Investment in Hotel Properties

12 Months Ended

Dec. 31, 2014

Real Estate [Abstract]

INVESTMENT IN HOTEL PROPERTIES

INVESTMENT IN HOTEL PROPERTIES

Investment in hotel properties as of December 31, 2014 and December 31, 2013 consisted of the following (in thousands):

	December 31, 2014			December 31, 2013
Land	$	357,680		$	272,661
Buildings and improvements	1,987,050			1,437,593
Furniture, fixtures and equipment	183,016			135,547
Construction in progress	10,524			4,138
Investment in hotel properties	$	2,538,270		$	1,849,939
Less: Accumulated depreciation	(194,580		)	(132,328		)
Investment in hotel properties, net	$	2,343,690		$	1,717,611

As of December 31, 2014, buildings and improvements include capital lease asset of $12.2 million and accumulated depreciation includes amounts related to capital lease asset of $0.2 million. Depreciation of capital lease asset is included in depreciation and amortization expense in the accompanying consolidated statements of operations and comprehensive income for all periods presented.