Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2017

Net investment in property and equipment as of December 31, 2017 and 2016, consists of the following (in thousands):



	December 31, 2017			December 31, 2016
Hotel properties:
Land and site improvements	$	1,286,784		$	1,303,752
Construction in process	2,453			—
Building and improvements	2,934,048			2,940,615
Furniture, fixtures and equipment	649,487			612,855
Total hotel properties	4,872,772			4,857,222
Corporate furniture, fixtures, equipment, software and other	21,486			20,076
Undeveloped land parcel	1,675			1,675
Total cost	4,895,933			4,878,973
Less accumulated depreciation:
Hotel properties	(1,128,465		)	(962,400		)
Corporate furniture, fixtures, equipment, software and other	(14,334		)	(11,269		)
Total accumulated depreciation	(1,142,799		)	(973,669		)
Property and equipment—net	$	3,753,134		$	3,905,304

Net investment in property and equipment as of December 31, 2017 and 2016, consists of the following (in thousands):



	December 31, 2017			December 31, 2016
Hotel properties:
Land and site improvements	$	1,289,152		$	1,304,503
Construction in process	2,453			—
Building and improvements	2,970,404			2,960,158
Furniture, fixtures and equipment	655,120			607,682
Total hotel properties	4,917,129			4,872,343
Undeveloped land parcel	1,675			1,675
Total cost	4,918,804			4,874,018
Less accumulated depreciation	(1,143,164		)	(959,449		)
Property and equipment - net	$	3,775,640		$	3,914,569