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Investment in Hotel Properties (Tables)
 3 Months Ended
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