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Investment in Hotel Properties
 9 Months Ended
Sep. 30, 2013
Real Estate [Abstract]  
INVESTMENT IN HOTEL PROPERTIES
Investment in Hotel Properties
Investment in hotel properties as of September 30, 2013 and December 31, 2012 consisted of the following (in thousands):
 
 
September 30,
2013
 
December 31, 2012
Land
$
271,936

 
$
236,287

Buildings and improvements
1,317,050

 
1,141,347

Furniture, fixtures and equipment
128,507

 
107,938

Construction in progress
3,668

 
9,595

Investment in hotel properties
$
1,721,161

 
$
1,495,167

Less: Accumulated depreciation
(117,925
)
 
(77,938
)
Investment in hotel properties, net
$
1,603,236

 
$
1,417,229