Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Assets
Investments in hotel properties, net	$ 990,303	$ 765,326
Cash and cash equivalents	171,439	143,776
Restricted cash	29,646	5,951
Accounts receivable, net of allowance of $47 and $34, respectively	12,382	7,029
Inventories	696	318
Note receivable	8,098	8,098
Deferred costs, net	4,707	4,064
Prepaid expenses	2,422	2,233
Derivative assets	35	0
Other assets	1,193	4,501
Intangible asset, net	2,542	2,631
Due from related party, net	541	12
Due from third-party hotel managers	5,504	18,480
Total assets	1,229,508	962,419
Liabilities:
Indebtedness	765,230	621,882
Accounts payable and accrued expenses	29,273	17,279
Dividends payable	1,425	1,245
Unfavorable management contract liabilities	316	474
Due to Ashford Trust OP, net	896	13,042
Due to Ashford Inc.	2,546	0
Due to third-party hotel managers	954	649
Intangible liability, net	3,739	3,795
Other liabilities	1,131	926
Total liabilities	805,510	659,292
Commitments and contingencies (Note 11)
Redeemable noncontrolling interests in operating partnership	149,555	159,726
Equity:
Common stock, $0.01 par value, 200,000,000 shares authorized, 25,393,433 and 16,129,112 shares issued and 24,464,163 and 16,129,112 shares outstanding at December 31, 2014 and 2013, respectively	254	161
Additional paid-in capital	391,184	246,928
Accumulated deficit	(96,404)	(101,062)
Treasury stock, at cost, 929,270 shares at December 31, 2014	(16,130)	0
Total stockholders’ equity of the Company	278,904	146,027
Noncontrolling interest in consolidated entity	(4,461)	(2,626)
Total equity	274,443	143,401
Total liabilities and equity	$ 1,229,508	$ 962,419