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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
ASSETS    
Investments in hotel properties, gross $ 1,845,078 $ 1,784,849
Accumulated depreciation (399,481) (360,259)
Investments in hotel properties, net 1,445,597 1,424,590
Cash and cash equivalents 215,998 78,606
Restricted cash 47,376 34,544
Accounts receivable, net of allowance of $126 and $227, respectively 23,701 13,557
Inventories 3,128 2,551
Prepaid expenses 4,352 4,405
Investment in unconsolidated entity 1,689 1,708
Derivative assets 139 0
Operating lease right-of-use assets 80,462 81,260
Other assets 23,588 14,898
Intangible assets, net 4,261 4,640
Due from related parties, net 1,770 991
Due from third-party hotel managers 27,461 12,271
Total assets 1,879,522 1,674,021
Liabilities:    
Indebtedness, net 1,172,678 1,130,594
Accounts payable and accrued expenses 96,316 61,758
Dividends and distributions payable 2,173 2,736
Due to Ashford Inc. 1,474 2,772
Due to third-party hotel managers 610 1,393
Operating lease liabilities 60,937 60,917
Other liabilities 20,034 18,077
Derivative liabilities 1,435 0
Total liabilities 1,355,657 1,278,247
Commitments and contingencies (note 16)
Redeemable noncontrolling interests in operating partnership 36,087 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 December 31, 2021 and December 31, 2020 16 16
Common stock, $0.01 par value, 250,000,000 shares authorized, 65,365,470 and 38,274,770 shares issued and outstanding at December 31, 2021 and December 31, 2020, respectively 653 382
Additional paid-in capital 707,418 541,870
Accumulated deficit (309,240) (266,010)
Total stockholders’ equity of the Company 398,847 276,258
Noncontrolling interest in consolidated entities (16,549) (15,088)
Total equity 382,298 261,170
Total liabilities and equity 1,879,522 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 December 31, 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 December 31, 2021 and December 31, 2020 39,339 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 December 31, 2021 and December 31, 2020 $ 715 $ 0