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<link:definition>001 - Document - DOCUMENT AND ENTITY INFORMATION</link:definition>
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<link:definition>002 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS</link:definition>
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<link:definition>003 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical]</link:definition>
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<link:definition>004 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS</link:definition>
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<link:definition>005 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS</link:definition>
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<link:definition>006 - Disclosure - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES</link:definition>
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<link:definition>007 - Disclosure - INVESTMENT IN HOTEL, NET</link:definition>
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<link:definition>008 - Disclosure - INVESTMENT IN REAL ESTATE, NET</link:definition>
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<link:definition>009 - Disclosure - PROPERTY HELD FOR SALE AND DISCONTINUED OPERATIONS</link:definition>
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<link:definition>010 - Disclosure - INVESTMENT IN MARKETABLE SECURITIES</link:definition>
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<link:definition>011 - Disclosure - OTHER INVESTMENTS, NET</link:definition>
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<link:definition>012 - Disclosure - ACCOUNTS PAYABLE AND OTHER LIABILITIES</link:definition>
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<link:definition>013 - Disclosure - FAIR VALUE MEASUREMENTS</link:definition>
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<link:definition>014 - Disclosure - STOCK BASED COMPENSATION PLANS</link:definition>
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<link:definition>015 - Disclosure - SEGMENT INFORMATION</link:definition>
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<link:definition>016 - Disclosure - RELATED PARTY TRANSACTIONS</link:definition>
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