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Investment in Hotel Properties (Tables) | 9 Months Ended
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Sep. 30, 2023
Investments, All Other Investments [Abstract] |
Schedule of Investment in Hotel Properties | Investment in hotel properties, net as of September 30, 2023 and December 31, 2022 consisted of the following (in thousands):
| September 30, 2023 |  | December 31, 2022
Land and improvements | $ | 289,671 |  |  | $ | 289,589 |
Building and improvements | 1,276,283 |  |  | 1,267,035 |
Furniture, fixtures and equipment | 107,756 |  |  | 98,373 |
Renovations in progress | 14,074 |  |  | 11,710 |
| 1,687,784 |  |  | 1,666,707 |
Less: accumulated depreciation | (445,829) |  |  | (402,455) |
Investment in hotel properties, net | $ | 1,241,955 |  |  | $ | 1,264,252 |

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