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Investment in Hotel Properties, net (Tables)
3 Months Ended
Mar. 31, 2021
Investments, All Other Investments [Abstract]  
Investment in Hotel Properties
Investment in hotel properties, net as of March 31, 2021 and December 31, 2020 consisted of the following (in thousands):
 
March 31, 2021December 31, 2020
Land and improvements$287,049 $287,049 
Building and improvements1,197,805 1,195,276 
Furniture, fixtures and equipment86,506 84,381 
Renovations in progress6,656 11,225 
1,578,016 1,577,931 
Less: accumulated depreciation(326,030)(312,757)
Investment in hotel properties, net$1,251,986 $1,265,174