Investment in Hotel Properties (Tables)

3 Months Ended

Mar. 31, 2024

Real Estate [Abstract]

Schedule of Investment in Hotel Properties

Investment in hotel properties as of March 31, 2024 and December 31, 2023 consisted of the following (in thousands):

	March 31, 2024		December 31, 2023
Land	$	810,671	$	810,633
Buildings and improvements	5,023,153		5,005,894
Furniture, fixtures and equipment	517,028		511,451
Finance lease asset	91,181		91,181
Construction in progress	48,190		27,123
	$	6,490,223	$	6,446,282
Right-of-use asset, operating leases	358,357		360,761
Investment in hotel properties	$	6,848,580	$	6,807,043
Less: Accumulated depreciation	(1,373,130)		(1,316,267)
Investment in hotel properties, net	$	5,475,450	$	5,490,776