Other Assets

9 Months Ended

Sep. 30, 2020

Other Assets.

Other Assets

6. Other Assets

Other assets, net consisted of the following (in thousands):

	September 30,		December 31,
	2020		2019
	(unaudited)
Property and equipment, net	$	7,014	$	7,642
Deferred rent on straight-lined third-party tenant leases		2,879		3,542
Deferred income tax assets, net (1)		—		7,415
Interest rate cap derivatives		1		—
Other receivables		2,623		2,984
Other		307		307
Total other assets, net	$	12,824	$	21,890

(1) During the first quarter of 2020, the Company recorded a full valuation allowance on its deferred income tax assets, net. The Company can no longer be assured that it will be able to realize these assets due to uncertainties regarding how long the COVID-19 pandemic will last or what the long-term impact will be on the Company’s hotel operations.