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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
ASSETS    
Investments in hotel properties, gross $ 1,782,753 $ 1,784,849
Accumulated depreciation (376,243) (360,259)
Investments in hotel properties, net 1,406,510 1,424,590
Cash and cash equivalents 85,684 78,606
Restricted cash 39,322 34,544
Accounts receivable, net of allowance of $275 and $227, respectively 17,583 13,557
Inventories 2,383 2,551
Prepaid expenses 6,830 4,405
Investment in unconsolidated entity 1,644 1,708
Operating lease right-of-use assets 80,985 81,260
Other assets 15,646 14,898
Intangible assets, net 4,546 4,640
Due from related parties, net 1,052 991
Due from third-party hotel managers 18,565 12,271
Total assets 1,680,750 1,674,021
Liabilities:    
Indebtedness, net 1,118,824 1,130,594
Accounts payable and accrued expenses 74,098 61,758
Dividends and distributions payable 2,569 2,736
Due to Ashford Inc. 2,115 2,772
Due to third-party hotel managers 1,725 1,393
Operating lease liabilities 60,857 60,917
Other liabilities 18,833 18,077
Total liabilities 1,279,021 1,278,247
Commitments and contingencies (note 15)
5.50% Series B cumulative convertible preferred stock, $0.01 par value, 4,545,016 and 5,031,473 shares issued and outstanding at March 31, 2021 and December 31, 2020 96,609 106,949
Redeemable noncontrolling interests in operating partnership 28,162 27,655
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 March 31, 2021 and December 31, 2020 16 16
Common stock, $0.01 par value, 250,000,000 shares authorized, 43,465,880 and 38,274,770 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively 434 382
Additional paid-in capital 571,288 541,870
Accumulated deficit (278,445) (266,010)
Total stockholders’ equity of the Company 293,293 276,258
Noncontrolling interest in consolidated entities (16,335) (15,088)
Total equity 276,958 261,170
Total liabilities and equity $ 1,680,750 $ 1,674,021