Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2019

(in thousands)



			Initial Cost to Company				Costs Capitalized Subsequent to Acquisition ^(a)		(Decrease) Increase In Net Investments ^(b)			Gross Amount at which Carried at Close of Period ^(c)										Life on which Depreciation in Latest Statement of Income is Computed
Description	Encumbrances		Land		Buildings		Costs Capitalized Subsequent to Acquisition ^(a)		(Decrease) Increase In Net Investments ^(b)			Land		Buildings		Total		Accumulated Depreciation ^(c)		Date of Construction	Date Acquired
Marriott Sawgrass Golf Resort & Spa	$	88,747	$	26,400	$	93,551	$	23,755	$	(7,710	)	$	26,400	$	109,596	$	135,996	$	17,482	1987	Apr 2015	4 – 40 yrs.
Courtyard Nashville Downtown	54,965		8,500		47,443		2,291		51			8,500		49,785		58,285		6,359		1998	May 2015	4 – 40 yrs.
Embassy Suites by Hilton Denver-Downtown/Convention Center	98,073		13,000		153,358		2,921		—			13,000		156,279		169,279		16,814		2010	Nov 2015	4 – 40 yrs.
Seattle Marriott Bellevue	97,895		19,500		149,111		391		—			19,500		149,502		169,002		14,712		2015	Jan 2016	4 – 40 yrs.
Le Méridien Arlington	34,755		8,900		43,191		1,593		—			8,900		44,784		53,684		4,363		2007	Jun 2016	4 – 40 yrs.
San Jose Marriott	87,460		7,509		138,319		1,635		—			7,509		139,954		147,463		12,319		2003	Jul 2016	4 – 40 yrs.
San Diego Marriott La Jolla	84,422		20,264		110,300		5,365		32			20,264		115,697		135,961		10,554		1985	Jul 2016	4 – 40 yrs.
Renaissance Atlanta Midtown Hotel	48,589		8,600		64,441		3,448		—			8,600		67,889		76,489		5,955		2009	Aug 2016	4 – 40 yrs.
Ritz-Carlton San Francisco	142,923		98,605		170,372		1,620		—			98,605		171,992		270,597		13,116		1991	Dec 2016	4 – 40 yrs.
Charlotte Marriott City Center	102,636		24,800		127,287		246		—			24,800		127,533		152,333		8,286		1983	Jun 2017	4 – 40 yrs.
	$	840,465	$	236,078	$	1,097,373	$	43,265	$	(7,627	)	$	236,078	$	1,133,011	$	1,369,089	$	109,960

___________


(a)	Consists of the cost of improvements subsequent to acquisition, including construction costs primarily for renovations pursuant to our contractual obligations.


(b)	The decrease in net investment of the Marriott Sawgrass Golf Resort & Spa was related primarily to the net write-off of assets damaged by Hurricane Irma (Note 4).


(c)	A reconciliation of hotels and accumulated depreciation follows:

NOTES TO SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION

(in thousands)



	Reconciliation of Hotels
	Years Ended December 31,
	2019			2018		2017
Beginning balance	$	1,368,613		$	1,357,258	$	1,191,218
Improvements	3,664			11,250		18,587
(Write-off) write-up of assets damaged by hurricane (Note 4)	(3,170		)	105		(4,633		)
Write-off of fully depreciated assets	(18		)	—		—
Additions	—			—		152,086
Ending balance	$	1,369,089		$	1,368,613	$	1,357,258



	Reconciliation of Accumulated Depreciation for Hotels
	Years Ended December 31,
	2019			2018		2017
Beginning balance	$	78,078		$	47,221	$	18,506
Depreciation expense	31,900			30,857		28,715
Write-off of fully depreciated assets	(18		)	—		—
Ending balance	$	109,960		$	78,078	$	47,221

At December 31, 2019, the aggregate cost of real estate that we and our consolidated subsidiaries own for federal income tax purposes was approximately $1.5 billion.