Investment in Hotel Properties, net (Tables)

9 Months Ended

Sep. 30, 2020

Investments, All Other Investments [Abstract]

Investment in Hotel Properties

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

	September 30, 2020		December 31, 2019
Land and improvements	$	296,905	$	296,884
Building and improvements	1,233,988		1,216,849
Furniture, fixtures and equipment	85,246		81,707
Renovations in progress	15,281		31,589
	1,631,420		1,627,029
Less: accumulated depreciation	(310,655)		(279,913)
Investment in hotel properties, net	$	1,320,765	$	1,347,116