Ashford Enters Definitive Agreement to Acquire Remington’s Project Management Division for $203 Million

April 11, 2018

DALLAS, April 11, 2018 -- Transaction Highlights: Transaction values Remington Project Management at a trailing 12-month EBITDA multiple of 12.5x Consideration in the form of convertible preferred stock convertible at $140 per share, a premium of 45% to the current market price of Ashford common stock Transaction is expected to be immediately accretive to adjusted net income per share Increases breadth of services provided to managed REITs Transaction rapidly builds operating scale and increases earnings potential High margin, low-capex business model Ashford Inc. (NYSE American: AINC) (the "Company") today announced t...