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Investment in Hotel Properties (Tables)
 12 Months Ended
Dec. 31, 2013
Real Estate [Abstract]  
Schedule of Investment in hotel properties
Investment in hotel properties as of December 31, 2013 and December 31, 2012 consisted of the following (in thousands):
 
 
December 31,
2013
 
December 31, 2012
Land
$
272,661

 
$
236,287

Buildings and improvements
1,437,593

 
1,141,347

Furniture, fixtures and equipment
135,547

 
107,938

Construction in progress
4,138

 
9,595

Investment in hotel properties
$
1,849,939

 
$
1,495,167

Less: Accumulated depreciation
(132,328
)
 
(77,938
)
Investment in hotel properties, net
$
1,717,611

 
$
1,417,229