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Investment in Hotel Properties (Tables)

3 Months Ended

Mar. 31, 2024

Investments, All Other Investments [Abstract]

Schedule of Investment in Hotel Properties

Investment in hotel properties, net as of March 31, 2024 and December 31, 2023 consisted of the following (in thousands):

 

			March 31, 2024						December 31, 2023
Land and improvements			$	285,577					$	289,671
Building and improvements			1,261,375						1,274,970
Furniture, fixtures and equipment			108,946						108,222
Renovations in progress			7,710						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

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