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Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]  
Finite Lived and Indefinite Lived 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

 

 

Estimated Amortization Expense of Intangible Assets

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