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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
ASSETS    
Investments in hotel properties, gross $ 1,784,849 $ 1,791,174
Accumulated depreciation (360,259) (309,752)
Investments in hotel properties, net 1,424,590 1,481,422
Cash and cash equivalents 78,606 71,995
Restricted cash 34,544 58,388
Accounts receivable, net of allowance of $227 and $153, respectively 13,557 19,053
Inventories 2,551 2,794
Prepaid expenses 4,405 4,992
Investment in unconsolidated entity 1,708 1,899
Derivative assets 0 582
Operating lease right-of-use assets 81,260 82,596
Other assets 14,898 13,018
Intangible assets, net 4,640 5,019
Due from related parties, net 991 551
Due from third-party hotel managers 12,271 16,638
Total assets 1,674,021 1,758,947
Liabilities:    
Indebtedness, net 1,130,594 1,058,486
Accounts payable and accrued expenses 61,758 94,919
Dividends and distributions payable 2,736 9,143
Due to Ashford Inc. 2,772 4,344
Due to third-party hotel managers 1,393 1,685
Operating lease liabilities 60,917 61,118
Other liabilities 18,077 17,508
Total liabilities 1,278,247 1,247,203
Commitments and contingencies (note 17)
5.50% Series B cumulative convertible preferred stock, $0.01 par value, 5,031,473 and 5,008,421 shares issued and outstanding at December 31, 2020 and December 31, 2019 106,949 106,920
Redeemable noncontrolling interests in operating partnership 27,655 41,570
Preferred stock, $0.01 value, 80,000,000 shares authorized:    
8.25% Series D cumulative preferred stock, 1,600,000 shares issued and outstanding at December 31, 2020 and December 31, 2019 16 16
Common stock, $0.01 par value, 250,000,000 shares authorized, 38,274,770 and 32,885,217 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively 382 329
Additional paid-in capital 541,870 519,551
Accumulated deficit (266,010) (150,629)
Total stockholders’ equity of the Company 276,258 369,267
Noncontrolling interest in consolidated entities (15,088) (6,013)
Total equity 261,170 363,254
Total liabilities and equity $ 1,674,021 $ 1,758,947