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Investment in Hotel Properties
3 Months Ended
Mar. 31, 2024
Investments, All Other Investments [Abstract]  
Investment in Hotel Properties Investment in Hotel Properties
Investment in hotel properties, net

Investment in hotel properties, net as of March 31, 2024 and December 31, 2023 consisted of the following (in thousands):
 
March 31, 2024December 31, 2023
Land and improvements$285,577 $289,671 
Building and improvements1,261,375 1,274,970 
Furniture, fixtures and equipment108,946 108,222 
Renovations in progress7,710 15,138 
1,663,608 1,688,001 
Less: accumulated depreciation(458,337)(460,368)
Investment in hotel properties, net$1,205,271 $1,227,633