XML 61 R45.htm IDEA: XBRL DOCUMENT

Summary of Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Carrying amounts and estimated fair values of financial instruments, for periods indicated, were as follows (in thousands):


	December 31, 2021				December 31, 2020
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial assets and liabilities measured at fair value:

Derivative assets	$	501	$	501	$	263	$	263

Embedded debt derivative	27,906		27,906		—		—

Financial assets not measured at fair value:
Cash and cash equivalents	$	592,110	$	592,110	$	92,905	$	92,905
Restricted cash	99,534		99,534		74,408		74,408
Accounts receivable, net	37,720		37,720		21,760		21,760
Notes receivable, net	8,723		$8,287 to $9,159		8,263		$7,850 to $8,676
Due from Ashford Inc., net	25		25		—		—
Due from related parties, net	7,473		7,473		5,801		5,801
Due from third-party hotel managers	26,896		26,896		9,383		9,383

Financial liabilities not measured at fair value:
Indebtedness	$	3,851,845	$3,407,210 to $3,765,858		$	3,711,297	$3,167,369 to $3,500,777
Accounts payable and accrued expenses	117,650		117,650		99,954		99,954
Accrued interest payable	15,432		15,432		98,685		98,685
Dividends and distributions payable	3,104		3,104		868		868
Due to Ashford Inc., net	—		—		13,383		13,383

Due to related parties, net	728		728		—		—
Due to third-party hotel managers	1,204		1,204		184		184