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Property and Equipment | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
Property and Equipment | Property and Equipment Property and equipment consists of the following (in thousands):
| December 31,
| 2023 |  | 2022
Land | $ | 590,824 |  |  | $ | 577,861 |
Land improvements | 7,994 |  |  | 7,994 |
Buildings | 2,878,508 |  |  | 2,798,654 |
Furniture, fixtures and equipment | 561,484 |  |  | 525,901 |
Construction in progress | 21,175 |  |  | 32,422 |
| 4,059,985 |  |  | 3,942,832 |
Less: accumulated depreciation | (1,304,790) |  |  | (1,194,356) |
| $ | 2,755,195 |  |  | $ | 2,748,476 |
As of December 31, 2023 and 2022, we had accrued capital expenditures of $4.7 million and $8.0 million, respectively. During the year ended December 31, 2023, we recorded impairment losses of $0.9 million related to the write-off of construction in progress that was determined not to be recoverable. During the year ended December 31, 2022, we recorded an impairment loss of $2.8 million on the right-to-manage intangible asset related to the rental management agreements at Tranquility Bay Beachfront Resort upon our acquisition of four third-party owned units. During the year ended December 31, 2021, we recorded impairment losses of $126.7 million related to two hotels we sold during the year ended December 31, 2021 (as discussed in Note 4).

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
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