XML 43 R30.htm IDEA: XBRL DOCUMENT v3.24.2.u1

Investments in Hotel Properties, net (Tables)

6 Months Ended

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

X

- 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

Name:	us-gaap_DisclosureOfLongLivedAssetsHeldForSaleTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_PropertyPlantAndEquipmentAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_PropertyPlantAndEquipmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration