Summary of Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

The carrying amounts and estimated fair values of financial instruments were as follows (in thousands):


	March 31, 2022				December 31, 2021
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial assets measured at fair value:


Derivative assets	$	1,058	$	1,058	$	139	$	139
Financial liabilities measured at fair value:
Derivative liabilities	$	1,870	$	1,870	$	1,435	$	1,435
Financial assets not measured at fair value:
Cash and cash equivalents	$	185,157	$	185,157	$	215,998	$	215,998
Restricted cash	41,181		41,181		47,376		47,376
Accounts receivable, net	29,248		29,248		23,701		23,701




Due from related parties, net	930		930		1,770		1,770
Due from third-party hotel managers	40,108		40,108		27,461		27,461
Financial liabilities not measured at fair value:
Indebtedness	$	1,239,268	$1,065,094 to $1,177,210		$	1,172,312	$1,022,408 to $1,130,029
Accounts payable and accrued expenses	118,511		118,511		96,316		96,316
Dividends and distributions payable	3,229		3,229		2,173		2,173

Due to Ashford Inc.	3,788		3,788		1,474		1,474

Due to third-party hotel managers	578		578		610		610