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Investments in Hotel Properties, net (Tables)
 9 Months Ended
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, 2023December 31, 2022
Land$625,331 $622,759 
Buildings and improvements3,580,947 3,650,464 
Furniture, fixtures and equipment195,338 222,665 
Construction in progress110,076 21,609 
Condominium properties— 9,889 
Hilton Marietta finance lease17,269 18,998 
Total cost4,528,961 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 progress56,591 
Restricted cash18,201 
Deferred costs92 
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