Investment In Hotel Properties (Tables)

12 Months Ended

Dec. 31, 2019

Investment in hotel properties consists of the following at December 31, 2019 and December 31, 2018:



	December 31, 2019			December 31, 2018

Land	$	518,243		$	518,243
Buildings and Improvements	1,710,621			1,688,459
Furniture, Fixtures and Equipment	294,527			278,098
Construction in Progress	10,202			3,804
	2,533,593			2,488,604

Less Accumulated Depreciation	(557,620		)	(461,945		)

Total Investment in Hotel Properties	$	1,975,973		$	2,026,659

Real Estate Assets Sold

During the year ended December 31, 2019, we had no hotel dispositions. During the years ended December 31, 2018, and 2017, we had the following hotel dispositions:



Hotel	Acquisition Date	Disposition Date	Consideration		Gain (Loss) on Disposition

Hyatt House Gaithersburg, MD	December 2006	February 2018	$	19,000	$	2,441
Hampton Inn Pearl Street, NY	June 2014	March 2018	32,400		926
Residence Inn Tysons Corner, VA	February 2006	October 2018	15,700		781

2018 Total					$	4,148

Residence Inn, Greenbelt, MD	July 2004	January 2017	$	35,000	$	19,541
Courtyard Alexandria, VA	September 2006	January 2017	27,000		(1,123		)
Hyatt House Scottsdale, AZ	December 2006	June 2017	36,000		15,015
Hyatt House Pleasant Hill, CA	December 2006	June 2017	45,000		22,406
Hyatt House Pleasanton, CA	December 2006	June 2017	49,500		33,507
Holiday Inn Express, Chester, NY	January 2007	December 2017	8,400		1,004

2017 Total					$	90,350

Aquisitions In 2018 [Member]

Wholly Owned Hotel Properties Acquired

During the year ended December 31, 2019, we acquired no hotel properties. During the year ended December 31, 2018 we acquired the following wholly-owned hotel property:



Hotel	Acquisition Date	Land		Buildings and Improvements		Furniture, Fixtures and Equipment		Other Intangibles				Total Purchase Price		Assumption of Debt
Annapolis Waterfront Hotel, MD	3/28/2018	$	—	$	43,251	$	1,802	$	(3,199	)	*	$	41,854	$	—

* Consists entirely of $3,199 of above market ground lease liability, which is recorded in the Right of Use Assets on the consolidated balance sheet as of December 31, 2019.

Aquisitions In 2017 [Member]

Results Of Operations For Hotels Acquired With 100% Interest

These amounts represent the results of operations for these hotels since the date of acquisition as presented in the table below:



	Year Ended December 31, 2017
Hotel	Revenue		Net Income (Loss)
Mystic Marriott Hotel & Spa, Groton, CT	$	21,247	$	1,700
The Ritz-Carlton, Coconut Grove, FL	13,390		(693		)
The Pan Pacific Hotel, Seattle, WA	13,128		493
Philadelphia Westin, Philadelphia, PA	14,382		1,542

Total	$	62,147	$	3,042