ashford prime
Ashford Prime to Acquire Florida’s Ritz-Carlton Sarasota for $171 Million or $643K per Room
Ashford Hospitality Prime | February 16, 2018
Ashford Hospitality Prime, Inc. (NYSE: AHP) ("Ashford Prime" or the "Company") today announced that it has entered into a definitive agreement to acquire the 266-room Ritz-Carlton Sarasota in Sarasota, Florida (the "Ritz Sarasota" or the "Property") for $171 million ($643,000 per key). To fund the acquisition, the Company plans to use cash on its balance sheet as well as either drawing on its revolving credit line or securing a non-recourse mortgage loan on the property. As part of the transaction, the seller has agreed to provide a $5.5 million income guaranty to cover any decrease from 2017 hote...
Ashford Prime Completes Acquisition of Hotel Yountville for $96.5 Million
Ashford Hospitality Prime | May 12, 2017
DALLAS, May 12, 2017 -- Ashford Hospitality Prime, Inc. (NYSE: AHP) ("Ashford Prime" or the "Company") announced today that it has completed the acquisition of the 80-room Hotel Yountville in Yountville, California for $96.5 million ($1,200,000 per key), previously announced on March 1, 2017. Concurrent with the completion of the acquisition, the Company has financed the hotel with a $51.0 million non-recourse mortgage loan. This loan is interest only and provides for a floating interest rate of LIBOR + 2.55% with a five-year term. The property will be managed by Remington Lodging. The purchase price for the Hotel Yo...
Ashford Prime Reports Reports First Quarter 2017 Net Loss of $1.7 Million; Comparable RevPAR for all Hotels Increased 2.5%
Ashford Prime | May 4, 2017
Adjusted Funds From Operations Per Share Increased 18% Comparable RevPAR for all Hotels Not Under Renovation Increased 5.8% Comparable Hotel EBITDA Margin for all Hotels Not Under Renovation Increased 50 bps Completed Two Public Stock Offerings; Increasing Liquidity and Broadening Shareholder Base Completed Acquisition of Park Hyatt Beaver Creek Resort & Spa Announced Agreement to Acquire Hotel Yountville DALLAS, May 3, 2017-- Ashford Hospitality Prime, Inc. (NYSE: AHP) ("Ashford Prime" or the "Company") today reported the following results and performance measures for the first quarter ended March 31, 2017. The ...
Ashford Prime Completes Acquisition Of Award-Winning Park Hyatt Beaver Creek Resort & Spa For $145.5 Million
April 3, 2017
DALLAS, April 3, 2017 -- Ashford Hospitality Prime, Inc. (NYSE: AHP) ("Ashford Prime" or the "Company") announced today that it has completed the acquisition of the 190-room Park Hyatt Beaver Creek Resort & Spa in Beaver Creek, Colorado for $145.5 million ($766,000 per key), previously announced on March 10, 2017. Concurrent with the completion of the acquisition, the Company has financed the hotel with a $67.5 million non-recourse mortgage loan. This loan is interest only and provides for a floating interest rate of LIBOR + 2.75% with a two-year term and three, one-year extension options subject to the satisfact...
Ashford Prime to Acquire Park Hyatt Beaver Creek Resort & Spa for $145.5 Million
Ashford Hospitality Prime | March 13, 2017
DALLAS, March 13, 2017 - Acquisition Highlights: Trophy asset located slope-side in the epicenter of the picturesque mountain resort village of Beaver Creek, Colorado Unique ski-in/ski-out access to one of the world's most celebrated ski destinations, Beaver Creek Mountain Revenue per available room (RevPAR) of $270.92 for the 12 months ended January 31, 2017 Property is in excellent physical condition with limited immediate capex needs Ashford Hospitality Prime, Inc. (NYSE: AHP) ("Ashford Prime" or the "Company") today announced it has entered into a definitive agreement to acquire the 190-room Park Hyatt ...
Ashford Prime Enters Agreement to Acquire Hotel Yountville For $96.5 Million
March 2, 2017
DALLAS, March 2, 2017 -- Acquisition Highlights: Premier asset in Napa Valley, one of the strongest and most desirable lodging markets in the country with high barriers to entry and minimal new supply Revenue per available room (RevPAR) of $469.12 for the 12 months ended December 31, 2016 Property is in excellent physical condition Complimentary property to Ashford Prime's Bardessono Hotel and Spa in Yountville Operational synergies expected with Remington Lodging taking over property management Ashford Hospitality Prime, Inc. (NYSE: AHP) ("Ashford Prime" or the "Company") today announced it has entered in...
Ashford Prime to Acquire Marriott-Owned Ritz-Carlton St. Thomas for $64 Million
November 25, 2015
DALLAS, Nov. 25, 2015 -- Acquisition Highlights: Premier resort in St. Thomas recently underwent comprehensive $22 million renovation supporting strong trailing 12-month RevPAR of over $430 with meaningful upside potential Resort is being acquired at a trailing 12-month NOI cap rate of 10% and a trailing 12-month EBITDA multiple of 7.2x Unmatched location on 30 fee simple, oceanfront acres along Great Bay Recognized as one of the leading hotels in the U.S. Virgin Islands in the 2015 edition of U.S. News & World Report's Best Hotel Rankings Ashford Hospitality Prime, Inc. (NYSE: AHP) ("Ashford Prime" or the "...
Q3 2015 Financial Reports Round Up: Chatham, Strategic, Belmond, RLJ Lodging, & Ashford et al
November 5, 2015
Chatham Lodging Trust reports third quarter net income of $14.4 million compared to $8.8 million in the year ago quater. Portfolio RevPAR increased 5.3 percent to $146 for Chatham's 38, wholly owned hotels Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels and owns 134 hotels wholly or through joint ventures, today announced results for the third quarter ended September 30, 2015. In addition, the company provided initial guidance for the 2015 fourth quarter and updated its 2015 full-year guidance. Highlights: Portfol...
