v3.22.4
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
ASSETS    
Investments in hotel properties, gross $ 2,055,773 $ 1,845,078
Accumulated depreciation (431,303) (399,481)
Investments in hotel properties, net 1,624,470 1,445,597
Cash and cash equivalents 358,878 215,998
Restricted cash 53,932 47,376
Accounts receivable, net of allowance of $197 and $134, respectively 27,158 23,701
Inventories 4,540 3,128
Prepaid expenses 8,841 4,352
Investment in unconsolidated entity 1,797 1,689
Derivative assets 5,255 139
Operating lease right-of-use assets 79,719 80,462
Other assets 17,489 23,588
Intangible assets, net 3,977 4,261
Due from related parties, net 1,097 1,770
Due from third-party hotel managers 22,941 27,461
Total assets 2,210,094 1,879,522
Liabilities:    
Indebtedness, net 1,236,864 1,172,678
Accounts payable and accrued expenses 122,150 96,316
Dividends and distributions payable 4,353 2,173
Due to Ashford Inc. 8,891 1,474
Due to third-party hotel managers 1,514 610
Operating lease liabilities 60,771 60,937
Other liabilities 20,265 20,034
Derivative liabilities 440 1,435
Total liabilities 1,455,248 1,355,657
Commitments and contingencies (note 15)
Redeemable noncontrolling interests in operating partnership 40,635 36,087
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 September 30, 2022 and December 31, 2021 16 16
Common stock, $0.01 par value, 250,000,000 shares authorized, 71,456,351 and 65,365,470 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively 714 653
Additional paid-in capital 739,394 707,418
Accumulated deficit (307,745) (309,240)
Total stockholders’ equity of the Company 432,379 398,847
Noncontrolling interest in consolidated entities (14,120) (16,549)
Total equity 418,259 382,298
Total liabilities and equity 2,210,094 1,879,522
Series B Preferred Stock    
Liabilities:    
5.50% Series B cumulative convertible preferred stock, $0.01 par value, 3,078,017 shares issued and outstanding at September 30, 2022 and December 31, 2021 65,426 65,426
Series E Preferred Stock    
Liabilities:    
5.50% Series B cumulative convertible preferred stock, $0.01 par value, 3,078,017 shares issued and outstanding at September 30, 2022 and December 31, 2021 204,252 39,339
Series M Preferred Stock    
Liabilities:    
5.50% Series B cumulative convertible preferred stock, $0.01 par value, 3,078,017 shares issued and outstanding at September 30, 2022 and December 31, 2021 $ 26,274 $ 715