Investment in Hotel Properties

3 Months Ended

Mar. 31, 2021

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,
	2021		2020
	(unaudited)
Land	$	571,212	$	571,212
Buildings and improvements		2,527,654		2,523,750
Furniture, fixtures and equipment		432,493		431,918
Intangible assets		21,192		21,192
Franchise fees		743		743
Construction in progress		19,933		15,831
Investment in hotel properties, gross		3,573,227		3,564,646
Accumulated depreciation and amortization		(1,133,264)		(1,103,148)
Investment in hotel properties, net	$	2,439,963	$	2,461,498