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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
ASSETS    
Investments in hotel properties, gross $ 1,791,174 $ 1,562,806
Accumulated depreciation (309,752) (262,905)
Investments in hotel properties, net 1,481,422 1,299,901
Cash and cash equivalents 71,995 182,578
Restricted cash 58,388 75,910
Accounts receivable, net of allowance of $153 and $101, respectively 19,053 12,739
Inventories 2,794 1,862
Prepaid expenses 4,992 4,409
Derivative assets 582 772
Other assets 13,018 13,831
Operating lease right-of-use assets 82,596  
Intangible assets, net 5,019 27,678
Due from related parties, net 551 0
Due from third-party hotel managers 16,638 4,927
Total assets 1,758,947 1,636,487
Liabilities:    
Indebtedness, net 1,058,486 985,873
Accounts payable and accrued expenses 94,919 64,116
Dividends and distributions payable 9,143 8,514
Due to Ashford Inc. 4,344 4,001
Due to related parties, net 0 224
Due to third-party hotel managers 1,685 1,633
Operating lease liabilities 61,118  
Other liabilities 17,508 29,033
Total liabilities 1,247,203 1,093,394
Commitments and contingencies (note 18)
5.50% Series B cumulative convertible preferred stock, $0.01 par value, 5,008,421 and 4,965,850 shares issued and outstanding at December 31, 2019 and 2018, respectively 106,920 106,123
Preferred stock, $0.01 value, 50,000,000 shares authorized:    
Series D cumulative preferred stock, 1,600,000 shares issued and outstanding at December 31, 2019 and 2018 16 16
Common stock, $0.01 par value, 200,000,000 shares authorized, 32,885,217 and 32,511,660 shares issued and outstanding at December 31, 2019 and 2018, respectively 329 325
Additional paid-in capital 519,551 512,545
Accumulated deficit (150,629) (115,410)
Total stockholders’ equity of the Company 369,267 397,476
Noncontrolling interest in consolidated entities (6,013) (5,391)
Total equity 363,254 392,085
Total liabilities and equity 1,758,947 1,636,487
OpenKey    
ASSETS    
Investment in Ashford Inc., at fair value 1,899 1,766
Ashford Inc.    
ASSETS    
Investment in Ashford Inc., at fair value   10,114
Total assets   379,005
Liabilities:    
Total liabilities   108,726
Redeemable noncontrolling interests in operating partnership   3,531
Preferred stock, $0.01 value, 50,000,000 shares authorized:    
Total stockholders’ equity of the Company   65,443
Noncontrolling interest in consolidated entities   458
Total equity   65,901
Total liabilities and equity   379,005
Fair Value, Recurring    
ASSETS    
Derivative assets 582 772
Fair Value, Recurring | Fair Value, Inputs, Level 1    
ASSETS    
Derivative assets 0 $ 0
Fair Value, Recurring | Fair Value, Inputs, Level 1 | Ashford Inc.    
ASSETS    
Investment in Ashford Inc., at fair value $ 0