INVESTMENT IN HOTEL PROPERTIES (Tables)

12 Months Ended

Dec. 31, 2013

INVESTMENT IN HOTEL PROPERTIES

Schedule of investment in hotel properties

Investment in hotel properties at December 31, 2013 and 2012 include (in thousands):

	2013		2012
Land	$	154,831	$	105,571
Hotel buildings and improvements	993,372		649,699
Construction in progress	24,242		—
Furniture, fixtures and equipment	142,976		124,385
	1,315,421		879,655
Less accumulated depreciation	165,454		145,293
	$	1,149,967	$	734,362