BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Schedule of estimated useful lives of hotel properties and related assets

We generally depreciate our hotel 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

Investment in hotel properties, net at December 31, 2020 and 2019 include (in thousands):

	2020		2019
Land	$	319,603	$	319,603
Hotel buildings and improvements	2,066,986		2,049,384
Furniture, fixtures and equipment	173,351		173,128
Construction in progress	8,903		9,388
Intangible assets	11,231		11,231
Real estate development loan	16,508		5,485
	2,596,582		2,568,219
Less - accumulated depreciation	(490,636)		(383,987)
	$	2,105,946	$	2,184,232