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Investment in Hotel Properties (Tables) | 9 Months Ended
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Sep. 30, 2018
Investments Schedule [Abstract] |
Investment in Hotel Properties | Investment in hotel properties as of September 30, 2018 and December 31, 2017 consisted of the following (in thousands):
| September 30, 2018 |  | December 31, 2017
Land and improvements | $ | 293,353 |  |  | $ | 291,054 |
Building and improvements | 1,167,482 |  |  | 1,140,477 |
Furniture, fixtures and equipment | 67,583 |  |  | 63,443 |
Renovations in progress | 24,007 |  |  | 13,262 |
| 1,552,425 |  |  | 1,508,236 |
Less: accumulated depreciation | (223,865 | ) |  | (188,154 | )
Investment in hotel properties, net | $ | 1,328,560 |  |  | $ | 1,320,082 |

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