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Ashford Hospitality Trust, Inc. - AHT STOCK NEWS

Welcome to our dedicated page for Ashford Hospitality Trust news (Ticker: AHT), a resource for investors and traders seeking the latest updates and insights on Ashford Hospitality Trust stock.

Ashford Hospitality Trust, Inc. (NYSE: AHT) is a self-advised real estate investment trust (REIT) specializing in the hospitality sector. Established in 2003, Ashford's strategy focuses on investing opportunistically in upper upscale, full-service hotels across the United States. The company operates through its subsidiary, Ashford Hospitality Limited Partnership, and holds its lodging investments under brands like Marriott, Hilton, Hyatt, Crowne Plaza, and Sheraton.

The company's core investments include direct real estate acquisitions, securities, equity, and debt, targeting assets expected to generate revenue per available room (RevPAR) below twice the national average. Ashford's revenue streams are primarily derived from room revenue, food and beverage sales, and other ancillary services.

Recently, Ashford has been actively managing its portfolio to improve financial stability and reduce debt. The company announced the sale of multiple hotel properties, including the Hilton Boston Back Bay and Courtyard Manchester, generating significant proceeds for debt reduction. In addition, Ashford has undertaken refinancing efforts, such as the recent loan secured for the Renaissance Hotel in Nashville, Tennessee, to enhance liquidity and financial flexibility.

Ashford's leadership is also experiencing changes, with Rob Hays stepping down as CEO and Stephen Zsigray taking over. This transition aims to bring fresh perspectives and continue the company's growth trajectory.

Committed to maintaining a high-quality, geographically diverse portfolio, Ashford is well-positioned to benefit from increasing corporate and group travel demand. The company's ongoing deleveraging plan and strategic asset sales are expected to strengthen its financial health and support future growth initiatives.

News

ASHFORD HOSPITALITY TRUST ANNOUNCES PRELIMINARY FIRST QUARTER 2024 RESULTS

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Ashford Hospitality Trust, Inc. (NYSE: AHT) expects to report an Occupancy of 67% for Q1 2024 with an Average Daily Rate of $191, resulting in a RevPAR of $128. Comparable RevPAR saw a 1% decrease compared to Q1 2023. The company experienced a 2.1% increase in January 2024 but a decrease in February and March 2024. Ashford Trust remains optimistic due to increased demand and progress in deleveraging.
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ASHFORD TRUST SETS FIRST QUARTER EARNINGS RELEASE AND CONFERENCE CALL DATES

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Ashford Hospitality Trust, Inc. (AHT) announced the release of its first-quarter results for March 31, 2024. The earnings release is scheduled for May 7, 2024, with a conference call on May 8, 2024, at 11:00 a.m. ET. Ashford Trust focuses on upper upscale, full-service hotels as a real estate investment trust (REIT).
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ASHFORD HOSPITALITY TRUST ANNOUNCES PROGRESS IN DELEVERAGING PLAN WITH SALE OF THE RESIDENCE INN SALT LAKE CITY

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Ashford Hospitality Trust, Inc. (AHT) announced the sale of the Residence Inn in Salt Lake City for $19.2 million, reflecting a 4.6% capitalization rate on 2023 net operating income. The proceeds were used to pay down debt, with future updates on more asset sales expected.
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ASHFORD HOSPITALITY TRUST ANNOUNCES PROGRESS IN PLAN TO PAY OFF STRATEGIC FINANCING WITH AGREEMENT TO SELL THE HILTON BOSTON BACK BAY

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Ashford Hospitality Trust, Inc. (NYSE: AHT) has signed a definitive agreement to sell the 390-room Hilton Boston Back Bay for $171 million. The sale is expected to be completed in March, with net proceeds of approximately $70 million. The sale price represents a 7.3% capitalization rate on 2023 net operating income or 12.3x 2023 Hotel EBITDA. The Company plans to use the proceeds for general corporate purposes.
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ASHFORD HOSPITALITY TRUST PROVIDES UPDATE ON PLAN TO PAY OFF STRATEGIC FINANCING

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Ashford Hospitality Trust, Inc. (AHT) provides an update on its plan to pay off strategic financing by raising capital through asset sales, mortgage debt refinancings, and preferred capital offering. The company has six assets under agreements with a total value exceeding $220 million. However, there are no assurances that these sales will be completed.
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ASHFORD HOSPITALITY TRUST ANNOUNCES PROGRESS IN DELEVERAGING PLAN WITH AGREEMENT TO SELL THE RESIDENCE INN SALT LAKE CITY

Rhea-AI Summary
Ashford Hospitality Trust, Inc. (AHT) announced the sale of Residence Inn in Salt Lake City for $19.2 million, expected to close in early March. The sale represents a 4.6% capitalization rate on 2023 net operating income. Proceeds will be used to pay down debt.
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ASHFORD HOSPITALITY TRUST ANNOUNCES PRELIMINARY FOURTH QUARTER AND YEAR END RESULTS FOR 2023

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Ashford Hospitality Trust, Inc. (AHT) reported a preliminary net loss for the fourth quarter and full year ended December 31, 2023, with an increase in Comparable RevPAR of 1.5%. Adjusted EBITDAre and Adjusted FFO estimates were also provided. The Company uses non-GAAP measures to enhance operational result understanding. Final results for the fourth quarter will be released on February 28, 2024.
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ASHFORD HOSPITALITY TRUST PROVIDES UPDATE ON PLAN TO PAY OFF STRATEGIC FINANCING

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Ashford Hospitality Trust, Inc. (NYSE: AHT) plans to pay off its strategic financing by raising capital through asset sales, mortgage debt refinancings, and non-traded preferred capital raising. The company is considering selling several assets and refinancing loans secured by various properties to generate incremental proceeds. The goal is to pay down the strategic financing, deleverage the balance sheet, and utilize the funds for general corporate purposes. The company is optimistic about its ability to achieve this goal in 2024, citing the excess proceeds from planned asset sales, property refinancings, and non-traded preferred capital raise. Ashford Trust's President and CEO, Rob Hays, expressed confidence in the company's ability to outperform, highlighting the geographic diversification of its hotel portfolio.
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ASHFORD HOSPITALITY TRUST ANNOUNCES TAX REPORTING INFORMATION FOR 2023 PREFERRED SHARE DISTRIBUTIONS

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Ashford Hospitality Trust, Inc. (NYSE: AHT) announced the tax reporting information for the 2023 distributions on its preferred shares. The distributions for Series D, F, G, H, I, J, and K preferred shares are detailed, providing the income tax treatment applicable to each distribution reportable in 2023. The company also encourages stockholders to consult with their tax advisors regarding the tax effects of these dividends.
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ASHFORD HOSPITALITY TRUST ANNOUNCES PRELIMINARY FOURTH QUARTER 2023 RESULTS

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Ashford Hospitality Trust, Inc. (NYSE: AHT) reported a 66% occupancy rate and an average daily rate of $182 for the fourth quarter of 2023, resulting in a RevPAR of approximately $120. Comparable RevPAR increased by 1% compared to the fourth quarter of 2022. The company also saw a 4% increase in Comparable RevPAR for October 2023 compared to October 2022, but a 1% decrease for December 2023 compared to December 2022. Ashford Trust's President and CEO, Rob Hays, expressed satisfaction with the performance, attributing it to increased corporate and group demand, and the company's well-positioned, geographically diverse portfolio. Additionally, the company has raised approximately $91.3 million of gross proceeds through the offering of its Non-Traded Preferred Equity.
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FAQ

What is the current stock price of Ashford Hospitality Trust (AHT)?

The current stock price of Ashford Hospitality Trust (AHT) is $7.73 as of December 20, 2024.

What is the market cap of Ashford Hospitality Trust (AHT)?

The market cap of Ashford Hospitality Trust (AHT) is approximately 41.0M.

What is Ashford Hospitality Trust, Inc.?

Ashford Hospitality Trust, Inc. (NYSE: AHT) is a self-advised real estate investment trust (REIT) focused on investing in the hospitality industry, particularly in upper upscale, full-service hotels in the United States.

When was Ashford Hospitality Trust, Inc. established?

Ashford Hospitality Trust, Inc. was established in August 2003.

What types of properties does Ashford Hospitality Trust, Inc. invest in?

Ashford Hospitality Trust invests in full-service upscale and upper upscale hotel properties, targeting assets that generate revenue per available room (RevPAR) below twice the national average.

What brands operate under Ashford Hospitality Trust, Inc.?

Ashford Hospitality Trust's hotels operate under well-known brands such as Marriott, Hilton, Hyatt, Crowne Plaza, and Sheraton.

How does Ashford Hospitality Trust generate revenue?

Ashford Hospitality Trust generates revenue primarily from room bookings, food and beverage sales, and other ancillary services.

What are some recent achievements of Ashford Hospitality Trust, Inc.?

Recently, Ashford has sold multiple properties, including the Hilton Boston Back Bay and Courtyard Manchester, and completed refinancing for the Renaissance Hotel in Nashville to reduce debt and enhance financial stability.

Who is the current CEO of Ashford Hospitality Trust, Inc.?

As of June 2024, Stephen Zsigray will become the CEO, succeeding Rob Hays.

What is Ashford Hospitality Trust, Inc.'s strategy for future growth?

Ashford's strategy includes opportunistic investments in upper upscale hotels, portfolio management to reduce debt, and maintaining a high-quality, diverse property portfolio to leverage increasing travel demand.

What financial condition is Ashford Hospitality Trust, Inc. currently in?

Ashford Hospitality Trust is actively managing its portfolio and undertaking refinancing efforts to enhance liquidity and financial flexibility, with a focus on reducing debt and improving financial health.

What are Ashford Hospitality Trust, Inc.'s recent financial results?

Ashford reported preliminary first-quarter 2024 results, including net income attributable to common stockholders ranging from $66.4 million to $68.4 million, and Adjusted EBITDAre between $58.5 million and $60.5 million.

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Ashford Hospitality Trust, Inc.

NYSE:AHT

AHT Rankings

#4971 Ranked by Market Cap
N/A Ranked by Dividends

AHT Stock Data

41.02M
5.48M
1.97%
21.76%
2.5%
REIT - Hotel & Motel
Real Estate Investment Trusts
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United States of America
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