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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities    
Net income (loss) $ (54,637) $ 123,216
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 72,615 77,731
Impairment charges 1,447 0
Amortization of intangibles (77) (81)
Recognition of deferred income (144) (111)
Bad debt expense 902 1,134
Deferred income tax expense (benefit) (33) 22
Equity in (earnings) loss of unconsolidated entities 387 695
(Gain) loss on consolidation of VIE and disposition of assets and hotel properties (38,552) (94,397)
(Gain) loss on derecognition of assets (19,946) (145,634)
(Gain) loss on extinguishment of debt 15 (45)
Realized and unrealized (gain) loss on derivatives 3,576 (6,118)
Amortization of loan costs, discounts and capitalized default interest and write-off of premiums, loan costs and exit fees 17,704 10,028
Equity-based compensation 167 1,287
Non-cash interest income (790) (916)
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 (13,384) (20,403)
Prepaid expenses and other assets 5,879 4,195
Accounts payable and accrued expenses and accrued interest payable 13,275 7,242
Accrued interest associated with hotels in receivership 19,946 20,960
Due to/from related parties (57) (10,122)
Due to/from third-party hotel managers 47 (2,363)
Due to/from Ashford Inc., net (16,986) (4,803)
Operating lease liabilities (213) (204)
Operating lease right-of-use assets 214 201
Other liabilities (3) (3)
Net cash provided by (used in) operating activities (8,648) (38,489)
Cash Flows from Investing Activities    
Improvements and additions to hotel properties (39,767) (64,816)
Net proceeds from disposition of assets and hotel properties 126,404 300,022
Net proceeds from sale of tax credits 18,761 0
Issuance of note receivable (27) (2,632)
Proceeds from property insurance 449 755
Net cash provided by (used in) investing activities 105,820 233,329
Cash Flows from Financing Activities    
Borrowings on indebtedness 506,747 28,223
Repayments of indebtedness (542,293) (316,418)
Payments for loan costs and exit fees (42,118) (16,598)
Payments for dividends and distributions (11,614) (9,466)
Purchases of common stock (4) (49)
Payments for derivatives (4,783) (15,088)
Proceeds from derivatives 2,356 16,429
Proceeds from common stock offerings 0 7,746
Proceeds from preferred stock offerings 28,146 42,341
Payments on finance lease liabilities (221) (234)
Issuance of Stirling OP common units 51 36
Contributions from noncontrolling interests 1,941 2,979
Net cash provided by (used in) financing activities (61,792) (260,099)
Net increase (decrease) in cash, cash equivalents and restricted cash 35,380 (65,259)
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) 255,855 246,275
Supplemental Cash Flow Information    
Interest paid 111,712 142,965
Income taxes paid (refunded) (1,773) 1,055
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Accrued but unpaid capital expenditures 9,292 15,006
Non-cash loan principal associated with default interest and late charges 4,826 0
Non-cash extinguishment of preferred stock 0 5,393
Issuance of common stock from preferred stock exchanges 0 3,609
Non-cash preferred stock dividends 1,912 816
Unsettled proceeds from derivatives 80 1,319
Non-cash derecognition of assets 0 231,639
Dividends and distributions declared but not paid 4,166 3,767
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 99,965 121,774
Restricted cash at end of period 153,870 124,501
Cash, cash equivalents and restricted cash at end of period (including cash, cash equivalents and restricted cash held for sale) 253,835 246,275
Cash and cash equivalents at end of period included in assets held for sale 1,310 0
Restricted cash at end of period included in assets held for sale 710 0
Cash, cash equivalents and restricted cash at end of period (including cash, cash equivalents and restricted cash held for sale) $ 255,855 $ 246,275