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Investments in Hotel Properties, net (Tables)

3 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

Schedule of Investment in Hotel Properties

Investments in hotel properties, net consisted of the following (in thousands):

						March 31, 2022						December 31, 2021
Land						$	560,241					$	480,530
Buildings and improvements						1,321,913						1,215,810
Furniture, fixtures and equipment						137,303						123,954
Construction in progress						12,175						12,038
Residences						12,746						12,746
Total cost						2,044,378						1,845,078
Accumulated depreciation						(409,567)						(399,481)
Investments in hotel properties, net						$	1,634,811					$	1,445,597

Asset Acquisition

The following table summarizes the estimated fair value of the assets acquired and liabilities assumed in the acquisition (in thousands):

Land			$	79,711
Buildings and improvements			102,105
Furniture, fixtures and equipment			15,405
Investments in hotel properties			197,221
Restricted cash			1,091
Inventories			1,184
Mortgage loan			(58,601)
			$	140,895
Net other assets (liabilities)			$	(9,806)

The table below summarizes the total revenue and net income (loss) in our condensed consolidated statements of operations for the three months ended March 31, 2022:

									Three Months Ended March 31, 2022
Total revenue									$	7,495
Net income (loss)									3,492

X

- Definition

Tabular disclosure of asset acquisition.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 50
-Section 15
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- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(13))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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-Topic 360
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