ashford trust
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...
Ashford Trust Announces Sale of Two Hotels for $37.8 million
August 15, 2019
DALLAS -- August 15, 2019 -- Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") today announced the sales of the 156-room Courtyard Savannah Downtown in Savannah, Georgia and the 128-room Hilton Garden Inn in Wisconsin Dells, Wisconsin for $37.8 million. The combined sales price, inclusive of the buyers' estimated anticipated capex of $8.2 million, represents a trailing twelve-month cap rate of 5.3% on net operating income and a 16.2x Hotel EBITDA multiple as of June 30, 2019. The hotels had existing allocated loan balances of approximately $32.8 million that were paid off at closing along with an ad...
Ashford Trust Reports Q1 2017 Net Loss of $33.2 Million; Comparable RevPAR Increased 3.4% During the Quarter
Ashford Trust | May 5, 2017
DALLAS, May 4, 2017 -- Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") today reported financial results and performance measures for the first quarter ended March 31, 2017. The performance measurements for Occupancy, Average Daily Rate (ADR), Revenue Per Available Room (RevPAR), and Hotel EBITDA are comparable assuming each of the hotel properties in the Company's hotel portfolio as of March 31, 2017 were owned as of the beginning of each of the periods presented. Unless otherwise stated, all reported results compare the first quarter ended March 31, 2017, with the first quarter end...
Douglas A. Kessler Appointed Chief Executive Officer Of Ashford Hospitality Trust, Inc.
Ashford Hospitality Trust | February 21, 2017
DALLAS, Feb. 21, 2017 -- Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") announced today that its Board of Directors has appointed Douglas A. Kessler as the Chief Executive Officer of the Company, effective February 21, 2017. Monty J. Bennett, the Company's previous Chief Executive Officer, remains Chairman of the Board of Ashford Trust. As part of this appointment, Mr. Kessler will not stand for reelection as a Director of Ashford Hospitality Prime, Inc. Mr. Kessler has been with Ashford Trust since its IPO in August of 2003 serving most recently as President since 2009. Prior to b...
Ashford Trust Completes Sale of 162-Room SpringHill Suites Gaithersburg, Maryland for $13.2 Million
Ashford Hospitality Trust | October 4, 2016
DALLAS, Oct. 4, 2016 -- Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") announced today that it has closed on the sale of the 162-room SpringHill Suites Gaithersburg in Gaithersburg, MD for approximately $13.2 million ($81,000 per key). The purchase price for the SpringHill Suites Gaithersburg represents a trailing 12-month cap rate of 7.1% on net operating income. On a trailing 12-month basis, the hotel achieved RevPAR of $72, with occupancy of 66% and Average Daily Rate of $108. The consideration received from the sale was a combination of cash and approximately 2.0 million Class B co...
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...
Ashford Trust Completes Acquisition Of W Atlanta Downtown Hotel For $56.8 Million
Ashford Hospitality Trust | July 2, 2015
Acquisition Highlights: Purchase price represents an estimated forward 12-month cap rate of 7.2% and an estimated forward 12-month EBITDA multiple of 11.6x Ideal Downtown Atlanta location proximate to multiple growing demand generators Hotel is in excellent physical condition having been recently built in 2009 Purchase price represents an approximately 40% discount to replacement cost DALLAS, July 2, 2015 - Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") announced today that it has completed the previously-announced acquisition of the 237-room W Atlanta Downtown hotel for to...
Ashford Trust Announces Planned Sale of Select-Service Hotel Portfolio & Other Strategic Initiatives
Ashford Hospitality Trust | June 26, 2015
DALLAS, June 26, 2015 -- Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") announced today several strategic initiatives. The Company has analyzed numerous strategies to maximize shareholder value with its select-service hotels including: raising private capital and forming a joint venture, a spin-off similar to Ashford Hospitality Prime, Inc. (NYSE: AHP) ("Ashford Prime"), holding the select-service assets indefinitely, and/or selling many or all the select-service assets. After a full analysis of the potential strategies and in response to investor feedback, the Company announced today that it intends to ...
