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Investment in Hotel Properties
 9 Months Ended
Sep. 30, 2016
Real Estate [Abstract]  
Investment in Hotel Properties
Investment in Hotel Properties
Investment in hotel properties as of September 30, 2016 and December 31, 2015 consisted of the following (in thousands):
 
 
September 30,
2016
 
December 31, 2015
Land
$
470,301

 
$
499,381

Buildings and improvements
2,185,498

 
2,225,168

Furniture, fixtures and equipment
221,319

 
205,890

Construction in progress
14,077

 
26,322

Investment in hotel properties
$
2,891,195

 
$
2,956,761

Less: Accumulated depreciation
(332,961
)
 
(283,177
)
Investment in hotel properties, net
$
2,558,234

 
$
2,673,584