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Investment in Hotel Properties (Tables)
9 Months Ended
Sep. 30, 2024
Investments, All Other Investments [Abstract]  
Schedule of Investment in Hotel Properties
Investment in hotel properties, net as of September 30, 2024 and December 31, 2023 consisted of the following (in thousands):
 
September 30, 2024December 31, 2023
Land and improvements$285,767 $289,671 
Building and improvements1,266,121 1,274,970 
Furniture, fixtures and equipment112,223 108,222 
Finance lease assets43,753 — 
Renovations in progress13,801 15,138 
1,721,665 1,688,001 
Less accumulated depreciation and amortization(488,304)(460,368)
Investment in hotel properties, net$1,233,361 $1,227,633