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Leases (Tables)
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Lease Balances
As of December 31, 2022 and 2021, our leased assets and liabilities consisted of the following (in thousands):
December 31, 2022December 31, 2021
Assets
Operating lease right-of-use assets$79,449 $80,462 
Liabilities
Operating lease liabilities$60,692 $60,937 
Lease Cost and Other Information
We incurred the following lease costs related to our operating leases (in thousands):
Year Ended December 31,
Classification 202220212020
Operating lease cost (1)
Hotel operating expenses - other$6,653 $5,349 $4,373 
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(1) For the years ended December 31, 2022, 2021 and 2020, operating lease cost includes approximately $2.2 million, $954,000 and $(305,000), respectively, of variable lease cost associated with the ground leases, with the credit in 2020 primarily caused by the ground lease percentage rent true-up for fiscal year 2019-2020 at Hilton La Jolla Torrey Pines. Additionally, we recorded $474,000, $512,000 and $834,000, respectively, of amortization costs related to the intangible assets that were reclassified to “operating lease right-of-use assets” upon adoption of ASC 842. Short-term lease costs in aggregate are immaterial.
Other information related to leases is as follows:
Year Ended December 31,
202220212020
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases (in thousands)$3,307 $3,302 $3,261 
Weighted Average Remaining Lease Term
Operating leases (1)
44 years45 years47 years
Weighted Average Discount Rate
Operating leases (1)
4.98 %4.98 %4.98 %
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(1)     Calculated using the lease term, excluding extension options, and discount rates of the ground leases.
Maturities of Operating Lease Liabilities
Future minimum lease payments due under non-cancellable leases as of December 31, 2022 were as follows (in thousands):
Operating Leases
2023$3,365 
20243,329 
20253,321 
20263,334 
20273,342 
Thereafter141,300 
Total future minimum lease payments (1)
157,991 
Less: interest(97,299)
Present value of operating lease liabilities$60,692 
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(1)     Based on payment amounts as of December 31, 2022.