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Investment in Hotel Properties
 6 Months Ended
Jun. 30, 2023
Property, Plant and Equipment [Abstract]  
Investment in Hotel Properties Investment in Hotel Properties
 
Investment in hotel properties consisted of the following (in thousands):
June 30, 2023December 31, 2022
Land and improvements$995,095 $992,609 
Buildings and improvements4,073,238 4,040,505 
Furniture, fixtures and equipment770,499 745,978 
5,838,832 5,779,092 
Accumulated depreciation(1,688,656)(1,598,764)
Investment in hotel properties, net$4,150,176 $4,180,328 
 
For the three and six months ended June 30, 2023, the Company recognized depreciation expense related to its investment in hotel properties of approximately $44.9 million and $89.9 million, respectively. For the three and six months ended June 30, 2022, the Company recognized depreciation expense related to its investment in hotel properties of approximately $46.8 million and $93.5 million, respectively.