| Schedule of investment in hotel properties |
Investment in hotel properties, net consisted of the following (in thousands): | | | | | | | | | | | | | | | | June 30, | | December 31, | | | 2026 | | 2025 | | | (unaudited) | | | | Land | | $ | 524,658 | | $ | 641,358 | Buildings and improvements | | | 2,693,470 | | | 2,909,921 | Furniture, fixtures and equipment | | | 442,491 | | | 481,457 | Intangible assets | | | 43,938 | | | 43,937 | Construction in progress | | | 48,189 | | | 48,486 | Investment in hotel properties, gross | | | 3,752,746 | | | 4,125,159 | Accumulated depreciation and amortization | | | (1,251,356) | | | (1,353,979) | Investment in hotel properties, net | | $ | 2,501,390 | | $ | 2,771,180 |
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