Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Significant Accounting Policies [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The table below details the current and deferred income tax benefit (expense) for the years ended December 31, 2021, 2020 and 2019 (in thousands):

	2021		2020		2019
Current TRS income tax	$	—	$	7	$	376
Current state income tax expense	(505)		(503)		(405)
Current foreign income tax	(4)		3		—
Current foreign withholding tax	(1,088)		(1,018)		(1,051)
Deferred TRS income tax (expense) benefit	—		(4,448)		3,719
Deferred foreign withholding tax	—		—		—
Deferred income tax (expense) benefit	—		(10,797)		396
Income tax benefit (expense)	$	(1,597)	$	(16,756)	$	3,035

Schedule of Deferred Tax Assets and Liabilities

The Company’s consolidated deferred tax position is summarized as follows (in thousands):

	2021		2020
Fixed assets	$	21,687	$	18,077
Net operating losses	10,828		6,546
Start-up costs	2,309		2,495
Other	1,093		1,392
Total deferred tax assets	$	35,917	$	28,510
Capital improvements	$	(2,904)	$	(2,888)
Straight-line receivable	(915)		(706)
Other	(763)		(9)
Total deferred tax liabilities	$	(4,582)	$	(3,603)
Valuation allowance	(31,335)		(24,907)
Net deferred tax asset	$	—	$	—

Schedule of Intangible Assets and Goodwill

Intangible assets and liabilities (included in "Other assets" and "Accounts payable and accrued liabilities" in the accompanying consolidated balance sheets) consist of the following at December 31 (in thousands):

	2021		2020
Assets:
In-place leases, net of accumulated amortization of $17.2 million and $13.9 million, respectively	$	18,401	$	21,684
Above-market lease, net of accumulated amortization of $1.2 million for both December 31, 2021 and 2020	303		354
Tradenames, net of accumulated amortization of $450 thousand and $317 thousand, respectively (1)	8,713		8,847
Contract value, net of accumulated amortization of $1.3 million and $914 thousand, respectively	9,689		10,054
Goodwill	693		693
Total intangible assets, net	$	37,799	$	41,632
Liabilities:
Below-market lease, net of accumulated amortization of $2.0 million and $1.5 million, respectively	$	7,941	$	8,397

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Future amortization of in-place leases, net, above-market lease, net, tradenames, net, contract value, net and below-market lease, net at December 31, 2021 is as follows (in thousands):

	In place leases		Tradenames (1)		Contract Value		Above-market lease		Below-market lease
Year:
2022	$	2,658	$	133	$	365	$	46	$	(437)
2023	2,540		133		365		46		(415)
2024	1,863		133		365		46		(396)
2025	1,755		133		365		46		(387)
2026	1,629		133		365		46		(302)
Thereafter	7,956		2,693		7,864		73		(6,004)
Total	$	18,401	$	3,358	$	9,689	$	303	$	(7,941)
Weighted average amortization period (years)	11.1		26.3		26.5		6.5		29.8
(1) Excludes $5.4 million in tradenames with indefinite lives.