Ashford Signs Definitive Agreement to Acquire Remington’s Hotel Management Business

June 4, 2019

DALLAS, June 4, 2019 -- Transaction Highlights: Consideration for the transaction will be a new series of convertible preferred stock Transaction is expected to be immediately accretive to adjusted net income per share Enhances strong alignment of management with the interests of shareholders through the issuance of voting convertible preferred equity Transaction will result in all Ashford-affiliated companies being publicly held Transaction rapidly builds operating scale and increases earnings potential High margin, low-capex business model Transaction will increase Ashford's total enterprise value to approximately $600 mil...