v3.25.1
Investment in Hotel Properties
3 Months Ended
Mar. 31, 2025
Investment in Hotel Properties  
Investment in Hotel Properties

3. Investment in Hotel Properties

Investment in hotel properties, net consisted of the following (in thousands):

March 31,

December 31,

    

2025

    

2024

(unaudited)

Land

$

645,884

$

645,884

Buildings and improvements

2,849,713

2,824,364

Furniture, fixtures and equipment

462,531

445,696

Intangible assets

44,063

44,063

Construction in progress

136,355

147,250

Investment in hotel properties, gross

4,138,546

4,107,257

Accumulated depreciation and amortization

(1,283,358)

(1,251,225)

Investment in hotel properties, net

$

2,855,188

$

2,856,032