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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
ASSETS    
Investments in hotel properties, gross ($159,197 and $159,378 attributable to VIEs) $ 3,334,874 $ 3,350,086
Accumulated depreciation ($(32,217) and $(30,365) attributable to VIEs) (1,036,328) (1,030,879)
Investments in hotel properties, net ($126,980 and $129,012 attributable to VIEs) 2,298,546 2,319,207
Contract asset 376,717 366,671
Cash and cash equivalents ($5,131 and $7,286 attributable to VIEs) 85,787 112,907
Restricted cash ($3,410 and $3,430 attributable to VIEs) 139,190 99,695
Accounts receivable ($738 and $614 attributable to VIEs), net of allowance of $507 and $435, respectively 48,020 35,579
Inventories ($44 and $57 attributable to VIEs) 3,684 3,631
Notes receivable, net 10,958 10,565
Investments in unconsolidated entities 7,159 7,590
Deferred costs, net ($170 and $181 attributable to VIEs) 1,817 1,788
Prepaid expenses ($443 and $430 attributable to VIEs) 19,553 11,667
Derivative assets 3,313 2,594
Operating lease right-of-use assets 43,706 43,780
Other assets ($2,576 and $2,660 attributable to VIEs) 21,049 26,680
Intangible assets 797 797
Assets held for sale 0 96,628
Total assets 3,082,421 3,160,985
Liabilities:    
Indebtedness, net ($65,619 and $65,548 attributable to VIEs) 2,651,183 2,629,289
Debt associated with hotels in receivership 314,640 314,640
Finance lease liability 17,903 17,992
Other finance liability ($27,092 and $27,058 attributable to VIEs) 27,092 27,058
Accounts payable and accrued expenses ($19,235 and $19,963 attributable to VIEs) 129,185 137,506
Accrued interest payable ($473 and $230 attributable to VIEs) 17,658 10,212
Accrued interest associated with hotels in receivership 62,077 52,031
Dividends and distributions payable ($1 and $1 attributable to VIEs) 4,125 3,952
Intangible liabilities, net 1,973 1,981
Operating lease liabilities 44,263 44,369
Other liabilities ($1,709 and $1,726 attributable to VIEs) 4,899 4,972
Liabilities related to assets held for sale 0 99,139
Total liabilities 3,298,551 3,372,771
Commitments and contingencies (note $16)
Redeemable noncontrolling interests in operating partnership 22,262 22,509
Equity (deficit):    
Common stock, $0.01 par value, 395,000,000 shares authorized, 5,790,076 and 5,636,595 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 58 56
Additional paid-in capital 2,393,647 2,392,518
Accumulated deficit (2,839,867) (2,811,868)
Total stockholders’ equity (deficit) of the Company (446,105) (419,237)
Noncontrolling interest in consolidated entities 11,687 13,402
Total equity (deficit) (434,418) (405,835)
Total liabilities and equity/deficit 3,082,421 3,160,985
Ashford, Inc.    
Liabilities:    
Other accounts payable 17,600 25,635
Related Party    
Liabilities:    
Other accounts payable 4,532 2,850
Nonrelated Party    
ASSETS    
Due from related parties, net 22,125 21,206
Liabilities:    
Other accounts payable 1,421 1,145
Preferred Stock, Series J    
Liabilities:    
Redeemable preferred stock 177,247 156,671
Preferred Stock, Series K    
Liabilities:    
Redeemable preferred stock 18,779 14,869
Preferred Stock, Series D    
Equity (deficit):    
Preferred stock, $0.01 par value, 55,000,000 shares authorized: 11 11
Preferred Stock, Series F    
Equity (deficit):    
Preferred stock, $0.01 par value, 55,000,000 shares authorized: 10 10
Preferred Stock, Series G    
Equity (deficit):    
Preferred stock, $0.01 par value, 55,000,000 shares authorized: 15 15
Preferred Stock, Series H    
Equity (deficit):    
Preferred stock, $0.01 par value, 55,000,000 shares authorized: 10 10
Preferred Stock, Series I    
Equity (deficit):    
Preferred stock, $0.01 par value, 55,000,000 shares authorized: $ 11 $ 11