Investment in Hotel Properties (Tables)

12 Months Ended

Dec. 31, 2019

Investments Schedule [Abstract]

Investment in Hotel Properties

Investment in hotel properties, net as of December 31, 2019 and 2018 consisted of the following (in thousands):

	December 31, 2019		December 31, 2018
Land and improvements	$	296,884	$	296,253
Building and improvements	1,216,849		1,214,780
Furniture, fixtures and equipment	81,707		73,411
Renovations in progress	31,589		25,370
	1,627,029		1,609,814
Less: accumulated depreciation	(279,913)		(236,041)
Investment in hotel properties, net	$	1,347,116	$	1,373,773