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INVESTMENT IN HOTEL PROPERTIES, NET - Schedule of investment in hotel properties (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015
--- | --- | ---
Investment in Hotel Properties |  |
Investment in hotel properties at cost | $ 1,612,656 | $ 1,501,900
Less accumulated depreciation | (196,023) | (168,493)
Investment in hotel properties, net | 1,416,633 | 1,333,407
Land |  |
Investment in Hotel Properties |  |
Investment in hotel properties at cost | 161,914 | 149,996
Hotel buildings and improvements |  |
Investment in Hotel Properties |  |
Investment in hotel properties at cost | 1,311,348 | 1,222,017
Construction in progress |  |
Investment in Hotel Properties |  |
Investment in hotel properties at cost | 15,006 | 6,555
Furniture, fixtures and equipment |  |
Investment in Hotel Properties |  |
Investment in hotel properties at cost | $ 124,388 | $ 123,332

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- Definition Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.1(d)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 + Details
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