Property and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

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).