Net Investments in Hotels (Tables)

6 Months Ended

Jun. 30, 2019

Real Estate [Abstract]

Schedule of Hotel Properties

Net investments in hotels are summarized as follows (in thousands):

	June 30, 2019			December 31, 2018
Buildings	$	1,550,476		$	1,552,365
Land	355,082			355,082
Building and site improvements	160,142			149,323
Furniture, fixtures and equipment	105,522			108,907
Construction in progress	14,351			10,298
Hotels, at cost	2,185,573			2,175,975
Less: Accumulated depreciation	(297,471		)	(266,323		)
Net investments in hotels	$	1,888,102		$	1,909,652

Schedule of Weather Related Disruptions

Below is a summary of the items that comprised the gain recognized related to Hurricane Irma (in thousands):

	Three Months Ended June 30,
	2019			2018
Net write-off (write-up) of fixed assets	$	112		$	(198	)
Remediation work performed	—			709
Property damage insurance receivables	(344		)	(1,007		)
Gain on hurricane-related property damage	$	(232	)	$	(496	)

	Six Months Ended June 30,
	2019			2018
Net write-off of fixed assets	$	2,059		$	5,460
Remediation work performed	—			6,506
Property damage insurance receivables	(2,059		)	(13,031		)
Gain on hurricane-related property damage	$	—		$	(1,065	)

	Three Months Ended June 30,
	2019			2018
Net write-off of fixed assets	$	543		$	150
Remediation work performed	—			486
(Increase) decrease in property damage insurance receivables	(543		)	265
Loss on hurricane-related property damage (a)	$	—		$	901

	Six Months Ended June 30,
	2019			2018
Net write-off (write-up) of fixed assets	$	3,586		$	(426	)
Remediation work performed	—			110
(Increase) decrease in property damage insurance receivables	(3,596		)	905
(Gain) loss on hurricane-related property damage (a)	$	(10	)	$	589

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(a) Includes losses totaling $0.7 million and $1.3 million during the three and six months ended June 30, 2018, respectively, resulting from pre-existing damage (which was discovered as a result of the hurricane and is not covered by insurance).