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Investments in Hotel Properties, net

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Investments in Hotel Properties, net

Investments in Hotel Properties, net

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

						December 31, 2024						December 31, 2023
Land						$	630,842					$	630,842
Buildings and improvements						1,430,096						1,535,501
Furniture, fixtures and equipment						158,470						166,673
Construction in progress						20,420						36,954
Residences						12,746						12,746
Total cost						2,252,574						2,382,716
Accumulated depreciation						(473,888)						(498,508)
Investments in hotel properties, net						$	1,778,686					$	1,884,208

For the years ended December 31, 2024, 2023 and 2022, depreciation expense was $98.2 million, $92.6 million and $78.0 million, respectively.

Impairment Charges

During the years ended December 31, 2024, 2023 and 2022, no impairment charges were recorded.

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/360/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-7

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