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Investment in Hotel Properties
12 Months Ended
Dec. 31, 2011
Investment in Hotel Properties [Abstract]  
INVESTMENT IN HOTEL PROPERTIES

NOTE 4. INVESTMENT IN HOTEL PROPERTIES

Investment in hotel properties consisted of the following (in thousands):

 

     December 31,  
     2011     2010  

Land

   $ 190,197      $ 106,428   

Buildings and improvements

     887,217        460,988   

Furniture, fixtures and equipment

     86,138        37,966   
  

 

 

   

 

 

 

Investment in hotel properties

   $ 1,163,552      $ 605,382   

Less: Accumulated depreciation

     (36,068     (5,668
  

 

 

   

 

 

 

Investment in hotel properties, net

   $ 1,127,484      $ 599,714