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Equity (Tables)
 12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Dividends declared
Dividends—The following table summarizes the dividends declared during the period (in thousands):
 
Year Ended December 31,
 
2019
 
2018
 
2017
Common stock
$
21,302

 
$
20,695

 
$
20,623

Preferred stock:
 
 
 
 
 
Series D cumulative preferred stock
3,300

 
376

 
—

Total dividends declared
$
24,602

 
$
21,071

 
$
20,623

The following table summarizes dividends declared (in thousands):
 
Year Ended December 31,
 
2019
 
2018
 
2017
Series B Convertible Preferred Stock
$
6,842

 
$
6,829

 
$
6,795
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
)