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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 (NYSE: AHT) announced the release of its fourth-quarter earnings for the period ending December 31, 2022. The earnings release is scheduled for February 21, 2023, after market close. A conference call to discuss the results will take place on February 22, 2023, at 11:00 a.m. ET. Interested parties can join the call by dialing (201) 389-0920, with a replay available until March 1, 2023. The live broadcast will be accessible on the company’s website.
Ashford Hospitality Trust (AHT) successfully refinanced its $37 million mortgage loan for the Le Pavillon Hotel in New Orleans, extending the maturity date and maintaining the loan amount. The new loan features a two-year initial term with three potential one-year extensions, at a floating interest rate of SOFR + 4.00%, with a 0.50% floor. CEO Rob Hays expressed satisfaction with securing this financing despite challenging market conditions.
Ashford Hospitality Trust (AHT) announced its preliminary financial results for Q3 2022, projecting a net loss of approximately $(26.2) million to $(24.2) million, translating to $(0.76) to $(0.70) per share. Adjusted EBITDAre is estimated between $81.1 million and $83.1 million, with Adjusted FFO anticipated at $18.0 million to $20.0 million. For the nine months ended September 30, 2022, the net loss is estimated between $(94.0) million and $(92.0) million, or $(2.74) to $(2.68) per share. Final results will be disclosed on November 1, 2022.
Ashford Hospitality Trust (AHT) reported an expected occupancy rate of 71% for Q3 2022 and an average daily rate (ADR) of approximately $179, resulting in a RevPAR of $127. This RevPAR marks a 29% increase from Q3 2021 but a 4% decline from Q3 2019. September 2022 saw a 0.4% increase in RevPAR compared to September 2019, signaling a potential recovery in demand. CEO Rob Hays expressed optimism regarding the company’s diverse portfolio and market positioning as they head into Q4 and 2023.
Ashford Hospitality Trust (NYSE: AHT) has declared dividends for its various Series of Cumulative Preferred Stock for Q4 2022. The dividends include $0.5281 per share for Series D, $0.4609 for Series F and G, and $0.46875 for Series H and I, all payable on January 17, 2023. The company also announced monthly cash dividends for Series J ($0.50 total quarterly) and Series K ($0.5125 total quarterly) Preferred Stocks, with payments scheduled throughout the quarter. These moves signify Ashford Trust's commitment to returning value to shareholders amidst market uncertainties.
Ashford Hospitality Trust (NYSE: AHT) declared several dividends for the third quarter of 2022, payable on October 17, 2022. These include $0.5281 per share for Series D, $0.4609 for Series F and G, and $0.46875 for Series H and I, all equivalent to annual rates of $2.1125, $1.8438, and $1.875 respectively. Additionally, the Company announced monthly cash dividends of $0.1666 and $0.1708 for Series J and K, reflecting annual rates of $2.00 and $2.05. Stockholders of record as of September 30, 2022, will receive these payments.
Ashford Hospitality Trust, Inc. (NYSE: AHT) has announced it will release its third-quarter earnings results for the period ending September 30, 2022, on November 1, 2022, after market close. A conference call is scheduled for November 2, 2022, at 11:00 a.m. ET. Investors can participate by calling (201) 389-0920. A replay will be available until November 9, 2022. The live call will also be accessible via the company’s website. Ashford Trust primarily invests in upper upscale, full-service hotels.
Ashford Hospitality Trust (AHT) announced an expected occupancy rate of approximately 73% for Q2 2022, with an average daily rate (ADR) of $184, leading to a RevPAR of $135. This marks a 73% increase compared to Q2 2021 but a 6% decrease from Q2 2019. In June 2022, occupancy reached 75% with an ADR of $186 and a RevPAR of $139, reflecting a 52% increase from June 2021 and a 5% decrease from June 2019. The company expressed optimism regarding its diverse portfolio's performance amidst rising demand in key markets.
Ashford Hospitality Trust (NYSE: AHT) announced its upcoming second quarter earnings release for the period ending June 30, 2022. The earnings report will be issued after market close on August 2, 2022, followed by a conference call on August 3, 2022, at 11:00 a.m. ET. Investors can participate by calling (201) 389-0920. A replay will be available until August 10, 2022. The conference call will also be streamed live on the company's website, with a replay accessible for one year.
Ashford Hospitality Trust (NYSE: AHT) reported a preliminary portfolio occupancy of 72% for May 2022, with an average daily rate (ADR) of approximately $185 and RevPAR of about $132, marking a 74.9% rise from May 2021 but a 6.8% decline from May 2019. Hotel Net Income was $18.9 million and Comparable Hotel EBITDA reached $36.9 million, up 156% year-over-year. April occupancy was 74%, ADR at $182, and a RevPAR of $134 represented a 98.6% increase from April 2021. The company has seen robust recovery in key markets.
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