SUPPLEMENTAL BALANCE SHEET INFORMATION

Investment in Real Estate Loans

Investment in real estate loans, net at December 31, 2016 and 2015 includes (in thousands):



	2016		2015
Real estate loan	$	10,085	$	10,085
ARCH Loan (net of deferred gain of $15.0 million at December 31, 2016)	7,500		—
Seller-financing note	—		2,718
	$	17,585	$	12,803

At December 31, 2016 and 2015, the real estate loan totaling $10.1 million had an interest rate of 10.0% per annum paid monthly and an initial maturity date of May 31, 2017. On January 12, 2017, the borrower exercised an option to extend the maturity date until May 13, 2018. The interest rate remains 10.0% per annum during the extension period and principal payments will be made based on a 25-year amortization schedule.

At December 31, 2016, the outstanding PIK interest related to the ARCH Loan totaled $0.9 million. We will recognize the PIK interest as payments are received from ARCH.

At December 31, 2015, we held two notes receivable totaling $2.7 million related to seller-financing for the sale in a prior year of two hotel properties in Emporia, KS (each an "Emporia Property"). The loans had matured and the buyer was in payment default under the terms of the loans. We were awarded legal title to one Emporia Property through foreclosure. We also purchased an additional note receivable from the first priority lien holder for the Emporia Property for which foreclosure proceedings were ongoing to facilitate the completion of the reacquisition of this Emporia Property through a foreclosure. On April 15, 2016, we completed the sale of the reacquired Emporia Property to a third party purchaser that was unrelated to the prior owner. On May 18, 2016, we completed the sale of the first and second lien notes related to the remaining Emporia Property to the same purchaser. The aggregate selling price of the Emporia Properties was approximately $4.5 million. As a result of the foreclosure activities and the sale of the notes, we have no further interest in either Emporia Property.

Restricted Cash

Restricted cash at December 31, 2016 and 2015 was as follows (in thousands):



	2016		2015
FF&E reserves	$	22,000	$	18,997
Property taxes	2,220		2,758
Other	661		1,318
	$	24,881	$	23,073

Prepaid Expenses and Other

Prepaid expenses and other at December 31, 2016 and 2015 was as follows (in thousands):



	2016		2015
Prepaid insurance	$	2,218	$	813
Escrow deposits	—		10,046
Other	4,256		4,422
	$	6,474	$	15,281

Deferred Charges

Deferred charges at December 31, 2016 and 2015 were as follows (in thousands):



	2016			2015
Initial franchise fees	$	5,101		$	4,760
Less - accumulated amortization	(1,374		)	(1,132		)
Total	$	3,727		$	3,628

Amortization expense for the years ended December 31, 2016, 2015, and 2014 was $0.3 million, $0.4 million and $0.5 million, respectively.

Other Assets

Other assets at December 31, 2016 and 2015 was as follows (in thousands):



	2016		2015
Acquired intangible assets	$	6,254	$	6,122
Prepaid land lease	3,275		3,325
Deferred tax asset, net	2,503		112
	$	12,032	$	9,559

At December 31, 2016, intangible assets consisted of assumed contractual arrangements including terms that were above market compared to an estimated fair market value of the agreement at the acquisition date. These assets are being amortized using the straight-line method over a weighted average amortization period of 29.0 years.

Future amortization expense is expected to be as follows (in thousands):



2017	$	471
2018	350
2019	213
2020	190
2021	190
Thereafter	4,840
	$	6,254

Accrued Expenses and Other

Accrued expenses and other at December 31, 2016 and 2015 was as follows (in thousands):



	2016		2015
Accrued property, sales and income taxes	$	11,171	$	12,901
Accrued salaries and benefits	10,802		9,366
Accrued interest	1,655		1,862
Acquired unfavorable leases	4,812		4,907
Accrued expenses at hotels	12,356		10,536
Other	6,084		2,602
	$	46,880	$	42,174