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Acquisition of Hotel Property (Tables)
 9 Months Ended
Sep. 30, 2022
Business Combinations [Abstract]  
Schedule of Property Acquisitions
During the nine months ended September 30, 2022, the Company acquired a 100% interest in the following property:
PropertyLocationAcquisition DateManagement CompanyRoomsPurchase Price (in thousands)
21c Hotel NashvilleNashville, TNJuly 29, 2022Accor Hotels124 $59,000 
Schedule of Asset Acquisition, Property Allocation Cost The allocation of the costs for the property acquired was as follows (in thousands):
September 30, 2022
Land and improvements$19,777 
Buildings and improvements36,169 
Furniture, fixtures and equipment4,075 
Total purchase price $60,021 
During the nine months ended September 30, 2021, the Company acquired a 100% interest in the following property:
PropertyLocationAcquisition DateManagement CompanyRoomsPurchase Price (in thousands)
Hampton Inn and Suites Atlanta Midtown Atlanta, GAAugust 5, 2021Aimbridge Hospitality186 $58,000 

The acquisition of the Hampton Inn and Suites Atlanta Midtown was accounted for as an asset acquisition, whereby approximately $0.8 million of transactions costs were capitalized as part of the cost of the acquisition. The allocation of the costs for the property acquired was as follows (in thousands):
September 30, 2021
Land and improvements$5,983 
Buildings and improvements48,267 
Furniture, fixtures and equipment4,563 
Total purchase price $58,813