Investment in Hotel Properties

9 Months Ended

Sep. 30, 2015

Real Estate [Abstract]

INVESTMENT IN HOTEL PROPERTIES

Investment in Hotel Properties

Investment in hotel properties as of September 30, 2015 and December 31, 2014 consisted of the following (in thousands):

	September 30, 2015			December 31, 2014
Land	$	499,381		$	357,680
Buildings and improvements	2,214,220			1,987,050
Furniture, fixtures and equipment	201,299			183,016
Construction in progress	14,202			10,524
Investment in hotel properties	$	2,929,102		$	2,538,270
Less: Accumulated depreciation	(260,953		)	(194,580		)
Investment in hotel properties, net	$	2,668,149		$	2,343,690