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Dispositions, Impairment Charges and Assets Held For Sale (Tables) | 6 Months Ended
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Jun. 30, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Hotel Dispositions and Assets Held for Sale | The following table includes condensed financial information f rom the Company’s dispositions (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |
Total hotel revenue | $ | — |  |  | $ | 18,285 |  |  | $ | 159 |  |  | $ | 54,671 |  |  |
Total hotel operating expenses | — |  |  | (11,755) |  |  | (363) |  |  | (38,798) |  |  |
Property taxes, insurance and other | — |  |  | (1,196) |  |  | 180 |  |  | (4,167) |  |  |
Depreciation and amortization | — |  |  | (1,261) |  |  | — |  |  | (5,482) |  |  |
Total operating expenses | — |  |  | (14,212) |  |  | (183) |  |  | (48,447) |  |  |
Gain (loss) on consolidation of VIE and disposition of assets and hotel properties | — |  |  | 87,441 |  |  | 31,868 |  |  | 94,397 |  |  |
Gain (loss) on derecognition of assets | — |  |  | 11,725 |  |  | 10,046 |  |  | 145,634 |  |  |
Operating income (loss) | — |  |  | 103,239 |  |  | 41,890 |  |  | 246,255 |  |  |
Interest income | — |  |  | 65 |  |  | — |  |  | 166 |  |  |
Interest expense and amortization of discounts and loan costs | — |  |  | (3,989) |  |  | (126) |  |  | (10,298) |  |  |
Interest expense associated with hotels in receivership | — |  |  | (11,944) |  |  | (10,046) |  |  | (24,042) |  |  |
Write-off of premiums, loan costs and exit fees | — |  |  | (850) |  |  | — |  |  | (838) |  |  |
Gain (loss) on extinguishment of debt | — |  |  | — |  |  | — |  |  | 45 |  |  |
Income (loss) before income taxes | — |  |  | 86,521 |  |  | 31,718 |  |  | 211,288 |  |  |
(Income) loss before income taxes attributable to redeemable noncontrolling interests in operating partnership | — |  |  | (1,090) |  |  | (507) |  |  | (2,651) |  |  |
Net income (loss) attributable to the Company | $ | — |  |  | $ | 85,431 |  |  | $ | 31,211 |  |  | $ | 208,637 |  |  |
The major classes of assets and liabilities related to assets held for sale included in the consolidated balance sheet were as follows:
| June 30, 2025 |
Assets |  |
Investments in hotel properties, gross | $ | 26,267 |  |
Accumulated depreciation | (9,871) |  |
Investments in hotel properties, net | 16,396 |  |
Cash and cash equivalents | 1,310 |  |
Restricted cash | 710 |  |
Accounts receivable, net | 296 |  |
Inventories | 49 |  |
Deferred costs, net | 8 |  |
Other assets | 135 |  |
Assets held for sale | $ | 18,904 |  |
Liabilities |  |
Indebtedness, net | $ | 27,234 |  |
Accounts payable and accrued expenses | 1,499 |  |
Accrued interest | 229 |  |
Due to related parties, net | 127 |  |
Due to Ashford Inc., net | 64 |  |
Liabilities related to assets held for sale | $ | 29,153 |  |

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