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Dispositions, Impairment Charges and Assets Held For Sale (Tables) | 12 Months Ended
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Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Hotel Dispositions and Assets Held for Sale | The following table includes condensed financial information for the years ended December 31, 2023, 2022 and 2021 f rom the Company’s dispositions (in thousands):
|  |  | Year Ended December 31,
|  |  |  |  | 2023 |  | 2022 |  | 2021
Total hotel revenue |  |  |  |  | $ | 80,018 |  |  | $ | 88,983 |  |  | $ | 58,867 |
Total hotel operating expenses |  |  |  |  | (60,698) |  |  | (65,053) |  |  | (47,817) |
Property taxes, insurance and other |  |  |  |  | (3,906) |  |  | (4,402) |  |  | (4,560) |
Depreciation and amortization |  |  |  |  | (12,782) |  |  | (17,322) |  |  | (20,867) |
Total operating expenses |  |  |  |  | (77,386) |  |  | (86,777) |  |  | (73,244) |
Gain (loss) on disposition of assets and hotel properties |  |  |  |  | 10,279 |  |  | (1) |  |  | 237 |
Operating income (loss) |  |  |  |  | 12,911 |  |  | 2,205 |  |  | (14,140) |
Interest income |  |  |  |  | 40 |  |  | 5 |  |  | — |
Interest expense and amortization of discounts and loan costs |  |  |  |  | (20,994) |  |  | (13,805) |  |  | (8,796) |
Write-off of premiums, loan costs and exit fees |  |  |  |  | (110) |  |  | — |  |  | — |
Gain (loss) on extinguishment of debt |  |  |  |  | 53,386 |  |  | — |  |  | 10,566 |
Income (loss) before income taxes |  |  |  |  | 45,233 |  |  | (11,595) |  |  | (12,370) |
(Income) loss before income taxes attributable to redeemable noncontrolling interests in operating partnership |  |  |  |  | (521) |  |  | 90 |  |  | 103 |
Net income (loss) attributable to the Company |  |  |  |  | $ | 44,712 |  |  | $ | (11,505) |  |  | $ | (12,267) |
The major classes of assets and liabilities related to assets held for sale included in the consolidated balance sheet at December 31, 2023 were as follows:
| December 31, 2023 |
Assets |  |
Investments in hotel properties, net | $ | 11,949 |  |
Cash and cash equivalents | 1 |  |
Restricted cash | 223 |  |
Accounts receivable, net | 171 |  |
Prepaid expenses | 22 |  |
Due from third-party hotel managers | 17 |  |
Assets held for sale | $ | 12,383 |  |
Liabilities |  |
Indebtedness, net | $ | 14,366 |  |
Accounts payable and accrued expenses | 231 |  |
Accrued interest | 55 |  |
Due from Ashford Inc. | 1 |  |
Liabilities related to assets held for sale | $ | 14,653 |  |

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