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Ashford Inc. (AINC) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

Ashford Inc.

HISTORY TOOLS
CIK: 1604738 Ticker: AINC
EXHIBIT 99.1


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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 FOURTH QUARTER AND YEAR END 2019 RESULTS
Gross Assets Under Management $8.1 Billion at Quarter End
Total Revenue Increased 111% in the Fourth Quarter
Net Loss Attributable to Common Stockholders was $15.1 Million in the Fourth Quarter
Adjusted EBITDA Increased 11.9% in the Fourth Quarter
Completed Acquisition of Remington’s Hotel Management Business
Repurchased Stock from Ashford Trust and Braemar Hotels & Resorts

DALLAS, February 25, 2020 - Ashford Inc. (NYSE American: AINC) (“Ashford” or the “Company”) today reported the following results and performance measures for the fourth quarter and year ended December 31, 2019. Unless otherwise stated, all reported results compare the fourth quarter and year ended December 31, 2019, with the fourth quarter and year ended December 31, 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 two primary areas:
◦
Grow our existing REIT platforms accretively and create new platforms; and
◦
Grow our service businesses via increased AUM and third-party business
•
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 fourth quarter of 2019 totaled $15.1 million, or $6.31 per share, compared with net income of $0.3 million, or $0.14 per share, in the prior-year quarter. Adjusted net income for the fourth quarter was $7.2 million, or $1.27 per diluted share, compared with $9.3 million, or $2.20 per diluted share, in the prior-year quarter.
•
Total revenue for the fourth quarter of 2019 was $107.6 million, reflecting a growth rate of 111% over the prior-year quarter.
•
Adjusted EBITDA for the fourth quarter was $8.9 million, reflecting a growth rate of 11.9% over the prior-year quarter.
•
At the end of the fourth quarter of 2019, the Company had approximately $8.1 billion of gross assets under management.
•
During the quarter, the Company repurchased stock from Ashford Trust and Braemar Hotels &


The following information was filed by Ashford Inc. (AINC) on Tuesday, February 25, 2020 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Ashford Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Condensed Balance Sheets
Condensed Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Equity (Deficit)
Consolidated Statements Of Operations
Acquisitions
Acquisitions (Tables)
Acquisitions - Narrative (Details)
Acquisitions - Schedules (Details)
Commitments And Contingencies
Commitments And Contingencies (Narrative) (Details)
Concentration Of Risk
Concentration Of Risk (Details)
Concentration Of Risk (Tables)
Employee Benefit Plans
Employee Benefit Plans (Details)
Employee Benefit Plans (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)
Fair Value Measurements - Level 3 (Details)
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)
Income Taxes
Income Taxes (Components Of Income Tax (Expense) Benefit) (Details)
Income Taxes (Narrative) (Details)
Income Taxes (Net Deferred Asset (Liability)) (Details)
Income Taxes (Reconciliation Of Income Tax Benefit To Expense) (Details)
Income Taxes (Reconciliation Of Unrecognized Tax Benefit) (Details)
Income Taxes (Tables)
Lease Commitments
Lease Commitments (Tables)
Lease Commitments - Lease Balances And Other Information (Details)
Lease Commitments - Lease Commitments (Details)
Lease Commitments - Lease Expense And Cash Outflows From Operating And Finance Leases (Details) (Details)
Lease Commitments - Maturities Of Operating And Financing Lease Liabilities (Details)
Mezzanine Equity
Mezzanine Equity (Details)
Mezzanine Equity (Tables)
Notes Payable, Net
Notes Payable, Net (Tables)
Notes Payable, Net - Debt Schedule (Details)
Notes Payable, Net - Maturities Of Debt (Details)
Organization And Description Of Business
Organization And Description Of Business (Details)
Property And Equipment, Net
Property And Equipment, Net (Details)
Property And Equipment, Net (Tables)
Related Party Transactions
Related Party Transactions (Details)
Related Party Transactions (Tables)
Revenues
Revenues (Details)
Revenues (Tables)
Segment Reporting
Segment Reporting (Details)
Segment Reporting (Tables)
Segment Reporting - Geographic Information (Details)
Selected Financial Quarterly Data (Unaudited)
Selected Financial Quarterly Data (Unaudited) (Details)
Selected Financial Quarterly Data (Unaudited) (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)
Ticker: AINC
CIK: 1604738
Form Type: 10-K Annual Report
Accession Number: 0001604738-20-000014
Submitted to the SEC: Thu Mar 12 2020 4:56:05 PM EST
Accepted by the SEC: Thu Mar 12 2020
Period: Tuesday, December 31, 2019
Industry: Management Consulting Services

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