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Ashford Inc. (AINC) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

Ashford Inc.

CIK: 1604738 Ticker: AINC
EXHIBIT 99.1

ashfordk150dpa081a.jpg
NEWS RELEASE
Contact:Deric EubanksJordan JenningsJoe Calabrese
Chief Financial OfficerInvestor RelationsFinancial Relations Board
(972) 490-9600(972) 778-9487(212) 827-3772


ASHFORD REPORTS FIRST QUARTER 2021 RESULTS
Gross Assets Under Management $7.3 Billion at Quarter End
OpenKey Continues to See Significant Increase in Demand for its Digital Key Product
Ashford Trust Completes Strategic Financing of up to $450 Million

DALLAS, May 5, 2021 - Ashford Inc. (NYSE American: AINC) (“Ashford” or the “Company”) today reported the following results and performance measures for the first quarter ended March 31, 2021. Unless otherwise stated, all reported results compare the first quarter ended March 31, 2021, with the first quarter ended March 31, 2020 (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
Four paths to growth:
Recovery of the hospitality industry;
Increase assets under management (AUM);
Growth of third-party business; and
Acquisition or incubation of additional businesses
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 first quarter of 2021 totaled $17.1 million, or $6.36 per diluted share.
Total revenue for the first quarter of 2021 was $63.9 million.
Adjusted EBITDA for the first quarter was $5.5 million.
At the end of the first quarter of 2021, the Company had approximately $7.3 billion of gross assets under management.
As of March 31, 2021, the Company had corporate cash of approximately $31.2 million.
The Company plans to publish an investor presentation in the coming weeks that outlines the growth prospects for its businesses over the coming years.

OPENKEY UPDATE
Ashford currently owns a 75% interest in OpenKey. OpenKey is the universal, industry-standard smartphone App for keyless entry in hotel guestrooms. OpenKey continues to expand its platform with 236 hotels under contract at the end of the first quarter. As the hospitality industry strives to implement measures to provide a clean and safe environment for guests, the Company expects that the digital


The following information was filed by Ashford Inc. (AINC) on Wednesday, May 5, 2021 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 2021 10-K Annual Report includes:

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  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income (Loss)
Condensed Consolidated Statements Of Equity (Deficit)
Condensed Consolidated Statements Of Operations
Commitments And Contingencies
Commitments And Contingencies (Details)
Deferred Compensation Plan
Deferred Compensation Plan (Tables)
Deferred Compensation Plan - Dcp Activity (Details)
Equity (Deficit)
Equity (Deficit) (Tables)
Equity (Deficit) - Noncontrolling Interest In Consolidated Entities (Details)
Equity-Based Compensation
Equity-Based Compensation (Tables)
Equity-Based Compensation - Components Of Equity-Based Compensation (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details)
Fair Value Measurements - Effect Of Fair Value Measured Assets And Liabilities On The Condensed Consolidated Statements Of Operations (Details)
Fair Value Measurements - Narrative (Details)
Fair Value Measurements - Restricted Investment (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 (Tables)
Income (Loss) Per Share - Basic And Diluted Income (Loss) Per Share (Details)
Income (Loss) Per Share - Diluted Income (Loss) Per Share (Details)
Mezzanine Equity
Mezzanine Equity (Tables)
Mezzanine Equity - Narrative (Details)
Mezzanine Equity - Preferred Stock Cumulative Dividends (Details)
Mezzanine Equity - Redeemable Noncontrolling Interests (Details)
Notes Payable, Net
Notes Payable, Net (Tables)
Notes Payable, Net - Schedule Of Notes Payable (Details)
Organization And Description Of Business
Organization And Description Of Business (Details)
Related Party Transactions
Related Party Transactions (Tables)
Related Party Transactions - Narrative (Details)
Related Party Transactions - Performance Obligations (Details)
Related Party Transactions - Summary Of Revenue (Details)
Revenues
Revenues (Tables)
Revenues - Deferred Income Activity (Details)
Revenues - Disaggregated Revenue (Details)
Revenues - Narrative (Details)
Revenues - Remaining Performance Obligations (Details)
Revenues - Revenue By Geographic Information (Details)
Segment Reporting
Segment Reporting (Details)
Segment Reporting (Tables)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Narrative (Details)
Significant Accounting Policies - Noncontrolling Interests (Details)
Significant Accounting Policies - Ownership Interest In Rea Holdings (Details)
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: 0001604738-21-000033
Submitted to the SEC: Tue May 11 2021 4:38:29 PM EST
Accepted by the SEC: Tue May 11 2021
Period: Wednesday, March 31, 2021
Industry: Management Consulting Services

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