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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows from Operating Activities    
Net income (loss) $ (150,930) $ (84,371)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 140,963 152,444
Amortization of intangibles (44) 78
Recognition of deferred income (374) (374)
Bad debt expense 2,887 2,456
Deferred income tax expense (benefit) 4 141
Equity in (earnings) loss of unconsolidated entities 715 451
(Gain) loss on consolidation of VIE and disposition of assets (7,443) (273)
Realized and unrealized (gain) loss on derivatives (4,490) (19,059)
Amortization of loan costs, discounts and capitalized default interest and write-off of premiums, loan costs and exit fees 20,415 7,760
Equity-based compensation 4,374 5,324
Non-cash interest income (497) (262)
Changes in operating assets and liabilities, exclusive of the effect of the disposition of hotel properties and the impact of consolidation of VIE:    
Accounts receivable and inventories (28,630) (24,893)
Prepaid expenses and other assets 3,995 (7,257)
Accounts payable and accrued expenses and accrued interest payable 45,518 10,401
Due to/from related parties 960 148
Due to/from third-party hotel managers (1,868) (942)
Due to/from Ashford Inc., net 10,503 (2,286)
Operating lease liabilities 226 (325)
Operating lease right-of-use assets (231) 355
Other liabilities (4) (6)
Net cash provided by (used in) operating activities 36,049 39,510
Cash Flows from Investing Activities    
Improvements and additions to hotel properties (99,482) (68,054)
Net proceeds from disposition of assets and hotel properties 14,452 34,707
Payments for initial franchise fees (402) 0
Proceeds from notes receivable 5,250 4,000
Issuance of note receivable (5,722) 0
Proceeds from property insurance 1,788 1,009
Restricted cash received from initial consolidation of VIE 18,201 0
Net cash provided by (used in) investing activities (65,915) (28,338)
Cash Flows from Financing Activities    
Borrowings on indebtedness 101,732 1,552
Repayments of indebtedness (342,935) (49,326)
Payments for loan costs and exit fees (10,491) (2,298)
Payments for dividends and distributions (10,649) (9,312)
Purchases of common stock (90) (316)
Redemption of preferred stock (75) 0
Payments for derivatives (22,285) (5,255)
Proceeds from derivatives 47,565 0
Common stock offering costs 0 (273)
Proceeds from preferred stock offerings 60,102 0
Payments on finance lease liabilities (307) 0
Contributions from noncontrolling interest in consolidated entities 5,192 0
Net cash provided by (used in) financing activities (172,241) (65,228)
Net increase (decrease) in cash, cash equivalents and restricted cash (including cash, cash equivalents and restricted cash held for sale) (202,107) (54,056)
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) 356,919 637,588
Supplemental Cash Flow Information    
Interest paid 242,339 153,155
Income taxes paid (refunded) (2,947) 7,419
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Accrued but unpaid capital expenditures 16,917 14,996
Accrued stock offering costs 0 1,219
Non-cash preferred stock dividends 191 0
Unsettled proceeds from derivatives 1,782 0
Dividends and distributions declared but not paid 3,568 3,103
Assumption of debt from consolidation of VIE 35,052 0
Assumption of other finance liability from consolidation of VIE 26,729 0
Acquisition of hotel property from consolidation of VIE 61,100 0
Supplemental Disclosure of Cash, Cash Equivalents and Restricted Cash    
Cash and cash equivalents 184,181 505,533
Restricted cash, Carrying value 171,896 132,055
Cash, cash equivalents and restricted cash 356,077 637,588
Cash and cash equivalents at end of period included in assets held for sale 556 0
Restricted cash at end of period included in assets held for sale 286 0
Cash, cash equivalents and restricted cash at end of period (including cash, cash equivalents and restricted cash held for sale) $ 356,919 $ 637,588