Investment in Hotel Properties (Tables)

3 Months Ended

Mar. 31, 2025

Real Estate [Abstract]

Schedule of Investment in Hotel Properties

Investment in hotel properties as of March 31, 2025 and December 31, 2024 consisted of the following (in thousands):

	March 31, 2025		December 31, 2024
Land	$	800,165	$	800,143
Buildings and improvements	5,078,826		5,062,727
Furniture, fixtures and equipment	544,814		539,616
Finance lease asset	91,181		91,181
Construction in progress	6,004		5,066
	$	6,520,990	$	6,498,733
Right-of-use asset, operating leases	348,749		351,150
Investment in hotel properties	$	6,869,739	$	6,849,883
Less: Accumulated depreciation	(1,588,140)		(1,530,854)
Investment in hotel properties, net	$	5,281,599	$	5,319,029