Summary of Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2021

Investments, All Other Investments [Abstract]

Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments

Carrying amounts and estimated fair values of financial instruments, for periods indicated, were as follows (in thousands):

	June 30, 2021				December 31, 2020
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial assets and liabilities measured at fair value:
Derivative assets	$	128	$	128	$	263	$	263
Embedded debt derivative	45,078		45,078		—		—
Financial assets not measured at fair value:
Cash and cash equivalents	$	520,387	$	520,387	$	92,905	$	92,905
Restricted cash	70,090		70,090		74,408		74,408
Accounts receivable, net	37,242		37,242		21,760		21,760
Notes receivable, net	8,555		$8,127 to $8,983		8,263		$7,850 to $8,676
Due from related parties, net	7,407		7,407		5,801		5,801
Due from third-party hotel managers	15,917		15,917		9,383		9,383
Financial liabilities not measured at fair value:
Indebtedness	$	3,860,066	$3,207,933 to $3,545,607		$	3,711,297	$3,167,369 to $3,500,777
Accounts payable and accrued expenses	110,761		110,761		99,954		99,954
Accrued interest payable	19,328		19,328		98,685		98,685
Dividends and distributions payable	236		236		868		868
Due to Ashford Inc., net	4,844		4,844		13,383		13,383
Due to related parties, net	800		800		—		—
Due to third-party hotel managers	889		889		184		184