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...