RELATED PARTY TRANSACTIONS - REIT (Tables) - ESH Hospitality, Inc.

3 Months Ended

Mar. 31, 2020

Entity Information [Line Items]

Future minimum rental payments to be received

Future fixed rental payments to be received under current remaining noncancellable lease terms are as follows (in thousands):

Years Ending December 31,
Remainder of 2020	$	350,521
2021	479,830
2022	491,866
2023	419,911
Total	$	1,742,128

Schedule of Related Party Transaction Balances

ixed and variable rental revenues for the three months ended March 31, 2020 and 2019 are as follows (in thousands):

	Three Months Ended March 31,
	2020		2019
Fixed rental revenues	$	119,190	$	118,005
Variable rental revenues(1)	—		—

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(1)Regardless of whether cash rental payments are received, ESH REIT only recognizes revenue when a lessee’s revenue exceeds specific thresholds stated in the lease. Variable rental revenue thresholds were not achieved during the three months ended March 31, 2020 or 2019.

Related party transaction balances as of March 31, 2020 and December 31, 2019, include the following (in thousands):

	March 31, 2020		December 31, 2019
Leases:
Rents receivable(1)	$	666	$	1,572
Deferred rents receivable(2)	$	31,429	$	28,917
Unearned rental revenues(1)	$	(58,023)	$	(38,770)
Working capital and other:
Ordinary working capital(3)	$	(10,598)	$	(12,160)
Equity awards (payable) receivable(4)	(230)		322
Total working capital and other, net(5)	$	(10,828)	$	(11,838)

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(1)Rents receivable relate to percentage rents. As of March 31, 2020, unearned rental revenues related to April 2020 fixed minimum rent of $38.8 million and percentage rent of $19.2 million. As of December 31, 2019, unearned rental revenues related to January 2020 fixed minimum rent.

(2)Revenues recognized in excess of cash rents received.

(3)Represents disbursements and/or receipts made by the Corporation or ESH REIT on the other entity’s behalf. Includes overhead costs incurred by the Corporation on ESH REIT’s behalf.

(4)Represents amounts related to RSUs not yet settled or issued.

(5)Outstanding balances are typically repaid within 30 days.