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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
ASSETS    
Investments in hotel properties, gross $ 1,794,504 $ 1,791,174
Accumulated depreciation (325,322) (309,752)
Investments in hotel properties, net 1,469,182 1,481,422
Cash and cash equivalents 141,793 71,995
Restricted cash 45,418 58,388
Accounts receivable, net of allowance of $220 and $153, respectively 13,834 19,053
Inventories 2,718 2,794
Prepaid expenses 6,603 4,992
Derivative assets 650 582
Operating lease right-of-use assets 82,255 82,596
Other assets 15,446 13,018
Intangible assets, net 4,924 5,019
Due from related parties, net 854 551
Due from third-party hotel managers 16,953 16,638
Total assets 1,802,515 1,758,947
Liabilities:    
Indebtedness, net 1,134,488 1,058,486
Accounts payable and accrued expenses 87,440 94,919
Dividends and distributions payable 3,208 9,143
Due to third-party hotel managers 1,663 1,685
Operating lease liabilities 61,064 61,118
Other liabilities 17,906 17,508
Total liabilities 1,309,017 1,247,203
Commitments and contingencies (note 15)
5.50% Series B cumulative convertible preferred stock, $0.01 par value, 5,031,473 and 5,008,421 shares issued and outstanding at March 31, 2020 and December 31, 2019 107,352 106,920
Preferred stock, $0.01 value, 80,000,000 shares authorized:    
Series D cumulative preferred stock, 1,600,000 shares issued and outstanding at March 31, 2020 and December 31, 2019 16 16
Common stock, $0.01 par value, 250,000,000 shares authorized, 33,510,912 and 32,885,217 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively 335 329
Additional paid-in capital 524,341 519,551
Accumulated deficit (166,108) (150,629)
Total stockholders’ equity of the Company 358,584 369,267
Noncontrolling interest in consolidated entities (9,224)  
Total equity 349,360 363,254
Total liabilities and equity 1,802,515 1,758,947
OpenKey    
ASSETS    
Investment in unconsolidated entity $ 1,885 $ 1,899