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FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Interest Rate Swaps and Caps The following table presents our derivative instruments as of September 30, 2022 and December 31, 2021:
    Estimated Fair Value
      (Liability) Asset Balance
Hedged DebtTypeStrike RateIndexEffective DateDerivative Contract Maturity DateNotional AmountSeptember 30, 2022December 31, 2021
Term Loan Instruments:        
Credit FacilitySwap1.824 %
1-Month LIBOR + 2.20%
September 3, 2019August 10, 2022103,500 $— $(970)
Credit FacilitySwap1.824 %
1-Month LIBOR + 2.20%
September 3, 2019August 10, 2022103,500 — (970)
Credit Facility(1)
Swap1.341 %
1-Month SOFR + 2.50%
August 30, 2022September 10, 2024270,000 14,204 (3,729)
Credit FacilitySwap1.279 %
1-Month SOFR + 2.50%
September 6, 2022August 4, 202430,000 1,544 — 
        
Mortgages:        
Hyatt, Union Square, New York, NYSwap1.870 %
1-Month LIBOR + 2.30%
June 7, 2019June 7, 202356,000 902 (987)
Hilton Garden Inn Tribeca, New York, NYSwap1.768 %
1-Month LIBOR + 2.25%
July 25, 2019July 25, 202422,725 1,019 (460)
Hilton Garden Inn Tribeca, New York, NYSwap1.768 %
1-Month LIBOR + 2.25%
July 25, 2019July 25, 202422,725 1,019 (460)
Hilton Garden Inn 52nd Street, New York, NYSwap1.540 %
1-Month LIBOR + 2.30%
December 4, 2019December 4, 202244,325 148 (458)
Courtyard, LA Westside, Culver City, CA(2)
Cap2.500 %1-Month LIBORAugust 1, 2021August 1, 202435,000 — 92 
     $18,836 $(7,942)

(1) This swap was amended on August 26, 2022 to replace the 1-month LIBOR index with a 1-month SOFR index, and $30,000 of the notional amount was terminated.
(2) This cap was terminated during the three months ended September 30, 2022 as the hotel was sold and the underlying debt was paid off.