BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2025

We generally depreciate our lodging properties and related assets using the straight-line method over their estimated useful lives as follows:


Classification						Estimated Useful Lives
Buildings and improvements						6 to 40 years
Furniture, fixtures and equipment						2 to 15 years

Investments in lodging property, net is as follows (in thousands):


	March 31, 2025		December 31, 2024
Lodging buildings and improvements	$	2,875,145	$	2,867,256
Land	415,574		415,574
Furniture, fixtures and equipment	299,578		296,476
Construction in progress	42,101		35,294
Intangible assets	32,267		32,267
Real estate development loan	4,576		4,576
	3,669,241		3,651,443
Less accumulated depreciation and amortization	(941,731)		(904,678)
	$	2,727,510	$	2,746,765