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Ashford Inc. (AINC) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

Ashford Inc.

CIK: 1604738 Ticker: AINC
EXHIBIT 99.1


ashfordk150dpa03.jpg
NEWS RELEASE

Contact:  
 
Deric Eubanks
 
Jordan Jennings
 
Joe Calabrese
 
 
Chief Financial Officer
 
Investor Relations
 
Financial Relations Board
 
 
(972) 490-9600
 
(972) 778-9487
 
(212) 827-3772

ASHFORD REPORTS SECOND QUARTER 2019 RESULTS
Gross Assets Under Management $8.2 Billion at Quarter End
Total Revenue Increased 16% in the Second Quarter
Announced Definitive Agreement to Acquire Remington’s Hotel Management Business
Closed on Acquisition of Sebago

DALLAS, August 1, 2019 - Ashford Inc. (NYSE American: AINC) (“Ashford” or the “Company”) today reported the following results and performance measures for the second quarter ended June 30, 2019. Unless otherwise stated, all reported results compare the second quarter ended June 30, 2019, with the second quarter ended June 30, 2018 (see discussion below). The reconciliation of non-GAAP financial measures is included in the financial tables accompanying this press release.
STRATEGIC OVERVIEW
High-growth, fee-based business model
Diversified platform of multiple fee generators
Seeks to grow in three primary areas:
Expanding existing platforms accretively, and accelerating performance to earn incentive fees;
Starting new platforms for additional base and incentive fees; and
Investing in or incubating strategic businesses that can achieve accelerated growth through doing business with our existing platforms, and by leveraging our deep knowledge and extensive relationships within the hospitality sector
Highly-aligned management team with superior long-term track record
Leader in asset and investment management for the real estate & hospitality sectors

FINANCIAL AND OPERATING HIGHLIGHTS
Net loss attributable to common stockholders for the second quarter of 2019 totaled $3.2 million, or $3.00 per diluted share, compared with net income of $9.0 million, or $0.93 per diluted share, in the prior-year quarter. Adjusted net income for the second quarter was $8.7 million, or $2.04 per diluted share, compared with $9.5 million, or $3.61 per diluted share, in the prior-year quarter.
Total revenue for the second quarter of 2019 was $63.5 million, reflecting a growth rate of 16% over the prior-year quarter.
Adjusted EBITDA for the second quarter was $9.6 million.
At the end of the second quarter of 2019, the Company had approximately $8.2 billion of gross assets under management.
During the quarter, the Company signed a definitive agreement to acquire the Hotel Management business of privately-held Remington Holdings, LP.



The following information was filed by Ashford Inc. (AINC) on Thursday, August 1, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Ashford Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

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Inside Ashford Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Equity
Condensed Consolidated Statements Of Operations
Consolidated Statements Of Comprehensive Income (Loss)
Acquisitions
Acquisitions (Tables)
Acquisitions - Narrative (Details)
Acquisitions - Schedules (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Deferred Compensation Plan
Deferred Compensation Plan (Details)
Deferred Compensation Plan (Tables)
Equity
Equity (Details)
Equity (Tables)
Equity-Based Compensation
Equity-Based Compensation (Details)
Equity-Based Compensation (Tables)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Goodwill And Intangible Assets, Net
Goodwill And Intangible Assets, Net (Tables)
Goodwill And Intangible Assets, Net - Goodwill (Details)
Goodwill And Intangible Assets, Net - Intangible Assets (Details)
Goodwill And Intangible Assets, Net - Narrative (Details)
Income (Loss) Per Share
Income (Loss) Per Share (Details)
Income (Loss) Per Share (Tables)
Leases
Leases (Tables)
Leases - Lease Balances And Other Information (Details)
Leases - Lease Commitments (Details)
Leases - Lease Expense And Cash Outflows From Operating And Finance Leases (Details) (Details)
Leases - Maturities Of Operating And Financing Lease Liabilities (Details)
Mezzanine Equity
Mezzanine Equity (Details)
Mezzanine Equity (Tables)
Notes Payable, Net
Notes Payable, Net (Details)
Notes Payable, Net (Tables)
Organization And Description Of Business
Organization And Description Of Business (Details)
Related Party Transactions
Related Party Transactions (Details)
Related Party Transactions (Tables)
Revenues
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Revenues (Tables)
Segment Reporting
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Segment Reporting (Tables)
Significant Accounting Policies
Significant Accounting Policies (Details)
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Subsequent Events
Subsequent Events (Details)
Summary Of Fair Value Of Financial Instruments
Summary Of Fair Value Of Financial Instruments (Details)
Summary Of Fair Value Of Financial Instruments (Tables)

Material Contracts, Statements, Certifications & more

Ashford Inc. provided additional information to their SEC Filing as exhibits

Ticker: AINC
CIK: 1604738
Form Type: 10-Q Quarterly Report
Accession Number: 0001604738-19-000031
Submitted to the SEC: Thu Aug 08 2019 11:04:01 AM EST
Accepted by the SEC: Thu Aug 08 2019
Period: Sunday, June 30, 2019
Industry: Management Consulting Services

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