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Investment in Hotel Properties (Tables)
 6 Months Ended
Jun. 30, 2017
Investments Schedule [Abstract]  
Investment in Hotel Properties
Investment in hotel properties as of June 30, 2017 and December 31, 2016 consisted of the following (in thousands):
 
 
June 30, 2017
 
December 31, 2016
Land and improvements
$
274,554

 
$
274,554

Building and improvements
1,045,697

 
1,045,880

Furniture, fixtures and equipment
53,603

 
50,495

Renovations in progress
13,309

 
10,067

 
1,387,163

 
1,380,996

Less: accumulated depreciation
(171,486
)
 
(147,902
)
Investment in hotel properties, net
$
1,215,677

 
$
1,233,094