CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands |
Dec. 31, 2021 |
Dec. 31, 2020 |
| ASSETS |
|
|
| Investments in hotel properties, gross |
$ 1,845,078
|
$ 1,784,849
|
| Accumulated depreciation |
(399,481)
|
(360,259)
|
| Investments in hotel properties, net |
1,445,597
|
1,424,590
|
| Cash and cash equivalents |
215,998
|
78,606
|
| Restricted cash |
47,376
|
34,544
|
| Accounts receivable, net of allowance of $126 and $227, respectively |
23,701
|
13,557
|
| Inventories |
3,128
|
2,551
|
| Prepaid expenses |
4,352
|
4,405
|
| Investment in unconsolidated entity |
1,689
|
1,708
|
| Derivative assets |
139
|
0
|
| Operating lease right-of-use assets |
80,462
|
81,260
|
| Other assets |
23,588
|
14,898
|
| Intangible assets, net |
4,261
|
4,640
|
| Due from related parties, net |
1,770
|
991
|
| Due from third-party hotel managers |
27,461
|
12,271
|
| Total assets |
1,879,522
|
1,674,021
|
| Liabilities: |
|
|
| Indebtedness, net |
1,172,678
|
1,130,594
|
| Accounts payable and accrued expenses |
96,316
|
61,758
|
| Dividends and distributions payable |
2,173
|
2,736
|
| Due to Ashford Inc. |
1,474
|
2,772
|
| Due to third-party hotel managers |
610
|
1,393
|
| Operating lease liabilities |
60,937
|
60,917
|
| Other liabilities |
20,034
|
18,077
|
| Derivative liabilities |
1,435
|
0
|
| Total liabilities |
1,355,657
|
1,278,247
|
| Commitments and contingencies (note 16) |
|
|
| Redeemable noncontrolling interests in operating partnership |
36,087
|
27,655
|
| Preferred stock, $0.01 value, 80,000,000 shares authorized: |
|
|
| 8.25% Series D cumulative preferred stock, 1,600,000 shares issued and outstanding at December 31, 2021 and December 31, 2020 |
16
|
16
|
| Common stock, $0.01 par value, 250,000,000 shares authorized, 65,365,470 and 38,274,770 shares issued and outstanding at December 31, 2021 and December 31, 2020, respectively |
653
|
382
|
| Additional paid-in capital |
707,418
|
541,870
|
| Accumulated deficit |
(309,240)
|
(266,010)
|
| Total stockholders’ equity of the Company |
398,847
|
276,258
|
| Noncontrolling interest in consolidated entities |
(16,549)
|
(15,088)
|
| Total equity |
382,298
|
261,170
|
| Total liabilities and equity |
1,879,522
|
1,674,021
|
| Series B Preferred Stock |
|
|
| Liabilities: |
|
|
| 5.50% Series B cumulative convertible preferred stock, $0.01 par value, 3,078,017 and 5,031,473 shares issued and outstanding at December 31, 2021 and December 31, 2020 |
65,426
|
106,949
|
| Series E Preferred Stock |
|
|
| Liabilities: |
|
|
| 5.50% Series B cumulative convertible preferred stock, $0.01 par value, 3,078,017 and 5,031,473 shares issued and outstanding at December 31, 2021 and December 31, 2020 |
39,339
|
0
|
| Series M Preferred Stock |
|
|
| Liabilities: |
|
|
| 5.50% Series B cumulative convertible preferred stock, $0.01 par value, 3,078,017 and 5,031,473 shares issued and outstanding at December 31, 2021 and December 31, 2020 |
$ 715
|
$ 0
|