Ashford Trust Announces Preliminary RevPAR Results For Second Quarter 2021
Ashford Hospitality Trust (AHT) reported preliminary RevPAR of approximately $91.27 for June 2021, marking a 256% increase from June 2020 but a 37% decline from June 2019. The second quarter of 2021 showed an expected 372% increase compared to Q2 2020, with a 46% decrease compared to Q2 2019. CEO Rob Hays attributes this growth to pent-up leisure demand and expresses confidence in recovery due to their geographically diverse portfolio focused on transient leisure customers.
- RevPAR for June 2021 increased 256% year-over-year.
- Expected RevPAR growth of 372% for Q2 2021 compared to Q2 2020.
- CEO's optimism about recovery trends due to strong leisure demand.
- RevPAR decreased 37% compared to June 2019.
- Anticipated decline of 46% in RevPAR for Q2 2021 compared to Q2 2019.
DALLAS, July 6, 2021 /PRNewswire/ -- Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") reported today preliminary RevPAR of approximately
"I am pleased to report these improved preliminary RevPAR results for the second quarter which are driven by pent-up leisure demand," commented Rob Hays, Ashford Trust's President and Chief Executive Officer. "We continue to be pleased with the recovery trends we are seeing at our hotels, and with our geographically diverse portfolio with high exposure to transient leisure customers, we believe we are well positioned to capitalize on this recovery."
Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing predominantly in upper upscale, full-service hotels.
Follow CEO Rob Hays on Twitter at https://twitter.com/aht_rob or @aht_rob.
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; the timing and outcome of the Securities and Exchange Commission's investigation; our ability to regain S-3 eligibility; 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 this risk 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.
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SOURCE Ashford Hospitality Trust, Inc.
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