Management Agreements and Leases (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of minimum rents to be received

As of March 31, 2019, our leases with parties other than our TRSs provide for contractual minimum rents to be paid to us during the remaining current terms as follows:




2019	$	281,956
2020	273,098
2021	272,801
2022	271,222
2023	258,065
Thereafter	2,357,802
Total	$	3,714,944

Schedule of minimum rent payments

As of March 31, 2019, our operating leases provide for contractual minimum rent payments to third parties during the remaining lease terms, as follows:



2019	$	7,165
2020	6,850
2021	6,127
2022	5,632
2023	5,614
Thereafter	159,731
Total lease payments	191,119
Less: imputed interest	(114,971		)
Present value of lease liabilities ⁽¹⁾	$	76,148


(1)	The weighted average discount rate used to calculate the lease liability and the weighted average remaining term for our ground leases (assuming all extension options) and our hotel operating leases are approximately 5.50% and 32 years (range of 12 to 69 years) and 5.63% and 29 years (range of 9 months to 55 years), respectively.