Intangible Assets

12 Months Ended

Dec. 31, 2015

Goodwill And Intangible Assets Disclosure [Abstract]

NOTE 5. INTANGIBLE ASSETS

Intangible assets consist of both finite-lived and indefinite-lived assets. The following is a summary of our intangible assets as of December 31, 2015 and 2014:

	2015						2014
	Weighted average remaining life			Amount			Weighted average remaining life			Amount
				(in thousands)						(in thousands)
Finite-lived assets:
Favorable leasehold interests—hotels, restaurants, offices	27 years			$	9,680		28 years			$	9,680
Franchise agreements, management contracts and other	5 years				18,015		6 years				18,015
Returns membership list		—	(1)		3,200			—	(1)		3,200
Accumulated amortization					(22,234	)					(20,923	)
Total finite–lived assets					8,661						9,972
Indefinite-lived assets;
Trademarks—La Quinta					169,434						169,434
Total				$	178,095					$	179,406

(1)

As of December 31, 2015 and 2014, the Returns membership list has been fully amortized.

	For the years ended December 31,
	2015		2014		2013
	(in thousands)
Amortization expense related to intangible assets:
Depreciation and amortization expense	$	937	$	1,075	$	1,210
Direct lodging operations		374		365		320
Total amortization expense	$	1,311	$	1,440	$	1,530

As of December 31, 2015, estimated amortization expense related to intangible assets for the years ending December 31 is as follows (in thousands):

2016	$	1,094
2017		1,019
2018		908
2019		897
2020		797
Thereafter		3,946
	$	8,661

The accumulated amortization and related amortization expense described above do not include the impact of unfavorable leasehold interests which are reflected within other non-current liabilities in the accompanying combined balance sheets. For the years ended December 31, 2015, 2014 and 2013, approximately $1.1 million, $1.0 million and $0.9 million of amortization expense, related to unfavorable leasehold interests, was reported as a reduction of depreciation and amortization expenses in the accompanying combined statements of operations.