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Investment in Hotel Properties
 6 Months Ended
Jun. 30, 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):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30,

 

December 31,

 

    

2017

    

2016

 

 

(unaudited)

 

 

 

Land

 

$

529,401

 

$

531,660

Buildings and improvements

 

 

3,163,757

 

 

3,135,806

Furniture, fixtures and equipment

 

 

522,623

 

 

512,372

Intangible assets

 

 

48,759

 

 

49,015

Franchise fees

 

 

980

 

 

1,021

Construction in process

 

 

34,805

 

 

65,449

Investment in hotel properties, gross

 

 

4,300,325

 

 

4,295,323

Accumulated depreciation and amortization

 

 

(1,195,356)

 

 

(1,137,104)

Investment in hotel properties, net

 

$

3,104,969

 

$

3,158,219