SUPPLEMENTAL BALANCE SHEET INFORMATION

12 Months Ended

Dec. 31, 2023

Balance Sheet Related Disclosures [Abstract]

Restricted Cash

Restricted cash was as follows (in thousands):


	December 31,
	2023		2022
FF&E reserves	$	9,583	$	10,223
Property taxes	343		316

Other	5		14
	$	9,931	$	10,553

The Company maintains reserve funds for property taxes, insurance, capital expenditures and replacement or refurbishment of furniture, fixtures and equipment at some of our lodging properties in accordance with management, franchise or mortgage loan agreements. These agreements generally require us to reserve cash ranging from 2% to 5% of the revenues of the individual lodging property in restricted cash escrow accounts. Any unused restricted cash balances revert to us upon the termination of the underlying agreement or may be released to us from the restricted cash escrow accounts upon proof of expenditures and approval from the lender or other party requiring the restricted cash reserves.

Prepaid Expenses and Other

Prepaid expenses and other included the following (in thousands):


	December 31,
	2023		2022
Deferred acquisition costs	$	199	$	334
Prepaid insurance	1,945		1,708

Prepaid taxes	1,478		1,639
Other	5,243		4,697


	$	8,865	$	8,378

Deferred Charges

Deferred charges were as follows (in thousands):


	December 31,
	2023		2022
Franchise fees	$	10,106	$	10,079
Less - accumulated amortization	(3,447)		(3,005)
	$	6,659	$	7,074

Amortization expense for the years ended December 31, 2023, 2022, and 2021 was $0.6 million, $0.7 million and $0.5 million, respectively.

Other Assets

Other assets included the following (in thousands):


	December 31,
	2023		2022
Derivative financial instrument	$	13,958	$	16,841
Purchase options related to real estate loan	931		—
Deferred tax asset, net	20		108
Other	645		1,001


	$	15,554	$	17,950

Accrued Expenses and Other

Accrued expenses and other included the following (in thousands):


	December 31,
	2023		2022
Accrued property, sales and income taxes	$	26,590	$	28,972

Accrued salaries and benefits	13,307		13,029
Other accrued expenses at lodging properties	26,745		25,282
Accrued interest	6,136		4,158
Other	8,437		9,863






	$	81,215	$	81,304