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FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of fair value of interest rate swaps and caps The table on the following page presents our derivative instruments as of June 30, 2021 and December 31, 2020.
     Estimated Fair Value
     (Liability) Balance
Hedged DebtTypeStrike RateIndexEffective DateDerivative Contract Maturity DateNotional AmountJune 30, 2021December 31, 2020
Term Loan Instruments:        
Credit FacilitySwap1.341 %
1-Month LIBOR + 2.20%
October 3, 2019August 2, 2021150,000 $(165)$(1,070)
Credit Facility (1)Swap1.316 %
1-Month LIBOR + 2.20%
September 3, 2019August 2, 202143,900 (47)(307)
Credit FacilitySwap1.824 %
1-Month LIBOR + 2.20%
September 3, 2019August 10, 2022103,500 (1,944)(2,793)
Credit FacilitySwap1.824 %
1-Month LIBOR + 2.20%
September 3, 2019August 10, 2022103,500 (1,944)(2,793)
Credit FacilitySwap1.460 %
1-Month LIBOR + 2.00%
September 10, 2019September 10, 2024300,000 (8,790)(13,286)
        
Mortgages:        
Annapolis Waterfront Hotel, MDCap3.350 %
1-Month LIBOR +2.65%
May 1, 2018May 1, 202128,000 — — 
Hyatt, Union Square, New York, NYSwap1.870 %
1-Month LIBOR + 2.30%
June 7, 2019June 7, 202356,000 (1,743)(2,305)
Hilton Garden Inn Tribeca, New York, NYSwap1.768 %
1-Month LIBOR + 2.25%
July 25, 2019July 25, 202422,725 (869)(1,222)
Hilton Garden Inn Tribeca, New York, NYSwap1.768 %
1-Month LIBOR + 2.25%
July 25, 2019July 25, 202422,725 (869)(1,222)
Hilton Garden Inn 52nd Street, New York, NYSwap1.540 %
1-Month LIBOR + 2.30%
December 4, 2019December 4, 202244,325 (869)(1,186)
Courtyard, LA Westside, Culver City, CA (2)Swap0.495 %
1-Month LIBOR + 3.75%
June 1, 2020August 1, 202135,000 (12)(75)
     $(17,252)$(26,259)

(1) During the six months ended June 30, 2021, we dedesignated this swap as a cash flow hedge and recorded expense of $330 accordingly.
(2) Subsequent to June 30, 2021, we entered into an interest rate cap for this debt, which is effective on August 1, 2021.