Summary of Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2024

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


	June 30, 2024				December 31, 2023
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial assets measured at fair value:


Derivative assets	$	2,177	$	2,177	$	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 (1)	$	120,318	$	120,318	$	85,599	$	85,599
Restricted cash (1)	60,741		60,741		80,904		80,904
Accounts receivable, net (1)	33,998		33,998		39,199		39,199





Due from third-party hotel managers	17,088		17,088		17,739		17,739
Financial liabilities not measured at fair value:
Indebtedness (1)	$	1,203,788	$	1,165,614	$	1,171,459	$	1,124,377
Accounts payable and accrued expenses (1)	134,781		134,781		149,867		149,867
Dividends and distributions payable	9,333		9,333		9,158		9,158

Due to Ashford Inc. (1)	2,744		2,744		1,471		1,471
Due to related parties, net	—		—		603		603
Due to third-party hotel managers (1)	1,253		1,253		1,608		1,608

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(1)Includes balances associated with assets held for sale and liabilities associated with assets held for sale as of June 30, 2024.