Inventory

12 Months Ended

Dec. 31, 2020

Inventory [Abstract]

Inventory

6. Inventory

Our VOI inventory consists of the following (in thousands):

	As of December 31,
	2020		2019
Completed VOI units	$	268,686	$	269,847
Construction-in-progress		—		3,946
Real estate held for future development		78,436		73,144
	$	347,122	$	346,937

The interest expense reflected in our consolidated statements of operations and comprehensive income is net of capitalized interest. Interest capitalized to VOI inventory was $0.1 million, $0.5 million and $1.3 million at December 31, 2020, 2019, and 2018, respectively.