v3.26.3
Note 5 - Investment in Hotel Properties
9 Months Ended
Sep. 30, 2026
Notes to Financial Statements  
Real Estate Disclosure [Text Block]

5.

Investment in Hotel Properties

 

Investment in hotel properties, net

 

Investment in hotel properties, net as of  September 30, 2026 and  December 31, 2025 consisted of the following (in thousands):

 

  

September 30, 2026

  

December 31, 2025

 

Land and improvements

 $277,694  $268,546 

Building and improvements

  1,257,216   1,174,132 

Furniture, fixtures and equipment

  105,134   87,528 

Finance lease assets

  43,906   43,840 

Renovations in progress

  10,783   11,718 
   1,694,733   1,585,764 

Less accumulated depreciation and amortization

  (525,214)  (478,874)

Investment in hotel properties, net

 $1,169,519  $1,106,890 

 

 

 

Investment in hotel properties under development

 

We are developing a Home2 Suites by Hilton hotel in Portland, ME on a parcel of land owned by us. We have incurred $4.5 million of development costs through September 30, 2026.