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 |
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