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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
REVENUE        
Total revenue $ 118,884,000 $ 108,846,000 $ 365,913,000 $ 332,453,000
Hotel operating expenses:        
Total hotel expenses 79,147,000 68,816,000 238,378,000 204,843,000
Property taxes, insurance and other 7,690,000 6,835,000 20,356,000 18,516,000
Depreciation and amortization 16,831,000 14,474,000 51,991,000 42,291,000
Impairment charges 0 0 0 71,000
Advisory services fee 5,158,000 5,733,000 15,579,000 15,857,000
Transaction costs 0 0 704,000 949,000
Corporate general and administrative 1,575,000 1,765,000 3,633,000 2,999,000
Total expenses 110,401,000 97,623,000 330,641,000 285,526,000
Gain (loss) on disposition of assets and sale of hotel property (1,163,000) 0 (1,154,000) 15,711,000
Operating income (loss) 7,320,000 11,223,000 34,118,000 62,638,000
Equity in earnings (loss) of unconsolidated entity (48,000) (81,000) (149,000) (146,000)
Interest income 249,000 540,000 898,000 970,000
Other income (expense) (114,000) (64,000) (370,000) (190,000)
Interest expense and amortization of loan costs (13,646,000) (13,084,000) (41,894,000) (35,941,000)
Write-off of loan costs and exit fees (335,000) 0 (647,000) (4,178,000)
Unrealized gain (loss) on investment in Ashford Inc. (1,471,000) 2,158,000 (5,390,000) (3,338,000)
Unrealized gain (loss) on derivatives (754,000) (578,000) (972,000) (803,000)
INCOME (LOSS) BEFORE INCOME TAXES (8,799,000) 114,000 (14,406,000) 19,012,000
Income tax (expense) benefit (155,000) (740,000) (1,493,000) (2,514,000)
NET INCOME (LOSS) (8,954,000) (626,000) (15,899,000) 16,498,000
(Income) loss attributable to noncontrolling interest in consolidated entities (1,899,000) (1,695,000) (1,750,000) (1,742,000)
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership 1,465,000 452,000 2,770,000 (1,075,000)
Net income (loss) attributable to Ashford Inc. (9,388,000) (1,869,000) (14,879,000) 13,681,000
Preferred dividends (2,533,000) (1,707,000) (7,597,000) (5,122,000)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (11,921,000) $ (3,576,000) $ (22,476,000) $ 8,559,000
INCOME (LOSS) PER SHARE - BASIC:        
Net income (loss) attributable to common stockholders (in dollars per share) $ (0.37) $ (0.12) $ (0.71) $ 0.25
Weighted average common shares outstanding – basic (in shares) 32,347 32,023 32,259 31,905
INCOME (LOSS) PER SHARE - DILUTED:        
Net income (loss) attributable to common stockholders (in dollars per share) $ (0.37) $ (0.12) $ (0.71) $ 0.25
Weighted average common shares outstanding – diluted (in shares) 32,347 32,023 32,259 31,922
Total hotel revenue        
REVENUE        
Total revenue $ 118,882,000 $ 108,846,000 $ 365,906,000 $ 332,453,000
Rooms        
REVENUE        
Total revenue 76,808,000 74,358,000 228,660,000 218,304,000
Hotel operating expenses:        
Total hotel expenses 18,265,000 16,624,000 52,080,000 48,194,000
Food and beverage        
REVENUE        
Total revenue 26,422,000 21,171,000 84,326,000 70,064,000
Hotel operating expenses:        
Total hotel expenses 20,721,000 16,171,000 62,325,000 49,078,000
Other        
REVENUE        
Total revenue 15,652,000 13,317,000 52,920,000 44,085,000
Hotel operating expenses:        
Total hotel expenses 36,201,000 32,058,000 111,431,000 95,490,000
Other        
REVENUE        
Total revenue 2,000 0 7,000 0
Management fees        
Hotel operating expenses:        
Total hotel expenses $ 3,960,000 $ 3,963,000 $ 12,542,000 $ 12,081,000