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Investment in Hotel Properties
 6 Months Ended
Jun. 30, 2025
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, 2025December 31, 2024
Land and improvements$1,130,004 $1,130,005 
Buildings and improvements4,229,409 4,210,515 
Furniture, fixtures and equipment873,433 852,993 
6,232,846 6,193,513 
Accumulated depreciation(2,018,788)(1,942,989)
Investment in hotel properties, net$4,214,058 $4,250,524 
 
For the three and six months ended June 30, 2025, the Company recognized depreciation expense related to its investment in hotel properties of approximately $46.2 million and $91.9 million, respectively. For the three and six months ended June 30, 2024, the Company recognized depreciation expense related to its investment in hotel properties of approximately $44.4 million and $89.1 million, respectively.