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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash Flows from Operating Activities    
Net income $ 2,153 $ 8,699
Adjustments to reconcile net income to net cash flows provided by (used in) operating activities:    
Depreciation and amortization 23,167 21,076
Equity-based compensation 2,306 1,165
Bad debt expense 91 59
Amortization of loan costs 1,639 1,193
Write-off of loan costs and exit fees 0 54
Amortization of intangibles 27 (108)
Realized and unrealized gain on marketable securities 0 (1,068)
Realized and unrealized (gain) loss on derivatives (6,130) 40
Unrealized loss on investment in Ashford Inc. 633 0
Purchases of trading securities 0 (105,878)
Sales of trading securities 0 55,654
Equity in loss of unconsolidated entity 2,587 820
Deferred tax (benefit) expense 135 (875)
Payments for derivatives (114) 0
Changes in operating assets and liabilities, exclusive of the effect of hotel acquisitions:    
Restricted cash (13,692) (926)
Accounts receivable and inventories (4,624) (886)
Prepaid expenses and other assets (3,218) (1,621)
Accounts payable and accrued expenses 14,046 4,316
Due to/from related party, net (182) (108)
Due to/from third-party hotel managers (703) (2,385)
Due to/from Ashford Trust OP, net (513) 198
Due to Ashford Inc. 1,827 (142)
Other liabilities 116 (40)
Net cash provided by (used in) operating activities 19,551 (20,763)
Cash Flows from Investing Activities    
Acquisition of hotel properties, net of cash acquired 0 (3,750)
Proceeds from liquidation of AQUA U.S. Fund 43,489 0
Proceeds from property insurance 0 24
Change in restricted cash related to improvements and additions to hotel properties 4,835 1,200
Improvements and additions to hotel properties (6,947) (8,698)
Net cash provided by (used in) investing activities 41,377 (11,224)
Cash Flows from Financing Activities    
Borrowings on indebtedness 0 70,000
Repayments of indebtedness (4,252) (72,872)
Payments of loan costs and exit fees (20) (1,048)
Payments for derivatives (4) (8)
Repurchase of common stock (24,705) (8,875)
Payments for dividends and distributions (7,582) (3,310)
Issuance of preferred stock 4,387 62,823
Issuance of common stock 0 3,104
Forfeiture of restricted shares/units 0 (5)
Redemption of operating partnership units 0 (5,856)
Distributions to a noncontrolling interest in a consolidated entity (3,766) (2,938)
Other 19 0
Net cash provided by (used in) financing activities (35,923) 41,015
Net change in cash and cash equivalents 25,005 9,028
Cash and cash equivalents at beginning of period 105,039 171,439
Cash and cash equivalents at end of period 130,014 180,467
Supplemental Cash Flow Information    
Interest paid 19,645 17,121
Income taxes paid 348 1,212
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Investment in unconsolidated entity 0 51,292
Stock repurchase accrued but not paid 5,457 0
Dividends and distributions declared but not paid 4,962 3,518
Capital expenditures accrued but not paid 734 780
Receivable related to liquidation of AQUA U.S. Fund 2,289 0
Accrued preferred stock offering expenses 201 0
Non-cash preferred stock offering expense $ 479 $ 0