Ashford Prime Completes $84.5 Million Sale of Courtyard Seattle Downtown/Lake Union

July 5, 2016

DALLAS, July 5, 2016 -- Ashford Hospitality Prime, Inc. (NYSE: AHP) ("Ashford Prime" or the "Company") announced today that it has completed its previously announced sale of the 250-room Courtyard Seattle Downtown/Lake Union for $84.5 million in cash ($338,000 per key). The Company realized approximately $15 million in net proceeds from the disposition following the repayment of approximately $65 million of debt and other transaction costs. The removal of this hotel with a trailing 12-month RevPAR of $157 from the Ashford Prime portfolio, which had a trailing 12-month RevPAR of $200, should increase the remaining por...