Ashford Group of Companies to Return PPP Funds

Ashford Group | May 4, 2020

DALLAS -- May 4, 2020 -- The Ashford Group of Companies announced today that all of its companies, including Ashford Inc. (NYSE American: AINC), Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust"), and Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar"), will return all funds provided by the Small Business Administration's ("SBA") Paycheck Protection Program ("PPP") due to the agency's recently changed rules and inconsistent federal guidance that put the companies at compliance risk. Federal Government assistance is required to repair the most significant damage in history to U.S. hotels and hospitality businesses cause...