XML 49 R34.htm IDEA: XBRL DOCUMENT v3.22.4
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Operating Lease, Lease Income
The Company's ground leases consisted of the following (in thousands):
Ground Lease Expense
For the year ended December 31,
Hotel Property NameInitial Term ExpirationExtension Term(s) Expiration202220212020
Wyndham Boston Beacon Hill2028—$803 $556 $400 
Wyndham San Diego Bayside2029—5,009 4,042 4,100 
DoubleTree Suites by Hilton Orlando Lake Buena Vista203220571,005 666 300 
Residence Inn Palo Alto Los Altos2033—86 86 100 
Wyndham Pittsburgh University Center20382083726 726 700 
Marriott Louisville Downtown2053  2153 (1)— — — 
Embassy Suites San Francisco Airport Waterfront2059—1,646 1,239 1,200 
Wyndham New Orleans French Quarter2065—487 487 500 
Courtyard Charleston Historic District2096—1,044 1,019 950 
Courtyard Austin Downtown Convention Center and Residence Inn Downtown Convention Center2100—922 555 449 
Courtyard Waikiki Beach2112—3,922 3,742 3,700 
Moxy Denver Cherry Creek2115—258 5 — 
$15,908 $13,123 $12,399 
(1) The lease may be extended up to four twenty-five year terms at the Company's option.
Schedule of future minimum ground lease payments
The future lease payments for the Company's operating leases are as follows (in thousands):
December 31, 2022
2023$11,617 
202411,375 
202510,443 
202610,352 
202710,097 
Thereafter532,440 
Total future lease payments586,324 
Imputed interest(469,314)
Lease liabilities$117,010 
Assets And Liabilities, Lessee
The following table presents certain information related to the Company's operating leases as of December 31, 2022:

Weighted average remaining lease term65 years
Weighted average discount rate 7.11 %
Schedule of hotel properties operated pursuant to long-term agreements with hotel management companies
As of December 31, 2022, 96 of the Company's consolidated hotel properties were operated pursuant to management agreements with initial terms ranging from one to 25 years, with 17 different management companies as noted in the table below. This number includes 35 consolidated hotel properties that receive the benefits of a franchise agreement pursuant to management agreements with Hilton, Hyatt, Marriott, or other management companies.
Management CompanyNumber of
Hotel Properties
Accor Hotels1
Aimbridge Hospitality 31
Colwen Management, Inc.1
Concord Hospitality Enterprises Company1
Crestline Hotels and Resorts1
Davidson Hotels and Resorts2
Hilton Management and affiliates20
HEI Hotels and Resorts2
Hersha Hospitality Management & Urgo Hotels (1)7
Highgate Hotels3
Hyatt Corporation and affiliates11
InnVentures (2)3
Marriott International, Inc.3
Pyramid1
Sage Hospitality5
White Lodging Services4
96

(1) Urgo Hotels is a wholly owned subsidiary of Hersha Hospitality Management.
(2) InnVentures is a subsidiary of Highgate Hotels.