BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2021

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, 2021 and 2020 include (in thousands):

 

	2021		2020
Land	$	323,276	$	319,603
Hotel buildings and improvements	2,127,782		2,066,986
Furniture, fixtures and equipment	167,245		173,351
Construction in progress	18,321		8,903
Intangible assets	10,834		11,231
Real estate development loan	27,595		16,508
	2,675,053		2,596,582
Less - accumulated depreciation	(583,080)		(490,636)
	$	2,091,973	$	2,105,946