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REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2022

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, 2022

(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 (6)
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						$	23,141					$	1,204					$	9,388					$	193					$	4,987					$	1,397					$	14,375					$	15,772					$	8,622					08/1998												(1), (2), (3)
Embassy Suites						Dallas, TX						15,317						1,878						8,907						238						5,824						2,116						14,731						16,847						8,640						12/1998												(1), (2), (3)
Embassy Suites						Herndon, VA						25,120						1,303						9,836						277						5,747						1,580						15,583						17,163						9,636						12/1998												(1), (2), (3)
Embassy Suites						Las Vegas, NV						29,993						3,307						16,952						397						6,606						3,704						23,558						27,262						15,106						05/1999												(1), (2), (3)
Embassy Suites						Flagstaff, AZ						18,400						1,267						4,278						—						2,750						1,267						7,028						8,295						3,001												10/2003						(1), (2), (3)
Embassy Suites						Houston, TX						17,640						1,799						10,404						—						3,856						1,799						14,260						16,059						7,238												03/2005						(1), (2), (3)
Embassy Suites						West Palm Beach, FL						19,613						3,277						13,949						—						4,111						3,277						18,060						21,337						8,283												03/2005						(1), (2), (3)
Embassy Suites						Philadelphia, PA						28,698						5,791						34,819						—						11,171						5,791						45,990						51,781						23,157												12/2006						(1), (2), (3)
Embassy Suites						Walnut Creek, CA						49,920						7,452						25,334						—						13,865						7,452						39,199						46,651						19,673												12/2006						(1), (2), (3)
Embassy Suites						Arlington, VA						46,355						36,065						41,588						—						16,267						36,065						57,855						93,920						27,872												04/2007						(1), (2), (3)
Embassy Suites						Portland, OR						88,435						11,110						60,048						—						5,564						11,110						65,612						76,722						26,738												04/2007						(1), (2), (3)
Embassy Suites						Santa Clara, CA						67,440						8,948						46,239						—						10,428						8,948						56,667						65,615						25,436												04/2007						(1), (2), (3)
Embassy Suites						Orlando, FL						22,526						5,674						21,593						—						6,549						5,674						28,142						33,816						12,782												04/2007						(1), (2), (3)
Hilton Garden Inn						Jacksonville, FL						11,644						1,751						9,164						—						2,518						1,751						11,682						13,433						6,101												11/2003						(1), (2), (3)
Hilton Garden Inn						Austin, TX						66,257						7,605						48,725						—						1,379						7,605						50,104						57,709						11,944												03/2015						(1), (2), (3)
Hilton Garden Inn						Baltimore, MD						16,218						4,027						20,199						—						5,902						4,027						26,101						30,128						8,819												03/2015						(1), (2), (3)
Hilton Garden Inn						Virginia Beach, VA						32,140						4,101						26,329						—						513						4,101						26,842						30,943						5,622												03/2015						(1), (2), (3)
Hilton						Ft. Worth, TX						62,000						4,538						13,922						—						19,109						4,539						33,031						37,570						17,504												03/2005						(1), (2), (3)
Hilton						Houston, TX						19,759						2,200						13,247						—						6,063						2,200						19,309						21,509						9,706												03/2005						(1), (2), (3)
Hilton						St. Petersburg, FL						48,264						2,991						13,907						(1,130)						14,321						1,861						28,228						30,089						12,850												03/2005						(1), (2), (3)
Hilton						Santa Fe, NM						26,400						7,004						10,689						—						4,135						7,004						14,824						21,828						7,470												12/2006						(1), (2), (3)
Hilton						Bloomington, MN						46,800						5,685						59,139						—						6,881						5,685						66,020						71,705						28,607												04/2007						(1), (2), (3)
Hilton						Costa Mesa, CA						65,672						12,917						91,791						—						9,602						12,917						101,393						114,310						42,990												04/2007						(1), (2), (3)
Hilton						Boston, MA						98,000						62,555						134,407						—						6,935						62,555						141,342						203,897						33,568												03/2015						(1), (2), (3)
Hilton						Parsippany, NJ						38,073						7,293						58,098						—						3,593						7,293						61,691						68,984						17,421												03/2015						(1), (2), (3)
Hilton						Tampa, FL						27,442						5,206						21,186						—						6,186						5,206						27,372						32,578						10,890												03/2015						(1), (2), (3)
Hilton						Alexandria, VA						73,450						14,459						96,602						—						1,710						14,459						98,312						112,771						12,629												06/2018						(1), (2), (3)
Hilton						Santa Cruz, CA						23,326						9,399						38,129						—						1,389						9,399						39,518						48,917						5,038												02/2019						(1), (2), (3)
Hampton Inn						Lawrenceville, GA						5,140						697						3,808						—						1,755						697						5,563						6,260						2,930												11/2003						(1), (2), (3)
Hampton Inn						Evansville, IN						11,012						1,301						5,034						—						4,448						1,301						9,482						10,783						3,268												09/2004						(1), (2), (3)
Hampton Inn						Parsippany, NJ						18,641						3,268						24,306						—						(135)						3,268						24,171						27,439						5,374												03/2015						(1), (2), (3)
Hampton Inn						Buford, GA						8,186						1,168						5,338						—						4,275						1,168						9,613						10,781						5,343												07/2004						(1), (2), (3)
Marriott						Beverly Hills, CA						123,120						6,510						22,061						—						4,655						6,510						26,716						33,226						13,379												03/2005						(1), (2), (3)
Marriott						Durham, NC						26,800						1,794						25,056						—						12,015						1,794						37,071						38,865						18,238												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 (6)
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						85,552						20,637						101,376						—						31,481						20,637						132,857						153,494						66,355												07/2006						(1), (2), (3)
Marriott						Bridgewater, NJ						71,200						5,059						89,268						—						17,826						5,059						107,094						112,153						46,064												04/2007						(1), (2), (3)
Marriott						Dallas, TX						30,400						2,701						30,893						—						6,291						2,701						37,184						39,885						16,654												04/2007						(1), (2), (3)
Marriott						Fremont, CA						58,402						5,800						44,200						—						16,176						5,800						60,376						66,176						16,094												08/2014						(1), (2), (3)
Marriott						Memphis, TN						27,041						6,210						37,284						—						(2,645)						6,210						34,639						40,849						7,435												02/2015						(1), (2), (3)
Marriott						Irving, TX						66,653						8,330						82,272						—						30,693						8,330						112,965						121,295						38,696												03/2015						(1), (2), (3)
Marriott						Omaha, NE						15,847						6,641						49,887						—						8,670						6,641						58,557						65,198						16,873												03/2015						(1), (2), (3)
Marriott						Sugarland, TX						62,302						9,047						84,043						—						138						9,047						84,181						93,228						18,274												03/2015						(1), (2), (3)
SpringHill Suites by Marriott						Baltimore, MD						13,600						2,502						13,206						—						2,280						2,502						15,486						17,988						7,719												05/2004						(1), (2), (3)
SpringHill Suites by Marriott						Kennesaw, GA						6,261						1,106						5,021						—						1,649						1,106						6,670						7,776						3,426												07/2004						(1), (2), (3)
SpringHill Suites by Marriott						Buford, GA						9,022						1,132						6,089						—						4,492						1,132						10,581						11,713						3,440												07/2004						(1), (2), (3)
SpringHill Suites by Marriott						Manhattan Beach, CA						28,560						5,726						21,187						—						1,296						5,726						22,483						28,209						9,248												04/2007						(1), (2), (3)
SpringHill Suites by Marriott						Plymouth Meeting, PA						20,800						3,210						24,578						—						1,592						3,210						26,170						29,380						10,713												04/2007						(1), (2), (3)
Fairfield Inn by Marriott						Kennesaw, GA						4,911						840						4,359						(21)						2,514						819						6,873						7,692						3,638												07/2004						(1), (2), (3)
Courtyard by Marriott						Bloomington, IN						14,112						900						10,741						—						1,479						900						12,220						13,120						5,919												09/2004						(1), (2), (3)
Courtyard by Marriott - Tremont						Boston, MA						102,451						24,494						85,246						—						4,028						24,494						89,274						113,768						22,973												03/2015						(1), (2), (3)
Courtyard by Marriott						Columbus, IN						8,160						673						4,804						—						1,260						673						6,064						6,737						2,867												09/2004						(1), (2), (3)
Courtyard by Marriott						Denver, CO						33,376						9,342						29,656						—						1,855						9,342						31,511						40,853						8,686												03/2015						(1), (2), (3)
Courtyard by Marriott						Gaithersburg, MD						28,580						5,128						30,522						—						1,885						5,128						32,407						37,535						8,216												03/2015						(1), (2), (3)
Courtyard by Marriott						Crystal City, VA						42,132						5,411						38,610						—						8,301						5,411						46,911						52,322						22,524												06/2005						(1), (2), (3)
Courtyard by Marriott						Overland Park, KS						8,206						1,868						14,030						—						2,156						1,868						16,186						18,054						7,774												06/2005						(1), (2), (3)
Courtyard by Marriott						Foothill Ranch, CA						21,528						2,447						16,005						—						1,730						2,447						17,735						20,182						8,253												06/2005						(1), (2), (3)
Courtyard by Marriott						Alpharetta, GA						19,477						2,244						12,345						—						2,016						2,244						14,361						16,605						6,462												06/2005						(1), (2), (3)
Courtyard by Marriott						Oakland, CA						28,240						5,112						19,429						—						1,841						5,112						21,270						26,382						8,965												04/2007						(1), (2), (3)
Courtyard by Marriott						Scottsdale, AZ						23,600						3,700						22,134						—						2,724						3,700						24,858						28,558						10,299												04/2007						(1), (2), (3)
Courtyard by Marriott						Plano, TX						18,160						2,115						22,360						—						2,123						2,115						24,483						26,598						9,784												04/2007						(1), (2), (3)
Courtyard by Marriott						Newark, CA						34,960						2,863						10,723						—						2,129						2,863						12,852						15,715						4,868												04/2007						(1), (2), (3)
Courtyard by Marriott						Manchester, CT						5,819						1,301						7,430						—						1,034						1,301						8,464						9,765						3,782												04/2007						(1), (2), (3)
Courtyard by Marriott						Basking Ridge, NJ						41,600						5,419						45,304						—						3,673						5,419						48,977						54,396						20,099												04/2007						(1), (2), (3)
Marriott Residence Inn						Evansville, IN						7,756						961						5,972						—						896						960						6,869						7,829						3,438												09/2004						(1), (2), (3)
Marriott Residence Inn						Orlando, FL						23,970						6,554						40,539						—						13,045						6,554						53,584						60,138						26,643												06/2005						(1), (2), (3)
Marriott Residence Inn						Falls Church, VA						25,901						2,752						34,979						—						4,736						2,752						39,715						42,467						17,993												06/2005						(1), (2), (3)
Marriott Residence Inn						San Diego, CA						29,001						3,156						29,514						—						2,036						3,156						31,550						34,706						14,473												06/2005						(1), (2), (3)
Marriott Residence Inn						Salt Lake City, UT						14,741						1,897						16,357						—						3,144						1,897						19,501						21,398						8,637												06/2005						(1), (2), (3)
Marriott Residence Inn						Las Vegas, NV						38,160						18,177						39,568						(6,184)						(15,959)						11,993						23,609						35,602						6,244												04/2007						(1), (2), (3), (4)
Marriott Residence Inn						Phoenix, AZ						23,680						4,100						23,187						—						7,428						4,100						30,615						34,715						10,601												04/2007						(1), (2), (3)
Marriott Residence Inn						Plano, TX						14,160						2,045						16,869						—						1,321						2,045						18,190						20,235						7,425												04/2007						(1), (2), (3)
Marriott Residence Inn						Newark, CA						37,760						3,272						11,706						—						2,224						3,272						13,930						17,202						5,670												04/2007						(1), (2), (3)
Marriott Residence Inn						Manchester, CT						6,345						1,462						8,306						—						1,023						1,462						9,329						10,791						4,235												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 (6)
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						9,261						1,997						16,084						—						6,798						1,997						22,882						24,879						11,241												05/2007						(1), (2), (3)
Tribute Portfolio						Santa Fe, NM						25,000						8,094						42,058						—						2,590						8,094						44,648						52,742						6,083												10/2018						(1), (2), (3)
TownePlace Suites by Marriott						Manhattan Beach, CA						23,680						4,805						17,543						—						2,634						4,805						20,177						24,982						8,653												04/2007						(1), (2), (3)
Ritz-Carlton						Atlanta, GA						97,902						2,477						80,139						—						23,224						2,477						103,363						105,840						32,728												03/2015						(1), (2), (3)
One Ocean						Atlantic Beach, FL						57,600						5,815						14,817						—						19,860						5,815						34,677						40,492						24,901												04/2004						(1), (2), (3)
Renaissance						Nashville, TN						207,000						20,671						158,260						—						33,436						20,671						191,696						212,367						53,669												03/2015						(1), (2), (3)
Renaissance						Palm Springs, CA						51,522						—						74,112						—						5,906						—						80,018						80,018						20,733												03/2015						(1), (2), (3)
Sheraton Hotel						Langhorne, PA						12,880						2,037						12,424						—						3,231						2,037						15,655						17,692						7,920												07/2004						(1), (2), (3)
Sheraton Hotel						Minneapolis, MN						20,933						2,953						14,280						—						2,179						2,953						16,459						19,412						7,968												03/2005						(1), (2), (3)
Sheraton Hotel						Indianapolis, IN						58,712						3,100						22,041						—						10,816						3,100						32,857						35,957						16,942												03/2005						(1), (2), (3)
Sheraton Hotel						Anchorage, AK						26,331						4,023						39,363						—						14,096						4,023						53,459						57,482						26,974												12/2006						(1), (2), (3)
Sheraton Hotel						San Diego, CA						36,160						7,294						36,382						—						3,225						7,294						39,607						46,901						17,084												12/2006						(1), (2), (3)
Hyatt Regency						Coral Gables, FL						63,200						4,805						50,820						—						22,368						4,805						73,188						77,993						35,660												04/2007						(1), (2), (3)
Hyatt Regency						Hauppauge, NY						36,095						6,284						35,669						—						486						6,284						36,155						42,439						11,630												03/2015						(1), (2), (3)
Hyatt Regency						Savannah, GA						69,224						14,041						72,721						—						7,546						14,041						80,267						94,308						20,738												03/2015						(1), (2), (3)
Crown Plaza						Key West, FL						64,982						—						27,514						—						7,747						—						35,261						35,261						14,876												03/2005						(1), (2), (3)
Annapolis Historic Inn						Annapolis, MD						18,658						3,028						7,833						—						3,746						3,028						11,579						14,607						6,261												03/2005						(1), (2), (3)
Lakeway Resort & Spa						Austin, TX						19,527						4,541						28,940						—						2,587						4,541						31,527						36,068						10,473												02/2015						(1), (2), (3)
Silversmith						Chicago, IL						27,739						4,782						22,398						—						(1,743)						4,782						20,655						25,437						5,601												03/2015						(1), (2), (3)
The Churchill						Washington, DC						41,114						25,898						32,304						—						8,115						25,897						40,420						66,317						13,521												03/2015						(1), (2), (3)
The Melrose						Washington, DC						75,454						29,277						62,507						—						(846)						29,277						61,661						90,938						13,501												03/2015						(1), (2), (3)
Le Pavillon						New Orleans, LA						37,000						10,933						51,549						(2,601)						11,494						8,332						63,043						71,375						17,850												06/2015						(1), (2), (3)
The Ashton						Ft. Worth, TX						8,881						800						7,187						—						798						800						7,985						8,785						2,134												07/2014						(1), (2), (3)
Westin						Princeton, NJ						33,000						6,475						52,195						—						7,027						6,475						59,222						65,697						17,130												03/2015						(1), (2), (3)
W						Atlanta, GA						48,800						2,353						54,383						—						4,042						2,353						58,425						60,778						14,974												07/2015						(1), (2), (3)
Atlanta Hotel Indigo						Atlanta, GA						15,290						3,230						23,713						—						4,569						3,230						28,282						31,512						8,072												10/2015						(1), (2), (3)
WorldQuest						Orlando, FL						—						1,432						9,870						(121)						252						1,311						10,122						11,433						3,376												03/2011						(1), (2), (3)
Total(5)												$	3,639,313					$	633,023					$	3,301,577					$	(8,952)					$	601,738					$	624,070					$	3,903,316					$	4,527,386					$	1,428,027

_________________________

(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.

(5)     Hilton Marietta is not included in this schedule as it is operated through a lease.

(6)     The cost of land and depreciable property, net of accumulated depreciation, for U.S. federal income tax purposes was approximately $2.9 billion as of December 31, 2022.

						Year Ended December 31,
						2022						2021						2020
Investment in Real Estate:
Beginning balance						$	4,663,153					$	4,798,605					$	5,444,259
Additions						106,246						40,789						35,712
Impairment/write-offs						(195,736)						(151,753)						(254,475)
Sales/disposals						(46,277)						(24,488)						(426,891)
Ending balance						$	4,527,386					$	4,663,153					$	4,798,605
Accumulated Depreciation:
Beginning balance						1,432,443						1,371,623						1,335,816
Depreciation expense						201,900						219,112						252,873
Impairment/write-offs						(195,736)						(151,753)						(162,754)
Sales/disposals						(10,580)						(6,539)						(54,312)
Ending balance						$	1,428,027					$	1,432,443					$	1,371,623
Investment in Real Estate, net						$	3,099,359					$	3,230,710					$	3,426,982

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 https://asc.fasb.org/extlink&oid=120402810&loc=d3e638233-123024

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