Investment in Hotel Properties, net (Tables)

3 Months Ended

Mar. 31, 2020

Investments, All Other Investments [Abstract]

Investment in Hotel Properties

Investment in hotel properties, net as of March 31, 2020 and December 31, 2019 consisted of the following (in thousands):

	March 31, 2020		December 31, 2019
Land and improvements	$	296,888	$	296,884
Building and improvements	1,222,072		1,216,849
Furniture, fixtures and equipment	85,068		81,707
Renovations in progress	28,652		31,589
	1,632,680		1,627,029
Less: accumulated depreciation	(292,902)		(279,913)
Investment in hotel properties, net	$	1,339,778	$	1,347,116