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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
ASSETS    
Investments in hotel properties, gross $ 1,774,306 $ 1,784,849
Accumulated depreciation (384,373) (360,259)
Investments in hotel properties, net 1,389,933 1,424,590
Cash and cash equivalents 157,677 78,606
Restricted cash 57,413 34,544
Accounts receivable, net of allowance of $286 and $227, respectively 18,707 13,557
Inventories 2,481 2,551
Prepaid expenses 5,073 4,405
Investment in unconsolidated entity 1,578 1,708
Derivative assets 1  
Operating lease right-of-use assets 80,710 81,260
Other assets 18,593 14,898
Intangible assets, net 4,451 4,640
Due from related parties, net 1,953 991
Due from third-party hotel managers 21,546 12,271
Total assets 1,760,116 1,674,021
Liabilities:    
Indebtedness, net 1,144,175 1,130,594
Accounts payable and accrued expenses 84,460 61,758
Dividends and distributions payable 2,075 2,736
Due to Ashford Inc. 2,516 2,772
Due to third-party hotel managers 1,834 1,393
Operating lease liabilities 60,797 60,917
Other liabilities 18,537 18,077
Total liabilities 1,314,394 1,278,247
Commitments and contingencies (note 15)
5.50% Series B cumulative convertible preferred stock, $0.01 par value, 3,108,017 and 5,031,473 shares issued and outstanding at June 30, 2021 and December 31, 2020 66,064 106,949
Redeemable noncontrolling interests in operating partnership 29,398 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 June 30, 2021 and December 31, 2020 16 16
Common stock, $0.01 par value, 250,000,000 shares authorized, 57,311,232 and 38,274,770 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively 573 382
Additional paid-in capital 661,576 541,870
Accumulated deficit (295,641) (266,010)
Total stockholders’ equity of the Company 366,524 276,258
Noncontrolling interest in consolidated entities (16,264) (15,088)
Total equity 350,260 261,170
Total liabilities and equity $ 1,760,116 $ 1,674,021