Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2023

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

Schedule III - Real Estate and Accumulated Depreciation

December 31, 2023

(amounts in thousands)


			Initial Costs				Costs Capitalized Subsequent to Acquisition		Gross Amount at December 31, 2023
Description	Debt		Land & Improvements		Building & Improvements		Land, Building & Improvements		Land & Improvements		Buildings & Improvements		Total (1)		Accumulated Depreciation		Date Acquired	Depreciation Life
Marriott Denver South @ Park Meadows	$	—	$	5,385	$	39,488	$	4,414	$	5,383	$	43,904	$	49,287	$	19,493	2006	15 - 40 years
Marriott Louisville Downtown	—		—		89,541		25,286		92		114,735		114,827		47,296		2006	15 - 40 years
Marriott Chicago Midway	—		4,464		32,736		3,458		4,496		36,162		40,658		15,801		2006	15 - 40 years
Renaissance Boulder Flatiron Hotel	—		4,440		32,557		9,915		4,790		42,122		46,912		16,051		2006	15 - 40 years
Renaissance Fort Lauderdale West Hotel	—		4,842		35,517		9,049		4,886		44,522		49,408		17,729		2006	15 - 40 years
Courtyard Chicago Downtown Magnificent Mile	31,000		8,140		59,696		10,053		8,148		69,741		77,889		30,116		2006	15 - 40 years
Courtyard Indianapolis @ The Capitol	—		2,482		18,207		4,259		2,641		22,307		24,948		9,183		2006	15 - 40 years
Courtyard Midway Airport	—		2,172		15,927		2,897		2,211		18,785		20,996		8,980		2006	15 - 40 years
Courtyard Austin Downtown Convention Center	—		6,049		44,361		5,852		6,049		50,213		56,262		19,609		2007	15 - 40 years
Residence Inn Houston By The Galleria	—		2,665		19,549		3,344		2,686		22,872		25,558		10,406		2006	15 - 40 years
Residence Inn Indianapolis Downtown On The Canal	—		2,670		19,588		5,224		2,670		24,812		27,482		10,021		2006	15 - 40 years
Residence Inn Merrillville	—		595		4,372		1,431		622		5,776		6,398		2,566		2006	15 - 40 years
Residence Inn Louisville Downtown	—		1,815		13,308		3,367		1,822		16,668		18,490		6,442		2007	15 - 40 years
Residence Inn Austin Downtown Convention Center	—		3,767		27,626		4,706		3,804		32,295		36,099		12,285		2007	15 - 40 years
Fairfield Inn & Suites Denver Cherry Creek	—		1,203		8,823		2,020		1,207		10,839		12,046		4,758		2006	15 - 40 years
Fairfield Inn & Suites Key West	—		1,803		19,325		3,960		1,876		23,212		25,088		10,453		2006	15 - 40 years
Fairfield Inn & Suites Chicago Midway Airport	—		1,425		10,449		2,069		1,447		12,496		13,943		5,646		2006	15 - 40 years
Hampton Inn Chicago Midway Airport	—		2,747		20,143		3,104		2,793		23,201		25,994		10,432		2006	15 - 40 years
Hilton Garden Inn Chicago Midway Airport	—		2,978		21,842		1,744		3,006		23,558		26,564		10,461		2006	15 - 40 years
Sleep Inn Midway Airport	—		1,189		8,718		1,896		1,225		10,578		11,803		5,064		2006	15 - 40 years
Holiday Inn Express & Suites Midway Airport	—		1,874		13,742		3,219		1,925		16,910		18,835		7,289		2006	15 - 40 years
TGI Friday's Chicago Midway	—		829		6,139		1,081		860		7,189		8,049		3,071		2006	15 - 40 years
Hampton Inn Garden City	—		5,691		22,764		3,948		5,742		26,661		32,403		10,530		2007	15 - 40 years
Courtyard Houston By The Galleria	19,000		3,069		22,508		2,561		3,069		25,069		28,138		10,128		2007	15 - 40 years
Embassy Suites Los Angeles Downey	31,000		4,857		29,943		12,141		5,036		41,905		46,941		16,402		2008	15 - 40 years
Embassy Suites Tampa Downtown Convention Center	—		2,161		71,017		15,656		2,444		86,390		88,834		29,475		2010	15 - 40 years


		Initial Costs		Costs Capitalized Subsequent to Acquisition	Gross Amount at December 31, 2023
Description	Debt	Land & Improvements	Building & Improvements	Land, Building & Improvements	Land & Improvements	Buildings & Improvements	Total (1)	Accumulated Depreciation	Date Acquired	Depreciation Life
Fairfield Inn & Suites Washington DC Downtown	34,000	16,214	22,265	7,824	16,447	29,856	46,303	12,091	2010	15 - 40 years
Embassy Suites Fort Myers Estero	—	2,816	7,862	2,654	2,968	10,364	13,332	4,213	2010	15 - 40 years
Homewood Suites Washington DC Downtown	—	23,139	34,188	6,506	23,758	40,075	63,833	14,024	2010	15 - 40 years
Hotel Tonnelle New Orleans, a Tribute Portfolio Hotel	—	1,901	2,793	16,165	2,155	18,704	20,859	9,940	2010	15 - 40 years
Residence Inn National Harbor Washington DC	—	7,457	37,046	2,148	7,480	39,171	46,651	13,384	2010	15 - 40 years
Hilton Garden Inn New Orleans Convention Center	—	3,405	20,750	9,612	3,509	30,258	33,767	11,452	2010	15 - 40 years
Hilton Garden Inn Los Angeles Hollywood	—	5,303	19,136	10,933	5,699	29,673	35,372	12,059	2010	15 - 40 years
Renaissance Pittsburgh Hotel	34,000	3,274	39,934	11,484	3,397	51,295	54,692	17,675	2011	15 - 40 years
Courtyard Atlanta Buckhead	—	2,860	21,668	4,217	2,875	25,870	28,745	9,248	2011	15 - 40 years
Embassy Suites West Palm Beach Central	—	3,656	9,614	10,036	3,914	19,392	23,306	8,441	2011	15 - 40 years
Hilton Garden Inn Pittsburgh University Place	—	1,975	18,490	9,440	2,382	27,523	29,905	12,045	2011	15 - 40 years
Courtyard Charleston Historic District	—	2,714	35,828	4,747	3,564	39,725	43,289	12,787	2011	15 - 40 years
Residence Inn Bethesda Downtown	—	8,154	52,749	8,529	8,761	60,671	69,432	18,954	2012	15 - 40 years
Courtyard New York Manhattan Upper East Side	—	20,655	60,222	9,020	21,282	68,615	89,897	21,668	2012	15 - 40 years
Hilton Garden Inn San Francisco Oakland Bay Bridge	—	11,903	22,757	17,725	12,242	40,143	52,385	11,210	2012	15 - 40 years
Embassy Suites Boston Waltham	—	6,268	56,024	5,358	6,402	61,248	67,650	18,782	2012	15 - 40 years
Courtyard Houston Downtown Convention Center	—	5,799	28,953	6,009	6,099	34,662	40,761	10,232	2013	15 - 40 years
Residence Inn Houston Downtown Convention Center	—	4,674	24,913	5,074	4,875	29,786	34,661	8,820	2013	15 - 40 years
SpringHill Suites Houston Downtown Convention Center	—	2,382	12,756	12,410	2,570	24,978	27,548	10,285	2013	15 - 40 years
Courtyard Waikiki Beach	—	557	79,033	14,395	803	93,182	93,985	27,026	2013	15 - 40 years
Courtyard San Francisco	—	11,277	18,198	29,082	11,291	47,266	58,557	17,434	2013	15 - 40 years
Residence Inn Atlanta Midtown Historic	—	2,812	6,044	7,858	2,982	13,732	16,714	4,670	2013	15 - 40 years
SpringHill Suites Portland Hillsboro	—	3,488	18,283	1,829	3,543	20,057	23,600	5,571	2013	15 - 40 years
Hilton Cabana Miami Beach	—	25,083	40,707	11,836	25,386	52,240	77,626	12,323	2014	15 - 40 years
Hyatt House Charlotte Center City	18,000	3,029	26,193	2,314	3,054	28,482	31,536	7,235	2014	15 - 40 years
Hyatt House Cypress Anaheim	16,000	3,995	9,164	3,984	4,354	12,789	17,143	4,660	2014	15 - 40 years
Hyatt House Emeryville San Francisco Bay Area	36,000	7,425	29,137	8,020	7,517	37,065	44,582	10,889	2014	15 - 40 years


		Initial Costs		Costs Capitalized Subsequent to Acquisition	Gross Amount at December 31, 2023
Description	Debt	Land & Improvements	Building & Improvements	Land, Building & Improvements	Land & Improvements	Buildings & Improvements	Total (1)	Accumulated Depreciation	Date Acquired	Depreciation Life
Hyatt House San Diego Sorrento Mesa	—	10,420	21,288	4,254	10,756	25,206	35,962	6,436	2014	15 - 40 years
Hyatt House San Jose Silicon Valley	—	6,820	31,682	3,256	6,975	34,783	41,758	8,579	2014	15 - 40 years
Hyatt House San Ramon	—	5,712	11,852	2,980	5,761	14,783	20,544	4,624	2014	15 - 40 years
Hyatt House Santa Clara	34,000	8,044	27,703	3,305	8,052	31,000	39,052	8,418	2014	15 - 40 years
Hyatt Centric The Woodlands	—	5,950	16,882	2,828	5,977	19,683	25,660	4,812	2014	15 - 40 years
Hyatt Place Fremont Silicon Valley	—	6,209	13,730	1,823	6,297	15,465	21,762	4,437	2014	15 - 40 years
Hyatt Place Madison Downtown	13,000	6,701	25,478	1,596	6,709	27,066	33,775	6,651	2014	15 - 40 years
Embassy Suites Irvine Orange County	—	15,062	33,048	9,264	15,243	42,131	57,374	12,307	2014	15 - 40 years
Courtyard Portland City Center	—	8,019	53,024	1,670	8,021	54,692	62,713	13,524	2014	15 - 40 years
Hyatt Atlanta Midtown	—	3,737	41,731	1,757	3,740	43,485	47,225	10,510	2014	15 - 40 years
DoubleTree Grand Key Resort	—	48,192	27,770	9,468	48,396	37,034	85,430	10,629	2014	15 - 40 years
Hyatt Place Washington DC Downtown K Street	—	10,763	55,225	2,133	10,763	57,358	68,121	12,475	2015	15 - 40 years
Homewood Suites Seattle Lynnwood	19,000	3,933	30,949	416	4,013	31,285	35,298	6,908	2015	15 - 40 years
Residence Inn Palo Alto Los Altos	—	16,996	45,786	1,215	17,137	46,860	63,997	10,522	2015	15 - 40 years
DoubleTree Suites by Hilton Austin	—	7,072	50,827	5,086	7,402	55,583	62,985	8,568	2017	15 - 40 years
DoubleTree Suites by Hilton Orlando - Lake Buena Vista	—	896	44,508	7,605	1,010	51,999	53,009	7,980	2017	15 - 40 years
Embassy Suites Atlanta - Buckhead	—	31,279	46,015	18,464	31,544	64,214	95,758	10,963	2017	15 - 40 years
Embassy Suites Birmingham	—	10,495	33,568	1,013	10,512	34,564	45,076	5,832	2017	15 - 40 years
Embassy Suites Dallas - Love Field	25,000	6,408	34,694	2,670	6,418	37,354	43,772	6,043	2017	15 - 40 years
Embassy Suites Deerfield Beach - Resort & Spa	—	7,527	56,128	16,351	7,958	72,048	80,006	10,795	2017	15 - 40 years
Embassy Suites Fort Lauderdale 17th Street	—	30,933	54,592	5,547	31,320	59,752	91,072	10,262	2017	15 - 40 years
Embassy Suites Los Angeles - International Airport South	50,000	13,110	94,733	13,394	14,130	107,107	121,237	16,058	2017	15 - 40 years
Embassy Suites Miami - International Airport	—	14,765	18,099	8,746	15,107	26,503	41,610	4,530	2017	15 - 40 years
Embassy Suites Milpitas Silicon Valley	—	43,157	26,399	13,553	43,370	39,739	83,109	8,248	2017	15 - 40 years
Embassy Suites Minneapolis - Airport	—	7,248	41,202	17,814	9,676	56,588	66,264	12,361	2017	15 - 40 years
Embassy Suites Orlando - International Drive South/Convention Center	—	4,743	37,687	1,857	5,031	39,256	44,287	6,667	2017	15 - 40 years
Embassy Suites Phoenix - Biltmore	21,000	24,680	24,487	9,441	24,784	33,824	58,608	5,377	2017	15 - 40 years
Embassy Suites San Francisco Airport - South San Francisco	—	39,616	55,163	16,427	39,728	71,478	111,206	12,977	2017	15 - 40 years
Embassy Suites San Francisco Airport - Waterfront	—	3,698	85,270	4,644	4,331	89,281	93,612	16,092	2017	15 - 40 years


			Initial Costs				Costs Capitalized Subsequent to Acquisition		Gross Amount at December 31, 2023
Description	Debt		Land & Improvements		Building & Improvements		Land, Building & Improvements		Land & Improvements		Buildings & Improvements		Total (1)		Accumulated Depreciation		Date Acquired	Depreciation Life
Zachari Dunes on Mandalay Beach, Curio Collection by Hilton	—		35,769		53,280		31,339		37,031		83,357		120,388		12,839		2017	15 - 40 years
DoubleTree by Hilton Houston Medical Center Hotel & Suites	—		7,776		43,475		7,060		7,995		50,316		58,311		7,308		2017	15 - 40 years
Mills House Charleston, Curio Collection by Hilton	—		9,599		68,932		12,221		10,744		80,008		90,752		12,168		2017	15 - 40 years
San Francisco Marriott Union Square	—		46,773		107,841		13,395		46,882		121,127		168,009		21,183		2017	15 - 40 years
The Knickerbocker New York	—		113,613		119,453		4,546		114,987		122,625		237,612		19,438		2017	15 - 40 years
The Pierside Santa Monica	—		27,054		45,866		15,838		27,354		61,404		88,758		8,469		2017	15 - 40 years
Wyndham Boston Beacon Hill	—		174		51,934		2,000		178		53,930		54,108		30,418		2017	6 years
Wyndham New Orleans - French Quarter	—		300		72,686		2,066		300		74,752		75,052		11,966		2017	15 - 40 years
Wyndham Philadelphia Historic District	—		8,367		51,914		1,263		8,609		52,935		61,544		8,543		2017	15 - 40 years
Wyndham Pittsburgh University Center	—		154		31,625		1,756		185		33,350		33,535		5,173		2017	15 - 40 years
Wyndham San Diego Bayside	—		989		29,440		7,234		1,370		36,293		37,663		17,274		2017	7 years
AC Hotel Boston Downtown	—		26,560		53,354		166		26,560		53,520		80,080		3,174		2021	15 - 40 years
Hampton Inn and Suites Atlanta Midtown	—		5,990		48,321		33		5,993		48,351		54,344		2,933		2021	15 - 40 years
Moxy Denver Cherry Creek	26,833		—		48,725		85		—		48,810		48,810		2,542		2021	15 - 40 years
The Bankers Alley Hotel, a Tapestry Collection by Hilton	—		19,807		36,223		366		19,829		36,567		56,396		1,366		2022	15 - 40 years
	$	407,833	$	976,637	$	3,465,182	$	673,808	$	998,417	$	4,117,210	$	5,115,627	$	1,105,184

(1) The aggregate cost of real estate for federal income tax purposes was approximately $5.0 billion at December 31, 2023.

The change in the total cost of the hotel properties is as follows:


	2023		2022		2021
Reconciliation of Land and Buildings and Improvements
Balance at beginning of period	$	5,033,114	$	4,977,563	$	5,174,309
Add: Acquisitions	—		56,030		182,950
Add: Improvements	82,513		68,012		34,511
Less: Sale of hotel properties	—		(68,491)		(269,362)
Less: Impairment losses	—		—		(144,845)

Balance at end of period	$	5,115,627	$	5,033,114	$	4,977,563

The change in the accumulated depreciation of the real estate assets is as follows:


	2023		2022		2021
Reconciliation of Accumulated Depreciation
Balance at beginning of period	$	(975,029)	$	(870,741)	$	(827,808)
Add: Depreciation for the period	(130,155)		(125,203)		(126,759)
Less: Sale of hotel properties	—		20,915		83,826

Balance at end of period	$	(1,105,184)	$	(975,029)	$	(870,741)