Condensed Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 109,203	$ 171,439
Marketable securities	61,912	0
Total cash, cash equivalents and marketable securities	171,115	171,439
Investments in hotel properties, net	984,953	990,303
Restricted cash	27,457	29,646
Accounts receivable, net of allowance of $49 and $47, respectively	13,418	12,382
Inventories	673	696
Note receivable	8,098	8,098
Deferred costs, net	5,028	4,707
Prepaid expenses	3,782	2,422
Derivative assets	11	35
Other assets	1,965	1,193
Intangible asset, net	2,520	2,542
Due from related party, net	742	541
Due from third-party hotel managers	6,070	5,504
Total assets	1,225,832	1,229,508
Liabilities:
Indebtedness	764,341	765,230
Accounts payable and accrued expenses	30,250	29,273
Dividends payable	1,389	1,425
Unfavorable management contract liabilities	277	316
Due to Ashford Trust OP, net	335	896
Due to Ashford Inc.	2,819	2,546
Due to third-party hotel managers	860	954
Intangible liability, net	3,725	3,739
Liabilities associated with marketable securities and other	10,450	0
Other liabilities	1,109	1,131
Total liabilities	815,555	805,510
Commitments and contingencies (Note 12)
Redeemable noncontrolling interests in operating partnership	142,179	149,555
Equity:
Common stock, $0.01 par value, 200,000,000 shares authorized, 25,393,433 shares issued and 24,054,913 and 24,464,163 shares outstanding at March 31, 2015, and December 31, 2014, respectively	254	254
Additional paid-in capital	390,610	391,184
Accumulated deficit	(95,056)	(96,404)
Treasury stock, at cost, 1,338,520 and 929,270 shares at March 31, 2015, and December 31, 2014, respectively	(23,102)	(16,130)
Total stockholders’ equity of the Company	272,706	278,904
Noncontrolling interest in consolidated entities	(4,608)	(4,461)
Total equity	268,098	274,443
Total liabilities and equity	$ 1,225,832	$ 1,229,508