ashford inc
Ashford Signs Definitive Agreement to Acquire Remington’s Hotel Management Business
June 4, 2019
DALLAS, June 4, 2019 -- Transaction Highlights: Consideration for the transaction will be a new series of convertible preferred stock Transaction is expected to be immediately accretive to adjusted net income per share Enhances strong alignment of management with the interests of shareholders through the issuance of voting convertible preferred equity Transaction will result in all Ashford-affiliated companies being publicly held Transaction rapidly builds operating scale and increases earnings potential High margin, low-capex business model Transaction will increase Ashford's total enterprise value to approximately $600 mil...
Ashford Enters Definitive Agreement to Acquire Remington’s Project Management Division for $203 Million
April 11, 2018
DALLAS, April 11, 2018 -- Transaction Highlights: Transaction values Remington Project Management at a trailing 12-month EBITDA multiple of 12.5x Consideration in the form of convertible preferred stock convertible at $140 per share, a premium of 45% to the current market price of Ashford common stock Transaction is expected to be immediately accretive to adjusted net income per share Increases breadth of services provided to managed REITs Transaction rapidly builds operating scale and increases earnings potential High margin, low-capex business model Ashford Inc. (NYSE American: AINC) (the "Company") today announced t...
Ashford, Inc. Enters Agreement to Combine with Remington Holdings
Ashford Inc. | September 21, 2015
Transaction Highlights: Transaction values Remington at an estimated EBITDA multiple of 9.4x 916,500 shares of subsidiary nonvoting common stock issued at $100 per share, a premium of 54% to the current market price of Ashford common stock $230 million of subsidiary participating convertible preferred stock convertible at $120 per share, a premium of 85% to the current market price of Ashford common stock Large transformational acquisition with only $625,000 to be paid in cash each quarter for four years Enhances strong alignment of management with the interests of shareholders through issuance of non-voting common equity and conv...
