Investment in Hotel Properties (Tables)

3 Months Ended

Mar. 31, 2015

Investments [Abstract]

Property, Plant and Equipment

Investment in hotel properties as of March 31, 2015 and December 31, 2014 consists of the following:

	March 31, 2015			December 31, 2014
Land	$	730,735		$	601,962
Buildings and improvements	3,595,465			3,295,233
Furniture, fixtures and equipment	659,946			596,879
Investment in hotel properties, gross	4,986,146			4,494,074
Accumulated depreciation	(1,108,270		)	(1,065,518		)
Investment in hotel properties, net	$	3,877,876		$	3,428,556

Summary of Acquisitions

The following is a summary of the acquisitions:

							Acquisition Transaction Costs
Hotel Name	Acquisition Date	Number of Rooms	Location	Purchase Price		Manager	For the three months ended March 31, 2015
Park Central San Francisco	January 23, 2015	681	San Francisco, CA	$	350,000	Highgate Hotels	$	230
The Marker Waterfront Resort	March 16, 2015	96	Key West, FL	96,250		Highgate Hotels	217
Total				$	446,250		$	447