COMMITMENTS AND CONTINGENCIES (Tables)

9 Months Ended

Sep. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Components of Lease Expense

For the three and nine months ended September 30, 2019, the components of the Company’s total lease costs are as follows (in thousands):

	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Operating lease costs	$	794	$	2,332
Finance lease costs - interest	61		183
Total lease costs	855		2,515

Schedule of Right of Use Assets and Lease Liabilities

The Company’s right-of-use assets and lease liabilities are as follows (in thousands):

	September 30, 2019		December 31, 2018(4)
Right-of-use assets:
Operating(1)	$	5,429	$	—
Finance(2)	3,979		3,843
Lease liabilities:
Operating(3)	13,091		—
Finance	3,410		3,360

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(1) Included in other assets on the accompanying condensed consolidated balance sheets.

(2) Included in property and equipment, net on the accompanying condensed consolidated balance sheets.

(3) Included in accounts payable and accrued liabilities on the accompanying condensed consolidated balance sheets.

(4)

Finance lease right-of-use assets and liabilities as of December 31, 2018, were previously classified as capital lease assets and liabilities under ASC 840, Leases.

ESH REIT’s right-of-use assets and lease liabilities are as follows (in thousands):

	September 30, 2019		December 31, 2018(4)
Right-of-use assets:
Operating(1)	$	2,260	$	—
Finance(2)	3,979		3,843
Lease liabilities:
Operating(3)	9,235		—
Finance	3,410		3,360

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(1) Included in other assets on the accompanying condensed consolidated balance sheets.

(2) Included in property and equipment, net on the accompanying condensed consolidated balance sheets.

(3) Included in accounts payable and accrued liabilities on the accompanying condensed consolidated balance sheets.

(4)

Finance lease right-of-use assets and liabilities as of December 31, 2018 were previously recorded as capital lease assets and obligations under ASC 840, Leases.

Maturities of Finance Lease Liabilities

Maturities of lease liabilities as of September 30, 2019, are as follows (in thousands):

Years Ending December 31,	Operating Leases			Finance Leases
Remainder of 2019	705			90
2020	2,899			386
2021	2,220			395
2022	806			397
2023	545			400
2024	503			402
Thereafter	77,594			3,100
Total	$	85,272		$	5,170
Total discounted lease liability	$	13,091		$	3,410
Difference between undiscounted cash flows and discounted cash flows	$	72,181		$	1,760
Weighted-average remaining lease term	41 years			12 years
Weighted-average discount rate	6.3		%	7.0		%

Maturities of Operating Lease Liabilities

Maturities of lease liabilities as of September 30, 2019, are as follows (in thousands):

Years Ending December 31,	Operating Leases			Finance Leases
Remainder of 2019	705			90
2020	2,899			386
2021	2,220			395
2022	806			397
2023	545			400
2024	503			402
Thereafter	77,594			3,100
Total	$	85,272		$	5,170
Total discounted lease liability	$	13,091		$	3,410
Difference between undiscounted cash flows and discounted cash flows	$	72,181		$	1,760
Weighted-average remaining lease term	41 years			12 years
Weighted-average discount rate	6.3		%	7.0		%

Schedule of Future Minimum Lease Payments

Future minimum lease payments as of December 31, 2018, disclosed in accordance with ASC 840, Leases, were as follows (in thousands):

Years Ending December 31,	Operating Leases		Finance Leases
2019	$	2,779	$	351
2020	2,899		375
2021	2,220		384
2022	806		386
2023	545		387
Thereafter	78,097		3,340
Total	$	87,346	$	5,223

Schedule of Future Minimum Lease Payments

Future minimum lease payments as of December 31, 2018, disclosed in accordance with ASC 840, Leases, were as follows (in thousands):

Years Ending December 31,	Operating Leases		Finance Leases
2019	$	2,779	$	351
2020	2,899		375
2021	2,220		384
2022	806		386
2023	545		387
Thereafter	78,097		3,340
Total	$	87,346	$	5,223