XML 22 R3.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
ASSETS    
Investments in hotel properties, gross $ 2,325,093 $ 1,845,078
Accumulated depreciation (440,492) (399,481)
Investments in hotel properties, net 1,884,601 1,445,597
Cash and cash equivalents 261,541 215,998
Restricted cash 54,155 47,376
Accounts receivable, net of allowance of $339 and $134, respectively 51,448 23,701
Inventories 5,238 3,128
Prepaid expenses 7,044 4,352
Investment in unconsolidated entity 1,689 1,689
Derivative assets 6,482 139
Operating lease right-of-use assets 79,449 80,462
Other assets 14,621 23,588
Intangible assets, net 3,883 4,261
Due from related parties, net 938 1,770
Due from third-party hotel managers 26,625 27,461
Total assets 2,397,714 1,879,522
Liabilities:    
Indebtedness, net 1,334,130 1,172,678
Accounts payable and accrued expenses 133,978 96,316
Dividends and distributions payable 8,184 2,173
Due to Ashford Inc. 10,005 1,474
Due to third-party hotel managers 2,096 610
Operating lease liabilities 60,692 60,937
Other liabilities 22,343 20,034
Derivative liabilities 284 1,435
Total liabilities 1,571,712 1,355,657
Commitments and contingencies (note $16)
Redeemable noncontrolling interests in operating partnership 40,555 36,087
Preferred stock, $0.01 par value, 80,000,000 shares authorized:    
8.25% Series D cumulative preferred stock, 1,600,000 shares issued and outstanding at December 31, 2022 and December 31, 2021 16 16
Common stock, $0.01 par value, 250,000,000 shares authorized, 69,919,065 and 65,365,470 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively 699 653
Additional paid-in capital 734,134 707,418
Accumulated deficit (324,740) (309,240)
Total stockholders’ equity of the Company 410,109 398,847
Noncontrolling interest in consolidated entities (16,346) (16,549)
Total equity 393,763 382,298
Total liabilities and equity 2,397,714 1,879,522
Series B Preferred Stock    
Liabilities:    
Series preferred stock 65,426 65,426
Series E Preferred Stock    
Liabilities:    
Series preferred stock 291,076 39,339
Series M Preferred Stock    
Liabilities:    
Series preferred stock $ 35,182 $ 715