EXHIBIT 10.2.1

May 8, 2015    

Ashford Credit Holdings LLC

14185 Dallas Parkway, Suite 1100

Dallas, TX 75254

Ashford Hospitality Limited Partnership

14185 Dallas Parkway, Suite 1100

Dallas, TX 75254

Ladies and Gentlemen:

Reference is made to that certain Contribution Agreement (the “Agreement”), dated as of February 18, 2015, by and between Ashford Hospitality Select, Inc., Ashford Hospitality Select Limited Partnership, Ashford Credit Holdings LLC and Ashford Hospitality Limited Partnership. Capitalized terms not otherwise defined in this letter have the meanings assigned in the Agreement.

The undersigned hereby notify you, pursuant to Section 2.3 of the Agreement, that the Agreement is terminated and of no further force and effect.

Very truly yours,

ASHFORD HOSPITALITY SELECT LIMITED PARTNERSHIP

By: Ashford OP Select General Partner LLC, its general partner

By: /s/ DAVID BROOKS

Name: David Brooks

Title: Vice President