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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Investments in hotel properties, gross $ 2,365,256 $ 2,325,093
Accumulated depreciation (483,081) (440,492)
Investments in hotel properties, net 1,882,175 1,884,601
Cash and cash equivalents 149,496 261,541
Restricted cash 57,333 54,155
Accounts receivable, net of allowance of $233 and $339, respectively 35,939 51,448
Inventories 4,944 5,238
Prepaid expenses 14,006 7,044
Deferred costs, net 75 0
Investment in unconsolidated entity 1,718 1,689
Derivative assets 4,945 6,482
Operating lease right-of-use assets 78,660 79,449
Other assets 18,479 14,621
Intangible assets, net 3,599 3,883
Total assets 2,267,627 2,397,714
Liabilities:    
Indebtedness, net 1,178,720 1,334,130
Accounts payable and accrued expenses 144,064 133,978
Dividends and distributions payable 8,967 8,184
Operating lease liabilities 60,470 60,692
Other liabilities 22,579 22,343
Derivative liabilities 11 284
Total liabilities 1,416,426 1,571,712
Commitments and contingencies (note 15)
Redeemable noncontrolling interests in operating partnership 33,494 40,555
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 September 30, 2023 and December 31, 2022 16 16
Common stock, $0.01 par value, 250,000,000 shares authorized, 65,993,893 and 69,919,065 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively 659 699
Additional paid-in capital 717,564 734,134
Accumulated deficit (377,658) (324,740)
Total stockholders’ equity of the Company 340,581 410,109
Noncontrolling interest in consolidated entities (13,636) (16,346)
Total equity 326,945 393,763
Total liabilities and equity 2,267,627 2,397,714
Ashford Inc.    
ASSETS    
Due from related parties and nonrelated parties 1,538 0
Liabilities:    
Due to related parties and nonrelated parties 0 10,005
Related Party    
ASSETS    
Due from related parties and nonrelated parties 520 938
Nonrelated Party    
ASSETS    
Due from related parties and nonrelated parties 14,200 26,625
Liabilities:    
Due to related parties and nonrelated parties 1,615 2,096
Series B Preferred Stock    
Liabilities:    
Series preferred stock 65,426 65,426
Series E Preferred Stock    
Liabilities:    
Series preferred stock 377,876 291,076
Series M Preferred Stock    
Liabilities:    
Series preferred stock $ 47,460 $ 35,182