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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
ASSETS    
Investments in hotel properties, gross ($140,376 and $159,378 attributable to VIEs) $ 3,273,437 $ 3,350,086
Accumulated depreciation ($(34,311) and $(30,365) attributable to VIEs) (1,029,900) (1,030,879)
Investments in hotel properties, net ($106,065 and $129,012 attributable to VIEs) 2,243,537 2,319,207
Contract asset 370,475 366,671
Cash and cash equivalents ($4,979 and $7,286 attributable to VIEs) 99,965 112,907
Restricted cash ($3,743 and $3,430 attributable to VIEs) 153,870 99,695
Accounts receivable ($787 and $614 attributable to VIEs), net of allowance of $560 and $435, respectively 47,746 35,579
Inventories ($55 and $57 attributable to VIEs) 3,686 3,631
Notes receivable, net 11,382 10,565
Investments in unconsolidated entities 7,203 7,590
Deferred costs, net ($166 and $181 attributable to VIEs) 1,706 1,788
Derivative assets 2,445 2,594
Operating lease right-of-use assets 43,627 43,780
Prepaid expenses and other assets ($3,089 and $3,090 attributable to VIEs) 32,993 39,144
Assets held for sale 18,904 96,628
Total assets 3,059,352 3,160,985
Liabilities:    
Indebtedness, net ($46,981 and $65,548 attributable to VIEs) 2,644,765 2,629,289
Debt associated with hotels in receivership 301,040 314,640
Finance lease liability 17,771 17,992
Accounts payable and accrued expenses ($17,896 and $19,963 attributable to VIEs) 130,135 137,506
Accrued interest payable ($363 and $230 attributable to VIEs) 19,851 10,212
Accrued interest associated with hotels in receivership 69,435 52,031
Dividends and distributions payable ($0 and $1 attributable to VIEs) 4,166 3,952
Operating lease liabilities 44,156 44,369
Other liabilities ($28,841 and $28,784 attributable to VIEs) 33,940 34,011
Liabilities related to assets held for sale 29,153 99,139
Total liabilities 3,307,418 3,372,771
Commitments and contingencies (note $16)
Redeemable noncontrolling interests in operating partnership 21,993 22,509
Equity (deficit):    
Common stock, $0.01 par value, 395,000,000 shares authorized, 5,908,610 and 5,636,595 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 59 56
Additional paid-in capital 2,394,458 2,392,518
Accumulated deficit (2,880,095) (2,811,868)
Total stockholders’ equity (deficit) of the Company (485,521) (419,237)
Noncontrolling interest in consolidated entities 12,212 13,402
Total equity (deficit) (473,309) (405,835)
Total liabilities and equity/deficit 3,059,352 3,160,985
Ashford, Inc.    
Liabilities:    
Other accounts payable 8,939 25,635
Related Party    
Liabilities:    
Other accounts payable 2,666 2,850
Nonrelated Party    
ASSETS    
Due from related parties, net ($— and $— attributable to VIEs) 21,813 21,206
Liabilities:    
Other accounts payable 1,401 1,145
Preferred Stock, Series J    
Liabilities:    
Redeemable preferred stock $ 178,571 $ 156,671
Equity (deficit):    
Redeemable Preferred Stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred Stock, Series K    
Liabilities:    
Redeemable preferred stock $ 18,523 $ 14,869
Equity (deficit):    
Redeemable Preferred Stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred Stock, Series L    
Liabilities:    
Redeemable preferred stock $ 2,580 $ 0
Equity (deficit):    
Redeemable Preferred Stock, par value (in dollars per share) $ 0.01  
Preferred Stock, Series M    
Liabilities:    
Redeemable preferred stock $ 3,576 0
Equity (deficit):    
Redeemable Preferred Stock, par value (in dollars per share) $ 0.01  
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