Property and Equipment

9 Months Ended

Sep. 30, 2020

Property, Plant and Equipment [Abstract]

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


	September 30, 2020		December 31, 2019
Land	$	618,210	$	617,695
Land improvements	7,994		7,994
Buildings and site improvements	2,778,571		2,751,590
Furniture, fixtures and equipment	541,810		534,802
Construction in progress	166,751		126,464
	4,113,336		4,038,545
Less: accumulated depreciation	(1,099,347)		(1,011,776)
	$	3,013,989	$	3,026,769

On March 2, 2020, we acquired the remaining 4.5% interest in the land underlying the Kimpton Shorebreak Resort 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 September 30, 2020 and December 31, 2019, we had accrued capital expenditures of $8.9 million and $13.1 million, respectively.