Investment in Hotel Properties, net (Tables)

6 Months Ended

Jun. 30, 2020

Investments, All Other Investments [Abstract]

Investment in Hotel Properties

Investment in hotel properties, net as of June 30, 2020 and December 31, 2019 consisted of the following (in thousands):

	June 30, 2020		December 31, 2019
Land and improvements	$	296,905	$	296,884
Building and improvements	1,232,263		1,216,849
Furniture, fixtures and equipment	88,846		81,707
Renovations in progress	15,809		31,589
	1,633,823		1,627,029
Less: accumulated depreciation	(305,106)		(279,913)
Investment in hotel properties, net	$	1,328,717	$	1,347,116