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REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2021

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

REAL ESTATE AND ACCUMULATED DEPRECIATION

REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2021

(dollars in thousands)

Column A												Column B						Column C												Column D												Column E																		Column F						Column G						Column H						Column I
																		Initial Cost												Costs Capitalized Since Acquisition												Gross Carrying Amount At Close of Period
Hotel Property						Location						Encumbrances						Land						FF&E, Buildings and Improvements						Land						FF&E, Buildings and Improvements						Land						FF&E, Buildings and Improvements						Total						Accumulated Depreciation						Construction Date						Acquisition Date						Income Statement
Embassy Suites						Austin, TX						$	23,363					$	1,204					$	9,388					$	193					$	5,081					$	1,397					$	14,469					$	15,866					$	8,324					08/1998												(1), (2), (3)
Embassy Suites						Dallas, TX						15,465						1,878						8,907						238						4,894						2,116						13,801						15,917						8,250						12/1998												(1), (2), (3)
Embassy Suites						Herndon, VA						25,120						1,303						9,836						277						5,781						1,580						15,617						17,197						9,524						12/1998												(1), (2), (3)
Embassy Suites						Las Vegas, NV						30,282						3,307						16,952						397						7,866						3,704						24,818						28,522						15,284						05/1999												(1), (2), (3)
Embassy Suites						Flagstaff, AZ						18,400						1,267						4,278						—						2,206						1,267						6,484						7,751						3,536												10/2003						(1), (2), (3)
Embassy Suites						Houston, TX						17,810						1,799						10,404						—						3,710						1,799						14,114						15,913						6,736												03/2005						(1), (2), (3)
Embassy Suites						West Palm Beach, FL						19,802						3,277						13,949						—						5,139						3,277						19,088						22,365						9,768												03/2005						(1), (2), (3)
Embassy Suites						Philadelphia, PA						28,698						5,791						34,819						—						15,098						5,791						49,917						55,708						25,588												12/2006						(1), (2), (3)
Embassy Suites						Walnut Creek, CA						49,920						7,452						25,334						—						19,698						7,452						45,032						52,484						23,678												12/2006						(1), (2), (3)
Embassy Suites						Arlington, VA						46,355						36,065						41,588						—						16,383						36,065						57,971						94,036						25,594												04/2007						(1), (2), (3)
Embassy Suites						Portland, OR						88,435						11,110						60,048						—						4,873						11,110						64,921						76,031						25,258												04/2007						(1), (2), (3)
Embassy Suites						Santa Clara, CA						67,440						8,948						46,239						—						15,515						8,948						61,754						70,702						28,774												04/2007						(1), (2), (3)
Embassy Suites						Orlando, FL						22,526						5,674						21,593						—						7,568						5,674						29,161						34,835						12,898												04/2007						(1), (2), (3)
Hilton Garden Inn						Jacksonville, FL						11,755						1,751						9,164						—						5,149						1,751						14,313						16,064						8,208												11/2003						(1), (2), (3)
Hilton Garden Inn						Austin, TX						66,525						7,605						48,725						—						992						7,605						49,717						57,322						10,993												03/2015						(1), (2), (3)
Hilton Garden Inn						Baltimore, MD						16,284						4,027						20,199						—						5,910						4,027						26,109						30,136						7,312												03/2015						(1), (2), (3)
Hilton Garden Inn						Virginia Beach, VA						32,269						4,101						26,329						—						(171)						4,101						26,158						30,259						4,927												03/2015						(1), (2), (3)
Hilton						Ft. Worth, TX						62,000						4,538						13,922						—						19,926						4,539						33,848						38,387						16,772												03/2005						(1), (2), (3)
Hilton						Houston, TX						19,949						2,200						13,247						—						6,969						2,200						20,216						22,416						10,217												03/2005						(1), (2), (3)
Hilton						St. Petersburg, FL						48,730						2,991						13,907						(1,130)						17,416						1,861						31,323						33,184						14,646												03/2005						(1), (2), (3)
Hilton						Santa Fe, NM						26,400						7,004						10,689						—						4,641						7,004						15,330						22,334						8,084												12/2006						(1), (2), (3)
Hilton						Bloomington, MN						46,800						5,685						59,139						—						7,210						5,685						66,349						72,034						28,081												04/2007						(1), (2), (3)
Hilton						Costa Mesa, CA						65,672						12,917						91,791						—						9,942						12,917						101,733						114,650						41,091												04/2007						(1), (2), (3)
Hilton						Boston, MA						98,000						62,555						134,407						—						8,774						62,555						143,181						205,736						30,993												03/2015						(1), (2), (3)
Hilton						Parsippany, NJ						38,227						7,293						58,098						—						3,573						7,293						61,671						68,964						16,514												03/2015						(1), (2), (3)
Hilton						Tampa, FL						27,553						5,206						21,186						—						10,159						5,206						31,345						36,551						13,015												03/2015						(1), (2), (3)
Hilton						Alexandria, VA						73,450						14,459						96,602						—						927						14,459						97,529						111,988						9,671												06/2018						(1), (2), (3)
Hilton						Santa Cruz, CA						23,883						9,399						38,129						—						(1,326)						9,399						36,803						46,202						3,287												02/2019						(1), (2), (3)
Hampton Inn						Lawrenceville, GA						5,256						697						3,808						—						1,498						697						5,306						6,003						2,633												11/2003						(1), (2), (3)
Hampton Inn						Evansville, IN						11,118						1,301						5,034						—						1,142						1,301						6,176						7,477						2,921												09/2004						(1), (2), (3)
Hampton Inn						Parsippany, NJ						18,716						3,268						24,306						—						324						3,268						24,630						27,898						5,260												03/2015						(1), (2), (3)
Hampton Inn						Buford, GA						8,371						1,168						5,338						—						4,289						1,168						9,627						10,795						4,687												07/2004						(1), (2), (3)
Marriott						Beverly Hills, CA						123,120						6,510						22,061						—						15,211						6,510						37,272						43,782						22,489												03/2005						(1), (2), (3)
Marriott						Durham, NC						26,800						1,794						25,056						—						16,295						1,794						41,351						43,145						20,510												02/2006						(1), (2), (3)

Column A												Column B						Column C												Column D												Column E																		Column F						Column G						Column H						Column I
																		Initial Cost												Costs Capitalized Since Acquisition												Gross Carrying Amount At Close of Period
Hotel Property						Location						Encumbrances						Land						FF&E, Buildings and Improvements						Land						FF&E, Buildings and Improvements						Land						FF&E, Buildings and Improvements						Total						Accumulated Depreciation						Construction Date						Acquisition Date						Income Statement
Marriott						Arlington, VA						84,000						20,637						101,376						—						40,765						20,637						142,141						162,778						68,930												07/2006						(1), (2), (3)
Marriott						Bridgewater, NJ						71,200						5,059						89,268						—						19,689						5,059						108,957						114,016						42,679												04/2007						(1), (2), (3)
Marriott						Dallas, TX						30,400						2,701						30,893						—						7,083						2,701						37,976						40,677						16,862												04/2007						(1), (2), (3)
Marriott						Fremont, CA						58,402						5,800						44,200						—						10,274						5,800						54,474						60,274						11,907												08/2014						(1), (2), (3)
Marriott						Memphis, TN						27,042						6,210						37,284						—						(3,191)						6,210						34,093						40,303						6,526												02/2015						(1), (2), (3)
Marriott						Irving, TX						66,922						8,330						82,272						—						33,404						8,330						115,676						124,006						34,303												03/2015						(1), (2), (3)
Marriott						Omaha, NE						15,911						6,641						49,887						—						8,267						6,641						58,154						64,795						16,432												03/2015						(1), (2), (3)
Marriott						Sugarland, TX						62,553						9,047						84,043						—						(261)						9,047						83,782						92,829						15,955												03/2015						(1), (2), (3)
SpringHill Suites by Marriott						Baltimore, MD						13,600						2,502						13,206						—						2,558						2,502						15,764						18,266						7,749												05/2004						(1), (2), (3)
SpringHill Suites by Marriott						Kennesaw, GA						6,404						1,106						5,021						—						3,395						1,106						8,416						9,522						4,732												07/2004						(1), (2), (3)
SpringHill Suites by Marriott						Buford, GA						9,226						1,132						6,089						—						806						1,132						6,895						8,027						3,158												07/2004						(1), (2), (3)
SpringHill Suites by Marriott						Manhattan Beach, CA						28,560						5,726						21,187						—						1,122						5,726						22,309						28,035						8,615												04/2007						(1), (2), (3)
SpringHill Suites by Marriott						Plymouth Meeting, PA						20,800						3,210						24,578						—						1,513						3,210						26,091						29,301						10,092												04/2007						(1), (2), (3)
Fairfield Inn by Marriott						Kennesaw, GA						5,023						840						4,359						(21)						2,506						819						6,865						7,684						3,148												07/2004						(1), (2), (3)
Courtyard by Marriott						Bloomington, IN						14,248						900						10,741						—						1,480						900						12,221						13,121						5,601												09/2004						(1), (2), (3)
Courtyard by Marriott - Tremont						Boston, MA						102,865						24,494						85,246						—						6,719						24,494						91,965						116,459						22,238												03/2015						(1), (2), (3)
Courtyard by Marriott						Columbus, IN						8,160						673						4,804						—						1,696						673						6,500						7,173						3,433												09/2004						(1), (2), (3)
Courtyard by Marriott						Denver, CO						33,511						9,342						29,656						—						3,388						9,342						33,044						42,386						9,277												03/2015						(1), (2), (3)
Courtyard by Marriott						Gaithersburg, MD						28,695						5,128						30,522						—						4,225						5,128						34,747						39,875						9,086												03/2015						(1), (2), (3)
Courtyard by Marriott						Crystal City, VA						42,538						5,411						38,610						—						13,153						5,411						51,763						57,174						25,096												06/2005						(1), (2), (3)
Courtyard by Marriott						Overland Park, KS						8,762						1,868						14,030						—						2,416						1,868						16,446						18,314						7,612												06/2005						(1), (2), (3)
Courtyard by Marriott						Foothill Ranch, CA						21,735						2,447						16,005						—						1,646						2,447						17,651						20,098						7,798												06/2005						(1), (2), (3)
Courtyard by Marriott						Alpharetta, GA						19,665						2,244						12,345						—						1,917						2,244						14,262						16,506						6,403												06/2005						(1), (2), (3)
Courtyard by Marriott						Oakland, CA						28,240						5,112						19,429						—						1,831						5,112						21,260						26,372						8,490												04/2007						(1), (2), (3)
Courtyard by Marriott						Scottsdale, AZ						23,600						3,700						22,134						—						3,151						3,700						25,285						28,985						10,036												04/2007						(1), (2), (3)
Courtyard by Marriott						Plano, TX						18,160						2,115						22,360						—						1,471						2,115						23,831						25,946						9,072												04/2007						(1), (2), (3)
Courtyard by Marriott						Newark, CA						34,960						2,863						10,723						—						1,469						2,863						12,192						15,055						4,835												04/2007						(1), (2), (3)
Courtyard by Marriott						Manchester, CT						6,150						1,301						7,430						—						1,247						1,301						8,677						9,978						3,822												04/2007						(1), (2), (3)
Courtyard by Marriott						Basking Ridge, NJ						41,600						5,419						45,304						—						4,032						5,419						49,336						54,755						19,816												04/2007						(1), (2), (3)
Marriott Residence Inn						Evansville, IN						7,830						961						5,972						—						1,088						960						7,060						8,020						3,394												09/2004						(1), (2), (3)
Marriott Residence Inn						Orlando, FL						25,595						6,554						40,539						—						17,733						6,554						58,272						64,826						28,386												06/2005						(1), (2), (3)
Marriott Residence Inn						Falls Church, VA						26,151						2,752						34,979						—						4,099						2,752						39,078						41,830						16,983												06/2005						(1), (2), (3)
Marriott Residence Inn						San Diego, CA						29,281						3,156						29,514						—						2,026						3,156						31,540						34,696						13,629												06/2005						(1), (2), (3)
Marriott Residence Inn						Salt Lake City, UT						15,741						1,897						16,357						—						2,188						1,897						18,545						20,442						8,006												06/2005						(1), (2), (3)
Marriott Residence Inn						Las Vegas, NV						38,160						18,177						39,568						(6,184)						(15,264)						11,993						24,304						36,297						6,874												04/2007						(1), (2), (3), (4)
Marriott Residence Inn						Phoenix, AZ						23,680						4,100						23,187						—						2,648						4,100						25,835						29,935						10,196												04/2007						(1), (2), (3)
Marriott Residence Inn						Plano, TX						14,160						2,045						16,869						—						1,178						2,045						18,047						20,092						7,023												04/2007						(1), (2), (3)
Marriott Residence Inn						Newark, CA						37,760						3,272						11,706						—						2,115						3,272						13,821						17,093						5,227												04/2007						(1), (2), (3)
Marriott Residence Inn						Manchester, CT						6,492						1,462						8,306						—						1,974						1,462						10,280						11,742						4,799												04/2007						(1), (2), (3)

Column A												Column B						Column C												Column D												Column E																		Column F						Column G						Column H						Column I
																		Initial Cost												Costs Capitalized Since Acquisition												Gross Carrying Amount At Close of Period
Hotel Property						Location						Encumbrances						Land						FF&E, Buildings and Improvements						Land						FF&E, Buildings and Improvements						Land						FF&E, Buildings and Improvements						Total						Accumulated Depreciation						Construction Date						Acquisition Date						Income Statement
Marriott Residence Inn						Jacksonville, FL						9,473						1,997						16,084						—						9,660						1,997						25,744						27,741						12,545												05/2007						(1), (2), (3)
Tribute Portfolio						Santa Fe, NM						25,000						8,094						42,058						—						1,194						8,094						43,252						51,346						4,513												10/2018						(1), (2), (3)
TownePlace Suites by Marriott						Manhattan Beach, CA						23,680						4,805						17,543						—						2,650						4,805						20,193						24,998						8,434												04/2007						(1), (2), (3)
Ritz-Carlton						Atlanta, GA						98,298						2,477						80,139						—						31,432						2,477						111,571						114,048						34,812												03/2015						(1), (2), (3)
One Ocean						Atlantic Beach, FL						57,600						5,815						14,817						—						25,240						5,815						40,057						45,872						28,213												04/2004						(1), (2), (3)
Renaissance						Nashville, TN						207,000						20,671						158,260						—						30,743						20,671						189,003						209,674						47,167												03/2015						(1), (2), (3)
Renaissance						Palm Springs, CA						51,730						—						74,112						—						12,170						—						86,282						86,282						24,436												03/2015						(1), (2), (3)
Sheraton Hotel						Ann Arbor, MI						33,200						4,158						35,042						—						6,216						4,158						41,258						45,416						9,300												06/2015						(1), (2), (3)
Sheraton Hotel						Langhorne, PA						12,880						2,037						12,424						—						5,207						2,037						17,631						19,668						9,078												07/2004						(1), (2), (3)
Sheraton Hotel						Minneapolis, MN						20,933						2,953						14,280						—						3,679						2,953						17,959						20,912						9,021												03/2005						(1), (2), (3)
Sheraton Hotel						Indianapolis, IN						59,278						3,100						22,041						—						14,914						3,100						36,955						40,055						19,788												03/2005						(1), (2), (3)
Sheraton Hotel						Anchorage, AK						26,331						4,023						39,363						—						18,563						4,023						57,926						61,949						28,968												12/2006						(1), (2), (3)
Sheraton Hotel						San Diego, CA						36,160						7,294						36,382						—						5,131						7,294						41,513						48,807						17,864												12/2006						(1), (2), (3)
Hyatt Regency						Coral Gables, FL						63,200						4,805						50,820						—						23,255						4,805						74,075						78,880						33,610												04/2007						(1), (2), (3)
Hyatt Regency						Hauppauge, NY						36,241						6,284						35,669						—						(784)						6,284						34,885						41,169						9,946												03/2015						(1), (2), (3)
Hyatt Regency						Savannah, GA						69,504						14,041						72,721						—						10,135						14,041						82,856						96,897						21,388												03/2015						(1), (2), (3)
Crown Plaza						Key West, FL						64,982						—						27,514						—						6,163						—						33,677						33,677						16,466												03/2005						(1), (2), (3)
Annapolis Historic Inn						Annapolis, MD						18,658						3,028						7,833						—						4,309						3,028						12,142						15,170						6,529												03/2005						(1), (2), (3)
Lakeway Resort & Spa						Austin, TX						19,527						4,541						28,940						—						2,374						4,541						31,314						35,855						9,660												02/2015						(1), (2), (3)
Silversmith						Chicago, IL						27,851						4,782						22,398						—						(1,889)						4,782						20,509						25,291						5,037												03/2015						(1), (2), (3)
The Churchill						Washington, DC						41,280						25,898						32,304						—						9,059						25,897						41,363						67,260						12,410												03/2015						(1), (2), (3)
The Melrose						Washington, DC						75,759						29,277						62,507						—						(806)						29,277						61,701						90,978						11,986												03/2015						(1), (2), (3)
Le Pavillon						New Orleans, LA						37,000						10,933						51,549						(2,601)						11,767						8,332						63,316						71,648						16,811												06/2015						(1), (2), (3)
The Ashton						Ft. Worth, TX						8,881						800						7,187						—						924						800						8,111						8,911						1,943												07/2014						(1), (2), (3)
Westin						Princeton, NJ						33,000						6,475						52,195						—						7,408						6,475						59,603						66,078						15,696												03/2015						(1), (2), (3)
W						Atlanta, GA						48,800						2,353						54,383						—						3,996						2,353						58,379						60,732						12,976												07/2015						(1), (2), (3)
Atlanta Hotel Indigo						Atlanta, GA						16,100						3,230						23,713						—						4,325						3,230						28,038						31,268						6,749												10/2015						(1), (2), (3)
WorldQuest						Orlando, FL						—						1,432						9,870						(78)						1,009						1,355						10,879						12,234						3,354												03/2011						(1), (2), (3)
Total												$	3,684,622					$	637,181					$	3,336,619					$	(8,909)					$	698,262					$	628,272					$	4,034,881					$	4,663,153					$	1,432,443

_________________________

(1) Estimated useful life for buildings is 39 years.

(2) Estimated useful life for building improvements is 7.5 years.

(3) Estimated useful life for furniture and fixtures is 1.5 to 5 years.

(4) Amounts include impairment charges.

						Year Ended December 31,
						2021						2020						2019
Investment in Real Estate:
Beginning balance						$	4,798,605					$	5,444,259					$	5,287,463
Additions						40,789						35,712						409,603
Impairment/write-offs						(151,753)						(254,475)						(136,658)
Sales/disposals						(24,488)						(426,891)						(116,149)
Ending balance						$	4,663,153					$	4,798,605					$	5,444,259
Accumulated Depreciation:
Beginning balance						1,371,623						1,335,816						1,182,244
Depreciation expense						219,112						252,873						269,664
Impairment/write-offs						(151,753)						(162,754)						(103,038)
Sales/disposals						(6,539)						(54,312)						(13,054)
Ending balance						$	1,432,443					$	1,371,623					$	1,335,816
Investment in Real Estate, net						$	3,230,710					$	3,426,982					$	4,108,443

X

- References

No definition available.

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X

- Definition

The entire disclosure of real estate investments and associated accumulated depreciation for entities with a significant portion of their business acquiring and holding investment real estate.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 28

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 970
-SubTopic 360
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-28)
-URI http://asc.fasb.org/extlink&oid=120402810&loc=d3e638233-123024

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