XML 15 R2.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Investments in hotel properties, gross $ 2,269,523 $ 2,382,716
Accumulated depreciation (469,885) (498,508)
Investments in hotel properties, net 1,799,638 1,884,208
Cash and cash equivalents 114,607 85,599
Restricted cash 52,339 80,904
Accounts receivable, net of allowance of $201 and $237, respectively 32,412 39,199
Inventories 4,634 5,003
Prepaid expenses 4,929 9,938
Deferred costs, net 75 75
Investment in unconsolidated entity 1,540 1,674
Derivative assets 2,177 2,847
Operating lease right-of-use assets 34,317 78,383
Other assets 19,349 17,751
Intangible assets, net 3,314 3,504
Assets held for sale 124,931 0
Total assets 2,211,715 2,226,824
Liabilities:    
Indebtedness, net 1,128,439 1,162,444
Accounts payable and accrued expenses 129,667 149,867
Dividends and distributions payable 9,333 9,158
Operating lease liabilities 19,110 60,379
Other liabilities 23,740 22,756
Derivative liabilities 0 12
Liabilities associated with assets held for sale 113,460 0
Total liabilities 1,426,994 1,408,298
Commitments and contingencies (note $15)
Redeemable noncontrolling interests in operating partnership 31,579 32,395
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 June 30, 2024 and December 31, 2023 16 16
Common stock, $0.01 par value, 250,000,000 shares authorized, 66,522,206 and 66,636,353 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 665 666
Additional paid-in capital 718,901 718,498
Accumulated deficit (437,302) (412,199)
Total stockholders’ equity of the Company 282,280 306,981
Noncontrolling interest in consolidated entities (9,980) (8,934)
Total equity 272,300 298,047
Total liabilities and equity 2,211,715 2,226,824
Ashford Inc.    
Liabilities:    
Due to related parties and nonrelated parties 2,571 1,471
Related Party    
ASSETS    
Due from third-party hotel managers 365 0
Liabilities:    
Due to related parties and nonrelated parties 0 603
Nonrelated Party    
ASSETS    
Due from third-party hotel managers 17,088 17,739
Liabilities:    
Due to related parties and nonrelated parties 674 1,608
Series B Preferred Stock    
Liabilities:    
Series preferred stock 65,426 65,426
Series E Preferred Stock    
Liabilities:    
Series preferred stock 374,847 377,035
Series M Preferred Stock    
Liabilities:    
Series preferred stock $ 40,569 $ 45,623