Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Cash Flows from Operating Activities
Net loss	$ (21,849)	$ (29,957)
Adjustments to reconcile net loss to net cash flow provided by operating activities:
Depreciation and amortization	81,262	98,099
Impairment charges	(310)	(296)
Amortization of loan costs, write-off of loan costs, and exit fees	15,901	7,702
Equity in (earnings) loss of unconsolidated entities	(6,794)	14,626
Dividends from Ashford Prime OP	746	0
Income from financing derivatives	0	(6,215)
Gain on sale of hotel property	(3,658)	(76)
Realized and unrealized gains on marketable securities	(1,535)	(1,899)
Purchases of marketable securities	(91,749)	(15,525)
Sales of marketable securities	79,201	15,287
Net settlement of trading derivatives	(505)	(861)
Unrealized loss on derivatives	680	7,177
Equity-based compensation	16,964	17,049
Changes in operating assets and liabilities, exclusive of effect of acquisitions and disposition of hotel properties:
Restricted cash	(6,771)	571
Accounts receivable and inventories	(6,799)	3,002
Prepaid expenses and other assets	(4,564)	(4,685)
Accounts payable and accrued expenses	24,355	14,837
Due from affiliates	(446)	(248)
Due to/from related party	1,224	(2,568)
Due to/from third-party hotel managers	19,764	(4,163)
Due to/from Ashford Prime OP	(4,629)	0
Other liabilities	2,381	(3,109)
Net cash provided by operating activities	92,869	108,748
Cash Flows from Investing Activities
Proceeds from payments of note receivable	185	184
Net proceeds from sales of hotel properties	22,882	307
Acquisition of hotel properties, net of cash acquired	(57,726)	(88,204)
Restricted cash related to improvements and additions to hotel properties	(39,283)	0
Improvements and additions to hotel properties	(91,483)	(68,958)
Due from Ashford Prime	13,635	0
Payments of franchise fees	(208)	0
Proceeds from property insurance	1,407	0
Net cash used in investing activities	(150,591)	(156,671)
Cash Flows from Financing Activities
Borrowings on indebtedness	718,825	268,875
Repayments of indebtedness and capital leases	(509,152)	(167,884)
Payments of loan costs and exit fees	(20,165)	(4,709)
Payments of dividends	(63,528)	(58,094)
Purchases of treasury shares	(458)	(401)
Payments for derivatives	(661)	(185)
Cash income from derivatives	0	7,878
Issuance of preferred stock	0	244
Issuances of treasury stock	85,840	140,111
Distributions to noncontrolling interests in consolidated entities	(1,235)	(13,489)
Other	50	69
Net cash provided by financing activities	209,516	172,415
Net increase in cash and cash equivalents	151,794	124,492
Cash and cash equivalents at beginning of period	128,780	185,935
Cash and cash equivalents at end of period	280,574	310,427
Supplemental Cash Flow Information
Interest paid	78,508	100,217
Income taxes paid	1,027	1,155
Supplemental Disclosure of Non-Cash Investing and Financing Activity
Deferred compensation to be settled in shares	958	0
Dividend receivable from Ashford Prime	249	0
Transfer of debt to Ashford Prime	69,000	0
Dividends declared but not paid	21,889	20,734
Net other liabilities acquired	396	1,691
Sale of consolidated noncontrolling interest, settled subsequent to period end	$ 1,200	$ 0