Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Schedule of Hotels Subject to Leases

As of December 31, 2020, the following hotels were subject to leases as follows:

Lease Properties	Lease Type	Lease Expiration Date
Hotel Monaco Washington DC	Operating lease	November 2059
Argonaut Hotel	Operating lease	December 2059
Hotel Zelos San Francisco	Operating lease	June 2097
Hotel Zephyr Fisherman's Wharf	Operating lease	February 2062
Hotel Palomar Los Angeles Beverly Hills	Operating lease	January 2107	(1)
Restaurant at Southernmost Beach Resort	Operating lease	April 2029
Hyatt Regency Boston Harbor	Operating lease	April 2077
San Diego Mission Bay Resort (formerly Hilton San Diego Mission Bay Resort)	Operating lease	July 2068
Paradise Point Resort & Spa	Operating lease	May 2050
Hotel Vitale	Operating lease	March 2070	(2)
Viceroy Santa Monica Hotel	Operating lease	September 2065
The Westin Copley Place, Boston	Operating lease	December 2077	(3)
The Liberty, A Luxury Collection Hotel, Boston	Operating lease	May 2080
Hotel Zeppelin San Francisco	Operating and finance lease	June 2089	(4)
Harbor Court Hotel San Francisco	Finance lease	August 2052
The Roger New York	Finance lease	December 2044

(1) The expiration date assumes the exercise of all 19 five-year extension options.

(2) The expiration date assumes the exercise of a 14 year extension option.

(3) No payments are required through maturity.

(4) The expiration date assumes the exercise of a 30 year extension option.

Schedule of Components of Ground Rent Expense

The components of ground rent expense for the years ended December 31, 2020, 2019 and 2018 are as follows (in thousands):

	For the year ended December 31,
	2020		2019		2018
Fixed ground rent	$	17,220	$	17,042	$	8,318
Variable ground rent	4,924		14,689		6,201
Total ground lease rent	$	22,144	$	31,731	$	14,519

Schedule of Operating Lease Future Maturity

Future maturity of lease liabilities for the Company's operating leases at December 31, 2020 were as follows (in thousands):

2021	$	18,541
2022	18,849
2023	18,034
2024	18,119
2025	18,203
Thereafter	1,127,864
Total lease payments	$	1,219,610
Less: Imputed interest	(964,504)
Present value of lease liabilities	$	255,106