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INVESTMENT IN HOTEL PROPERTIES, NET - Schedule of investment in hotel properties (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017
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Investment in Hotel Properties |  |
Investment in hotel properties at cost | $ 2,334,974 | $ 2,350,559
Less - accumulated depreciation and amortization | (320,387) | (291,067)
Investment in hotel properties, net | 2,014,587 | 2,059,492
Land |  |
Investment in Hotel Properties |  |
Investment in hotel properties at cost | 265,699 | 272,932
Hotel buildings and improvements |  |
Investment in Hotel Properties |  |
Investment in hotel properties at cost | 1,850,655 | 1,868,273
Intangible assets |  |
Investment in Hotel Properties |  |
Investment in hotel properties at cost | 22,764 | 22,764
Construction in progress |  |
Investment in Hotel Properties |  |
Investment in hotel properties at cost | 15,410 | 12,464
Furniture, fixtures and equipment |  |
Investment in Hotel Properties |  |
Investment in hotel properties at cost | $ 180,446 | $ 174,126

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