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Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Noncontrolling Interest The following tables present information about noncontrolling interests in our consolidated subsidiaries, including those related to consolidated VIEs, as of June 30, 2020 and December 31, 2019 (in thousands):

 
June 30, 2020
 
Ashford
Holdings
 
JSAV (3)
 
OpenKey(4)
 
Pure
Wellness (5)
 
RED (6)
 
Other
Ashford Inc. ownership interest
99.84
%
 
88.70
%
 
47.75
%
 
70.00
%
 
84.21
%
 
55.00
%
Redeemable noncontrolling interests(1) (2)
0.16
%
 
11.30
%
 
26.38
%
 
—
%
 
—
%
 
—
%
Noncontrolling interests in consolidated entities
—
%
 
—
%
 
25.87
%
 
30.00
%
 
15.79
%
 
45.00
%
 
100.00
%
 
100.00
%
 
100.00
%
 
100.00
%
 
100.00
%
 
100.00
%
 
 
 
 
 
 
 
 
 
 
 
 
Carrying value of redeemable noncontrolling interests
$
42

 
$
2,044

 
$
1,596

 
n/a

 
n/a

 
n/a

Redemption value adjustment, year-to-date
305

 
4

 
200

 
n/a

 
n/a

 
n/a

Redemption value adjustment, cumulative
420

 
788

 
2,297

 
n/a

 
n/a

 
n/a

Carrying value of noncontrolling interests
—

 
—

 
217

 
141

 
(118
)
 
11

Assets, available only to settle subsidiary’s obligations (7) (8)
n/a

 
52,553

 
1,339

 
1,371

 
21,961

 
145

Liabilities (9)
n/a

 
44,397

 
670

 
1,265

 
13,795

 
61

Notes payable (9)
n/a

 
20,017

 
—

 
—

 
7,686

 
—

Revolving credit facility (9)
n/a

 
—

 
—

 
40

 
246

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2019
 
Ashford
Holdings
 
JSAV (3)
 
OpenKey(4)
 
Pure
Wellness (5)
 
RED (6)
 
Other
Ashford Inc. ownership interest
99.81
%
 
88.20
%
 
47.61
%
 
70.00
%
 
84.21
%
 
55.00
%
Redeemable noncontrolling interests(1) (2)
0.19
%
 
11.80
%
 
26.59
%
 
—
%
 
—
%
 
—
%
Noncontrolling interests in consolidated entities
—
%
 
—
%
 
25.80
%
 
30.00
%
 
15.79
%
 
45.00
%
 
100.00
%
 
100.00
%
 
100.00
%
 
100.00
%
 
100.00
%
 
100.00
%
 
 
 
 
 
 
 
 
 
 
 
 
Carrying value of redeemable noncontrolling interests
$
98

 
$
2,449

 
$
1,584

 
n/a

 
n/a

 
n/a

Redemption value adjustment, year-to-date
(63
)
 
784

 
64

 
n/a

 
n/a

 
n/a

Redemption value adjustment, cumulative
115

 
784

 
2,097

 
n/a

 
n/a

 
n/a

Carrying value of noncontrolling interests
—

 
—

 
395

 
164

 
37

 
32

Assets, available only to settle subsidiary’s obligations (7)
n/a

 
56,824

 
1,881

 
1,852

 
19,277

 
250

Liabilities (9)
n/a

 
44,542

 
510

 
1,671

 
10,652

 
59

Notes payable (9)
n/a

 
17,785

 
—

 
—

 
6,275

 
—

Revolving credit facility (9)
n/a

 
2,599

 
—

 
45

 
106

 
—

________
(1) 
Redeemable noncontrolling interests are included in the “mezzanine” section of our condensed consolidated balance sheets as they may be redeemed by the holder for cash or registered shares in certain circumstances outside of the Company’s control. The carrying value of the noncontrolling interests is based on the greater of the accumulated historical cost or the redemption value, which is generally fair value.
(2)    Redeemable noncontrolling interests in Ashford Holdings represent the members’ proportionate share of equity in earnings/losses of Ashford Holdings. Net income/loss attributable to the common unit holders is allocated based on the weighted average ownership percentage of the members’ interest.
(3)    Represents ownership interests in JSAV, which we consolidate under the voting interest model. JSAV provides event technology and creative communications solutions in the hospitality industry. See also notes 1, 10 and 11.
(4)    Represents ownership interests in OpenKey, a VIE for which we are considered the primary beneficiary and therefore we consolidate it. OpenKey is a hospitality focused mobile key platform that provides a universal smartphone app for keyless entry into hotel guest rooms. See also notes 1, 10 and 11.
(5)    Represents ownership interests in Pure Wellness, a VIE for which we are considered the primary beneficiary and therefore we consolidate it. Pure Wellness provides hypoallergenic premium rooms in the hospitality industry. See also notes 1 and 10.
(6)    Represents ownership interests in RED, a VIE for which we are considered the primary beneficiary and therefore we consolidate it. RED is a provider of watersports activities and other travel and transportation services and includes the entity that conducts RED’s legacy U.S. Virgin Islands operations and Sebago, a leading provider of watersports activities and excursion services based in Key West, Florida which was acquired by RED in 2019. We are provided a preferred return on our investment in RED’s legacy U.S. Virgin Islands operations and Sebago which is accounted for in our income allocation based on the applicable partnership agreement. See also notes 1 and 10.
(7)    Total assets consist primarily of cash and cash equivalents, property and equipment and other assets that can only be used to settle the subsidiaries’ obligations.
(8)    The assets of Sebago are not available to settle the obligations of the entity that conducts RED’s legacy U.S. Virgin Islands operations.
(9)    Liabilities consist primarily of accounts payable, accrued expenses and notes payable for which creditors do not have recourse to Ashford Inc. except in the case of the term loans and line of credit held by RED’s legacy U.S. Virgin Islands operations, for which the creditor has recourse to Ashford Inc.
Investments in Unconsolidated Entities
The following table summarizes our carrying value and ownership interest in REA Holdings (in thousands):
 
June 30, 2020
 
December 31, 2019
Carrying value of the investment in REA Holdings
$
2,915

 
2,662

Ownership interest in REA Holdings
30
%
 
30
%
The following table summarizes our equity in earnings (loss) in REA Holdings (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2020
 
2019
 
2020
 
2019
Equity in earnings (loss) in unconsolidated entities
$
17

 
$
(298
)
 
$
253

 
$
(573
)