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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 32,284 $ (22,398)
Adjustments to reconcile net income (loss) to net cash flows provided by (used in) operating activities:    
Depreciation and amortization 38,012 36,597
Equity-based compensation 5,550 4,221
Bad debt expense 560 217
Amortization of loan costs, discounts and capitalized default interest (246) (855)
Write-off of loan costs and exit fees 98 1,528
Amortization of intangibles 237 276
Amortization of non-refundable membership initiation fees (710) (443)
Interest expense accretion on refundable membership club deposits 368 392
(Gain) loss on insurance settlement and disposition of assets 0 (696)
Realized and unrealized (gain) loss on derivatives (1,616) 78
Equity in (earnings) loss of unconsolidated entity 146 130
Deferred income tax expense (benefit) 0 (175)
Changes in operating assets and liabilities, exclusive of the effect of hotel acquisition:    
Accounts receivable and inventories (5,069) (5,365)
Prepaid expenses and other assets (1,464) (1,704)
Accounts payable and accrued expenses (202) 26,645
Operating lease right-of-use assets 296 274
Due to/from related parties, net 702 (962)
Due to/from third-party hotel managers 9,018 (8,352)
Due to/from Ashford Inc. 1,122 1,711
Operating lease liabilities (147) (120)
Other liabilities 898 511
Net cash provided by (used in) operating activities 79,837 31,510
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from property insurance 36 0
Net proceeds from disposition of assets 0 1,816
Acquisition of hotel property, net of cash and restricted cash acquired (86,798) (3,000)
Investment in unconsolidated entity (164) 0
Improvements and additions to hotel properties (19,910) (9,094)
Net cash provided by (used in) investing activities (106,836) (10,278)
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings on indebtedness 70,500 83,231
Repayments of indebtedness (68,000) (62,795)
Payments of loan costs and exit fees (1,728) (930)
Payments for derivatives (1,145) (79)
Purchase of common stock (547) (376)
Payments for dividends and distributions (7,334) (4,942)
Proceeds from issuance of preferred stock 71,016 0
Proceeds from issuance of common stock 0 65,679
Common stock offering costs (102) 0
Contributions from noncontrolling interest in consolidated entities 164 920
Other (50) 0
Net cash provided by (used in) financing activities 62,774 80,708
Net change in cash, cash equivalents and restricted cash 35,775 101,940
Cash, cash equivalents and restricted cash at beginning of period 263,374 113,150
Cash, cash equivalents and restricted cash at end of period 299,149 215,090
SUPPLEMENTAL CASH FLOW INFORMATION    
Interest paid 17,036 14,070
Income taxes paid (refunded) (991) (41)
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Dividends and distributions declared but not paid 3,535 2,075
Assumption of debt in hotel acquisition 58,601 0
Capital expenditures accrued but not paid 5,363 3,109
Issuance of common stock for hotel acquisition 35,040 0
Accrued common stock offering expense 0 34
Accrued preferred stock offering expenses 105 0
Non-cash preferred stock dividends 278 0
SUPPLEMENTAL DISCLOSURE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents 251,032 157,677
Restricted cash 48,117 57,413
Cash, cash equivalents and restricted cash $ 299,149 $ 215,090