ashford hospitality
Richard J. Stockton Appointed Chief Executive Officer of Ashford Hospitality Prime, Inc.
Ashford Hospitality Prime | November 4, 2016
DALLAS, Nov. 4, 2016 -- Ashford Hospitality Prime, Inc. (NYSE: AHP) ("Ashford Prime" or the "Company") announced today that its Board of Directors has appointed Richard J. Stockton as the Chief Executive Officer of the Company, effective November 14, 2016. Monty J. Bennett, the Company's previous Chief Executive Officer, remains Chairman of the Board of Ashford Prime. Mr. Stockton brings a wealth of real estate experience and accomplishments to Ashford Prime. He spent over 15 years at Morgan Stanley in real estate investment banking where he rose from an Associate to Managing Director and regional group head. Spe...
Ashford Prime to Sell Courtyard Seattle Downtown for $84.5 million, or $338,000 per key
Ashford Hospitality Prime | May 23, 2016
DALLAS, May 23, 2016 -- Ashford Hospitality Prime, Inc. (NYSE: AHP) ("Ashford Prime" or the "Company") announced today that it has entered into a definitive agreement to sell the 250-room Courtyard Seattle Downtown for $84.5 million in cash ($338,000 per key). The purchase price represents a trailing 12-month cap rate of 6.7% on net operating income. On a trailing 12-month basis, the property achieved RevPAR of $157, with occupancy of 80% and Average Daily Rate of $196. The hotel has an existing allocated debt balance of approximately $65 million, and the Company expects the net proceeds from the disposition to be ap...
