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INVESTMENT IN HOTEL PROPERTIES, NET (Tables)
 3 Months Ended
Mar. 31, 2020
Business Combinations [Abstract]  
Schedule of investment in hotel properties, net
Investment in hotel properties, net is as follows (in thousands):
 
 
 
March 31, 2020
 
December 31, 2019
Hotel buildings and improvements
 
$
2,050,923

 
$
2,049,384

Land
 
319,603

 
319,603

Furniture, fixtures and equipment
 
180,868

 
173,128

Construction in progress
 
10,229

 
9,388

Intangible assets
 
11,231

 
11,231

Real estate development loan
 
7,433

 
5,485

 
 
2,580,287

 
2,568,219

Less - accumulated depreciation and amortization
 
(410,973
)
 
(383,987
)
 
 
$
2,169,314

 
$
2,184,232
Schedule of pro forma information
The unaudited condensed pro forma financial information for the 72 hotel properties owned at March 31, 2020 for the three months ended March 31, 2020 and 2019 is as follows (in thousands, except per share):
 
 
 
For the
Three Months Ended
March 31,
 
 
2020
 
2019
Revenues
 
$
108,385

 
$
141,756

Income from hotel operations
 
$
29,725

 
$
53,808

Net (loss) income (1)
 
$
(16,213
)
 
$
15,603

Net (loss) income attributable to common stockholders, net of amount allocated to participating securities (1)
 
$
(19,111
)
 
$
8,814

Basic and diluted net (loss) income per share attributable to common stockholders (1)
 
$
(0.18
)
 
$
0.08


(1)
Pro forma amounts include depreciation expense, property tax expense, interest expense, income tax expense, loss on impairment of assets and other corporate expenses totaling $56.6 million and $47.9 million for the three months ended March 31, 2020 and 2019, respectively
Schedule of asset held for sale