Investment in Hotel Properties (Tables)

9 Months Ended

Sep. 30, 2023

Real Estate [Abstract]

Schedule of Investment in Hotel Properties

Investment in hotel properties as of September 30, 2023 and December 31, 2022 consisted of the following (in thousands):

	September 30, 2023		December 31, 2022
Land	$	824,872	$	897,756
Buildings and improvements	5,008,765		5,170,976
Furniture, fixtures and equipment	512,746		504,518
Finance lease asset	91,181		91,181
Construction in progress	19,249		11,961
	$	6,456,813	$	6,676,392
Right-of-use asset, operating leases	363,165		370,383
Investment in hotel properties	$	6,819,978	$	7,046,775
Less: Accumulated depreciation	(1,266,856)		(1,171,899)
Investment in hotel properties, net	$	5,553,122	$	5,874,876