residence inn salt lake city
Ashford Hospitality Trust Completes Sale of Residence Inn Salt Lake City
Ashford Hospitality Trust | March 12, 2024
DALLAS, March 12, 2024 -- Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") today announced that it has closed on the sale of the 144-room Residence Inn located in Salt Lake City, Utah (the "Hotel") for $19.2 million. When adjusted for the Company's anticipated capital expenditures, the sale price represented a 4.6% capitalization rate on 2023 net operating income, or 18.2x 2023 Hotel EBITDA. Excluding the anticipated capital spend, the sale price represented a 6.0% capitalization rate on 2023 net operating income, or 14.0x 2023 Hotel EBITDA. All of the proceeds from the sale were used to pay down debt....
Ashford Hospitality Trust Agrees to Sell 144-Room Residence Inn Salt Lake City for $19.2 Million
Ashford Hospitality Trust | February 16, 2024
DALLAS, Feb. 16, 2024 -- Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") today announced that it has signed a definitive agreement to sell the 144-room Residence Inn located in Salt Lake City, Utah (the "Hotel") for $19.2 million. The sale is expected to be completed in early March and is subject to normal closing conditions. The Company provides no assurances that the sale will be completed on these terms or at all. When adjusted for the Company's anticipated capital expenditures, the sale price represents a 4.6% capitalization rate on 2023 net operating income, or 18.2x 2023 Hotel EBITDA. Excluding the an...
