Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2021

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation

As of December 31, 2021 (in thousands)


				Costs
		Initial Cost		Capitalized	Gross Amount at End of Year
			Building and	Subsequent to		Building and		Accumulated	Net Book	Year of	Depreciation
Description	Encumbrances	Land	Improvements	Acquisition	Land	Improvements	Total	Depreciation	Value	Acquisition	Life
Atlanta Marriott Alpharetta	—	3,623	33,503	4,247	3,623	37,750	41,373	(14,501)	26,872	2005	40 Years
Bethesda Marriott Suites	—	—	45,656	8,432	—	54,088	54,088	(20,872)	33,216	2004	40 Years
Bourbon Orleans Hotel		20,644	60,969	23	20,645	60,991	81,636	(1,357)	80,279	2021	40 Years
Cavallo Point, The Lodge at Golden Gate	—	—	123,100	3,827	—	126,927	126,927	(13,405)	113,522	2018	40 Years
Chicago Marriott Downtown, Magnificent Mile	—	36,900	347,921	97,273	36,900	445,194	482,094	(155,082)	327,012	2006	40 Years
The Gwen Hotel	—	31,650	76,961	22,904	31,650	99,865	131,515	(32,649)	98,866	2006	40 Years
Courtyard Denver Downtown	—	9,400	36,180	6,312	9,400	42,492	51,892	(10,593)	41,299	2011	40 Years
Courtyard New York Manhattan/Fifth Avenue	—	—	34,685	5,363	—	40,048	40,048	(16,610)	23,438	2004	40 Years
Courtyard New York Manhattan/Midtown East	(77,882)	16,500	54,812	7,512	16,500	62,324	78,824	(25,039)	53,785	2004	40 Years
Havana Cabana Key West	—	32,888	13,371	5,629	32,888	19,000	51,888	(3,216)	48,672	2014	40 Years
Henderson Beach Resort		10,118	93,176	—	10,118	93,176	103,294	—	103,294	2021	40 Years
Henderson Park Inn		8,395	17,462	11	8,395	17,473	25,868	(365)	25,503	2021	40 Years
Hilton Boston Downtown/Faneuil Hall	—	23,262	128,628	15,807	23,262	144,435	167,697	(33,073)	134,624	2012	40 Years
Hilton Burlington Lake Champlain	—	9,197	40,644	9,237	9,197	49,881	59,078	(10,580)	48,498	2012	40 Years
Hilton Garden Inn New York/Times Square Central	—	60,300	88,896	1,116	60,300	90,012	150,312	(16,569)	133,743	2014	40 Years
Hotel Emblem San Francisco	—	7,856	21,085	8,741	7,856	29,826	37,682	(5,460)	32,222	2012	40 Years
Hotel Palomar Phoenix	—	—	59,703	1	—	59,704	59,704	(5,796)	53,908	2018	40 Years
The Hythe Vail, a Luxury Collection Resort	—	5,800	52,463	34,121	5,800	86,584	92,384	(24,874)	67,510	2005	40 Years
JW Marriott Denver Cherry Creek	(58,789)	9,200	63,183	11,252	9,200	74,435	83,635	(17,760)	65,875	2011	40 Years
Kimpton Shorebreak Resort	—	19,908	37,525	4,805	20,423	41,815	62,238	(7,109)	55,129	2015	40 Years
Margaritaville Beach House Key West	—	49,592	42,958	16,451	49,592	59,409	109,001	(8,321)	100,680	2015	40 Years
The Landing Lake Tahoe Resort & Spa	—	14,816	24,351	1,174	14,816	25,525	40,341	(2,547)	37,794	2018	40 Years
L'Auberge de Sedona	—	39,384	22,204	4,363	39,384	26,567	65,951	(4,516)	61,435	2017	40 Years
Orchards Inn Sedona	—	9,726	10,180	322	9,726	10,502	20,228	(1,362)	18,866	2017	40 Years
Renaissance Charleston Historic District Hotel	—	5,900	32,511	10,123	5,900	42,634	48,534	(10,357)	38,177	2010	40 Years
Salt Lake City Marriott Downtown at City Creek	(43,570)	—	45,815	10,232	—	56,047	56,047	(21,242)	34,805	2004	40 Years
The Lodge at Sonoma Resort	(25,542)	3,951	22,720	20,943	3,951	43,663	47,614	(15,546)	32,068	2004	40 Years
Westin Boston Waterfront	(182,755)	—	273,696	35,907	—	309,603	309,603	(112,028)	197,575	2007	40 Years
Westin Fort Lauderdale Beach Resort	—	54,293	83,227	11,913	54,293	95,140	149,433	(16,418)	133,015	2014	40 Years
Westin San Diego Downtown	(58,600)	22,902	95,617	10,349	22,902	105,966	128,868	(24,634)	104,234	2012	40 Years
Westin Washington D.C City Center	(55,913)	24,579	122,229	13,526	24,579	135,755	160,334	(31,672)	128,662	2012	40 Years
Worthington Renaissance Fort Worth Hotel	(77,453)	15,500	63,428	24,759	15,500	88,187	103,687	(29,753)	73,934	2005	40 Years
Total	(580,504)	546,284	2,268,859	406,675	546,800	2,675,018	3,221,818	(693,306)	2,528,512

Notes:

A) The change in total cost of properties for the fiscal years ended December 31, 2021, 2020 and 2019 is as follows (in thousands):


Balance at December 31, 2018	$	3,308,009
Additions:
Acquisitions	—
Capital expenditures	69,270
Deductions:
Dispositions and other	—
Balance at December 31, 2019	3,377,279
Additions:
Acquisitions	—
Capital expenditures	34,512
Deductions:
Impairment losses	(61,310)
Dispositions and other	—
Balance at December 31, 2020	3,350,481
Additions:
Acquisitions	210,764
Capital expenditures	41,482
Deductions:
Impairment losses	(175,551)
Dispositions and other	(205,358)
Balance at December 31, 2021	$	3,221,818

B) The change in accumulated depreciation of real estate assets for the fiscal years ended December 31, 2021, 2020 and 2019 is as follows (in thousands):


Balance at December 31, 2018	$	556,868
Depreciation and amortization	68,543
Dispositions and other	—
Balance at December 31, 2019	625,411
Depreciation and amortization	73,362
Impairment losses	(15,230)
Dispositions and other	—
Balance at December 31, 2020	683,543
Depreciation and amortization	70,765
Impairment losses	(61,002)
Dispositions and other	—
Balance at December 31, 2021	$	693,306

C) The aggregate cost of properties for Federal income tax purposes (in thousands) is approximately $3,115,515 as of December 31, 2021.