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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.
Ashford Hospitality Trust, Inc. (NYSE: AHT) announced preliminary first-quarter results for 2024, with estimated net income of $66.4-68.4 million, Adjusted EBITDAre of $58.5-60.5 million, and Adjusted FFO of $(14.7)-$(12.7) million. Final results will be released on May 7, 2024.
Ashford Hospitality Trust, Inc. (NYSE: AHT) announced the sale of the 85-room Hampton Inn in Lawrenceville, Georgia for $8.1 million, representing a 6.0% capitalization rate. Proceeds will be used for corporate purposes and strategic financing. The Company transferred possession of hotel properties to a court-appointed receiver. Ashford Trust is progressing on its deleveraging plan.
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