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Significant Accounting Policies | 6 Months Ended
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Jun. 30, 2025
Accounting Policies [Abstract] |
Significant Accounting Policies | Significant Accounting Policies Basis of Presentation—The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. These consolidated financial statements include the accounts of Ashford Hospitality Trust, Inc., its majority-owned subsidiaries, and its majority-owned joint ventures in which it has a controlling interest. All inter-company accounts and transactions between consolidated entities have been eliminated in these consolidated financial statements. We have condensed or omitted certain information and footnote disclosures normally included in financial statements presented in accordance with GAAP in the accompanying unaudited consolidated financial statements. We believe the disclosures made herein are adequate to prevent the information presented from being misleading. However, the financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our 2024 Annual Report to Stockholders on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 21, 2025. Ashford Trust OP is considered to be a variable interest entity (“VIE”), as defined by authoritative accounting guidance. A VIE must be consolidated by a reporting entity if the reporting entity is the primary beneficiary because it has (i) the power to direct the VIE’s activities that most significantly impact the VIE’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE. All major decisions related to Ashford Trust OP that most significantly impact its economic performance, including, but not limited to, operating procedures with respect to business affairs and any acquisitions, dispositions, financings, restructurings or other transactions with sellers, purchasers, lenders, brokers, agents and other applicable representatives, are subject to the approval of our wholly owned subsidiary, Ashford OP General Partner LLC, its general partner. As such, we consolidate Ashford Trust OP. 815 Commerce Managing Member, LLC (“815 Commerce MM”) is considered to be a VIE, as defined by authoritative accounting guidance. On May 31, 2023, Ashford Trust obtained the ability to exercise its kick-out rights of the manager of 815 Commerce MM, which developed the Le Méridien hotel in Fort Worth, Texas. As a result, Ashford Trust became the primary beneficiary and began consolidating 815 Commerce MM. During 2023, the Company entered into a loan agreement with the manager of 815 Commerce MM to satisfy a balancing deposit that was required by the property construction lender. As of June 30, 2025, the Company has funded $8.9 million. The Company has a Contribution Agreement with Stirling OP, a subsidiary of Stirling Inc. Pursuant to the terms of the Contribution Agreement, the Company contributed its equity interests, and the associated debt and other obligations, in Residence Inn Manchester, Hampton Inn Buford, SpringHill Suites Buford and Residence Inn Jacksonville to Stirling OP in exchange for 1.4 million Class I units of Stirling OP. The Company determined Ashford Trust to be the primary beneficiary of Stirling OP in contemplation of: (1) the related party group comprising: (i) Ashford Trust and (ii) the stockholders who have control over the election or removal of the board of directors of Stirling Inc. who have power to direct the most significant activities of Stirling OP; and (2) the consideration that substantially all the economics are held by the Company through its equity interest, and substantially all of the activities are performed on the Company’s behalf. As such, the properties and debt continue to be reflected on the Company's balance sheet at their historical carrying values. As of June 30, 2025, Ashford Trust remains the primary beneficiary and continues to consolidate Stirling OP. Historical seasonality patterns at some of our hotel properties cause fluctuations in our overall operating results. Consequently, operating results for the three and six months ended June 30, 2025 are not necessarily indicative of the results that may be expected for the year ending December 31, 2025. The following transactions affect reporting comparability of our consolidated financial statements:
Property |  | Location |  | Type |  | Date
Courtyard Columbus Tipton Lakes |  | Columbus, IN |  | Derecognized |  | March 1, 2024
Courtyard Old Town |  | Scottsdale, AZ |  | Derecognized |  | March 1, 2024
Residence Inn Hughes Center |  | Las Vegas, NV |  | Derecognized |  | March 1, 2024
Residence Inn Phoenix Airport |  | Phoenix, AZ |  | Derecognized |  | March 1, 2024
Residence Inn San Jose Newark |  | Newark, CA |  | Derecognized |  | March 1, 2024
SpringHill Suites Manhattan Beach |  | Hawthorne, CA |  | Derecognized |  | March 1, 2024
SpringHill Suites Plymouth Meeting |  | Plymouth Meeting, PA |  | Derecognized |  | March 1, 2024
Courtyard Basking Ridge |  | Basking Ridge, NJ |  | Derecognized |  | March 1, 2024
Courtyard Newark Silicon Valley |  | Newark, CA |  | Derecognized |  | March 1, 2024
Courtyard Oakland Airport |  | Oakland, CA |  | Derecognized |  | March 1, 2024
Courtyard Plano Legacy Park |  | Plano, TX |  | Derecognized |  | March 1, 2024
Residence Inn Plano |  | Plano, TX |  | Derecognized |  | March 1, 2024
SpringHill Suites BWI Airport |  | Baltimore, MD |  | Derecognized |  | March 1, 2024
TownePlace Suites Manhattan Beach |  | Hawthorne, CA |  | Derecognized |  | March 1, 2024
Residence Inn Salt Lake City |  | Salt Lake City, UT |  | Disposition |  | March 6, 2024
Hilton Boston Back Bay |  | Boston, MA |  | Disposition |  | April 9, 2024
Hampton Inn Lawrenceville |  | Lawrenceville, GA |  | Disposition |  | April 23, 2024
Courtyard Manchester |  | Manchester, CT |  | Disposition |  | May 30, 2024
SpringHill Suites Kennesaw |  | Kennesaw, GA |  | Disposition |  | June 10, 2024
Fairfield Inn Kennesaw |  | Kennesaw, GA |  | Disposition |  | June 10, 2024
One Ocean |  | Atlantic Beach, FL |  | Disposition |  | June 27, 2024
The Ashton |  | Fort Worth, TX |  | Disposition |  | July 16, 2024
Le Méridien Fort Worth |  | Fort Worth, TX |  | Developed |  | August 29, 2024
Courtyard Boston |  | Boston, MA |  | Disposition |  | January 10, 2025
Use of Estimates—The preparation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Reclassification—Certain amounts in the prior year financial statements have been reclassified to conform to the current year presentation. Recently Issued Accounting Standard s—In December 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-09 Income Taxes (Topics 740): Improvements to Income Tax Disclosures to expand the disclosure requirements for income taxes, specifically related to rate reconciliation and income taxes paid. ASU 2023-09 is effective for our annual periods beginning January 1, 2025, with early adoption permitted. The amendments in this ASU may be applied prospectively by providing the revised disclosures for the period ending December 31, 2025 and continuing to provide the pre-ASU disclosures for the prior periods, or the amendments may be applied retrospectively by providing the revised disclosures for all periods presented. As of June 30, 2025, the Company has not adopted this ASU. The adoption of this ASU is expected to impact only disclosures with respect to the Company’s consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40) Disaggregation of Income Statement Expenses, which requires more detailed information about specified categories of expenses (purchases of inventory, employee compensation, depreciation, amortization and depletion) included in certain expense captions presented on the face of the statement of operations. This ASU is effective for fiscal years beginning after December 15, 2026 and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The amendments may be applied either (1) prospectively to financial statements issued for reporting periods after the effective date of this ASU or (2) retrospectively to all prior periods presented in the financial statements. We are currently evaluating the impact this ASU will have on our disclosures.

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