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Investment in Hotel Properties
 6 Months Ended
Jun. 30, 2019
Property, Plant and Equipment [Abstract]  
Investment in Hotel Properties
Investment in Hotel Properties
 
Investment in hotel properties consisted of the following (in thousands):
 
June 30, 2019
 
December 31, 2018
Land and improvements
$
499,839

 
$
532,490

Buildings and improvements
1,440,395

 
1,555,132

Furniture, fixtures and equipment
123,375

 
125,207

 
2,063,609

 
2,212,829

Accumulated depreciation
(115,195
)
 
(89,406
)
Investment in hotel properties, net
$
1,948,414

 
$
2,123,423


 
For the three and six months ended June 30, 2019, the Company recognized depreciation expense related to its investment in hotel properties of approximately $18.2 million and $36.4 million, respectively. For the three and six months ended June 30, 2018, the Company recognized depreciation expense related to its investment in hotel properties of approximately $20.3 million and $40.9 million, respectively.