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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
ASSETS    
Investments in hotel properties, gross $ 2,044,378 $ 1,845,078
Accumulated depreciation (409,567) (399,481)
Investments in hotel properties, net 1,634,811 1,445,597
Cash and cash equivalents 185,157 215,998
Restricted cash 41,181 47,376
Accounts receivable, net of allowance of $157 and $134, respectively 29,248 23,701
Inventories 4,321 3,128
Prepaid expenses 7,508 4,352
Investment in unconsolidated entity 1,617 1,689
Derivative assets 1,058 139
Operating lease right-of-use assets 80,196 80,462
Other assets 17,839 23,588
Intangible assets, net 4,167 4,261
Due from related parties, net 930 1,770
Due from third-party hotel managers 40,108 27,461
Total assets 2,048,141 1,879,522
Liabilities:    
Indebtedness, net 1,238,148 1,172,678
Accounts payable and accrued expenses 118,511 96,316
Dividends and distributions payable 3,229 2,173
Due to Ashford Inc. 3,788 1,474
Due to third-party hotel managers 578 610
Operating lease liabilities 60,864 60,937
Other liabilities 20,589 20,034
Derivative liabilities 1,870 1,435
Total liabilities 1,447,577 1,355,657
Commitments and contingencies (note 15)
Redeemable noncontrolling interests in operating partnership 42,291 36,087
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, 2022 and December 31, 2021 16 16
Common stock, $0.01 par value, 250,000,000 shares authorized, 71,269,799 and 65,365,470 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively 712 653
Additional paid-in capital 736,911 707,418
Accumulated deficit (303,323) (309,240)
Total stockholders’ equity of the Company 434,316 398,847
Noncontrolling interest in consolidated entities (16,411) (16,549)
Total equity 417,905 382,298
Total liabilities and equity 2,048,141 1,879,522
Series B Preferred Stock    
Liabilities:    
#REF! 65,426 65,426
Series E Preferred Stock    
Liabilities:    
#REF! 73,404 39,339
Series M Preferred Stock    
Liabilities:    
#REF! $ 1,538 $ 715