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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
ASSETS    
Investments in hotel properties, gross $ 1,847,755 $ 1,784,849
Accumulated depreciation (395,753) (360,259)
Investments in hotel properties, net 1,452,002 1,424,590
Cash and cash equivalents 195,517 78,606
Restricted cash 44,753 34,544
Accounts receivable, net of allowance of $126 and $227, respectively 17,317 13,557
Inventories 2,718 2,551
Prepaid expenses 4,297 4,405
Investment in unconsolidated entity 1,627 1,708
Derivative assets 74  
Operating lease right-of-use assets 80,593 81,260
Other assets 14,439 14,898
Intangible assets, net 4,356 4,640
Due from related parties, net 1,910 991
Due from third-party hotel managers 20,390 12,271
Total assets 1,839,993 1,674,021
Liabilities:    
Indebtedness, net 1,172,787 1,130,594
Accounts payable and accrued expenses 89,265 61,758
Dividends and distributions payable 2,112 2,736
Due to Ashford Inc. 820 2,772
Due to third-party hotel managers 1,665 1,393
Operating lease liabilities 60,876 60,917
Other liabilities 20,699 18,077
Derivative liabilities 1,338 0
Total liabilities 1,349,562 1,278,247
Commitments and contingencies (note 15)
Redeemable noncontrolling interests in operating partnership 39,948 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 September 30, 2021 and December 31, 2020 16 16
Common stock, $0.01 par value, 250,000,000 shares authorized, 63,974,117 and 38,274,770 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively 639 382
Additional paid-in capital 698,481 541,870
Accumulated deficit (303,836) (266,010)
Total stockholders’ equity of the Company 395,300 276,258
Noncontrolling interest in consolidated entities (16,714) (15,088)
Total equity 378,586 261,170
Total liabilities and equity 1,839,993 1,674,021
Series B Preferred Stock    
Liabilities:    
5.50% Series B cumulative convertible preferred stock, $0.01 par value, 3,078,017 and 5,031,473 shares issued and outstanding at September 30, 2021 and December 31, 2020 65,426 106,949
Series E Preferred Stock    
Liabilities:    
5.50% Series B cumulative convertible preferred stock, $0.01 par value, 3,078,017 and 5,031,473 shares issued and outstanding at September 30, 2021 and December 31, 2020 6,110 0
Series M Preferred Stock    
Liabilities:    
5.50% Series B cumulative convertible preferred stock, $0.01 par value, 3,078,017 and 5,031,473 shares issued and outstanding at September 30, 2021 and December 31, 2020 $ 361 $ 0