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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating Activities    
Net income (loss) $ (86,479) $ (62,048)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 95,009 103,016
Amortization of intangibles 7 55
Recognition of deferred income (249) (250)
Bad debt expense 1,502 1,421
Deferred income tax expense (benefit) 23 285
Equity in (earnings) loss of unconsolidated entities 577 304
(Gain) loss on consolidation of VIE and disposition of assets (1,053) (284)
Realized and unrealized (gain) loss on derivatives (7,168) (9,285)
Amortization of loan costs, discounts and capitalized default interest and write-off of premiums, loan costs and exit fees 11,717 4,546
Equity-based compensation 2,883 4,049
Non-cash interest income (243) (166)
Changes in operating assets and liabilities, net of impact of consolidation of VIE:    
Accounts receivable and inventories (10,575) (22,213)
Prepaid expenses and other assets (2,435) 3,828
Accounts payable and accrued expenses and accrued interest payable 17,743 8,392
Due to/from related parties 2,633 513
Due to/from third-party hotel managers 3,567 2,506
Due to/from Ashford Inc., net 7,838 975
Operating lease liabilities 332 (232)
Operating lease right-of-use assets (336) 262
Other liabilities (4) (3)
Net cash provided by (used in) operating activities 35,289 35,671
Cash Flows from Investing Activities    
Improvements and additions to hotel properties (68,005) (42,786)
Net proceeds from disposition of assets and hotel properties 0 783
Payments for initial franchise fees (149) 0
Proceeds from notes receivable 0 4,000
Proceeds from property insurance 327 1,009
Restricted cash received from initial consolidation of VIE 18,201 0
Net cash provided by (used in) investing activities (49,626) (36,994)
Cash Flows from Financing Activities    
Borrowings on indebtedness 99,655 0
Repayments of indebtedness (257,473) (11,877)
Payments for loan costs and exit fees (9,862) (1,688)
Payments for dividends and distributions (6,674) (6,207)
Purchases of common stock (90) (118)
Redemption of preferred stock (53) 0
Payments for derivatives (14,184) (5,255)
Proceeds from derivatives 31,037 0
Common stock offering costs 0 (215)
Proceeds from preferred stock offerings 34,680 0
Payments on finance lease liabilities (192) 0
Net cash provided by (used in) financing activities (123,156) (25,360)
Net increase (decrease) in cash, cash equivalents and restricted cash (including cash, cash equivalents and restricted cash held for sale) (137,493) (26,683)
Cash, cash equivalents and restricted cash at beginning of period 559,026 691,644
Cash, cash equivalents and restricted cash at end of period (including cash, cash equivalents and restricted cash held for sale) 421,533 664,961
Supplemental Cash Flow Information    
Interest paid 158,928 93,467
Income taxes paid (refunded) 8 4,139
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Accrued but unpaid capital expenditures 17,888 13,798
Accrued stock offering costs 0 58
Common stock purchases accrued but not paid 0 34
Non-cash preferred stock dividends 61 0
Unsettled proceeds from derivatives 1,412 0
Dividends and distributions declared but not paid 3,378 3,104
Consolidation of VIEs (VIE asset/(liability) additions) (681) 0
Supplemental Disclosure of Cash, Cash Equivalents and Restricted Cash    
Cash and cash equivalents 251,547 537,822
Restricted cash, Carrying value 167,473 125,995
Cash, cash equivalents and restricted cash 419,020 663,817
Cash and cash equivalents at end of period included in assets held for sale 2,513 584
Restricted cash at end of period included in assets held for sale 0 560
Cash, cash equivalents and restricted cash at end of period (including cash, cash equivalents and restricted cash held for sale) $ 421,533 $ 664,961