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INVESTMENT IN HOTEL PROPERTIES (Tables)
 6 Months Ended
Jun. 30, 2022
Property, Plant and Equipment [Abstract]  
Schedule of investment in hotel properties
Investment in hotel properties consists of the following at June 30, 2022 and December 31, 2021:
  
June 30, 2022December 31, 2021
  
Land$403,611 $478,412 
Buildings and Improvements1,240,265 1,560,768 
Furniture, Fixtures and Equipment219,901 274,802 
Construction in Progress4,897 1,784 
1,868,674 2,315,766 
  
Less Accumulated Depreciation(533,195)(650,669)
  
Total Investment in Hotel Properties *$1,335,479 $1,665,097 
* The net book value of investment in hotel property at Ritz Coconut Grove, which is a variable interest entity, is $38,256 and $39,577 at June 30, 2022 and December 31, 2021, respectively.
Schedule of real estate assets sold
For the six months ended June 30, 2022, we had no hotel dispositions. During the six months ended June 30, 2021, we had the following hotel dispositions:
HotelAcquisition
Date		Disposition
Date		ConsiderationGain on
Disposition
Courtyard San Diego, CA05/30/201302/19/2021$64,500 $5,032 
The Capitol Hill Hotel Washington, DC04/15/201103/09/202151,000 12,975 
Holiday Inn Express Cambridge, MA05/03/200603/09/202132,000 20,280 
Residence Inn Miami Coconut Grove, FL06/12/201303/10/202131,000 9,996 
2021 Total$48,283 
Summary of assets held-for-sale The table below shows the balances for the seven properties noted above that were classified as held for sale as of June 30, 2022:
June 30, 2022
Land$74,801 
Right of Use Asset - Land Lease12,705 
Buildings and Improvements325,566 
Furniture, Fixtures and Equipment59,096 
472,168 
Less Accumulated Depreciation(153,452)
Assets Held for Sale$318,716 
Liabilities related to hotel assets held for sale at June 30, 2022 and December 31, 2021 consisted of the following:
June 30, 2022December 31, 2021
Mortgage Indebtedness$74,522 $— 
Net Unamortized Deferred Financing Costs(359)— 
Lease Liabilities5,624 — 
Liabilities Related to Hotel Assets Held for Sale$79,787 $—