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Summary of Fair Value of Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 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):
September 30, 2024December 31, 2023
Carrying ValueEstimated Fair ValueCarrying ValueEstimated Fair Value
Financial assets measured at fair value:
Derivative assets$4,074 $4,074 $13,696 $13,696 
Financial liabilities measured at fair value:
Embedded debt derivative$22,400 $22,400 $23,696 $23,696 
Financial assets not measured at fair value:
Cash and cash equivalents (1)
$119,659 $119,659 $165,232 $165,232 
Restricted cash (1)
114,282 114,282 146,302 146,302 
Accounts receivable, net (1)
49,874 49,874 45,692 45,692 
Notes receivable, net10,164 
10,164
7,369 
7,369
Due from related parties, net 2,078 2,078 — — 
Due from third-party hotel managers (1)
26,684 26,684 21,681 21,681 
Financial liabilities not measured at fair value:
Indebtedness (1)
$2,722,240 
$2,681,085
$3,038,139 
$2,960,630
Indebtedness associated with hotels in receivership322,800 265,256 355,120 289,028 
Accounts payable and accrued expenses (1)
146,402 146,402 129,554 129,554 
Accrued interest payable (1)
10,714 10,714 13,040 13,040 
Accrued interest associated with hotels in receivership42,847 42,847 14,024 14,024 
Dividends and distributions payable3,833 3,833 3,566 3,566 
Due to Ashford Inc., net (1)
6,407 6,407 13,262 13,262 
Due to related parties, net
— — 5,874 5,874 
Due to third-party hotel managers1,149 1,149 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 December 31, 2023.