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Relationships with Managers and Franchisors (Tables) | 9 Months Ended
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Sep. 30, 2020
Real Estate [Abstract] |
Schedule of Terms of Hotel Franchise Agreements | We terminated the existing management agreements with Marriott and entered into new franchise agreements with Marriott for the following hotel properties:
Hotel |  | Franchise Effective Date |  | Franchise Expiration Date |  | Franchise Fees
Atlanta Marriott Alpharetta |  | September 9, 2020 |  | September 9, 2040 (1) |  | 6% of gross room sales and 3% of gross food and beverage sales (2)
Salt Lake City Marriott Downtown at City Creek |  | September 3, 2020 |  | September 3, 2040 (1) |  | 6% of gross room sales and 3% of gross food and beverage sales (2)
The Lodge at Sonoma Renaissance Resort & Spa |  | September 1, 2020 |  | December 31, 2035 |  | 5% of gross room sales (2)
Renaissance Charleston Historic District Hotel |  | September 23, 2020 |  | December 31, 2031 |  | 5% of gross room sales (3)
Courtyard New York Manhattan/Fifth Avenue |  | October 1, 2020 |  | December 28, 2035 |  | 6% of gross room sales
_______________________ (1)The franchise agreement may be extended at Marriott's option for one 10-year term. (2)The franchise agreement limits total franchise fees prior to December 31, 2020 to 3% of gross revenues. (3)The franchise agreement limits total franchise fees prior to December 31, 2020 to 3.5% of gross revenues.

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