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Investment in Hotel Properties (Tables) | 12 Months Ended
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Dec. 31, 2019
Investments Schedule [Abstract] |
Investment in Hotel Properties | Investment in hotel properties, net as of December 31, 2019 and 2018 consisted of the following (in thousands):
| December 31, 2019 |  | December 31, 2018
Land and improvements | $ | 296,884 |  |  | $ | 296,253 |
Building and improvements | 1,216,849 |  |  | 1,214,780 |
Furniture, fixtures and equipment | 81,707 |  |  | 73,411 |
Renovations in progress | 31,589 |  |  | 25,370 |
| 1,627,029 |  |  | 1,609,814 |
Less: accumulated depreciation | (279,913) |  |  | (236,041) |
Investment in hotel properties, net | $ | 1,347,116 |  |  | $ | 1,373,773 |

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