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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
ASSETS    
Investments in hotel properties, gross $ 2,043,950 $ 1,845,078
Accumulated depreciation (418,066) (399,481)
Investments in hotel properties, net 1,625,884 1,445,597
Cash and cash equivalents 251,032 215,998
Restricted cash 48,117 47,376
Accounts receivable, net of allowance of $219 and $134, respectively 32,888 23,701
Inventories 4,489 3,128
Prepaid expenses 4,260 4,352
Investment in unconsolidated entity 1,707 1,689
Derivative assets 2,170 139
Operating lease right-of-use assets 79,978 80,462
Other assets 17,789 23,588
Intangible assets, net 4,072 4,261
Due from related parties, net 1,068 1,770
Due from third-party hotel managers 19,145 27,461
Total assets 2,092,599 1,879,522
Liabilities:    
Indebtedness, net 1,237,504 1,172,678
Accounts payable and accrued expenses 112,686 96,316
Dividends and distributions payable 3,535 2,173
Due to Ashford Inc. 2,701 1,474
Due to third-party hotel managers 1,044 610
Operating lease liabilities 60,839 60,937
Other liabilities 20,590 20,034
Derivative liabilities 705 1,435
Total liabilities 1,439,604 1,355,657
Commitments and contingencies (note 15)
Redeemable noncontrolling interests in operating partnership 40,291 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 June 30, 2022 and December 31, 2021 16 16
Common stock, $0.01 par value, 250,000,000 shares authorized, 71,310,367 and 65,365,470 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively 712 653
Additional paid-in capital 738,353 707,418
Accumulated deficit (290,307) (309,240)
Total stockholders’ equity of the Company 448,774 398,847
Noncontrolling interest in consolidated entities (14,943) (16,549)
Total equity 433,831 382,298
Total liabilities and equity 2,092,599 1,879,522
Series B Preferred Stock    
Liabilities:    
5.50% Series B cumulative convertible preferred stock, $0.01 par value, 3,078,017 shares issued and outstanding at June 30, 2022 and December 31, 2021 65,426 65,426
Series E Preferred Stock    
Liabilities:    
5.50% Series B cumulative convertible preferred stock, $0.01 par value, 3,078,017 shares issued and outstanding at June 30, 2022 and December 31, 2021 103,697 39,339
Series M Preferred Stock    
Liabilities:    
5.50% Series B cumulative convertible preferred stock, $0.01 par value, 3,078,017 shares issued and outstanding at June 30, 2022 and December 31, 2021 $ 9,750 $ 715