v3.26.1
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Investment in hotel properties, gross $ 3,069,016 $ 3,350,086
Accumulated depreciation (983,772) (1,030,879)
Investment in hotel properties, net 2,085,244 2,319,207
Cash and cash equivalents 66,145 112,907
Restricted cash 149,580 99,695
Accounts receivable, net 32,752 35,579
Allowance for doubtful accounts receivable 424 435
Inventories 3,598 3,631
Deferred costs 1,529 1,788
Other assets 32,057 39,144
Indebtedness, net 2,526,608 2,629,289
Accounts payable and accrued expenses 123,773 137,506
Accrued interest payable 13,993 10,212
Dividends and distributions declared but not paid 4,247 3,952
Other liabilities $ 36,768 $ 34,011
Preferred stock, par value (in dollars per shares) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares) 55,000,000 55,000,000
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 395,000,000 395,000,000
Common stock, shares issued (in shares) 6,476,157 5,636,595
Common stock, shares outstanding (in shares) 6,476,157 5,636,595
Ashford, Inc.    
Other accounts payable $ 40,643 $ 25,635
Related Party    
Other accounts payable 1,949 2,850
Nonrelated Party    
Other accounts payable $ 882 $ 1,145
Preferred Stock, Series J    
Redeemable Preferred Stock, par value (in dollars per share) $ 0.01 $ 0.01
Redeemable Preferred Stock, shares issued (in shares) 7,684,201 6,799,638
Redeemable Preferred Stock, shares outstanding (in shares) 7,684,201 6,799,638
Preferred Stock, Series K    
Redeemable Preferred Stock, par value (in dollars per share) $ 0.01 $ 0.01
Redeemable Preferred Stock, shares issued (in shares) 731,102 601,175
Redeemable Preferred Stock, shares outstanding (in shares) 731,102 601,175
Preferred Stock, Series L    
Redeemable Preferred Stock, par value (in dollars per share) $ 0.01  
Redeemable Preferred Stock, shares issued (in shares) 238,191  
Redeemable Preferred Stock, shares outstanding (in shares) 238,191  
Preferred Stock, Series M    
Redeemable Preferred Stock, par value (in dollars per share) $ 0.01  
Redeemable Preferred Stock, shares issued (in shares) 550,888  
Redeemable Preferred Stock, shares outstanding (in shares) 550,888  
Preferred Stock, Series D    
Preferred stock, shares issued (in shares) 1,111,127 1,111,127
Preferred stock, shares outstanding (in shares) 1,111,127 1,111,127
Preferred Stock, Series F    
Preferred stock, shares issued (in shares) 1,037,044 1,037,044
Preferred stock, shares outstanding (in shares) 1,037,044 1,037,044
Preferred Stock, Series G    
Preferred stock, shares issued (in shares) 1,470,948 1,470,948
Preferred stock, shares outstanding (in shares) 1,470,948 1,470,948
Preferred Stock, Series H    
Preferred stock, shares issued (in shares) 1,037,956 1,037,956
Preferred stock, shares outstanding (in shares) 1,037,956 1,037,956
Preferred Stock, Series I    
Preferred stock, shares issued (in shares) 1,034,303 1,034,303
Preferred stock, shares outstanding (in shares) 1,034,303 1,034,303
Variable Interest Entity, Primary Beneficiary    
Investment in hotel properties, gross $ 82,787 $ 159,378
Accumulated depreciation (5,558) (30,365)
Investment in hotel properties, net 77,229 129,012
Cash and cash equivalents 468 7,286
Restricted cash 4,731 3,430
Accounts receivable, net 143 614
Inventories 44 57
Deferred costs 80 181
Other assets 40 3,090
Indebtedness, net 15,961 65,548
Accounts payable and accrued expenses 15,534 19,963
Accrued interest payable 152 230
Dividends and distributions declared but not paid 0 1
Other liabilities 28,897 28,784
Variable Interest Entity, Primary Beneficiary | Ashford, Inc.    
Other accounts payable 0 5,997
Variable Interest Entity, Primary Beneficiary | Related Party    
Other accounts payable 3,438 113
Variable Interest Entity, Primary Beneficiary | Nonrelated Party    
Other accounts payable $ 0 $ 22