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Investment in Hotel Properties
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Investment in Hotel Properties Investment in Hotel Properties
 
Investment in hotel properties consisted of the following (in thousands):
December 31, 2024December 31, 2023
Land and improvements$1,130,005 $998,417 
Buildings and improvements4,210,515 4,117,210 
Furniture, fixtures and equipment852,993 798,410 
 6,193,513 5,914,037 
Accumulated depreciation(1,942,989)(1,777,821)
Investment in hotel properties, net$4,250,524 $4,136,216 
 
For the years ended December 31, 2024, 2023 and 2022, the Company recognized depreciation expense related to its investment in hotel properties of approximately $179.3 million, $179.1 million and $184.4 million, respectively.

There were no impairment losses recorded during any of the years ended December 31, 2024, 2023, or 2022.