Investment in Hotel Properties

3 Months Ended

Mar. 31, 2017

Investment in Hotel Properties

Investment in Hotel Properties

3. Investment in Hotel Properties

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

	March 31,		December 31,
	2017		2016
	(unaudited)
Land	$	531,660	$	531,660
Buildings and improvements		3,174,081		3,135,806
Furniture, fixtures and equipment		522,806		512,372
Intangible assets		48,759		49,015
Franchise fees		1,021		1,021
Construction in process		48,856		65,449
Investment in hotel properties, gross		4,327,183		4,295,323
Accumulated depreciation and amortization		(1,177,711)		(1,137,104)
Investment in hotel properties, net	$	3,149,472	$	3,158,219