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Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2023
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 NameTerm Expiration (1)202320222021
Wyndham Boston Beacon Hill (2)2028$929 $803 $556 
Wyndham San Diego Bayside20295,315 5,009 4,042 
DoubleTree Suites by Hilton Orlando Lake Buena Vista2057815 1,005 666 
Residence Inn Palo Alto Los Altos (3)203386 86 86 
Wyndham Pittsburgh University Center2083726 726 726 
Marriott Louisville Downtown2153 (4)— — — 
Embassy Suites San Francisco Airport Waterfront20591,850 1,646 1,239 
Wyndham New Orleans French Quarter2065487 487 487 
Courtyard Charleston Historic District20961,052 1,044 1,019 
Courtyard Austin Downtown Convention Center and Residence Inn Downtown Convention Center21001,025 922 555 
Courtyard Waikiki Beach21124,121 3,922 3,742 
Moxy Denver Cherry Creek2115272 258 5 
$16,678 $15,908 $13,123 

(1)    Assumes the exercise of any remaining extension options.
(2)    In January 2024, the Company acquired a fee simple interest in this hotel property for approximately $125.0 million.
(3)    The ground lease underlying a portion of this hotel property is part of a municipal utility district’s water pipeline right-of-way.
(4)    The lease may be extended for 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, 2023
2024$10,427 
202510,443 
202611,091 
202711,598 
202811,094 
Thereafter538,093 
Total future lease payments592,746 
Imputed interest(470,158)
Lease liabilities$122,588 
Assets And Liabilities, Lessee
The following table presents certain information related to the Company's operating leases as of December 31, 2023:

Weighted average remaining lease term62 years
Weighted average discount rate 7.29 %
Schedule of hotel properties operated pursuant to long-term agreements with hotel management companies
As of December 31, 2023, 96 of the Company's consolidated hotel properties were operated pursuant to management agreements with initial terms ranging from three to 25 years, with 15 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, or Marriott.
Management CompanyNumber of
Hotel Properties
Aimbridge Hospitality 31
Colwen Management, Inc.1
Concord Hospitality Enterprises Company1
Crestline Hotels and Resorts1
Davidson Hotels and Resorts2
Hilton Management and affiliates21
HEI Hotels and Resorts2
Hersha Hospitality Management7
Highgate Hotels3
Hyatt Corporation and affiliates11
InnVentures (1)3
Marriott International, Inc.3
Pyramid1
Sage Hospitality5
White Lodging Services4
96

(1)    InnVentures is a subsidiary of Highgate Hotels.