CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash Flows from Operating Activities
Net income (loss)	$ (105,390)	$ (101,920)
Adjustments to reconcile net income (loss) to net cash flow from operating activities:
Depreciation and amortization	57,627	66,350
Impairment charges	0	27,613
Amortization of intangibles	33	(69)
Recognition of deferred income	(125)	(237)
Bad debt expense	279	682
Deferred income tax expense (benefit)	(5)	(321)
Equity in (earnings) loss of unconsolidated entities	137	79
(Gain) loss on disposition of assets and hotel properties	69	(3,623)
Realized and unrealized (gain) loss on marketable securities	0	(627)
Purchases of marketable securities	0	(452)
Sales of marketable securities	0	15,233
Net settlement of trading derivatives	0	4,630
Realized and unrealized (gain) loss on derivatives	(919)	(4,197)
Amortization of loan costs, discounts and capitalized default interest and write-off of premiums, loan costs and exit fees	(6,068)	6,603
Equity-based compensation	1,944	4,906
Amortization of parking asset	0	117
Non-cash interest income	(223)	(208)
Paid-in kind interest expense	6,663	0
Changes in operating assets and liabilities, exclusive of the effect of acquisitions and dispositions of hotel properties:
Accounts receivable and inventories	(11,593)	9,738
Prepaid expenses and other assets	1,880	(11,344)
Operating lease right-of-use assets	126	265
Operating lease liabilities	(125)	(162)
Accounts payable and accrued expenses and accrued interest payable	(20,354)	1,440
Due to/from related parties	(2,376)	(1,380)
Due to/from third-party hotel managers	(2,212)	(1,303)
Due to/from Ashford Inc., net	(11,293)	(632)
Other liabilities	(1)	692
Net cash provided by (used in) operating activities	(91,926)	11,873
Cash Flows from Investing Activities
Investment in unconsolidated entity	0	(51)
Improvements and additions to hotel properties	(9,072)	(20,365)
Net proceeds from disposition of assets and hotel properties	7,291	4,654
Proceeds from property insurance	670	147
Net cash provided by (used in) investing activities	(1,111)	(15,615)
Cash Flows from Financing Activities
Borrowings on indebtedness, net of commitment fee	195,500	37,000
Repayments of indebtedness	(4,330)	(45,287)
Payments for loan costs and exit fees	(17,530)	(1,176)
Payments for dividends and distributions	0	(17,974)
Payments for derivatives	(292)	(63)
Proceeds from common stock offerings	45,467	0
Net cash provided by (used in) financing activities	218,815	(27,500)
Net increase (decrease) in cash, cash equivalents and restricted cash	125,778	(31,242)
Cash, cash equivalents and restricted cash at beginning of period	167,313	398,207
Cash, cash equivalents and restricted cash and at end of period	293,091	366,965
Supplemental Cash Flow Information
Interest paid	58,872	51,272
Income taxes paid (refunded)	(38)	(87)
Supplemental Disclosure of Non-Cash Investing and Financing Activities
Accrued but unpaid capital expenditures	6,344	18,714
Accrued stock offering costs	155	0
Common stock purchases accrued but not paid	46	358
Non-cash loan principal associated with default interest and late charges	32,627	0
Non-cash extinguishment of preferred stock	103,188	0
Issuance of common stock from preferred stock exchanges	92,553	0
Debt discount associated with embedded debt derivative	43,681	0
Unsettled common stock offering proceeds	809	0
Accrued but unpaid financing costs	0	4,994
Supplemental Disclosure of Cash, Cash Equivalents and Restricted Cash
Cash, cash equivalents and restricted cash	$ 167,313	$ 398,207