Acquisitions (Tables)

12 Months Ended

Dec. 31, 2023

The equity interests were acquired for total purchase consideration of $618.8 million which was comprised of the following (in thousands):


	Fair Value
Cash consideration paid	$	45,000
Issuance of common units	573,800
Total purchase consideration	$	618,800

The following table summarizes the allocation of fair value of assets acquired and liabilities assumed in the transaction (in thousands):


	Amount
Cash and cash equivalents	$	40,461
Restricted cash	14,444
Accounts receivable, net	3,548
Prepaid expenses and other current assets	7,614
Property and equipment	1,494
Intangible assets	107,600
Total assets acquired	175,161
Accounts payable	(9,334)
Funds payable to owners	(24,711)
Hospitality and sales taxes payable	(5,748)
Deferred revenue	(8,097)
Future stay credits	(10,601)
Accrued expenses and other liabilities	(8,474)
Other long-term liabilities	(6,385)
Total liabilities assumed	(73,350)
Net assets purchased	101,811
Goodwill	516,989
Total purchase consideration	$	618,800

The Company's identifiable intangible assets acquired consisted of the following as of the acquisition date (in thousands):


	Estimated Useful Life (Years)	Fair Value
Homeowner contracts	5	$	102,300
Database and listings	1	3,400
Trademark, trade name, brand name	1	1,900
Total identifiable intangible assets		$	107,600

Supplemental information on an unaudited pro forma basis is as follows (in thousands):