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Investment in Hotel Properties (Tables)

12 Months Ended

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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