Summary of Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

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


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


Derivative assets	$	2,847	$	2,847	$	6,482	$	6,482
Financial liabilities measured at fair value:
Derivative liabilities	$	12	$	12	$	284	$	284
Financial assets not measured at fair value:
Cash and cash equivalents	$	85,599	$	85,599	$	261,541	$	261,541
Restricted cash	80,904		80,904		54,155		54,155
Accounts receivable, net	39,199		39,199		51,448		51,448




Due from related parties, net	—		—		938		938
Due from third-party hotel managers	17,739		17,739		26,625		26,625
Financial liabilities not measured at fair value:
Indebtedness	$	1,171,459	$	1,124,377	$	1,337,250	$	1,294,391
Accounts payable and accrued expenses	149,867		149,867		133,978		133,978
Dividends and distributions payable	9,158		9,158		8,184		8,184

Due to Ashford Inc.	1,471		1,471		10,005		10,005
Due to related parties, net	603		603		—		—
Due to third-party hotel managers	1,608		1,608		2,096		2,096