Property and Equipment

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

Property and equipment as of June 30, 2020 and December 31, 2019 consists of the following (in thousands):

	June 30, 2020			December 31, 2019
Land	$	618,210		$	617,695
Land improvements	7,994			7,994
Buildings and site improvements	2,766,924			2,751,590
Furniture, fixtures and equipment	536,348			534,802
Construction in progress	171,205			126,464
	4,100,681			4,038,545
Less: accumulated depreciation	(1,070,776		)	(1,011,776		)
	$	3,029,905		$	3,026,769

On March 2, 2020, we acquired the remaining 4.5% interest in the land underlying the Shorebreak Hotel located in Huntington Beach, California, for a purchase price of $1.6 million. We now own 100% of the interest in the land underlying the hotel.

As of June 30, 2020 and December 31, 2019, we had accrued capital expenditures of $5.2 million and $13.1 million, respectively.