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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (9,145) $ 23,901
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 67,791 57,616
Equity-based compensation 6,854 8,941
Bad debt expense 592 727
(Gain) loss on extinguishment of debt (2,318) 0
Amortization of loan costs, discounts and capitalized default interest 1,485 (525)
Write-off of loan costs and exit fees 2,848 106
Amortization of intangibles 356 356
Amortization of non-refundable membership initiation fees (1,288) (1,150)
Interest expense accretion on refundable membership club deposits 507 545
Realized and unrealized (gain) loss on derivatives (918) (4,019)
Equity in (earnings) loss of unconsolidated entity 208 220
Deferred income tax expense (benefit) 112 0
Changes in operating assets and liabilities, exclusive of the effect of hotel acquisitions:    
Accounts receivable and inventories 15,058 443
Prepaid expenses and other assets (10,720) (5,745)
Accounts payable and accrued expenses 784 8,013
Operating lease right-of-use assets 433 436
Due to/from related parties, net 418 673
Due to/from third-party hotel managers 11,944 5,692
Operating lease liabilities (222) (215)
Other liabilities 1,017 836
Net cash provided by (used in) operating activities 73,001 103,986
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from property insurance 327 36
Payments for initial franchise fee (75) 0
Acquisition of hotel properties, net of cash and restricted cash acquired 0 (86,798)
Investment in unconsolidated entity (237) (328)
Improvements and additions to hotel properties (55,593) (36,528)
Net cash provided by (used in) investing activities (55,578) (123,618)
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings on indebtedness 236,000 70,500
Repayments of indebtedness (390,210) (68,250)
Payments of loan costs and exit fees (3,340) (1,847)
Payments for derivatives (3,981) (2,092)
Proceeds from derivatives 6,014 0
Purchase of common stock (19,308) (1,307)
Payments for dividends and distributions (39,431) (12,981)
Net proceeds from issuance of preferred stock 97,863 185,176
Common stock offering costs 0 (102)
Contributions from noncontrolling interest in consolidated entities 4,050 164
Redemption of operating partnership units (7,162) 0
Distributions to noncontrolling interest in consolidated entities (2,024) 0
Redemption of preferred stock (4,761) (193)
Net cash provided by (used in) financing activities (126,290) 169,068
Net change in cash, cash equivalents and restricted cash (108,867) 149,436
Cash, cash equivalents and restricted cash at beginning of period 315,696 263,374
Cash, cash equivalents and restricted cash at end of period 206,829 412,810
SUPPLEMENTAL CASH FLOW INFORMATION    
Interest paid 67,345 29,747
Income taxes paid (refunded) 3,129 1,209
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Dividends and distributions declared but not paid 8,967 4,353
Common stock purchases accrued but not paid 0 1
Assumption of debt in hotel acquisition 0 58,601
Capital expenditures accrued but not paid 15,954 6,746
Issuance of common stock for hotel acquisition 0 35,040
Accrued preferred stock offering expenses 0 53
Dividends and distributions payable 8,967  
Unsettled proceeds from derivatives 479 0
SUPPLEMENTAL DISCLOSURE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents 149,496 358,878
Restricted cash 57,333 53,932
Cash, cash equivalents and restricted cash 206,829 412,810
Ashford Inc.    
Changes in operating assets and liabilities, exclusive of the effect of hotel acquisitions:    
Due to/from Ashford Inc. (12,795) 7,135
Non-cash preferred stock dividends    
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Dividends and distributions payable 2,682 639
Non-cash common stock dividends    
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Dividends and distributions payable $ 0 $ 5