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Summary of Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2024
Investments, All Other Investments [Abstract]  
Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments Carrying amounts and estimated fair values of financial instruments, for periods indicated, were as follows (in thousands):
March 31, 2024December 31, 2023
Carrying ValueEstimated Fair ValueCarrying ValueEstimated Fair Value
Financial assets measured at fair value:
Derivative assets$12,398 $12,398 $13,696 $13,696 
Financial liabilities measured at fair value:
Embedded debt derivative$21,072 $21,072 $23,696 $23,696 
Financial assets not measured at fair value:
Cash and cash equivalents (1)
$112,657 $112,657 $165,232 $165,232 
Restricted cash (1)
135,748 135,748 146,302 146,302 
Accounts receivable, net (1)
57,428 57,428 45,692 45,692 
Notes receivable, net9,642 
9,642
7,369 
7,369
Due from third-party hotel managers
23,531 23,531 21,681 21,681 
Financial liabilities not measured at fair value:
Indebtedness (1)
$3,017,302 
$2,942,453
$3,038,139 
$2,960,630
Indebtedness associated with hotels in receivership355,120 355,120 355,120 355,120 
Accounts payable and accrued expenses (1)
133,982 133,982 129,554 129,554 
Accrued interest payable (1)
13,291 13,291 13,040 13,040 
Accrued interest associated with hotels in receivership23,040 23,040 14,024 14,024 
Dividends and distributions payable3,651 3,651 3,566 3,566 
Due to Ashford Inc., net (1)
9,805 9,805 13,262 13,262 
Due to related parties, net (1)
2,295 2,295 5,874 5,874 
Due to third-party hotel managers1,487 1,487 1,193 1,193 
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(1) Includes balances associated with assets held for sale and liabilities associated with assets held for sale as of March 31, 2024.