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Investment in Hotel Properties (Tables)
 9 Months Ended
Sep. 30, 2016
Investment in Hotel Properties  
Schedule of investment in hotel properties

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30,

 

December 31,

 

    

2016

    

2015

 

 

(unaudited)

 

 

 

Land

 

$
542,660

 

$
542,660

Buildings and improvements

 

 
3,168,291

 

 
3,109,562

Furniture, fixtures and equipment

 

 
510,347

 

 
480,832

Intangibles

 

 
47,090

 

 
45,249

Franchise fees

 

 
1,021

 

 
1,082

Construction in process

 

 
116,782

 

 
97,974

Investment in hotel properties, gross

 

 
4,386,191

 

 
4,277,359

Accumulated depreciation and amortization

 

 
(1,151,377)

 

 
(1,048,349)

Investment in hotel properties, net

 

$
3,234,814

 

$
3,229,010