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Investment in Hotel Properties
 3 Months Ended
Mar. 31, 2017
Real Estate [Abstract]  
Investment in Hotel Properties
Investment in Hotel Properties
Investment in hotel properties as of March 31, 2017 and December 31, 2016 consisted of the following (in thousands):
 
 
March 31,
2017
 
December 31, 2016
Land
$
470,301

 
$
503,571

Buildings and improvements
2,226,686

 
2,287,104

Furniture, fixtures and equipment
234,917

 
231,211

Construction in progress
14,682

 
9,253

Investment in hotel properties
$
2,946,586

 
$
3,031,139

Less: Accumulated depreciation
(383,428
)
 
(358,485
)
Investment in hotel properties, net
$
2,563,158

 
$
2,672,654