BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Schedule of Estimated Useful Lives of Hotel Properties and Related Assets

We generally depreciate our lodging properties and related assets using the straight-line method over their estimated useful lives as follows:

 

Classification	Estimated Useful Lives
Buildings and improvements	6 to 40 years
Furniture, fixtures and equipment	2 to 15 years

Investments in lodging property, net at December 31, 2024 and 2023 include (in thousands):

	2024		2023
Lodging buildings and improvements	$	2,867,256	$	2,798,667
Land	415,149		375,413
Furniture, fixtures and equipment	296,476		269,682
Construction in progress	35,294		41,359
Intangible assets	32,267		39,954
Real estate development loan	4,576		4,176
	3,651,018		3,529,251
Less - accumulated depreciation and amortization	(904,678)		(792,276)
	$	2,746,340	$	2,736,975