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Investment in Hotel Properties (Tables) | 3 Months Ended
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Mar. 31, 2018
Investments Schedule [Abstract] |
Investment in Hotel Properties | Investment in hotel properties as of March 31, 2018 and December 31, 2017 consisted of the following (in thousands):
| March 31, 2018 |  | December 31, 2017
Land and improvements | $ | 291,053 |  |  | $ | 291,054 |
Building and improvements | 1,142,375 |  |  | 1,140,477 |
Furniture, fixtures and equipment | 64,051 |  |  | 63,443 |
Renovations in progress | 17,148 |  |  | 13,262 |
| 1,514,627 |  |  | 1,508,236 |
Less: accumulated depreciation | (200,123 | ) |  | (188,154 | )
Investment in hotel properties, net | $ | 1,314,504 |  |  | $ | 1,320,082 |

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