EXHIBIT 21

Subsidiaries Listing as of December 31, 2017

The following list details certain of the subsidiaries of Ashford Inc. Subsidiaries not included in the list are omitted because, in the aggregate, they are insignificant as defined by Item 601(b)(21) of Regulation S-K.

Subsidiary

Ashford Advisors, Inc.

AIM General Partner, LLC

Ashford Investment Management, LLC

AIM Management Holdco, LLC

AIM Performance Holdco, LP

AIM REHE Funds GP, LP

Ashford Hospitality Advisors LLC

Ashford Lending Corporation

OpenKey, Inc.

Ashford Hospitality Holdings, LLC

Ashford Hospitality Services LLC

PRE Opco, LLC

Lismore Capital LLC

PT Holdco, LLC

Presentation Technologies, LLC

J&S Audio Visual communications LLC

J&S Audio Visual Mexico S. de R.L.

J&S Audio Visual Dominican Republic L.P.

Red Hospitality & Leisure, LLC