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INVESTMENT IN HOTEL PROPERTIES, NET (Tables)
 9 Months Ended
Sep. 30, 2015
INVESTMENT IN HOTEL PROPERTIES, NET  
Schedule of investment in hotel properties, net

 

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

                                                                                                                                                                                                             

 

 

September 30,

 

December 31,

 

 

 

2015

 

2014

 

Land

 

$
141,024

 

$
164,570

 

Hotel buildings and improvements

 
1,126,104

 
1,202,451

 

Construction in progress

 
8,638

 
15,609

 

Furniture, fixtures and equipment

 
143,053

 
136,456

 

 

 

 

 

 

 

 

 
1,418,819

 
1,519,086

 

Less accumulated depreciation

 
(151,698

)
(179,671

)

 

 

 

 

 

 

 

 

$
1,267,121

 

$
1,339,415