Investment in Hotel Properties

3 Months Ended

Mar. 31, 2019

Property, Plant and Equipment [Abstract]

Investment in hotel properties consisted of the following (in thousands):



	March 31, 2019			December 31, 2018
Land and improvements	$	1,210,136		$	1,209,416
Buildings and improvements	4,717,087			4,694,490
Furniture, fixtures and equipment	825,041			813,797
	6,752,264			6,717,703
Accumulated depreciation	(1,396,719		)	(1,339,052		)
Investment in hotel properties, net	$	5,355,545		$	5,378,651

For the three months ended March 31, 2019 and 2018, the Company recognized depreciation expense related to its investment in hotel properties of approximately $57.7 million and $58.8 million, respectively.