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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows from Operating Activities    
Net income (loss) $ (22,198) $ 72,405
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 37,339 40,544
Amortization of intangibles (39) 17
Recognition of deferred income (72) (56)
Bad debt expense 397 585
Deferred income tax expense (benefit) (34) 16
Equity in (earnings) loss of unconsolidated entities 431 534
(Gain) loss on consolidation of VIE and disposition of assets and hotel properties (31,868) (6,956)
Gain (loss) on derecognition of assets (10,046) (133,909)
(Gain) loss on extinguishment of debt 13 (45)
Realized and unrealized (gain) loss on derivatives 2,740 (4,761)
Amortization of loan costs, discounts and capitalized default interest and write-off of premiums, loan costs and exit fees 9,563 2,966
Equity-based compensation (54) 564
Non-cash interest income (393) (421)
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 (12,562) (15,727)
Prepaid expenses and other assets (2,342) (4,727)
Accounts payable and accrued expenses and accrued interest payable 796 3,986
Accrued interest associated with hotels in receivership 10,046 9,016
Due to/from related parties 1,682 (3,658)
Due to/from third-party hotel managers (245) (3,516)
Due to/from Ashford Inc., net (8,144) (3,250)
Operating lease liabilities (107) (102)
Operating lease right-of-use assets 105 41
Net cash provided by (used in) operating activities (24,992) (46,454)
Cash Flows from Investing Activities    
Improvements and additions to hotel properties (19,851) (33,930)
Net proceeds from disposition of assets and hotel properties 119,204 18,855
Payments for initial franchise fees (66) 0
Issuance of note receivable 0 (1,887)
Proceeds from property insurance 213 154
Net cash provided by (used in) investing activities 99,500 (16,808)
Cash Flows from Financing Activities    
Borrowings on indebtedness 471,562 0
Repayments of indebtedness (523,535) (22,052)
Payments for loan costs and exit fees (33,591) (1,939)
Payments for dividends and distributions (5,647) (4,586)
Payments for derivatives (4,342) (5,280)
Proceeds from derivatives 1,876 9,094
Proceeds from common stock offerings 0 2,043
Proceeds from preferred stock offerings 23,709 20,877
Payments on finance lease liabilities (89) (82)
Issuance of Stirling OP common units 51 10
Contributions from noncontrolling interest in consolidated entities 0 2,048
Net cash provided by (used in) financing activities (70,006) 133
Net increase (decrease) in cash, cash equivalents and restricted cash 4,502 (63,129)
Cash, cash equivalents and restricted cash at beginning of period (including cash, cash equivalents and restricted cash held for sale) 220,475 311,534
Cash, cash equivalents and restricted cash at end of period (including cash, cash equivalents and restricted cash held for sale) 224,977 248,405
Supplemental Cash Flow Information    
Interest paid 54,507 76,129
Income taxes paid (refunded) (15) (403)
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Accrued but unpaid capital expenditures 11,958 16,264
Non-cash extinguishment of preferred stock 0 3,835
Issuance of common stock from preferred stock exchanges 0 2,262
Non-cash preferred stock dividends 913 341
Unsettled proceeds from derivatives 88 1,295
Non-cash derecognition of assets 0 231,639
Dividends and distributions declared but not paid 4,125 3,651
Supplemental Disclosure of Cash, Cash Equivalents and Restricted Cash    
Cash and cash equivalents at beginning of period 112,907 165,231
Restricted cash at beginning of period 99,695 146,079
Cash, cash equivalents and restricted cash at beginning of period 212,602 311,310
Cash and cash equivalents at beginning of period included in assets held for sale 15 1
Restricted cash at beginning of period included in assets held for sale 7,858 223
Cash, cash equivalents and restricted cash at beginning of period (including cash, cash equivalents and restricted cash held for sale) 220,475 311,534
Cash and cash equivalents at end of period 85,787 111,065
Restricted cash at end of period 139,190 132,949
Cash, cash equivalents and restricted cash at end of period (including cash, cash equivalents and restricted cash held for sale) 224,977 244,014
Cash and cash equivalents at end of period included in assets held for sale 0 1,592
Restricted cash at end of period included in assets held for sale 0 2,799
Cash, cash equivalents and restricted cash at end of period (including cash, cash equivalents and restricted cash held for sale) $ 224,977 $ 248,405