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Commitments and License Rights | 12 Months Ended
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May 29, 2014
Commitments and Contingencies Disclosure [Abstract] |
Commitments License Rights and Contingencies | 9. Commitments and License Rights Lease Commitments – The Company leases real estate under various noncancellable operating leases with an initial term greater than one year that contain multiple renewal options, exercisable at the Company’s option. The Company recognizes rent expense on a straight-line basis over the expected lease term, including cancelable option periods where failure to exercise such options would result in an economic penalty. Percentage rentals are based on the revenues at the specific rented property. Rent expense charged to operations under these leases was as follows:
|  | Year Ended |
|  | May 29, 2014 |  | May 30, 2013 |  | May 31, 2012 |
|  | (in thousands) |
Fixed minimum rentals |  | $ | 7,995 |  | $ | 8,024 |  | $ | 7,843 |
Amortization of favorable lease right |  |  | 334 |  |  | 334 |  |  | 334 |
Percentage rentals |  |  | 193 |  |  | 60 |  |  | 70 |
|  | $ | 8,522 |  | $ | 8,418 |  | $ | 8,247 |
Aggregate minimum rental commitments under long-term operating leases, assuming the exercise of certain lease options, are as follows at May 29, 2014:
Fiscal Year |  | (in thousands) |
2015 |  | $ | 7,468 |
2016 |  |  | 7,333 |
2017 |  |  | 7,263 |
2018 |  |  | 7,426 |
2019 |  |  | 7,555 |
Thereafter |  |  | 85,909 |
|  | $ | 122,954 |
Commitments – The Company has commitments for the completion of construction at various properties totaling approximately $14,097,000 at May 29, 2014. License Rights – The Company has license rights to operate three hotels using the Hilton trademark, one hotel using the Four Points by Sheraton trademark, one hotel using the InterContinental trademark and one hotel using the Marriott trademark. Under the terms of the licenses, the Company is obligated to pay fees based on defined gross sales.

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- Definition The entire disclosure for commitments and contingencies. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.25) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14435-108349 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308 + Details
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