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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows from Operating Activities    
Net income (loss) $ 123,216 $ (86,479)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 77,731 95,009
Amortization of intangibles (81) 7
Recognition of deferred income (111) (249)
Bad debt expense 1,134 1,502
Deferred income tax expense (benefit) 22 23
Equity in (earnings) loss of unconsolidated entities 695 577
(Gain) loss on consolidation of VIE and disposition of assets and hotel properties (94,397) (1,053)
Gain (loss) on derecognition of assets (145,634) 0
(Gain) loss on extinguishment of debt (45) 0
Realized and unrealized (gain) loss on derivatives (6,118) (7,168)
Amortization of loan costs, discounts and capitalized default interest and write-off of premiums, loan costs and exit fees 10,028 11,717
Equity-based compensation 1,287 2,883
Non-cash interest income (916) (243)
Changes in operating assets and liabilities, exclusive of the effect of the consolidation of VIE and disposition of asset and hotel properties and derecognition of assets:    
Accounts receivable and inventories (20,403) (10,575)
Prepaid expenses and other assets 4,195 (2,435)
Accounts payable and accrued expenses and accrued interest payable 7,242 15,849
Accrued interest associated with hotels in receivership 20,960 1,894
Due to/from related parties (10,122) 2,633
Due to/from third-party hotel managers (2,363) 3,567
Due to/from Ashford Inc., net (4,803) 7,838
Operating lease liabilities (204) 332
Operating lease right-of-use assets 201 (336)
Other liabilities (3) (4)
Net cash provided by (used in) operating activities (38,489) 35,289
Cash Flows from Investing Activities    
Improvements and additions to hotel properties (64,816) (68,005)
Net proceeds from disposition of assets and hotel properties 300,022 0
Payments for initial franchise fees 0 (149)
Issuance of note receivable (2,632) 0
Proceeds from property insurance 755 327
Restricted cash received from initial consolidation of VIE 0 18,201
Net cash provided by (used in) investing activities 233,329 (49,626)
Cash Flows from Financing Activities    
Borrowings on indebtedness 28,223 99,655
Repayments of indebtedness (316,418) (257,473)
Payments for loan costs and exit fees (16,598) (9,862)
Payments for dividends and distributions (9,466) (6,674)
Purchases of common stock (49) (90)
Redemption of preferred stock 0 (53)
Payments for derivatives (15,088) (14,184)
Proceeds from derivatives 16,429 31,037
Proceeds from common stock offerings 7,746 0
Proceeds from preferred stock offerings 42,341 34,680
Payments on finance lease liabilities (234) (192)
Issuance of Stirling OP common units 36 0
Contributions from noncontrolling interest in consolidated entities 2,979 0
Net cash provided by (used in) financing activities (260,099) (123,156)
Net increase (decrease) in cash, cash equivalents and restricted cash (65,259) (137,493)
Cash, cash equivalents and restricted cash at beginning of period (including cash, cash equivalents and restricted cash held for sale) 311,534 559,026
Cash, cash equivalents and restricted cash at end of period (including cash, cash equivalents and restricted cash held for sale) 246,275 421,533
Supplemental Cash Flow Information    
Interest paid 142,695 158,928
Income taxes paid (refunded) 1,055 8
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Accrued but unpaid capital expenditures 15,006 17,888
Accrued common stock offering costs 66 0
Accrued preferred stock offering costs 13 0
Non-cash issuance of Stirling OP common units 8 0
Non-cash extinguishment of preferred stock 5,393 0
Issuance of common stock from preferred stock exchanges 3,609 0
Non-cash preferred stock dividends 816 61
Unsettled proceeds from derivatives 1,319 1,412
Non-cash derecognition of assets 231,639 0
Dividends and distributions declared but not paid 3,767 3,378
Consolidation of VIEs (VIE asset/(liability) additions 0 (681)
Supplemental Disclosure of Cash, Cash Equivalents and Restricted Cash    
Cash and cash equivalents at beginning of period 165,231 417,064
Restricted cash at beginning of period 146,079 141,962
Cash, cash equivalents and restricted cash at beginning of period (including cash, cash equivalents and restricted cash held for sale) 311,310 559,026
Cash and cash equivalents at beginning of period included in assets held for sale 1 0
Restricted cash at beginning of period included in assets held for sale 223 0
Cash, cash equivalents and restricted cash at beginning of period (including cash, cash equivalents and restricted cash held for sale) 311,534 559,026
Cash and cash equivalents at end of period 121,774 251,547
Restricted cash at end of period 124,501 167,473
Cash, cash equivalents and restricted cash at end of period (including cash, cash equivalents and restricted cash held for sale) 246,275 419,020
Restricted cash at end of period included in assets held for sale 0 2,513
Cash, cash equivalents and restricted cash at end of period (including cash, cash equivalents and restricted cash held for sale) $ 246,275 $ 421,533