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Investments in Hotel Properties, net (Tables) | 9 Months Ended
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Sep. 30, 2023
Property, Plant and Equipment [Abstract] |
Schedule of Investments in Hotel Properties, net | Investments in hotel properties, net consisted of the following (in thousands):
| September 30, 2023 |  | December 31, 2022
Land | $ | 625,331 |  |  | $ | 622,759 |
Buildings and improvements | 3,580,947 |  |  | 3,650,464 |
Furniture, fixtures and equipment | 195,338 |  |  | 222,665 |
Construction in progress | 110,076 |  |  | 21,609 |
Condominium properties | — |  |  | 9,889 |
Hilton Marietta finance lease | 17,269 |  |  | 18,998 |
Total cost | 4,528,961 |  |  | 4,546,384 |
Accumulated depreciation | (1,406,128) |  |  | (1,428,053) |
Investments in hotel properties, net | $ | 3,122,833 |  |  | $ | 3,118,331 |
Asset Acquisition | The following table summarizes the assets and liabilities of 815 Commerce MM that were initially consolidated on May 31, 2023, upon Ashford Trust becoming the primary beneficiary (in thousands):
Land | $ | 4,609 |
Construction in progress | 56,591 |
Restricted cash | 18,201 |
Deferred costs | 92 |
Indebtedness | (35,052) |
Other finance liability | (26,729) |
Accounts payable and accrued expenses | (88) |
Accrued interest payable | (104) |
Noncontrolling interest in consolidated entities | (7,961) |
Investment in 815 Commerce MM | $ | 9,559 |

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- Definition Tabular disclosure of asset acquisition. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 50 -Name Accounting Standards Codification -Section 15 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480123/805-50-15-3 + Details
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- Definition Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations. + References No definition available. + Details
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