Investment in Hotels

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

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



	December 31,
	2014			2013
Building and improvements	$	1,764,871		$	1,833,165
Furniture, fixtures and equipment	431,851			482,628
Land	232,141			234,447
Construction in progress	21,615			32,828
	2,450,478			2,583,068
Accumulated depreciation - Building and improvements	(661,758		)	(698,146		)
Accumulated depreciation - Furniture, fixtures and equipment	(188,929		)	(231,655		)
	$	1,599,791		$	1,653,267

In 2014, we retired fully depreciated furniture, fixtures and equipment aggregating approximately $68.9 million.

We invested $83.7 million and $101.4 million in additions and improvements to our consolidated hotels during the years ended December 31, 2014 and 2013, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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