Summary of Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

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


	March 31, 2024				December 31, 2023
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial assets measured at fair value:


Derivative assets	$	3,087	$	3,087	$	2,847	$	2,847
Financial liabilities measured at fair value:
Derivative liabilities	$	—	$	—	$	12	$	12
Financial assets not measured at fair value:
Cash and cash equivalents	$	137,051	$	137,051	$	85,599	$	85,599
Restricted cash	82,372		82,372		80,904		80,904
Accounts receivable, net	41,001		41,001		39,199		39,199





Due from third-party hotel managers	23,777		23,777		17,739		17,739
Financial liabilities not measured at fair value:
Indebtedness	$	1,233,620	$	1,184,388	$	1,171,459	$	1,124,377
Accounts payable and accrued expenses	144,240		144,240		149,867		149,867
Dividends and distributions payable	9,253		9,253		9,158		9,158

Due to Ashford Inc.	3,728		3,728		1,471		1,471
Due to related parties, net	766		766		603		603
Due to third-party hotel managers	1,993		1,993		1,608		1,608