Investment in Hotel Properties (Tables)

6 Months Ended

Jun. 30, 2014

Investment in Hotel Properties

Schedule of investment in hotel properties

Investment in hotel properties includes (in thousands):

	September 30, 2014			December 31, 2013
Land	$	163,578		$	154,831
Hotel buildings and improvements	1,202,645			993,372
Construction in progress	6,763			24,242
Furniture, fixtures and equipment	178,440			142,976
	1,551,426			1,315,421
Less accumulated depreciation	(208,227		)	(165,454		)
	$	1,343,199		$	1,149,967