Braemar Hotels & Resorts (BHR) 10-Q 11 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	7-May-15
Document and Entity Information [Abstract]
Entity Registrant Name	Ashford Hospitality Prime, Inc.
Entity Central Index Key	1574085
Document Type	10-Q
Current Fiscal Year End Date	-19
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		24,048,677

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
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

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, except Share data, unless otherwise specified
Statement of Financial Position [Abstract]
Allowance for doubtful notes receivable	$49	$47
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	25,393,433	25,393,433
Common stock, shares outstanding (in shares)	24,054,913	24,464,163
Treasury stock (in shares)	1,338,520	929,270

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenue
Rooms	$54,497	$43,971
Food and beverage	20,230	15,181
Other	3,022	2,636
Total hotel revenue	77,749	61,788
Other	40	18
Total revenue	77,789	61,806
Hotel operating expenses:
Rooms	12,978	10,954
Food and beverage	13,069	9,684
Other expenses	20,924	16,624
Management fees	3,104	2,518
Total hotel expenses	50,075	39,780
Property taxes, insurance and other	4,595	3,667
Depreciation and amortization	10,517	8,773
Advisory services fee	3,220	2,194
Transaction costs	0	1,593
Corporate general and administrative	1,123	1,024
Total expenses	69,530	57,031
Operating income	8,259	4,775
Interest income	4	4
Other income	139	0
Interest expense and amortization of loan costs	-9,583	-8,989
Write-off of loan costs and exit fees	-54	0
Unrealized gain on marketable securities	1,323	0
Unrealized loss on derivatives	-32	-15
Income (loss) before income taxes	56	-4,225
Income tax expense	-481	-226
Net loss	-425	-4,451
Loss from consolidated entities attributable to noncontrolling interest	147	405
Net loss attributable to redeemable noncontrolling interests in operating partnership	72	1,168
Net loss attributable to the Company	($206)	($2,878)
Loss per share – basic:
Net loss attributable to common stockholders	($0.01)	($0.13)
Weighted average common shares outstanding – basic	24,070	22,308
Loss per share – diluted:
Net loss attributable to common stockholders	($0.01)	($0.13)
Weighted average common shares outstanding – diluted	24,070	22,308
Dividends declared per common share	$0.05	$0.05

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (Loss) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Net loss	($425)	($4,451)
Other comprehensive loss, net of tax:
Total other comprehensive loss	0	0
Total comprehensive loss	-425	-4,451
Comprehensive loss attributable to noncontrolling interest in consolidated entities	147	405
Comprehensive loss attributable to redeemable noncontrolling interests in operating partnership	72	1,168
Comprehensive loss attributable to the Company	($206)	($2,878)

Condensed_Consolidated_Stateme2

Condensed Consolidated Statement of Equity (USD $)	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Treasury Stock	Noncontrolling Interest in Consolidated Entities	Redeemable Noncontrolling Interests in Operating Partnership
In Thousands, unless otherwise specified
Beginning balance at Dec. 31, 2014	$149,555						$149,555
Beginning balance at Dec. 31, 2014	274,443	254	391,184	-96,404	-16,130	-4,461
Beginning balance (in shares) at Dec. 31, 2014		25,393			929
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchase of treasury stock (shares)					-474
Purchase of treasury stock	-8,110				-8,110
Equity-based compensation	67		67
Equity-based compensation							402
Issuance of restricted shares/units	0		-614		614
Issuance of restricted shares/units (in shares)					34
Dividends declared - common stock	-1,203			-1,203
Distributions to noncontrolling interests	0
Distributions to redeemable noncontrolling interest							-435
Redemption/ conversion of operating partnership units	497		-27		524
Redemption/ conversion of operating partnership units (shares)					30
Redemption/ conversion of operating partnership units							-4,514
Net loss attributable to the Company	-206
Loss from consolidated entities attributable to noncontrolling interest	-147					-147
Net loss	-353
Net loss attributable to redeemable noncontrolling interests in operating partnership	-72						-72
Redemption value adjustment	2,757			2,757
Redemption value adjustment							-2,757
Ending balance at Mar. 31, 2015	142,179						142,179
Ending balance at Mar. 31, 2015	$268,098	$254	$390,610	($95,056)	($23,102)	($4,608)
Ending balance (in shares) at Mar. 31, 2015		25,393			1,339

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash Flows from Operating Activities
Net loss	($425)	($4,451)
Adjustments to reconcile net loss to net cash flows used in operating activities:
Depreciation and amortization	10,517	8,773
Equity-based compensation	469	0
Amortization of loan costs	692	371
Write-off of loan costs and exit fees	54	0
Amortization of intangibles	-53	-53
Realized and unrealized gain on marketable securities	-1,317	0
Purchases of marketable securities	-77,264	0
Sales of marketable securities	27,119	0
Unrealized loss on derivatives	32	15
Changes in operating assets and liabilities, exclusive of the effect of hotel acquisitions:
Restricted cash	1,097	920
Accounts receivable and inventories	-1,147	-2,892
Prepaid expenses and other assets	-2,132	-2,022
Accounts payable and accrued expenses	4,156	5,427
Due to/from related party, net	-201	-665
Due to/from third-party hotel managers	-660	-2,035
Due to/from Ashford Trust OP, net	-561	-7,862
Due to/from Ashford Inc.	273	0
Other liabilities	-22	-14
Net cash used in operating activities	-39,373	-4,488
Cash Flows from Investing Activities
Proceeds from property insurance	4	0
Acquisition of hotel properties, net of cash acquired	0	-169,609
Change in restricted cash related to improvements and additions to hotel properties	1,092	0
Improvements and additions to hotel properties	-4,596	-9,541
Net cash used in investing activities	-3,500	-179,150
Cash Flows from Financing Activities
Borrowings on indebtedness	70,000	80,000
Repayments of indebtedness	-70,889	-2,037
Payments of loan costs and exit fees	-1,067	-3,277
Payments for derivatives	-8	-93
Purchase of treasury shares	-8,770	0
Payments for spin-off costs	0	-1,091
Payments for dividends	-1,674	-1,245
Issuance of common stock	0	144,023
Redemption of operating partnership units	-4,017	0
Distributions to a noncontrolling interest in a consolidated entity	-2,938	0
Net cash provided by (used in) financing activities	-19,363	216,280
Net change in cash and cash equivalents	-62,236	32,642
Cash and cash equivalents at beginning of period	171,439	143,776
Cash and cash equivalents at end of period	109,203	176,418
Supplemental Cash Flow Information
Interest paid	8,466	7,764
Income taxes paid	226	403
Supplemental Disclosure of Non Cash Investing and Financing Activities
Net other assets and liabilities acquired	0	-3,615
Assumption of debt	0	69,000
Dividends declared but not paid	1,638	1,705
Capital expenditures accrued but not paid	$538	$1,261

Organization_and_Description_o

Organization and Description of Business	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business
	Ashford Hospitality Prime, Inc., together with its subsidiaries (“Ashford Prime”), is a Maryland corporation that invests primarily in high revenue per available room (“RevPAR”), luxury, upper-upscale and upscale hotels. High RevPAR, for purposes of our investment strategy, means RevPAR of at least twice the then current U.S. national average RevPAR for all hotels as determined by Smith Travel Research. Ashford Prime has elected to be taxed as a real estate investment trust (“REIT”) under the Internal Revenue Code. Ashford Prime conducts its business and owns substantially all of its assets through its operating partnership, Ashford Hospitality Prime Limited Partnership (“Ashford Prime OP”). In this report, the terms “the Company,” “we,” “us” or “our” refers to Ashford Hospitality Prime, Inc. and, as the context may require, all entities included in its financial statements.
	We became a public company on November 19, 2013 when Ashford Hospitality Trust, Inc. (“Ashford Trust”) completed the spin-off of our company through the distribution of our outstanding common stock to the Ashford Trust stockholders. As of March 31, 2015, Ashford Trust beneficially owned common units of Ashford Prime OP representing 15.2% of our company on a fully-diluted basis. We are advised by Ashford LLC, our affiliate, through an advisory agreement. Ashford LLC is a subsidiary of Ashford Inc., which was spun-off from, and remains an affiliate of, Ashford Trust. All of the hotels in our portfolio are currently asset-managed by Ashford LLC. We do not have any employees. All of the services that might be provided by employees are provided to us by Ashford LLC.
	As of March 31, 2015, Remington Lodging & Hospitality, LLC, together with its affiliates (“Remington Lodging”), which is beneficially wholly owned by Mr. Monty J. Bennett, our Chairman and Chief Executive Officer, and Mr. Archie Bennett, Jr., chairman emeritus of Ashford Trust, managed one of our ten hotel properties. Third-party management companies managed the remaining hotel properties.
	As of March 31, 2015, we own and operate ten hotels in six states and the District of Columbia. The portfolio includes eight wholly-owned hotel properties and two hotel properties that are owned through a partnership in which Ashford Prime OP has a controlling interest. These hotels represent 3,707 total rooms, or 3,472 net rooms, excluding those attributable to our partner. As a REIT, Ashford Prime needs to comply with limitations imposed by the Internal Revenue Code related to operating hotels. As of March 31, 2015, all of our ten hotel properties were leased by wholly-owned or majority-owned subsidiaries that are treated as taxable REIT subsidiaries (“TRS”) for federal income tax purposes (collectively the TRS entities are referred to as “Prime TRS”). Prime TRS then engages hotel management companies to operate the hotels under management contracts. As of March 31, 2015, eight of the ten hotel properties were leased by Ashford Prime’s wholly-owned TRS and two hotel properties majority owned through a consolidated partnership were leased to a TRS wholly-owned by such consolidated partnership. Each hotel is leased under a percentage lease that provides for each lessee to pay in each calendar month the base rent plus, in each calendar quarter, percentage rent, if any, based on hotel revenues. Lease revenue from Prime TRS is eliminated in consolidation. The hotels are operated under management contracts with Marriott International, Inc. (“Marriott”), Hilton Worldwide (“Hilton”), Accor Business and Leisure Management, LLC (“Accor”) and Remington Lodging, which are eligible independent contractors under the Internal Revenue Code.

Significant_Accounting_Policie

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies
	Basis of Presentation and Principles of Consolidation—The accompanying unaudited condensed consolidated financial statements include the accounts of Ashford Hospitality Prime, Inc., its majority-owned subsidiaries and a majority-owned consolidated entity in which it has a controlling interest. The financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) for interim financial information and with instructions to Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included.
	Ashford Prime OP is considered to be a variable interest entity (“VIE”), as defined by authoritative accounting guidance. A VIE must be consolidated by a reporting entity if the reporting entity is the primary beneficiary because it has (i) the power to direct the VIE’s activities that most significantly impact the VIE’s economic performance, (ii) an implicit financial responsibility to ensure that a VIE operates as designed, and (iii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE. All major decisions related to Ashford Prime OP that most significantly impact its economic performance, including but not limited to operating procedures with respect to business affairs and any acquisitions, dispositions, financings, restructurings or other transactions with sellers, purchasers, lenders, brokers, agents and other applicable representatives, are subject to the approval of our wholly-owned subsidiary, Ashford Prime OP General Partner LLC, its general partner. As such, we consolidate Ashford Prime OP.
	The following items affect reporting comparability of our historical consolidated financial statements:
	•	Historical seasonality patterns at some of our properties cause fluctuations in our overall operating results. Consequently, operating results for the three months ended March 31, 2015, are not necessarily indicative of the results that may be expected for the year ending December 31, 2015.
	•	On February 24, 2014, we acquired the Sofitel Chicago Water Tower and on March 1, 2014, we acquired the Pier House Resort. The results of these hotels are included in our results of operations as of their respective acquisition dates.
	Use of Estimates—The preparation of these condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
	Restricted Cash—Restricted cash includes reserves for debt service, real estate taxes and insurance, as well as excess cash flow deposits and reserves for furniture, fixtures and equipment replacements of approximately 4% to 5% of property revenue for certain hotels, as required by certain management or mortgage debt agreement restrictions and provisions. For purposes of the statements of cash flows, changes in restricted cash caused by using such funds for debt service, real estate taxes and insurance are shown as operating activities. Changes in restricted cash caused by using such funds for furniture, fixtures and equipment replacements are included in cash flows from investing activities.
	Investments in Hotel Properties—Hotel properties are generally stated at cost. For hotel properties owned through our majority-owned entities, the carrying basis attributable to the partners’ minority ownership is recorded at historical cost, net of any impairment charges, while the carrying basis attributable to our majority ownership is recorded based on the allocated purchase price of our ownership interests in the entities. All improvements and additions which extend the useful life of the hotel properties are capitalized.
	Impairment of Investments in Hotel Properties—Hotel properties are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Recoverability of the hotel is measured by comparison of the carrying amount of the hotel to the estimated future undiscounted cash flows, which take into account current market conditions and our intent with respect to holding or disposing of the hotel. If our analysis indicates that the carrying value of the hotel is not recoverable on an undiscounted cash flow basis, we recognize an impairment charge for the amount by which the property’s net book value exceeds its estimated fair value, or fair value, less cost to sell. In evaluating the impairment of hotel properties, we make many assumptions and estimates, including projected cash flows, expected holding period and expected useful life. Fair value is determined through various valuation techniques, including internally developed discounted cash flow models, comparable market transactions and third-party appraisals, where considered necessary. During the three months ended March 31, 2015 and 2014, there were no impairment charges.
	Assets Held for Sale and Discontinued Operations—We classify assets as held for sale when we have obtained a firm commitment from a buyer, and consummation of the sale is considered probable and expected within one year. The related operations of assets held for sale are reported as discontinued if the disposal is a component of an entity or group of components that represents a strategic shift that has (or will have) a major effect on our operations and cash flows.
	Marketable Securities—Marketable securities include U.S. treasury bills and publicly traded equity securities and put and call options on certain publicly traded equity securities. All of these investments are recorded at fair value. Put and call options are considered derivatives. The fair value of these investments has been determined based on the closing price as of the balance sheet date and is reported as “marketable securities” or “liabilities associated with marketable securities and other” in the condensed consolidated balance sheets. The cost of securities sold is determined by using the high cost method. Net investment income, including interest income (expense), dividends, realized gains and losses, and costs of investment, is reported as a component of “other income.” Unrealized gains and losses on these investments are reported as “unrealized gain (loss) on marketable securities” in the condensed consolidated statements of operations.
	Derivative Instruments and Hedging—Interest rate derivatives, or hedges, include interest rate caps that provide us with interest rate protection above the strike rate on the cap and result in us receiving interest payments when actual rates exceed the cap strike rate. These derivatives are subject to master netting settlement arrangements. As the derivatives are subject to master netting settlement arrangements, we report derivatives with the same counterparty net on the condensed consolidated balance sheets.
	Derivatives are recorded at fair value in accordance with the applicable authoritative accounting guidance. The changes in fair value are recognized in earnings as “unrealized loss on derivatives” in the condensed consolidated statements of operations.
	Due to/from Related Party, net—Due to/from related party, net, represents current receivables related to advances for project management services and payables resulting from transactions related to hotel management, project management and market services with a related party. These receivables and payables are generally settled within a period not exceeding one year.
	Due to/from Ashford Trust OP, net—Due to/from Ashford Trust OP, net, represents payables related to reimbursable expenses as of March 31, 2015. As of December 31, 2014, these payables also included the advisory services fee for the period when Ashford LLC was a subsidiary of Ashford Trust. These receivables and payables are generally settled within a period not exceeding one year.
	Due to Ashford Inc.—Due to Ashford Inc. represents payables related to the advisory services fee, including reimbursable expenses, for the periods following Ashford Inc.’s spin-off from Ashford Trust. These payables are generally settled within a period not exceeding one year.
	Due to/from Third-Party Hotel Managers—Due from third-party hotel managers primarily consists of amounts due from Marriott related to cash reserves held at the Marriott corporate level related to operating, capital improvements, insurance, real estate taxes, and other items. Due to third-party hotel managers primarily consists of amounts due to Marriott, Hilton and Accor related to rebilled expenses.
	Noncontrolling Interests—The redeemable noncontrolling interests in the operating partnership represent the limited partners’ proportionate share of equity in earnings/losses of Ashford Prime OP, which is an allocation of net income attributable to the common unit holders based on the weighted average ownership percentage of these limited partners’ common unit holdings throughout the period. The redeemable noncontrolling interests in Ashford Prime OP are classified in the mezzanine section of the condensed consolidated balance sheets as these redeemable operating units do not meet the requirements for equity classification prescribed by the authoritative accounting guidance because the redemption feature requires the delivery of cash or registered shares at our option. The carrying value of the noncontrolling interests in Ashford Prime OP is based on the greater of the accumulated historical cost or the redemption value.
	The noncontrolling interest in consolidated entities represents an ownership interest of 25% in two hotel properties at March 31, 2015 and December 31, 2014, and is reported in equity in the condensed consolidated balance sheets.
	Net income/loss attributable to redeemable noncontrolling interests in operating partnership and income/loss from consolidated entities attributable to noncontrolling interests in our consolidated entities are reported as deductions/additions from/to net income/loss. Comprehensive income/loss attributable to these noncontrolling interests is reported as reductions/additions from/to comprehensive income/loss.
	Revenue Recognition—Hotel revenues, including room, food, beverage, and ancillary revenues such as long-distance telephone service, laundry, parking and space rentals, are recognized when services have been rendered. Taxes collected from customers and submitted to taxing authorities are not recorded in revenue.
	Equity-Based Compensation—Stock/unit-based compensation for non-employees is accounted for at fair value based on the market price of the shares at period end in accordance with applicable authoritative accounting guidance. Subsequently, the then-current fair value of unvested equity at each period end is charged to expense on a straight-line basis over the remaining vesting period of the shares/units. Stock/unit grants to independent directors is recorded at fair value based on the market price of the shares at grant date and this amount is fully expensed as the grants of stock/units are fully vested on the date of grant.
	Income Taxes—As a REIT, we generally are not subject to federal corporate income tax on the portion of our net income/ loss that does not relate to taxable REIT subsidiaries. However, Prime TRS is treated as a taxable REIT subsidiary for federal income tax purposes. In accordance with authoritative accounting guidance, we account for income taxes related to Prime TRS using the asset and liability method under which deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective bases. In addition, the analysis utilized by us in determining our deferred tax asset valuation allowance involves considerable management judgment and assumptions.
	The entities that own the ten hotels are considered partnerships for federal income tax purposes. Partnerships are not subject to U.S. federal income taxes. The partnerships’ revenues and expenses pass through to and are taxed on the owners. The states and cities where the partnerships operate follow the U.S. federal income tax treatment, with the exception of the District of Columbia, Texas, and the city of Philadelphia. Accordingly, we provide for income taxes in these jurisdictions for the partnerships. The entities that operate the ten hotels are considered taxable corporations for U.S. federal, state, and city income tax purposes and have elected to be taxable REIT subsidiaries of Ashford Prime. The entities that operate the two hotels owned by a consolidated partnership elected to be treated as taxable REIT subsidiaries (“TRS”) of Ashford Trust in April 2007, when the partnership was acquired by AHT.
	The “Income Taxes” Topic of the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification addresses the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements. The guidance requires us to determine whether tax positions we have taken or expect to take in a tax return are more likely than not to be sustained upon examination by the appropriate taxing authority based on the technical merits of the positions. Tax positions that do not meet the more likely than not threshold would be recorded as additional tax expense in the current period. We analyze all open tax years, as defined by the statute of limitations for each jurisdiction, which includes the federal jurisdiction and various states. We classify interest and penalties related to underpayment of income taxes as income tax expense. We and our subsidiaries file income tax returns in the U.S. federal jurisdiction and various states and cities. Tax years 2011 through 2014 remain subject to potential examination by certain federal and state taxing authorities.
	Recently Adopted Accounting Standards—In April 2014, the FASB issued accounting guidance that revises the definition of discontinued operations by limiting discontinued operations reporting to disposals of components of an entity that represent strategic shifts that have (or will have) a major effect on an entity’s operations and financial results, removing the lack of continuing involvement criteria and requiring discontinued operations reporting for the disposal of an equity method investment that meets the definition of discontinued operations. The update also requires expanded disclosures for discontinued operations, including disclosure of pretax profit or loss of an individually significant component of an entity that does not qualify for discontinued operations reporting. The new accounting guidance is effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2014. We adopted this accounting guidance on January 1, 2015. The adoption of this accounting guidance could affect the presentation of our results of operations as it could require the operations of disposed hotel properties to be included in continuing operations.
	Recently Issued Accounting Standards—In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). ASU 2014-09 is a comprehensive new revenue recognition model, which requires a company to recognize revenue to depict the transfer of promised goods or services to a customer in an amount that reflects the consideration the company expects to receive in exchange for those goods or services. The update will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. ASU 2014-09 is effective for fiscal periods beginning after December 15, 2016. Early adoption is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. We are evaluating the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures. We have not yet selected a transition method.
	In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”), to provide guidance on management's responsibility to perform interim and annual assessments of an entity’s ability to continue as a going concern and to provide related disclosure requirements. ASU 2014-15 applies to all entities and is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. We do not expect the adoption of this standard will have an impact on our financial position, results of operations or cash flows.
	In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis. The ASU amends the consolidation guidance for VIEs and general partners' investments in limited partnerships and modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities. The ASU is effective for interim and annual reporting periods beginning after December 15, 2015, with early adoption permitted. We are currently evaluating the effect of the ASU on our consolidated financial statements and related disclosures.
	In April 2015, the FASB issued Accounting Standards Update (“ASU”) No. 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The new standard requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The standard is effective for annual reporting periods beginning after December 15, 2015 and interim periods within those fiscal years, with early adoption permitted. Upon adoption of the standard we will reclassify deferred financing costs, net from total assets to be shown net of debt in the liabilities section of our consolidated balance sheet. Adoption of this standard will only affect the presentation of our consolidated balance sheet.

Investment_in_Hotel_Properties

Investment in Hotel Properties, net	3 Months Ended
	Mar. 31, 2015
Property, Plant and Equipment [Abstract]
Investments in Hotel Properties, net	Investments in Hotel Properties, net
	Investments in hotel properties, net consisted of the following (in thousands):
		31-Mar-15			December 31, 2014
	Land	$	202,356		$	202,356
	Buildings and improvements	920,254			918,809
	Furniture, fixtures and equipment	57,872			56,623
	Construction in progress	2,039			1,557
	Total cost	1,182,521			1,179,345
	Accumulated depreciation	(197,568		)	(189,042		)
	Investments in hotel properties, net	$	984,953		$	990,303

Note_Receivable

Note Receivable	3 Months Ended
	Mar. 31, 2015
Receivables [Abstract]
Note Receivable	Note Receivable
	As of March 31, 2015 and December 31, 2014, we owned a note receivable of $8.1 million from the city of Philadelphia, Pennsylvania. The note bears interest at a rate of 12.85% and matures in 2018. The interest income recorded on the note receivable is offset against the interest expense recorded on the TIF loan of the same amount. See Note 5.

Indebtedness

Indebtedness	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Indebtedness	Indebtedness
	Indebtedness consisted of the following (in thousands):
	Indebtedness		Collateral	Maturity	Interest Rate	March 31, 2015		December 31, 2014
	Mortgage loan		1 hotel	Sep-15	LIBOR(1) + 4.90%	$	—	$	69,000
	Mortgage loan(3)		1 hotel	Mar-16	LIBOR(1) + 2.30%	80,000		80,000
	Secured revolving credit facility(4)		Various	Nov-16	Base Rate (2) + 1.25% to 2.75% or LIBOR(1) + 2.25% to 3.75%	—		—
	Mortgage loan(3)		1 hotel	Mar-17	LIBOR(1) + 2.25% to 2.50%	70,000		—
	Mortgage loan(5)		1 hotel	Apr-17	5.91%	33,736		33,860
	Mortgage loan		2 hotels	Apr-17	5.95%	123,661		124,111
	Mortgage loan		3 hotels	Apr-17	5.95%	251,640		252,556
	TIF loan(5) (6)		1 hotel	Jun-18	12.85%	8,098		8,098
	Mortgage loan		2 hotels	Nov-19	LIBOR(1) + 2.65%	197,206		197,605
	Total					$	764,341	$	765,230
	__________________
	(1)	LIBOR rates were 0.176% and 0.171% at March 31, 2015 and December 31, 2014, respectively.
	(2)	Base Rate, as defined in our secured revolving credit facility agreement is the greater of (i) the prime rate set by Bank of America, or (ii) federal funds rate + 0.5%.
	(3)	This loan has three one-year extension options, subject to satisfaction of certain conditions.
	(4)	Our borrowing capacity under our secured revolving credit facility is $150.0 million. We have an option, subject to lender approval, to further increase the borrowing capacity to an aggregate of $300.0 million. We may use up to $15.0 million for standby letters of credit. The secured revolving credit facility has two one-year extension options subject to advance notice, satisfaction of certain conditions and a 0.25% extension fee.
	(5)	These loans are collateralized by the same property.
	(6)	The interest expense from the TIF loan is offset against interest income recorded on the note receivable of the same amount. See Note 4.
	On March 9, 2015, we refinanced our $69.0 million mortgage loan, with an outstanding balance of $69.0 million due September 2015, with a $70.0 million mortgage loan due March 2017, with three one-year extension options, subject to the satisfaction of certain conditions. The new loan is interest only and provides for a floating interest rate of LIBOR + 2.25% to 2.5%. The mortgage loan is secured by the Pier House Resort in Key West, Florida.
	We are required to maintain certain financial ratios under our secured revolving credit facility. If we violate covenants in any debt agreement, we could be required to repay all or a portion of our indebtedness before maturity at a time when we might be unable to arrange financing for such repayment on attractive terms, if at all. Violations of certain debt covenants may result in our inability to borrow unused amounts under our line of credit, even if repayment of some or all of our borrowings is not required. The assets of certain of our subsidiaries are pledged under non-recourse indebtedness and are not available to satisfy the debts and other obligations of the consolidated group. Presently, our existing financial covenants are non-recourse and primarily relate to maintaining minimum debt coverage ratios. As of March 31, 2015, we were in compliance in all material respects with all covenants or other requirements set forth in our debt agreements as amended.

Loss_Per_Share

Loss Per Share	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Income (Loss) Per Share	Loss Per Share
	The following table reconciles the amounts used in calculating basic and diluted loss per share (in thousands, except per share amounts):
		Three Months Ended March 31,
		2015			2014
	Net loss attributable to common stockholders – Basic and diluted:
	Net loss attributable to the Company	$	(206	)	$	(2,878	)
	Less: Dividends on common stock	(1,198		)	(1,263		)
	Less: Dividends on unvested restricted shares	(5		)	(3		)
	Undistributed net loss allocated to common stockholders	(1,409		)	(4,144		)
	Add back: Dividends on common stock	1,198			1,263
	Distributed and undistributed net loss - basic and diluted	(211		)	(2,881		)
	Weighted average common shares outstanding:
	Weighted average common shares outstanding - basic	24,070			22,308
	Weighted average common shares outstanding - diluted	24,070			22,308
	Loss per share – basic:
	Net loss allocated to common stockholders per share	$	(0.01	)	$	(0.13	)
	Loss per share – diluted:
	Net loss allocated to common stockholders per share	$	(0.01	)	$	(0.13	)
	Due to their anti-dilutive effect, the computation of diluted loss per share does not reflect the adjustments for the following items (in thousands):
		Three Months Ended March 31,
		2015			2014
	Net loss allocated to common stockholders is not adjusted for:
	Income allocated to unvested restricted shares	$	5		$	3
	Loss attributable to redeemable noncontrolling interests in operating partnership	(72		)	(1,168		)
	Total	$	(67	)	$	(1,165	)
	Weighted average diluted shares are not adjusted for:
	Effect of unvested restricted shares	36			61
	Effect of assumed conversion of operating partnership units	8,516			8,776
	Total	8,552			8,837

Derivative_Instruments_and_Hed

Derivative Instruments and Hedging	3 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging	Derivative Instruments and Hedging
	Interest Rate Derivatives—We are exposed to risks arising from our business operations, economic conditions and financial markets. To manage these risks, we primarily use interest rate derivatives to hedge our debt as a way to potentially improve cash flows. The interest rate derivatives include interest rate caps, which are subject to master netting settlement arrangements. As of March 31, 2015, the maturities on these instruments range from March 2016 to March 2017. All derivatives are recorded at fair value.
	In 2015, we entered into an interest rate cap with a notional amount and strike rate of $56.0 million and 4.5%, respectively, which had an effective date of March 2015, a maturity date of March 2017 and a total cost of $8,000. The instrument was not designated as a cash flow hedge. This instrument caps the interest rate on our mortgage loan with a principal balance of $70.0 million and a maturity date of March 2017.
	In 2014, we entered into an interest rate cap with a notional amount and strike rate of $80.0 million and 1.50%, respectively, which had an effective date of February 2014, a maturity date of March 2016 and total cost of $93,000. The instrument was not designated as a cash flow hedge. This instrument caps the interest rate on our mortgage loan with a principal balance of $80.0 million and a maturity date of March 2016. In connection with the $69.0 million mortgage loan assumed in connection with the Pier House Resort acquisition, we acquired an interest rate cap with a notional amount and strike rate of $69.0 million and 1.80%, respectively, which had an effective date of September 2013, a maturity date of September 2015 and a total cost of $19,000. This interest rate cap was terminated in March 2015 when the related mortgage loan was refinanced. This instrument was not designated as a cash flow hedge.
	In 2014, we entered into an interest rate cap with a notional amount and strike rate of $148.5 million and 4.00%, respectively, which had an effective date of November 2014, a maturity date of December 2016 and a total cost of $33,000. This instrument was not designated as a cash flow hedge. This instrument caps the interest rate on our mortgage loan with a principal balance of $197.2 million and a maturity date of November 2019.
	Marketable Securities and Liabilities Associated with Marketable Securities and Other—We invest in publicly traded equity securities, including put and call options on publicly traded equity securities, which are considered derivatives. As of March 31, 2015, we had investments in these derivatives totaling $1.1 million and liabilities of $917,000. At December 31, 2014, we did not have any investments in these derivatives.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements
	Fair Value Hierarchy—Our financial instruments measured at fair value either on a recurring or a non-recurring basis are classified in a hierarchy for disclosure purposes consisting of three levels based on the observability of inputs in the market place as discussed below:
	•	Level 1: Fair value measurements that are quoted prices (unadjusted) in active markets that we have the ability to access for identical assets or liabilities. Market price data generally is obtained from exchange or dealer markets.
	•	Level 2: Fair value measurements based on inputs other than quoted prices included in Level 1, that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals.
	•	Level 3: Fair value measurements based on valuation techniques that use significant inputs that are unobservable. The circumstances for using these measurements include those in which there is little, if any, market activity for the asset or liability.
	The fair values of interest rate caps are determined using the market standard methodology of discounting the future expected cash receipts that would occur if variable interest rates rise above the strike rates of the caps. The variable interest rates used in the calculation of projected receipts on the caps are based on an expectation of future interest rates derived from observable market interest rate curves (LIBOR forward curves) and volatilities (the Level 2 inputs). We also incorporate credit valuation adjustments (the Level 3 inputs) to appropriately reflect both our own non-performance risk and the respective counterparty’s non-performance risk in the fair value measurements.
	We have determined that when a majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. However, when the valuation adjustments associated with our derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by us and our counterparties, which we consider significant (10% or more) to the overall valuation of our derivatives, the derivative valuations in their entirety are classified in Level 3 of the fair value hierarchy. Transfers of inputs between levels are determined at the end of each reporting period.
	Assets and Liabilities Measured at Fair Value on a Recurring Basis
	The following tables present our assets and liabilities measured at fair value on a recurring basis aggregated by the level within which measurements fall in the fair value hierarchy (in thousands):
			Quoted Market Prices (Level 1)				Significant Other				Total
							Observable Inputs (Level 2)
	31-Mar-15
	Assets
	Derivative assets:
	Interest rate derivatives		$	—			$	11			$	11		(1)
	Equity put options		820				—				820			(2)
	Equity call options		233				—				233			(2)
	Non-derivative assets:
	Equity - American Depositary Receipt		764				—				764			(2)
	Equity securities		44,571				—				44,571			(2)
	U.S. treasury securities		15,524				—				15,524			(2)
	Total		61,912				11				61,923
	Liabilities
	Derivative liabilities:
	Short equity put options		(310		)		—				(310		)	(3)
	Short equity call options		(607		)		—				(607		)	(3)
	Non-derivative liabilities:
	Margin account balance		(9,533		)		—				(9,533		)	(3)
	Total		(10,450		)		—				(10,450		)
	Net		$	51,462			$	11			$	51,473
			Significant Other				Total
			Observable Inputs (Level 2)
	December 31, 2014
	Assets
	Derivative assets:
	Interest rate derivatives		$	35			$	35		(1)
	__________________
	(1)	Reported as “derivative assets” in the consolidated balance sheets.
	(2)	Reported as “marketable securities” in the consolidated balance sheets.
	(3)	Reported as “liabilities associated with marketable securities and other” in the consolidated balance sheets.
	Effect of Fair Value Measured Assets and Liabilities on Consolidated Statements of Operations
	The following table summarizes the effect of fair value measured assets and liabilities on the consolidated statements of operations (in thousands):
			Gain (Loss) Recognized in Income
			Three Months Ended March 31,
			2015					2014
	Assets
	Derivative assets:
	Interest rate derivatives		$	(32	)			$	(15	)
	Equity put options		(629		)			—
	Equity call options		54					—
	Non-derivative assets:
	Equity securities		1,388					—
	U.S. treasury securities		150					—
	Total		931					(15		)
	Liabilities
	Derivative liabilities:
	Short equity put options		307					—
	Short equity call options		47					—
	Net		$	1,285				$	(15	)
	Total combined
	Interest rate derivatives		$	(32	)	(1)		$	(15	)	(1)
	Unrealized gain on marketable securities		1,323			(2)		—
	Realized loss on marketable securities		(6		)	(3)		—
	Net		$	1,285				$	(15	)
__________________
(1)	Reported as “unrealized loss on derivatives” in the consolidated statements of operations.
(2)	Reported as “unrealized gain on marketable securities” in the consolidated statements of operations.
(3)	Reported as “other income” in the consolidated statements of operations.

Summary_of_Fair_Value_of_Finan

Summary of Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2015
Investments, All Other Investments [Abstract]
Summary of Fair Value of Financial Instruments	Summary of Fair Value of Financial Instruments
	Determining the estimated fair values of certain financial instruments such as notes receivable and indebtedness requires considerable judgment to interpret market data. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. Accordingly, the estimates presented are not necessarily indicative of the amounts at which these instruments could be purchased, sold or settled.
	The carrying amounts and estimated fair values of financial instruments were as follows (in thousands):
		31-Mar-15				December 31, 2014
		Carrying		Estimated		Carrying		Estimated
		Value		Fair Value		Value		Fair Value
	Financial assets and liabilities measured at fair value:
	Marketable securities	$	61,912	$	61,912	$	—	$	—
	Derivative assets	11		11		35		35
	Liabilities associated with marketable securities and other	10,450		10,450		—		—
	Financial assets not measured at fair value:
	Cash and cash equivalents	$	109,203	$	109,203	$	171,439	$	171,439
	Restricted cash	27,457		27,457		29,646		29,646
	Accounts receivable, net	13,418		13,418		12,382		12,382
	Note receivable	8,098		$10,078 to $11,139		8,098		$10,295 to $11,378
	Due from related party, net	742		742		541		541
	Due from third-party hotel managers	6,070		6,070		5,504		5,504
	Financial liabilities not measured at fair value:
	Indebtedness	$	764,341	$741,335 to $819,373		$	765,230	$747,659 to $826,359
	Accounts payable and accrued expenses	30,250		30,250		29,273		29,273
	Dividends payable	1,389		1,389		1,425		1,425
	Due to Ashford Trust OP, net	335		335		896		896
	Due to Ashford Inc.	2,819		2,819		2,546		2,546
	Due to third-party hotel managers	860		860		954		954
	Cash, cash equivalents and restricted cash. These financial assets bear interest at market rates and have maturities of less than 90 days. The carrying values approximate fair value due to the short-term nature of these financial instruments. This is considered a Level 1 valuation technique.
	Accounts receivable, net, due from related party, net, accounts payable and accrued expenses, dividends payable, due to Ashford Trust OP, net, due to Ashford Inc. and due to/from third-party hotel managers. The carrying values of these financial instruments approximate their fair values due to the short-term nature of these financial instruments. This is considered a Level 1 valuation technique.
	Note receivable. Fair value of the note receivable was determined by using similar loans with similar collateral. Since there is very little to no trading activity, we had to rely on our internal analysis of what we believe a willing buyer would pay for this note at March 31, 2015 and December 31, 2014. We estimated the fair value of the note receivable to be approximately 24.5% to 37.6% higher than the carrying value of $8.1 million at March 31, 2015, and approximately 27.1% to 40.5% higher than the carrying value of $8.1 million at December 31, 2014. This is considered a Level 2 valuation technique.
	Marketable securities and liabilities associated with marketable securities and other. Marketable securities consist of U.S. treasury bills, publicly traded equity securities and equity put and call options on certain publicly traded equity securities. Liabilities associated with marketable securities consists of a margin account balance and short equity put and call options. The fair value of these investments is based on quoted market closing prices at the balance sheet dates. This is considered a Level 1 valuation technique. See Notes 2, 7 and 8 for a complete description of the methodology and assumptions utilized in determining fair values.
	Derivative assets. Fair value of the interest rate derivatives are determined using the net present value of the expected cash flows of each derivative based on the market-based interest rate curve and adjusted for credit spreads of the Company and the counterparties. See Notes 2, 7 and 8 for a complete description of the methodology and assumptions utilized in determining fair values.
	Indebtedness. Fair value of indebtedness is determined using future cash flows discounted at current replacement rates for these instruments. Cash flows are determined using a forward interest rate yield curve. The current replacement rates are determined by using the U.S. Treasury yield curve or the index to which these financial instruments are tied, and adjusted for the credit spreads. Credit spreads take into consideration general market conditions, maturity and collateral. We estimated the fair value of the total indebtedness to be approximately 97.0% to 107.2% of the carrying value of $764.3 million at March 31, 2015, and approximately 97.7% to 108.0% of the carrying value of $765.2 million at December 31, 2014. This is considered a Level 2 valuation technique.

Redeemable_Noncontrolling_Inte

Redeemable Noncontrolling Interests in Operating Partnership	3 Months Ended
	Mar. 31, 2015
Redeemable Noncontrolling Interest, Equity, Carrying Amount [Abstract]
Redeemable Noncontrolling Interests in Operating Partnership	Redeemable Noncontrolling Interests in Operating Partnership
	Redeemable noncontrolling interests in the operating partnership represents the limited partners’ proportionate share of equity and their allocable share of equity in earnings/losses of Ashford Prime OP, which is an allocation of net income/loss attributable to the common unit holders based on the weighted average ownership percentage of these limited partners’ common units of limited partnership interest in the operating partnership (“common units”) and units issued under our Long-Term Incentive Plan (the “LTIP units”) that are vested. Beginning one year after issuance, each common unit may be redeemed, by the holder, for either cash or, at our sole discretion, one share of our common stock.
	LTIP units, which are issued to certain officers and employees of Ashford LLC as compensation, have vesting periods of three years. Additionally, certain independent members of the Board of Directors have elected to receive LTIP units as part of their compensation, which are fully vested upon grant. Upon reaching economic parity with common units, each vested LTIP unit can be converted by the holder into one common unit which can then be redeemed for cash or, at our election, settled in our common stock. An LTIP unit will achieve parity with the common units upon the sale or deemed sale of all or substantially all of the assets of the operating partnership at a time when our stock is trading at a level in excess of the price it was trading on the date of the LTIP issuance. More specifically, LTIP units will achieve full economic parity with common units in connection with (i) the actual sale of all or substantially all of the assets of the operating partnership or (ii) the hypothetical sale of such assets, which results from a capital account revaluation, as defined in the partnership agreement, for the operating partnership.
	As of March 31, 2015, we have issued a total of 358,000 LTIP units, all of which, other than 3,200 units issued in March 2015, had reached full economic parity with, and are convertible into common units. Expense of $402,000 was recognized for the three months ended March 31, 2015, all of which was associated with LTIP units issued to Ashford LLC’s employees and is included in “advisory services fee” in our consolidated statements of operations for the three months ended March 31, 2015. No expense associated with the issuance of LTIP units was recognized during the three months ended March 31, 2014. The fair value of the unamortized LTIP units, which was $5.3 million at March 31, 2015, will be amortized over a period of 3.0 years.
	During the three months ended March 31, 2015, approximately 232,000 common units with an aggregate fair value of $4.0 million at redemption were redeemed for cash at an average price of $17.33. Additionally, 30,000 common units with an aggregate fair value of $515,000 at redemption were converted to shares of our common stock. During the three months ended March 31, 2014, no common units were presented for redemption or converted to shares of our common stock.
	Redeemable noncontrolling interests in Ashford Prime OP as of March 31, 2015 and December 31, 2014, were $142.2 million and $149.6 million, respectively, which represented ownership of our operating partnership of 25.86% and 25.88%, respectively. The carrying value of redeemable noncontrolling interests as of March 31, 2015 and December 31, 2014, included adjustments of $43.3 million and $47.3 million, respectively, to reflect the excess of redemption value over the accumulated historical costs. For the three months ended March 31, 2015, we allocated net losses of $72,000 to the redeemable noncontrolling interests. For the three months ended March 31, 2014, we allocated net losses of $1.2 million to the redeemable noncontrolling interests. We declared aggregate cash distributions to holders of common units and holders of LTIP units $435,000 and $439,000 for the three months ended March 31, 2015 and 2014, respectively. These distributions are recorded as a reduction of redeemable noncontrolling interests in operating partnership.

Equity_and_StockBased_Compensa

Equity and Stock-Based Compensation	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Equity and Stock-Based Compensation	Equity and Stock-Based Compensation
	Dividends—Common stock dividends declared for the three months ended March 31, 2015 and 2014, were $1.2 million and $1.3 million, respectively.
	Stock-Based Compensation—Stock-based compensation expense for the three months ended March 31, 2015, was $67,000, which is associated with restricted shares of our common stock issued to Ashford LLC’s employees and included in “advisory services fee”. There was no stock-based compensation expense for the three months ended March 31, 2014.
	Stock Repurchases—On October 27, 2014, our Board of Directors approved a share repurchase program under which the Company may purchase up to $100 million of the Company’s common stock from time to time. The repurchase program does not have an expiration date. The specific timing, manner, price, amount and other terms of the repurchases are at management’s discretion and depend on market conditions, corporate and regulatory requirements and other factors. The Company is not required to repurchase shares under the repurchase program, and may modify, suspend or terminate the repurchase program at any time for any reason. Under the repurchase program, we repurchased 471,064 shares of our common stock for approximately $8.1 million during the three months ended March 31, 2015. As of March 31, 2015, we have purchased a cumulative 1.4 million shares of our common stock, for approximately $24.2 million, since the program’s inception on November 4, 2014.
	Noncontrolling Interest in Consolidated Entities—A partner had a noncontrolling ownership interest of 25% in two hotel properties with a total carrying value of $(4.6) million and $(4.5) million at March 31, 2015 and December 31, 2014, respectively. Loss from consolidated entities attributable to this noncontrolling interest was $147,000 for the three months ended March 31, 2015. Loss from consolidated entities attributable to this noncontrolling interest was $405,000 for the three months ended March 31, 2014.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies
	Restricted Cash—Under certain management and debt agreements for our hotel properties existing at March 31, 2015, escrow payments are required for insurance, real estate taxes, and debt service. In addition, for certain properties based on the terms of the underlying debt and management agreements, we escrow 4% to 5% of gross revenues for capital improvements.
	Management Fees—Under management agreements for our hotel properties existing at March 31, 2015, we pay a) monthly property management fees equal to the greater of $10,000 (CPI adjusted since 2003) or 3% of gross revenues, or in some cases 3% to 7% of gross revenues, as well as annual incentive management fees, if applicable, b) market service fees on approved capital improvements, including project management fees of up to 4% of project costs, for certain hotels, and c) other general fees at current market rates as approved by our independent directors, if required. These management agreements expire from May 14, 2023, through December 31, 2041, with renewal options. If we terminate a management agreement prior to its expiration, we may be liable for estimated management fees through the remaining term, liquidated damages or, in certain circumstances, we may substitute a new management agreement.
	Litigation—The Company is engaged in various legal proceedings which have arisen but have not been fully adjudicated. The likelihood of loss for these legal proceedings, based on definitions within the contingency accounting literature, ranges from remote to reasonably possible and to probable. Based on estimates of the range of potential losses associated with these matters, management does not believe the ultimate resolution of these proceedings, either individually or in the aggregate, will have a material adverse effect upon the consolidated financial position or results of operations of the Company. However, the final results of these legal proceedings cannot be predicted with certainty and if the Company failed to prevail in one or more of these legal matters, and the associated realized losses were to exceed the Company’s current estimates of the range of potential losses, the Company’s consolidated financial position or results of operations could be materially adversely affected in future periods.

Segment_Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting
	We operate in one business segment within the hotel lodging industry: direct hotel investments. Direct hotel investments refer to owning hotels through either acquisition or new development. We report operating results of direct hotel investments on an aggregate basis as substantially all of our hotel investments have similar economic characteristics and exhibit similar long-term financial performance. As of March 31, 2015 and December 31, 2014, all of our hotel properties were domestically located.

Significant_Accounting_Policie1

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation—The accompanying unaudited condensed consolidated financial statements include the accounts of Ashford Hospitality Prime, Inc., its majority-owned subsidiaries and a majority-owned consolidated entity in which it has a controlling interest. The financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) for interim financial information and with instructions to Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included.
	Ashford Prime OP is considered to be a variable interest entity (“VIE”), as defined by authoritative accounting guidance. A VIE must be consolidated by a reporting entity if the reporting entity is the primary beneficiary because it has (i) the power to direct the VIE’s activities that most significantly impact the VIE’s economic performance, (ii) an implicit financial responsibility to ensure that a VIE operates as designed, and (iii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE. All major decisions related to Ashford Prime OP that most significantly impact its economic performance, including but not limited to operating procedures with respect to business affairs and any acquisitions, dispositions, financings, restructurings or other transactions with sellers, purchasers, lenders, brokers, agents and other applicable representatives, are subject to the approval of our wholly-owned subsidiary, Ashford Prime OP General Partner LLC, its general partner. As such, we consolidate Ashford Prime OP.
	The following items affect reporting comparability of our historical consolidated financial statements:
	•	Historical seasonality patterns at some of our properties cause fluctuations in our overall operating results. Consequently, operating results for the three months ended March 31, 2015, are not necessarily indicative of the results that may be expected for the year ending December 31, 2015.
	•	On February 24, 2014, we acquired the Sofitel Chicago Water Tower and on March 1, 2014, we acquired the Pier House Resort. The results of these hotels are included in our results of operations as of their respective acquisition dates.
Use of Estimates	Use of Estimates—The preparation of these condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Restricted Cash	Restricted Cash—Restricted cash includes reserves for debt service, real estate taxes and insurance, as well as excess cash flow deposits and reserves for furniture, fixtures and equipment replacements of approximately 4% to 5% of property revenue for certain hotels, as required by certain management or mortgage debt agreement restrictions and provisions. For purposes of the statements of cash flows, changes in restricted cash caused by using such funds for debt service, real estate taxes and insurance are shown as operating activities. Changes in restricted cash caused by using such funds for furniture, fixtures and equipment replacements are included in cash flows from investing activities.
Investments in Hotel Properties	Investments in Hotel Properties—Hotel properties are generally stated at cost. For hotel properties owned through our majority-owned entities, the carrying basis attributable to the partners’ minority ownership is recorded at historical cost, net of any impairment charges, while the carrying basis attributable to our majority ownership is recorded based on the allocated purchase price of our ownership interests in the entities. All improvements and additions which extend the useful life of the hotel properties are capitalized.
Impairment of Investment in Hotel Properties	Impairment of Investments in Hotel Properties—Hotel properties are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Recoverability of the hotel is measured by comparison of the carrying amount of the hotel to the estimated future undiscounted cash flows, which take into account current market conditions and our intent with respect to holding or disposing of the hotel. If our analysis indicates that the carrying value of the hotel is not recoverable on an undiscounted cash flow basis, we recognize an impairment charge for the amount by which the property’s net book value exceeds its estimated fair value, or fair value, less cost to sell. In evaluating the impairment of hotel properties, we make many assumptions and estimates, including projected cash flows, expected holding period and expected useful life. Fair value is determined through various valuation techniques, including internally developed discounted cash flow models, comparable market transactions and third-party appraisals, where considered necessary. During the three months ended March 31, 2015 and 2014, there were no impairment charges.
Assets Held for Sale and Discontinued Operations	Assets Held for Sale and Discontinued Operations—We classify assets as held for sale when we have obtained a firm commitment from a buyer, and consummation of the sale is considered probable and expected within one year. The related operations of assets held for sale are reported as discontinued if the disposal is a component of an entity or group of components that represents a strategic shift that has (or will have) a major effect on our operations and cash flows.
Marketable Securities	Marketable Securities—Marketable securities include U.S. treasury bills and publicly traded equity securities and put and call options on certain publicly traded equity securities. All of these investments are recorded at fair value. Put and call options are considered derivatives. The fair value of these investments has been determined based on the closing price as of the balance sheet date and is reported as “marketable securities” or “liabilities associated with marketable securities and other” in the condensed consolidated balance sheets. The cost of securities sold is determined by using the high cost method. Net investment income, including interest income (expense), dividends, realized gains and losses, and costs of investment, is reported as a component of “other income.” Unrealized gains and losses on these investments are reported as “unrealized gain (loss) on marketable securities” in the condensed consolidated statements of operations.
Derivative Instruments and Hedging	Derivative Instruments and Hedging—Interest rate derivatives, or hedges, include interest rate caps that provide us with interest rate protection above the strike rate on the cap and result in us receiving interest payments when actual rates exceed the cap strike rate. These derivatives are subject to master netting settlement arrangements. As the derivatives are subject to master netting settlement arrangements, we report derivatives with the same counterparty net on the condensed consolidated balance sheets.
	Derivatives are recorded at fair value in accordance with the applicable authoritative accounting guidance. The changes in fair value are recognized in earnings as “unrealized loss on derivatives” in the condensed consolidated statements of operations.
Due to/from Related Party, net	Due to/from Related Party, net—Due to/from related party, net, represents current receivables related to advances for project management services and payables resulting from transactions related to hotel management, project management and market services with a related party. These receivables and payables are generally settled within a period not exceeding one year.
Due to/from Ashford Trust OP, net	Due to/from Ashford Trust OP, net—Due to/from Ashford Trust OP, net, represents payables related to reimbursable expenses as of March 31, 2015. As of December 31, 2014, these payables also included the advisory services fee for the period when Ashford LLC was a subsidiary of Ashford Trust. These receivables and payables are generally settled within a period not exceeding one year.
Due To / From Ashford Inc.	Due to Ashford Inc.—Due to Ashford Inc. represents payables related to the advisory services fee, including reimbursable expenses, for the periods following Ashford Inc.’s spin-off from Ashford Trust. These payables are generally settled within a period not exceeding one year.
Due to/from Third-Party Hotel Managers	Due to/from Third-Party Hotel Managers—Due from third-party hotel managers primarily consists of amounts due from Marriott related to cash reserves held at the Marriott corporate level related to operating, capital improvements, insurance, real estate taxes, and other items. Due to third-party hotel managers primarily consists of amounts due to Marriott, Hilton and Accor related to rebilled expenses.
Noncontrolling Interests	Noncontrolling Interests—The redeemable noncontrolling interests in the operating partnership represent the limited partners’ proportionate share of equity in earnings/losses of Ashford Prime OP, which is an allocation of net income attributable to the common unit holders based on the weighted average ownership percentage of these limited partners’ common unit holdings throughout the period. The redeemable noncontrolling interests in Ashford Prime OP are classified in the mezzanine section of the condensed consolidated balance sheets as these redeemable operating units do not meet the requirements for equity classification prescribed by the authoritative accounting guidance because the redemption feature requires the delivery of cash or registered shares at our option. The carrying value of the noncontrolling interests in Ashford Prime OP is based on the greater of the accumulated historical cost or the redemption value.
	The noncontrolling interest in consolidated entities represents an ownership interest of 25% in two hotel properties at March 31, 2015 and December 31, 2014, and is reported in equity in the condensed consolidated balance sheets.
	Net income/loss attributable to redeemable noncontrolling interests in operating partnership and income/loss from consolidated entities attributable to noncontrolling interests in our consolidated entities are reported as deductions/additions from/to net income/loss. Comprehensive income/loss attributable to these noncontrolling interests is reported as reductions/additions from/to comprehensive income/loss.
Revenue Recognition	Revenue Recognition—Hotel revenues, including room, food, beverage, and ancillary revenues such as long-distance telephone service, laundry, parking and space rentals, are recognized when services have been rendered. Taxes collected from customers and submitted to taxing authorities are not recorded in revenue.
Equity-Based Compensation	Equity-Based Compensation—Stock/unit-based compensation for non-employees is accounted for at fair value based on the market price of the shares at period end in accordance with applicable authoritative accounting guidance. Subsequently, the then-current fair value of unvested equity at each period end is charged to expense on a straight-line basis over the remaining vesting period of the shares/units. Stock/unit grants to independent directors is recorded at fair value based on the market price of the shares at grant date and this amount is fully expensed as the grants of stock/units are fully vested on the date of grant.
Income Taxes	Income Taxes—As a REIT, we generally are not subject to federal corporate income tax on the portion of our net income/ loss that does not relate to taxable REIT subsidiaries. However, Prime TRS is treated as a taxable REIT subsidiary for federal income tax purposes. In accordance with authoritative accounting guidance, we account for income taxes related to Prime TRS using the asset and liability method under which deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective bases. In addition, the analysis utilized by us in determining our deferred tax asset valuation allowance involves considerable management judgment and assumptions.
	The entities that own the ten hotels are considered partnerships for federal income tax purposes. Partnerships are not subject to U.S. federal income taxes. The partnerships’ revenues and expenses pass through to and are taxed on the owners. The states and cities where the partnerships operate follow the U.S. federal income tax treatment, with the exception of the District of Columbia, Texas, and the city of Philadelphia. Accordingly, we provide for income taxes in these jurisdictions for the partnerships. The entities that operate the ten hotels are considered taxable corporations for U.S. federal, state, and city income tax purposes and have elected to be taxable REIT subsidiaries of Ashford Prime. The entities that operate the two hotels owned by a consolidated partnership elected to be treated as taxable REIT subsidiaries (“TRS”) of Ashford Trust in April 2007, when the partnership was acquired by AHT.
	The “Income Taxes” Topic of the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification addresses the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements. The guidance requires us to determine whether tax positions we have taken or expect to take in a tax return are more likely than not to be sustained upon examination by the appropriate taxing authority based on the technical merits of the positions. Tax positions that do not meet the more likely than not threshold would be recorded as additional tax expense in the current period. We analyze all open tax years, as defined by the statute of limitations for each jurisdiction, which includes the federal jurisdiction and various states. We classify interest and penalties related to underpayment of income taxes as income tax expense. We and our subsidiaries file income tax returns in the U.S. federal jurisdiction and various states and cities. Tax years 2011 through 2014 remain subject to potential examination by certain federal and state taxing authorities.
Recently Adopted Provisions of U.S. GAAP	Recently Adopted Accounting Standards—In April 2014, the FASB issued accounting guidance that revises the definition of discontinued operations by limiting discontinued operations reporting to disposals of components of an entity that represent strategic shifts that have (or will have) a major effect on an entity’s operations and financial results, removing the lack of continuing involvement criteria and requiring discontinued operations reporting for the disposal of an equity method investment that meets the definition of discontinued operations. The update also requires expanded disclosures for discontinued operations, including disclosure of pretax profit or loss of an individually significant component of an entity that does not qualify for discontinued operations reporting. The new accounting guidance is effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2014. We adopted this accounting guidance on January 1, 2015. The adoption of this accounting guidance could affect the presentation of our results of operations as it could require the operations of disposed hotel properties to be included in continuing operations.
Recently Issued Accounting Standards	Recently Issued Accounting Standards—In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). ASU 2014-09 is a comprehensive new revenue recognition model, which requires a company to recognize revenue to depict the transfer of promised goods or services to a customer in an amount that reflects the consideration the company expects to receive in exchange for those goods or services. The update will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. ASU 2014-09 is effective for fiscal periods beginning after December 15, 2016. Early adoption is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. We are evaluating the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures. We have not yet selected a transition method.
	In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”), to provide guidance on management's responsibility to perform interim and annual assessments of an entity’s ability to continue as a going concern and to provide related disclosure requirements. ASU 2014-15 applies to all entities and is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. We do not expect the adoption of this standard will have an impact on our financial position, results of operations or cash flows.
	In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis. The ASU amends the consolidation guidance for VIEs and general partners' investments in limited partnerships and modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities. The ASU is effective for interim and annual reporting periods beginning after December 15, 2015, with early adoption permitted. We are currently evaluating the effect of the ASU on our consolidated financial statements and related disclosures.
	In April 2015, the FASB issued Accounting Standards Update (“ASU”) No. 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The new standard requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The standard is effective for annual reporting periods beginning after December 15, 2015 and interim periods within those fiscal years, with early adoption permitted. Upon adoption of the standard we will reclassify deferred financing costs, net from total assets to be shown net of debt in the liabilities section of our consolidated balance sheet. Adoption of this standard will only affect the presentation of our consolidated balance sheet.

Investment_in_Hotel_Properties1

Investment in Hotel Properties, net (Tables)	3 Months Ended
	Mar. 31, 2015
Property, Plant and Equipment [Abstract]
Schedule of Investment in Hotel Properties	Investments in hotel properties, net consisted of the following (in thousands):
		31-Mar-15			December 31, 2014
	Land	$	202,356		$	202,356
	Buildings and improvements	920,254			918,809
	Furniture, fixtures and equipment	57,872			56,623
	Construction in progress	2,039			1,557
	Total cost	1,182,521			1,179,345
	Accumulated depreciation	(197,568		)	(189,042		)
	Investments in hotel properties, net	$	984,953		$	990,303

Indebtedness_Tables

Indebtedness (Tables)	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Indebtedness	Indebtedness consisted of the following (in thousands):
	Indebtedness		Collateral	Maturity	Interest Rate	March 31, 2015		December 31, 2014
	Mortgage loan		1 hotel	Sep-15	LIBOR(1) + 4.90%	$	—	$	69,000
	Mortgage loan(3)		1 hotel	Mar-16	LIBOR(1) + 2.30%	80,000		80,000
	Secured revolving credit facility(4)		Various	Nov-16	Base Rate (2) + 1.25% to 2.75% or LIBOR(1) + 2.25% to 3.75%	—		—
	Mortgage loan(3)		1 hotel	Mar-17	LIBOR(1) + 2.25% to 2.50%	70,000		—
	Mortgage loan(5)		1 hotel	Apr-17	5.91%	33,736		33,860
	Mortgage loan		2 hotels	Apr-17	5.95%	123,661		124,111
	Mortgage loan		3 hotels	Apr-17	5.95%	251,640		252,556
	TIF loan(5) (6)		1 hotel	Jun-18	12.85%	8,098		8,098
	Mortgage loan		2 hotels	Nov-19	LIBOR(1) + 2.65%	197,206		197,605
	Total					$	764,341	$	765,230
	__________________
	(1)	LIBOR rates were 0.176% and 0.171% at March 31, 2015 and December 31, 2014, respectively.
	(2)	Base Rate, as defined in our secured revolving credit facility agreement is the greater of (i) the prime rate set by Bank of America, or (ii) federal funds rate + 0.5%.
	(3)	This loan has three one-year extension options, subject to satisfaction of certain conditions.
	(4)	Our borrowing capacity under our secured revolving credit facility is $150.0 million. We have an option, subject to lender approval, to further increase the borrowing capacity to an aggregate of $300.0 million. We may use up to $15.0 million for standby letters of credit. The secured revolving credit facility has two one-year extension options subject to advance notice, satisfaction of certain conditions and a 0.25% extension fee.
	(5)	These loans are collateralized by the same property.
	(6)	The interest expense from the TIF loan is offset against interest income recorded on the note receivable of the same amount. See Note 4.

Loss_Per_Share_Tables

Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Summary of amounts used in calculating basic and diluted earnings (loss) per share	The following table reconciles the amounts used in calculating basic and diluted loss per share (in thousands, except per share amounts):
		Three Months Ended March 31,
		2015			2014
	Net loss attributable to common stockholders – Basic and diluted:
	Net loss attributable to the Company	$	(206	)	$	(2,878	)
	Less: Dividends on common stock	(1,198		)	(1,263		)
	Less: Dividends on unvested restricted shares	(5		)	(3		)
	Undistributed net loss allocated to common stockholders	(1,409		)	(4,144		)
	Add back: Dividends on common stock	1,198			1,263
	Distributed and undistributed net loss - basic and diluted	(211		)	(2,881		)
	Weighted average common shares outstanding:
	Weighted average common shares outstanding - basic	24,070			22,308
	Weighted average common shares outstanding - diluted	24,070			22,308
	Loss per share – basic:
	Net loss allocated to common stockholders per share	$	(0.01	)	$	(0.13	)
	Loss per share – diluted:
	Net loss allocated to common stockholders per share	$	(0.01	)	$	(0.13	)
Summary of computation of diluted income per share	Due to their anti-dilutive effect, the computation of diluted loss per share does not reflect the adjustments for the following items (in thousands):
		Three Months Ended March 31,
		2015			2014
	Net loss allocated to common stockholders is not adjusted for:
	Income allocated to unvested restricted shares	$	5		$	3
	Loss attributable to redeemable noncontrolling interests in operating partnership	(72		)	(1,168		)
	Total	$	(67	)	$	(1,165	)
	Weighted average diluted shares are not adjusted for:
	Effect of unvested restricted shares	36			61
	Effect of assumed conversion of operating partnership units	8,516			8,776
	Total	8,552			8,837

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following tables present our assets and liabilities measured at fair value on a recurring basis aggregated by the level within which measurements fall in the fair value hierarchy (in thousands):
			Quoted Market Prices (Level 1)				Significant Other				Total
							Observable Inputs (Level 2)
	31-Mar-15
	Assets
	Derivative assets:
	Interest rate derivatives		$	—			$	11			$	11		(1)
	Equity put options		820				—				820			(2)
	Equity call options		233				—				233			(2)
	Non-derivative assets:
	Equity - American Depositary Receipt		764				—				764			(2)
	Equity securities		44,571				—				44,571			(2)
	U.S. treasury securities		15,524				—				15,524			(2)
	Total		61,912				11				61,923
	Liabilities
	Derivative liabilities:
	Short equity put options		(310		)		—				(310		)	(3)
	Short equity call options		(607		)		—				(607		)	(3)
	Non-derivative liabilities:
	Margin account balance		(9,533		)		—				(9,533		)	(3)
	Total		(10,450		)		—				(10,450		)
	Net		$	51,462			$	11			$	51,473
			Significant Other				Total
			Observable Inputs (Level 2)
	December 31, 2014
	Assets
	Derivative assets:
	Interest rate derivatives		$	35			$	35		(1)
	__________________
	(1)	Reported as “derivative assets” in the consolidated balance sheets.
	(2)	Reported as “marketable securities” in the consolidated balance sheets.
	(3)	Reported as “liabilities associated with marketable securities and other” in the consolidated balance sheets.
Effect of Fair Value Measured Assets and Liabilities on Consolidated Statements of Operations	The following table summarizes the effect of fair value measured assets and liabilities on the consolidated statements of operations (in thousands):
			Gain (Loss) Recognized in Income
			Three Months Ended March 31,
			2015					2014
	Assets
	Derivative assets:
	Interest rate derivatives		$	(32	)			$	(15	)
	Equity put options		(629		)			—
	Equity call options		54					—
	Non-derivative assets:
	Equity securities		1,388					—
	U.S. treasury securities		150					—
	Total		931					(15		)
	Liabilities
	Derivative liabilities:
	Short equity put options		307					—
	Short equity call options		47					—
	Net		$	1,285				$	(15	)
	Total combined
	Interest rate derivatives		$	(32	)	(1)		$	(15	)	(1)
	Unrealized gain on marketable securities		1,323			(2)		—
	Realized loss on marketable securities		(6		)	(3)		—
	Net		$	1,285				$	(15	)
	__________________
	(1)	Reported as “unrealized loss on derivatives” in the consolidated statements of operations.
	(2)	Reported as “unrealized gain on marketable securities” in the consolidated statements of operations.
	(3)	Reported as “other income” in the consolidated statements of operations.

Summary_of_Fair_Value_of_Finan1

Summary of Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2015
Investments, All Other Investments [Abstract]
Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments	The carrying amounts and estimated fair values of financial instruments were as follows (in thousands):
		31-Mar-15				December 31, 2014
		Carrying		Estimated		Carrying		Estimated
		Value		Fair Value		Value		Fair Value
	Financial assets and liabilities measured at fair value:
	Marketable securities	$	61,912	$	61,912	$	—	$	—
	Derivative assets	11		11		35		35
	Liabilities associated with marketable securities and other	10,450		10,450		—		—
	Financial assets not measured at fair value:
	Cash and cash equivalents	$	109,203	$	109,203	$	171,439	$	171,439
	Restricted cash	27,457		27,457		29,646		29,646
	Accounts receivable, net	13,418		13,418		12,382		12,382
	Note receivable	8,098		$10,078 to $11,139		8,098		$10,295 to $11,378
	Due from related party, net	742		742		541		541
	Due from third-party hotel managers	6,070		6,070		5,504		5,504
	Financial liabilities not measured at fair value:
	Indebtedness	$	764,341	$741,335 to $819,373		$	765,230	$747,659 to $826,359
	Accounts payable and accrued expenses	30,250		30,250		29,273		29,273
	Dividends payable	1,389		1,389		1,425		1,425
	Due to Ashford Trust OP, net	335		335		896		896
	Due to Ashford Inc.	2,819		2,819		2,546		2,546
	Due to third-party hotel managers	860		860		954		954

Organization_and_Description_o1

Organization and Description of Business (Details)	Mar. 31, 2015	Dec. 31, 2014
	hotel	hotel
Organization and Description of Business [Line Items]
Number of hotel properties managed by related party	1
Number of hotel properties owned	10
Number of states in which entity operates	6
Number of rooms owned	3,707
Number of rooms owned, net of partnership interest	3,472
Wholly Owned Properties [Member]
Organization and Description of Business [Line Items]
Number of hotel properties owned	8
Majority Owned Properties [Member]
Organization and Description of Business [Line Items]
Number of hotel properties owned	2	2
Ashford Hospitality Trust, Inc. [Member]
Organization and Description of Business [Line Items]
Fully diluted beneficial ownership in operating partnership	15.20%

Significant_Accounting_Policie2

Significant Accounting Policies (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
	hotel
Significant Accounting Policies [Line Items]
Impairment charge	$0	$0
Noncontrolling interest in a consolidated entity	25.00%		25.00%
Number of hotel properties owned	10
Majority Owned Properties [Member]
Significant Accounting Policies [Line Items]
Number of hotel properties owned	2		2
Wholly Owned Properties [Member]
Significant Accounting Policies [Line Items]
Number of hotel properties owned	8
Partnership [Member]
Significant Accounting Policies [Line Items]
Number of hotel properties owned	10
Restricted Cash [Member] | Minimum [Member]
Significant Accounting Policies [Line Items]
Replacement reserve escrow as percentage of property revenue	4.00%
Restricted Cash [Member] | Maximum [Member]
Significant Accounting Policies [Line Items]
Replacement reserve escrow as percentage of property revenue	5.00%

Investment_in_Hotel_Properties2

Investment in Hotel Properties, net (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Property, Plant and Equipment [Abstract]
Land	$202,356	$202,356
Buildings and improvements	920,254	918,809
Furniture, fixtures and equipment	57,872	56,623
Construction in progress	2,039	1,557
Total cost	1,182,521	1,179,345
Accumulated depreciation	-197,568	-189,042
Investments in hotel properties, net	$984,953	$990,303

Note_Receivable_Details

Note Receivable (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable	$8,098	$8,098
Philadelphia Note [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable	$8,100	$8,100
Interest rate	12.85%	12.85%

Indebtedness_Details

Indebtedness (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Indebtedness		764,341,000	$765,230,000
Mortgage Loan 1 [Member]
Debt Instrument [Line Items]
Collateral (in hotels)			1
Mortgage Loan 1 [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	4.90%
Mortgage loan 2 [Member]
Debt Instrument [Line Items]
Collateral (in hotels)		1	1
Mortgage loan 2 [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.30%	2.30%
Senior Credit Facility [Member] | Minimum [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%	2.25%
Senior Credit Facility [Member] | Minimum [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%	1.25%
Senior Credit Facility [Member] | Maximum [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	3.75%	3.75%
Senior Credit Facility [Member] | Maximum [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.75%	2.75%
Mortgage loan 3 [Member]
Debt Instrument [Line Items]
Collateral (in hotels)		1
Mortgage loan 3 [Member] | Minimum [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		2.25%
Mortgage loan 3 [Member] | Maximum [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		2.50%
Mortgage loan 4 [Member]
Debt Instrument [Line Items]
Collateral (in hotels)		1	1
Mortgage loan 4 [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate		5.91%	5.91%
Mortgage loan 5 [Member]
Debt Instrument [Line Items]
Collateral (in hotels)		2	2
Mortgage loan 5 [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate		5.95%	5.95%
Mortgage Loan 6 [Member]
Debt Instrument [Line Items]
Collateral (in hotels)		3	3
Mortgage Loan 6 [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate		5.95%	5.95%
TIF Loan [Member]
Debt Instrument [Line Items]
Collateral (in hotels)		1	1
TIF Loan [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate		12.85%	12.85%
Mortgage Loan 7 [Member]
Debt Instrument [Line Items]
Collateral (in hotels)		2	2
Mortgage Loan 7 [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.65%	2.65%
Mortgages [Member]
Debt Instrument [Line Items]
LIBOR rate		0.18%	0.17%
Mortgages [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
Mortgages [Member] | Mortgage Loan 1 [Member]
Debt Instrument [Line Items]
Indebtedness		0	69,000,000
Mortgages [Member] | Mortgage loan 2 [Member]
Debt Instrument [Line Items]
Indebtedness		80,000,000	80,000,000
Number of extension options		3
Term of extension options		1 year
Mortgages [Member] | Mortgage loan 3 [Member]
Debt Instrument [Line Items]
Indebtedness		70,000,000	0
Number of extension options		3
Term of extension options		1 year
Mortgages [Member] | Mortgage loan 4 [Member]
Debt Instrument [Line Items]
Indebtedness		33,736,000	33,860,000
Mortgages [Member] | Mortgage loan 5 [Member]
Debt Instrument [Line Items]
Indebtedness		123,661,000	124,111,000
Mortgages [Member] | Mortgage Loan 6 [Member]
Debt Instrument [Line Items]
Indebtedness		251,640,000	252,556,000
Mortgages [Member] | TIF Loan [Member]
Debt Instrument [Line Items]
Indebtedness		8,098,000	8,098,000
Mortgages [Member] | Mortgage Loan 7 [Member]
Debt Instrument [Line Items]
Indebtedness		197,206,000	197,605,000
Line of Credit [Member] | Senior Credit Facility [Member]
Debt Instrument [Line Items]
Indebtedness		0	0
Number of extension options		2
Term of extension options		1 year
Extension fee		0.25%
Borrowing capacity		150,000,000
Further possible expansion		300,000,000
Line of Credit [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Borrowing capacity		15,000,000

Loss_Per_Share_Details

Loss Per Share (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Net loss attributable to common stockholders – Basic and diluted:
Net loss attributable to the Company	($206)	($2,878)
Undistributed net loss allocated to common stockholders	-1,409	-4,144
Distributed and undistributed net loss - basic and diluted	-211	-2,881
Weighted average common shares outstanding:
Weighted average common shares outstanding – basic	24,070	22,308
Weighted average common shares outstanding – diluted	24,070	22,308
Loss per share – basic:
Net loss allocated to common shareholders per share (in dollars per share)	($0.01)	($0.13)
Loss per share – diluted:
Net loss allocated to common shareholders per share (in dollars per share)	($0.01)	($0.13)
Restricted Stock [Member]
Net loss attributable to common stockholders – Basic and diluted:
Dividends	-5	-3
Common Stock
Net loss attributable to common stockholders – Basic and diluted:
Dividends	($1,198)	($1,263)

Loss_Per_Share_Details_1

Loss Per Share (Details 1) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Net loss allocated to common stockholders is not adjusted for:
Income allocated to unvested restricted shares	$5	$3
Loss attributable to redeemable noncontrolling interests in operating partnership	-72	-1,168
Total	($67)	($1,165)
Weighted average diluted shares are not adjusted for:
Antidilutive securities excluded (in shares)	8,552	8,837
Restricted Stock [Member]
Weighted average diluted shares are not adjusted for:
Antidilutive securities excluded (in shares)	36	61
Operating Partnership Units [Member]
Weighted average diluted shares are not adjusted for:
Antidilutive securities excluded (in shares)	8,516	8,776

Derivative_Instruments_and_Hed1

Derivative Instruments and Hedging (Details) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Indebtedness	$764,341	$765,230
Marketable securities	61,912	0
Liabilities associated with marketable securities and other	-10,450	0
Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Marketable securities	1,053
Liabilities associated with marketable securities and other	-917
Not Designated as Hedging Instrument [Member] | Interest Rate Cap One [Member]
Derivative [Line Items]
Notional amount	56,000
Strike rate	4.50%
Cost of derivative	8
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Two [Member]
Derivative [Line Items]
Notional amount		80,000
Strike rate		1.50%
Cost of derivative		93
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Three [Member]
Derivative [Line Items]
Notional amount		69,000
Strike rate		1.80%
Cost of derivative		19
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Four [Member]
Derivative [Line Items]
Notional amount		148,500
Strike rate		4.00%
Cost of derivative		33
Mortgages [Member] | Mortgage loan 3 [Member]
Derivative [Line Items]
Indebtedness	70,000	0
Mortgages [Member] | Mortgage loan 2 [Member]
Derivative [Line Items]
Indebtedness	80,000	80,000
Mortgages [Member] | Mortgage Loan 1 [Member]
Derivative [Line Items]
Indebtedness	0	69,000
Mortgages [Member] | Mortgage Loan 7 [Member]
Derivative [Line Items]
Indebtedness	$197,206	$197,605

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Significance of current credit spreads to level 3 input considerations	10.00%
Assets
Derivative assets	$11		$35
Marketable securities, fair value	61,912		0
Fair value of assets measured on a recurring basis	61,923
Liabilities [Abstract]
Liabilities associated with marketable securities and other, fair value	-10,450		0
Fair value of liabilities measured on a recurring basis	-10,450
Fair value of assets (liabilities) measured on a recurring basis, net	51,473
Effect of Fair Value Hedges on Results of Operations [Abstract]
Gain (loss) recognized in income	1,285	-15
Unrealized loss on derivatives	-32	-15
Unrealized gain on marketable securities	1,323	0
Realized loss on marketable securities	-6	0
Interest Rate Derivative [Member]
Assets
Derivative assets	11		35
Equity Put Option [Member]
Assets
Marketable securities, fair value	820
Effect of Fair Value Hedges on Results of Operations [Abstract]
Gain (loss) recognized in income	-629	0
Equity Put Option [Member] | Short [Member]
Liabilities [Abstract]
Liabilities associated with marketable securities and other, fair value	-310
Effect of Fair Value Hedges on Results of Operations [Abstract]
Gain (loss) recognized in income	307	0
Equity Call Option [Member]
Assets
Marketable securities, fair value	233
Effect of Fair Value Hedges on Results of Operations [Abstract]
Gain (loss) recognized in income	54	0
Equity Call Option [Member] | Short [Member]
Liabilities [Abstract]
Liabilities associated with marketable securities and other, fair value	-607
Effect of Fair Value Hedges on Results of Operations [Abstract]
Gain (loss) recognized in income	47	0
Equity - American Depositary Receipts [Member]
Assets
Marketable securities, fair value	764
Equity Securities [Member]
Assets
Marketable securities, fair value	44,571
Effect of Fair Value Hedges on Results of Operations [Abstract]
Gain (loss) recognized in income	1,388	0
U.S. Treasury Securities [Member]
Assets
Marketable securities, fair value	15,524
Effect of Fair Value Hedges on Results of Operations [Abstract]
Gain (loss) recognized in income	150	0
Margin Account Balance [Member]
Liabilities [Abstract]
Liabilities associated with marketable securities and other, fair value	-9,533
Fair Value, Inputs, Level 1 [Member]
Assets
Fair value of assets measured on a recurring basis	61,912
Liabilities [Abstract]
Fair value of liabilities measured on a recurring basis	-10,450
Fair value of assets (liabilities) measured on a recurring basis, net	51,462
Fair Value, Inputs, Level 1 [Member] | Equity Put Option [Member]
Assets
Marketable securities, fair value	820
Fair Value, Inputs, Level 1 [Member] | Equity Put Option [Member] | Short [Member]
Liabilities [Abstract]
Liabilities associated with marketable securities and other, fair value	-310
Fair Value, Inputs, Level 1 [Member] | Equity Call Option [Member]
Assets
Marketable securities, fair value	233
Fair Value, Inputs, Level 1 [Member] | Equity Call Option [Member] | Short [Member]
Liabilities [Abstract]
Liabilities associated with marketable securities and other, fair value	-607
Fair Value, Inputs, Level 1 [Member] | Equity - American Depositary Receipts [Member]
Assets
Marketable securities, fair value	764
Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member]
Assets
Marketable securities, fair value	44,571
Fair Value, Inputs, Level 1 [Member] | U.S. Treasury Securities [Member]
Assets
Marketable securities, fair value	15,524
Fair Value, Inputs, Level 1 [Member] | Margin Account Balance [Member]
Liabilities [Abstract]
Liabilities associated with marketable securities and other, fair value	-9,533
Significant Other Observable Inputs (Level 2) [Member]
Assets
Fair value of assets measured on a recurring basis	11
Liabilities [Abstract]
Fair value of assets (liabilities) measured on a recurring basis, net	11
Significant Other Observable Inputs (Level 2) [Member] | Interest Rate Derivative [Member]
Assets
Derivative assets	11		35
Derivative Financial Instruments, Assets [Member]
Effect of Fair Value Hedges on Results of Operations [Abstract]
Gain (loss) recognized in income	931	-15
Derivative Financial Instruments, Assets [Member] | Interest Rate Derivative [Member]
Effect of Fair Value Hedges on Results of Operations [Abstract]
Gain (loss) recognized in income	($32)	($15)

Summary_of_Fair_Value_of_Finan2

Summary of Fair Value of Financial Instruments (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Financial assets and liabilities measured at fair value:
Marketable securities	$61,912	$0
Marketable securities, fair value	61,912	0
Derivative assets, Carrying value	11	35
Derivative assets, Estimated fair value	11	35
Liabilities associated with marketable securities and other	10,450	0
Liabilities associated with marketable securities and other, fair value	10,450	0
Financial assets not measured at fair value:
Cash and cash equivalents, Carrying value	109,203	171,439	176,418	143,776
Cash and cash equivalents, Estimated fair value	109,203	171,439
Restricted cash, Carrying value	27,457	29,646
Restricted cash, Estimated fair value	27,457	29,646
Accounts receivable, Carrying value	13,418	12,382
Accounts receivable, Estimated fair value	13,418	12,382
Note receivable. Carrying value	8,098	8,098
Due from related party, net, Carrying value	742	541
Due from related party, net, Estimated fair value	742	541
Due from third-party hotel managers, Carrying value	6,070	5,504
Due from third-party hotel managers, Estimated fair value	6,070	5,504
Financial liabilities not measured at fair value:
Indebtedness	764,341	765,230
Accounts payable and accrued expenses, Carrying value	30,250	29,273
Accounts payable and accrued expenses, Estimated fair value	30,250	29,273
Dividends payable, Carrying value	1,389	1,425
Dividends payable, Estimated fair value	1,389	1,425
Due to Ashford Trust OP, net	335	896
Due to Ashford Trust OP, net, Estimated fair value	335	896
Due to Ashford Inc.	2,819	2,546
Due to Ashford Inc., Estimated fair value	2,819	2,546
Due to third-party hotel managers, Carrying value	860	954
Due to third-party hotel managers, Estimated fair value	860	954
Minimum [Member]
Financial assets not measured at fair value:
Notes receivable, Estimated fair value	10,078	10,295
Financial liabilities not measured at fair value:
Indebtedness, Estimated fair value	741,335	747,659
Maximum [Member]
Financial assets not measured at fair value:
Notes receivable, Estimated fair value	11,139	11,378
Financial liabilities not measured at fair value:
Indebtedness, Estimated fair value	$819,373	$826,359

Summary_of_Fair_Value_of_Finan3

Summary of Fair Value of Financial Instruments - Narrative (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Maximum maturity term of financial assets	90 days
Note receivable	$8,098	$8,098
Indebtedness	$764,341	$765,230
Minimum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable fair value variance from carrying value (as a percent)	24.50%	27.10%
Total indebtedness fair value variance from carrying value (as a percent)	97.00%	97.70%
Maximum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable fair value variance from carrying value (as a percent)	37.60%	40.50%
Total indebtedness fair value variance from carrying value (as a percent)	107.20%	108.00%

Redeemable_Noncontrolling_Inte1

Redeemable Noncontrolling Interests in Operating Partnership (Details) (USD $)	3 Months Ended		13 Months Ended	16 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Mar. 31, 2015
Noncontrolling Interest [Line Items]
Common units redeemed	232,000	0
Redemption value of common units	$4,017,000			$4,017,000
Redemption price per share of common units	$17.33			$17.33
Common units converted	30,000
Fair value of converted units	515,000			515,000
Redeemable noncontrolling interests in operating partnership	142,179,000		149,555,000	142,179,000
Noncontrolling interest in a consolidated entity	25.00%		25.00%	25.00%
Redemption value adjustment	2,757,000
Net loss attributable to redeemable noncontrolling interests in operating partnership	72,000	1,168,000
Cash distributions declared	435,000	439,000
Redeemable Noncontrolling Interests in Operating Partnership
Noncontrolling Interest [Line Items]
Redeemable noncontrolling interests in operating partnership	142,179,000		149,555,000	142,179,000
Net loss attributable to redeemable noncontrolling interests in operating partnership	72,000
Long Term Incentive Plan Units [Member]
Noncontrolling Interest [Line Items]
LTIP units issued	358,000			358,000
Units which have not reached full economic parity with the common units	3,200			3,200
Equity-based compensation expense	402,000	0
Unearned compensation	5,300,000			5,300,000
Amortization period	2 years 11 months 27 days
Ashford Prime OP [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interest in a consolidated entity	25.86%		25.88%	25.86%
Redemption value adjustment			$47,300,000	$43,300,000

Equity_and_StockBased_Compensa1

Equity and Stock-Based Compensation (Details) (USD $)	0 Months Ended	3 Months Ended		5 Months Ended
	Oct. 27, 2014	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Dec. 31, 2014
		hotel		hotel	hotel
Class of Stock [Line Items]
Dividends declared - common stock		$1,203,000	$1,266,000
Equity-based compensation		67,000
Share repurchase program authorized amount	100,000,000
Shares of stock repurchased during period		471,064		1,400,000
Value of stock repurchased during period		8,100,000		24,200,000
Noncontrolling interest in a consolidated entity		25.00%		25.00%	25.00%
Number of hotel properties with JV interests		2		2	2
Noncontrolling interest in consolidated entities		-4,608,000		-4,608,000	-4,461,000
Loss from consolidated entities attributable to noncontrolling interest		147,000	405,000
Additional Paid-in Capital
Class of Stock [Line Items]
Equity-based compensation		$67,000	$0

Commitments_and_Contingencies_

Commitments and Contingencies - Narrative (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Restricted Cash [Member] | Minimum [Member]
Commitments and Contingencies [Line Items]
Replacement reserve escrow as percentage of property revenue	4.00%
Restricted Cash [Member] | Maximum [Member]
Commitments and Contingencies [Line Items]
Replacement reserve escrow as percentage of property revenue	5.00%
Management Fees [Member]
Commitments and Contingencies [Line Items]
Portion of project management fees to project costs	4.00%
Management Fees [Member] | Minimum [Member]
Commitments and Contingencies [Line Items]
Monthly property management fee	10,000
Property management fee, percent	3.00%
Management Fees [Member] | Maximum [Member]
Commitments and Contingencies [Line Items]
Property management fee, percent	7.00%

Segment_Reporting_Details

Segment Reporting (Details)	3 Months Ended
	Mar. 31, 2015
	segment
Segment Reporting [Abstract]
Number of operating segments	1