BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2026

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):


	June 30, 2026		December 31, 2025
Lodging buildings and improvements	$	2,869,352	$	2,885,464
Land	408,960		410,692
Furniture, fixtures and equipment	306,244		308,621
Construction in progress	26,502		26,111
Intangible assets	32,142		32,267
Real estate development loan	4,576		4,576
	3,647,776		3,667,731
Less accumulated depreciation and amortization	(1,077,070)		(1,027,364)
	$	2,570,706	$	2,640,367