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Investment in Hotel Properties (Tables)

12 Months Ended

Dec. 31, 2022

Investments, All Other Investments [Abstract]

Investment in Hotel Properties

Investment in hotel properties, net as of December 31, 2022 and 2021 consisted of the following (in thousands):

 

			December 31, 2022						December 31, 2021
Land and improvements			$	289,589					$	291,768
Building and improvements			1,267,035						1,258,845
Furniture, fixtures and equipment			98,373						91,110
Renovations in progress			11,710						7,869
			1,666,707						1,649,592
Less: accumulated depreciation			(402,455)						(366,722)
Investment in hotel properties, net			$	1,264,252					$	1,282,870

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