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Investment in Hotel Properties (Tables) | 12 Months Ended
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Dec. 31, 2024
Investments, All Other Investments [Abstract] |
Schedule of Investment in Hotel Properties | Investment in hotel properties, net as of December 31, 2024 and 2023 consisted of the following (in thousands):
| December 31, 2024 |  | December 31, 2023
Land and improvements | $ | 280,415 |  |  | $ | 289,671 |
Building and improvements | 1,232,438 |  |  | 1,274,970 |
Furniture, fixtures and equipment | 107,947 |  |  | 108,222 |
Finance lease assets | 43,760 |  |  | — |
Renovations in progress | 17,232 |  |  | 15,138 |
| 1,681,792 |  |  | 1,688,001 |
Less accumulated depreciation and amortization | (484,274) |  |  | (460,368) |
Investment in hotel properties, net | $ | 1,197,518 |  |  | $ | 1,227,633 |

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