Summary of Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2023

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


	June 30, 2023				December 31, 2022
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial assets measured at fair value:


Derivative assets	$	6,308	$	6,308	$	6,482	$	6,482
Financial liabilities measured at fair value:
Derivative liabilities	$	165	$	165	$	284	$	284
Financial assets not measured at fair value:
Cash and cash equivalents	$	128,025	$	128,025	$	261,541	$	261,541
Restricted cash	63,439		63,439		54,155		54,155
Accounts receivable, net	32,864		32,864		51,448		51,448




Due from related parties, net	333		333		938		938
Due from third-party hotel managers	15,430		15,430		26,625		26,625
Financial liabilities not measured at fair value:
Indebtedness	$	1,138,528	$1,050,061 to $1,160,595		$	1,337,250	$1,229,671 to $1,359,110
Accounts payable and accrued expenses	135,096		135,096		133,978		133,978
Dividends and distributions payable	8,917		8,917		8,184		8,184

Due to Ashford Inc.	4,558		4,558		10,005		10,005

Due to third-party hotel managers	1,579		1,579		2,096		2,096