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Investment in Hotel Properties (Tables)
 6 Months Ended
Jun. 30, 2018
Investments Schedule [Abstract]  
Investment in Hotel Properties
Investment in hotel properties as of June 30, 2018 and December 31, 2017 consisted of the following (in thousands):
 
 
June 30, 2018
 
December 31, 2017
Land and improvements
$
291,053

 
$
291,054

Building and improvements
1,146,714

 
1,140,477

Furniture, fixtures and equipment
65,780

 
63,443

Renovations in progress
16,998

 
13,262

 
1,520,545

 
1,508,236

Less: accumulated depreciation
(211,974
)
 
(188,154
)
Investment in hotel properties, net
$
1,308,571

 
$
1,320,082