Ashford Trust to Acquire the W Minneapolis & Le Meridien Minneapolis for $101 Million

Ashford Hospitality Trust | June 25, 2015

Acquisition Highlights: Acquiring the W Minneapolis Hotel - The Foshay and the Le Meridien Chambers Minneapolis hotel with 289 total rooms Purchase price equates to an estimated forward 12-month cap rate of 7.0% and an estimated forward 12-month EBITDA multiple of 12.5x Both assets are centrally-located and adjacent to growing demand generators Minimal CapEx needs as both hotels have undergone extensive renovations DALLAS, June 25, 2015 -- Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") announced today that it has signed a definitive agreement to acquire two Minneapolis hotels, the 229-room W M...