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Investment in Hotel Properties (Tables)

3 Months Ended

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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