Investment in Real Estate (Tables)

6 Months Ended

Jun. 30, 2024

Real Estate [Abstract]

Schedule of Investment in Real Estate

The Company’s investment in real estate consisted of the following (in thousands):

	June 30,			December 31,
	2024			2023
Land	$	846,651		$	828,868
Building and improvements		5,094,381			4,917,105
Furniture, fixtures and equipment		596,693			571,026
Finance ground lease assets		102,084			102,084
Franchise fees		25,653			21,233
		6,665,462			6,440,316
Less accumulated depreciation and amortization		(1,753,584	)		(1,662,942	)
Investment in real estate, net	$	4,911,878		$	4,777,374

Schedule of Hotel Acquisitions

The following table sets forth the location, brand, manager, date acquired, number of guest rooms and gross purchase price, excluding transaction costs, for each hotel. All dollar amounts are in thousands.

City	State	Brand	Manager	Date Acquired	Guest Rooms		Gross Purchase Price
Washington, D.C.	N/A	AC Hotels	HHM	3/25/2024		234	$	116,804
Madison	WI	Embassy Suites	Raymond	6/20/2024		262		79,516
						496	$	196,320

The following table sets forth the location, brand, manager, date acquired, number of guest rooms and gross purchase price, excluding transaction costs, for each property. All dollar amounts are in thousands.

City	State	Brand	Manager	Date Acquired	Guest Rooms		Gross Purchase Price
Cleveland	OH	Courtyard	Concord	6/30/2023		154	$	31,000
Salt Lake City	UT	Courtyard	North Central	10/11/2023		175		48,110
Salt Lake City	UT	Hyatt House	North Central	10/11/2023		159		34,250
Salt Lake City (1)	UT	N/A	North Central	10/11/2023	N/A			9,140
Renton	WA	Residence Inn	InnVentures	10/18/2023		146		55,500
South Jordan	UT	Embassy Suites	HHM	11/21/2023		192		36,750
Las Vegas	NV	SpringHill Suites	Crescent	12/27/2023		299		75,000
						1,125	$	289,750

(1)This property is a free-standing parking garage which serves both the Courtyard and Hyatt House hotels in Salt Lake City, Utah and the surrounding area, however, it is not affiliated with any brand.