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Investment in Hotel Properties
 12 Months Ended
Dec. 31, 2016
Investments Schedule [Abstract]  
Investment in Hotel Properties
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