Investment in Hotels

12 Months Ended

Dec. 31, 2011

Investment in Hotels

Investment in hotels consisted of the following (in thousands):



	December 31,
	2011			2010
Building and improvements	$	2,104,522		$	2,179,926
Furniture, fixtures and equipment	516,690			525,448
Land	273,000			249,647
Construction in progress	47,478			13,322
	2,941,690			2,968,343
Accumulated depreciation	(987,895		)	(982,564		)
	$	1,953,795		$	1,985,779

In 2011, we wrote off fully depreciated furniture, fixtures and equipment aggregating approximately $29.4 million.

We invested $89.0 million and $38.9 million in additions and improvements to our consolidated hotels during the years ended December 31, 2011 and 2010, respectively.

- Definition

The entire disclosure for real estate and accumulated depreciation. This may include a schedule that describes the property and lists the initial cost of land, buildings and improvements, improvements and carrying costs capitalized after acquisition, and the total carrying cost for land, buildings and improvements for each property and in aggregate. The schedule also lists the accumulated depreciation for each property and in aggregate, the date each property was constructed and acquired, the useful life used to calculate depreciation and any encumbrances on the properties. The entity provides a reconciliation of the carrying amount of real estate from the beginning of the period to the end of the period. Any real estate investments that have been written down or reserved against are described, including the basis of the write-down. A material amount of intercompany profit in the total carrying amount of real estate is disclosed. The aggregate cost of all real estate investments for federal income tax purposes is also disclosed.

+ References+ Details