EXHIBIT 21.1

SUBSIDIARIES LISTING AS OF DECEMBER 31, 2017

All the subsidiaries listed below are incorporated in Delaware except that Ashford Hospitality Trust, Inc. is incorporated in Maryland. Subsidiaries not included in the list are omitted because, in the aggregate, they are insignificant as defined by Item 601(b)(21) of Regulation S-K.

Ashford Hospitality Trust, Inc.

Ashford Hospitality Advisors LLC

Ashford Hospitality Limited Partnership

Ashford OP General Partner LLC

Ashford OP Limited Partner LLC

Ashford Crystal Gateway LP

Ashford TRS Corporation

PIM Highland Holding LLC

PIM Highland TRS Corporation

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