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RELATED PARTY TRANSACTIONS - REIT (Tables) - ESH Hospitality, Inc.
6 Months Ended
Jun. 30, 2020
Entity Information [Line Items]  
Schedule of Related Party Transaction Balances Fixed and variable rental revenues for the three and six months ended June 30, 2020 and 2019 are as follows (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2020201920202019
Fixed rental revenues$119,486  $118,005  $238,676  $236,010  
Variable rental revenues(1)
—  97  —  97  
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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 and six months ended June 30, 2020.
Related party transaction balances as of June 30, 2020 and December 31, 2019, include the following (in thousands):
June 30,
2020
December 31,
2019
Leases:
Rents receivable(1)
$13,056  $1,572  
Deferred rents receivable(2)
$33,950  $28,917  
Unearned rental revenues(1)
$(70,528) $(38,770) 
Working capital and other:
Ordinary working capital(3)
$(7,343) $(12,160) 
Equity awards receivable(4)
82  322  
     Total working capital and other, net(5)
$(7,261) $(11,838) 
______________________
(1)Rents receivable relate to percentage rents. As of June 30, 2020, unearned rental revenues related to July 2020 fixed minimum rent of $39.0 million and percentage rent of $31.5 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.
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$234,900  
2021482,706  
2022494,828  
2023422,453  
Total$1,634,887