v3.26.1
Summary of Fair Value of Financial Instruments - Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Financial assets measured at fair value:        
Derivative assets $ 410 $ 2,594    
Financial assets not measured at fair value:        
Cash and cash equivalents 66,145 112,907 $ 165,231 $ 417,064
Restricted cash 149,580 99,695 146,079 $ 141,962
Accounts receivable, net 32,752 35,579    
Notes receivable, net, Carrying value 12,187 10,565    
Financial liabilities not measured at fair value:        
Debt associated with hotels in receivership 272,800 314,640    
Accounts payable and accrued expenses 123,773 137,506    
Accrued interest payable 13,993 10,212    
Accrued interest associated with hotels in receivership 82,338 52,031    
Dividends and distributions declared but not paid 4,247 3,952 $ 3,566  
Fair Value Measurements Recurring        
Financial assets measured at fair value:        
Derivative assets 410 2,594    
Embedded debt derivative | Fair Value Measurements Recurring        
Financial liabilities measured at fair value:        
Derivative liabilities, Carrying value   $ 29,099    
Derivative Liability, Statement Of Financial Position, Extensible Enumeration, Not Disclosed Flag   Indebtedness, net ($15,961 and $65,548 attributable to VIEs)    
Nonrelated Party        
Financial assets not measured at fair value:        
Other receivables 25,667 $ 21,206    
Financial liabilities not measured at fair value:        
Other accounts payable 882 1,145    
Ashford, Inc.        
Financial liabilities not measured at fair value:        
Other accounts payable 40,643 25,635    
Related Party        
Financial liabilities not measured at fair value:        
Other accounts payable 1,949 2,850    
Carrying Value        
Financial assets measured at fair value:        
Derivative assets 410 2,594    
Financial liabilities measured at fair value:        
Derivative liabilities, Carrying value 0 29,099    
Financial assets not measured at fair value:        
Cash and cash equivalents 66,816 112,922    
Restricted cash 149,580 107,553    
Accounts receivable, net 32,879 36,231    
Notes receivable, net, Carrying value 12,187 10,565    
Financial liabilities not measured at fair value:        
Indebtedness, Carrying value 2,587,185 2,705,981    
Debt associated with hotels in receivership 272,800 314,640    
Accounts payable and accrued expenses 125,817 138,895    
Accrued interest payable 14,347 10,576    
Accrued interest associated with hotels in receivership 82,338 52,031    
Dividends and distributions declared but not paid 4,247 3,952    
Carrying Value | Nonrelated Party        
Financial assets not measured at fair value:        
Other receivables 25,667 21,604    
Financial liabilities not measured at fair value:        
Other accounts payable 882 1,145    
Carrying Value | Ashford, Inc.        
Financial liabilities not measured at fair value:        
Other accounts payable 40,708 25,653    
Carrying Value | Related Party        
Financial liabilities not measured at fair value:        
Other accounts payable 1,958 2,850    
Estimated Fair Value        
Financial assets measured at fair value:        
Derivative assets, Estimated fair value 410 2,594    
Financial liabilities measured at fair value:        
Derivative liabilities, Estimated fair value 0 29,099    
Financial assets not measured at fair value:        
Cash and cash equivalents, Estimated fair value 66,816 112,922    
Restricted cash, Estimated fair value 149,580 107,553    
Accounts receivable, Estimated fair value 32,879 36,231    
Notes receivable, net, Estimated fair value 12,187 10,565    
Financial liabilities not measured at fair value:        
Indebtedness, Estimated fair value 2,587,088 2,695,013    
Debt associated with hotels in receivership, Estimated fair value 229,172 257,546    
Accounts payable and accrued expenses, Estimated fair value 125,817 138,895    
Accrued interest payable, Estimated fair value 14,347 10,576    
Accrued interest associated with hotels in receivership, Estimated fair value 82,338 52,031    
Dividends payable, Estimated fair value 4,247 3,952    
Estimated Fair Value | Nonrelated Party        
Financial assets not measured at fair value:        
Other receivables, Estimated fair value 25,667 21,604    
Financial liabilities not measured at fair value:        
Other accounts payable, Estimated fair value 882 1,145    
Estimated Fair Value | Ashford, Inc.        
Financial liabilities not measured at fair value:        
Other accounts payable, Estimated fair value 40,708 25,653    
Estimated Fair Value | Related Party        
Financial liabilities not measured at fair value:        
Other accounts payable, Estimated fair value $ 1,958 $ 2,850