ASHFORD ANNOUNCES ACQUISITION OF CHESAPEAKE HOSPITALITY TO ACCELERATE GROWTH OF ITS HOTEL MANAGEMENT BUSINESS

DALLAS, April 18, 2022 /PRNewswire/ — Ashford Inc. (NYSE American: AINC) (“Ashford” or the “Company”) today announced that Remington Hotels (“Remington”), a dynamic, growing, independent hotel management company with over 40 years of experience in the hospitality business and a wholly-owned portfolio company of Ashford, has acquired privately held Chesapeake Hospitality (“Chesapeake”), a premier third-party hotel management company. Ashford is acquiring Chesapeake for an initial consideration of $15.

ASHFORD ANNOUNCES ACQUISITION OF CHESAPEAKE HOSPITALITY TO ACCELERATE GROWTH OF ITS HOTEL MANAGEMENT BUSINESS
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