RLJ Lodging Trust (RLJ) 10-Q 8 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	1-May-14
Document and Entity Information	'	'
Entity Registrant Name	'RLJ Lodging Trust	'
Entity Central Index Key	'0001511337	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Large Accelerated Filer	'
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'
Amendment Flag	'false	'
Entity Common Stock, Shares Outstanding	'	122,901,010
Entity Current Reporting Status	'Yes	'

Combined_Consolidated_Balance_

Combined Consolidated Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets	'	'
Investment in hotels and other properties, net	$3,422,662	$3,241,163
Cash and cash equivalents	270,765	332,248
Restricted cash reserves	57,193	62,430
Hotel and other receivables, net of allowance of $172 and $234, respectively	31,758	22,762
Deferred financing costs, net	11,977	11,599
Deferred income tax asset	2,636	2,529
Purchase deposits	7,246	7,246
Prepaid expense and other assets	39,428	37,997
Total assets	3,843,665	3,717,974
Liabilities and Equity	'	'
Mortgage loans	536,470	559,665
Term loans	1,025,000	850,000
Accounts payable and accrued expense	102,518	115,011
Deferred income tax liability	3,467	3,548
Advance deposits and deferred revenue	14,093	9,851
Accrued interest	2,613	2,695
Distributions payable	28,677	30,870
Total liabilities	1,712,838	1,571,640
Commitments and Contingencies (Note 10)	'	'
Shareholders’ equity:	'	'
Preferred shares of beneficial interest, $0.01 par value, 50,000,000 shares authorized; zero shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively.	0	0
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 122,901,341 and 122,640,042 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively.	1,229	1,226
Additional paid-in-capital	2,180,505	2,178,004
Accumulated other comprehensive loss	-7,302	-5,941
Distributions in excess of net earnings	-60,848	-45,522
Total shareholders’ equity	2,113,584	2,127,767
Noncontrolling interest	'	'
Noncontrolling interest in joint venture	6,090	7,306
Noncontrolling interest in Operating Partnership	11,153	11,261
Total noncontrolling interest	17,243	18,567
Total equity	2,130,827	2,146,334
Total liabilities and equity	$3,843,665	$3,717,974

Combined_Consolidated_Balance_1

Combined Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Hotel and other receivables, allowance (in dollars)	$233	$194
Preferred shares of beneficial interest, par value (in dollars per share)	$0.01	$0.01
Preferred shares of beneficial interest, shares authorized	50,000,000	50,000,000
Preferred shares of beneficial interest, shares issued	0	0
Preferred shares of beneficial interest, shares outstanding	0	0
Common shares of beneficial interest, par value (in dollars per share)	$0.01	$0.01
Common shares of beneficial interest, shares authorized	450,000,000	450,000,000
Common shares of beneficial interest, shares issued	122,687,633	106,565,516
Common shares of beneficial interest, shares outstanding	122,687,633	106,565,516

Combined_Consolidated_Statemen

Combined Consolidated Statements of Operations and Comprehensive Income (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Operating revenue	'	'
Room revenue	$206,025	$185,448
Food and beverage revenue	23,367	23,212
Other operating department revenue	6,981	6,210
Total revenue	236,373	214,870
Operating expense	'	'
Room expense	47,521	43,097
Food and beverage expense	16,873	16,557
Management fee expense	9,113	7,381
Other operating expense	72,076	66,366
Total property operating expense	145,583	133,401
Depreciation and amortization	32,876	31,344
Property tax, insurance and other	17,252	14,710
General and administrative	10,129	8,798
Transaction and pursuit costs	1,484	1,089
Total operating expense	207,324	189,342
Operating income	29,049	25,528
Other income	110	79
Interest income	323	296
Interest expense	-14,646	-16,874
Income from continuing operations before income tax expense	14,836	9,029
Income tax expense	-294	-226
Income from continuing operations	14,542	8,803
Loss from discontinued operations	0	-219
Loss on disposal of hotel properties	-2,557	0
Net income	11,985	8,584
Net (income) loss attributable to non-controlling interests	'	'
Noncontrolling interest in consolidated joint venture	34	48
Noncontrolling interest in common units of Operating Partnership	-87	-139
Net income attributable to common shareholders	11,932	8,493
Basic per common share data:	'	'
Net income per share attributable to common shareholders before discontinued operations (in dollars per share)	$0.10	$0.08
Discontinued operations (in dollars per share)	$0	$0
Net income per share attributable to common shareholders (in dollars per share)	$0.10	$0.08
Weighted-average number of common shares (in shares)	121,740,962	106,815,375
Diluted per common share data:	'	'
Net income per share attributable to common shareholders before discontinued operations (in dollars per share)	$0.10	$0.08
Discontinued operations (in dollars per share)	$0	$0
Net income per share attributable to common shareholders (in dollars per share)	$0.10	$0.08
Weighted-average number of common shares (in shares)	122,867,755	107,423,195
Amounts attributable to the Company’s common shareholders:	'	'
Income from continuing operations	14,471	8,710
Loss from discontinued operations	0	-217
Loss on disposal of hotel properties	-2,539	0
Net income attributable to common shareholders	11,932	8,493
Comprehensive income	'	'
Unrealized loss on interest rate derivatives	-1,361	-477
Comprehensive income	10,624	8,107
Comprehensive loss attributable to consolidated joint venture	34	48
Comprehensive income attributable to common units of Operating Partnership	-87	-139
Comprehensive income attributable to the Company	$10,571	$8,016

Combined_Consolidated_Statemen1

Combined Consolidated Statements of Changes in Equity (USD $)	Total	Common Stock	Additional Paid-in-Capital	Distributions in excess of net earnings	Accumulated Other Comprehensive Income	Total Noncontrolling Interests	Operating Partnership	Consolidated Joint Venture
In Thousands, except Share data, unless otherwise specified
Balance at Dec. 31, 2012	$1,807,911	$1,066	$1,841,449	($52,681)	$0	$18,077	$11,311	$6,766
Balance (in shares) at Dec. 31, 2012	'	106,565,516	'	'	'	'	'	'
Increase (Decrease) in Owners' Equity	'	'	'	'	'	'	'	'
Net income (loss)	8,584	'	'	8,493	'	91	139	-48
Unrealized loss on interest rate derivative	-477	'	'	'	'	'	'	'
Issuance of restricted stock	'	3	-3	'	'	'	'	'
Issuance of restricted stock (in shares)	'	330,640	'	'	'	'	'	'
Amortization of share based compensation	3,014	'	3,014	'	'	'	'	'
Share grants to trustees	40	'	40	'	'	'	'	'
Share grants to trustees (in shares)	'	1,756	'	'	'	'	'	'
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock	-728	'	-727	'	'	'	'	'
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock (in shares)	'	-34,339	'	'	'	'	'	'
Distributions on common shares and units	-25,548	'	'	-25,364	'	-184	-184	'
Balance at Mar. 31, 2013	'	'	'	'	'	'	'	'
Balance at Dec. 31, 2013	2,146,334	1,226	2,178,004	-45,522	'	18,567	11,261	7,306
Balance (in shares) at Dec. 31, 2013	'	122,640,042	'	'	'	'	'	'
Increase (Decrease) in Owners' Equity	'	'	'	'	'	'	'	'
Net income (loss)	11,985	'	'	11,932	'	53	87	-34
Unrealized loss on interest rate derivative	-1,361	'	'	'	-1,361	'	'	'
Distributions to JV partner	-1,182	'	'	'	'	-1,182	'	-1,182
Issuance of restricted stock	'	3	-3	'	'	'	'	'
Issuance of restricted stock (in shares)	'	305,053	'	'	'	'	'	'
Amortization of share based compensation	3,573	'	3,573	'	'	'	'	'
Share grants to trustees	28	'	28	'	'	'	'	'
Share grants to trustees (in shares)	'	1,051	'	'	'	'	'	'
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock	-1,097	0	-1,097	'	'	'	'	'
Shares acquired to satisfy minimum required federal and state tax withholding on vesting restricted stock (in shares)	'	-42,900	'	'	'	'	'	'
Forfeiture of restricted stock (in shares)	'	-1,905	'	'	'	'	'	'
Distributions on common shares and units	-27,453	'	'	-27,258	'	-195	-195	'
Balance at Mar. 31, 2014	$2,130,827	$1,229	$2,180,505	($60,848)	($7,302)	$17,243	$11,153	$6,090
Balance (in shares) at Mar. 31, 2014	'	122,901,341	'	'	'	'	'	'

Combined_Consolidated_Statemen2

Combined Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities:	'	'
Net income	$11,985	$8,584
Adjustments to reconcile net income to cash flow provided by operating activities:	'	'
Loss on defeasance	804	0
Loss on disposal of hotel properties	2,557	0
Depreciation and amortization	32,876	31,435
Amortization of deferred financing costs	1,187	789
Amortization of deferred management fees	244	250
Accretion of interest income on investment in loans	-52	0
Share grants to trustees	28	40
Amortization of share based compensation	3,573	3,014
Deferred income taxes	-188	-98
Changes in assets and liabilities:	'	'
Hotel and other receivables, net	-8,623	-5,475
Prepaid expense and other assets	-1,039	5,226
Accounts payable and accrued expense	-15,547	-14,233
Advance deposits and deferred revenue	3,837	4,374
Accrued interest	-82	119
Net cash flow provided by operating activities	31,560	34,025
Cash flows from investing activities:	'	'
Acquisition of hotel and other properties, net	-311,973	-79,521
Proceeds from the disposal of hotel properties, net	111,081	0
Purchase deposits	0	1,974
Proceeds from principal payments on investment in loans	0	40
Improvements and additions to hotel and other properties	-14,898	-11,423
Additions to property and equipment	-1	-46
Releases from restricted cash reserves, net	5,237	779
Net cash flow used in investing activities	-210,554	-88,197
Cash flows from financing activities:	'	'
Borrowings under revolving credit facility	170,000	83,000
Repayments under revolving credit facility	-170,000	-99,000
Borrowings on term loans	175,000	0
Payment of mortgage principal	-23,999	-3,578
Repurchase of common shares	-1,097	-728
Distributions on common shares	-29,433	-21,839
Distributions on Operating Partnership units	-213	-184
Payment of deferred financing costs	-1,565	-76
Distribution to noncontrolling interest	-1,182	'
Proceeds from issuance of common shares	0	327,743
Net cash flow provided by financing activities	117,511	285,338
Net change in cash and cash equivalents	-61,483	231,166
Cash and cash equivalents, beginning of period	332,248	115,861
Cash and cash equivalents, end of period	$270,765	'

Organization

Organization	3 Months Ended
	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Organization	'
	Organization
	RLJ Lodging Trust (the "Company") was formed as a Maryland real estate investment trust ("REIT") on January 31, 2011. The Company is a self-advised and self-administered REIT that acquires primarily premium-branded, focused-service and compact full-service hotels. The Company qualified and elected to be taxed as a REIT for U.S. federal income tax purposes, commencing with the portion of its taxable year ended December 31, 2011.
	Substantially all of the Company’s assets are held by, and all of its operations are conducted through, RLJ Lodging Trust, L.P. (the "Operating Partnership"). The Company is the sole general partner of the Operating Partnership. As of March 31, 2014, there were 123,795,341 units of limited partnership interest in the Operating Partnership ("OP units") outstanding and the Company owned, through a combination of direct and indirect interests, 99.3% of the outstanding OP units.
	As of March 31, 2014, the Company owned 146 properties, comprised of 144 hotels with approximately 22,400 rooms and two planned hotel conversions, located in 21 states and the District of Columbia, and an interest in one mortgage loan secured by a hotel.  The Company owned, through wholly-owned subsidiaries, 100% of the interests in all properties, with the exception of the DoubleTree Metropolitan Hotel New York City, in which the Company, through wholly-owned subsidiaries, owned a 98.1% controlling interest in a joint venture, DBT Met Hotel Venture, LP, which was formed to engage in hotel operations related to the DoubleTree Metropolitan hotel. An independent operator manages each property.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	Summary of Significant Accounting Policies
	Basis of Presentation and Principles of Consolidation
	The unaudited consolidated financial statements and related notes have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America ("GAAP") and in conformity with the rules and regulations of the Securities and Exchange Commission ("SEC") applicable to financial information. As such, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted in accordance with the rules and regulations of the SEC.  The unaudited financial statements include adjustments based on management’s estimates (consisting of normal recurring adjustments), which the Company considers necessary for the fair statement of the consolidated balance sheets, statements of operations and comprehensive income, statements of changes in equity and statements of cash flows for the periods presented. The unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto as of and for the year ended December 31, 2013, included in the Company's Annual Report on Form 10-K filed with the SEC on February 27, 2014.  Operating results for the three months ended March 31, 2014 are not necessarily indicative of actual operating results for the entire year.
	The unaudited consolidated financial statements include the accounts of the Company, the Operating Partnership and its wholly-owned subsidiaries, including a consolidated joint venture.  All significant intercompany balances have been eliminated in consolidation.
	Reclassifications
	Certain prior year amounts in these financial statements have been reclassified to conform to the current year presentation with no impact to net income, shareholders’ equity or cash flows.
	Use of Estimates
	The preparation of the Company’s financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of certain assets and liabilities and the amounts of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
	Revenue Recognition
	The Company’s revenue comprises hotel operating revenue, such as room revenue, food and beverage revenue and revenue from other hotel operating departments (such as telephone, parking and business centers). These revenues are recorded net of any sales and occupancy taxes collected from guests. All rebates or discounts are recorded as a reduction in revenue, and there are no material contingent obligations with respect to rebates and discounts offered by the hotels. All revenues are recorded on an accrual basis as earned. Appropriate allowances are made for doubtful accounts and are recorded as bad debt expenses. The allowances are calculated as a percentage of aged accounts receivable.  Cash received prior to guest arrival is recorded as an advance from the guest and recognized as revenue at the time of occupancy.
	Incentive payments received pursuant to entry into management agreements are deferred and amortized into income over the life of the respective agreements.  In May 2012, the Company received an incentive payment of $4.0 million related to purchasing a hotel and entering into a franchise agreement, which is being recognized over the remaining term of the franchise agreement.  As of March 31, 2014, there was approximately $3.8 million remaining to be recognized.
	Investment in Hotels and Other Properties
	The Company’s acquisitions generally consist of land, land improvements, buildings, building improvements, furniture, fixtures and equipment ("FF&E"), and inventory. The Company may also acquire intangibles related to in-place leases, management agreements and franchise agreements when properties are acquired.  The Company allocates the purchase price among the assets acquired and liabilities assumed based on their respective fair values. Transaction costs are expensed for acquisitions that are considered business combinations and capitalized for asset acquisitions.
	The Company’s investments in hotels and other properties are carried at cost and are depreciated using the straight-line method over estimated useful lives of 15 years for land improvements, 15 years for building improvements, 40 years for buildings and three to five years for FF&E. Intangibles arising from acquisitions are amortized using the straight-line method over the non-cancelable portion of the term of the agreement.  Maintenance and repairs are expensed and major renewals or improvements are capitalized. Upon the sale or disposal of a property, the asset and related accumulated depreciation are removed from the accounts and the related gain or loss is recognized.
	The Company considers each individual property to be an identifiable component of its business.  In accordance with the guidance on impairment or disposal of long-lived assets, the Company does not consider a property as "held for sale" until it is probable that the sale will be completed within one year and the other requisite criteria for such classification have been met.  The Company does not depreciate properties so long as they are classified as held for sale.  Upon designation of a property as being held for sale and quarterly thereafter, the Company reviews the realizability of the carrying value, less cost to sell, in accordance with the guidance.  Any such adjustment in the carrying value of a property classified as held for sale is reflected as an impairment charge.
	The Company assesses the carrying values of each property whenever events or changes in circumstances indicate that the carrying amounts of these properties may not be fully recoverable.  Recoverability of the property is measured by comparison of the carrying amount of the property to the estimated future undiscounted cash flows which take into account current market conditions and the Company’s intent with respect to holding or disposing of the property.  If the Company’s analysis indicates that the carrying value of the property is not recoverable on an undiscounted cash flow basis, it recognizes an impairment charge for the amount by which the carrying value exceeds the fair value of the property. Fair value is determined through various valuation techniques, including internally developed discounted cash flow models, comparable market transactions and third party appraisals, where considered necessary.
	The use of projected future cash flows is based on assumptions that are consistent with a market participant’s future expectations for the travel industry and economy in general and the Company’s expected use of the underlying properties.  The assumptions and estimates about future cash flows and capitalization rates are complex and subjective.  Changes in economic and operating conditions that occur subsequent to a current impairment analysis and the Company’s ultimate use of the property could impact these assumptions and result in future impairment charges with respect to the properties.
	Noncontrolling Interest
	The consolidated financial statements include all subsidiaries controlled by the Company. For controlled subsidiaries that are not wholly-owned, the noncontrolling interests in these subsidiaries are presented separately in the consolidated financial statements. As of March 31, 2014 the Company consolidated DBT Met Hotel Venture, LP, a majority-owned partnership that has a third-party, noncontrolling 1.9% ownership interest. The third-party partnership interest is included in noncontrolling interest in joint venture on the consolidated balance sheet. Profits and losses are allocated in proportion to each party's respective ownership interest.
	Franchise Agreements
	As of March 31, 2014, 128 of the Company’s hotel properties were operated under franchise agreements with initial terms ranging from 10 to 30 years. The franchise agreements for these hotels allow the properties to operate under the respective brands. Pursuant to the franchise agreements, the Company pays a royalty fee, generally between 3.0% and 6.0% of room revenue, plus additional fees for marketing, central reservation systems and other franchisor costs that amount to between 1.0% and 4.3% of room revenue. Certain full service hotels are also charged a royalty fee of between 1.5% and 3.0% of food and beverage revenues.  Franchise fees are included in other hotel operating expenses in the consolidated financial statements.
	Earnings Per Share
	Basic earnings per common share is calculated by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding during the period excluding the weighted-average number of unvested restricted shares outstanding during the period.  Diluted earnings per common share is calculated by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding during the period, plus any shares that could potentially be outstanding during the period.  Potential shares consist of unvested restricted share grants and unvested performance units, calculated using the treasury stock method.  Any anti-dilutive shares have been excluded from the diluted earnings per share calculation.
	Share-based Compensation
	From time to time, the Company may issue share-based awards under the 2011 Equity Incentive Plan (the "2011 Plan"), as compensation to officers, employees and non-employee trustees (see Note 11). The vesting of awards issued to officers and employees is based on either continued employment (time-based) or based on the relative total shareholder returns of the Company (performance-based) and continued employment, as determined by the board of trustees at the date of grant. The Company recognizes, for time-based awards, compensation expense for non-vested shares on a straight-line basis over the vesting period based upon the fair market value of the shares on the date of grant, adjusted for forfeitures.  The Company recognizes, for performance-based awards, compensation expense over the requisite service period for each award, based on the fair market value of the shares on the date of grant, as determined using a Monte Carlo simulation, adjusted for forfeitures.
	Recently Issued Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board issued Accounting Standards Update 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, which significantly changed the requirements for reporting discontinued operations. Under the new guidance, only disposals representing a strategic shift that has (or will have) a major effect on operations and final results should be presented as discontinued operations. The guidance also provides additional disclosure requirements in connection with both discontinued operations and other dispositions not qualifying as discontinued operations. The guidance applies to all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. The Company adopted the new guidance for the quarterly period ended March 31, 2014. Prior to January 1, 2014, properties disposed of were presented in discontinued operations for all periods presented.

Acquisition_of_Hotel_and_Other

Acquisition of Hotel and Other Properties	3 Months Ended
	Mar. 31, 2014
Business Combinations [Abstract]	'
Acquisition of Hotel and Other Properties	'
	Acquisition of Hotel and Other Properties
	During the three months ended March 31, 2014, the Company acquired a 100% interest in the following properties:
	Property		Location		Acquisition Date		Management Company		Rooms	Purchase Price (in thousands)
	Hyatt House Charlotte Center City		Charlotte, NC		March 12, 2014		Select Hotels Group, LLC		163	$	32,496
	Hyatt House Cypress Anaheim		Cypress, CA		March 12, 2014		Select Hotels Group, LLC		142	14,753
	Hyatt House Emeryville SF Bay Area		Emeryville, CA		March 12, 2014		Select Hotels Group, LLC		234	39,274
	Hyatt House San Diego Sorrento Mesa		San Diego, CA		March 12, 2014		Select Hotels Group, LLC		193	35,985
	Hyatt House San Jose Silicon Valley		San Jose, CA		March 12, 2014		Select Hotels Group, LLC		164	44,159
	Hyatt House San Ramon		San Ramon, CA		March 12, 2014		Select Hotels Group, LLC		142	20,833
	Hyatt House Santa Clara		Santa Clara, CA		March 12, 2014		Select Hotels Group, LLC		150	40,570
	Hyatt Market Street The Woodlands		The Woodlands, TX		March 12, 2014		Hyatt Corporation		70	25,817
	Hyatt Place Fremont Silicon Valley		Fremont, CA		March 12, 2014		Select Hotels Group, LLC		151	23,525
	Hyatt Place Madison Downtown		Madison, WI		March 12, 2014		Select Hotels Group, LLC		151	35,088
									1,560	$	312,500
	During the three months ended March 31, 2013, the Company acquired a 100% interest in the following properties:
	Property		Location		Acquisition Date		Management Company		Rooms	Purchase Price (in thousands)
	Courtyard Houston Downtown Convention Center		Houston, TX		March 19, 2013		White Lodging Services		191	$	34,308
	Residence Inn Houston Downtown Convention Center		Houston, TX		March 19, 2013		White Lodging Services		171	29,421
	Humble Tower Apartments (1)		Houston, TX		March 19, 2013		n/a		82	15,547
									444	$	79,276
	-1	Conversion to a SpringHill Suites is in progress.
	The allocation of purchase price for the properties acquired was as follows (in thousands):
		For the three months ended March 31,
		2014				2013
	Land and land improvements	$	64,303			$	12,855
	Buildings and improvements	213,110				66,622
	Furniture, fixtures and equipment	35,087				3,152
	Lease intangibles	—				342
	Management agreement intangibles	—				(3,695		)
	Total purchase price	$	312,500			$	79,276
	For the properties acquired during the three months ended March 31, 2014 and 2013, respectively, total revenues and net income (loss) from the date of acquisition through March 31, 2014 and 2013, respectively, are included in the consolidated statements of operations as follows (in thousands):
		2014 acquisitions
		For the three months ended March 31, 2014
	Revenue	$	4,531
	Net loss	$	(453	)
		2013 acquisitions
		For the three months ended March 31, 2013
	Revenue	$	693
	Net loss	$	(887	)
	The following unaudited condensed pro forma financial information presents the results of operations as if the 2014 acquisitions had taken place on January 1, 2013 and the 2013 acquisitions had taken place on January 1, 2012.  The unaudited condensed pro forma financial information is not necessarily indicative of what actual results of operations of the Company would have been assuming the 2014 and 2013 acquisitions had taken place on January 1, 2013 and 2012, respectively, nor does it purport to represent the results of operations for future periods.  The unaudited condensed pro forma financial information is as follows (in thousands, except share and per share data):
		For the three months ended March 31,
		2014				2013
	Revenue	$	250,396			$	244,234
	Net income attributable to common shareholders	$	15,833			$	15,379
	Net income per share attributable to common shareholders - basic	$	0.13			$	0.14
	Net income per share attributable to common shareholders - diluted	$	0.13			$	0.14
	Weighted-average number of shares outstanding - basic	121,740,962				106,815,375
	Weighted-average number of shares outstanding - diluted	122,867,755				107,423,195
	The allocation of purchase price for the properties acquired was as follows (in thousands):
		For the three months ended March 31,
		2014				2013
	Land and land improvements	$	64,303			$	12,855
	Buildings and improvements	213,110				66,622
	Furniture, fixtures and equipment	35,087				3,152
	Lease intangibles	—				342
	Management agreement intangibles	—				(3,695		)
	Total purchase price	$	312,500			$	79,276

Discontinued_Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]	'
Discontinued Operations	'
	Disposal of Hotel Properties
	During the three months ended March 31, 2014, the Company disposed of 13 hotel properties in three separate transactions for a total sale price of approximately $114.5 million. In conjunction with these transactions, the Company recorded a $2.6 million loss on disposal, which is included in the consolidated statement of operations. Additionally, the Company completed a legal defeasance of the mortgage indebtedness secured by three of the properties that were sold. The cost of the defeasance was approximately $0.8 million, which is included in interest expense in the consolidated statement of operations.
	The following table provides a list of properties that were disposed of during three months ended March 31, 2014:
	Property Name		Location		Disposal Date	Rooms
	Courtyard Denver Southwest Lakewood		Lakewood, CO		February 20, 2014	90
	Residence Inn Denver Southwest Lakewood		Lakewood, CO		February 20, 2014	102
	Hyatt House Colorado Springs		Colorado Springs, CO		February 20, 2014	125
	SpringHill Suites Gainesville		Gainesville, FL		February 20, 2014	126
	Residence Inn Indianapolis Airport		Indianapolis, IN		February 20, 2014	95
	Fairfield Inn & Suites Indianapolis Airport		Indianapolis, IN		February 20, 2014	86
	Courtyard Grand Rapids Airport		Kentwood, MI		February 20, 2014	84
	Hampton Inn Suites Las Vegas Red Rock Summerlin		Las Vegas, NV		February 20, 2014	106
	Courtyard Austin University Area		Austin, TX		February 20, 2014	198
	Fairfield Inn & Suites Austin University Area		Austin, TX		February 20, 2014	63
	Hyatt House Dallas Richardson		Richardson, TX		February 20, 2014	130
	Hilton Garden Inn St George		St. George, UT		February 25, 2014	150
	Hilton Mystic		Mystic, CT		March 26, 2014	182
					Total	1,537
	During 2013, the Company disposed of three properties in three separate transactions. The operating results for the three months ended March 31, 2013 for these properties is included in discontinued operations in the statement of operations.
	The following table provides a list of properties that were disposed of during 2013:
	Property Name		Location		Disposal Date	Rooms
	SpringHill Suites Southfield		Southfield, MI		May 30, 2013	84
	Courtyard Goshen		Goshen, IN		August 28, 2013	91
	Fairfield Inn & Suites Memphis		Memphis, TN		November 18, 2013	63
					Total	238
	Operating results of discontinued operations were as follows (in thousands):
		For the three months ended March 31, 2013
	Operating revenue	$	1,017
	Operating expense	(1,076		)
	Operating loss	(59		)
	Interest expense	(160		)
	Net loss from discontinued operations	$	(219	)

Investment_in_Hotel_and_Other_

Investment in Hotel and Other Properties	3 Months Ended
	Mar. 31, 2014
Property, Plant and Equipment [Abstract]	'
Investment in Hotel and Other Properties	'
	Investment in Hotels and Other Properties
	Investment in hotels and other properties as of March 31, 2014 and December 31, 2013 consisted of the following (in thousands):
		March 31, 2014			December 31, 2013
	Land and land improvements	$	635,290		$	594,402
	Buildings and improvements	2,986,369			2,866,849
	Furniture, fixtures and equipment	487,443			485,531
	Intangibles	2,507			2,507
		4,111,609			3,949,289
	Accumulated depreciation and amortization	(688,947		)	(708,126		)
	Investment in hotels and other properties, net	$	3,422,662		$	3,241,163
	For the three months ended March 31, 2014 and 2013, depreciation and amortization expense related to investment in hotels and other properties was approximately $32.8 million and $31.2 million (excluding discontinued operations in 2013), respectively.
	Impairment
	The Company determined that there was no impairment of any assets for either the three months ended March 31, 2014 or 2013.

Debt

Debt	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Debt	'
	Debt
	Credit Facilities
	The Company entered into a credit agreement on November 20, 2012 that provided for i) an unsecured revolving credit facility of up to $300.0 million with a scheduled maturity date of November 20, 2016 with a one-year extension option (the "Revolver"), and ii) an unsecured term loan of $275.0 million with a scheduled maturity date of November 20, 2017 (the "2012 Five-Year Term Loan").   In addition, on November 20, 2012 the Company also entered into an unsecured term loan of $125.0 million with a scheduled maturity date of November 20, 2019 (the "Seven-Year Term Loan"). On August 27, 2013, the Company amended the Seven-Year Term Loan to increase the borrowings on the Seven-Year Term Loan to $225.0 million.
	The Company also entered into an unsecured $350.0 million term loan on August 27, 2013 with a scheduled maturity date of August 27, 2018 (the "2013 Five-Year Term Loan", and collectively with the 2012 Five-Year Term Loan and the Seven-Year Term Loan, the "Term Loans").
	On March 20, 2014, the Company amended the credit agreement to, among other things, i) extend the maturity date of the 2012 Five-Year Term Loan from November 20, 2017 to March 20, 2019, ii) expand the accordion feature of the 2012 Five-Year Term Loan and iii) reduce the applicable margin of the 2012 Five-Year Term Loan by 0.15%. Additionally, the Company exercised the accordion feature of the 2012 Five-Year Term Loan and increased the borrowings to $400.0 million. On March 20, 2014, the Company also exercised the accordion feature of the 2013 Five-Year Term Loan and increased the borrowings to $400.0 million.
	The Revolver and Term Loans are subject to customary financial covenants.  As of March 31, 2014, the Company was in compliance with all financial covenants.
	As of and for the three months ended March 31, 2014 and 2013, details of the Revolver and Term Loans are as follows (in thousands):
									Interest expense for the
		Outstanding borrowings at March 31, 2014			Maturity Date		Interest Rate at March 31, 2014 (1)		three months ended March 31, 2014			three months ended March 31, 2013
	Revolver (2)	$	—		Nov-16		n/a		$	323		$	356
	2012 Five-Year Term Loan	400,000			Mar-19		1.70%		1,423			1,415
	Seven-Year Term Loan (3)	225,000			Nov-19		4.04%		2,255			769
	2013 Five-Year Term Loan (4)	400,000			Aug-18		3.07%		2,851			—
	Total	$	1,025,000						$	6,852		$	2,540
	-1	Interest rate at March 31, 2014 gives effect to interest rate hedges and LIBOR floors, as applicable.
	-2	Includes the unused facility fee of $0.2 million and $0.2 million for the three months ended March 31, 2014 and 2013, respectively.
	-3	Includes interest expense related to an interest rate hedge of $1.0 million for the three months ended March 31, 2014.
	-4	Includes interest expense related to an interest rate hedge of $1.2 million for the three months ended March 31, 2014.
	Mortgage Loans
	As of March 31, 2014 and December 31, 2013, the Company was subject to the following mortgage loans (in thousands):
											Principal balance at,
	Lender		Number of Assets Encumbered	Interest Rate at March 31, 2014 (1)				Maturity Date			31-Mar-14			December 31, 2013
	Wells Fargo		1	3.75%		-2		Oct-14		-3	$	68,500		$	68,500
	Wells Fargo		1	3.75%		-2		Oct-14		-3	17,500			17,500
	Wells Fargo		1	3.75%		-2		Oct-14		-3	21,000			21,000
	Wells Fargo		1	3.75%		-2		Oct-14		-3	11,000			11,000
	Wells Fargo		1	3.75%		-2		Oct-14		-3	24,000			24,000
	Capmark Financial Group		1	5.55%				May-15			10,816			10,916
	Capmark Financial Group		1	5.55%				Jun-15			4,692			4,736
	Barclay's Bank		1	5.55%				Jun-15			9,383			9,470
	Barclay's Bank		1	5.55%				Jun-15			8,374			8,452
	Barclay's Bank		1	5.55%				Jun-15			7,509			7,578
	Barclay's Bank		1	5.55%				Jun-15			4,917			4,962
	Barclay's Bank		1	5.55%				Jun-15			32,600			32,901
	Barclay's Bank		1	5.55%				Jun-15			5,517			5,568
	Barclay's Bank		1	5.55%				Jun-15			6,340			6,399
	Barclay's Bank		1	5.55%				Jun-15			6,336			6,394
	Barclay's Bank		1	5.55%				Jun-15			6,974			7,038
	Barclay's Bank		1	5.55%				Jun-15			6,340			6,399
	Barclay's Bank		1	5.55%				Jun-15			7,238			7,305
	Barclay's Bank		1	5.55%				Jun-15			9,083			9,166
	Barclay's Bank		1	5.60%				Jun-15			5,192			5,255
	Barclay's Bank		1	5.60%				Jun-15			8,067			8,142
	Barclay's Bank		1	5.60%				Jun-15			6,194			6,251
	Barclay's Bank		1	5.60%				Jun-15			8,081			8,156
	Capmark Financial Group		1	5.50%				Jul-15			6,391			6,450
	Barclay's Bank		1	5.44%				Sep-15			10,426			10,521
	PNC Bank (4)		5	2.50%		-2		May-16		-5	74,000			85,000
	Wells Fargo (6)		2	4.19%		-2		Sep-16		-7	82,000			82,000
	Wells Fargo		1	4.19%		-2		Sep-16		-7	33,000			33,000
	Wells Fargo		1	4.19%		-2		Sep-16		-7	35,000			35,000
	Barclay's Bank			5.55%				Jun-15			—			2,475
	Barclay's Bank			5.55%				Jun-15			—			4,063
	Capmark Financial Group			6.12%				Apr-15			—			4,068
			34								$	536,470		$	559,665
	-1	Interest rate at March 31, 2014 gives effect to interest rate hedges and LIBOR floors, as applicable.
	-2	Requires payments of interest only until the commencement of the extension period(s).
	-3	Maturity date may be extended for up to two additional one-year terms at the Company’s option, subject to certain lender requirements.
	-4	The five hotels encumbered by the PNC Bank loan are cross-collateralized.
	-5	Maturity date may be extended for one one-year term at the Company’s option, subject to certain lender requirements.
	-6	The two hotels encumbered by the Wells Fargo loan are cross-collateralized.
	-7	Maturity date may be extended for four one-year terms at the Company’s option, subject to certain lender requirements.
	Some mortgage agreements are subject to customary financial covenants.  The Company was in compliance with these
covenants at March 31, 2014 and December 31, 2013.

Derivatives_and_Hedging

Derivatives and Hedging	3 Months Ended
	Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Derivatives and Hedging	'
	Derivatives and Hedging
	The Company employs derivative instruments to hedge against interest rate fluctuations. For derivative instruments designated as cash flow hedges, unrealized gains and losses on the effective portion are reported in accumulated other comprehensive income (loss), a component of shareholders’ equity.  Unrealized gains and losses on the ineffective portion of all designated hedges are recognized in earnings in the current period.  For derivative instruments not designated as hedging instruments, unrealized gains or losses are recognized in earnings in the current period. At March 31, 2014, all derivative instruments are designated as cash flow hedges.
	At March 31, 2014 and December 31, 2013, the fair value of interest rate swap assets of $2.6 million and $3.2 million, respectively, was included in prepaid expense and other assets in the consolidated balance sheets.  At March 31, 2014 and December 31, 2013, the aggregate fair value of interest rate swap liabilities of $9.9 million and $9.1 million, respectively, was included in accounts payable and accrued expenses in the consolidated balance sheets.
	As of March 31, 2014 and December 31, 2013, the Company had entered into the following derivative instruments (in thousands):
		Notional value at						Fair value at
	Hedge type	31-Mar-14		December 31, 2013		Hedge interest rate	Maturity	31-Mar-14			December 31, 2013
	Swap-cash flow	$	275,000	$	275,000	1.12%	11/20/17	$	2,606		$	3,161
	Swap-cash flow	175,000		175,000		1.56%	3/6/18	(1,858		)	(1,866		)
	Swap-cash flow	175,000		175,000		1.64%	3/6/18	(2,367		)	(2,406		)
	Swap-cash flow	16,500		16,500		1.83%	9/15/18	(257		)	(238		)
	Swap-cash flow	16,500		16,500		1.75%	9/15/18	(202		)	(181		)
	Swap-cash flow	40,500		40,500		1.83%	9/15/18	(630		)	(585		)
	Swap-cash flow	41,500		41,500		1.75%	9/15/18	(509		)	(456		)
	Swap-cash flow	18,000		18,000		1.83%	9/15/18	(280		)	(260		)
	Swap-cash flow	17,000		17,000		1.75%	9/15/18	(209		)	(187		)
	Swap-cash flow	125,000		125,000		2.02%	3/6/19	(2,202		)	(1,838		)
	Swap-cash flow	100,000		100,000		1.94%	3/6/19	(1,394		)	(1,085		)
		$	1,000,000	$	1,000,000			$	(7,302	)	$	(5,941	)
	As of March 31, 2014 and December 31, 2013, there was approximately $7.3 million and $5.9 million, respectively, in unrealized losses included in accumulated other comprehensive loss related to interest rate hedges that are effective in offsetting the variable cash flows.  There was no ineffectiveness recorded on designated hedges during the three month periods ended March 31, 2014 and 2013. For the three months ended March 31, 2014 and 2013, approximately $2.9 million and zero, respectively, of amounts included in accumulated other comprehensive loss were reclassified into interest expense.

Fair_Value

Fair Value	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Fair Value	'
	Fair Value
	Fair Value Measurement
	Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal or most advantageous market.  The fair value hierarchy has three levels of inputs, both observable and unobservable:
	•	Level 1— Inputs include quoted market prices in an active market for identical assets or liabilities.
	•	Level 2 — Inputs are market data, other than Level 1, that are observable either directly or indirectly.  Level 2 inputs include quoted market prices for similar assets or liabilities, quoted market prices in an inactive market, and other observable information that can be corroborated by market data.
	•	Level 3 — Inputs are unobservable and corroborated by little or no market data.
	Fair Value of Financial Instruments
	The estimated fair values of financial instruments have been determined by the Company using available market information and appropriate valuation methods.  Considerable judgment is required in interpreting market data to develop the estimates of fair value.  Accordingly, the estimates presented herein are not necessarily indicative of the amounts that the Company could realize in a current market exchange.  The use of different market assumptions and/or estimation methods may have a material effect on the estimated fair value amounts.  The Company used the following market assumptions and/or estimation methods:
	•	Cash and cash equivalents, hotel and other receivables, accounts payable and other liabilities - The carrying amounts reported in the consolidated balance sheet for these financial instruments approximate fair value because of their short maturities.
	•	Variable rate mortgage notes payable and borrowings under the Revolver and Term Loans - The carrying amounts reported in the consolidated balance sheets for these financial instruments approximate fair value.  The Company estimates the fair value of its variable rate debt by using estimated market rates for similar loans with similar terms and loan to value ratios, which is a Level 3 input. As a result, the Company determined that its variable rate mortgage notes payable in their entirety are classified in Level 3 of the fair value hierarchy.
	•	Fixed rate mortgage notes payable - The fair value estimated at March 31, 2014 and December 31, 2013 of $175.5 million and $188.0 million, respectively, is calculated based on the net present value of payments over the term of the loans using estimated market rates for similar mortgage loans with similar terms and loan to value ratios, which is a Level 3 input. As a result, the Company determined that its fixed rate mortgage notes payable in their entirety are classified in Level 3 of the fair value hierarchy.  The carrying value of fixed rate mortgage notes payable at March 31, 2014 and December 31, 2013 was $170.5 million and $182.7 million, respectively.
	Recurring Fair Value Measurements
	The following table presents the Company’s fair value hierarchy for those financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2014 (in thousands):
		Fair Value at March 31, 2014
		Level 1		Level 2			Level 3		Total
	Interest rate swap asset	$	—	$	2,606		$	—	$	2,606
	Interest rate swap liability	$	—	$	(9,908	)	$	—	$	(9,908	)
	Total	$	—	$	(7,302	)	$	—	$	(7,302	)
	The fair values of the derivative financial instruments are determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. The Company determined that the significant inputs, such as interest yield curves and discount rates, used to value its derivatives fall within Level 2 of the fair value hierarchy and that the credit valuation adjustments associated with the Company’s counterparties and its own credit risk utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. As of March 31, 2014, the Company assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and determined that the credit valuation adjustments were not significant to the overall valuation of its derivatives. As a result, the Company determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy.

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	Income Taxes
	The Company elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code when it filed its U.S. federal tax return for its short taxable year ended December 31, 2011.  To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including a requirement that it distribute at least 90% of its adjusted taxable income to its shareholders, subject to certain adjustments and excluding any net capital gain.  The Company’s intention is to adhere to these requirements and maintain the qualification for taxation as a REIT.  As a REIT, the Company is not subject to federal corporate income tax on that portion of net income that is currently distributed to its shareholders.  However, the Company’s taxable REIT subsidiaries ("TRS") will generally be subject to federal, state, and local income taxes.
	The Company accounts for income taxes using the asset and liability method.  Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases.  Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled.  The effect on deferred tax assets and liabilities from a change in tax rates is recognized in earnings in the period when the new rate is enacted.
	The Company had no accruals for tax uncertainties as of March 31, 2014 and December 31, 2013.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	Commitments and Contingencies
	Restricted Cash Reserves
	The Company is obligated to maintain reserve funds for capital expenditures at the hotels (including the periodic replacement or refurbishment of FF&E) as determined pursuant to the management agreements, franchise agreements and/or mortgage loan documents. The management agreements, franchise agreements and/or mortgage loan documents require the Company to reserve restricted cash ranging from 2.0% to 5.0% of the individual hotel’s revenues and maintain the reserves in restricted cash reserve escrows. Any unexpended amounts will remain the property of the Company upon termination of the management agreements, franchise agreements or mortgage loan documents. Additionally, some loan agreements require the Company to reserve restricted cash for the periodic payment of real estate taxes and insurance. As of March 31, 2014 and December 31, 2013, approximately $57.2 million and $62.4 million, respectively, was available in restricted cash reserves for future capital expenditures, real estate taxes and insurance.
	Litigation
	Neither the Company nor any of its subsidiaries are currently involved in any regulatory or legal proceedings that management believes will have a material adverse effect on the financial position, operations or liquidity of the Company.
	Data Breach
	During the first quarter of 2014, one of the Company's third-party hotel managers notified the Company of a data breach that occurred over a nine-month period ending in December 2013 at 14 of the hotels that they manage, including seven hotels that are owned by the Company. An analysis of the data breach revealed that hackers installed memory scraping malware on food and beverage point of sale systems that was designed to capture credit card data. During the period of the breach, it appears that information from approximately 95,000 credit cards could have been collected by the malware. The third-party hotel manager is cooperating with the relevant authorities in their investigations of this criminal cyber-attack. The Company and its third-party hotel manager are also taking steps to assess and further strengthen information security systems.
	The Company believes that the credit card companies impacted may seek to impose fines, fees or assessments in connection with the breach against various parties, including the Company. The Company may also incur other costs, including legal fees and other professional services fees, related to investigating the breach. Because the investigation into the matter is ongoing and certain factual and legal questions remain unanswered, the Company is unable to estimate with certainty the costs, fines, fees or assessments that may be associated with any potential claims; however, no claims have yet been made and the Company currently believes that any amounts that may be incurred as a result of this incident will not be material to the results of operations.

Equity_Incentive_Plan

Equity Incentive Plan	3 Months Ended
	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Equity Incentive Plan	'
	Equity Incentive Plan
	The Company may issue equity-based awards to officers, employees, non-employee trustees and other eligible persons under the 2011 Plan. The 2011 Plan provides for a maximum of 5,000,000 common shares of beneficial interest to be issued in the form of share options, share appreciation rights, restricted share awards, unrestricted share awards, share units, dividend equivalent rights, long-term incentive units, other equity-based awards and cash bonus awards.
	Share Awards
	From time to time, the Company may award non-vested restricted shares under the 2011 Plan, as compensation to officers, employees and non-employee trustees. The shares issued to officers and employees vest over a period of time as determined by the board of trustees at the date of grant. The Company recognizes compensation expense for time-based non-vested shares on a straight-line basis over the vesting period based upon the fair market value of the shares on the date of issuance, adjusted for forfeitures.
	The Company may also award unrestricted shares under the 2011 Plan as compensation to non-employee trustees that would otherwise be paid in cash for their services. The shares issued to trustees are unrestricted and include no vesting conditions. The Company recognizes compensation expense for the unrestricted shares issued in lieu of cash compensation on the date of issuance based upon the fair market value of the shares on that date.
	A summary of the non-vested shares as of March 31, 2014 is as follows:
		2014
		Number of		Weighted-Average
		Shares		Grant Date Fair
				Value
	Unvested at January 1,	932,800		$	18.99
	Granted (1)	306,104		24.13
	Vested (1)	(119,679	)	18.74
	Forfeited	(1,905	)	20.35
	Unvested at March 31,	1,117,320		$	20.42
	-1	Includes 1,051 unrestricted shares issued in lieu of cash compensation to non-employee trustees at a weighted-average grant date fair value of $26.74.
	For the three months ended March 31, 2014 and 2013, the Company recognized approximately $2.5 million and $1.9 million, respectively, of share-based compensation expense related to restricted share awards.  As of March 31, 2014, there was $21.6 million of total unrecognized compensation costs related to non-vested share awards and these costs were expected to be primarily recognized over a weighted-average period of 2.60 years. The total fair value of shares vested (calculated as number of shares multiplied by vesting date share price) during the three months ended March 31, 2014 was approximately $3.1 million.
	Performance Units
	The Company awarded performance units to certain employees under the 2011 Plan.  The performance units vest over a four-year period, including three years of performance-based vesting ("measurement period") plus an additional one year of time-based vesting.
	As of March 31, 2014, there were 1.0 million unvested performance units with a weighted-average grant date fair value of $15.36 per performance unit.
	For both the three months ended March 31, 2014 and 2013, the Company recognized $1.1 million of share-based compensation expense related to the performance units.  As of March 31, 2014, there was $7.8 million of total unrecognized compensation cost related to the performance units and these costs are expected to be recognized over a weighted-average period of 1.8 years.
	As of March 31, 2014, there were 2,773,928 common shares available for future grant under the 2011 Plan.  Any performance units that convert into restricted shares will reduce the number of common shares available for future grant under the 2011 Plan.

Earnings_per_Common_Share

Earnings per Common Share	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Earnings per Common Share	'
	Earnings per Common Share
	Basic earnings per common share is calculated by dividing income from continuing operations attributable to common shareholders, including loss on disposal of hotel properties, by the weighted-average number of common shares outstanding during the period excluding the weighted-average number of unvested restricted shares outstanding during the period. Diluted earnings per common share is calculated by dividing income from continuing operations attributable to common shareholders, including loss on disposal of hotel properties, by the weighted-average number of common shares outstanding during the period, plus any shares that could potentially be outstanding during the period. Potential shares consist of unvested restricted share grants and unvested performance units, calculated using the treasury stock method. Any anti-dilutive shares have been excluded from the diluted earnings per share calculation.
	Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating shares and are considered in the computation of earnings per share pursuant to the two-class method. If there were any undistributed earnings allocable to participating shares, they would be deducted from net income attributable to common shareholders utilized in the basic and diluted earnings per share calculations.
	For each of the three months ended March 31, 2014 and 2013, no earnings representing undistributed earnings were allocated to participating shares because the Company paid dividends in excess of net income.
	The limited partners’ outstanding limited partnership units in the Operating Partnership (which may be redeemed for common shares of beneficial interest under certain circumstances) have been excluded from the diluted earnings per share calculation as there was no effect on the amounts for the three months ended March 31, 2014 and 2013, since the limited partners’ share of income would also be added back to net income attributable to common shareholders.
	The computation of basic and diluted earnings per common share is as follows (in thousands, except share and per share data):
		For the three months ended March 31,
		2014			2013
	Numerator:
	Income from continuing operations attributable to common shareholders, including loss on disposal of hotel properties	$	11,932		$	8,710
	Add: Loss from discontinued operations	—			(217		)
	Net income attributable to common shareholders	11,932			8,493
	Less: Dividends paid on unvested restricted shares	(246		)	(256		)
	Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares	$	11,686		$	8,237
	Denominator:
	Weighted-average number of common shares - basic	121,740,962			106,815,375
	Unvested restricted shares	281,721			188,630
	Unvested performance units	845,072			419,190
	Weighted-average number of common shares - diluted	122,867,755			107,423,195
	Income from continuing operations attributable to common shareholders, including loss on disposal of hotel properties - basic	$	0.1		$	0.08
	Discontinued operations	—			—
	Net income attributable to common shareholders - basic	$	0.1		$	0.08
	Income from continuing operations attributable to common shareholders, including loss on disposal of hotel properties - diluted	$	0.1		$	0.08
	Discontinued operations	—			—
	Net income attributable to common shareholders - diluted	$	0.1		$	0.08

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	Related Party Transactions
	RLJ Companies, LLC and its affiliates, a related party, periodically provide or receive services or pay or collect certain amounts to or from the Company. At March 31, 2014 and December 31, 2013, there was approximately $53,000 and $1,000, respectively, due from RLJ Companies, LLC which was included in other assets.

Supplemental_Information_to_St

Supplemental Information to Statements of Cash Flows	3 Months Ended
	Mar. 31, 2014
Supplemental Cash Flow Elements [Abstract]	'
Supplemental Information to Statements of Cash Flows	'
	Supplemental Information to Statements of Cash Flows (in thousands)
		For the three months ended March 31,
		2014			2013
	Interest paid	$	13,541		$	16,126
	Income taxes paid	$	37		$	15
	Supplemental investing and financing transactions:
	In conjunction with the acquisitions, the Company recorded the following:
	Purchase of real estate	$	312,500		$	82,970
	Accounts receivable	373			177
	Other assets	1,198			260
	Advance deposits	(405		)	(16		)
	Accounts payable and accrued expenses	(1,693		)	(3,870		)
	Acquisition of hotel and other properties, net	$	311,973		$	79,521
	In conjunction with the disposals, the Company recorded the following:
	Disposal of hotel properties	$	114,500		$	—
	Closing costs	(2,461		)	—
	Operating prorations	(958		)	—
	Proceeds from the disposal of hotel properties, net	$	111,081		$	—
	Supplemental non-cash transactions:
	Accrued capital expenditures	$	—		$	49

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	Subsequent Events
	On April 15, 2014, the Company paid a dividend of $0.22 per common share to shareholders of record at March 31, 2014.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Basis of Presentation and Principles of Consolidation	'
	Basis of Presentation and Principles of Consolidation
	The unaudited consolidated financial statements and related notes have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America ("GAAP") and in conformity with the rules and regulations of the Securities and Exchange Commission ("SEC") applicable to financial information. As such, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted in accordance with the rules and regulations of the SEC.  The unaudited financial statements include adjustments based on management’s estimates (consisting of normal recurring adjustments), which the Company considers necessary for the fair statement of the consolidated balance sheets, statements of operations and comprehensive income, statements of changes in equity and statements of cash flows for the periods presented. The unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto as of and for the year ended December 31, 2013, included in the Company's Annual Report on Form 10-K filed with the SEC on February 27, 2014.  Operating results for the three months ended March 31, 2014 are not necessarily indicative of actual operating results for the entire year.
	The unaudited consolidated financial statements include the accounts of the Company, the Operating Partnership and its wholly-owned subsidiaries, including a consolidated joint venture.  All significant intercompany balances have been eliminated in consolidation.
Reclassifications	'
	Reclassifications
	Certain prior year amounts in these financial statements have been reclassified to conform to the current year presentation with no impact to net income, shareholders’ equity or cash flows.
Use of Estimates	'
	Use of Estimates
	The preparation of the Company’s financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of certain assets and liabilities and the amounts of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Revenue Recognition	'
	Revenue Recognition
	The Company’s revenue comprises hotel operating revenue, such as room revenue, food and beverage revenue and revenue from other hotel operating departments (such as telephone, parking and business centers). These revenues are recorded net of any sales and occupancy taxes collected from guests. All rebates or discounts are recorded as a reduction in revenue, and there are no material contingent obligations with respect to rebates and discounts offered by the hotels. All revenues are recorded on an accrual basis as earned. Appropriate allowances are made for doubtful accounts and are recorded as bad debt expenses. The allowances are calculated as a percentage of aged accounts receivable.  Cash received prior to guest arrival is recorded as an advance from the guest and recognized as revenue at the time of occupancy.
	Incentive payments received pursuant to entry into management agreements are deferred and amortized into income over the life of the respective agreements.  In May 2012, the Company received an incentive payment of $4.0 million related to purchasing a hotel and entering into a franchise agreement, which is being recognized over the remaining term of the franchise agreement.  As of March 31, 2014, there was approximately $3.8 million remaining to be recognized.
Investment in Hotels and Other Properties	'
	Investment in Hotels and Other Properties
	The Company’s acquisitions generally consist of land, land improvements, buildings, building improvements, furniture, fixtures and equipment ("FF&E"), and inventory. The Company may also acquire intangibles related to in-place leases, management agreements and franchise agreements when properties are acquired.  The Company allocates the purchase price among the assets acquired and liabilities assumed based on their respective fair values. Transaction costs are expensed for acquisitions that are considered business combinations and capitalized for asset acquisitions.
	The Company’s investments in hotels and other properties are carried at cost and are depreciated using the straight-line method over estimated useful lives of 15 years for land improvements, 15 years for building improvements, 40 years for buildings and three to five years for FF&E. Intangibles arising from acquisitions are amortized using the straight-line method over the non-cancelable portion of the term of the agreement.  Maintenance and repairs are expensed and major renewals or improvements are capitalized. Upon the sale or disposal of a property, the asset and related accumulated depreciation are removed from the accounts and the related gain or loss is recognized.
	The Company considers each individual property to be an identifiable component of its business.  In accordance with the guidance on impairment or disposal of long-lived assets, the Company does not consider a property as "held for sale" until it is probable that the sale will be completed within one year and the other requisite criteria for such classification have been met.  The Company does not depreciate properties so long as they are classified as held for sale.  Upon designation of a property as being held for sale and quarterly thereafter, the Company reviews the realizability of the carrying value, less cost to sell, in accordance with the guidance.  Any such adjustment in the carrying value of a property classified as held for sale is reflected as an impairment charge.
	The Company assesses the carrying values of each property whenever events or changes in circumstances indicate that the carrying amounts of these properties may not be fully recoverable.  Recoverability of the property is measured by comparison of the carrying amount of the property to the estimated future undiscounted cash flows which take into account current market conditions and the Company’s intent with respect to holding or disposing of the property.  If the Company’s analysis indicates that the carrying value of the property is not recoverable on an undiscounted cash flow basis, it recognizes an impairment charge for the amount by which the carrying value exceeds the fair value of the property. Fair value is determined through various valuation techniques, including internally developed discounted cash flow models, comparable market transactions and third party appraisals, where considered necessary.
	The use of projected future cash flows is based on assumptions that are consistent with a market participant’s future expectations for the travel industry and economy in general and the Company’s expected use of the underlying properties.  The assumptions and estimates about future cash flows and capitalization rates are complex and subjective.  Changes in economic and operating conditions that occur subsequent to a current impairment analysis and the Company’s ultimate use of the property could impact these assumptions and result in future impairment charges with respect to the properties.
Noncontrolling Interest	'
	Noncontrolling Interest
	The consolidated financial statements include all subsidiaries controlled by the Company. For controlled subsidiaries that are not wholly-owned, the noncontrolling interests in these subsidiaries are presented separately in the consolidated financial statements. As of March 31, 2014 the Company consolidated DBT Met Hotel Venture, LP, a majority-owned partnership that has a third-party, noncontrolling 1.9% ownership interest. The third-party partnership interest is included in noncontrolling
Franchise Agreements	'
	Franchise Agreements
	As of March 31, 2014, 128 of the Company’s hotel properties were operated under franchise agreements with initial terms ranging from 10 to 30 years. The franchise agreements for these hotels allow the properties to operate under the respective brands. Pursuant to the franchise agreements, the Company pays a royalty fee, generally between 3.0% and 6.0% of room revenue, plus additional fees for marketing, central reservation systems and other franchisor costs that amount to between 1.0% and 4.3% of room revenue. Certain full service hotels are also charged a royalty fee of between 1.5% and 3.0% of food and beverage revenues.  Franchise fees are included in other hotel operating expenses in the consolidated financial statements.
Earnings Per Share	'
	Earnings Per Share
	Basic earnings per common share is calculated by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding during the period excluding the weighted-average number of unvested restricted shares outstanding during the period.  Diluted earnings per common share is calculated by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding during the period, plus any shares that could potentially be outstanding during the period.  Potential shares consist of unvested restricted share grants and unvested performance units, calculated using the treasury stock method.  Any anti-dilutive shares have been excluded from the diluted earnings per share calculation.
Share-based Compensation	'
	Share-based Compensation
	From time to time, the Company may issue share-based awards under the 2011 Equity Incentive Plan (the "2011 Plan"), as compensation to officers, employees and non-employee trustees (see Note 11). The vesting of awards issued to officers and employees is based on either continued employment (time-based) or based on the relative total shareholder returns of the Company (performance-based) and continued employment, as determined by the board of trustees at the date of grant. The Company recognizes, for time-based awards, compensation expense for non-vested shares on a straight-line basis over the vesting period based upon the fair market value of the shares on the date of grant, adjusted for forfeitures.  The Company recognizes, for performance-based awards, compensation expense over the requisite service period for each award, based on the fair market value of the shares on the date of grant, as determined using a Monte Carlo simulation, adjusted for forfeitures.

Acquisition_of_Hotel_and_Other1

Acquisition of Hotel and Other Properties (Tables)	3 Months Ended
	Mar. 31, 2014
Business Combinations [Abstract]	'
Schedule of properties acquired through wholly-owned subsidiaries, which were funded by capital contributions	'
	During the three months ended March 31, 2014, the Company acquired a 100% interest in the following properties:
	Property		Location		Acquisition Date		Management Company		Rooms	Purchase Price (in thousands)
	Hyatt House Charlotte Center City		Charlotte, NC		March 12, 2014		Select Hotels Group, LLC		163	$	32,496
	Hyatt House Cypress Anaheim		Cypress, CA		March 12, 2014		Select Hotels Group, LLC		142	14,753
	Hyatt House Emeryville SF Bay Area		Emeryville, CA		March 12, 2014		Select Hotels Group, LLC		234	39,274
	Hyatt House San Diego Sorrento Mesa		San Diego, CA		March 12, 2014		Select Hotels Group, LLC		193	35,985
	Hyatt House San Jose Silicon Valley		San Jose, CA		March 12, 2014		Select Hotels Group, LLC		164	44,159
	Hyatt House San Ramon		San Ramon, CA		March 12, 2014		Select Hotels Group, LLC		142	20,833
	Hyatt House Santa Clara		Santa Clara, CA		March 12, 2014		Select Hotels Group, LLC		150	40,570
	Hyatt Market Street The Woodlands		The Woodlands, TX		March 12, 2014		Hyatt Corporation		70	25,817
	Hyatt Place Fremont Silicon Valley		Fremont, CA		March 12, 2014		Select Hotels Group, LLC		151	23,525
	Hyatt Place Madison Downtown		Madison, WI		March 12, 2014		Select Hotels Group, LLC		151	35,088
									1,560	$	312,500
	During the three months ended March 31, 2013, the Company acquired a 100% interest in the following properties:
	Property		Location		Acquisition Date		Management Company		Rooms	Purchase Price (in thousands)
	Courtyard Houston Downtown Convention Center		Houston, TX		March 19, 2013		White Lodging Services		191	$	34,308
	Residence Inn Houston Downtown Convention Center		Houston, TX		March 19, 2013		White Lodging Services		171	29,421
	Humble Tower Apartments (1)		Houston, TX		March 19, 2013		n/a		82	15,547
									444	$	79,276
	-1	Conversion to a SpringHill Suites is in progress.
Schedule of allocation of purchase price for the properties acquired	'
	Acquisition of Hotel and Other Properties
	During the three months ended March 31, 2014, the Company acquired a 100% interest in the following properties:
	Property		Location		Acquisition Date		Management Company		Rooms	Purchase Price (in thousands)
	Hyatt House Charlotte Center City		Charlotte, NC		March 12, 2014		Select Hotels Group, LLC		163	$	32,496
	Hyatt House Cypress Anaheim		Cypress, CA		March 12, 2014		Select Hotels Group, LLC		142	14,753
	Hyatt House Emeryville SF Bay Area		Emeryville, CA		March 12, 2014		Select Hotels Group, LLC		234	39,274
	Hyatt House San Diego Sorrento Mesa		San Diego, CA		March 12, 2014		Select Hotels Group, LLC		193	35,985
	Hyatt House San Jose Silicon Valley		San Jose, CA		March 12, 2014		Select Hotels Group, LLC		164	44,159
	Hyatt House San Ramon		San Ramon, CA		March 12, 2014		Select Hotels Group, LLC		142	20,833
	Hyatt House Santa Clara		Santa Clara, CA		March 12, 2014		Select Hotels Group, LLC		150	40,570
	Hyatt Market Street The Woodlands		The Woodlands, TX		March 12, 2014		Hyatt Corporation		70	25,817
	Hyatt Place Fremont Silicon Valley		Fremont, CA		March 12, 2014		Select Hotels Group, LLC		151	23,525
	Hyatt Place Madison Downtown		Madison, WI		March 12, 2014		Select Hotels Group, LLC		151	35,088
									1,560	$	312,500
	During the three months ended March 31, 2013, the Company acquired a 100% interest in the following properties:
	Property		Location		Acquisition Date		Management Company		Rooms	Purchase Price (in thousands)
	Courtyard Houston Downtown Convention Center		Houston, TX		March 19, 2013		White Lodging Services		191	$	34,308
	Residence Inn Houston Downtown Convention Center		Houston, TX		March 19, 2013		White Lodging Services		171	29,421
	Humble Tower Apartments (1)		Houston, TX		March 19, 2013		n/a		82	15,547
									444	$	79,276
	-1	Conversion to a SpringHill Suites is in progress.
	The allocation of purchase price for the properties acquired was as follows (in thousands):
		For the three months ended March 31,
		2014				2013
	Land and land improvements	$	64,303			$	12,855
	Buildings and improvements	213,110				66,622
	Furniture, fixtures and equipment	35,087				3,152
	Lease intangibles	—				342
	Management agreement intangibles	—				(3,695		)
	Total purchase price	$	312,500			$	79,276
	For the properties acquired during the three months ended March 31, 2014 and 2013, respectively, total revenues and net income (loss) from the date of acquisition through March 31, 2014 and 2013, respectively, are included in the consolidated statements of operations as follows (in thousands):
		2014 acquisitions
		For the three months ended March 31, 2014
	Revenue	$	4,531
	Net loss	$	(453	)
		2013 acquisitions
		For the three months ended March 31, 2013
	Revenue	$	693
	Net loss	$	(887	)
	The following unaudited condensed pro forma financial information presents the results of operations as if the 2014 acquisitions had taken place on January 1, 2013 and the 2013 acquisitions had taken place on January 1, 2012.  The unaudited condensed pro forma financial information is not necessarily indicative of what actual results of operations of the Company would have been assuming the 2014 and 2013 acquisitions had taken place on January 1, 2013 and 2012, respectively, nor does it purport to represent the results of operations for future periods.  The unaudited condensed pro forma financial information is as follows (in thousands, except share and per share data):
		For the three months ended March 31,
		2014				2013
	Revenue	$	250,396			$	244,234
	Net income attributable to common shareholders	$	15,833			$	15,379
	Net income per share attributable to common shareholders - basic	$	0.13			$	0.14
	Net income per share attributable to common shareholders - diluted	$	0.13			$	0.14
	Weighted-average number of shares outstanding - basic	121,740,962				106,815,375
	Weighted-average number of shares outstanding - diluted	122,867,755				107,423,195
	The allocation of purchase price for the properties acquired was as follows (in thousands):
		For the three months ended March 31,
		2014				2013
	Land and land improvements	$	64,303			$	12,855
	Buildings and improvements	213,110				66,622
	Furniture, fixtures and equipment	35,087				3,152
	Lease intangibles	—				342
	Management agreement intangibles	—				(3,695		)
	Total purchase price	$	312,500			$	79,276
Schedule of total revenues and net loss from the properties acquired	'
	For the properties acquired during the three months ended March 31, 2014 and 2013, respectively, total revenues and net income (loss) from the date of acquisition through March 31, 2014 and 2013, respectively, are included in the consolidated statements of operations as follows (in thousands):
		2014 acquisitions
		For the three months ended March 31, 2014
	Revenue	$	4,531
	Net loss	$	(453	)
		2013 acquisitions
		For the three months ended March 31, 2013
	Revenue	$	693
	Net loss	$	(887	)
Schedule of unaudited condensed pro forma financial information	'
	The unaudited condensed pro forma financial information is as follows (in thousands, except share and per share data):
		For the three months ended March 31,
		2014				2013
	Revenue	$	250,396			$	244,234
	Net income attributable to common shareholders	$	15,833			$	15,379
	Net income per share attributable to common shareholders - basic	$	0.13			$	0.14
	Net income per share attributable to common shareholders - diluted	$	0.13			$	0.14
	Weighted-average number of shares outstanding - basic	121,740,962				106,815,375
	Weighted-average number of shares outstanding - diluted	122,867,755				107,423,195

Discontinued_Operations_Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]	'
Schedule of property disposed during period	'
	The following table provides a list of properties that were disposed of during 2013:
	Property Name		Location		Disposal Date	Rooms
	SpringHill Suites Southfield		Southfield, MI		May 30, 2013	84
	Courtyard Goshen		Goshen, IN		August 28, 2013	91
	Fairfield Inn & Suites Memphis		Memphis, TN		November 18, 2013	63
					Total	238
	The following table provides a list of properties that were disposed of during three months ended March 31, 2014:
	Property Name		Location		Disposal Date	Rooms
	Courtyard Denver Southwest Lakewood		Lakewood, CO		February 20, 2014	90
	Residence Inn Denver Southwest Lakewood		Lakewood, CO		February 20, 2014	102
	Hyatt House Colorado Springs		Colorado Springs, CO		February 20, 2014	125
	SpringHill Suites Gainesville		Gainesville, FL		February 20, 2014	126
	Residence Inn Indianapolis Airport		Indianapolis, IN		February 20, 2014	95
	Fairfield Inn & Suites Indianapolis Airport		Indianapolis, IN		February 20, 2014	86
	Courtyard Grand Rapids Airport		Kentwood, MI		February 20, 2014	84
	Hampton Inn Suites Las Vegas Red Rock Summerlin		Las Vegas, NV		February 20, 2014	106
	Courtyard Austin University Area		Austin, TX		February 20, 2014	198
	Fairfield Inn & Suites Austin University Area		Austin, TX		February 20, 2014	63
	Hyatt House Dallas Richardson		Richardson, TX		February 20, 2014	130
	Hilton Garden Inn St George		St. George, UT		February 25, 2014	150
	Hilton Mystic		Mystic, CT		March 26, 2014	182
					Total	1,537
Schedule of operating results of discontinued operations	'
	Operating results of discontinued operations were as follows (in thousands):
		For the three months ended March 31, 2013
	Operating revenue	$	1,017
	Operating expense	(1,076		)
	Operating loss	(59		)
	Interest expense	(160		)
	Net loss from discontinued operations	$	(219	)

Investment_in_Hotel_and_Other_1

Investment in Hotel and Other Properties (Tables)	3 Months Ended
	Mar. 31, 2014
Property, Plant and Equipment [Abstract]	'
Schedule of investment in hotel and other properties	'
	Investment in hotels and other properties as of March 31, 2014 and December 31, 2013 consisted of the following (in thousands):
		March 31, 2014			December 31, 2013
	Land and land improvements	$	635,290		$	594,402
	Buildings and improvements	2,986,369			2,866,849
	Furniture, fixtures and equipment	487,443			485,531
	Intangibles	2,507			2,507
		4,111,609			3,949,289
	Accumulated depreciation and amortization	(688,947		)	(708,126		)
	Investment in hotels and other properties, net	$	3,422,662		$	3,241,163

Debt_Tables

Debt (Tables)	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Schedule of Revolver and Term Loans	'
	As of and for the three months ended March 31, 2014 and 2013, details of the Revolver and Term Loans are as follows (in thousands):
									Interest expense for the
		Outstanding borrowings at March 31, 2014			Maturity Date		Interest Rate at March 31, 2014 (1)		three months ended March 31, 2014			three months ended March 31, 2013
	Revolver (2)	$	—		Nov-16		n/a		$	323		$	356
	2012 Five-Year Term Loan	400,000			Mar-19		1.70%		1,423			1,415
	Seven-Year Term Loan (3)	225,000			Nov-19		4.04%		2,255			769
	2013 Five-Year Term Loan (4)	400,000			Aug-18		3.07%		2,851			—
	Total	$	1,025,000						$	6,852		$	2,540
	-1	Interest rate at March 31, 2014 gives effect to interest rate hedges and LIBOR floors, as applicable.
	-2	Includes the unused facility fee of $0.2 million and $0.2 million for the three months ended March 31, 2014 and 2013, respectively.
	-3	Includes interest expense related to an interest rate hedge of $1.0 million for the three months ended March 31, 2014.
	-4	Includes interest expense related to an interest rate hedge of $1.2 million for the three months ended March 31, 2014.
Schedule of mortgage loans	'
	As of March 31, 2014 and December 31, 2013, the Company was subject to the following mortgage loans (in thousands):
											Principal balance at,
	Lender		Number of Assets Encumbered	Interest Rate at March 31, 2014 (1)				Maturity Date			31-Mar-14			December 31, 2013
	Wells Fargo		1	3.75%		-2		Oct-14		-3	$	68,500		$	68,500
	Wells Fargo		1	3.75%		-2		Oct-14		-3	17,500			17,500
	Wells Fargo		1	3.75%		-2		Oct-14		-3	21,000			21,000
	Wells Fargo		1	3.75%		-2		Oct-14		-3	11,000			11,000
	Wells Fargo		1	3.75%		-2		Oct-14		-3	24,000			24,000
	Capmark Financial Group		1	5.55%				May-15			10,816			10,916
	Capmark Financial Group		1	5.55%				Jun-15			4,692			4,736
	Barclay's Bank		1	5.55%				Jun-15			9,383			9,470
	Barclay's Bank		1	5.55%				Jun-15			8,374			8,452
	Barclay's Bank		1	5.55%				Jun-15			7,509			7,578
	Barclay's Bank		1	5.55%				Jun-15			4,917			4,962
	Barclay's Bank		1	5.55%				Jun-15			32,600			32,901
	Barclay's Bank		1	5.55%				Jun-15			5,517			5,568
	Barclay's Bank		1	5.55%				Jun-15			6,340			6,399
	Barclay's Bank		1	5.55%				Jun-15			6,336			6,394
	Barclay's Bank		1	5.55%				Jun-15			6,974			7,038
	Barclay's Bank		1	5.55%				Jun-15			6,340			6,399
	Barclay's Bank		1	5.55%				Jun-15			7,238			7,305
	Barclay's Bank		1	5.55%				Jun-15			9,083			9,166
	Barclay's Bank		1	5.60%				Jun-15			5,192			5,255
	Barclay's Bank		1	5.60%				Jun-15			8,067			8,142
	Barclay's Bank		1	5.60%				Jun-15			6,194			6,251
	Barclay's Bank		1	5.60%				Jun-15			8,081			8,156
	Capmark Financial Group		1	5.50%				Jul-15			6,391			6,450
	Barclay's Bank		1	5.44%				Sep-15			10,426			10,521
	PNC Bank (4)		5	2.50%		-2		May-16		-5	74,000			85,000
	Wells Fargo (6)		2	4.19%		-2		Sep-16		-7	82,000			82,000
	Wells Fargo		1	4.19%		-2		Sep-16		-7	33,000			33,000
	Wells Fargo		1	4.19%		-2		Sep-16		-7	35,000			35,000
	Barclay's Bank			5.55%				Jun-15			—			2,475
	Barclay's Bank			5.55%				Jun-15			—			4,063
	Capmark Financial Group			6.12%				Apr-15			—			4,068
			34								$	536,470		$	559,665
	-1	Interest rate at March 31, 2014 gives effect to interest rate hedges and LIBOR floors, as applicable.
	-2	Requires payments of interest only until the commencement of the extension period(s).
	-3	Maturity date may be extended for up to two additional one-year terms at the Company’s option, subject to certain lender requirements.
	-4	The five hotels encumbered by the PNC Bank loan are cross-collateralized.
	-5	Maturity date may be extended for one one-year term at the Company’s option, subject to certain lender requirements.
	-6	The two hotels encumbered by the Wells Fargo loan are cross-collateralized.
	-7	Maturity date may be extended for four one-year terms at the Company’s option, subject to certain lender requirements.

Derivatives_and_Hedging_Tables

Derivatives and Hedging (Tables)	3 Months Ended
	Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Schedule of interest rate swaps and caps	'
	As of March 31, 2014 and December 31, 2013, the Company had entered into the following derivative instruments (in thousands):
		Notional value at						Fair value at
	Hedge type	31-Mar-14		December 31, 2013		Hedge interest rate	Maturity	31-Mar-14			December 31, 2013
	Swap-cash flow	$	275,000	$	275,000	1.12%	11/20/17	$	2,606		$	3,161
	Swap-cash flow	175,000		175,000		1.56%	3/6/18	(1,858		)	(1,866		)
	Swap-cash flow	175,000		175,000		1.64%	3/6/18	(2,367		)	(2,406		)
	Swap-cash flow	16,500		16,500		1.83%	9/15/18	(257		)	(238		)
	Swap-cash flow	16,500		16,500		1.75%	9/15/18	(202		)	(181		)
	Swap-cash flow	40,500		40,500		1.83%	9/15/18	(630		)	(585		)
	Swap-cash flow	41,500		41,500		1.75%	9/15/18	(509		)	(456		)
	Swap-cash flow	18,000		18,000		1.83%	9/15/18	(280		)	(260		)
	Swap-cash flow	17,000		17,000		1.75%	9/15/18	(209		)	(187		)
	Swap-cash flow	125,000		125,000		2.02%	3/6/19	(2,202		)	(1,838		)
	Swap-cash flow	100,000		100,000		1.94%	3/6/19	(1,394		)	(1,085		)
		$	1,000,000	$	1,000,000			$	(7,302	)	$	(5,941	)

Fair_Value_Tables

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Schedule of fair value hierarchy for financial assets and liabilities measured at fair value on a recurring basis	'
	The following table presents the Company’s fair value hierarchy for those financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2014 (in thousands):
		Fair Value at March 31, 2014
		Level 1		Level 2			Level 3		Total
	Interest rate swap asset	$	—	$	2,606		$	—	$	2,606
	Interest rate swap liability	$	—	$	(9,908	)	$	—	$	(9,908	)
	Total	$	—	$	(7,302	)	$	—	$	(7,302	)

Equity_Incentive_Plan_Tables

Equity Incentive Plan (Tables) (Restricted share awards)	3 Months Ended
	Mar. 31, 2014
Restricted share awards	'
Equity Incentive Plan	'
Summary of the non-vested shares	'
	A summary of the non-vested shares as of March 31, 2014 is as follows:
		2014
		Number of		Weighted-Average
		Shares		Grant Date Fair
				Value
	Unvested at January 1,	932,800		$	18.99
	Granted (1)	306,104		24.13
	Vested (1)	(119,679	)	18.74
	Forfeited	(1,905	)	20.35
	Unvested at March 31,	1,117,320		$	20.42

Earnings_per_Common_Share_Tabl

Earnings per Common Share (Tables)	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Schedule of computation of basic and diluted earnings per common share	'
	The computation of basic and diluted earnings per common share is as follows (in thousands, except share and per share data):
		For the three months ended March 31,
		2014			2013
	Numerator:
	Income from continuing operations attributable to common shareholders, including loss on disposal of hotel properties	$	11,932		$	8,710
	Add: Loss from discontinued operations	—			(217		)
	Net income attributable to common shareholders	11,932			8,493
	Less: Dividends paid on unvested restricted shares	(246		)	(256		)
	Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares	$	11,686		$	8,237
	Denominator:
	Weighted-average number of common shares - basic	121,740,962			106,815,375
	Unvested restricted shares	281,721			188,630
	Unvested performance units	845,072			419,190
	Weighted-average number of common shares - diluted	122,867,755			107,423,195
	Income from continuing operations attributable to common shareholders, including loss on disposal of hotel properties - basic	$	0.1		$	0.08
	Discontinued operations	—			—
	Net income attributable to common shareholders - basic	$	0.1		$	0.08
	Income from continuing operations attributable to common shareholders, including loss on disposal of hotel properties - diluted	$	0.1		$	0.08
	Discontinued operations	—			—
	Net income attributable to common shareholders - diluted	$	0.1		$	0.08

Supplemental_Information_to_St1

Supplemental Information to Statements of Cash Flows (Tables)	3 Months Ended
	Mar. 31, 2014
Supplemental Cash Flow Elements [Abstract]	'
Schedule of supplemental information to statements of cash flows	'
		For the three months ended March 31,
		2014			2013
	Interest paid	$	13,541		$	16,126
	Income taxes paid	$	37		$	15
	Supplemental investing and financing transactions:
	In conjunction with the acquisitions, the Company recorded the following:
	Purchase of real estate	$	312,500		$	82,970
	Accounts receivable	373			177
	Other assets	1,198			260
	Advance deposits	(405		)	(16		)
	Accounts payable and accrued expenses	(1,693		)	(3,870		)
	Acquisition of hotel and other properties, net	$	311,973		$	79,521
	In conjunction with the disposals, the Company recorded the following:
	Disposal of hotel properties	$	114,500		$	—
	Closing costs	(2,461		)	—
	Operating prorations	(958		)	—
	Proceeds from the disposal of hotel properties, net	$	111,081		$	—
	Supplemental non-cash transactions:
	Accrued capital expenditures	$	—		$	49

Organization_Details

Organization (Details)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
	loan
	hotel
	state
	property
	room
Sale of Stock	'	'
OP units outstanding (in units)	123,795,341	'
Ownership interest in OP units through a combination of direct and indirect interests (as a percent)	99.30%	'
Number of properties owned	146	'
Number of hotel rooms owned	22,351	'
Number of hotels planned for conversion	2	'
Number of states in which hotels owned by the entity are located	21	'
Number of mortgage loans owned	1	'
Ownership interest in assets (as a percent)	100.00%	100.00%
Hotels	'	'
Sale of Stock	'	'
Number of hotels owned	144	'
Doubletree Metropolitan Hotel New York City	'	'
Sale of Stock	'	'
Ownership interest in assets (as a percent)	98.00%	'

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details) (USD $)	1 Months Ended		3 Months Ended
In Millions, unless otherwise specified	31-May-12	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014
		hotel	Land improvements	Buildings improvements	Buildings	Minimum	Minimum	Maximum	Maximum
							Furniture, fixtures and equipment		Furniture, fixtures and equipment
Revenue Recognition	'	'	'	'	'	'	'	'	'
Incentive payment received	$4	'	'	'	'	'	'	'	'
Revenue to be recognized	'	$3.80	'	'	'	'	'	'	'
Investment in Hotel and Other Properties	'	'	'	'	'	'	'	'	'
Estimated useful lives	'	'	'15 years	'15 years	'40 years	'	'3 years	'	'5 years
Noncontrolling Interest	'	'	'	'	'	'	'	'	'
Ownership interest of non controlling third party	'	1.90%	'	'	'	'	'	'	'
Franchise Agreements	'	'	'	'	'	'	'	'	'
Number of hotel properties operated under franchise agreements	'	128	'	'	'	'	'	'	'
Term of franchise agreements	'	'	'	'	'	'10 years	'	'30 years	'
Royalty fee as a percentage of room revenue	'	'	'	'	'	3.00%	'	6.00%	'
Additional fees for marketing, central reservation systems and other franchisor costs as a percentage of room revenue	'	'	'	'	'	1.00%	'	4.30%	'
Royalty fee as a percentage of food and beverage revenues	'	'	'	'	'	1.50%	'	3.00%	'

Acquisition_of_Hotel_and_Other2

Acquisition of Hotel and Other Properties (Details) (USD $)

3 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

In Thousands, except Share data, unless otherwise specified

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2014

Mar. 12, 2014

Mar. 12, 2014

Mar. 12, 2014

Mar. 12, 2014

Mar. 12, 2014

Mar. 12, 2014

Mar. 12, 2014

Mar. 12, 2014

Mar. 12, 2014

Mar. 12, 2014

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 19, 2013

Mar. 19, 2013

Mar. 19, 2013

room

Acquisitions 2014 [Member]

Acquisitions 2014 [Member]

Hyatt House Charlotte Center City [Member]

Hyatt House Cypress Anaheim [Member]

Hyatt House Emeryville SF Bay Area [Member]

Hyatt House San Diego Sorrento Mesa [Member]

Hyatt House San Jose Silicon Valley [Member]

Hyatt House San Ramon [Member]

Hyatt House Santa Claraa [Member]

Hyatt Market Street The Woodlands [Member]

Hyatt Place Fremont Silicon Valley [Member]

Hyatt Place Madison Downtown [Member]

2013 acquisitions

2013 acquisitions

2013 acquisitions

2013 acquisitions

2013 acquisitions

Courtyard Houston Downtown

Residence Inn Houston Downtown

Humble Tower Apartments

room

Lease Agreements [Member]

room

room

room

room

room

room

room

room

room

room

room

Lease Agreements [Member]

Management Agreement [Member]

Management Agreement [Member]

room

room

room

Acquisition of Hotel Properties

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Rooms

22,351

'

1,560

'

163

142

234

193

164

142

150

70

151

151

444

'

'

'

'

191

171

82

[1]

Purchase Price

'

'

'

'

$32,496

$14,753

$39,274

$35,985

$44,159

$20,833

$40,570

$25,817

$23,525

$35,088

$79,276

'

'

'

'

$34,308

$29,421

$15,547

[1]

% Interest

100.00%

100.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Land and land improvements

'

'

64,303

'

'

'

'

'

'

'

'

'

'

'

'

12,855

'

'

'

'

'

'

Buildings and improvements

'

'

213,110

'

'

'

'

'

'

'

'

'

'

'

'

66,622

'

'

'

'

'

'

Furniture, fixtures and equipment

'

'

35,087

'

'

'

'

'

'

'

'

'

'

'

'

3,152

'

'

'

'

'

'

Lease intangibles

'

'

'

0

'

'

'

'

'

'

'

'

'

'

'

'

342

'

'

'

'

'

Management agreement intangibles

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0

-3,695

'

'

'

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net

'

'

312,500

'

'

'

'

'

'

'

'

'

'

'

'

79,276

'

'

'

'

'

'

Total revenues and net income (loss) from hotels acquired

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Revenue

236,373

214,870

4,531

'

'

'

'

'

'

'

'

'

'

'

'

693

'

'

'

'

'

'

Net income (loss)

11,985

8,584

-453

'

'

'

'

'

'

'

'

'

'

'

'

-887

'

'

'

'

'

'

Unaudited condensed pro forma financial information

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Revenue

250,396

244,234

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net income

$15,833

$15,379

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net income per share attributable to common shareholders - basic (in dollars per share)

$0.13

$0.14

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net income per share attributable to common shareholders - diluted (in dollars per share)

$0.13

$0.14

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Weighted average number of shares outstanding - basic (in shares)

121,740,962

106,815,375

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Weighted average number of shares outstanding - diluted (in shares)

122,867,755

107,423,195

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

[1]

Conversion to a SpringHill Suites is in progress.

Discontinued_Operations_Detail

Discontinued Operations (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Discontinued Operations and Disposal Groups [Abstract]	'	'
Operating revenue	'	$1,017
Operating expense	'	-1,076
Operating loss	'	-59
Interest expense	'	-160
Net loss from discontinued operations	$0	($219)

Discontinued_Operations_Narrat

Discontinued Operations (Narrative) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
	hotel
Discontinued operations	'	'
Hotel properties disposed, Number	13	'
Disposal of hotel properties	$114,500	$0
Loss on disposal	$2,557	$0

Discontinued_Operations_Schedu

Discontinued Operations (Schedule of Properties Disposed) (Details)

Mar. 31, 2014

Dec. 31, 2013

30-May-13

Aug. 28, 2013

Nov. 18, 2013

Feb. 20, 2014

Feb. 20, 2014

Feb. 20, 2014

Feb. 20, 2014

Feb. 20, 2014

Feb. 20, 2014

Feb. 20, 2014

Feb. 20, 2014

Feb. 20, 2014

Feb. 20, 2014

Feb. 20, 2014

Feb. 25, 2014

Mar. 26, 2014

room

room

SpringHill Suites Southfield

Courtyard Goshen [Member]

Fairfield Inn & Suites Memphis [Member]

Courtyard Denver Southwest Lakewood [Member]

Residence Inn Denver Southwest Lakewood [Member]

Hyatt House Colorado Springs [Member]

SpringHill Suites Gainesville [Member]

Residence Inn Indianapolis Airport [Member]

Fairfield Inn & Suites Indianapolis Airport [Member]

Courtyard Grand Rapids Airport [Member]

Hampton Inn Suites Las Vegas Red Rock Summerlin [Member]

Courtyard Austin University Area [Member]

Fairfield Inn & Suites Austin University Area [Member]

Hyatt House Dallas Richardson [Member]

Hilton Garden Inn St George [Member]

Hilton Mystic [Member]

room

room

room

room

room

room

room

room

room

room

room

room

room

room

room

room

Discontinued operations

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Property disposed, number of rooms

1,537

238

84

91

63

90

102

125

126

95

86

84

106

198

63

130

150

182

Investment_in_Hotel_and_Other_2

Investment in Hotel and Other Properties (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Property, Plant and Equipment [Abstract]	'	'	'
Land and land improvements	$635,290,000	'	$594,402,000
Buildings and improvements	2,986,369,000	'	2,866,849,000
Furniture, fixtures and equipment	487,443,000	'	485,531,000
Intangibles	2,507,000	'	2,507,000
Total	4,111,609,000	'	3,949,289,000
Accumulated depreciation and amortization	-688,947,000	'	-708,126,000
Investment in hotel and other properties, net	3,422,662,000	'	3,241,163,000
Depreciation and amortization expense related to investment in hotel and other properties, excluding discontinued operations	32,800,000	31,200,000	'
Impairment loss	$0	$896,000	'

Debt_Details

Debt (Details) (USD $)

0 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

Mar. 20, 2014

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Nov. 20, 2012

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 20, 2014

Nov. 20, 2012

Mar. 20, 2014

Nov. 20, 2012

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Aug. 27, 2013

Mar. 31, 2014

Mar. 31, 2013

Aug. 27, 2013

Mar. 31, 2014

Mar. 31, 2014

term

Revolver

Revolver

Revolver

Standby letters of credit

Swingline loans

Revolving Credit Facility and Term Loans

Revolving Credit Facility and Term Loans

Five-Year Term Loan

Five-Year Term Loan

Five-Year Term Loan

Five-Year Term Loan

Seven-Year Term Loan

Seven-Year Term Loan

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Mortgage Loans

Seven Year Term Loan

Seven Year Term Loan

Seven Year Term Loan

Unsecured Term Loan Due August 27, 2018

Unsecured Term Loan Due August 27, 2018

Unsecured Term Loan Due August 27, 2018

Interest Rate Contract

Interest Rate Contract

asset

Wells Fargo, lender 1

Wells Fargo, lender 1

Wells Fargo, lender 2

Wells Fargo, lender 2

Wells Fargo, lender 3

Wells Fargo, lender 3

Wells Fargo, lender 4

Wells Fargo, lender 4

Wells Fargo, lender 5

Wells Fargo, lender 5

Capmark Financial Group, lender 1

Capmark Financial Group, lender 1

Capmark Financial Group, lender 2

Capmark Financial Group, lender 2

Barclay's Bank, lender 1

Barclay's Bank, lender 1

Barclay's Bank, lender 2

Barclay's Bank, lender 2

Barclay's Bank, lender 3

Barclay's Bank, lender 3

Barclay's Bank, lender 4

Barclay's Bank, lender 4

Barclay's Bank, lender 5

Barclay's Bank, lender 5

Barclay's Bank, lender 6

Barclay's Bank, lender 6

Barclay's Bank, lender 7

Barclay's Bank, lender 7

Barclay's Bank, lender 8

Barclay's Bank, lender 8

Barclay's Bank, lender 9

Barclay's Bank, lender 9

Barclay's Bank, lender 10

Barclay's Bank, lender 10

Barclay's Bank, lender 11

Barclay's Bank, lender 11

Barclay's Bank, lender 12

Barclay's Bank, lender 12

Barclay's Bank, lender 13

Barclay's Bank, lender 13

Barclay's Bank, lender 14

Barclay's Bank, lender 14

Barclay's Bank, lender 15

Barclay's Bank, lender 15

Barclay's Bank, lender 16

Barclay's Bank, lender 16

Capmark Financial Group, lender 3

Capmark Financial Group, lender 3

Barclay's Bank, lender 17

Barclay's Bank, lender 17

PNC Bank

PNC Bank

Wells Fargo lender 6

Wells Fargo lender 6

Wells Fargo, lender 7

Wells Fargo, lender 7

Wells Fargo, lender 8

Wells Fargo, lender 8

Barclay's Bank, lender 18

Barclay's Bank, lender 18

Barclay's Bank, lender 19

Barclay's Bank, lender 19

Capmark Financial Group, lender 4

Capmark Financial Group, lender 4

Seven-Year Term Loan

Unsecured Term Loan Due August 27, 2018

asset

asset

asset

asset

asset

asset

asset

asset

asset

asset

asset

asset

asset

asset

asset

asset

asset

asset

asset

asset

asset

asset

asset

asset

asset

term

asset

asset

asset

asset

asset

asset

hotel

asset

Debt

'

'

'

'

'

'

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'

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'

Maximum borrowings

'

'

'

'

'

'

$300,000,000

'

'

'

'

'

'

'

'

'

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'

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'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unsecured term loan

'

'

'

'

'

'

'

'

'

'

'

'

'

400,000,000

275,000,000

400,000,000

125,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

225,000,000

'

'

350,000,000

'

'

Debt, Decrease in Margin

0.15%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unused commitment fee

'

'

'

'

'

'

'

'

'

200,000

200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Outstanding borrowings on the Revolver

'

'

'

'

'

'

'

0

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest expense

'

6,852,000

2,540,000

'

323,000

356,000

'

'

'

'

'

1,423,000

1,415,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,255,000

769,000

'

2,851,000

0

'

1,000,000

1,200,000

Number of Assets Encumbered

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

34

'

1

'

1

'

1

'

1

'

1

'

1

'

1

'

1

'

1

'

1

'

1

'

1

'

1

'

1

'

1

'

1

'

1

'

1

'

1

'

1

'

1

'

1

'

1

'

1

'

1

'

5

'

2

'

1

'

1

[1]

'

'

[2]

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest rate (as a percent)

'

'

'

'

'

'

'

'

'

'

'

1.70%

[3]

'

'

'

'

'

'

'

3.75%

[3],[4]

'

3.75%

[3],[4]

'

3.75%

[3],[4]

'

3.75%

[3],[4]

'

3.75%

[3],[4]

'

5.55%

[3]

'

5.55%

[3]

'

5.55%

[3]

'

5.55%

[3]

'

5.55%

[3]

'

5.55%

[3]

'

5.55%

[3]

'

5.55%

[3]

'

5.55%

[3]

'

5.55%

[3]

'

5.55%

[3]

'

5.55%

[3]

'

5.55%

[3]

'

5.55%

[3]

'

5.60%

[3]

'

5.60%

[3]

'

5.60%

[3]

'

5.60%

[3]

'

5.50%

[3]

'

5.44%

[3]

'

2.50%

[3]

'

4.19%

[3]

'

4.19%

[3]

'

4.19%

[1],[3]

'

5.55%

[2],[3]

'

5.55%

[3]

'

6.12%

[3]

'

4.04%

[3],[5]

'

'

3.07%

[3],[6]

'

'

'

'

Mortgage loans

'

$536,470,000

'

$559,665,000

'

'

'

'

'

'

'

'

'

'

'

'

'

$536,470,000

$559,665,000

$68,500,000

$68,500,000

$17,500,000

$17,500,000

$21,000,000

$21,000,000

$11,000,000

$11,000,000

$24,000,000

$24,000,000

$10,816,000

$10,916,000

$4,692,000

$4,736,000

$9,383,000

$9,470,000

$8,374,000

$8,452,000

$7,509,000

$7,578,000

$4,917,000

$4,962,000

$32,600,000

$32,901,000

$5,517,000

$5,568,000

$6,340,000

$6,399,000

$6,336,000

$6,394,000

$6,974,000

$7,038,000

$6,340,000

$6,399,000

$7,238,000

$7,305,000

$9,083,000

$9,166,000

$5,192,000

$5,255,000

$8,067,000

$8,142,000

$6,194,000

$6,251,000

$8,081,000

$8,156,000

$6,391,000

$6,450,000

$10,426,000

$10,521,000

$74,000,000

$85,000,000

$82,000,000

$82,000,000

$33,000,000

$33,000,000

$35,000,000

[1]

$35,000,000

[1]

$0

[2]

$2,475,000

[2]

$0

$4,063,000

$0

$4,068,000

'

'

'

'

'

'

'

'

Number of additional maturity terms

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Additional maturity term

'

'

'

'

'1 year

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'1 year

'

'1 year

'

'1 year

'

'1 year

'

'1 year

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'1 year

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of hotels encumbered by loans that are cross-collateralized

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

[1]

The five hotels encumbered by the PNC Bank loan are cross-collateralized.

[2]

The two hotels encumbered by the Wells Fargo loan are cross-collateralized.

[3]

Interest rate at March 31, 2014 gives effect to interest rate hedges and LIBOR floors, as applicable.

[4]

Requires payments of interest only until the commencement of the extension period(s).

[5]

Includes interest expense related to an interest rate hedge of $1.0 million for the three months ended March 31, 2014.

[6]

Includes interest expense related to an interest rate hedge of $1.2 million for the three months ended March 31, 2014.

Debt_Revolver_and_Term_Loans_D

Debt - Revolver and Term Loans (Details) (USD $)

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Jun. 30, 2013

Mar. 31, 2014

Mar. 31, 2013

Jun. 30, 2012

Mar. 31, 2014

Mar. 31, 2013

Jun. 30, 2013

Mar. 31, 2014

Mar. 31, 2013

Jun. 30, 2013

Mar. 31, 2014

Mar. 31, 2013

Jun. 30, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2014

Revolver

Revolver

Revolver

Five-Year Term Loan

Five-Year Term Loan

Five-Year Term Loan

Seven Year Term Loan

Seven Year Term Loan

Seven Year Term Loan

Unsecured Term Loan Due August 27, 2018

Unsecured Term Loan Due August 27, 2018

Unsecured Term Loan Due August 27, 2018

Revolving Credit Facility and Term Loans

Revolving Credit Facility and Term Loans

Interest Rate Contract

Interest Rate Contract

Unsecured Term Loan Due August 27, 2018

Seven-Year Term Loan

Debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Outstanding borrowings

'

'

$1,025,000,000

'

'

$0

[1]

'

'

$400,000,000

'

'

$225,000,000

[2]

'

'

$400,000,000

[3]

'

'

'

'

Interest rate (as a percent)

'

'

'

'

'

'

1.70%

[4]

'

'

4.04%

[2],[4]

'

'

3.07%

[3],[4]

'

'

'

'

'

'

Interest expense

6,852,000

2,540,000

'

323,000

356,000

'

1,423,000

1,415,000

'

2,255,000

769,000

'

2,851,000

0

'

'

'

1,200,000

1,000,000

Unused commitment fee

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$200,000

$200,000

'

'

[1]

Includes the unused facility fee of $0.2 million and $0.2 million for the three months ended March 31, 2014 and 2013, respectively.

[2]

Includes interest expense related to an interest rate hedge of $1.0 million for the three months ended March 31, 2014.

[3]

Includes interest expense related to an interest rate hedge of $1.2 million for the three months ended March 31, 2014.

[4]

Interest rate at March 31, 2014 gives effect to interest rate hedges and LIBOR floors, as applicable.

Derivatives_and_Hedging_Detail

Derivatives and Hedging (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Financial Instruments: Derivatives and Hedging	'	'	'
Notional value	$1,000,000,000	'	$1,000,000,000
Total	-7,302,000	'	-5,941,000
Unrealized gains included in accumulated other comprehensive loss	7,300,000	'	-5,941,000
Amount of ineffective hedges	0	0	'
Interest rate swap	'	'	'
Financial Instruments: Derivatives and Hedging	'	'	'
Fair value assets	2,606,000	'	'
Fair value liabilities	-9,900,000	'	-9,100,000
Designated as Hedging Instrument | Swap-cash flow, hedge type one	'	'	'
Financial Instruments: Derivatives and Hedging	'	'	'
Notional value	275,000,000	'	275,000,000
Hedge interest rate (as a percent)	1.12%	'	'
Fair value assets	2,606,000	'	'
Fair value liabilities	'	'	3,161,000
Designated as Hedging Instrument | Swap-cash flow, hedge type two	'	'	'
Financial Instruments: Derivatives and Hedging	'	'	'
Notional value	175,000,000	'	175,000,000
Hedge interest rate (as a percent)	1.56%	'	'
Fair value liabilities	-1,858,000	'	-1,866,000
Designated as Hedging Instrument | Swap-cash flow, hedge type three	'	'	'
Financial Instruments: Derivatives and Hedging	'	'	'
Notional value	175,000,000	'	175,000,000
Hedge interest rate (as a percent)	1.64%	'	'
Fair value liabilities	-2,367,000	'	-2,406,000
Designated as Hedging Instrument | ISwap-cash flow, hedge type four	'	'	'
Financial Instruments: Derivatives and Hedging	'	'	'
Notional value	16,500,000	'	16,500,000
Hedge interest rate (as a percent)	1.83%	'	'
Fair value liabilities	-257,000	'	-238,000
Designated as Hedging Instrument | Swap-cash flow, hedge type five	'	'	'
Financial Instruments: Derivatives and Hedging	'	'	'
Notional value	16,500,000	'	16,500,000
Hedge interest rate (as a percent)	1.75%	'	'
Fair value liabilities	-202,000	'	-181,000
Designated as Hedging Instrument | Swap-cash flow, hedge type six	'	'	'
Financial Instruments: Derivatives and Hedging	'	'	'
Notional value	40,500,000	'	40,500,000
Hedge interest rate (as a percent)	1.83%	'	'
Fair value liabilities	-630,000	'	-585,000
Designated as Hedging Instrument | Swap-cash flow, hedge type seven	'	'	'
Financial Instruments: Derivatives and Hedging	'	'	'
Notional value	41,500,000	'	41,500,000
Hedge interest rate (as a percent)	1.75%	'	'
Fair value liabilities	-509,000	'	-456,000
Designated as Hedging Instrument | Swap-cash flow, hedge type eight	'	'	'
Financial Instruments: Derivatives and Hedging	'	'	'
Notional value	18,000,000	'	18,000,000
Hedge interest rate (as a percent)	1.83%	'	'
Fair value liabilities	-280,000	'	-260,000
Designated as Hedging Instrument | Swap-cash flow, hedge type nine	'	'	'
Financial Instruments: Derivatives and Hedging	'	'	'
Notional value	17,000,000	'	17,000,000
Hedge interest rate (as a percent)	1.75%	'	'
Fair value liabilities	-209,000	'	-187,000
Designated as Hedging Instrument | Swap-cash flow, hedge type ten	'	'	'
Financial Instruments: Derivatives and Hedging	'	'	'
Notional value	125,000,000	'	125,000,000
Hedge interest rate (as a percent)	2.02%	'	'
Fair value liabilities	-2,202,000	'	-1,838,000
Designated as Hedging Instrument | Swap-cash flow, hedge type eleven	'	'	'
Financial Instruments: Derivatives and Hedging	'	'	'
Notional value	100,000,000	'	100,000,000
Hedge interest rate (as a percent)	1.94%	'	'
Fair value liabilities	-1,394,000	'	-1,085,000
Interest Expense [Member]	'	'	'
Financial Instruments: Derivatives and Hedging	'	'	'
Amount reclassified from accumulated other comprehensive income into interest expense	$2,900,000	$0	'

Fair_Value_Details

Fair Value (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Fair Value	'	'
Total	($7,302,000)	($5,941,000)
Interest rate swap	'	'
Fair Value	'	'
Interest rate swap asset	2,606,000	'
Interest rate swap liability	-9,900,000	-9,100,000
Level 3	'	'
Fair Value	'	'
Fixed rate mortgage notes payable	175,500,000	188,000,000
Carrying value of fixed rate mortgage notes payable	170,500,000	182,700,000
Recurring | Level 2 | Interest rate swap	'	'
Fair Value	'	'
Interest rate swap asset	2,606,000	'
Interest rate swap liability	-9,908,000	'
Total	-7,302,000	'
Recurring | Total | Interest rate swap	'	'
Fair Value	'	'
Interest rate swap asset	2,606,000	'
Interest rate swap liability	-9,908,000	'
Total	($7,302,000)	'

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]	'	'
Minimum percentage of adjusted taxable income to be currently distributed to owners to qualify as a REIT	90.00%	'
Accruals for tax uncertainties	$0	$0

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]	'	'
Minimum restricted cash reserve escrows to be maintained as a percentage of the hotel's revenue	2.00%	'
Maximum restricted cash reserve escrows to be maintained as percentage of hotel's revenue	5.00%	'
Restricted cash reserves for future capital expenditures, real estate taxes and insurance	$57,193	$62,430

Equity_Incentive_Plan_Details

Equity Incentive Plan (Details) (USD $)	3 Months Ended
	Mar. 31, 2014		Mar. 31, 2013
Equity Incentive Plan	'		'
Maximum number of common shares of beneficial interest to be issued (in shares)	5,000,000		'
Summary of non-vested shares/units	'		'
Granted (in shares)	1,051		'
Weighted Average Grant Date Fair Value	'		'
Granted (in dollars per share)	'		$26.74
Other Disclosures	'		'
Share-based compensation expense	$28,000		$40,000
Restricted share awards	'		'
Summary of non-vested shares/units	'		'
Unvested at the beginning of the period (in shares)	932,800		'
Granted (in shares)	306,104	[1]	'
Vested (in shares)	-119,679	[1]	'
Forfeited (in shares)	-1,905		'
Unvested at the end of the period (in shares)	1,117,320		'
Weighted Average Grant Date Fair Value	'		'
Unvested at the beginning of the period (in dollars per share)	$18.99		'
Granted (in dollars per share)	$24.13	[1]	'
Vested (in dollars per share)	$18.74	[1]	'
Forfeited (in dollars per share)	$20.35		'
Unvested at the end of the period (in dollars per share)	$20.42		'
Other Disclosures	'		'
Share-based compensation expense	2,500,000		1,900,000
Total unrecognized compensation costs	21,600,000		'
Weighted-average period of recognition of unrecognized share-based compensation expense	'2 years 7 months 6 days		'
Total fair value of shares vested	3,100,000		'
Performance Units	'		'
Summary of non-vested shares/units	'		'
Unvested at the end of the period (in shares)	1,000,000		'
Weighted Average Grant Date Fair Value	'		'
Unvested at the end of the period (in dollars per share)	$15.36		'
Other Disclosures	'		'
Share-based compensation expense	1,100,000		1,100,000
Total unrecognized compensation costs	$7,800,000		'
Weighted-average period of recognition of unrecognized share-based compensation expense	'1 year 9 months 18 days		'
Vesting period	'4 years		'
Measurement period	'3 years		'
Time-based vesting period	'1 year		'
Common shares available for future grant (in share)	2,773,928		'
[1]	Includes 1,051 unrestricted shares issued in lieu of cash compensation to non-employee trustees at a weighted-average grant date fair value of $26.74.

Earnings_per_Common_Share_Deta

Earnings per Common Share (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Earnings Per Share [Abstract]	'	'
Undistributed earnings	$0	$0
Numerator:	'	'
Net income attributable to common shareholders before discontinued operations (in shares)	11,932	8,710
Loss from discontinued operations	0	-217
Net income attributable to common shareholders	11,932	8,493
Less: Dividends paid on unvested restricted shares (in shares)	-246	-256
Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares (in shares)	$11,686	$8,237
Denominator:	'	'
Weighted-average number of common shares - basic (in shares)	121,740,962	106,815,375
Unvested restricted shares (in shares)	281,721	188,630
Unvested performance units (in shares)	845,072	419,190
Weighted-average number of common shares - diluted (in shares)	122,867,755	107,423,195
Basic per common share data:	'	'
Net income per share attributable to common shareholders before discontinued operations (in dollars per share)	$0.10	$0.08
Discontinued operations (in dollars per share)	$0	$0
Net income per share attributable to common shareholders (in dollars per share)	$0.10	$0.08
Diluted per common share data:	'	'
Net income per share attributable to common shareholders before discontinued operations (in dollars per share)	$0.10	$0.08
Discontinued operations (in dollars per share)	$0	$0
Net income per share attributable to common shareholders (in dollars per share)	$0.10	$0.08

Related_Party_Transactions_Det

Related Party Transactions (Details) (RLJ Companies LLC, USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
RLJ Companies LLC	'	'
Related Party Transactions	'	'
Due from related party	$53	$1

Supplemental_Information_to_St2

Supplemental Information to Statements of Cash Flows (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Supplemental Cash Flow Elements [Abstract]	'	'
Interest paid	$13,541	$16,126
Income taxes paid	37	15
In conjunction with the acquisitions, the Company recorded the following:	'	'
Purchase of real estate	312,500	82,970
Accounts receivable	373	177
Other assets	1,198	260
Advance deposits	-405	-16
Accounts payable and accrued expenses	-1,693	-3,870
Acquisition of hotel and other properties, net	311,973	79,521
In conjunction with the disposals, the Company recorded the following:	'	'
Disposal of hotel properties	114,500	0
Closing costs	-2,461	0
Operating prorations	-958	0
Proceeds from the disposal of hotel properties, net	111,081	0
Supplemental non-cash transactions:	'	'
Accrued capital expenditures	$0	$49

Subsequent_Events_Details

Subsequent Events (Details) (Subsequent event, Dividend paid, USD $)	0 Months Ended
	Apr. 15, 2014
Subsequent event | Dividend paid	'
Subsequent Events	'
Dividend paid (in dollars per share)	$0.22