Investment in Hotel Properties

12 Months Ended

Dec. 31, 2015

Real Estate [Abstract]

Investment in Hotel Properties

Investment in Hotel Properties

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

	December 31, 2015			December 31, 2014
Land	$	499,381		$	357,680
Buildings and improvements	2,225,168			1,987,050
Furniture, fixtures and equipment	205,890			183,016
Construction in progress	26,322			10,524
Investment in hotel properties	$	2,956,761		$	2,538,270
Less: Accumulated depreciation	(283,177		)	(194,580		)
Investment in hotel properties, net	$	2,673,584		$	2,343,690

As of December 31, 2015 and 2014, buildings and improvements include capital lease asset of $12.2 million and $12.2 million, respectively, and accumulated depreciation includes amounts related to capital lease asset of $0.4 million and $0.2 million, respectively. 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.