DALLAS, April 4, 2022 /PRNewswire/ — Ashford Inc. (NYSE American: INAC) (“Ashford” or the “Company”) today announced that the Company has entered into a new $100 million Corporate Term Loan (the “Loan”). The loan has an initial term of five years with three one-year extension options subject to the satisfaction of certain conditions and bears interest at LIBOR + 7.35%. At closing, the Company withdrew $50 million on the Loan and has the option of drawing the additional $50 million over the next 24 months. The loan proceeds will be used to repay the Company’s existing term loan and for general corporate purposes, including potential acquisitions.

“We are very pleased to announce this new corporate loan which will give us greater flexibility to pursue our growth strategies,” commented Monty J. Bennett, chairman and CEO of Ashford. “By repaying our previous term loan and having access to additional capital, we are well positioned to continue to capitalize on the growth we are seeing in the hospitality industry.”

Ashford is an alternative asset management company with a portfolio of strategic operating businesses that provides global asset management, investment management and related services to the real estate and investment industries. hotel.

Forward-looking statements

Certain statements and assumptions in this press release contain or are based upon “forward-looking” information and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include , among other things, statements about the Company’s strategy and future plans. These forward-looking statements are subject to risks and uncertainties. When we use the words “probably will result”, “may”, “anticipate”, “estimate”, “should”, “expect”, “believe”, “intend”, or similar expressions, we have intent to identify statements. Such statements are subject to numerous assumptions and uncertainties, many of which are beyond Ashford Inc.’s control.

These forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including, without limitation: the impact of COVID-19, including one or several possible recurrences of COVID-19 cases surges that would cause state and local governments to reinstate travel restrictions and the rate of uptake and effectiveness of vaccines to prevent COVID-19, on our business strategy and d ‘investment ; our ability to maintain compliance with NYSE American LLC’s continuing listing standards; our ability to regain Form S-3 eligibility; our ability to repay, refinance or restructure our debt and the debt of certain of our subsidiaries; planned or expected purchases or sales of assets; our projected operating results; the completion of any pending transactions; our understanding of our competition; market trends; projected capital expenditures; the impact of technology on our operations and business; general volatility in financial markets and the market price of our common stock and preferred stock; the availability, terms and deployment of capital; availability of qualified personnel; changes in our industry and the markets in which we operate, interest rates or the general economy; and the degree and nature of our competition. These and other risk factors are discussed more fully in the Company’s filings with the Securities and Exchange Commission.

Forward-looking statements included in this press release speak only as of the date of this press release. These forward-looking statements are based on our beliefs, assumptions and expectations regarding our future performance taking into account all information currently available to us. These beliefs, assumptions and expectations may change due to many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans and other objectives may differ materially from those expressed in our forward-looking statements. You should carefully consider this risk when making an investment decision regarding our securities. Investors should not place undue reliance on these forward-looking statements. The Company cannot guarantee that these forward-looking statements will be achieved or that no deviations will occur. We are under no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise, except to the extent required by law. law.

SOURCEAshford Inc.

Michael J. Birnbaum