NOTE 4. 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, 2017 and 2016:

	2017						2016
	Weighted average remaining life			Amount			Weighted average remaining life			Amount
				(in thousands)						(in thousands)
Finite-lived assets:
Favorable leasehold interests—hotels, restaurants, offices	25 years			$	9,680		26 years			$	9,680
Franchise agreements, management contracts and other	3 years				18,015		4 years				18,015
Returns membership list		—	(1)		3,200			—	(1)		3,200
Accumulated amortization					(24,347	)					(23,327	)
Total finite–lived assets					6,548						7,568
Indefinite-lived assets:
Trademarks—La Quinta					169,434						169,434
Total				$	175,982					$	177,002

⁽¹⁾

As of December 31, 2017 and 2016, the Returns membership list has been fully amortized.

	For the years ended December 31,
	2017		2016		2015
	(in thousands)
Amortization expense related to intangible assets:
Depreciation and amortization expense	$	667	$	732	$	937
Direct lodging operations		353		361		374
Total amortization expense	$	1,020	$	1,093	$	1,311

As of December 31, 2017, estimated amortization expense related to intangible assets for the years ending December 31 is as follows (in thousands):

2018	$	908
2019		897
2020		797
2021		353
2022		353
Thereafter		3,240
	$	6,548

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 consolidated balance sheets. For the years ended December 31, 2017, 2016 and 2015, approximately $0.8 million, $1.0 million and $1.1 million of amortization expense, related to unfavorable leasehold interests, was reported as a reduction of depreciation and amortization expenses in the accompanying consolidated statements of operations.