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Segments (Tables) | 12 Months Ended
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Dec. 31, 2024
Segments |
Schedule of segment operating results | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Sponsorships, | ​ | ​ | ​
​ | ​ | Landlord | ​ | ​ | ​ | ​ | Events, and | ​ | ​ | ​
in thousands |  | Operations |  | Hospitality |  | Entertainment |  | Total
Year ended December 31, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total revenues | ​ | $ | 25,455 | ​ | $ | 29,528 | ​ | $ | 56,153 | ​ | $ | 111,136
Operating costs | ​ |  | (34,254) | ​ | ​ | (3,824) | ​ | ​ | (6,351) | ​ | ​ | (44,429)
Sponsorships, Events, and Entertainment Costs | ​ |  | — | ​ | ​ | — | ​ | ​ | (43,757) | ​ | ​ | (43,757)
Hospitality Costs | ​ |  | — | ​ | ​ | (31,002) | ​ | ​ | — | ​ | ​ | (31,002)
Provision for doubtful accounts | ​ |  | (26) | ​ |  | (140) | ​ | ​ | (2,197) | ​ | ​ | (2,363)
Total operating expenses | ​ |  | (34,280) | ​ | ​ | (34,966) | ​ | ​ | (52,305) | ​ | ​ | (121,551)
Other income (loss), net | ​ |  | 2,065 | ​ | ​ | 4,496 | ​ | ​ | 168 | ​ | ​ | 6,729
Total segment expenses | ​ |  | (32,215) | ​ | ​ | (30,470) | ​ | ​ | (52,137) | ​ | ​ | (114,822)
Segment Adjusted EBITDA | ​ |  | (6,760) | ​ | ​ | (942) | ​ | ​ | 4,016 | ​ | ​ | (3,686)
Depreciation and amortization | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (34,785)
Interest expense, net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (6,751)
Equity in losses from unconsolidated ventures | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (42,571)
Provision for impairment | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | —
Loss on early extinguishment of debt | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (1,563)
Corporate expenses and other items | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | (63,269)
Loss before income taxes | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | (152,625)
Income tax benefit (expense) | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | —
Net loss | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | $ | (152,625)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year ended December 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total revenues | ​ | $ | 22,104 | ​ | $ | 32,951 | ​ | $ | 60,623 | ​ | $ | 115,678
Operating costs | ​ |  | (31,543) | ​ | ​ | (4,224) | ​ | ​ | (5,452) | ​ | ​ | (41,219)
Sponsorships, Events, and Entertainment Costs | ​ |  | — | ​ | ​ | — | ​ | ​ | (47,466) | ​ | ​ | (47,466)
Hospitality Costs | ​ |  | — | ​ | ​ | (31,432) | ​ | ​ | — | ​ | ​ | (31,432)
Provision for doubtful accounts | ​ |  | (80) | ​ |  | (42) | ​ | ​ | (337) | ​ | ​ | (459)
Total operating expenses | ​ |  | (31,623) | ​ | ​ | (35,698) | ​ | ​ | (53,255) | ​ | ​ | (120,576)
Other income (loss), net | ​ |  | 8 | ​ | ​ | 31 | ​ | ​ | (6) | ​ | ​ | 33
Total segment expenses | ​ |  | (31,615) | ​ | ​ | (35,667) | ​ | ​ | (53,261) | ​ | ​ | (120,543)
Segment Adjusted EBITDA | ​ |  | (9,511) | ​ | ​ | (2,716) | ​ | ​ | 7,362 | ​ | ​ | (4,865)
Depreciation and amortization | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | (48,432)
Interest expense, net | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | (3,166)
Equity in losses from unconsolidated ventures | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | (80,633)
Provision for impairment | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (672,492)
Loss on early extinguishment of debt | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (47)
Corporate expenses and other items | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | (30,617)
Loss before income taxes | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | (840,252)
Income tax benefit (expense) | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | 2,187
Net loss | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | $ | (838,065)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year ended December 31, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total revenues | ​ | $ | 20,742 | ​ | $ | 42,580 | ​ | $ | 55,724 | ​ | $ | 119,046
Operating costs | ​ |  | (34,087) | ​ | ​ | (4,893) | ​ | ​ | (5,068) | ​ | ​ | (44,048)
Sponsorships, Events, and Entertainment Costs | ​ |  | — | ​ | ​ | — | ​ | ​ | (38,764) | ​ | ​ | (38,764)
Hospitality Costs | ​ |  | — | ​ | ​ | (38,037) | ​ | ​ | — | ​ | ​ | (38,037)
Provision for doubtful accounts | ​ |  | (1,091) | ​ |  | (164) | ​ | ​ | (157) | ​ | ​ | (1,412)
Total operating expenses | ​ |  | (35,178) | ​ | ​ | (43,094) | ​ | ​ | (43,989) | ​ | ​ | (122,261)
Other income (loss), net | ​ |  | 458 | ​ | ​ | 18 | ​ | ​ | 459 | ​ | ​ | 935
Total segment expenses | ​ |  | (34,720) | ​ | ​ | (43,076) | ​ | ​ | (43,530) | ​ | ​ | (121,326)
Segment Adjusted EBITDA | ​ |  | (13,978) | ​ | ​ | (496) | ​ | ​ | 12,194 | ​ | ​ | (2,280)
Depreciation and amortization | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | (47,356)
Interest expense, net | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | (4,013)
Equity in losses from unconsolidated ventures | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | (37,124)
Provision for impairment | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | —
Loss on early extinguishment of debt | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | —
Corporate expenses and other items | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | (17,035)
Loss before income taxes | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | (107,808)
Income tax benefit (expense) | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | (3,469)
Net loss | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (111,277)
Schedule of assets by segment | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, |  | December 31,
in thousands | ​ | 2024 | ​ | 2023
Landlord Operations | ​ | $ | 397,584 | ​ | $ | 411,871
Hospitality | ​ |  | 54,020 | ​ |  | 64,816
Sponsorships, Events, and Entertainment | ​ |  | 125,207 | ​ |  | 135,121
Total segment assets | ​ |  | 576,811 | ​ |  | 611,808
Corporate | ​ |  | 166,745 | ​ |  | 5,005
Total assets (a) | ​ | $ | 743,556 | ​ | $ | 616,813
| (a) | In 2023, the Company recorded a $709.5 million impairment charge related to the Seaport properties in the Landlord Operations segment and investments in the Hospitality segment. Refer to Note 3 – Impairment for additional information.
Schedule of capital expenditures by segment | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
in thousands |  | 2024 |  | 2023
Landlord Operations | ​ | $ | 59,285 | ​ | $ | 63,016
Hospitality | ​ |  | 278 | ​ |  | 3,302
Sponsorships, Events, and Entertainment | ​ |  | 1,014 | ​ |  | 1,340
Corporate | ​ | ​ | 1,049 | ​ | ​ | —
​

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