DALLAS, June 8, 2016– Ashford Hospitality Prime, Inc., (NYSE: AHP) ("Ashford Prime" or the "Company") today confirmed that it has received an unsolicited proposal from The Weisman Group, an investment firm based in Sherman Oaks, California, to acquire the Company's assets.
The Company's Board of Directors and management team are committed to acting in the best interest of all Ashford Prime stockholders. Consistent with its fiduciary responsibilities, Ashford Prime's Board of Directors, in consultation with its independent financial and legal advisors, will carefully review and evaluate The Weisman Group's proposal to determine the course of action that the Board of Directors believes serves the best interest of the Company and its stockholders.
Ashford Prime is a real estate investment trust (REIT) focused on investing in luxury hotels located in resort and gateway markets.
Follow Chairman and CEO Monty Bennett on Twitter at www.twitter.com/MBennettAshford or @MBennettAshford.
Ashford has created an Ashford App for the hospitality REIT investor community. The Ashford App is available for free download at Apple's App Store and the Google Play Store by searching "Ashford."
