270
	Other amounts due to the advisor	2,725		4,563
	Due to joint venture partners	330		330
	Due to Carey Financial	196		—
		$	4,814	$	5,225

Net_Investment_in_Hotels_Table

Net Investment in Hotels (Tables)	6 Months Ended
	Jun. 30, 2014
Real Estate [Abstract]	'
Schedule of Hotel Properties	'
	Net investment in hotels is summarized as follows (in thousands):
		June 30, 2014				December 31, 2013
	Buildings	$	1,042,327			$	685,108
	Land	168,922				124,450
	Furniture, fixtures and equipment	71,062				46,757
	Building and site improvements	15,306				11,993
	Construction in progress	3,749				3,374
	Hotels, at cost	1,301,366				871,682
	Less: Accumulated depreciation	(37,460		)		(18,397		)
	Net investments in hotels	$	1,263,906			$	853,285
Consolidated and Unconsolidated Hotels	'
	The following table sets forth acquisition data for our Consolidated Hotels and therefore excludes subsequent improvements and capitalized costs. Amounts for our initial investment represent the fair value of net assets acquired less the fair value of noncontrolling interests, exclusive of acquisition expenses and the fair value of any debt assumed, at time of acquisition.
	(Dollars in thousands)
	Hotels		State		Number			% Owned			Our Initial			Acquisition Date		Hotel Type
					of Rooms						Investment
	Consolidated Hotels
	Hampton Inn Boston Braintree		Massachusetts		103			100	%		$	12,500		May 31, 2012		Select-service
	Hilton Garden Inn New Orleans French Quarter/CBD		Louisiana		155			88	%		16,176			June 8, 2012		Select-service
	Lake Arrowhead Resort and Spa		California		173			97	%		24,039			July 9, 2012		Full-service
	Courtyard San Diego Mission Valley		California		317			100	%		85,000			December 6, 2012		Select-service
	Hilton Southeast Portfolio:
	Hampton Inn Atlanta Downtown		Georgia		119			100	%		18,000			February 14, 2013		Select-service
	Hampton Inn Frisco Legacy Park		Texas		105			100	%		16,100			February 14, 2013		Select-service
	Hampton Inn Memphis Beale Street		Tennessee		144			100	%		30,000			February 14, 2013		Select-service
	Hampton Inn Birmingham Colonnade		Alabama		133			100	%		15,500			February 14, 2013		Select-service
	Hilton Garden Inn Baton Rouge Airport		Louisiana		131			100	%		15,000			February 14, 2013		Select-service
	Courtyard Pittsburgh Shadyside		Pennsylvania		132			100	%		29,900			March 12, 2013		Select-service
	Hutton Hotel Nashville		Tennessee		247			100	%		73,600			May 29, 2013		Full-service
	Holiday Inn Manhattan 6th Avenue Chelsea		New York		226			100	%		113,000			June 6, 2013		Full-service
	Fairmont Sonoma Mission Inn & Spa		California		226			75	%		76,647			July 10, 2013		Full-service
	Marriott Raleigh City Center		North Carolina		400			100	%		82,193			August 13, 2013		Full-service
	Hawks Cay Resort (a)		Florida		177			100	%		131,301			October 23, 2013		Full-service
	Renaissance Chicago Downtown		Illinois		553			100	%		134,939			December 20, 2013		Full-service
	Hyatt Place Austin Downtown (b)		Texas		296			100	%		86,673			April 1, 2014		Select-service
	Courtyard Times Square West (b)		New York		224			100	%		87,443			May 27, 2014		Select-service
	Sheraton Austin Hotel at the Capitol (b)		Texas		363			80	%		90,220			May 28, 2014		Full-service
	Marriott Boca Raton at Boca Center (b)		Florida		256			100	%		61,794			June 12, 2014		Full-service
	Hampton Inn & Suites/Homewood Suites Denver Downtown Convention Center (b)		Colorado		302			100	%		81,262			June 25, 2014		Select-service
					4,782						$	1,281,287
	_________
	(a)	The resort also includes approximately 250 two-, three-, and four-bedroom villas in the resort residential management program, which are available for rent and which we refer to as the Villa Rental Program.
	(b)	These hotels were acquired during the six months ended June 30, 2014 and are referred to, collectively, as our 2014 Acquisitions.
Schedule Net Assets Acquired in Business Combination	'
	The following tables present a summary of assets acquired and liabilities assumed in these business combinations, each at the date of acquisition, and revenues and earnings thereon, since their respective dates of acquisition through June 30, 2014 (in thousands):
		2014 Acquisitions
		Hyatt Place Austin Downtown				Courtyard Times Square West				Sheraton Austin Hotel at the Capitol			Marriott Boca Raton at Boca Center				Hampton Inn & Suites/Homewood Suites Denver Downtown Convention Center
	Cash consideration	$	86,673			$	87,443			$	90,220		$	61,794			$	81,262
	Assets acquired at fair value:
	Land	$	9,100			$	—			$	18,210		$	11,500			$	5,663
	Building	73,700				87,437				78,703			46,149				71,598
	Furniture, fixtures and equipment	4,187				3,968				1,983			4,237				4,228
	Accounts receivable	98				—				92			55				—
	Other assets	179				368				373			295				362
	Liabilities assumed at fair value:
	Accounts payable, accrued expenses and other liabilities	(591		)		(4,330		)		(1,255		)	(442		)		(589		)
	Contributions from noncontrolling interests at fair value	—				—				(7,886		)	—				—
	Net assets acquired at fair value	$	86,673			$	87,443			$	90,220		$	61,794			$	81,262
Schedule Of Revenues and Net Income	'
		For the Period from
		1-Apr-14				27-May-14				28-May-14			June 12, 2013				June 25, 2014 through
		through				through				through			through				30-Jun-14
		30-Jun-14				30-Jun-14				30-Jun-14			30-Jun-14
	Revenues	$	4,908			$	2,039			$	2,251		$	602			$	287
	Net income	$	1,485			$	332			$	491		$	9			$	92
Pro Forma Information	'
	The following unaudited consolidated pro forma financial information presents our financial results as if the Consolidated Hotel investments that we completed during the six months ended June 30, 2014, and the new financings related to these acquisitions, had occurred on January 1, 2013. These transactions were accounted for as business combinations. The pro forma financial information is not necessarily indicative of what the actual results would have been had the acquisitions actually occurred on January 1, 2013, nor does it purport to represent the results of operations for future periods.
	(Dollars in thousands, except per share amounts)
		Three Months Ended June 30,								Six Months Ended June 30,
		2014				2013				2014			2013
	Pro forma total revenues	$	101,192			$	44,038			$	184,698		$	80,456
	Pro forma net income (loss)	$	3,471			$	537			$	(2,164	)	$	(14,280	)
	(Income) loss from continuing operations attributable to noncontrolling interests	(630		)		23				(573		)	254
	Pro forma income (loss) from continuing operations attributable to CWI stockholders	$	2,841			$	560			$	(2,737	)	$	(14,026	)
	Pro forma income (loss) per share:
	Net income (loss) attributable to CWI stockholders	$	0.03			$	0.01			$	(0.03	)	$	(0.26	)
	Pro forma weighted average shares (a)	87,944,509				56,235,720				88,330,314			53,863,736
	___________
	(a)	The pro forma weighted average shares outstanding were determined as if the number of shares issued in our public offering in order to raise the funds used for our 2014 and 2013 acquisitions were issued on January 1, 2013 and January 1, 2012, respectively. All acquisition costs for our acquisitions completed during the six months ended June 30, 2014 and 2013 are presented as if they were incurred on January 1, 2013 and 2012, respectively.

Equity_Investment_in_Real_Esta1

Equity Investment in Real Estate (Tables)	6 Months Ended
	Jun. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]	'
Schedule Equity Method Investments	'
	The following table sets forth our share of equity (loss) earnings from our Unconsolidated Hotels, which are based on the hypothetical liquidation at book value model as well as certain depreciation and amortization adjustments related to basis differentials from acquisitions of certain investments (in thousands):
			Three Months Ended June 30,						Six Months Ended June 30,
	Venture		2014			2013			2014			2013
	Long Beach Venture (a)		$	—		$	622		$	—		$	672
	Hyatt French Quarter Venture		559			219			930			518
	Westin Atlanta Venture		(286		)	(491		)	(532		)	(708		)
			$	273		$	350		$	398		$	482
	___________
	(a)	We sold our 49% interest in the Long Beach Venture in July 2013.
	The following table sets forth our ownership interests in our equity investments in real estate and their respective carrying values. The carrying values of these ventures are affected by the timing and nature of distributions (dollars in thousands):
															Carrying Value at
	Hotels		State		Number		% Owned		Our Initial			Acquisition Date		Hotel Type	June 30, 2014		December 31, 2013
					of Rooms				Investment (a)
	Unconsolidated Hotels
	Hyatt French Quarter Venture (b) (c)		Louisiana		254		80	%	$	13,000		September 6, 2011		Full-service	$	4,830	$	4,395
	Westin Atlanta Venture (d)		Georgia		372		57	%	13,170			October 3, 2012		Full-service	9,946		10,520
					626				$	26,170					$	14,776	$	14,915
	___________
	(a)	This amount represents purchase price plus capitalized costs, inclusive of fees paid to the advisor, at the time of acquisition.
	(b)	The decrease from our initial investment as compared to our carrying value at June 30, 2014 is primarily a result of our receipt of a distribution totaling $6.2 million representing a return of capital for our share of mortgage refinancing proceeds during the third quarter of 2013.
	(c)	We received cash distributions of $0.3 million during the six months ended June 30, 2014.
	(d)	We received cash distributions of less than $0.1 million during the six months ended June 30, 2014.

Intangible_Assets_and_Liabilit1

Intangible Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Schedule Of Acquired Finite Lived Intangible Assets Liabilities By Major Class	'
	In connection with our investment activity during the six months ended June 30, 2014, we have recorded net lease intangibles comprised as follows (life in years, dollars in thousands):
			Weighted-Average Life		Amount
	Amortizable Intangible Liability
	Above-market hotel ground lease		85		$	(2,100	)
Schedule of Intangible Assets and Liabilities	'
	Intangible assets and liabilities are summarized as follows (dollars in thousands):
				30-Jun-14											31-Dec-13
		Amortization Period (years)		Gross				Accumulated				Net Carrying			Gross		Accumulated			Net Carrying
				Carrying				Amortization				Amount			Carrying		Amortization			Amount
				Amount											Amount
	Amortizable Intangible Assets
	Villa Rental Program	45		$	31,700			$	(484	)		$	31,216		$	31,700	$	(133	)	$	31,567
	Below-market hotel ground leases	10 – 92.5		9,446				(273		)		9,173			9,446		(52		)	9,394
	Below-market hotel parking garage lease	92.5		1,490				(15		)		1,475			1,490		(7		)	1,483
	In-place leases	1 – 21		398				(117		)		281			398		(47		)	351
	Total intangible assets			$	43,034			$	(889	)		$	42,145		$	43,034	$	(239	)	$	42,795
	Amortizable Intangible Liability
	Above-market hotel ground lease	85		$	(2,100	)		$	—			$	(2,100	)	$	—	$	—		$	—
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	'
	Based on the intangible assets recorded at June 30, 2014, scheduled annual amortization of intangibles for the remainder of 2014, each of the next four calendar years following December 31, 2014, and thereafter is as follows (in thousands):
	Years Ending December 31,		Increase to Depreciation and Amortization				Increase to Property taxes, Insurance and Rent				Total
	2014 (remainder)		$	396			$	228			$	624
	2015		778				420				1,198
	2016		766				413				1,179
	2017		730				407				1,137
	2018		720				387				1,107
	Thereafter		28,105				6,695				34,800
	Total		$	31,495			$	8,550			$	40,045

Risk_Management_and_Use_of_Der1

Risk Management and Use of Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2014
Derivative Instruments and Hedges, Assets [Abstract]	'
Schedule of Derivative Instruments on our Consolidated Hotels	'
	The following table sets forth certain information regarding our derivative instruments on our Consolidated Hotels (in thousands):
	Derivatives Designated		Asset Derivatives Fair Value at					Liability Derivatives Fair Value at
	as Hedging Instruments	Balance Sheet Location	30-Jun-14		December 31, 2013			30-Jun-14			31-Dec-13
	Interest rate swaps	Other assets	$	295	$	664		$	—		$	—
	Interest rate cap	Other assets	83		—			—			—
	Interest rate swaps	Accounts payable, accrued expenses and other liabilities	—		—			(1,080		)	(605		)
			$	378	$	664		$	(1,080	)	$	(605	)
Schedule of Derivative Instruments	'
	The interest rate swaps and cap that we had outstanding on our Consolidated Hotel investments at June 30, 2014 were designated as cash flow hedges and are summarized as follows (dollars in thousands):
		Number of	Notional		Fair Value at
	Interest Rate Derivatives	Instruments	Amount		30-Jun-14
	Interest rate swaps	5	$	204,560	$	(785	)
	Interest rate cap	1	34,000		83
					$	(702	)

Debt_Tables

Debt (Tables)	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Schedule of Debt	'
	The following table presents the non-recourse debt on our Consolidated Hotel investments (in thousands):
							Carrying Amount at
	Consolidated Hotels		Interest Rate		Rate Type	Current Maturity Date	30-Jun-14		31-Dec-13
	Hampton Inn Boston Braintree (a) (b)		5.00%		Variable	May-15	$	9,600	$	9,653
	Lake Arrowhead Resort and Spa (c)		4.34%		Fixed	Jul-15	17,910		17,865
	Hawks Cay Resort (a) (b)		5.74%		Variable	Nov-16	79,000		79,000
	Courtyard Pittsburgh Shadyside (a) (b) (d)		4.09%		Variable	Mar-17	20,750		20,750
	Courtyard San Diego Mission Valley (a) (b)		4.60%		Variable	Dec-17	50,960		51,230
	Hilton Southeast Portfolio:
	Hampton Inn Memphis Beale Street		4.07%		Fixed	Mar-18	21,853		22,118
	Hampton Inn Atlanta Downtown		4.12%		Fixed	Mar-18	13,525		13,600
	Hampton Inn Birmingham Colonnade		4.12%		Fixed	Mar-18	9,348		9,400
	Hampton Inn Frisco Legacy Park		4.12%		Fixed	Mar-18	9,148		9,200
	Hilton Garden Inn Baton Rouge Airport		4.12%		Fixed	Mar-18	9,746		9,800
	Fairmont Sonoma Mission Inn & Spa (b)		4.13%		Variable	Jul-18	44,000		44,000
	Sheraton Austin Hotel at the Capitol (e)		3.96%		Fixed	Jun-19	67,000		—
	Marriott Boca Raton at Boca Center (b) (e) (f)		3.40%		Variable	Jul-19	34,000		—
	Hilton Garden Inn New Orleans French Quarter/CBD		5.30%		Fixed	Jul-19	10,868		10,942
	Hutton Hotel Nashville		5.25%		Fixed	Jul-20	44,000		44,000
	Renaissance Chicago Downtown		4.71%		Fixed	Jan-21	90,000		90,000
	Courtyard Times Square West (e)		4.62%		Fixed	Jun-21	56,000		—
	Hampton Inn & Suites/Homewood Suites Denver Downtown Convention Center (e)		3.80%		Fixed	Jul-21	53,000		—
	Holiday Inn Manhattan 6th Avenue Chelsea		4.49%		Fixed	Jun-23	80,000		80,000
	Hyatt Place Austin Downtown (e)		4.88%		Fixed	Apr-24	56,500		—
	Marriott Raleigh City Center (g)		4.61%		Fixed	Sep-38	51,500		51,500
							$	828,708	$	563,058
	___________
	(a)	The mortgage loans secured by Hampton Inn Boston Braintree, Courtyard San Diego Mission Valley and Hawks Cay Resort each have two one-year extension options. The mortgage loan secured by Courtyard Pittsburgh Shadyside has a one-year extension option. All of the extensions are subject to certain conditions. The maturity dates in the table do not reflect extension options.
	(b)	These mortgage loans have variable interest rates, which have effectively been converted to fixed rates through the use of interest rate swaps or caps (Note 8). The interest rates presented for these mortgage loans reflect the rate in effect at June 30, 2014 through the use of an interest rate swap or cap.
	(c)	The loan agreement allows early settlement at any time prior to maturity upon 60 days notice with no penalty at a discounted amount comprised of a discounted payoff of $16.0 million and a lender participation payment of up to $2.0 million, provided there is no uncured event of default under the loan agreement or the cash management agreement. The non-discounted principal balance of the debt is $27.4 million.
	(d)	Total mortgage financing commitment is up to $21.0 million, with the difference between the commitment and the carrying amount available for renovation draws.
	(e)	Represents financing obtained in connection with our 2014 Acquisitions, or our 2014 Financings.
	(f)	Total mortgage financing commitment is up to $41.0 million, with the difference between the commitment and the carrying amount available for renovation draws.
	(g)	The mortgage loan includes a call option by the lender, with the earliest repayment date being September 1, 2018.
Debt Maturity Schedule	'
	Scheduled debt principal payments during the remainder of 2014, each of the next four calendar years following December 31, 2014, and thereafter are as follows (in thousands):
	Years Ending December 31,		Total
	2014 (remainder)		$	1,459
	2015		31,189
	2016		85,119
	2017		76,293
	2018		159,990
	Thereafter through 2038		474,748
			828,798
	Fair market value adjustment (a)		(90		)
	Total		$	828,708
	___________
	(a)	Represents the unamortized fair market value adjustment recorded as of June 30, 2014 in connection with the assumption of the Lake Arrowhead Resort and Spa mortgage loan as part of the acquisition in July 2012.

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Schedule of Funding Commitments	'
	The following table summarizes our capital commitments related to our Consolidated Hotels (in thousands):
		30-Jun-14			31-Dec-13
	Capital commitments (a)	$	60,322		$	47,120
	Less: paid (a)	(8,490		)	(4,526		)
	Unpaid commitments (b)	51,832			42,594
	Less: amount held in escrow	(37,463		)	(34,939		)
	Unfunded commitments	$	14,369		$	7,655
Schedule of Future Minimum Lease Payments for Leases	'
	Scheduled future minimum ground lease payments during the remainder of 2014, each of the next four calendar years following December 31, 2014, and thereafter are as follows (in thousands):
	Years Ending December 31,	Total
	2014 (remainder)	$	1,494
	2015	3,041
	2016	3,110
	2017	3,181
	2018	3,254
	Thereafter through 2106	661,331
	Total	$	675,411

Business_Narratives_Details

Business (Narratives) (Details) (USD $)	0 Months Ended	6 Months Ended	36 Months Ended
	Dec. 20, 2013	Jun. 30, 2014	Sep. 15, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'	'	'
Capital interest ownership in operating partnership	'	99.99%	'
Proceeds from issuance, initial public offering	'	'	$586,200,000
Follow-on offering, authorized amount	350,000,000	'	'
Common stock , par on public offering date	$10	'	'
Stock authorized during period for dividend reinvestment plan	300,000,000	'	'
Common stock, par or stated value per share, pursuant to DRIP	$9.50	'	'
Follow on offerings	'	111,300,000	'
Proceeds from DRIP	'	$11,300,000	'

Basis_of_Presentation_Details

Basis of Presentation (Details) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Net Cash (Used in) Provided by Operating Activities	'	'
Net cash used in operating activities	$5,085	($2,701)
Net Cash (Used in) Provided by Investing Activities	'	'
Net cash used in investing activities	-431,152	-322,658
Net Cash Provided by (Used in) Financing Activities	'	'
Net Cash provided by financing activities	369,182	388,075
Non-cash asset management fee	'	'
Net Cash (Used in) Provided by Operating Activities	'	'
Net cash used in operating activities	'	-5,443
Net Cash (Used in) Provided by Investing Activities	'	'
Net cash used in investing activities	'	-319,916
Net Cash Provided by (Used in) Financing Activities	'	'
Net Cash provided by financing activities	'	388,075
Hotel acquisitions deposits and loan commitment	'	'
Net Cash (Used in) Provided by Operating Activities	'	'
Net cash used in operating activities	'	-2,701
Net Cash (Used in) Provided by Investing Activities	'	'
Net cash used in investing activities	'	-322,658
Net Cash Provided by (Used in) Financing Activities	'	'
Net Cash provided by financing activities	'	388,075
As Reported | Non-cash asset management fee	'	'
Net Cash (Used in) Provided by Operating Activities	'	'
Net cash used in operating activities	'	-6,116
Net Cash (Used in) Provided by Investing Activities	'	'
Net cash used in investing activities	'	-319,916
Net Cash Provided by (Used in) Financing Activities	'	'
Net Cash provided by financing activities	'	388,748
As Reported | Hotel acquisitions deposits and loan commitment	'	'
Net Cash (Used in) Provided by Operating Activities	'	'
Net cash used in operating activities	'	-5,443
Net Cash (Used in) Provided by Investing Activities	'	'
Net cash used in investing activities	'	-319,916
Net Cash Provided by (Used in) Financing Activities	'	'
Net Cash provided by financing activities	'	388,075
Adjustments | Non-cash asset management fee	'	'
Net Cash (Used in) Provided by Operating Activities	'	'
Net cash used in operating activities	'	673
Net Cash (Used in) Provided by Investing Activities	'	'
Net cash used in investing activities	'	0
Net Cash Provided by (Used in) Financing Activities	'	'
Net Cash provided by financing activities	'	-673
Adjustments | Hotel acquisitions deposits and loan commitment	'	'
Net Cash (Used in) Provided by Operating Activities	'	'
Net cash used in operating activities	'	2,742
Net Cash (Used in) Provided by Investing Activities	'	'
Net cash used in investing activities	'	-2,742
Net Cash Provided by (Used in) Financing Activities	'	'
Net Cash provided by financing activities	'	$0

Agreements_and_Transactions_wi2

Agreements and Transactions with Related Parties (Narratives) (Details) (USD $)

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

0 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jan. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 25, 2014

Advisor

Advisor

Contract purchase price

Invested asset

Initial Offering

Follow-on Offering

Renaissance Chicago Downtown Hotel

Hampton Inn & Suites/ Homewood Suites Denver Downtown Convention Center

Hampton Inn & Suites/ Homewood Suites Denver Downtown Convention Center

Maximum

WPC

Related Party Transactions [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of fees earned by advisor paid to subadvisor

'

'

20.00%

'

'

'

'

'

'

'

'

'

'

'

'

Selling, General and Administrative Expense

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Selling commission per share sold

$0.70

'

$0.70

'

'

'

'

'

'

'

'

'

'

'

'

Dealer revenue per share sold

$0.30

'

$0.30

'

'

'

'

'

'

'

'

'

'

'

'

Available Cash Distribution

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of available cash distribution

'

'

10.00%

'

'

'

'

'

'

'

'

'

'

'

'

General partners distribution percentage of net proceeds

15.00%

'

15.00%

'

'

'

'

'

'

'

'

'

'

'

'

Accumulated distribution due to the operating partnership

$100,000

'

$1,100,000

'

'

'

'

'

'

'

'

'

'

'

'

Acquisition Fee

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of acquisition fees

'

'

'

'

'

'

'

'

6.00%

2.50%

'

'

'

'

'

Asset Management Fees and Loan Refinancing Fees

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of asset management fee (based on the aggregate average invested value of investments)

'

'

0.50%

'

'

'

'

'

'

'

'

'

'

'

'

Percentage disposition fee

'

'

1.50%

'

'

'

'

'

'

'

'

'

'

'

'

Loan refinancing fee percentage

'

'

1.00%

'

'

'

'

'

'

'

'

'

'

'

'

Asset management fees settled in shares, value

'

'

2,800,000

'

'

'

'

'

'

'

'

'

'

'

'

Common stock, shares outstanding

80,364,082

'

80,364,082

'

67,703,835

'

738,996

738,996

'

'

'

'

'

'

'

Percentage of common stock owned

'

'

'

'

'

'

0.92%

0.92%

'

'

'

'

'

'

'

Organization and Offering Costs

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Organization and offering expense percent payable to the advisors

'

'

'

'

'

'

'

'

'

'

2.00%

4.00%

'

'

'

Organizational and professional fees incurred by the advisor

'

'

'

'

'

'

'

'

'

'

'

2,300,000

'

'

'

Reimbursed organization and offering costs

1,700,000

'

1,700,000

'

'

'

'

'

'

'

'

'

'

'

'

Organization and offering costs due to the advisor

626,000

'

626,000

'

62,000

'

'

'

'

'

'

'

'

'

'

Deferred offering costs charged to equity

'

'

500,000

'

'

'

'

'

'

'

'

'

'

'

'

Excess Operating Expense Due from Advisor

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Transaction fees expensed

10,753,000

4,928,000

10,753,000

8,355,000

'

'

'

'

'

'

'

'

'

'

'

Personnel and Overhead Reimbursement

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Personnel reimbursements

1,273,000

344,000

2,588,000

631,000

'

'

800,000

1,600,000

'

'

'

'

'

'

'

Rent expense

100,000

'

200,000

'

'

'

'

'

'

'

'

'

'

'

'

Asset management fees due in shares, value

'

'

900,000

'

'

'

'

'

'

'

'

'

'

'

'

Other Transactions with Affiliates

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Other amounts due to the advisor

2,725,000

'

2,725,000

'

4,563,000

'

'

'

'

'

'

'

4,100,000

2,100,000

'

Approved line of credit

'

'

'

'

'

50,000,000

'

'

'

'

'

'

'

'

'

Loan payable, related party

$11,000,000

'

$11,000,000

'

$0

'

'

'

'

'

'

'

'

'

$11,000,000

Effective interest rate

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1.25%

Debt instrument, maturity date

'

'

'

'

'

'

'

'

'

'

'

'

'

'

30-Jun-15

Agreements_and_Transactions_wi3

Agreements and Transactions with Related Parties (Details 1) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Amounts Included in Consolidated Statements of Operations:	'	'	'	'
Acquisition fees	$10,753	$4,928	$10,753	$8,355
Asset management fees	1,597	561	2,999	951
Personnel reimbursements	1,273	344	2,588	631
Available Cash Distribution	108	0	1,055	0
Related party fees included in operating expenses	13,731	5,833	17,395	9,937
Other Transaction Fees Incurred:	'	'	'	'
Selling commissions and dealer manager fees	9,073	13,423	10,845	20,305
Offering costs	1,591	2,761	2,317	4,166
Transaction fees incurred	$10,664	$16,184	$13,162	$24,471

Agreements_and_Transactions_wi4

Agreements and Transactions with Related Parties (Details 2) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Amounts Due to Related Parties and Affiliates:	'	'
Organization and offering costs due to the advisor	$626	$62
Reimbursable costs	937	270
Other amounts due to the advisor	2,725	4,563
Due to joint venture partners	330	330
Due to Carey Financial	196	0
Due to affiliates	$4,814	$5,225

Net_Investment_in_Hotels_Narra

Net Investment in Hotels (Narratives) (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
	property		property
Business Acquisition, Cost of Acquired Entity, Purchase Price	'	'	'	'	'
Property acquired	5	'	5	'	'
Net assets acquired at fair value	$415,300,000	'	$415,300,000	'	'
Acquisition costs expensed	'	'	15,400,000	'	'
Acquisition fees paid to advisor	'	'	10,800,000	'	'
Asset retirement obligation	500,000	'	500,000	'	400,000
Real estate under construction	3,749,000	'	3,749,000	'	3,374,000
Capitalized construction cost	$100,000	$100,000	$100,000	$200,000	'

Net_Investment_in_Hotels_Detai

Net Investment in Hotels (Details 1) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Real Estate [Abstract]	'	'
Buildings	$1,042,327	$685,108
Land	168,922	124,450
Furniture, fixtures & equipment	71,062	46,757
Building and site improvements	15,306	11,993
Construction in progress	3,749	3,374
Hotels, at cost	1,301,366	871,682
Less: Accumulated depreciation	-37,460	-18,397
Net investments in hotels	$1,263,906	$853,285

Net_Investment_in_Hotels_Net_I

Net Investment in Hotels Net Investment in Hotels (Details 2) (Consolidated, USD $)

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

In Thousands, unless otherwise specified

Jun. 30, 2014

31-May-12

Jun. 30, 2014

Jun. 08, 2012

Jun. 30, 2014

Jul. 09, 2012

Jun. 30, 2014

Dec. 06, 2012

Jun. 30, 2014

Feb. 14, 2013

Jun. 30, 2014

Feb. 14, 2013

Jun. 30, 2014

Feb. 14, 2013

Jun. 30, 2014

Feb. 14, 2013

Jun. 30, 2014

Feb. 14, 2013

Jun. 30, 2014

Mar. 12, 2013

Jun. 30, 2014

29-May-13

Jun. 30, 2014

Jun. 06, 2013

Jun. 30, 2014

Jul. 10, 2013

Jun. 30, 2014

Aug. 13, 2013

Jun. 30, 2014

Oct. 23, 2013

Jun. 30, 2014

Dec. 20, 2013

Jun. 30, 2014

Apr. 02, 2014

Jun. 30, 2014

28-May-14

Jun. 30, 2014

28-May-14

Jun. 30, 2014

Jun. 12, 2014

Jun. 30, 2014

Jun. 25, 2014

Jun. 30, 2014

property

Hampton Inn Boston Braintree

Hampton Inn Boston Braintree

Hilton Garden Inn New Orleans French Quarter/CBD

Hilton Garden Inn New Orleans French Quarter/CBD

Lake Arrowhead Resort and Spa

Lake Arrowhead Resort and Spa

Courtyard San Diego Mission Valley

Courtyard San Diego Mission Valley

Hampton Inn Atlanta Downtown

Hampton Inn Atlanta Downtown

Hampton Inn Frisco Legacy Park

Hampton Inn Frisco Legacy Park

Hampton Inn & Suites Memphis-Beale Street

Hampton Inn & Suites Memphis-Beale Street

Hampton Inn Birmingham Colonnade

Hampton Inn Birmingham Colonnade

Hilton Garden Inn Baton Rouge Airport

Hilton Garden Inn Baton Rouge Airport

Courtyard Pittsburgh Shadyside

Courtyard Pittsburgh Shadyside

Hutton Hotel Nashville

Hutton Hotel Nashville

Holiday Inn Manhattan 6th Avenue Chelsea

Holiday Inn Manhattan 6th Avenue Chelsea

Fairmont Sonoma Mission Inn and Spa

Fairmont Sonoma Mission Inn and Spa

Marriott Raleigh City Center

Marriott Raleigh City Center

Hawks Cay Resort

Hawks Cay Resort

Renaissance Chicago Downtown Hotel

Renaissance Chicago Downtown Hotel

Hyatt Place Austin Downtown

Hyatt Place Austin Downtown

Courtyard Times Square West

Courtyard Times Square West

Sheraton Austin Hotel at the Capitol

Sheraton Austin Hotel at the Capitol

Boca Raton Marriott at Boca Center

Boca Raton Marriott at Boca Center

Hampton Inn & Suites/ Homewood Suites Denver Downtown Convention Center

Hampton Inn & Suites/ Homewood Suites Denver Downtown Convention Center

property

property

property

property

property

property

property

property

property

property

property

property

property

property

villa

property

property

property

property

property

property

property

Hotel Details

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

State

'

'

'Massachusetts

'

'Louisiana

'

'California

'

'California

'

'Georgia

'

'Texas

'

'Tennessee

'

'Alabama

'

'Louisiana

'

'Pennsylvania

'

'Tennessee

'

'New York

'

'California

'

'North Carolina

'

'Florida

'

'Illinois

'

'Texas

'

'New York

'

'Texas

'

'Florida

'

'Colorado

Rooms

4,782

'

103

'

155

'

173

'

317

'

119

'

105

'

144

'

133

'

131

'

132

'

247

'

226

'

226

'

400

'

177

'

553

'

296

'

224

'

363

'

256

'

302

Ownership interest, consolidated

'

'

100.00%

'

88.00%

'

97.00%

'

100.00%

'

100.00%

'

100.00%

'

100.00%

'

100.00%

'

100.00%

'

100.00%

'

100.00%

'

100.00%

'

75.00%

'

100.00%

'

100.00%

'

100.00%

'

100.00%

'

100.00%

'

80.00%

'

100.00%

'

100.00%

Our investments

$1,281,287

$12,500

'

$16,176

'

$24,039

'

$85,000

'

$18,000

'

$16,100

'

$30,000

'

$15,500

'

$15,000

'

$29,900

'

$73,600

'

$113,000

'

$76,647

'

$82,193

'

$131,301

'

$134,939

'

$86,673

'

$87,443

'

$90,220

'

$61,794

'

$81,262

'

Acquisition Date

'

'

31-May-12

'

8-Jun-12

'

9-Jul-12

'

6-Dec-12

'

14-Feb-13

'

14-Feb-13

'

14-Feb-13

'

14-Feb-13

'

14-Feb-13

'

12-Mar-13

'

29-May-13

'

6-Jun-13

'

10-Jul-13

'

13-Aug-13

'

23-Oct-13

'

20-Dec-13

'

1-Apr-14

'

27-May-14

'

28-May-14

'

12-Jun-14

'

25-Jun-14

Hotel Type

'

'

'Select-service

'

'Select-service

'

'Full-service

'

'Select-service

'

'Select-service

'

'Select-service

'

'Select-service

'

'Select-service

'

'Select-service

'

'Select-service

'

'Full-service

'

'Full-service

'

'Full-service

'

'Full-service

'

'Full-service

'

'Full-service

'

'Select-service

'

'Select-service

'

'Full-service

'

'Full-service

'

'Select-service

Villas

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

250

'

'

'

'

'

'

'

'

'

'

'

'

Net_Investment_in_Hotels_Detai1

Net Investment in Hotels (Details 3) (USD $)	6 Months Ended		0 Months Ended		0 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Apr. 02, 2014	Apr. 01, 2014	28-May-14	28-May-14	Jun. 12, 2014	Jun. 25, 2014
			Hyatt Place Austin Downtown	Hyatt Place Austin Downtown	Courtyard Times Square West	Sheraton Austin Hotel at the Capitol	Boca Raton Marriott at Boca Center	Hampton Inn & Suites/ Homewood Suites Denver Downtown Convention Center
Acquisition consideration	'	'	'	'	'	'	'	'
Cash consideration	$415,278	$311,100	$86,673	'	$87,443	$90,220	$61,794	$81,262
Assets Acquired at fair value	'	'	'	'	'	'	'	'
Land	'	'	'	9,100	0	18,210	11,500	5,663
Building	'	'	'	73,700	87,437	78,703	46,149	71,598
Furniture fixture and improvements	'	'	'	4,187	3,968	1,983	4,237	4,228
Accounts receivable	'	'	'	98	0	92	55	0
Other assets	'	'	'	179	368	373	295	362
Liabilities assumed at fair value	'	'	'	'	'	'	'	'
Accounts payable, accrued expenses and other liabilities	'	'	'	-591	-4,330	-1,255	-442	-589
Contributions from noncontrolling interests at fair value	'	'	'	0	0	-7,886	0	0
Net assets acquired at fair value	$415,300	'	'	$86,673	$87,443	$90,220	$61,794	$81,262

Net_Investment_in_Hotels_Detai2

Net Investment in Hotels (Details 4) (USD $)	3 Months Ended		6 Months Ended		12 Months Ended	3 Months Ended	1 Months Ended			0 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014
						Hyatt Place Austin Downtown	Courtyard Times Square West	Sheraton Austin Hotel at the Capitol	Boca Raton Marriott at Boca Center	Hampton Inn & Suites/ Homewood Suites Denver Downtown Convention Center
Revenue and Earning after acquistion:	'	'	'	'	'	'	'	'	'	'
Revenues	$86,857	$21,015	$146,542	$32,314	'	$4,908	$2,039	$2,251	$602	$287
Net income (loss)	($11,938)	($5,585)	($20,724)	($12,438)	($30,399)	$1,485	$332	$491	$9	$92

Net_Investment_in_Hotels_Detai3

Net Investment in Hotels (Details 5) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Pro Forma Financial Information	'	'	'	'
Pro forma total revenues	$101,192	$44,038	$184,698	$80,456
Pro forma net income (loss)	3,471	537	-2,164	-14,280
(Income) loss from continuing operations attributable to noncontrolling interests	-630	23	-573	254
Pro forma income (loss) from continuing operations attributable to CWI stockholders	$2,841	$560	($2,737)	($14,026)
Pro forma income (loss) per share:	'	'	'	'
Net income (loss) attributable to CWI stockholders	$0.03	$0.01	($0.03)	($0.26)
Pro forma weighted average shares outstanding (in shares)	87,944,509	56,235,720	88,330,314	53,863,736

Equity_Investment_in_Real_Esta2

Equity Investment in Real Estate (Narratives) (Details) (USD $)	6 Months Ended			6 Months Ended	3 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jul. 17, 2013	Jun. 30, 2014	Sep. 30, 2013	Jun. 30, 2014
			Unconsolidated	Unconsolidated	Unconsolidated	Unconsolidated
			Long Beach Venture	Westin Atlanta Venture	Hyatt French Quarter Venture	Hyatt French Quarter Venture
Equity Method Investment, Financial Statement, Reported Amounts	'	'	'	'	'	'
Ownership interest, unconsolidated	'	'	49.00%	57.00%	'	80.00%
Distributions from equity method investments (return of capital)	$298	$0	'	$100	$6,200	$300

Equity_Investment_in_Real_Esta3

Equity Investment in Real Estate Equity Investment in Real Estate (Details 1) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Dec. 31, 2013	Sep. 06, 2011	Jun. 30, 2014	Dec. 31, 2013	Oct. 03, 2012	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified			Unconsolidated	Unconsolidated	Hyatt New Orleans French Quarter	Hyatt New Orleans French Quarter	Hyatt New Orleans French Quarter	Westin Atlanta Venture	Westin Atlanta Venture	Westin Atlanta Venture
			room		Unconsolidated	Unconsolidated	Unconsolidated	Unconsolidated	Unconsolidated	Unconsolidated
						room			room
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'	'	'	'	'	'
State	'	'	'	'	'	'Louisiana	'	'	'Georgia	'
Rooms	'	'	626	'	'	254	'	'	372	'
Ownership interest, unconsolidated	'	'	'	'	'	80.00%	'	'	57.00%	'
Our investments	'	'	$26,170	'	$13,000	'	'	$13,170	'	'
Acquisition Date	'	'	'	'	'	6-Sep-11	'	'	3-Oct-12	'
Hotel Type	'	'	'	'	'	'Full-service	'	'	'Full-service	'
Carrying Value	$14,776	$14,915	$14,776	$14,915	'	$4,830	$4,395	'	$9,946	$10,520

Equity_Investment_in_Real_Esta4

Equity Investment in Real Estate (Details 2) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions	'	'	'	'
Net income from equity investments in real estate	$273	$350	$398	$482
Unconsolidated	'	'	'	'
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions	'	'	'	'
Net income from equity investments in real estate	273	350	398	482
Long Beach Venture | Unconsolidated	'	'	'	'
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions	'	'	'	'
Net income from equity investments in real estate	0	622	0	672
Hyatt French Quarter Venture | Unconsolidated	'	'	'	'
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions	'	'	'	'
Net income from equity investments in real estate	559	219	930	518
Westin Atlanta Venture | Unconsolidated	'	'	'	'
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions	'	'	'	'
Net income from equity investments in real estate	($286)	($491)	($532)	($708)

Intangible_Assets_and_Liabilit2

Intangible Assets and Liabilities (Narratives) (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Finite-Lived Intangible Assets	'	'	'	'
Net amortization of intangibles	$0.30	$0.10	$0.70	$0.10

Intangible_Assets_and_Liabilit3

Intangible Assets and Liabilities Intangible Assets and Liabilities (Details 1) (Above-market hotel ground lease, USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014
Above-market hotel ground lease	'
Amortizable Intangible Liability	'
Finite-lived intangible liability, useful life	'85 years
Acquired finite lived intangible liability	($2,100)

Intangible_Assets_and_Liabilit4

Intangible Assets and Liabilities (Details 2) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Amortizable Intangible Assets	'	'
Gross Carrying Amount	$43,034	$43,034
Accumulated Amortization	-889	-239
Net Carrying Amount	42,145	42,795
Above-market hotel ground lease	'	'
Finite Lived Intangible Liabilities Net	'	'
Finite-lived intangible liability, useful life	'85 years	'
Finite-lived intangible liability, gross	-2,100	0
Finite-lived intangible liability, accumulated depreciation	0	0
Finite-lived intangible liabilities, net	-2,100	0
Villa rental program	'	'
Amortizable Intangible Assets	'	'
Finite-lived intangible asset, useful life	'45 years	'
Gross Carrying Amount	31,700	31,700
Accumulated Amortization	-484	-133
Net Carrying Amount	31,216	31,567
Below-market hotel ground leases	'	'
Amortizable Intangible Assets	'	'
Gross Carrying Amount	9,446	9,446
Accumulated Amortization	-273	-52
Net Carrying Amount	9,173	9,394
Below-market hotel ground leases | Minimum	'	'
Amortizable Intangible Assets	'	'
Finite-lived intangible asset, useful life	'10 years	'
Below-market hotel ground leases | Maximum	'	'
Amortizable Intangible Assets	'	'
Finite-lived intangible asset, useful life	'92 years 6 months	'
Below-market hotel parking garage lease	'	'
Amortizable Intangible Assets	'	'
Finite-lived intangible asset, useful life	'92 years 6 months	'
Gross Carrying Amount	1,490	1,490
Accumulated Amortization	-15	-7
Net Carrying Amount	1,475	1,483
In-place leases	'	'
Amortizable Intangible Assets	'	'
Gross Carrying Amount	398	398
Accumulated Amortization	-117	-47
Net Carrying Amount	$281	$351
In-place leases | Minimum	'	'
Amortizable Intangible Assets	'	'
Finite-lived intangible asset, useful life	'1 year	'
In-place leases | Maximum	'	'
Amortizable Intangible Assets	'	'
Finite-lived intangible asset, useful life	'21 years	'

Intangible_Assets_and_Liabilit5

Intangible Assets and Liabilities (Details 3) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014
Increase to Depreciation and Amortization	'
2014 (remainder)	$396
2015	778
2016	766
2017	730
2018	720
Thereafter	28,105
Total	31,495
Increase to Property taxes, Insurance and Rent	'
2014 (remainder)	228
2015	420
2016	413
2017	407
2018	387
Thereafter	6,695
Total	8,550
Total	'
2014 (remainder)	624
2015	1,198
2016	1,179
2017	1,137
2018	1,107
Thereafter	34,800
Total	$40,045

Fair_Value_Measurements_Narrat

Fair Value Measurements (Narratives) (Details) (Level 3, USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Estimated fair value	'	'
Financial Instruments, Financial Liabilities, Balance Sheet Groupings	'	'
Debt instrument fair value	$837.50	$565.10
Carrying Value	'	'
Financial Instruments, Financial Liabilities, Balance Sheet Groupings	'	'
Debt instrument fair value	$828.70	$563.10

Risk_Management_and_Use_of_Der2

Risk Management and Use of Derivative Financial Instruments (Narratives) (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Derivatives in Cash flow Hedging Relationships Gain Loss Recognized in OCI (Effective Portion)	'	'	'	'	'
Interest rate swap gains (losses) recognized in OCI	($1.50)	$1.20	($2.20)	$1	'
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income	'	'	'	'	'
Interest rate swap losses reclassified from OCI to interest expense	0.4	0.1	0.8	0.2	'
Potential loss on contract termination for default	1.2	'	1.2	'	0.7
Concentration Risk	'	'	'	'	'
Derivatives in net liability position, fair value	1.2	'	1.2	'	0.7
Amounts reported in OCI related to interest rate swaps to be reclassified to interest expense	'	'	1.6	'	'
Noncontrolling Interest	'	'	'	'	'
Concentration Risk	'	'	'	'	'
Amounts reported in OCI related to interest rate swaps to be reclassified to interest expense	'	'	$0.20	'	'
Revenue | Marriott Brand	'	'	'	'	'
Concentration Risk	'	'	'	'	'
Concentration Risk	'	'	36.60%	'	'
Revenue | Independent Brand	'	'	'	'	'
Concentration Risk	'	'	'	'	'
Concentration Risk	'	'	28.90%	'	'
Revenue | Hilton Brand	'	'	'	'	'
Concentration Risk	'	'	'	'	'
Concentration Risk	'	'	13.00%	'	'
Revenue | Fairmont Brand	'	'	'	'	'
Concentration Risk	'	'	'	'	'
Concentration Risk	'	'	11.60%	'	'
Revenue | California	'	'	'	'	'
Concentration Risk	'	'	'	'	'
Concentration Risk	'	'	20.50%	'	'
Revenue | Florida	'	'	'	'	'
Concentration Risk	'	'	'	'	'
Concentration Risk	'	'	21.10%	'	'
Revenue | Illinois	'	'	'	'	'
Concentration Risk	'	'	'	'	'
Concentration Risk	'	'	15.30%	'	'
Revenue | Tennessee	'	'	'	'	'
Concentration Risk	'	'	'	'	'
Concentration Risk	'	'	10.90%	'	'

Risk_Management_and_Use_of_Der3

Risk Management and Use of Derivative Financial Instruments (Details 1) (Designated as hedging, USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Derivatives, Fair Value	'	'
Derivative asset, fair value, net	$378	$664
Derivative liability, fair value, net	-1,080	-605
Interest rate swap | Other assets	'	'
Derivatives, Fair Value	'	'
Derivative asset, fair value, net	295	664
Interest rate swap | Accounts payable, accrued expenses and other liabilities	'	'
Derivatives, Fair Value	'	'
Derivative liability, fair value, net	-1,080	-605
Interest rate cap | Other assets	'	'
Derivatives, Fair Value	'	'
Derivative asset, fair value, net	$83	'

Risk_Management_and_Use_of_Der4

Risk Management and Use of Derivative Financial Instruments (Details 2) (Designated as hedging, USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified
Derivative	'
Fair Value	($702)
Interest rate swaps | Cash flow hedging	'
Derivative	'
Number of Instruments	5
Notional Amount	204,560
Fair Value	-785
Interest rate cap | Cash flow hedging	'
Derivative	'
Number of Instruments	1
Notional Amount	34,000
Fair Value	$83

Debt_Narrative_Details

Debt (Narrative) (Details) (USD $)	6 Months Ended									6 Months Ended
	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014
			Lake Arrowhead Resort and Spa	Lake Arrowhead Resort and Spa	Lake Arrowhead Resort and Spa	Courtyard Pittsburgh Shadyside	Courtyard Pittsburgh Shadyside	Boca Raton Marriott at Boca Center	Boca Raton Marriott at Boca Center	2014 Acquisition
Mortgage debt	'	'	'	'	'	'	'	'	'	'
Mortgage commitment	'	'	'	'	'	$21,000,000	'	$41,000,000	'	'
Discount for debt payoff, settlement price	'	'	'	'	16,000,000	'	'	'	'	'
Debt instrument, face value	'	'	'	'	27,400,000	'	'	'	'	'
Lender participation amount	'	'	'	'	2,000,000	'	'	'	'	'
Non-recourse debt	828,708,000	563,058,000	17,910,000	17,865,000	'	20,750,000	20,750,000	34,000,000	0	266,500,000
Debt, weighted average interest rate	'	'	'	'	'	'	'	'	'	4.20%
Debt instrument, term	'	'	'	'	'	'	'	'	'	'6 years 10 months 24 days
Deferred financing costs, capitalized	'	'	'	'	'	'	'	'	'	$2,100,000
Debt instrument covenant compliance	'Pursuant to our mortgage loan agreements, our wholly-owned subsidiaries are subject to various operational and financial covenants, including minimum debt service coverage ratios. At June 30, 2014, we were in compliance with the applicable covenants for each of our mortgage loans.	'	'	'	'	'	'	'	'	'

Debt_Details_1

Debt (Details 1) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Hotel Details	'	'
Carrying value of mortgage	$828,708	$563,058
Hampton Inn Boston Braintree	'	'
Hotel Details	'	'
Effective Interest Rate	5.00%	'
Rate Type	'Variable	'
Current Maturity Date	31-May-15	'
Carrying value of mortgage	9,600	9,653
Lake Arrowhead Resort and Spa	'	'
Hotel Details	'	'
Effective Interest Rate	4.34%	'
Rate Type	'Fixed	'
Current Maturity Date	1-Jul-15	'
Carrying value of mortgage	17,910	17,865
Hawks Cay Resort	'	'
Hotel Details	'	'
Effective Interest Rate	5.74%	'
Rate Type	'Variable	'
Current Maturity Date	4-Nov-16	'
Carrying value of mortgage	79,000	79,000
Courtyard Pittsburgh Shadyside	'	'
Hotel Details	'	'
Effective Interest Rate	4.09%	'
Rate Type	'Variable	'
Current Maturity Date	12-Mar-17	'
Carrying value of mortgage	20,750	20,750
Courtyard San Diego Mission Valley	'	'
Hotel Details	'	'
Effective Interest Rate	4.60%	'
Rate Type	'Variable	'
Current Maturity Date	6-Dec-17	'
Carrying value of mortgage	50,960	51,230
Hampton Inn & Suites Memphis-Beale Street	'	'
Hotel Details	'	'
Effective Interest Rate	4.07%	'
Rate Type	'Fixed	'
Current Maturity Date	1-Mar-18	'
Carrying value of mortgage	21,853	22,118
Hampton Inn Atlanta Downtown	'	'
Hotel Details	'	'
Effective Interest Rate	4.12%	'
Rate Type	'Fixed	'
Current Maturity Date	1-Mar-18	'
Carrying value of mortgage	13,525	13,600
Hampton Inn Birmingham Colonnade	'	'
Hotel Details	'	'
Effective Interest Rate	4.12%	'
Rate Type	'Fixed	'
Current Maturity Date	1-Mar-18	'
Carrying value of mortgage	9,348	9,400
Hampton Inn Frisco Legacy Park	'	'
Hotel Details	'	'
Effective Interest Rate	4.12%	'
Rate Type	'Fixed	'
Current Maturity Date	1-Mar-18	'
Carrying value of mortgage	9,148	9,200
Hilton Garden Inn Baton Rouge Airport	'	'
Hotel Details	'	'
Effective Interest Rate	4.12%	'
Rate Type	'Fixed	'
Current Maturity Date	1-Mar-18	'
Carrying value of mortgage	9,746	9,800
Fairmont Sonoma Mission Inn and Spa	'	'
Hotel Details	'	'
Effective Interest Rate	4.13%	'
Rate Type	'Variable	'
Current Maturity Date	10-Jul-18	'
Carrying value of mortgage	44,000	44,000
Sheraton Austin Hotel at the Capitol	'	'
Hotel Details	'	'
Effective Interest Rate	3.96%	'
Rate Type	'Fixed	'
Current Maturity Date	1-Jun-19	'
Carrying value of mortgage	67,000	0
Marriot Boca Raton at Boca Center	'	'
Hotel Details	'	'
Effective Interest Rate	3.40%	'
Rate Type	'Variable	'
Current Maturity Date	1-Jul-19	'
Carrying value of mortgage	34,000	0
Hilton Garden Inn New Orleans French Quarter/CBD	'	'
Hotel Details	'	'
Effective Interest Rate	5.30%	'
Rate Type	'Fixed	'
Current Maturity Date	1-Jul-19	'
Carrying value of mortgage	10,868	10,942
Hutton Hotel Nashville	'	'
Hotel Details	'	'
Effective Interest Rate	5.25%	'
Rate Type	'Fixed	'
Current Maturity Date	1-Jul-20	'
Carrying value of mortgage	44,000	44,000
Renaissance Chicago Downtown Hotel	'	'
Hotel Details	'	'
Effective Interest Rate	4.71%	'
Rate Type	'Fixed	'
Current Maturity Date	1-Jan-21	'
Carrying value of mortgage	90,000	90,000
Courtyard Times Square West	'	'
Hotel Details	'	'
Effective Interest Rate	4.62%	'
Rate Type	'Fixed	'
Current Maturity Date	1-Jun-21	'
Carrying value of mortgage	56,000	0
Hampton Inn & Suites/ Homewood Suites Denver Downtown Convention Center	'	'
Hotel Details	'	'
Effective Interest Rate	3.80%	'
Rate Type	'Fixed	'
Current Maturity Date	1-Jul-21	'
Carrying value of mortgage	53,000	0
Holiday Inn Manhattan 6th Avenue Chelsea	'	'
Hotel Details	'	'
Effective Interest Rate	4.49%	'
Rate Type	'Fixed	'
Current Maturity Date	6-Jun-23	'
Carrying value of mortgage	80,000	80,000
Hyatt Place Austin Downtown	'	'
Hotel Details	'	'
Effective Interest Rate	4.88%	'
Rate Type	'Fixed	'
Current Maturity Date	1-Apr-24	'
Carrying value of mortgage	56,500	0
Marriott Raleigh City Center	'	'
Hotel Details	'	'
Effective Interest Rate	4.61%	'
Rate Type	'Fixed	'
Current Maturity Date	1-Sep-38	'
Carrying value of mortgage	$51,500	$51,500

Debt_Details_2

Debt (Details 2) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Long-term Debt, by Maturity	'	'
2014 (remainder)	$1,459	'
2015	31,189	'
2016	85,119	'
2017	76,293	'
2018	159,990	'
Thereafter through 2038	474,748	'
Total Debt	828,798	'
Fair market value adjustment	-90	'
Total	$828,708	$563,058

Commitments_and_Contingencies_1

Commitments and Contingencies (Narratives) (Details) (USD $)

3 Months Ended

6 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2012

Jun. 30, 2015

Dec. 31, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

property

property

property

Subsequent Event

Subsequent Event

2014 Commitments

Annual Percentage Rent

Annual Percentage Rent

Renaissance Chicago Downtown Hotel

Marriott Raleigh City Center

Courtyard Times Square West

Accounts payable, accrued expenses and other liabilities

Accounts payable, accrued expenses and other liabilities

property

property

Funding Commitments

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Properties under renovation

8

8

10

'

'

'

'

'

'

'

'

'

'

'

Properties completed during the period

'

5

'

'

'

'

'

'

'

'

'

'

'

'

Properties expected to be completed

'

'

'

'

3

3

'

'

'

'

'

'

'

'

Contractual liabilities

$51,832,000

$51,832,000

$42,594,000

$47,120,000

'

'

$14,800,000

'

'

'

'

'

$1,200,000

$2,500,000

Unused mortgage loan

'

'

'

'

'

'

7,100,000

'

'

'

'

'

'

'

Lease expiration date

'

'

'

'

'

'

'

'

'

30-Jun-87

22-Jan-06

30-Apr-99

'

'

Annual base rent increase

'

'

'

'

'

'

'

'

'

3.00%

'

'

'

'

Ground lease percentage rent on gross room revenue

'

'

'

'

'

'

'

'

'

2.00%

'

2.00%

'

'

Rent expense

700,000

1,000,000

'

'

'

'

'

200,000

300,000

'

100,000

'

'

'

Minimum rent threshold

'

'

'

'

'

'

'

'

'

'

'

$23,500,000

'

'

Commitments_and_Contingencies_2

Commitments and Contingencies (Details 1) (USD $)	6 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Funding Commitments	'	'
Capital Commitments	$42,594	$47,120
Capital Commitments	'	60,322
Less: Paid	-8,490	-4,526
Unpaid commitment	51,832	42,594
Less: Amount Held in Escrow	-37,463	-34,939
Unfunded Commitment	$14,369	$7,655

Commitments_and_Contingencies_3

Commitments and Contingencies (Details 2) (USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified
Leases, Future Minimum Payments Receivable, Fiscal Year Maturity	'
2014 (remainder)	$1,494
2015	3,041
2016	3,110
2017	3,181
2018	3,254
Thereafter through 2106	661,331
Total	$675,411

Equity_Narrative_Details

Equity (Narrative) (Details) (USD $)

3 Months Ended

6 Months Ended

0 Months Ended

1 Months Ended

6 Months Ended

1 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jul. 15, 2014

Jul. 02, 2014

Apr. 30, 2014

Apr. 30, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Subsequent Event

Subsequent Event

RSU Awards

RSU Awards

RSU Awards

RSU Awards

RSU Awards

RSU Awards

Subadvisors Employees

Subadvisors Employees

Subadvisors Employees

Independent Directors

Independent Directors

2010 Incentive Plan

Share-based Compensation Arrangement by Share-based Payment Award

'

'

'

'

'

'

'

'

'

'

'

'

Shares authorized to issue for grants of restricted stock units and dividend equivalent rights

'

'

'

'

'

'

'

'

'

'

'

4,000,000

Shares remaining for future grants

'

'

'

'

'

'

'

'

'

'

'

3,901,315

Shares granted

'

'

'

'

'

'

35,000

45,000

'

4,500

1,000

'

Vesting period

'

'

'

'

'

'

'3 years

'

'

'

'

'

Weighted average fair value on grant date

'

'

'

'

'

'

'

'

'

'

$10

'

Share based compensation

$200,000

$100,000

$300,000

$100,000

'

'

'

'

'

'

'

'

Remaining weighted average contractual term

'

'

'

'

'

'

'

'

'2 years 3 months 18 days

'

'

'

Nonvested shares

58,586

'

58,586

'

'

'

'

'

'

'

'

'

Stock based compensation to be recognized in future periods

500,000

'

500,000

'

'

'

'

'

'

'

'

'

Daily distribution declared per share

$0.00

'

$0.00

'

'

'

'

'

'

'

'

'

Dividend payable, date

15-Jul-14

'

'

'

'

'

'

'

'

'

'

'

Distributions paid

'

'

18,737,000

4,143,000

10,400,000

'

'

'

'

'

'

'

Proceeds from issuance of shares, net of offering costs

'

'

$108,427,000

$186,105,000

'

$1,900,000

'

'

'

'

'

'

Shares issued, net of offering costs, shares

'

'

'

'

'

207,629

'

'

'

'

'

'