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Schedule III - Real Estate and Accumulated Depreciation | 12 Months Ended
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Dec. 31, 2020
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract] |
Schedule III - Real Estate and Accumulated Depreciation | SCHEDULE III BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES REAL ESTATE AND ACCUMULATED DEPRECIATION December 31, 2020 (in thousands)
Column A |  | Column B |  | Column C |  | Column D |  | Column E |  | Column F |  | Column G |  | Column H |  | Column I
|  |  |  |  |  | Initial Cost |  | Costs Capitalized Since Acquisition |  | Gross Carrying Amount At Close of Period |  |  |  |  |  |  |  |  |  |
Hotel Property |  | Location |  | Encumbrances |  | Land |  | FF&E, Buildings and improvements |  | Land |  | FF&E, Buildings and improvements |  | Land |  | FF&E, Buildings and improvements |  | Total |  | Accumulated Depreciation |  | Construction Date |  | Acquisition Date |  | Income Statement
Capital Hilton |  | Washington D.C. |  | $ | 108,223 |  |  | $ | 45,721 |  |  | $ | 106,245 |  |  | $ | — |  |  | $ | 36,991 |  |  | $ | 45,721 |  |  | $ | 143,236 |  |  | $ | 188,957 |  |  | $ | 60,571 |  |  | — |  |  | 04/2007 |  | (1),(2),(3)
Hilton La Jolla Torrey Pines |  | La Jolla, CA |  | 89,006 |  |  | — |  |  | 114,614 |  |  | — |  |  | 9,856 |  |  | — |  |  | 124,470 |  |  | 124,470 |  |  | 48,938 |  |  | — |  |  | 04/2007 |  | (1),(2),(3)
Marriott Seattle Waterfront |  | Seattle, WA |  | 134,700 |  |  | 31,888 |  |  | 112,176 |  |  | — |  |  | 6,241 |  |  | 31,888 |  |  | 118,417 |  |  | 150,305 |  |  | 43,057 |  |  | — |  |  | 04/2007 |  | (1),(2),(3)
The Notary Hotel |  | Philadelphia, PA |  | 84,600 |  |  | 9,814 |  |  | 94,029 |  |  | — |  |  | 38,562 |  |  | 9,814 |  |  | 132,591 |  |  | 142,405 |  |  | 50,756 |  |  | — |  |  | 04/2007 |  | (1),(2),(3)
The Clancy |  | San Francisco, CA |  | 116,300 |  |  | 22,653 |  |  | 72,731 |  |  | — |  |  | 67,013 |  |  | 22,653 |  |  | 139,744 |  |  | 162,397 |  |  | 53,222 |  |  | — |  |  | 04/2007 |  | (1),(2),(3)
Sofitel Chicago Magnificent Mile |  | Chicago, IL |  | 99,400 |  |  | 12,631 |  |  | 140,369 |  |  | — |  |  | 12,018 |  |  | 12,631 |  |  | 152,387 |  |  | 165,018 |  |  | 33,875 |  |  | — |  |  | 02/2014 |  | (1),(2),(3)
Pier House Resort & Spa |  | Key West, FL |  | 80,000 |  |  | 59,731 |  |  | 33,011 |  |  | — |  |  | 6,272 |  |  | 59,731 |  |  | 39,283 |  |  | 99,014 |  |  | 10,364 |  |  | — |  |  | 03/2014 |  | (1),(2),(3)
Bardessono Hotel and Spa |  | Yountville, CA |  | 40,000 |  |  | — |  |  | 64,184 |  |  | — |  |  | 3,968 |  |  | — |  |  | 68,152 |  |  | 68,152 |  |  | 11,507 |  |  | — |  |  | 07/2015 |  | (1),(2),(3),(4)
Hotel Yountville |  | Yountville, CA |  | 51,000 |  |  | 47,849 |  |  | 48,567 |  |  | — |  |  | (321) |  |  | 47,849 |  |  | 48,246 |  |  | 96,095 |  |  | 8,300 |  |  | — |  |  | 05/2017 |  | (1),(2),(3)
Park Hyatt Beaver Creek Resort & Spa |  | Beaver Creek, CO |  | 67,500 |  |  | 89,117 |  |  | 56,383 |  |  | — |  |  | 4,932 |  |  | 89,117 |  |  | 61,315 |  |  | 150,432 |  |  | 9,916 |  |  | — |  |  | 03/2017 |  | (1),(2),(3)
The Ritz-Carlton Sarasota |  | Sarasota, FL |  | 100,000 |  |  | 83,630 |  |  | 99,782 |  |  | — |  |  | (5,340) |  |  | 83,630 |  |  | 94,442 |  |  | 178,072 |  |  | 14,258 |  |  | — |  |  | 04/2018 |  | (1),(2),(3)
The Ritz-Carlton St. Thomas |  | St. Thomas, USVI |  | 42,500 |  |  | 25,533 |  |  | 38,467 |  |  | — |  |  | 76,466 |  |  | 25,533 |  |  | 114,933 |  |  | 140,466 |  |  | 10,250 |  |  | — |  |  | 12/2015 |  | (1),(2),(3)
The Ritz-Carlton Lake Tahoe |  | Truckee, CA |  | 54,000 |  |  | 26,731 |  |  | 91,603 |  |  | — |  |  | 732 |  |  | 26,731 |  |  | 92,335 |  |  | 119,066 |  |  | 5,245 |  |  | — |  |  | 01/2019 |  | (1),(2),(3)
Total |  |  |  | $ | 1,067,229 |  |  | $ | 455,298 |  |  | $ | 1,072,161 |  |  | $ | — |  |  | $ | 257,390 |  |  | $ | 455,298 |  |  | $ | 1,329,551 |  |  | $ | 1,784,849 |  |  | $ | 360,259 |  |  |  |  |  |  |
__________________ (1)Estimated useful life for buildings is 39 years. (2)Estimated useful life for building improvements is 7.5 years. (3)Estimated useful life for furniture and fixtures is 1.5 to 5 years. (4)Amount includes transfer of FF&E to Ashford Inc. in return for the key money consideration.
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Investment in real estate: |  |  |  |  |
Beginning balance | $ | 1,791,174 |  |  | $ | 1,562,806 |  |  | $ | 1,403,110 |
Additions | 16,067 |  |  | 262,541 |  |  | 267,224 |
Write-offs | (22,392) |  |  | (14,445) |  |  | (22,134) |
Impairment | — |  |  | (476) |  |  | (5,885) |
Sales/disposals | — |  |  | (19,252) |  |  | (79,509) |
Ending balance | $ | 1,784,849 |  |  | $ | 1,791,174 |  |  | $ | 1,562,806 |
Accumulated depreciation: |  |  |  |  |
Beginning balance | 309,752 |  |  | 262,905 |  |  | 257,268 |
Depreciation expense | 72,899 |  |  | 69,195 |  |  | 56,884 |
Impairment | — |  |  | (105) |  |  | (3,570) |
Write-offs | (22,392) |  |  | (14,445) |  |  | (22,134) |
Sales/disposals | — |  |  | (7,798) |  |  | (25,543) |
Ending balance | $ | 360,259 |  |  | $ | 309,752 |  |  | $ | 262,905 |
Investment in real estate, net | $ | 1,424,590 |  |  | $ | 1,481,422 |  |  | $ | 1,299,901 |

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- Definition The entire disclosure of real estate investments and associated accumulated depreciation for entities with a significant portion of their business acquiring and holding investment real estate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 28 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -SubTopic 360 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-28) -URI http://asc.fasb.org/extlink&oid=120402810&loc=d3e638233-123024 + Details
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