XML 69 R46.htm IDEA: XBRL DOCUMENT v3.22.0.1
Management Agreements and Leases - Sonesta (Details)
$ in Thousands
1 Months Ended 3 Months Ended 12 Months Ended
Jan. 01, 2022
USD ($)
renewalOption
hotel
Nov. 01, 2021
hotel
Aug. 01, 2021
USD ($)
hotel
Feb. 27, 2020
USD ($)
hotel
Feb. 26, 2020
USD ($)
Jan. 31, 2022
property
Mar. 31, 2021
USD ($)
Dec. 15, 2020
hotel
Dec. 31, 2021
USD ($)
hotel
property
unit
Dec. 31, 2020
USD ($)
property
Dec. 31, 2019
USD ($)
property
Management Agreements and Leases [Line Items]                      
Number of properties | property                 1,091    
Properties to be sold | property                   5  
Capital improvements from leased facilities, funded                 $ 95,017 $ 69,082 $ 150,531
Due from related persons                 48,168 55,530  
Equity in earnings (losses) of an investee                 $ (941) $ (9,910) $ 393
Disposed of by sale                      
Management Agreements and Leases [Line Items]                      
Number of properties sold | property                 18 39 150
Sonesta International Hotels Corporation                      
Management Agreements and Leases [Line Items]                      
Capital contribution             $ 25,443        
Sonesta                      
Management Agreements and Leases [Line Items]                      
Number of properties with transferred branding and management | hotel   1                  
Sonesta International Hotels Corporation                      
Management Agreements and Leases [Line Items]                      
Noncontrolling interest, ownership percentage                 34.00%    
Sonesta Agreement                      
Management Agreements and Leases [Line Items]                      
Percentage of historical real estate investments                 50.90%    
Percentage of gross revenues from hotel operations placed into escrow       5.00%              
Equity method investments, carrying value                 $ 62,687 $ 36,646  
Amount of cost basis exceeding book value       $ 8,000              
Amortization period       31 years              
Amortization of basis difference                 260 217  
Equity in earnings (losses) of an investee                   (9,910)  
Liability of the fair value of initial investment                 42,000    
Decrease in hotel operating expense                 2,484 2,070  
Unamortized balance                 $ 37,447 $ 39,930  
IHG Agreement | Sonesta                      
Management Agreements and Leases [Line Items]                      
Number of properties with transferred branding and management | hotel   5                  
Hyatt Hotels Corporation Contract | Hotel                      
Management Agreements and Leases [Line Items]                      
Automatic renewal term                 1 year    
Hotel                      
Management Agreements and Leases [Line Items]                      
Number of properties | hotel                 303    
Hotel | Hyatt Hotels Corporation Contract                      
Management Agreements and Leases [Line Items]                      
Number of properties | hotel                 17    
Hotel | Radisson Agreement                      
Management Agreements and Leases [Line Items]                      
Number of properties | hotel                 8    
Hotel                      
Management Agreements and Leases [Line Items]                      
Number of properties | hotel                 303    
Properties to be sold | hotel                 67    
Hotel | Disposed of by sale                      
Management Agreements and Leases [Line Items]                      
Number of properties sold | property                 7 18  
Hotel | Subsequent event | Disposed of by sale                      
Management Agreements and Leases [Line Items]                      
Number of properties sold | property           1          
Hotel | Sonesta Agreement                      
Management Agreements and Leases [Line Items]                      
Number of properties | hotel                 261    
Percentage increase in minimum returns                 8.00%    
Percent payment of hotel cash flows                 80.00%    
Hotel net income (loss)                 $ 53,853    
Realized returns and rents                   $ (65,277) $ 67,592
Percentage of reservation fee                 0.015%    
Percentage of system fee for centralized services                 0.015%    
Percentage of procurement and construction supervision fee                 0.03%    
Percentage of incentive fee                 0.20%    
Related party transaction, management, marketing and reservation system fees                 $ 84,926 17,734 36,169
Procurement and construction supervisory fees                 2,196 1,571 3,320
Capital improvements from leased facilities, funded                 93,472 62,963 114,081
Advanced working capital                 56,697 41,514  
Hotel | IHG Agreement                      
Management Agreements and Leases [Line Items]                      
Realized returns and rents                 $ 107,888 205,941  
Hotel | IHG Agreement | Sonesta                      
Management Agreements and Leases [Line Items]                      
Number of properties with transferred branding and management | hotel               115      
Hotel | Hyatt Hotels Corporation Contract                      
Management Agreements and Leases [Line Items]                      
Properties to be sold | hotel                 5    
Operating agreement annual rent and return                 $ 12,000    
Realized returns and rents                 9,388 22,037 22,037
Hotel | Radisson Agreement                      
Management Agreements and Leases [Line Items]                      
Number of properties | hotel     8                
Operating agreement annual rent and return     $ 10,200                
Realized returns and rents                 $ 11,364 20,456 20,056
Hotel | Full service hotels | Sonesta                      
Management Agreements and Leases [Line Items]                      
Number of properties with transferred branding and management | hotel                 102    
Hotel | Full service hotels | Sonesta Agreement                      
Management Agreements and Leases [Line Items]                      
Operating agreement annual rent and return       $ 69,013 $ 99,013            
Property management fees, percentage of gross revenue                 3.00%    
Hotel | Limited services hotels | Sonesta Agreement                      
Management Agreements and Leases [Line Items]                      
Property management fees, percentage of gross revenue                 0.05%    
Hotel | Sonesta International Hotels Corporation                      
Management Agreements and Leases [Line Items]                      
Number of properties | hotel                 261    
Properties to be sold | hotel                 68    
Due to related party, reimbursement of capital expenditures and other                 $ 17,248 $ 26,096 $ 15,537
Hotel | Sonesta International Hotels Corporation | Return Of Capital                      
Management Agreements and Leases [Line Items]                      
Due from related persons                 $ 4,592    
Hotel | Sonesta International Hotels Corporation | Subsequent event                      
Management Agreements and Leases [Line Items]                      
Properties to be sold | hotel 67                    
Properties to be retained | hotel 194                    
Number of renewal options | renewalOption 2                    
Term of renewal options 15 years                    
Annual priority return amount $ 325,200                    
Annual priority return percentage 6.00%                    
Owner priority sale amount $ 84,653                    
Hotel | Sonesta International Hotels Corporation | Full service hotels                      
Management Agreements and Leases [Line Items]                      
Number of real estate properties leased or managed | hotel       14         42    
Hotel | Sonesta International Hotels Corporation | Limited services hotels                      
Management Agreements and Leases [Line Items]                      
Number of real estate properties leased or managed | hotel       39         156    
Hotel | Sonesta International Hotels Corporation | Select service hotels                      
Management Agreements and Leases [Line Items]                      
Number of real estate properties leased or managed | hotel                 63    
Vacation units | Wyndham destinations agreement                      
Management Agreements and Leases [Line Items]                      
Number of units leased | unit                 48