LEASES

9 Months Ended

Sep. 30, 2021

Leases [Abstract]

LEASES

LEASES

We own five hotels within our consolidated portfolio of hotels where we do not own the land on which the hotels reside, rather we lease the land from an unrelated third-party lessor. All of our land leases are classified as operating leases and have initial terms with extension options that range from May 2062 to October 2103. We also have two additional office space leases with terms ranging from March 2023 to December 2027. Lease costs for our office spaces are included in General and Administrative expense.

The components of lease costs for the three months ended September 30, 2021 and 2020 were as follows:

	Three Months Ended September 30, 2021						Three Months Ended September 30, 2020
	Ground Lease		Office Lease		Total		Ground Lease		Office Lease		Total
Operating lease costs	$	1,050	$	121	$	1,171	$	1,052	$	121	$	1,173
Variable lease costs	79		59		138		10		53		63
Total lease costs	$	1,129	$	180	$	1,309	$	1,062	$	174	$	1,236

The components of lease costs for the nine months ended September 30, 2021 and 2020 were as follows:

	Nine months ended September 30, 2021						Nine months ended September 30, 2020
	Ground Lease		Office Lease		Total		Ground Lease		Office Lease		Total
Operating lease costs	$	3,176	$	363	$	3,539	$	3,152	$	363	$	3,515
Variable lease costs	117		227		344		31		208		239
Total lease costs	$	3,293	$	590	$	3,883	$	3,183	$	571	$	3,754

Other information related to leases as of and for the nine months ended September 30, 2021 and 2020 is as follows:

	September 30, 2021			September 30, 2020
Cash paid from operating cash flow for operating leases	$	3,457		$	3,038
Weighted average remaining lease term (in years)	63.5			64.2
Weighted average discount rate	7.86		%	7.86		%

LEASES

LEASES

We own five hotels within our consolidated portfolio of hotels where we do not own the land on which the hotels reside, rather we lease the land from an unrelated third-party lessor. All of our land leases are classified as operating leases and have initial terms with extension options that range from May 2062 to October 2103. We also have two additional office space leases with terms ranging from March 2023 to December 2027. Lease costs for our office spaces are included in General and Administrative expense.

The components of lease costs for the three months ended September 30, 2021 and 2020 were as follows:

	Three Months Ended September 30, 2021						Three Months Ended September 30, 2020
	Ground Lease		Office Lease		Total		Ground Lease		Office Lease		Total
Operating lease costs	$	1,050	$	121	$	1,171	$	1,052	$	121	$	1,173
Variable lease costs	79		59		138		10		53		63
Total lease costs	$	1,129	$	180	$	1,309	$	1,062	$	174	$	1,236

The components of lease costs for the nine months ended September 30, 2021 and 2020 were as follows:

	Nine months ended September 30, 2021						Nine months ended September 30, 2020
	Ground Lease		Office Lease		Total		Ground Lease		Office Lease		Total
Operating lease costs	$	3,176	$	363	$	3,539	$	3,152	$	363	$	3,515
Variable lease costs	117		227		344		31		208		239
Total lease costs	$	3,293	$	590	$	3,883	$	3,183	$	571	$	3,754

Other information related to leases as of and for the nine months ended September 30, 2021 and 2020 is as follows:

	September 30, 2021			September 30, 2020
Cash paid from operating cash flow for operating leases	$	3,457		$	3,038
Weighted average remaining lease term (in years)	63.5			64.2
Weighted average discount rate	7.86		%	7.86		%