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Investment in Hotel Properties (Tables) | 12 Months Ended
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Dec. 31, 2016
Investments Schedule [Abstract] |
Investment in Hotel Properties | Investment in hotel properties as of December 31, 2016 and 2015 consisted of the following (in thousands):
| December 31, 2016 |  | December 31, 2015
Land and improvements | $ | 274,554 |  |  | $ | 274,543 |
Building and improvements | 1,045,880 |  |  | 1,031,649 |
Furniture, fixtures and equipment | 50,495 |  |  | 63,542 |
Renovations in progress | 10,067 |  |  | 8,829 |
| 1,380,996 |  |  | 1,378,563 |
Less: accumulated depreciation | (147,902 | ) |  | (120,111 | )
Investment in hotel properties, net | $ | 1,233,094 |  |  | $ | 1,258,452 |

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