INVESTMENT IN HOTEL PROPERTIES (Tables)

3 Months Ended

Mar. 31, 2014

INVESTMENT IN HOTEL PROPERTIES

Schedule of investment in hotel properties

Investment in hotel properties includes (in thousands):

	March 31,			December 31,
	2014			2013
Land	$	163,359		$	154,831
Hotel buildings and improvements	1,112,152			993,372
Construction in progress	33,188			24,242
Furniture, fixtures and equipment	151,955			142,976
	1,460,654			1,315,421
Less accumulated depreciation	(180,399		)	(165,454		)
	$	1,280,255		$	1,149,967