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Investment in Hotel Properties, net (Tables) | 6 Months Ended
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Jun. 30, 2019
Investments Schedule [Abstract] |
Investment in Hotel Properties | Investment in hotel properties, net as of June 30, 2019 and December 31, 2018 consisted of the following (in thousands):
| June 30, 2019 |  | December 31, 2018
Land and improvements | $ | 288,662 |  | $ | 296,253
Building and improvements | 1,211,555 |  | 1,214,780
Furniture, fixtures and equipment | 78,609 |  | 73,411
Renovations in progress | 24,107 |  | 25,370
| 1,602,933 |  | 1,609,814
Less: accumulated depreciation | (255,042) |  | (236,041)
Investment in hotel properties, net | $ | 1,347,891 |  | $ | 1,373,773

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