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Investment in Unconsolidated Entity (Tables)
 9 Months Ended
Sep. 30, 2018
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments
The following table summarizes our carrying value and ownership interest in OpenKey:
 
September 30, 2018
 
December 31, 2017
Carrying value of the investment in OpenKey (in thousands)
$
1,854

 
$
—

Ownership interest in OpenKey
8.2
%
 
—

The following table summarizes our equity in earnings (loss) in OpenKey (in thousands):
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
Line Item
 
2018
 
2017
 
2018
 
2017
Equity in earnings (loss) of unconsolidated entity
 
$
(81
)
 
$
—

 
$
(146
)
 
$
—

Ashford Inc.
Condensed Consolidated Balance Sheets
(unaudited)
 
September 30, 2018
 
December 31, 2017
Total assets
$
389,818

 
$
114,810

Total liabilities
121,763

 
78,742

Series B cumulative convertible preferred stock
200,578

 
—

Redeemable noncontrolling interests
3,778

 
5,111

Total stockholders’ equity of Ashford Inc.
63,050

 
30,185

Noncontrolling interests in consolidated entities
649

 
772

Total equity
63,699

 
30,957

Total liabilities and equity
$
389,818

 
$
114,810

Our investment in Ashford Inc., at fair value
$
14,786

 
$
18,124


Ashford Inc.
Condensed Consolidated Statements of Operations
(unaudited)
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2018
 
2017
 
2018
 
2017
Total revenue
$
41,565

 
$
19,255

 
$
144,544

 
$
51,907

Total operating expenses
(53,069
)
 
(21,595
)
 
(150,214
)
 
(54,965
)
Operating income (loss)
(11,504
)
 
(2,340
)
 
(5,670
)
 
(3,058
)
Realized and unrealized gain (loss) on investments, net
—

 
—

 
—

 
(91
)
Interest expense and loan amortization cost
(419
)
 
(20
)
 
(770
)
 
(35
)
Other income (expense)
25

 
77

 
(50
)
 
220

Income tax (expense) benefit
13,904

 
25

 
11,593

 
(9,248
)
Net income (loss)
2,006

 
(2,258
)
 
5,103

 
(12,212
)
(Income) loss from consolidated entities attributable to noncontrolling interests
413

 
102

 
704

 
267

Net (income) loss attributable to redeemable noncontrolling interests
968

 
300

 
817

 
995

Net income (loss) attributable to Ashford Inc.
$
3,387

 
$
(1,856
)
 
$
6,624

 
$
(10,950
)
Preferred dividends
(1,675
)
 
—

 
(1,675
)
 
—

Amortization of preferred stock discounts
(303
)
 
—

 
(303
)
 
—

Net income attributable to common shareholders
$
1,409

 
$
(1,856
)
 
$
4,646

 
$
(10,950
)
Our unrealized gain (loss) on investment in Ashford Inc.
$
2,158

 
$
1,875

 
$
(3,338
)
 
$
3,403