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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
ASSETS    
Investments in hotel properties, gross $ 1,748,734 $ 1,562,806
Accumulated depreciation (288,319) (262,905)
Investments in hotel properties, net 1,460,415 1,299,901
Cash and cash equivalents 80,360 182,578
Restricted cash 70,064 75,910
Accounts receivable, net of allowance of $119 and $101, respectively 19,266 12,739
Inventories 2,321 1,862
Prepaid expenses 8,246 4,409
Derivative assets 911 772
Operating lease right-of-use assets 82,353 0
Other assets 10,847 13,831
Intangible assets, net 5,208 27,678
Due from related party, net 875 0
Due from third-party hotel managers 11,557 4,927
Total assets 1,760,439 1,636,487
Liabilities:    
Indebtedness, net 1,047,681 985,873
Accounts payable and accrued expenses 85,542 64,116
Dividends and distributions payable 9,334 8,514
Due to Ashford Inc. 4,030 4,001
Due to related party, net 0 224
Due to third-party hotel managers 3,154 1,633
Operating lease liabilities 60,779 0
Other liabilities 27,991 29,033
Total liabilities 1,238,511 1,093,394
Commitments and contingencies (note 16)
5.50% Series B cumulative convertible preferred stock, $0.01 par value, 4,965,850 shares issued and outstanding at June 30, 2019 and December 31, 2018 106,123 106,123
Redeemable noncontrolling interests in operating partnership 42,075 44,885
Preferred stock, $0.01 value, 50,000,000 shares authorized:    
Series D cumulative preferred stock, 1,600,000 shares issued and outstanding at June 30, 2019 and December 31, 2018 16 16
Common stock, $0.01 par value, 200,000,000 shares authorized, 32,879,913 and 32,511,660 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively 329 325
Additional paid-in capital 516,700 512,545
Accumulated deficit (137,775) (115,410)
Total stockholders’ equity of the Company 379,270 397,476
Noncontrolling interest in consolidated entities (5,540) (5,391)
Total equity 373,730 392,085
Total liabilities and equity 1,760,439 1,636,487
Ashford Inc.    
ASSETS    
Investment in unconsolidated entity 6,195 10,114
Total assets 418,178 379,005
Liabilities:    
Total liabilities 142,743 108,726
Redeemable noncontrolling interests in operating partnership 3,615 3,531
Preferred stock, $0.01 value, 50,000,000 shares authorized:    
Total stockholders’ equity of the Company 69,588 65,443
Noncontrolling interest in consolidated entities 410 458
Total equity 69,998 65,901
Total liabilities and equity 418,178 379,005
OpenKey    
ASSETS    
Investment in unconsolidated entity $ 1,821 $ 1,766