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Investment in Hotel Properties (Tables) | 3 Months Ended
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Mar. 31, 2023
Investments, All Other Investments [Abstract] |
Investment in Hotel Properties | Investment in hotel properties, net as of March 31, 2023 and December 31, 2022 consisted of the following (in thousands):
| March 31, 2023 |  | December 31, 2022
Land and improvements | $ | 289,597 |  |  | $ | 289,589 |
Building and improvements | 1,267,561 |  |  | 1,267,035 |
Furniture, fixtures and equipment | 98,669 |  |  | 98,373 |
Renovations in progress | 18,796 |  |  | 11,710 |
| 1,674,623 |  |  | 1,666,707 |
Less: accumulated depreciation | (416,621) |  |  | (402,455) |
Investment in hotel properties, net | $ | 1,258,002 |  |  | $ | 1,264,252 |

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