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INVESTMENT IN HOTEL PROPERTIES, NET

3 Months Ended

Mar. 31, 2015

NOTE 4 - INVESTMENT IN HOTEL PROPERTIES, NET

Investment in hotel properties, net are as follows (in thousands):

	March 31,		December 31,
	2015		2014
Land	$	163,578	$	164,570
Hotel buildings and improvements	1,203,228		1,202,451
Construction in progress	12,676		15,609
Furniture, fixtures and equipment	151,389		136,456
	1,530,871		1,519,086
Less accumulated depreciation	194,206		179,671
	$	1,336,665	$	1,339,415

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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