6. OTHER INTANGIBLE ASSETS

A schedule of our intangible assets and liabilities and related accumulated amortization and accretion as of September 30, 2015 and December 31, 2014 is as follows:

	Assets															Liabilities
September 30, 2015	Acquired Above-Market Leases			Acquired In-Place Leases			Tax Abatement			Franchise Affiliation Fee			Acquired Below-Market Ground Lease			Acquired Below-Market Leases
	(in thousands)
Gross balance	$	1,072		$	21,466		$	4,273		$	3,936		$	11,685		$	(19,722	)
Accumulated amortization		(908	)		(16,615	)		(2,185	)		(3,277	)		(1,387	)		13,005

	$	164		$	4,851		$	2,088		$	659		$	10,298		$	(6,717	)


Average useful life (in years)		7			8			8			10			84			8

	Assets															Liabilities
December 31, 2014	Acquired Above-Market Leases			Acquired In-Place Leases			Tax Abatement			Franchise Affiliation Fee			Acquired Below-Market Ground Lease			Acquired Below-Market Leases
	(in thousands)
Gross balance	$	2,402		$	22,680		$	4,273		$	3,936		$	11,685		$	(20,333	)
Accumulated amortization		(2,039	)		(16,470	)		(1,771	)		(2,981	)		(1,282	)		11,676

	$	363		$	6,210		$	2,502		$	955		$	10,403		$	(8,657	)


Average useful life (in years)		7			8			8			10			84			8

The amortization of the above-market leases which decreased rental and other property income was $41,000 and $87,000 for the three months ended September 30, 2015 and 2014, respectively, and $199,000 and $522,000 for the nine months ended September 30, 2015 and 2014, respectively. The amortization of the below-market leases included in rental and other property income was $630,000 and $637,000 for the three months ended September 30, 2015 and 2014, respectively, and $1,940,000 and $1,982,000 for the nine months ended September 30, 2015 and 2014, respectively. The amortization of in-place leases included in depreciation and amortization expense was $413,000 and $589,000 for the three months ended September 30, 2015 and 2014, respectively, and $1,461,000 and $1,788,000 for the nine months ended September 30, 2015 and 2014, respectively. Included in depreciation and amortization expense was franchise affiliation fee amortization of $98,000 for each of the three months ended September 30, 2015 and 2014, and $296,000 for each of the nine months ended September 30, 2015 and 2014. The amortization of advance bookings included in depreciation and amortization expense was $0 and $56,000 for the three months ended September 30, 2015 and 2014, respectively, and $0 and $190,000 for the nine months ended September 30, 2015 and 2014, respectively. Tax abatement amortization of $138,000 for each of the three months ended September 30, 2015 and 2014, and $414,000 for each of the nine months ended September 30, 2015 and 2014 is included in rental and other property operating expenses. Amortization of below-market ground lease obligation of $35,000 for each of the three months ended September 30, 2015 and 2014, and $105,000 for each of the nine months ended September 30, 2015 and 2014 is included in rental and other property operating expenses.

A schedule of future amortization and accretion of acquisition related intangible assets and liabilities as of September 30, 2015 is as follows:

	Assets										Liabilities
Years Ending December 31,	Acquired Above-Market Leases		Acquired In-Place Leases		Tax Abatement		Franchise Affiliation Fee		Acquired Below-Market Ground Lease		Acquired Below-Market Leases
	(in thousands)
2015 (Three months ending December 31, 2015)	$	42	$	391	$	137	$	98	$	35	$	(629	)
2016		88		1,380		551		394		140		(2,502	)
2017		26		949		551		167		140		(2,399	)
2018		8		689		551		—		140		(963	)
2019		—		488		298		—		140		(224	)
Thereafter		—		954		—		—		9,703		—

	$	164	$	4,851	$	2,088	$	659	$	10,298	$	(6,717	)