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Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Franchise Rights and Other Identifiable Intangible Assets | The components of the Company's intangible assets, including intangibles established from the acquisition of Radisson Hotels Americas (refer to Note 24), are as follows:
|  | As of December 31, 2022 |  | As of December 31, 2021
(in thousands) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value
Franchise Rights(1) |  | $ | 352,665 |  |  | $ | 104,836 |  |  | $ | 247,829 |  |  | $ | 190,641 |  |  | $ | 105,604 |  |  | $ | 85,037 |
Franchise Agreement Acquisition Costs(2) |  | 307,169 |  |  | 68,085 |  |  | 239,084 |  |  | 263,718 |  |  | 66,373 |  |  | 197,345 |
Trademarks & Other(3) |  | 19,236 |  |  | 12,888 |  |  | 6,348 |  |  | 16,152 |  |  | 12,403 |  |  | 3,749 |
Capitalized SaaS Licenses(4) |  | 17,807 |  |  | 15,592 |  |  | 2,215 |  |  | 14,773 |  |  | 11,529 |  |  | 3,244 |
Total amortizing intangible assets |  | 696,877 |  |  | 201,401 |  |  | 495,476 |  |  | 485,284 |  |  | 195,909 |  |  | 289,375 |
Trademarks (non-amortizing)(5) |  | 246,714 |  |  | — |  |  | 246,714 |  |  | 23,014 |  |  | — |  |  | 23,014 |
Total intangible assets |  | $ | 943,591 |  |  | $ | 201,401 |  |  | $ | 742,190 |  |  | $ | 508,298 |  |  | $ | 195,909 |  |  | $ | 312,389 |
(1)Represents the purchase price assigned to long-term franchise contracts. The unamortized balance relates primarily to franchise rights established from the Radisson Transaction, as well as WoodSpring franchise rights active since acquisition. The franchise rights are being amortized over lives ranging from 12 to 15 years on a straight-line basis. (2)Represents certain payments to customers as an incentive to enter into new franchise agreements generally amortized as an offset to royalty fees and marketing and reservation system fees over lives ranging from 5 to 30 years on a straight-line basis commencing at hotel opening. Gross and accumulated amortization amounts are written off upon full amortization recognition, including at termination of an associated franchise agreement. Refer to Note 2 for discussion of impairments recognized. (3)Represents definite-lived trademarks and other various amortizing assets, including management agreements, generally amortized on a straight-line basis over a period of 10 years to 30 years. (4)Represents software licenses capitalized under a SaaS agreement which are generally amortized on a straight-line basis over an average period of 3 years. (5)Represents the purchase price assigned to the Radisson, WoodSpring and Suburban trademarks established at the time of their respective acquisitions. The trademarks are expected to generate future cash flows for an indefinite period of time and therefore are non-amortizing.
Schedule of Intangible Assets, Estimated Annual Amortization Expense | The estimated annual amortization expense related to the Company’s amortizing intangible assets for each of the next five years is as follows:
(in thousands) |
2023 | $ | 41,092 |
2024 | $ | 39,044 |
2025 | $ | 38,497 |
2026 | $ | 37,740 |
2027 | $ | 36,608 |

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