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Leases | 6 Months Ended
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Jun. 30, 2022
Leases [Abstract] |
Leases | Leases We are subject to operating leases, the most significant of which are ground leases. We are the lessee to ground leases under eight of our hotels and two parking garages as of June 30, 2022. The lease liabilities for our operating leases assume the exercise of all available extension options, as we believe they are reasonably certain to be exercised. As of June 30, 2022, our operating leases have a weighted-average remaining lease term of 65 years and a weighted-average discount rate of 5.77%. The components of operating lease expense, which is included in other hotel expenses in our consolidated statements of operations, and cash paid for amounts included in the measurement of lease liabilities, are as follows (in thousands):
|  | Three Months Ended June 30, |  | Six Months Ended June 30, |  |
|  | 2022 |  | 2021 |  | 2022 |  | 2021 |  |  |  |
Operating lease cost |  | $ | 2,787 |  |  | $ | 2,774 |  |  | $ | 5,573 |  |  | $ | 5,534 |  |  |  |  |
Variable lease payments |  | $ | 533 |  |  | $ | 124 |  |  | $ | 763 |  |  | $ | 165 |  |  |  |  |
Cash paid for amounts included in the measurement of operating lease liabilities |  | $ | 994 |  |  | $ | 878 |  |  | $ | 1,979 |  |  | $ | 1,744 |  |  |  |  |
Maturities of lease liabilities as of June 30, 2022 are as follows (in thousands):
Year Ending December 31, |  |  |  |
2022 (excluding the six months ended June 30, 2022) |  | $ | 1,998 |  |  |  |  |
2023 |  | 4,033 |  |  |  |  |
2024 |  | 4,012 |  |  |  |  |
2025 |  | 4,072 |  |  |  |  |
2026 |  | 4,640 |  |  |  |  |
Thereafter |  | 759,838 |  |  |  |  |
Total lease payments |  | 778,593 |  |  |  |  |
Less imputed interest |  | (668,885) |  |  |  |  |
Total lease liabilities |  | $ | 109,708 |  |  |  |  |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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