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COMMITMENTS AND CONTINGENCIES (Tables)
12 Months Ended
Dec. 31, 2012
Current minimum annual payments under the leases

Current minimum annual payments under the leases are as follows, as of December 31, 2012 (in thousands):

 

2013

   $ 2,502   

2014

     2,569   

2015

     2,636   

2016

     1,709   

2017

     736   

Thereafter

     2,961 (1) 
  

 

 

 
   $ 13,113   
  

 

 

 

 

(1) Lease payments on the Waikiki Beach Walk lease will be equal to fair rental value from March 2017 through the end of the lease term. In the table, we have shown the lease payments for this period based on the stated rate for the month of February 2017 of $61,690.