INVESTMENTS IN LODGING PROPERTY, NET - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended
Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Indefinite-lived intangible assets	$ 10,834		$ 10,834
Finite-lived intangible assets	29,120		29,120
Intangible assets	39,954		39,954
Less accumulated amortization	(10,283)		(9,251)
Intangible assets, net	29,671		30,703
Amortization expenses	1,000	$ 1,000
Tax incentives
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Finite-lived intangible assets	19,750		19,750
Key money
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Finite-lived intangible assets	9,370		9,370
Air rights
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Indefinite-lived intangible assets	10,754		10,754
Other
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Indefinite-lived intangible assets	$ 80		$ 80

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.

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Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.

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Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.

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