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Investment in Unconsolidated Entity (Tables) | 12 Months Ended
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Dec. 31, 2019
Equity Method Investments and Joint Ventures [Abstract] |
Summarized financial information | The following table summarizes our carrying value and ownership interest in OpenKey:
| December 31, 2019 |  | December 31, 2018
Carrying value of the investment in OpenKey (in thousands) | $ | 1,899 |  |  | $ | 1,766 |
Ownership interest in OpenKey | 8.6 | % |  | 8.2 | %
The following table summarizes our equity in earnings (loss) in OpenKey (in thousands):
|  | Year Ended December 31,
Line Item |  | 2019 |  | 2018
Equity in earnings (loss) of unconsolidated entity |  | $ | (199 | ) |  | $ | (234 | )
The following tables summarize the condensed consolidated balance sheet as of December 31, 2018, and the condensed consolidated statements of operations for the years ended December 31, 2019, 2018 and 2017, of Ashford Inc. (in thousands): Ashford Inc. Condensed Consolidated Balance Sheet
| December 31, 2018
Total assets | $ | 379,005 |
Total liabilities | $ | 108,726 |
Series B Convertible Preferred Stock | 200,847 |
Redeemable noncontrolling interests | 3,531 |
Total stockholders’ equity of Ashford Inc. | 65,443 |
Noncontrolling interests in consolidated entities | 458 |
Total equity | 65,901 |
Total liabilities and equity | $ | 379,005 |
Our investment in Ashford Inc., at fair value | $ | 10,114 |
Ashford Inc. Condensed Consolidated Statements of Operations
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
Total revenue | $ | 291,250 |  |  | $ | 195,520 |  |  | $ | 81,573 |
Total operating expenses | (302,480 | ) |  | (196,359 | ) |  | (92,095 | )
Operating income (loss) | (11,230 | ) |  | (839 | ) |  | (10,522 | )
Equity in earnings (loss) of unconsolidated entities | (286 | ) |  | — |  |  | — |
Realized and unrealized gain (loss) on investments, net | — |  |  | — |  |  | (91 | )
Interest expense and amortization of loan cost | (2,367 | ) |  | (1,200 | ) |  | (122 | )
Other income (expense) | 49 |  |  | (505 | ) |  | 264 |
Income tax (expense) benefit | (1,540 | ) |  | 10,364 |  |  | (9,723 | )
Net income (loss) | (15,374 | ) |  | 7,820 |  |  | (20,194 | )
(Income) loss from consolidated entities attributable to noncontrolling interests | 536 |  |  | 924 |  |  | 358 |
Net (income) loss attributable to redeemable noncontrolling interests | 983 |  |  | 1,438 |  |  | 1,484 |
Net income (loss) attributable to Ashford Inc. | $ | (13,855 | ) |  | $ | 10,182 |  |  | $ | (18,352 | )
Preferred dividends | (14,435 | ) |  | (4,466 | ) |  | — |
Amortization of preferred stock discount | (1,928 | ) |  | (730 | ) |  | — |
Net income attributable to common stockholders | $ | (30,218 | ) |  | $ | 4,986 |  |  | $ | (18,352 | )
Our realized gain (loss) on investment in Ashford Inc. | $ | (13,424 | ) |  | $ | — |  |  | $ | — |
Our unrealized gain (loss) on investment in Ashford Inc. | $ | 7,872 |  |  | $ | (8,010 | ) |  | $ | 9,717 |
The following table summarizes the (income) loss allocated to noncontrolling interest in consolidated entities (in thousands):
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
(Income) loss from consolidated entities attributable to noncontrolling interests | $ | (2,032 | ) |  | $ | (2,016 | ) |  | $ | (3,264 | )

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
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