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Investment in Hotel Properties (Tables)
3 Months Ended
Mar. 31, 2022
Investments, All Other Investments [Abstract]  
Investment in Hotel Properties
Investment in hotel properties, net as of March 31, 2022 and December 31, 2021 consisted of the following (in thousands):
 
March 31, 2022December 31, 2021
Land and improvements$302,640 $291,768 
Building and improvements1,344,843 1,258,845 
Furniture, fixtures and equipment102,299 91,110 
Renovations in progress5,553 7,869 
1,755,335 1,649,592 
Less: accumulated depreciation(381,692)(366,722)
Investment in hotel properties, net$1,373,643 $1,282,870