ASHFORD HOSPITALITY TRUST ANNOUNCES PRELIMINARY REVPAR RESULTS FOR FIRST QUARTER 2022

Rhea-AI Summary

Ashford Hospitality Trust (AHT) announced preliminary results for Q1 2022, expecting an occupancy rate of approximately 58% and an average daily rate (ADR) of $166, leading to a RevPAR of about $97. This represents a 103% increase from Q1 2021 but a 23% decline compared to Q1 2019. RevPAR showed a decreasing trend monthly, dropping 36%, 25%, and 13% in January, February, and March 2022 compared to the same months in 2019, respectively. CEO Rob Hays expressed optimism about the industry’s recovery and the company's potential amidst current challenges.

Positive

• RevPAR increased 103% compared to Q1 2021.
• The company is well-positioned to capitalize on the industry's recovery.

Negative

• Expected RevPAR shows a 23% decrease compared to Q1 2019.
• RevPAR decreased 36%, 25%, and 13% for January, February, and March 2022 compared to the same months in 2019.

DALLAS, April 6, 2022 /PRNewswire/ -- Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") reported today that the Company expects to report occupancy of approximately 58% for the first quarter of 2022 with an average daily rate ("ADR") of approximately $166 resulting in RevPAR of approximately $97. This RevPAR reflects an approximate increase of 103% compared to the first quarter of 2021 and a decrease of approximately 23% compared to the first quarter of 2019.

Additionally, for the month of January 2022, RevPAR decreased approximately 36% versus January 2019. For the month of February 2022, RevPAR decreased approximately 25% versus February 2019. For the month of March 2022, RevPAR decreased approximately 13% versus March 2019.

"We continue to be encouraged by the positive momentum in our portfolio and are pleased to report these improved preliminary RevPAR results for the 2022 first quarter," commented Rob Hays, Ashford Trust's President and Chief Executive Officer. "We believe the industry is poised for a solid recovery in 2022 and our attractive hotel portfolio with its high exposure to transient leisure customers remains well-positioned to capitalize on that recovery."

Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing predominantly in upper upscale, full-service hotels.

Forward-Looking Statements

Certain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being 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 others, statements about the Company's strategy and future plans. These forward-looking statements are subject to risks and uncertainties. When we use the words "will likely result," "may," "anticipate," "estimate," "should," "expect," "believe," "intend," or similar expressions, we intend to identify forward-looking statements. Such statements are subject to numerous assumptions and uncertainties, many of which are outside Ashford Trust'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, and the rate of adoption and efficacy of vaccines to prevent COVID-19, on our business and investment strategy; our ability to repay, refinance, or restructure our debt and the debt of certain of our subsidiaries; anticipated or expected purchases or sales of assets; our projected operating results; 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 of the capital markets and the market price of our common stock and preferred stock; 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 more fully discussed in Ashford Trust's filings with the Securities and Exchange Commission.

The forward-looking statements included in this press release are only made as of the date of this press release. Such forward-looking statements are based on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of 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 vary materially from those expressed in our forward-looking statements. You should carefully consider these risks when you make an investment decision concerning our securities. Investors should not place undue reliance on these forward-looking statements. The Company can give no assurance that these forward-looking statements will be attained or that any deviation will not occur. We are not obligated 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.

View original content:https://www.prnewswire.com/news-releases/ashford-hospitality-trust-announces-preliminary-revpar-results-for-first-quarter-2022-301519418.html

SOURCE Ashford Hospitality Trust, Inc.

FAQ

What are the preliminary Q1 2022 results for Ashford Hospitality Trust (AHT)?

AHT reported an expected occupancy of approximately 58%, an average daily rate of $166, and a RevPAR of about $97.

How does the Q1 2022 RevPAR of AHT compare to previous years?

The RevPAR represents a 103% increase from Q1 2021 but a 23% decrease compared to Q1 2019.

What were the monthly RevPAR changes for AHT in early 2022?

RevPAR decreased by 36% in January, 25% in February, and 13% in March compared to the same months in 2019.

What is the outlook for Ashford Hospitality Trust in 2022?

CEO Rob Hays expressed optimism about the industry's recovery and AHT's position to benefit from it.