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Investment in Hotel Properties
3 Months Ended
Mar. 31, 2012
Real Estate [Abstract]  
INVESTMENT IN HOTEL PROPERTIES
Investment in Hotel Properties
Investment in hotel properties as of March 31, 2012 and December 31, 2011 consisted of the following (in thousands):
 
 
March 31,
2012
 
December 31, 2011
Land
$
190,197

 
$
190,197

Buildings and improvements
896,210

 
887,217

Furniture, fixtures and equipment
92,972

 
86,138

Investment in hotel properties
$
1,179,379

 
$
1,163,552

Less: Accumulated depreciation
(45,528
)
 
(36,068
)
Investment in hotel properties, net
$
1,133,851

 
$
1,127,484