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Investments in Hotel Properties, net (Tables) | 6 Months Ended
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Jun. 30, 2024
Property, Plant and Equipment [Abstract] |
Schedule of Investment in Hotel Properties | Investments in hotel properties, net consisted of the following (in thousands):
|  | June 30, 2024 |  | December 31, 2023
Land |  | $ | 630,842 |  |  | $ | 630,842 |
Buildings and improvements |  | 1,429,670 |  |  | 1,535,501 |
Furniture, fixtures and equipment |  | 169,828 |  |  | 166,673 |
Construction in progress |  | 26,437 |  |  | 36,954 |
Residences |  | 12,746 |  |  | 12,746 |
Total cost |  | 2,269,523 |  |  | 2,382,716 |
Accumulated depreciation |  | (469,885) |  |  | (498,508) |
Investments in hotel properties, net |  | $ | 1,799,638 |  |  | $ | 1,884,208 |
Summary of Assets Held-for-Sale | The major classes of assets and liabilities related to assets held for sale included in the consolidated balance sheet at June 30, 2024 were as follows:
| June 30, 2024
Assets |
Investments in hotel properties, net | $ | 65,156 |
Cash and cash equivalents | 5,711 |
Restricted cash | 8,402 |
Accounts receivable, net | 1,586 |
Inventories | 61 |
Prepaid expenses | 373 |
Operating lease right-of-use assets | 43,538 |
Other assets | 104 |
Assets held for sale | $ | 124,931 |
Liabilities |
Indebtedness, net | $ | 66,482 |
Accounts payable and accrued expenses | 5,114 |
Due to Ashford Inc., net | 173 |
Due to third-party hotel managers, net | 579 |
Operating lease liabilities | 41,112 |
Liabilities related to assets held for sale | $ | 113,460 |

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- Definition Tabular disclosure of long lived assets held for sale. Disclosure may include the description of the facts and circumstances leading to the expected disposal, manner and timing of disposal, the carrying value of the assets held for sale, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 3 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-3 + Details
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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-1 + Details
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