Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Minimum Future Obligation Payments Required Under Ground Leases

The following is a schedule of the minimum future payments required under the ground, air rights, garages leases and office lease as of September 30, 2018, for the remainder of 2018 and for each of the next five calendar years and thereafter (in thousands):



	Other Leases⁽¹⁾		Office Lease
	Amount
2018 (remaining three months)	$	318	$	196
2019	1,273		792
2020	1,320		812
2021	1,326		832
2022	1,329		853
2023	1,332		873
Thereafter	69,225		2,436
Total	$	76,123	$	6,794

(1) Other leases includes ground, garage and air rights leases at our hotels.

Schedule of Management Agreement Terms

Terms of the Company's management agreements entered into during the three and nine months ended September 30, 2018 are as follows:



Property	Management Company	Base Management Fee	Monthly Accounting Fee	Monthly Revenue Management Fee	Incentive Management Fee
Residence Inn Summerville	IHM	3.0%	$1,500	$1,000	1.0%

Schedule of Franchise Agreement Terms

Terms of the Company's franchise agreements entered into during the three and nine months ended September 30, 2018 are as follows:



Property	Franchise Company	Franchise/Royalty Fee	Marketing Program Fee	Expiration
Residence Inn Summerville	Marriott International, Inc	6.0%	2.5%	2038